Bail-out fall-out – some solutions to consider as the sky falls.
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I don’t have the book in front of me, but as I remember the story, Joseph Campbell had the most rational response to the Great Depression.
He read.
I found this at Wikipedia:
A few weeks later, the Great Depression began. Campbell would spend the next five years (1929-1934) trying to figure out what to do with his life (Larsen and Larsen, 2002:160) and he engaged in a period of intensive and rigorous independent study. Campbell discussed this period in The Hero’s Journey: Joseph Campbell on His Life and Work (1990, first edition:52-3). Campbell states that he “would divide the day into four four-hour periods, of which I would be reading in three of the four hour periods, and free one of them…I would get nine hours of sheer reading done a day. And this went on for five years straight.”
He also traveled to California for a year (1931-32), continuing his independent studies and becoming close friends with the budding writer John Steinbeck and his wife Carol (Larsen and Larsen, 2002, chapters 8 and 9). Campbell also maintained his independent reading while teaching for a year in 1933 at the Canterbury School during which time he also attempted to publish works of fiction (Larsen and Larsen, 2002:214) [2].
Campbell’s independent studies led to his greater exploration of the ideas of the Swiss psychiatrist Carl Jung, a contemporary and estranged colleague of Sigmund Freud. Campbell edited the first Eranos conference papers and helped to found Princeton University Press‘ Bollingen Press. Another dissident member of Freud’s circle to influence Campbell was Wilhelm Stekel (1868 – 1939). Stekel pioneered the application of Freud’s conceptions of dreams, fantasies of the human mind, and the unconscious to such fields as anthropology and literature.
I love that.
The sky was falling, so he took advantage of that time to improve his mind and prepare for what became an amazing career.
He turned it into something good.
It’s entirely possible that Mark Joyner’s famous advice, as related by Dr. Joe Vitale, applies to the current recession/depression: “When bad things happen, turn it into something good.”
For example, a lot of people are losing their jobs, and feeling like that is a bad thing.
A strong case can be made that the best possible thing that can happen to you is to lose your job.
A job is nothing but legal slavery. You weren’t put on this Eden-like planet to spend the majority of your waking hours making somebody else money. You were put here (as far as I can tell) to
- evolve spiritually, mentally and emotionally as far as you can
- embrace your brief time in this magical place with joy and gratitude
- and have as much fun as you possibly can
Campbell agreed. He said, “”If you follow your bliss, you put yourself on a kind of track, which has been there all the while waiting for you, and the life that you ought to be living is the one you are living.”
A similar philosophy appeared on my TV screen about a week ago from what I thought was a very unlikely source. I was flipping through the channels at half-time (I watch football) and I saw Warren Buffet addressing a room full of fresh-scrubbed MBA candidates. He quoted ME (wonder where I stole this quote? wasn’t Buffet), “Find what you love, and then find a way to get paid for it.”
He went on to point out that he was born in the right place at the right time with the right skills to become who he is today. Had he been born in “Sarah Palin Land,” where the dinosaurs chase the humans, he would have been picked off quickly. He can’t run fast and he can’t climb trees.
Had he been born in Africa, or South America, he wouldn’t have the skills to thrive.
He was born in the American mid-west at precisely the right time to become the most successful investor in history- by following his bliss.
By the way- if you view stocks the way Buffet does (as I understand it), you can pretty much ignore the stock market. The market is just other people’s opinion of what stocks are worth, and contrary to what they taught us in college, the market is highly inefficient. Especially right now.
Nobody knows nuthin’.
So, as long as there is some chance of your stocks retaining SOME value, and the underlying company doesn’t go broke or declare bankruptcy, I recommend that you stop reading the paper. What we’re going through is an example of a truth: what goes up must come down.
It’s equally true that what goes down must come up.
In a previous blog post I listed some of the jobs I’ve held. I was miserable at all of them- although I could perform most of them well. I was a great assistant County Auditor. I cooked a hell of a pizza.
But, I knew I wasn’t taking full advantage of the gift of life. I knew I was on the wrong path. I knew I was not happy.
That’s a pretty good gauge of whether or not you’re on the right path- if you’re following your bliss, you’re happy and successful.
The old cliche applies- it’s always darkest right before the dawn. I found out, staying in my desert cabin over Thanksgiving, that it’s also coldest right before the dawn.
That’s how it worked for me. Right before I started my online business, I was at my lowest point financially. My single-wide trailer house was repossessed. My music “business” had failed.
Broke sucks. Being a single parent and being broke is heart-breaking.
Then, just as it looked as if things were completely hopeless, Bill Hibbler introduced me to Dr. Joe Vitale, I went to my first internet marketing seminar, started my own online business, and quickly got semi-rich.
Right now, I have a feeling that we’re in that darkness right before the dawn.
Politically, things that have been shrouded in darkness are finally coming to light and we can see just how bad things are. That’s actually a good thing. You have to diagnose a disease before you can cure it.
If the new administration can live up to the hope we have for it, the torture and extraordinary renditions will stop, the lies and bullshit will stop, the theft and cronyism will stop- and a LOT of people will go to prison. I think it’s very important that the people who committed the crimes get to enjoy the consequences. I disagree with Attorney General Mukasey- in all cases, violations of the law are crimes. Especially when committed by those who hold the public trust… like, presidents and Attorney Generals, for example.
