New Financial Paradigm: Enough Is As Good As A Feast

There's a technique used in the sales process called mirroring. Mirroring is process of building trust with someone by reflecting their words and expressions back to them, by using similar language, gestures, and allowing the person you are trying to influence, to be heard. Mirroring is a powerful behavior modification technique because it subconsciously conveys the idea that "I am like you are". This perceived synchronicity helps the salesperson build trust, melt resistance and quickly close the sale. Techniques like this to build trust are fine if you back things up with honesty, integrity and a good product. However, convincing people that "I am like you are" to make them feel better in the short term, and then turning around and sticking it to them, is disingenuous at best, and manipulative and fraudulent at worse.

Click to Play Robert Ian's GoldSeek Radio Commentary  Download mp3

This is exactly what our political leaders have done to us (again) in recent weeks. Healthcare was full steam ahead as long as there was a filibuster-proof majority in the Senate. But now that Scott Brown was elected in Massachusetts, things can no longer be unilaterally forced upon us, filibusters are once again possible, and so the congressional leadership has graciously agreed to listen to the people and possibly re-think options to healthcare. Or take the public outcry and anger about Tim Geithner and Ben Bernanke's continued role in the global financial crisis and the devastating effect this continues to have on jobs, families and the futures of countless Americans. People are mad and Washington isn't listening.

To placate this backlash and growing dissent against lawmakers and the executive branch, the President came out swinging last week about getting tough on banks and their investment practices. He did his best to try and make the public feel that he understood their anger and plight, and was finally going to do something about it. There were even rumblings Ben Bernanke might not be reconfirmed as Fed Chairman. Well, it doesn't matter if Uncle Ben is Fed Chairman or not. A likely replacement would be Larry Summers. In other words, same team, different jersey, only a little more so. But we need not worry. After threatening to get tough on bankers and convincing many people he finally got it, President Obama initiated a telemarketing campaign to congressional leaders, including many Republicans, to help shepherd Bernanke's confirmation through congress. When it comes to Washington, the more things change, the more they stay the same.

The administration and congress are at least one year and trillions of dollars late in suggesting that something be done about the banks. It's too late. You and your family have already been sold into financial slavery for decades to come. The money being printed and spent today is nothing but a promissory note on your future production. Today's expenditures will be paid for by the productive labor of your children and grandchildren. Economics, expectations and definitions of success must be redefined. Success isn't about what we have, it's about who we are and what we think. The old paradigm of "more stuff" is being replaced with the new paradigm that says "enough is as good as a feast".