Opinion: (David Dapice, Chief Economist, John F. Kennedy School of Government, Harvard University, Associate Professor of Economics, Tuffs University): “When European leaders interrupt their August vacations, they’ll return to their offices and learn just how bereft they are of ideas in dealing with the economic crisis threatening the world. From Washington to Brussels to Tokyo, leaders have been squabbling and fumbling, seemingly oblivious of the global threat. The farce in the Capitol Hill leading to the downgrading of U.S. debt by Standard & Poor’s, the feckless response of the European Union to the spiraling sovereign debt crisis and the trade surplus prompting Japan’s devaluation of the yen all point to a dangerous bankruptcy in leadership.
“In the U.S., bickering politicians drove the country to the brink of default, and their last-minute compromise failed in stopping the downgrading of U.S. debt.
“A grudging and feckless response of European leaders to the crisis thus far has reduced rather than restored confidence.
“In Japan, the debt to GDP ratio is an astonishing 200 percent, meaning its debt amounts to two years’ worth of wealth created by the country.
“China managed to boost lending for questionable investments…. Indonesia, Russia and Brazil rely on commodity exports to an uncomfortable degree, and many of these prices have begun to slide—oil has dropped 15 percent from recent highs.
“Perhaps the most disconcerting element in this is that few leaders or even intellectuals have ideas for solutions likely to be considered.
“Despite frequent talk of an interconnected world, the myopic leadership in the world’s leading countries seems oblivious to the fact that all are in one boat.”
My Comment: Leaders can only pretend that they are in control because it’s no longer possible to govern using the old methods. The reason is that the upper world is approaching us, as if descending upon us, but its qualities of complete interconnection, bestowal and love are opposite to those of our world. This is why we feel the crisis—we sense our oppositeness to the upper world.
The situation won’t improve until we realize that we have to change in similarity to the upper world, its governance, to become similar to it in full interconnection, bestowal and love. You say it’s unfeasible? By inflicting suffering upon us, Nature will compel us to it. Or, we will want to change ourselves, and then we will need the wisdom of Kabbalah. At some point in the future, we will meet….