Changing World the Combined Effects

¶ … Changing World

The combined effects of the scandals in financial institutions including banks and insurance companies, the Madoff scandal and the apparent confusion at the highest levels of the U.S. government of how to turn the economy around have made many people not just in the U.S., but globally, skeptical and mistrusting of what these institutions say. The lack of trust has never been higher and the value of truth, never stronger. In addition to these trends is that of social networks and technology being used to strip away the veneer or facade of people, celebrities, companies and governments. The "Arab Spring" that occurred in Egypt is a case in point, with a tyrannical dictator who willingly let the children and the poor of his country starve while his family enjoyed a very wealthy, privileged lifestyle also defines this dynamic.

All of these changes in the world make one realize that trust is more valuable than gold and it is the best currency there is. Ironically it is because of the lack of trust that the institutions many had believed in the majority of their lives are failing today. The mortgage system, once the backbone of the American economy, responsible for fueling consistently high investment in construction, manufacturing and global consumption was compromised by bankers so greedy for their own gain they literally sold out on their own country. With over 50% of mortgages today having been written by subprime lenders often to borrowers who had no way to make the monthly payments once the full interest rates kicked in, these predatory lenders rightly deserve the anger of the American public. They comprised the very platform of American economic growth. Yet the U.S. Congress and even the President allowed this to happen and still has not stepped in to fully stop it.

Trout, candor, honesty, authenticity, transparency are what many are demanding right now, yearning for. I think all of these events have made me realize that the trust you have with others is the most valuable possession you have, and to build on, respect and strengthen that trust is very important. In this era of high skepticism, the need to be real, transparent, open and honest has never been greater. Social networks are another aspect of this and while many feel a sense of Internet fame and delusions of popularity based just on their follower count on Twitter or friend count on Facebook, real influence is being able to do what you say you will, time after time, and delivering on the promise of trust to your friends. For social networks to function there has to a reciprocal nature of sharing information, status, who you are. But too many people in my opinion share the dull, boring banality of their lives by taking pictures of their lunch or dinner at a fancy restaurant, trying to evoke envy. This makes me unfollow and unfriend people because social networks should be about strengthening the bonds of trust, not attempting to play the popularity game.