In recent decades the world changed radically. But capitalism didn’t.
Well, that is until September 15, 2008.
Capitalism was forever changed on that day when Lehman Brothers, a 158-year American institution, collapsed. For what collapsed on that day was not just a bank or a financial industry. What fell apart that day was an entire philosophical economic system.
Don’t agree? Look no further than 18-year Federal Reserve Chairman, Alan Greenspan’s testimony before Congress on October 23, 2008.
Most people are severely underestimating the EPIC disruption that occurred in the months following Lehman Brothers collapse. In fact, I believe history will prove it to be far more significant than the Great Depression.
As we speak, I think the world is resetting itself economically, socially and spiritually. While the 30’s may have been the Great Depression, I believe right now we are in the Great Reset, but this reset isn’t just happening in America. We’re in a global economy now. (See the rise of China and India, the complete country collapse of Greece and Ireland, the uprising in Middle East, then look at the record number of unemployed and poverty stricken Americans.)
A Crisis or Catalyst
Now let me be clear, capitalism was not destroyed by the most recent crisis, it was just irrevocably changed. Capitalism by its very definition is an adaptive social system that mutates and evolves in response to a changing environment. We know the traumatic events of 2008-09 will neither destroy nor diminish the fundamental human urges that have always powered the capitalist system—ambition, initiative, the competitive spirit. These natural human qualities will instead be redirected and re-energized to create a new version of capitalism that will ultimately be even more successful and sustainable than the system it is replacing.
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