Marjorie Orr on the Financial Meltdown

As readers of this blog know, I’m a great admirer of British astrologer Marjorie Orr. She has done an excellent analysis of what’s behind the current financial meltdown.

While the mainstream press would have us believe that major financial institutions are collapsing because of the housing downturn, the reality is more complex than that.

Massive fees have been earned by folks whom I’ll call “financial engineers” during the past few years by peddling exotic derivatives such as credit default swaps. Evidently Wall Street didn’t really understand the risk involved in these unregulated instruments. Marjorie gets it.

Because of the way her Web site is set up, with scrolling comments, I asked Marjorie for permission to quote her comments on “snake oil salesmen” here. The piece was written before today’s 449.36 drop in the Dow Jones Industrial Average, to 10,609.66. You can read more at her Web site.

Here’s Marjorie:

It’s very easy to get hysterical about a financial meltdown with the oversensationalized media getting all hyped up, though yesterday in fact only took a few percentages off the stock market rather than the freefall which followed the 1929 crash. And stock markets anyway are not the “real” economy though there will be negative consequences filtering through into ordinary peoples’ lives.

Astrologically speaking the 1929 crash and depression following was due partly to Neptune moving out of overblown Leo (the Roaring Twenties) into earthy Virgo undermining employment prospects; with Saturn in late Sagittarius moving towards bleaker times in Capricorn heading for a really tough opposition to Pluto in Cancer bringing deprivation and squaring Uranus in Aries in the early 1930s.
[NOTE FROM AM: We’re heading for this same T-square in 2010.]

Pluto in Cancer altered family life and changed the status of women, pulling them away from their primary role as homemakers with a tremendous upheaval from Uranus square Pluto. It was largely caused, as is this crisis, by irresponsible lending to Americans hoping to make their fortune on the stock market. The banks lent more than they possessed and the bubble burst with catastrophic results for the next decade.

What has been intriguing me is to work out from the astrology what has been going on in the financial sector this time round. Part of it is irresponsible lending. But the real problem which could lead to banks going bust and people losing their savings – is the ramping up of debt in schemes of mind-boggling complexity which leveraged the original debt into stratospheric proportions, paying the money men percentages all the way up the line.

And it also interlinked all the banks since they laid debt off to each other, so if one goes down the domino effect kicks in. Warren Buffett in 2002 called these schemes “financial weapons of mass destruction – time bombs, both for the parties that deal in them and the economic system.”

There’s a feel here of megalomania, delusional disregard for reality – like the myth of Icarus who flew too high and burnt his artificial wings and discovered the hard way that he was not a god but an earth-bound human. That was there in the 1929 crash – gambling borrowed money to make profits on the markets without having to work for it – which does have a fire sign or afflicted Jupiterian feel about it.

But this time round there’s an additional sense of a hellish enmeshing, a deadly spider’s web of delusions, deviousness, and trickery which adds a Plutonic layer – or worse Pluto pumping its power-driven energy to vastly inflate the bubble. It’s almost Neptune/Pluto – too high and too low at the same time, except it isn’t around at the moment.

These high risk financial debt-offsetting schemes have been around forever, but only grew to prominence with deregulation through the 70s, 80s, and 90s. The 70s/80s had Neptune and then Uranus in fiery innovative Sagittarius (Sagittarius ruled by Jupiter doesn’t like limits). The 80s/early 90s had greed and power driven Pluto in Scorpio; plus the Saturn/Uranus/Neptune triple conjunction in business-oriented Capricorn which brought the first correction to the markets in the crash of 1987.

Whether this year’s end-of-the-line meltdown could be attributed in part to Pluto just leaving Sagittarius (1995 to 2008) isn’t clear. It’s certainly Pluto in a fire sign though its meaning has usually been confined to fanatical religious beliefs. Arguably Pluto just pushed the boat out too far in fiery, risk-taking Sagittarius – snake oil salesmen running amok.

Perhaps Pluto’s early foray into Capricorn (February to June 08) was a trigger to start clearing out the mess (purging being a Pluto effect) that the Triple Conjunction in Capricorn in late 80s/early 90s began but couldn’t quite get a grip on.

Pluto in its negative aspect is highly enmeshed, very secretive, controlling, stops change but eventually gets so constipated it silts up with toxins and self destructs. (The financial world ever flamboyant in its language is talking now of ”toxic debts” running into trillions of dollars/pounds.) In its positive aspect Pluto clears away garbage, deconstructs outdated attitudes and systems, reduces old power structures to ashes in preparation for the phoenix to arise. In the process it necessarily has to disentangle or destroy the spider’s web of the old controls.

