Stock Market Correction

STOCK MARKET CORRECTION

Now that the markets are stabilizing somewhat, we can all breathe a sigh of relief. That was scary – watching the prices plummet all at once around the entire world. There really wasn’t any need to worry, as the system has worked well for hundreds of years, but it does make me pause to wonder “what if?”


What if all of the major institutions are connected - interdependent so to speak? When the banks fail, (like the Savings and Loan debacle a few years back), the government steps in to restore confidence by bailing them out with tax dollars. When the stock market becomes unstable, the banks invest heavily with depositor’s cash to stabilize the situation and restore confidence. Governments take all the credit for a “booming economy” and a “robust market” to win elections and coast to victory on the restored confidence. What if all these institutions were built on foundations of greed, deception and arrogance and we all just stopped placing our confidence in them?

The result would probably be chaos! Wars would have no justification. Insurance companies would be forced to redefine an “Act of God”. Strikes and lockouts would make no sense. Farmers and tradesmen would be at the top of the “food chain”. Social assistance would have to be personal and close to home. In fact, if we all stopped relying on big government, bank credit and market “analysts” we would have to rely on each other as if we lived in a real community! The only things with any value to society would be integrity, friendship, cooperation and mutual respect.

Culture would eventually stop being something you purchase at a video store or on a CD. People would have to build honorable reputations like they used to. News would have to be reported, not created. Parents would have to tend to their children's education instead of arming them with Nike running shoes and sending them forth. It would be a nightmare. Utter chaos!