Today commemorates the day that these United States adopted and declared its independence from the United Kingdom, July 4th, 1776. It would be interesting to gauge the reaction of our Founding Fathers if they could see the evolution of their Declaration. Who are we? What have we become as a Nation? How many people have actually read the Declaration in its entirety? How many have reflected on the meaning of those words? Originally intended to declare our independence, this document is also a statement on human rights. The following words alone speak volumes,
"We hold these truths to be self evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of happiness."
These words did not ring truth when the Declaration was signed. The irony was that there was contradiction in those words, "all men are created equal." Hypocrisy? Perhaps. Jefferson himself owned slaves at a that time, potentially echoing the old expression, "do as I say, not as I do." But isn't that a coat of arms that all politicians love to wear? As in the days of the American Revolution leading to the signing of the Declaration, today, we have our own kings who believe that they have inalienable rights. There should be no checks nor balances. No restrictions in doing whatever they desire. Wrapping themselves in their American Flag lapel pins, declaring their patriotism, love of God, family and money. Yes fellow bloggers, there are many kings in our industry who believe in their own divine right. There lies the challenge in a world that is constantly changing as to what are your natural or legal rights. As the world morphs from nation states to market states, a world based purely on commerce, the founding fathers would be fascinated that we are not modifying nor amending our laws to create more checks and balances than what they intended.
In the past we depended on laws and regulation, today there is no assurance of equality but a maximization of wealth by those in power. Globalization is screaming for a new global constitution, a global declaration to find balance and order in a chaotic world. As market states open new opportunities, it makes everyone vulnerable. Jobs are outsourced, manufacturing is outsourced, all for the love of the Almighty Dollar and shareholder value. The financial meltdown of 2008 has been validated by the tremors that still exist on a global level, especially in the fragile European markets. It is for this reason alone that government must adapt and create a new Declaration. As the financial sector downsizes its workforce, moving services to India, Malaysia, or the deep south, as average Americans lose confidence in the markets every time something new comes up, America loses. In many respects we have lost our integrity. We have lost our moral character, we no longer possess a code of conduct.
So today, as you break open a cold beer, and BBQ whatever it is that you desire, and go to your local fireworks display, think of how lucky you are that we do have freedom in an imperfect world. TSB wishes everyone a Happy Fourth of July!