The Gap - how it happened

Many things that happen on Wall Street and in
London’s financial district are “socially useless,”
says Lord Adair Turner, chairman of Britain’s
Financial Services Authority

I believe that banking institutions are more dangerous to our liberties than standing armies. ~ Thomas Jefferson, 3rd U.S. President

"The financial industry grew rapidly in recent decades, as did the sums of money with which its players speculated on the prices of stocks, commodities and government bonds.

The products they developed to turn money into even more money become more complex.

At the same time, the risks they were willing to accept became incalculable." ~Der Speigel

The sector’s high salaries tend to attract the best and brightest university graduates. The members of this youthful elite don’t devise new products that make people’s lives better, nor do they found new companies that further progress.

Instead, these young financial wizards invest a great deal of money and effort to develop sophisticated financial products, the sole purpose of which is to generate more profit for both their employers and, ultimately, for themselves — sometimes at the expense of other market players or even their customers.

Many things that happen on Wall Street and in London’s financial district are “socially useless,” says Lord Adair Turner, chairman of Britain’s Financial Services Authority (FSA). The values that are created there are often not real or of any use to society, Turner adds. 

Paul Volcker, the former chairman of the US Federal Reserve, once remarked that the only truly useful financial innovation in the past 20 years is the cash machine.

Once upon a time ...

Once apon a time, in a coreign fountry, there lived a geautiful birl whose name was Rindercella. Now, Rindercella lived with her mugly other and her two sad blisters.

And in this same coreign fountry, there was a prandsom hince. This prandsom hince was going to have a bancy fall, and he'd invited people from riles amound, especially the pich reople. Rindercella's mugly other and her two sad blisters went out to buy some drancy fesses to wear to this bancy fall, but Rindercella could not go because all she had to wear were some old rirty dags.

Finally, the night of the bancy fall arrived and Rindercella couldn't go. So she just cat down and scried. All at once there appeared before her, her merry fodgither. And she touched her with her wagic mand ... and there appeared before her, a cig boach and hix white sorces to take her to the bancy fall. But now she said to Rindercella, "Rindercella, you must be home before nidmight, or I'll purn you into a tumpkin!"

When Rindercella arrived at the bancy fall, the prandsom hince met her at the door because he had been watchin' behind a widden hindow. And Rindercella and the prandsom hince nanced all dight until nidmight...and they lell in fove. And finally, the mid clock strucknight. And Rindercella staced down the rairs, and just as she beached the rottom, she slopped her dripper!

The next day, the prandsom hince went all over the coreign fountry looking for the geautiful birl who had slopped her dripper. Finally he came to Rindercella's house. He tried it on Rindercella's mugly other ... and it fidn't dit. Then he tried it on her two sigly usters ... and it fidn't dit. Then he tried it on Rindercella ... and it fid dit. It was just the sight rize!

So they were married and lived heverly after happers. Now, the storal of the mory is this: If you ever go to a bancy fall and want to have a pransom hince loll in fove with you, don't forget to slop your dripper!

And then there's the story of the Pee Thrigs, ... but that's another story.

This was a Hee Haw gag from mid-century; my dad used to tell us the story this way when we were kids. 

Youth Rises

Malala Yousafzai, the young Pakistani schoolgirl
activist who was the victim of an assassination
attempt by Taliban

Oriana Lopez Uribe, Mexican youth
activist for sexual and reproductive
health services and information.

I'm encouraged by today's young folks.  Given the chance, they tackle the hard tasks like the teen blogger who took on the Taliban in Pakistan..  And look how they've done as a youth movement in the Arab States.  They jump on board with new technology without missing a step.

"In Mexico, brave HIV-activists are blogging to inspire others with their stories. In many countries, human rights activists are using social media to raise awareness and action. In Macedonia, street artists are using their art to provoke emotions in young people elsewhere. A young rape survivor in the United States used local radio to raise awareness and say – enough is enough, are you with me?"

A 90 Days Christian Youth

Fasting and Prayer for a

new Nigeria

Peace activist Tawakkul Karman has been a key

figure among youth activists in Yemen. She was

a prominent critic of Yemen's President Ali 

Abdullah Saleh even before the mass uprising 

erupted against him in January. Since 2007, she 

has organized small-scale protests to demand 

greater rights for women and freedom of the press.  

The 32-year-old mother of three is the first Arab

woman to win a Nobel prize.

A question for the younger folks...   

