Posted by: Michael George Daniel | November 7, 2008

Wave of Consciousness

An interesting thing happened over the weekend during a holistic fair in East Haddam, Connecticut. Surrounded by holistic practitioners, and people interested in the various modalities represented, there were some interesting energetic connections made. The facility  took on a distinctly vibrant light; it was also a beautiful day. Most notably, there were several conversations about the current financial crisis enveloping the world. The perspective that came out of these conversations is worth sharing and considering. The current financial crisis represents a wave of consciousness moving through the world, a harbinger of change where our currents beliefs about value are changing. This is distinctly related to the essence of our unsustainable economies. The world is waking up to the inevitability of the shift from what was thought to be of value, but is not, to value based on a much greater level of congruency with the natural life systems of the earth.

The current financial crisis is a result of a loss of faith in financial instruments. This is described mostly, in the media, in terms of housing prices: that which people are willing and able to pay for a home in the US, and elsewhere, has fallen. The result of this falling value then impacts homeowners perception of their own wealth. They react accordingly and there is a cascading effect. But much less reported is the collapse of value of the leveraged financial instruments that make up an enormous share of the economy. The loss of faith in the underlying fundamental value of these leveraged products has resulted in a catastrophic collapse and loss of perceived wealth from the economy.

In the US, our economic activity has shifted from the production of tangible items needed to support life – food, water, shelter, community – as well as products desired to enhance our life satisfactions – the consumer story best reserved for other discussions – to a service economy. The service economy includes less tangible items with which we trade and exchange value. The financial industry has, over the last decade, created an industry of various financial and risk-management instruments for which they have been able to great incredible value. These instruments, through their complexity and positioning in the market place as highly authoritative, leveraged the inherent value of simple commodities many times over. Although sophisticated, they shared the same basic tenant of the market: the perception of value. As long as the underlying fundamental held its value, or grew in value, the highly leveraged products were extremely profitable. However, an unprecedented decline in the value of the underlying fundamental could be, and has been, catastrophic.

Our economy grew substantially because of the aggregate value of these financial products. The GDP included a substantial portion related to the value of hedge or leveraged financial products. When the underlying fundamentals declined in value, great gobs of money simply disappeared from the economy. For those of us that have observed with great concern the entrenchment of the great institutions worldwide – financial, governmental, religious and educational – and wondered how in the world they would ever change, the current crisis is a pivotal lesson.

This wave of consciousness is rippling through the world unbidden. It is simply a manifestation of the evolution of our collective consciousness. For many, the withdrawal of confidence is simply a detached reaction to the news and broader trends. It is, still for many, an unconscious act. Yet, regardless of how aware people are of their actions and the ramifications of them, there is a distinct unwinding going on, away from perceptions of traditional value. Assisted by the highly leveraged state of the world financial system, our simple removal of faith in the underlying fundamentals is having a world-changing effect. It is an experience of how easily these once-believe, highly entrenched institutions can be changed.

For many, it may not be clear what will take the place of the old value propositions. Ultimately, the answer to this question is provided by an understanding of sustainability. That which is consistent and sensitive to the needs of the whole earth, as a living system, will ultimately prevail. Whether or not we, the human race, are able to make this adjustment in the form of new or altered institutions, remains to be seen.



  1. Howdy Micheal,

    That’s the way it looks to this old hippie. 8)

    I’ve been watching the shift for a long time. I’ve always hoped it would come sooner, but it is coming, for sure.

    Good job. I’ve subscribed. 8)


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