Jim Letourneau's Blog

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Is the Financial Crisis Good or Bad?

Jim Kingsdale's Energy Investor uses my favorite Taoist parable as a lens to view the current financial crisis. As Jim points out it is very hard to see positives in wealth destruction.

Most people have very strong feelings that the gaining of wealth is a good thing and the loss of it is bad.  No Chinese parable is likely to convince us that it could be bad luck to gain a lot of wealth or good luck to lose it.

For example, fires are a critical component of forest ecology. They help maintain health and diversity. Our financial firestorm will create similar benefits. Just remember that it takes time... and not all of the sprouting trees will grow to heaven.