The causes of the crises we are in this week run deep. The majority of America wants to blame these events on the Bush administration and Republican dominance, yet we must admit that the sources of the current economic situation began working years ago, at least during the Clinton administration, possibly earlier than that, as mortgage laws and lending limits were made "easier."
I do wonder how much of the fear in Washington and on Wall Street, which has become panic in much of America, is merely perceived. What is the worst that could happen if the government doesn't intervene at all? Will it send us into another great depression? I don't think so. We aren't having a famine. The bank system is not going to collapse. And I highly doubt that Wall Street is 700 billion dollars in debt. If America merely had confidence in the economy and in Wall Street's ability to come back, would there be a need for a 700 billion-dollar bill? What is odd is that the government talks like this debt on Wall Street is going to be valuable some day. If that is the case, then why don't more private companies like JPMorgan (which bought out Washington Mutual, with its debt) take over?
Those are all interesting questions. What I am intrigued by is what the American Dream has become. In the 1800s and early 1900s, the American Dream was the idea that in America, if you worked hard, you could acheive whatever you wanted. This was markedly different in Europe and Asia, where class systems and oppressive governments prevented the rise of a middle class. In America, even if you were hated, you could achieve a measure of personal security; you could even own your own home and land, provided you worked hard enough and made some sacrifices.
America still rewards hard work. However, the American Dream has changed. The American Dream is now, "I can have, and deserve, anything I want," regardless of the amount of work I put into it. If I want a four-million dollar house, like the ones I see on MTV Cribs, then by-golly, I should have one. If I want a loan for $50000 so that I can trick out my car, then I should be able to get it.
The principle that "I can get nice things if I work hard for them" has fallen by the wayside, and it lies in a shallow grave next to, "If you do not work, neither shall you eat." Our welfare system communicates, "You don't have to work; we'll give you food, housing, and money for luxuries." Our healthcare system, especially where we are heading, communicates, "I deserve the best health care the world has to offer, even if I can't afford the procedures." "Even if I am a lazy, unproductive, self-centered leech, I deserve to be taken care of by those who are hard-working and succeed."
This baffles me. And one political candidate communicates this even more, to the extent that "everyone deserves a college education." I'm sorry, but health care, education, and luxuries are privileges we have because of a history of hard work.
If I don't value education and don't study, then why on earth do I deserve a college education, and why should it be given to me? If, on the other hand, I am a hard worker, and have studied hard in school, then I can get the scholarships and aid I need to get into most state universities, at the very minimum a community college.
The American Dream has become an expectation of excess. Even those who are wealthy because of hard work expect to be able to buy anything their hearts desire, to gross and grotesque limits.
To Quote Switchfoot:
When success is equated with excess,
The ambition for excess wrecks us.
As top of the mind becomes the bottom line, when success is equated with excess
When success is equated with excess,
When we're fighting for the Beamer, the Lexus,
As the heart and soul breath in the company goals, where success is equated with excess
This ain't my American dream
I want to live and die for bigger things
I'm tired of fighting for just me
This ain't my American dream
5 comments:
"I do wonder how much of the fear ... which has become panic in much of America, is merely perceived."
Our entire economy is based and supported by perception, that is why panic is so dangerous. It doesn't matter how good our economy is as much as how much we THINK the economy is good. Truly a house of cards.
such a subtle yet important difference between -"everyone deserves a chance at a college education" and "everyone deserves a college education".
I don't think the economy is going to crash and burn - but my definition of crash and burn (we'll all be hungry and homeless) is probably different than the average american's idea of crash and burn (we'll all have used cars and non-plasma tvs :-/)
Further, I think that American as an organism is reaping the greed that infected America the individual. The whole is a reflection of the majority of parts. Just as individual's wanted more so they borrowed for it, the country wanted to continue in luxury (relative to the world) so we borrowed for it. You can't blame the government without blaming the poeple - because, that's the great thing about Americs - they're too intertwined (or at least, they used to be)
Now that this comment is uberly long - let me say what I REALLY stopped by to say: your comment on my blog was very meaningful. Thank you.
love.
Thank you SJ.
Dad, How True. It's crazy, but our economy is almost completely based on imagination. Our dollar bills aren't worth anything concrete. Credit and electronic banking don't necessitate anything of real value existing. And the stock market, wow, revolves around the perceived value of companies, stocks, and goods.
I honestly think our society would be screwed up worse if we were strategically hit with EMP (Electromagnetic Pulse) bombs, since most of our data and infrastructure runs on electrical circuitry.
It would be even worse if, of all things, America was hit with ... REALITY. It sure killed me!
Haha, true.
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