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Stock Exchange Blues

Stock Exchange Blues

Do you have any shares? Or should that read: do you still have any shares? With world stock markets in a succession of dead cat bounces, perhaps not. Now that the sobering truth is out that the most sophisticated minds of capitalism were stumped by collective greed and wishful thinking, RENATE OGILVIE believes we all need to take a sobering 3 minute shower.

When Karl Marx described the convulsions of capitalism, the power of his language was such that the 19th century sat up and took notice. And even now, that he himself appears to be on the rubbish heap of history, the embers of his rage are still glowing, the truth of his analysis is still lurking somewhere under the flash covers of globalisation.

Under the expensively suited exterior mayhem reigns. This is what we have always suspected. Insane risk taking and excess. Hubris and blood on the floor. CEOs pleading rather than holding forth. It could be quite entertaining except that it will affect us all. The media are certainly taking it seriously with regular bulletins on the finance markets - the life pulse of capitalism. No clowning infotainment here. Just the facts.

So how to cope in times when the suave ABC money expert publicly announces that he is selling all his shares and going into cash. Wow. This is almost like buying raw diamonds and sewing them into our hems in case we have to flee the country unexpectedly. Is it that bad? It is unlikely that capitalism will die very soon and it seems we are stuck with it. Karl Marx's children just made too much of a mess of the alternative.

In a parliamentary democracy capitalsim is a reasonably tamed animal, and we shouldn't forget that it has also brought us unparalleled comfort and universal education, modern medicine, mobility and foreign holidays, property and leisure, beauty and style. But we need to modify the greed on which it is based.

In uncertain times ones goes back to basics. What gives us joy? What is of value in the face of the inevitable fact of our mortality? Well, the answers are old: family and friends. Contentment. Community. Small rather than bloated, slow rather than fast, dimmed rather than wastefully bright, local rather than loaded with food miles. Self restraint rather than excess. Making do rather than craving and demanding.

Is all this boring? Perhaps just a bit. Visiting an eco-friendly house the other day I was a little sad at the, yes, drabness of it all. But if we have to pay for beauty and style with an arid poisoned planet, then beauty and style become very relative. If our addiction to consuming ends life itself, then the price is just simply too high.

Top image: It couldn't last forever by Dontatro Bryce

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It looks like Johnny Howard's been teaching Daubya about "Mateship" and the lesson has sunk in as the former Aussie PM has been booked into the Blair House, a high security guesthouse across the road from the White House from the 12th in order to be on hand to recieve the Presidential Medal of Freedom, to be presented to Howard on January 19.

The Blair House is tradidionally used by the President-Elect in the lead up to the inauguration and the Obamas has asked to be moved into the Blair House earlier so their two young children could start at their new school on the first day of the new term but have since been booked into the Presidential Suite at the Hay-Adams Hotel.

Comments from various blogs have not been complimentary:

"What would possess Howard to not at least publicly offer up his stay at Blair House to Obama. Then Obama could graciously say no thank you. By keeping his reservation and being silent Howard showed himself to be not that bright of a person and one can understand how he would pal around with george in an illegal war or two.
It would not be above george to threaten Howard with not giving him the medal if he didn't stay at Blair House and it would not be below Howard to respond to the threat in the way that he did, sort of like a cowering dog. The Aussies must really be proud of their guy. Any body got a shoe."
- Conrad C. Elledge

"George couldn't make this idiot stay at the hay-adams?" - Joe"no doubt Howard is receiving the honor for driving his country's currency into the abyss." - Urbuhlship

"Ah...the administration that live and died by the belief that loyalty trumped competence, clarity and every other imaginable factor-hands out a last few favors to the brown nose gang of three.
With the former prime minister of Australia getting the nod to stay in the Blair House-instead of making way for the incoming President.
How fitting. G'day-as they say-down under."
- Don Duval

"Handing out medals by the dozens to his supporters is about the only thing this president seems capable of actually doing. What is the cost to the U.S. taxpayers to bring these guys to Washington so ding-dong in chief can hang a goofy medal around their necks, or pin them on their jackets, or whatever one does with them? At least the national medal budget will likely be significantly reduced after January 20th." - Bill