Visions of Grandeur

I had an interesting conversation with my mother in law this morning. She's in town to make sure the kids don't burn the house down while I'm taking a class and my husband is hunting in the mountains of Colorado. My last article in the DMN mentioned the bankruptcy that my parents had to file during the mid-80's, and she was horrified that I had revealed that. In her mind, bankruptcy is akin to telling everyone that you have a venereal disease, apparently. No wonder, since she is still smarting from losing a huge chunk of her retirement nest egg, and she blames frivolous bankruptcies in part for the economic flame-out.

However, I don't view what my parents went through as shameful. They were the hardest-working people I know. Farmers everywhere take out short-term loans to purchase seed, fertilizer, equipment repairs, and fuel to run the behemoths that modern farming require to make a living. Back in the 80's, many weather-related issues made prompt repayment difficult, and hundreds of small family farms went under. We were able to maintain core acreage, but in order to stave off the banker's grasp, 1,000 acres were reduced to only 300. I was in college at the time, and it was largely out of view for me, though the stress and anxiety were written all over my parents' faces when I came home for visits.

Today, however, I understand Anna's position. She has neighbors who financed a total house remodel, only to file for bankruptcy to avoid paying the bill. We all hear about the people who run their credit cards to the hilt and then slide out from underneath their responsibilities with no apparent recourse for the people waiting to get their money. Many new regulations have been put into place to make bankruptcy a less attractive option, but it's been a popular way to go for far too long. Should the stigma of Chapter 7 be reactivated? Wouldn't hurt, but I'm afraid that's a bit like closing the barn doors after all of the horses have escaped.

We're in for a major paradigm shift in this nation. No longer will the free and easy credit be so easy to obtain, and that's going to slow down runaway consumption in a hurry. Right now, I'm in the midst of a major dilemma to allow my children to run off to Target to blow their allowance on frivolous things like video games and CD's, or to stand my ground and insist that they leave it in their savings. Naturally, they are all for spending MY money, but far less enthusiastic about spending their own. Funny how that works...

Now, suddenly people are waking up to the realization that our own government has been acting like the spoiled brats that inhabit our schools, and it's ugly. After all, we gave them tacit permission to run rampant with our money, and they had a blast! Like all parties, though, it has ended, and this is going to be a doozy of a hangover.

We're all guilty of believing that "we're worth it", and "we've worked hard, so I deserve a break today". Great advertising slogans, and not necessarily false. However, we've taken them to extremes by taking more "breaks" than work, and our over-inflated sense of self has become an obsession with superficiality. While I don't welcome the steep decline in my retirement account or the oppressive sense of gloom and doom in society, I'm glad for the return to reality. Seriously, who needs a $90 mani/pedi - for their dog? Fifi will just have slum it for a while with the rest of us, at least until we as a whole regain our senses, stop the panic selling, and allow the markets to normalize.

Our new normal will require internal realignment, and that will become evident in our external environment. That's why I got interested in Feng Shui, since that's what it's all about. I've been getting a lot more interest in my chosen career, and little by little, my clients are making small changes that add up to big advances in their lives. It's wonderful to be able to have a small part in their personal journeys. But that's another story....