In the News (from The Investment Blog): The debt to income ratio [in the US] went from 70% in the 1990s to 140% now. Retrenchment of the U.S. consumer will result in a painful rebalancing in the economy and a cumulative contraction of personal consumption close to US$600bn.
My Comment: These numbers are correct if we don’t change the world with our attitude to it and to all our debts. We need to perform a universal revision, and jointly make a decision about how to live, according to the laws of Nature that govern us. Then we will understand how we can easily come out of the recession together.
In the News: (from BBC News): Japan’s parliament has passed legislation to give a cash hand-out to every resident in attempt to boost the recession-hit economy. Most people will get at least 12,000 yen ($121; £86) under the $20bn plan.
My Comment: Actually, people will just put this money away for harder times.
Laitman.com Post: Gordon Brown Outlines Plan to Shape the First Global Society
Laitman.com Post: The Failure of Obama’s Stimulus Plan Is Another Reminder That We Are All In One Boat
Laitman.com Post: As a Result of the Crisis, Only the Necessities Will Remain