Monday, March 17, 2008

When a man has cried enough he dies

When a man has cried enough he dies. I first heard this statement in a Japanese Samurai movie. It was the jester or court fool talking to the warlord when it seemed all hope was lost. It was soon after my father died when I was 37. I couldn't believe at the time just how devastated I was by my father's death. I knew that my marriage wouldn't last because of it(even though it lasted 9 more years).However, when my father died I knew that I wouldn't be able to keep my wife and I from breaking up eventually. I knew it was only a matter of time. I remember thinking how appropriate this saying was for all men around the world and I felt very sad for my son and two step children in knowing no matter what I would do they eventually would have another broken home.

When I look at the present world economic crisis I feel this way. I'm pretty sure at this point I'm looking at something that though it may come slowly will be as bad or worse than the great depression of 1929 until world War II and after. I feel sad for my children both those grown and in their 30s and my two teenagers and my grown god daughters. Though I didn't live through the great depression, my parents, grandparents and anyone I knew who survived the Great Depression and world war II shared their private and public Hells from that time and told me and my generation to never repeat the mistakes of those who caused the Great Depression which also caused World War II.

If there is any one factor that caused this present collapse I could say it is the instabilities caused by Globalization that made financial markets just too complicated and confused by too many variables. I agree with Greenspan that many financial institutions will fail before we institute new international rules to prevent this happening again. However, for now around the world, When a man(or anyone) has cried enough he or she dies.

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