You've got connections; some of them on the far side of the world now thanks to social media.  Do you feel connected to your peers across religions, nationalities, traditions and cultures? The question goes beyond how many peers you've befriended on Facebook.

Serious-minded young people. In Nigeria. In church.

Worth knowing: Is their happiness your happiness? Is their hardship yours to deal with, too?   Their struggles with unemployment, hunger, climate change, conflict; are these now on your plate?

Today, we are all part of a big, interconnected family. Actions taken in your country have an impact on other parts of the globe, our common home.

We're connected everywhere. Virtually, we are there and they equally are here. There is no Planet-B.

The Gap

We know a few things about 2020 for certain ...

• more distance between rich and poor
• more access worldwide to the internet
• more unbalanced population growth
• more resource constraints

The gap between the rich and poor of the world

While the wealthy (successful) nations rise, the less fortunate nations stagnate or decline.  Within nations, the wealthy (successful) folks increase their wealth rapidly while the rest stagnate or lose ground.

Ethiopian home life in the center of the nation's capital; I

took this photo from the balcony of a 4-star hotel.

The world is progressively dividing itself between the wealthy few on one side and everyone else on the other.

The $10 dollar a day figure here is well below the poverty threshold in the US
and is provided here to give a more global perspective to these numbers;
the World Bank, however, has felt it is not a meaningful number for the
poorest because they are unfortunately unlikely to reach that level any
time soon.

Governments support the wealthy almost exclusively.  Success supports itself by arranging for more success, wealth with more wealth.  It doesn't trickle down.  It doesn't raise all boats.  The gap widens.

Most people in the world live in poverty.  That's an astonishing statement, particularly because it points to the threshold of survival.  If it's true that most of the world lives there, then those of us who are wealthy don't understand, or if we do, then our minds are calloused, perhaps inordinately selfish, and in denial about legitimate reality.  (We're not real; they are.  We're artificial, supported by fiction, by theft and abuse, by a Tinkertoy structure that the real world doesn't recognize.  OK, that's too bizarre for words.)

Disappointingly, the success of the wealthy is often at the expense of others.  We note that success brings jobs and upward mobility for many.  The actual results aren't so encouraging, though. “Nearly one in six Americans are living in poverty, including a record number of women, and the middle class is struggling amid falling incomes, rising prices, and persistently high unemployment.”
 ~ Andrea Saul  

It varies from city to city and region.

As an example, Washington, D.C. has a dramatic spread across the quintiles with the top income households raking in fifty+ times more than the bottom quintile.  Income for the top 20% is more than the combined income for all the rest.

Where are the key control points?
Not agriculture.  Not education. Not transportation or small businesses.  Probably not even health care. 

Business began between a fellow with grain and another with cows.  They worked out a deal so both could have food and the means of survival.  Or something like that; it was a mutual benefit arrangement.
 
Farms and factories provide food and goods in exchange for the means to have other food and goods.  Not terribly troublesome although larger corporations tend to undervalue their workforce.  The service industries provide skills and labor for daily life's needs.  Resellers like Walmart handle distribution well, but they push the ethical envelope by encouraging unfair labor practices overseas.  

Then there are the banks ...  The community bank was birthed to serve as an intermediate agency between community members, but her illegitimate children on Wall Street have become manipulative giants with tentacles reaching into governments and the rule of nations. 

Many things that happen on Wall Street and in London’s financial
district are “socially useless,” says Lord Adair Turner,
chairman of Britain’s Financial Services Authority

 Thomas Jefferson said in 1802:
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered."

"The financial industry grew rapidly, as did the sums of money with which its players speculated on the prices of stocks, commodities and government bonds. The products they developed to turn money into even more money became more and more complex. At the same time, the risks they were willing to accept became incalculable.
The sector’s high salaries tend to attract the best and brightest university graduates. The members of this youthful elite don’t devise new products that make people’s lives better, nor do they found new companies that further progress. Instead, these young financial wizards invest a great deal of money and effort to develop sophisticated financial products, the sole purpose of which is to generate more profit for both their employers and, ultimately, for themselves — sometimes at the expense of other market players or even their customers.
Many things that happen on Wall Street and in London’s financial district are 'socially useless,' says Lord Adair Turner, chairman of Britain’s Financial Services Authority (FSA). The values that are created there are often not real or of any use to society, Turner adds."

If 80% of the world lives in poverty, then by analysis, that's the 'norm'.  The wealthy are abnormal, anomalous, and perhaps even cancerous tumors in the world.  Their contribution appears to be progressively less relevant and more destructive as the years pass.  It's been that way for centuries; wealth cultivates its own interests at the expense (on the backs) of others.   

