What is under the house of cards?

It has been said that our financial system is merely “a house of cards.” That could be true, but it really is a system.    by definition a system is: 1. A group of interacting, interrelated, or interdependent elements forming a complex whole, (Merriam-Webster online DICTIONARY http://www.merriam-webster.com/dictionary/system )  in the case of large systems like the tetonic plates of the earths crust the system is loosley based upon a set of rules, these rules govern what happens in the system of geology.  like geology, economics AS A SYSTEM is massively huge and to understand it, it is best viewed from a long distance.  that is why we have satelites observing the earths crust.  even if you look at our countrys economics or the worlds economic systems as houses of cards, there is still a table under it that holds it up.  all systems abhore two things; an excess and a vacuum.  in the case of our economics the excess is greed and corruption.  as i look back in history i see that every economic crash is followed by a moral reform.  it is that moral that is the table that holds up the house of cards. when the house comes tumbling down the table is still there and historically the house gets built again.  so what is the moral table holding up our economic system?   it is the moral of the fair deal or mutual agreement.  with out that moral there would be no commerce, no exchange, no sale or purchase, no labor and paycheck.  all free markets of the world, whether a country or state, have adopted a code or set of laws that govern their market.  it is called the uniform commercial code.   this is a law that was drafted in the united states in 1952. (see: http://en.wikipedia.org/wiki/Uniform_Commercial_Code )    This code has been redrafted in each state, and almost every country that the us does buisness with.  without this law no business gets done.  in fact in some cases this law can superced common law in individual and global issues.   in the uniform commercial code is a moral definition called an agreement (see: ucc § 1-201. General Definitions and § 1-303. Course of Performance, Course of Dealing, and Usage of Trade) these two artilce of code use the word agreement.   this is defined as: 1) n. any meeting of the minds, even without legal obligation. 2) in law, another name for a contract including all the elements of a legal contract: offer, acceptance, and consideration (payment or performance), based on specific terms. – law.com: http://dictionary.law.com/default2.asp?selected=2376&bold=||||   this is the moral table that all economic systems are built upon whether they are brick and mortar or of cards. when the cards fly and the dust settles, in other words the corrupt individuals are found, tried and sentenced.  they are always replaced by those who have this moral as part of their belief and behaviors.  then most values become close to being honest again and the economy can be rebuilt on that moral trust again.  yes this is a good time to not be wealthy because the inflateded definition of value is about to get readjusted and they will percieve this as a loss.  but on the whole, looking at the bigger picture this is a good THING; because of the built in moral the system of economics is actually SELF-REGULATING.  this has always been the historical cycle of the system of economics.  so hold on the ride isn’t over yet, but when it is we’re all going to smile again.

Replies

deleted_user
deleted_user

I agree, there is light at the end of the tunnel!
deleted_user
deleted_user

So the question to ask is whether I favor regulation or de-regulation of the banking and finance industry? I see it like driving down the freeway. Do you want your high school driving instructor always in the seat next to you? Do you want a patrol car driving in your blind spot watching your every move? To me that is over regulation. Do you want that same patrol car stopping the reckless speeder? I favor de-regulation with oversite. That is to have enough freedom of choice to have options and flexibility, yet enough oversite to keep the dangerous people off of the financial highway.