Tag Archives: vMEME

Is there a Shakeup in Obama’s White House?

The same public discontent that elected Scott Brown to the US Senate seems to be making its way through the White House. So long Ivy League thinking (healthy ENTERPRISE  intelligences), and hello dysfunctional LIFE CONDITIONS, or so admitted our President in a recent interview with ABC News. One of the areas of greatest dysfunction in his administration’s first year, in my opinion has been the ill-advised approach on how to regulate the financial industry. Here’s the noticeable change in our President’s approach as his thinking grows on the job

When the financial crisis was still brewing, speeches by our President-elect were full of what people wanted to hear about re-regulating banks as seen by his head of economic advisers at the time, Paul Volker. As former head of the Federal Reserve, and a Goliath in taming inflation, Volker wanted to separate investment banks from commercial banks (just like they were for 60 years before Clinton de-regulated them). Volker had an untainted view on re-establishing the  ORDER value system (vMEME) to an industry plagued with clever speculation of a FEUDAL vMEME  at a systemic level.  Once Obama took the helm, Volker was sidelined in favor of Larry Summers, Wall Street’s darling who lobbied for deregulating banks and banning any regulation of the derivatives market during his time in the Clinton administration. Many economists argue that these two factors were the major contributors to the global financial crisis.

During the past year, while millions of Americans continued to lose their jobs and the number of homes in foreclosures climbed to over 5 million, Wall Street recovered at a record pace knowing its guy was advising the White House (injecting it with a false ORDER vMEME). Only after the loss of 2 gubernatorial seats and one senate seat to the republicans did the President realize that all is not well with the electorate and that the anger of the tax payer can indeed make him a lame duck President by the time he’s 2 year into the job. Deciding to turn back to Volker’s recommendations immediately after Brown’s election was the first  move from a SYSTEMIC vMEME the President has made since his election. As proof, since the President introduced “The Volker Rule” on Tuesday the Dow Jones has dropped more than 5% and the vultures in the financial industry are running to the exit doors.

It remains to be seen if the President has the capacities to transcend “pragmatism” (healthy ENTERPRISE vMEME) to a “systemic thinking” vMEME in formulating all his policies. His next area of challenge is foreign policy and the Middle East. Would he still be content with doing nothing and stay behind George Mitchell who claims much of the credit for bringing peace to Northern Ireland but has accomplished nothing in a year in the Middle East (“pragmatism” of past accomplishments), or would he be willing to roll up his sleeves and do the work that the world needs done?


Destruction by an UNHEALTHY ENTERPRISE value system (vMEME) Continues

A new academic paper written by Brent T. White, a law professor at the University of Arizona, calls on 15 million American homeowners to ignore the social messages of shame, and walk away from their underwater homes.

The paper, titled “Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis,” argues that homeowners are losing out on hundreds of thousands of dollars by trying to float underwater homes. Click this link below to read the full article on the First Tuesday blog.


Here’s where Economics meet Memetics: This is yet another example of a regulatory value system (ORDER vMEME) unable or unwilling to fully exercise its power to protect the consumer , while an UNHEALTHY ENTERPRISE vMEME continued to lend money to people who can’t afford it and refuses to acknowledge its own past mistakes). I fully support putting an end to the first time buyer subsidy (inducing the HEALTHY ENTERPRISE vMEME under false pretense to prevent real market price discovery) and whatever program that will empower these 15 million homeowners to walk away. Loan modifications by banks are currently a joke thanks to a $Trillion + Bailout where banks took the money to cushion their balance sheet instead of doing the real work of writing down the value of their loans.  Our tax money has empowered the bankers to make us poorer. Reversing that is where the Obama administration should be focused. What do you think?