What Caused the Current Financial Crisis?
News Report (translated from gazeta.ru): The United States government is trying to put the blame for the financial crisis on the rating agencies, who knew about the great risk that was coming but kept giving high reliability ratings to companies that didn’t deserve them.
However, the impending financial crisis could not have been unnoticed by the investment companies, or by officials in the United States and other countries. If the institutions that can see all the risks will continue to keep silent about it in order to avoid sowing panic among the population, then they will harm the population even more. The chief economist of ITinvest, S. Yegishantz, predicts that the lessons will be learned three to five years later, when the world economy will be in ruins and humanity’s objective will be just to survive.
My Comment: What difference does it make “Who’s to blame?” (supposedly!) or who is trying to hush up the financial crisis? The crisis keeps progressing regardless. We have to find its true cause – the quality of egoism inherent in man’s nature, and an effective way to overcome it. It can only be overcome by the force that can correct egoism – the force of the Light that created egoism in the first place. This force is evoked when we study it – by studying Kabbalah. This is what we should do instead of looking for for a scapegoat – “who hushed it up” or “who is trying to hush it up now.”
If the remedy for the disease hasn’t been found, then maybe it’s better to silence it in order to avoid sowing panic and unnecessary depression. This is what the governments are doing for now. Since Kabbalah talks not only about the nature of the crisis, but also about the remedy, it is very important to disseminate Kabbalah’s view on the crisis, its nature and the method of healing it. Let’s work together to help the world learn about the solution to the problem!
Related Material:
Laitman.com Post: The Financial Crisis – an Analysis
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It seems to me that the questions that are most asked are “who is to blame for the financial crisis” and “how soon we will feel its effects”.
As many financial experts pointed out, what makes the present situation different then previous crises is the fact that this one is experienced as a global crisis. In that respect it requires a global effort to overcome it.
I think that rather then trying to play the blame game or trying to buy some time before we feel its effects in our own back yard so to speak, we need to rearrange our relationships taking into account the fact that the world is much more interconnected, and transform our egoistic attitude towards this crisis into a more involved commitment to work as global community.
Of course, these are more or less empty words without an actual method that will allows us to do that. Authentic Kabbalah, pleaded with people to unite since the times of ancient Babylon. And now, after our entire bitter history, Kabbalah is telling all of us the same thing again: “Unite, otherwise you’ll destroy yourselves!” I think the solutions to this crisis that are still advocating separation will not provide a solution, but quite the opposite, deepen the current crisis.
Looking at the different posts of internet forums, there is a frequent question about the involvement of the richer countries, and if it offers help for the future.
Looking at the news at same time, it seems the leading countries are doing the usual things, political speeches, seemingly tried and tested financial maneuvers, like the 3 European countries already gone bankrupt getting multi billion dollar aid package, huge bailout package in the US, actually purchasing banks and financial institutions by the government.
There will be endless meetings and plans.
Should that give us hope, I am not sure.
What is missing from all above, is the understanding of the root causes of this crisis. What is promising, that everybody seems to understand, that it is a global crisis this time, and more and more people also realize, that any solution has to be global and united too.
But what we still have to realize, that it is not a political, or economical crisis, these are just the symptoms of a deeper problem with our basic human desires, and their direction.
At the moment each of us are acting in an isolated selfish mode, only trying to use the others for our own benefit. Unless we learn how to change this behavior to the mode of “love your neighbor as yourself” we are only chasing shadows.
So, yes there is hope for the future, as soon as we realize what the real problem is, there is a solution for that, offered by the study of the science of Kabbalah, which can offer us the practical steps how to change our operation mode.
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We see people scrambling for advice here and ideas there. All trying to understand America’s financial inner-workings in an attempt to solve the crisis. But even those who know the system intimately seem to be at as much of a loss as any of us. Nature, however, is by no means at such a loss. Through this crisis and the many that must and will follow, nature is teaching us that our systems – which are based on getting the most profit we can at the expense of others – is doomed for failure.
We have an opportunity to do something lasting while others are groping in the dark – direct them to the root cause and the remedy.
