Thursday, October 16, 2008
What is Wealth?
In 1989,Seymour Durst, a Manhattan real estate developer, created Times Square's National Debt Clock, which has been tallying up money owed by the U.S. Government.
Well, it has quickly run out of spaces!
In September of this year, the digital dollar sign was eliminated to make way for an extra digit -- the "1" in $10 trillion (a new clock is in the works that will make room for a quadrillion dollars of debt).
A quadrillion dollars?
The recent economic news has me thinking about "wealth." Trillions in the stock market gone. GONE! Where did it all go? Of course, the word "greed" is being bantered about rather liberally. We seem to love Wall Street when it's making us money, but... It's funny, as one commentator wisely said, Wall Street without greed would just be pavement.
Deepak Chopra reminds us in a recent post on his site: “Jesus was asking a serious question when he said, “What does it profit a man to gain the whole world if he loses his soul?” By the same logic he told his listeners to store up wealth in heaven, not on earth. This turns out to be good economics, because the more you attach your worth to money, the more harmed you will be in a crash. But there’s much more to it, of course.”
What is wealth?
How about this: You are wealthy if you don't need the things money can buy in order to prosper.
Here is his recipe for bailing ourselves out of this financial crises:
* Reject fear and pessimism.
* Know what your vision is and act upon it.
* Don't blame others and seek payback when things go wrong.
* Prosper inwardly through love, generosity, giving, and altruism.
* Stop identifying with your salary and possessions.
* Work for the common good whenever you can.
What's today's Knight's lesson? "Every crisis comes with opportunity," writes Chopra. "Knowing the difference between wealth and money provides the wisdom to seize these creative opportunities."
Sir Bowie "wondering what my personal debt / wealth clock is reading" of Greenbriar
Posted by dkWells