Monday, October 27, 2008

The End of an Era

There doesn’t look like a lot of hope now for the foreseeable future -- for those to continue to live in the manner they had grown accustomed to and thought would never end.

That’s usually what these calamitous reevaluations of assets in the financial markets indicate -- that an old way of life is ending, and quietly, sometimes invisibly, a new manner of living is emerging. Obviously, bigger and more expensive homes are not the wave of the future, or dreams of yearly travels and cruises around the world, stopping at the many homes one has around the world.

That kind of life of excess, is a thing of the past, as the social and economic hierarchies get leveled out. While it is often said that the rich only get richer, while the poor get poorer -- there are actually times, when the rich get poorer at alarming rates of loss (distress,) while the poor continue mostly unaffected, because they weren’t planning any cruises anyway, and were happy gleaning from the bottom of the barrel anyway

Those most affected however, are those who have grown accustomed to thinking of their job security and upward mobility as a permanent state (entitlement) -- rather than as business must be, fluctuating and changing. Frequently, even landmark institutions become history.

While there is still the Dow Industrials as a measure of the stock market fortunes, the composition of that average changes over time, to obviously favor the progress of its most successful and prominent enterprises -- and those no longer so, are dropped from the list, and many disappear entirely. So there is that bias to the market always seeming to trend upward, and not to reflect what happens to those still holding certificates for businesses that no longer exist.

What we see happening now happening in full view has been the fall of even the way we obtain this information of what is happening in the world -- speeded in their demise, by deciding to become undisguisedly partisan and bias sources -- frequently against those who still patronize them, as though somehow, it made sense to attack those who could still afford to employ them.

So when they lost their best customers, all they were stuck with, were those who no advertiser was interested in marketing to.


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