What is scary about the present financial crisis is how interlinked it all is – a few poor folk down Missouri way were lent too much money to buy houses and suddenly every financial market in the world is in a state of nervous collapse. Capitalism will have a very different face come the middle of the next decade.

Isn’t that an amazing analysis? Thanks, Marjorie, for letting me reprint it here at Astrology Mundo.

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3 comments on “Marjorie Orr on the Financial Meltdown

  1. Pingback: Conspirama

  2. I don’t know how everything is going to shake out but as I reread this blog and some other blogs which have commented on Pluto, especially in Capricorn, I had a few optimistic thoughts.

    Capricorn is the sign ushered in with the winter solstice. While plants don’t usually grow during that time, it doesn’t mean that nothing is happening. I thought of winter wheat which is planted from September to December. It sprouts before the winter freeze sets in but needs a few weeks of cold so it can later flower and then yield its grain in July. (http://en.wikipedia.org/wiki/Winter_wheat)

    Hopefully, what we are seeing with Saturn in Virgo (September) and Pluto entering Capricorn (winter) are seeds being planted so they can yield a future crop (be transformed). Ceres in Leo is currently burning up the crop but should enter Virgo on November 4, 2008 where she will stay until the end of August 2009.

    Maybe the point of all this financial uproar is to help us get back to the basics – no more derivatives on Wall Street, just straightforward business; no more focusing on our excessive wants (iPods, Playstations, Hummers) on Main Street, but taking care of our needs (food, clothes, shelter). Maybe that’s what the grand earth trine last week with Saturn (hard times, restriction), Jupiter (hope remains) and Vesta (focus, security) was trying to tell us. And soon, Pluto in Capricorn to help us with the transformation.

  3. Marjorie’s views and her intelligent observation that the present crisis is so far not comparable to the one that started in 1929, with all the astrological elements which she includes, is making for interesting reading.

    I lived through the October 1987 crash, which was much more serious in percentage terms than this one practically unscathed, as did my clients at that time. I was working then in Geneva, Switzerland, and we saw some big Swiss banks on the wrong side of the betting table. And they were the same as those involved yet again: UBS and Credit Suisse.

    It all goes in cycles that don’t repeat exactly. The best illustration I can think of is an ascending and augmenting spiral, always bigger circles.

    Allan Greenspan spelled it out: “irrational expectations.” They will periodically return. It’s part of the game. Without speculative frenzy, the game would possibly not even exist. No matter if it’s Dutch tulips, stocks, real estate, derivatives, commodities. And there is always the “morning after.”

    Who founders will resurface again, with other people, under other circumstances. Nobody in Roman times could bath in the river Tiber without plunging into “new waters.” But Rome was still the same (or almost) and the river Tiber is still there today!

    I am not by nature a long-term investor. I mentioned on this blog the other day the probability of the market turning up again shortly as Mars made its encounter with Jupiter (by square that is). So far, that “insight” appears to be correct.

    Now about the long-term view: Marjorie posits that “Capricornian forces” (by nature more sober and restrictive than Sagittarian ones) probably will “help us get back to basics.”

    I personally doubt that the financial world (and much else) will move back to the bottom of the augmenting spiral which I mentioned before. We entered the Aquarian Age some time ago. Many new “natural” rules will come into existence. Actually, these always existed, only they were on the back burner. Now it’s the time for them to step forward.

    Not wishing to sound enigmatic, I will give a concrete indication in this sense: An old friend of mine, a director of a Swiss bank, confided to me very recently:

    “Now that many of our clients have discovered how badly we manage their funds, the whole private banking business is in doubt.” And my friend adds: “Maybe we should do what Microsoft is doing, hire some famous actor to polish our tarnished image.” Only, irony of sorts, that actor of Microsoft appears already on his way out.

    Hollywood and Silicon Valley move slightly faster than bankers.

    If the U.S. wasn’t facing a Presidential election, Wall Street’s bursting bubble would not have the impact that it’s having. But sometimes things accumulate. It’s all pointing towards change, as Obama promises and others hope. The tricky part is knowing what the changes will ultimately be. If my view of the ascending spiral has any truth to itself, all concerned are advised to “fasten their seat-belts” and avoid being ejected at the next spin or so.

    P.S. And squirreling some funds away in Switzerland may not be the best solution anymore. Free advice…

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