Financial Crisis

It appears the United States Government is going to try to stabilize the financial markets by putting the tax payers on the hook for over $700 Billion. This is the classic definition of a "government bailout". Private firms took the risk for profit with the risk of loss eliminated since the taxpayer ends up compensating for the loss. Is this a good plan or not? Heck if I know. The world of high end macroeconomics is something that is past my level of comprehension. However, I do see a huge lesson in it.

The natural question in this situation is "who caused it?". We want to know who is at fault. I think this is a reasonable request from the taxpayers. Of course, anyone watching the media knows that no answer is coming anytime soon. Nancy Pelosi responded that Congress held no responsibility for the financial mess. I am certain President Bush is not going to say it is his fault. Is the Bernake and the Fed the cause? How about Greenspan? He led it through much of the housing bubble. Someone please tell me if anyone is owning up to their part in this crisis because I do not see that occurring.

We can extend this conversation to the heads of the financial institutions, the real estate speculators, or the mortgage brokers. The truth is that blame lies at every level. However, responsibility is something that most avoid. We prefer to play the blame game. This is nothing new. People are always complaining about the boss, spouse, educational system, or government for their woes. It is an easy way to approach life. Nevertheless, the victim mindset never succeeds. This is the fundamental flaw in this mess.

So, who is responsible for the financial crisis. I AM!!! You read that properly. I am one of the participants in the creation of this entire affair. Everyone can blame me for the loss of their portfolios over the last few weeks. If a family ends up on the street, I am at fault. The increase in the national debt also lays at my doorstep. I am responsible for all that occurs in my life.

How can I be the one to take the heat when I am not a political leader, head of a financial institution, or major Wall Street player? I do so because I am unwilling to play the victim. And, I am one of the people who stood by while others who are in position of power failed to take responsibility for their actions. We should all be outraged by these people. They all let the general public down in pursuit of their own self interest. Now the blame game begins.

Sadly, this attitude is not relegated to the powerful. Many of the readers of this blog fall into the same category. It is time to grow up and take responsibility for your life. If you do not like what is transpiring, change it. You are the only one who can. The entire nation needs people who are willing to step up. Tell all who will listen that you are responsible. Take ownership for it all even if it is not your fault. The habit is crucial to your future success.

Will this change in mindset influence the global economy? Probably not. It will, however, alter the effects on your life. By taking responsibility, you are then able to change what is ailing in your life. This is a radical difference as compared to giving all your power to another. With this situation, you need to change the other person to have an effect. This is impossible. The only one you can change is you. Therefore, proclaim that you are responsible for all that occurs in your life. Give yourself the opportunity to succeed. It starts with taking your power back.
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