Some thoughts on… Bringing in the New
With the promise of a new year comes the thrill of making resolutions, which are typically cast aside by the end of February. In the spirit of creating messy resolutions that attempt success on multiple dimensions, what are some things I am hoping to achieve this year?
Deleveraging Happiness. One of the morals of the current economic fiasco is that American individuals and companies must deleverage their financial debt. American companies have been borrowing debt on their balance books to finance activities which led to overextension and overvaluation. Individuals have acquired credit with minimal savings to obtain houses and goods which they can’t afford. And now, the government will have to issue debt to purchase a bailout of the economy. At the end, these actions can only be accomplished globally if others are willing to save and lend the money.
We all need to borrow at some point but the intrinsic promise of that desire is the ability to pay off the debt in the future. But now cash is once again king. Banks that before were keeping minimal stores of cash on their books, are now building up assets. Producing and creating services to sell them rather than borrow for greater acquisition is the old mantra that is new again.
Applying this philosophy to a personal level, I am going try and deleverage my sources of happiness. We are all seeking the elusive source of contentment. Some find it by traveling to a beach resort, others by purchasing new clothes. Rather than relying on other people or things to provide satisfaction, I am going to seek my own fulfillment. I am not looking to become ascetic, but to bring joy to myself and others around me through my own actions. Clark Gersner in his musical You’re A Good Man Charlie Brown based on the Charles Schultz comic strip points out, “Happiness is anyone or anything at all that is loved by you.”
Exporting Pride. In the past few years, the US’ standing in the world has fallen. On numerous measures this is true – investment in education, reduction in greenhouse gases, access to minimal health care. Visiting other countries abroad, one pronounced dimension is our moral standing. We were viewed internationally as a country that had realized great promise. Presidential visits were regaled affairs and boulevards were named after them – Palermo, Italy (John F. Kennedy); Bordeaux, France (Franklin Delano Roosevelt). We imported bright minds to attend universities and held our position as a country allowing any immigrant to become part of the American dream.
Similar to how a leader can be shunned by others for a lapse in principles, we have lost respect amongst our allies. But that trust can be restored, but it is not the duty of the Administration alone. All of us living in the country should have a responsibility for exporting our pride in the US to the people of other nations. To conduct this sincerely, we need to characterize what we are actually proud of – the historical resiliency of the US economy, the long-standing ability of our political system to self-correct, the dedication to public service of the citizenry, the excellent choices of Obama for his cabinet – and communicate those ideas.
We all want to believe in our country. The conveyed pride is not based on unchecked nationalism, or susceptibility to political spin, but a genuine consideration for why we wish to live in this country. Everyone who lives here is an ambassador for the country.
Investing in Family and Friends. With stocks in a tumble and the market willing to place large amounts of money in treasury bills that provide 0% interest, i.e. letting the Government just hold your money for a fee, it’s difficult to know where to spend. So why not invest with the people you know and trust?
This isn’t just financial investment – although helping to pay for your sister’s education or buying your friends dinner is never a bad thing – but about emotional and spiritual investment as well. Creating occasions to be with friends and expending effort to support their activities may be the most profitable venture you can make. Personally, I am going to make an effort to see our direct family more than once this year. This may seem a scant, but actually quite difficult given dispersion through Denmark, California, Dubai, India and DC.
OK, ok, so the last part of the resolution is a cop out, since there is a one-dimensional goal to achieve, but sometimes a little simplicity isn’t so bad (as long as we don’t retreat there). So what are you willing to initiate with the new year?
January 4, 2009
Deleveraging Happiness. One of the morals of the current economic fiasco is that American individuals and companies must deleverage their financial debt. American companies have been borrowing debt on their balance books to finance activities which led to overextension and overvaluation. Individuals have acquired credit with minimal savings to obtain houses and goods which they can’t afford. And now, the government will have to issue debt to purchase a bailout of the economy. At the end, these actions can only be accomplished globally if others are willing to save and lend the money.
We all need to borrow at some point but the intrinsic promise of that desire is the ability to pay off the debt in the future. But now cash is once again king. Banks that before were keeping minimal stores of cash on their books, are now building up assets. Producing and creating services to sell them rather than borrow for greater acquisition is the old mantra that is new again.
Applying this philosophy to a personal level, I am going try and deleverage my sources of happiness. We are all seeking the elusive source of contentment. Some find it by traveling to a beach resort, others by purchasing new clothes. Rather than relying on other people or things to provide satisfaction, I am going to seek my own fulfillment. I am not looking to become ascetic, but to bring joy to myself and others around me through my own actions. Clark Gersner in his musical You’re A Good Man Charlie Brown based on the Charles Schultz comic strip points out, “Happiness is anyone or anything at all that is loved by you.”
Exporting Pride. In the past few years, the US’ standing in the world has fallen. On numerous measures this is true – investment in education, reduction in greenhouse gases, access to minimal health care. Visiting other countries abroad, one pronounced dimension is our moral standing. We were viewed internationally as a country that had realized great promise. Presidential visits were regaled affairs and boulevards were named after them – Palermo, Italy (John F. Kennedy); Bordeaux, France (Franklin Delano Roosevelt). We imported bright minds to attend universities and held our position as a country allowing any immigrant to become part of the American dream.
Similar to how a leader can be shunned by others for a lapse in principles, we have lost respect amongst our allies. But that trust can be restored, but it is not the duty of the Administration alone. All of us living in the country should have a responsibility for exporting our pride in the US to the people of other nations. To conduct this sincerely, we need to characterize what we are actually proud of – the historical resiliency of the US economy, the long-standing ability of our political system to self-correct, the dedication to public service of the citizenry, the excellent choices of Obama for his cabinet – and communicate those ideas.
We all want to believe in our country. The conveyed pride is not based on unchecked nationalism, or susceptibility to political spin, but a genuine consideration for why we wish to live in this country. Everyone who lives here is an ambassador for the country.
Investing in Family and Friends. With stocks in a tumble and the market willing to place large amounts of money in treasury bills that provide 0% interest, i.e. letting the Government just hold your money for a fee, it’s difficult to know where to spend. So why not invest with the people you know and trust?
This isn’t just financial investment – although helping to pay for your sister’s education or buying your friends dinner is never a bad thing – but about emotional and spiritual investment as well. Creating occasions to be with friends and expending effort to support their activities may be the most profitable venture you can make. Personally, I am going to make an effort to see our direct family more than once this year. This may seem a scant, but actually quite difficult given dispersion through Denmark, California, Dubai, India and DC.
OK, ok, so the last part of the resolution is a cop out, since there is a one-dimensional goal to achieve, but sometimes a little simplicity isn’t so bad (as long as we don’t retreat there). So what are you willing to initiate with the new year?
January 4, 2009