In the News (from The Wall Street Journal): “It has been nearly five years since the collapse of investment firm Bear Stearns, the first of the dominoes to fall in the 2008 financial crisis. It is now abundantly clear there was too much risk-taking and too much borrowing, particularly by big financial companies. The global economy is still suffering the hangover.

“Too much finance can be dangerous to economic health. But too little finance hurts, too. Promising investments are starved. Consumers can’t borrow for homes or education. Growth is slower. …

“As a share of the world economy, the global stock of debt, both private and public, and equity peaked in 2007, plunged and has now recovered to 2000 levels, according to a McKinsey Global Institute database of 183 countries. …

“The social value of finance isn’t to fuel Wall Street’s casinos or make traders and hedge fund partners rich. It is, rather, to deploy the world’s savings in investments that pay off in the future. …

“Rich-country banks have pulled back. European banks increasingly are reluctant to lend across borders. Jitters about the durability of the euro and the stability of national governments have reversed a decade of financial integration. In emerging markets, the growth in stock and bond markets—which had been a welcome sign of economic maturity—has largely stalled.”

My Comment: Everything goes according to the plan of nature to force us to adopt a new attitude towards ourselves, society, and the world as to a single global dependent system.
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Related Material:
An Alternative Framework For The Global Financial System
Pay Debts By Changing The World
The Financial Industry: Living In A Lie

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