The Financial Crisis – an Analysis
Questions I received on the global financial crisis:
Question: Everyone is saying that the financial crisis was caused by the United States, but you say that it’s systematic and is happening because we are in a system of global interconnection. Who’s right?
My Answer: Both opinions are correct, because America – the most developed country in the world – was first to discover this financial crisis, which is global and not just local to the U.S. If it hasn’t reached some countries yet – such as Israel, for example – then it will reach them later on.
Hence, people shouldn’t scold America. In fact, Europe, China, Japan, the Emirates, and even Russia are all prospering thanks to the American economy, because America buys everything from them.
But now it will stop buying, and everyone will understand how good things used to be! You will be able to answer many questions yourself if you accept the fact that the financial crisis and everything else taking place is actually happening in one, single organism.
Question: Why did the financial crisis start with the banks?
My Answer: It’s because the banks are the foundation of the entire American system; they are an example of a free market. But now the government is buying them. Freedom of the market will become limited like it is in Europe.
However, precisely money or wealth is the equivalent of corporeal fulfillment. It “connects” people, helping us faster realize the common basis of the crisis – people’s egoistic attitudes, as well as the fact that it’s necessary to transform these attitudes, for the sake of survival, into ones of care for one another.
Question: But won’t the care for others be selfish and egoistic, just like today employers “care” about the health of their employees?
My Answer: The system of absolute interconnection between everyone in the world, both people and businesses, is being revealed so fast that soon each one of us will literally feel the vibrations of our attitudes to one another – first the national ones, and then the personal ones as well. This analysis of how our luck and safety depends on our attitudes (inner, not outer ones – what we feel in our hearts), will force us to search for the means to correct hatred and transform it to love.
Question: Who has an easier time living through this time of financial crisis?
My Answer: Those who are least connected with the rest of the world. It works just like an organism: when a leg, stomach, or arm are hurt, the pain is felt in the head. Hence, countries will try to move away from globalization. However, this won’t help them, because then they will stop developing. Without full communication and exchange, they will cease developing and regress to feudalism! Everyone will instinctively try to return to the past, but by doing so they will only slow down the process and receive even greater blows of fate. It’s like trying to sweep an illness under the rug by treating it incorrectly or taking sedatives instead of medication. After all, human society is a live organism!
Question: What kind of currency will remain?
My Answer: The post-crisis world will be radically new. Nevertheless, the United States has accumulated such great scientific and technological potential, and such an exceptional industrial base, that it will remain the world leader – the largest economy in the world. Even though it will fall more than any other country, when it comes to the numbers, people will still have enough to live (compared to others).
Everything will crash, with the exception of the American high-tech industry. The United States will begin real production; it will return to it from abroad, from China. This will cause foreign countries and China to “fall.”
Question: Why is everyone so afraid of the financial crisis? I personally don’t feel afraid.
My Answer: All previous financial crises were different – understandable and not general. However, this one is global; it is happening all over the world and it is unlike any previous financial crisis. There are no known remedies to eliminate it. People are trying to do the same thing they did in previous financial crises – to help the banks, but nothing will help. The situation will force them to reveal the true cause of the financial crisis: that the egoistic attitudes of the parts of a closed system bring about the system’s destruction.
Regardless of how our attempts to explain the true cause of the financial crisis are received, we should not despair and continue fulfilling our duty. We can only accelerate the world’s understanding of the cause of the financial crisis and the method of correction. It takes patience, but the suffering, attempts, and failures will teach people, forcing them to heed what we are saying.
Here’s a concise explanation of the crisis, including its causes and correction:
Part 2 of the book From Chaos to Harmony – Israel’s Role
Brochure: “Lecture in Arosa – The Crisis and Its Solution”
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It is a new way to look at the unfolding crisis, and I appreciate the common-sense attitude of the article. Howevr, I take issue with the answer to the fourth question:
“Hence, countries will try to move away from globalization. However, this won’t help them, because then they will stop developing. Without full communication and exchange, they will cease developing and regress to feudalism!”
