A question I received: Over the past two weeks the NASDAQ has risen by 20%, which seems to suggest that the crisis is over. What do you think?
My Answer: The stock market is a game. It can jump up without any realistic basis or cause. Did the pyramid schemers stop building up their schemes? While everyone’s thinking that they are going bankrupt, they’re actually devouring the billions of dollars that the governments are giving them, and they continue building up their pyramids, only in a more subtle way.
For the time being, the ego celebrates victory. But there’s been no real cure, no correction of any kind. The ego continues on like before, cooking up the next disaster. So, if you think that everything is fixed and back to normal, you’re in the worst possible state. It’s like failing to see an enemy that’s surrounding you, getting ready to attack.
You can be sure that in the end, the ego will emerge on top and the situation will be even worse than before. But for now, it seems like everything is fine. In the end, everyone made a profit and no one lost anything.
The fact is, there is no regulator for people’s growing egoism. Economics is not a science – it merely follows man’s egoism. Thus, the whole economy is based on me giving you the least I can while getting the most I can, and if possible, I’ll charge you without paying you. So, the economy is more like legalized thievery. Just think: what is the agreement that exists between us? You and I exchange goods only because I can’t take them from you by force. I have to give you something in return because I have no choice.
The economy is a reflection of our egoism, and our egoism is always growing. It is unwilling to unite with anyone, and it spurns us to exploit everyone. So what regulator can there possibly be?
The way to create a regulator for egoism, for human relationships is to observe two rules: “Don’t do unto others what you don’t want done unto you,” followed by, “love your neighbor as yourself.” But this is certainly not the direction economists are currently taking when seeking a regulator, which is why they won’t find it. Meanwhile, the next disaster will be far more qualitative. It won’t necessarily come from the financial system, the stock market or the banks; it may come by way of epidemics, climate anomalies and so on.
The fact that we’re experiencing a respite, even though we haven’t corrected anything, indicates that the next disaster is approaching. This isn’t a break or the end of the problem, but it testifies to the speed of the process, which means that the second wave of the crisis is not far away.
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