As a child, my grandfather would always talk about instances that the world would come together when faced with some sort of global crisis. Of course, I rarely took heed to any of his advice. Now, as an adult, and in the midst of one global crisis after another, I understand what he was trying to say to me all those years ago. And even though his stories and advise would seem like wisdom now, he was missing the core cause of those crises….human greed! We see groups of people come together and unite under common banners only when the issue is of common interest. I would think this qualifies. This financial system does not just affect the rich or the middle-class…it affects every individual around the globe. Humanity needs to realize and consider that for every action, there will be a reaction (didn’t we learn this in grade school???). There is an adage that has been passed down from parent to child for ages, that goes something like this, “Even one person can change the course of the future.” While these are very comforting words and generally expressed as a positive connotation, the flip-side of that is truly that “Even one person can change the course of the future.” While this financial crisis is not being blamed on one person per se, the egoistical, greedy, “what’s in it for me” mentality must have started with one person, and now we are seeing the effects of that greed.
Humanity will again try to unite, but will fail in their attempts to solve this crisis until they come to the understanding that we are all connected and that we should only concern ourselves with how to help everyone else instead of ourselves.
As I end this comment, I would like to relay a message from the movie, “Into the Wild”, which is based on a true story of a young man, fed up with Society and the ways of the world, and set off on a journey to reconnect with Nature. In the end, he noted that “Happiness is only possible when shared.”
We have to unite…we cannot face this, and other, crises alone. We can only ensure our own happiness by providing for others.
I think any crisis is accompanied by the blame game. People are scared and don’t quite understand what happened and why.
There are many vies as to the causes of the collapse of the financial markets and top executives are among the first ones to be blamed.
The real reason of the crisis is overlooked, however. It does not occur to us that it might be found (and should be looked for) in the way we relate to each other. In other words, the reason of the crisis is in our ever growing ego, which pushes us to strive to gain things on the expense of other people.
So, if the crisis is to progress until we become aware of our ego’s harmful intentions, we’d better gain such awareness fast.
The real remedy of our current situation is in rejecting egoism and transforming our attitudes into ones of care for one another on national and personal levels.
If Kabbalah offers a method of such transformation, it would be irresponsible of us not to make use of it.
It matters little who is scapegoated or where the blame lies. Man is rapidly coming to the conclusion that the acceptable mix of what he perceives to be good and bad, or tolerable, is no longer the case. The degree of pain is far outweighing that of any physical pleasure.
Time and the rapidity of the various crises is overwhelming and terrifying. Institutions once relied upon are bankrupt shells of iniquity and greed. Our egoism. our unabashed selfishness, has grown to gargantuan proportions. There seems to be no solution.
Now the hopes are with the election of one man. This is not a solution and in short order, this too will become exposed.
We are being forced to confront our egoism by experiencing ever increasing levels of pain and chaos. We come up with limp and ineffective plans to correct and mend the damage, to no avail.
Let’s try looking inward.
We see people scrambling for advice here and ideas there. All trying to understand America’s financial inner-workings in an attempt to solve the crisis. But even those who know the system intimately seem to be at as much of a loss as any of us. Nature, however, is by no means at such a loss. Through this crisis and the many that must and will follow, nature is teaching us that our systems – which are based on getting the most profit we can at the expense of others – is doomed for failure.
We have an opportunity to do something lasting while others are
groping in the dark – direct them to the root cause and the remedy.
I have seen many discussions about the cause of the financial crisis and who is to blame. Some blame banks for their bad lending practices, some the politicians for encouraging the banks. Others feel their ethnic minority shoulders an unfair share of the blame. No one mentions how much they benefited when the bubble was growing or indicates our joint responsibility. For me our greed, self interest and egoistic attitudes are the cause of the crisis, but how do we escape from this?
There is a lot of speculation about what actions the banks and politicians can take to resolve the crisis and a lot of effort is put into trying to treat the symptoms. This is the only site I have seen that that offers a cure.
what are the steps/measures that the united States government do in order to stop financial crisis?