Is our view of the world perhaps upside down?  Are the wealthy in fact the abnormal?  Are they like most of the financial industry?  Socially useless? Just criminals, destructive to all 'normal' folks?  Perhaps so with just a few exceptions like Gates and Gutenberg and the innovators that create great jobs and products.

We'll adjust and adapt of course, but by what path?

Interesting prospects, most of which are volatile, and as usual the poor (normal folks) will carry the bulk of the burden. 

“The gains from economic growth in 2011 were quite unevenly shared as household income fell in the middle and rose at the top,” Robert Greenstein, president of the Center on Budget and Policy Priorities in Washington, said on a conference call with reporters.

Average incomes fell for the bottom 80 percent of earners and rose for the top 20 percent, highlighting the need for “those at the top to share” as the nation looks to reduce its budget deficit, Greenstein said.

An ethical economy would make a place for all who were willing to work and contribute, would it not?

The only way for a small group of people to become obscenely rich is for huge masses of others to be kept quite poor.

Childhood is not the goal ...

As an ancient father pointed out, we're not raising children; we're raising adults.  Just a turn of phrase, but his point, kids learn adult thinking from us.  Personal safety,  ethical balance, morality, nobility, unselfishness and compassion, courage, clarity in analysis.  We teach by word, and much more effectively, by example.

Childhood is not the goal, it's the pathway.

Classroom in Kenya

School under a bridge, India

Our hope is that for each child, their early years will include the lessons needed for decision making, the affirmation needed for a healthy self-image, and the experience needed as a foundation for faith in a loving heavenly Father.

Food, water, shelter, safety, a loving family, school.  The basics are a short list; they're enough as a beginning, I suppose.  Oh, and 'hope'.  We want so much for our children to grow up with a heart full of hope and expectation, possibilities and distant horizons filled with wonder.

American classroom

Do the decisions we make as a nation reflect our hope for the world's children as well as our own?  And for their future?

Our petty infighting over the fiscal cliff is disturbing the marketplaces of the world again.  Just like last year and the year before and the year before that.  Such things have an impact that the wealthy don't see.

Note the timeline.  Misbehavior by wealthy nations has brought
trouble to the marketplace.  The wealthy complain about their
investments; the poor suffer real loss and some starve.

The world price of corn has more than doubled in recent years, triggered by the market collapse we caused.  Children in Kenya survive on maize meal (corn meal), but the price fluctuations mean they can't afford to eat.  A family that spends all their income on food can't afford the increase, so ...  Such disruptions often mean kids drop out of school as the family struggles to eat.  Many never return, and poverty persists for another generation.

Do the decisions we make as a nation reflect our hope for the world's children as well as our own? 

Northeast Mombasa, street vendors and buyers. 
The nice stores are for the wealthy.

Different thinking is due.  Over due.  Way overdue.  Tell Steny Hoyer.  Or your own congressional reps.

The family business, pushed to the market area ...

Just down the road from our work site, children and their
teacher make do with a shaded area for the classroom.  No
chairs, no desks, no fan, no air conditioning ...

Have you noticed?  You have access to more educational material than you'll ever be able to use.  These kids, on the other hand, beg for the chance to study and learn.  Now is the opportunity they have.

We can help.  We can make a difference.

Heart issues

This year for Christmas, a family's children decided they didn't want gifts; they wanted instead to send help to children and their families in Kenya.  Others in the extended family heard and did the same.  I'm stunned.

We have about twenty families with whom we are directly connected in Kenya.  There are about fifty kids in the village on our education project; more than a dozen are orphans.  There are a couple of goals:  

• If the kids stay in school, they eat.  The meal the school provides is all some kids get most days.
• School equips them for employment later on, we hope. 
• Work with families focuses on small projects for income.  Buying and selling, raising vegetables, making clothes.  A little start-up help goes a long way. 

Corn and water in a Kenya school kitchen; pretty much life and death issues, unfortunately.

 It's been a really difficult year.

Poverty is a tough cycle to break.  Progress from generation to generation can be excruciatingly small, and a bad year can take it all back.  

In the most difficult of areas, water and food, shelter and sanitation, education and healthcare (of any kind) are in short supply.  Simple skills like avoiding contaminated water require community action and support. 

Thank you Father for the chance to know and help.  Thanks for the generosity of children that makes today's efforts possible.