A Gradual Realization Of A Dead End

Dr. Michael LaitmanOpinion (Nouriel Roubini, cofounder and chairman of Roubini Global Economics): “Speaking at the World Economic Forum in Davos, Davide Serra, founder of leading hedge fund Algebris, and Nouriel Roubini, the head of Roubini Economics known as Dr Doom for predicting the financial crisis, set out the case against those who think quantitative easing (QE) and low rates are benign policy tools.

“’When governments borrow, they are taking money from our children. QE is the same – we are lowering returns for future generations. QE creates an inter-generational dilemma,’ Mr Serra said.

“Mr Roubini warned that central bankers need to think about turning off the cheap money tap or risk creating another, possibly even worse, bubble.”

Opinion (Steen Jakobsen, Chief Economist & CIO, Saxo Bank): “In Europe, two core countries, the Netherlands and Germany, are now recession bound. The crisis has finally arrived at their doorstep. Meanwhile, European Central Bank monetary transmission remains obstructed by hodgepodge policies. … You can run from your debt burden but you can’t hide, and that will be the reality that Europe and France face in 2013. …

“So how can it be that stockmarkets are hitting multi-year highs while employment is hitting historic lows? In a real bull market, everyone partakes in the upside—but this market and the economy are driven by those who have access to central bank funding. In short, they are detached from reality. Like a David Copperfield stage act, it is a grand illusion. We have capitalism without capital or free markets.”

My Comment: At least many begin to understand that something (although not what) needs to be changed, but politicians do not hear. The realization that some understand the need for change, but others not, is already movement. But the real awareness must be in recognizing the need for full integration of all of humanity as a condition (the ultimate goal) of our development given by nature (evolution).

This can be achieved only by using the property of unity, the unifying force, which is revealed in the desire to unite according to the method of Kabbalah. Nature is integral on its three levels: still, vegetative, and animate. The human being, evolving from the animate level, must himself recognize the need to “fit” in the general picture of nature as its highest integral part.

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The Dual Shock Of October 2012

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