This country had development, communication and exchange before globalization. Globalization was a bad idea, America stopped developing. We stopped exchanging and took what the foreign recipients of our commmerce gave us, and on their terms. We didn’t complain too loudly about industrial chemicals in baby food out of fear that they would stop selling us baby food, and refuse our dollars. That’s not communication, it’s supplication.
americian high tech industry relys mainly with those of chaina and japan so how can you say that everything crashes except americian high tech industry.
what does all this mean for the younger generations financial future?
To put a spiritual “spin” on the current global financial crisis is on the one hand refreshing and optimistic while on the other hand quite a stretch for most people. For those of us who view the material world as a reflection of the spiritual world, this is no stretch at all.
Both the spiritual world and the material world have separate gods; the spiritual world’s G-d is the Ein Sof responsible for all creation, yet found more in time than space. This G-d, for the most part, is inconceivable and concealed. The material world’s equivalent exists and is perceived clearly in space and is responsible, for the most part, for our moment to moment existence; money.
This idolatry of money has been a problem in need of correction for longer than any of us have been alive. Even amongst the Jewish people, for many if not most, it is common today to accept the pursuit of money over the sanctification of the Sabbath on the seventh day; as if six out of seven were not enough, we choose space over time; the profane over the holy.
I realize that for the average person it is no comfort to view the current financial crisis as a welcome correction to an age-old problem, but for those of us who study Kabbalah and have followed the teachings of Rabbi Laitman, was this not expected? At some point in our study did we not ask ourselves how this transformation from an ego based material world into one that is guided by altruism will actually manifest?
America’s golden calf, in the form of the Merrill Lynch bull, has fallen; and as painful as this event continues to be there will be a tomorrow. And like the tomorrows that followed the events of 9/11 and Katrina, we will be tattered and weary but with new insights. I long for a world that gains insight through enlightenment, but our world continues to need the angst of suffering to move forward.
It sounds like socialism or communism. We work for others and then we receive in return. It was tried in Russia and now China, and unfortunately, it doesn’t work. There are ALWAYS leaders who set themselves apart and altruism goes out the window. Theory sound great but on a mass global practice, it cannot exist. Take only what it needs for sustance goes back to the cave men days. We may be only one body and therefore all connected, but the parts of this body, (human soul) is free and choice is always for the self and survival. Humanity has learned over the centuries that to depend on others for altruistic help is impossible and will lead to complete destruction in time. Do you force someone to give their bread to you if you are more hungry, how do you determine what more hungry is?
How easy it is for Laitman to speak to an audience that considers itself enlightened. He should go to an audience that is suffering and needs enlightment and then he will be confronted with front line suffering and need. I feel this entire discussion given by Laitman to an audience that gives undivided attention, is false. Social values cannot just “change” if they don’t know what to change to. You are talking about coersion (communism, dictatorship, facism,) then what is he really talking about. I for one would never want to be forced to give. Obama talks, CHANGE, but in reality to actually do that you need mass suffering. I don’t agree that this will ever happen voluntarily. Laitman is sounding like a soft spoken dictator. Love toward everyone? How about a pedaphile or murderer, a torturer? should we LOVE them. Should we open our homes to them? Come on, where can this begin. At home? with loving parents and children? The wolves will devour them when they leave their home. I have read a few of Laitmans books and he is very learned. I love to read the Zohar and find it a great source of light and hope. But this conversation is disheartening because it all seems impossible.
The Top Heavy Corporate Greed is a major contributing factor for the financial problem. How can any business or country operate effeciently when capitalistic greed and ego is the primary driving force? What will happen to these people when these individuals can no longer survive without their Million Dollar per year salaries and yet try to continue on with that life style?
The ugly part of this financial crisis has not even begun as of yet.
what are the preparations made by the affected countries of the financial crisis?