Socially, the age of excess is over. No, you are not entitled to a McMansion and a Hummer. That’s OK. They don’t really help.
Your self-esteem, and the way others view you, is rightfully based on who you are- not what you have or what you do. You are exactly as cool, intelligent and graceful as you are, and shrouding whatever deficiencies you have in those areas with material possessions doesn’t fool anybody- and keeps you from doing the necessary work to become the best you that you can be.
I’m glad that’s over.
And, this might be a good time to really think about what “wealth” really means to you.
Turn off the TV. Clear your mind of all the things you’ve been told about what wealth is. What is wealth to you?
Isn’t true wealth the same thing as happiness?
So, what makes you happy?
In my case, I really would be happy living in my little cabin in the desert. I require a vehicle that is dependable, and can navigate the rough roads.
I also require enough liquid capital so that I can do whatever I want to do whenever I want to do it.
Some people honestly need 5,000 square feet of house to be happy. My buddy Dr. Joe Vitale really, really likes his new Rolls Royce.
That’s fine. And, it’s honest because it’s not about what they’re told to want or have been conditioned to want.
There’s nothing inherently wrong with big houses and luxury cars. The Universe has unlimited wealth, and you can have whatever you want.
But, it’s also fine if you don’t need those things to be happy.
The important exercise is to sit with yourself and really feel what makes you happy. That’s success, and true wealth.
Financially, we’ve got a mess to clean up.
It’s about time.
The biggest mistake (in my opinion) that anybody could make would be to miss an opportunity to learn the lesson from this crash: If something doesn’t work, stop doing it.
Is that clear?
I wrote about this in my book, Your Portable Empire.
Capitalism is only fun is you own the means of production. That’s why you want a Portable Empire. An online business you can run from anywhere.
You can make a lot more money with a Portable Empire business than you can in a job. You can run it from anywhere you can get online- which is pretty much anywhere. You can attract customers from all over the globe, so if your local economy sucks, you’re not tied to a sinking ship.
Furthermore, and most importantly, you can live YOUR life. The life you know you should be living. Not the life your boss tells you to live.
You can get started by downloading my free eBook, “The Absolute Beginner’s Guide to Internet Wealth,” HERE.
Then, take advantage of the free MilagroWorld forum, HERE.
This moment, right now, can be the most important and valuable moment of your life- if you learn the lessons it has to teach.
Personal note: I’m celebrating the Solstice by getting a designer knee. The surgery is scheduled for Tuesday morning. I should be home Friday. I will be stoned out of my gourd for a few days on morphine, and to a lesser extent on pain-killers for a month. I will enjoy being distracted by physical therapists, home-health professionals, and LaRoja, who is a most persistent and thorough nurse.
Aluminum walkers, canes, and constant but diminishing pain will be my companions, and I have no intention of attempting to be graceful about it. I’m gonna hate it, and I will probably say so loudly and constantly.
I won’t be able to drive for (the doctor says, and I disagree) six weeks.
Stay tuned. I doubt if my blog posts will be cheerful, but they should be entertaining. Like Mark Joyner says, “when something bad happens, turn it into something good.” Major surgery, in my opinion, qualifies as something bad- although, the eventual outcome will be great.
Check back to see how I turn this into something good.
5 Responsesto “Bail-out fall-out – some solutions to consider as the sky falls.”
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Merry Christmas and hope the new knee isn’t too too cranky! I love the new blog look and this post in particular It’s true, you need to be part of the means of production so you can take care of yourself. I certainly have learned that the hard way.
MilagroWorld.com is the best!
Lynda
Pilates Goddess
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Hi Pat–Love what you said about Joesph Campbell and what he did during the great depression. I am taking that to heart because it resonates with me so much.
I like the new boss–because I really don’t think anyone is like the old boss–
But at least the old Boss can artfully dodge fast shoe throwing belting his way!!
The new boss has a different kind of gift that only “time” will fully reveal.
But we are still celebrating the Obama win here where I come from, because the Vibe is so much more–well–intelligent!
And that promises to continue!!
Recuperate thoroughly and soundly–will look forward to hearing how your recovery moves along.
Hi Pat,
Thanks for a cool-headed post.
One thing…I used to be attached to the idea that “If the new administration can live up to the hope we have for it, the torture and extraordinary renditions will stop, the lies and bullshit will stop, the theft and cronyism will stop- and a LOT of people will go to prison. I think it’s very important that the people who committed the crimes get to enjoy the consequences.”
Sadly, it appears that – in the words of Peter Townshend – we will “Meet the new boss…..same as the old boss.” So I’m no longer attached to that “outcome,” hard to abandon as it is.
But I’m with ya…
And as far as your recuperation is concerned, it sounds like you “know yourself” in that mode pretty well, which I find is a big half of the battle.
Tom W.
Hi Pat,
Good post. For what it is worth, I don’t think it is “in your face.” Not at all. It is very simply stated – do you see the glass as half empty or half full?
On my website I frequently repeat a statement – Think about this: If you work for someone else, by definition you are underpaid.
It’s called “PROFIT.”
Keep up the grand effort, Pat.
Rob