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….
[52053]

Related Material:
There Won’t Be Any Changes For The Better
The Prospects Of The Crisis
Humanity Without Leadership

Filed under: Crisis, Economy, World - No Comments →

In the News: “Social media have been a potent force in fueling the riots that began Saturday [August 6, 2001] in London’s boroughs and later spread to other cities such as Birmingham, Liverpool, Leeds and Bristol. Messages have also been sent via regular texts and on Facebook.

“BlackBerry’s messaging system was popular among youths because it’s free, compatible with multimedia and private, compared with Facebook and Twitter. Its encrypted messages give troublemakers an added benefit: Police aren’t able to immediately trace message traffic the way they can with regular cellphones.” (Source: huffingtonpost.com)

“They [Hacktivist collective] would join forces with other hacktivists with the goal of bringing down the social networking giant, and that the action would be staged ‘for the good of privacy’ – and in order to protect freedom of information.” (Source: b92.net)

“The group of hackers known as Anonymous has vowed to ‘destroy’ Facebook on November 5…. The ‘hacktivists,’ infamous for meddling with the American government and for their support for WikiLeaks, have announced that they will focus on bringing down the social networking site because of its privacy policy.

“‘Facebook has been selling information to government agencies and giving clandestine access to information security firms so that they can spy on people from all around the world.’

“‘The riots are under way. It is not a battle over the future of privacy and publicity. It is a battle for choice and informed consent.’” (Source: dailymail.co.uk)

My Comment: All the revolutions, the current ones and from past centuries, will sink into history. All of them happened under the pressure of a rigid, compelling force. However, recently, we have been under the influence of a new force, the integral force of nature, which pushes us towards unity either by suffering or by the realization of the necessity—and this constitutes our only choice.

Thus, no revolution will bring us a positive result. The former British Prime Minister Gordon Brown wrote that everything that was happening happened only to compel us to unite, to equalize ourselves with the global world of nature. But he could not undertake anything because unity can be reached only by attracting this force upon oneself. And Kabbalah, the science of the correction of our egoism and unification above it, describes how to do this.
[50997]

Related Material:
“The Living Water” For All Humanity
A One-Sided Connection With The World
The Net That Caught Every 12th Person In The World

Filed under: Crisis, Internet, News, Unity, World - 1 Comment →

Opinion: (Kim Sung-Hwan, Minister of Foreign Affairs and Trade of the Republic of Korea): “The international community has experience in overcoming economic difficulties such as the global financial crisis of 2008. But no country can cope with such global shocks alone. This requires close cooperation among all members of the international community. Today, it is extremely important to combine efforts.”

My Comment: Cooperation should exist not because no one has strength to overcome the crisis alone, but because the crisis was caused in order for us to discover the need to unite into one whole.
[52037]

Related Material:
World Bank President: We Are Moving Into A “New And More Dangerous Phase” Of The Crisis
Nobel Laureates, Economists Predict The U.S. And Europe Long-Term Crisis
Globalization Is No Longer A Process, But A Condition

Filed under: Crisis, Economy, World - No Comments →

In the News (From Theaustralian.com.au): “The world has moved into a ‘new and more dangerous phase’ of economic uncertainty because of the European sovereign debt crisis, according to World Bank president Robert Zoellick.

“Despite decades of fixing problems at the top of US and international institutions, Mr Zoellick could offer no ready solution to Europe’s problems.

“He urged European leaders to approach their continent’s sovereign debt malaise with a greater sense of urgency, and lamented the European Union structures that made effective economic reform difficult.

“‘It’s not the same as 2008 (when the previous global financial crisis hit),’ he said.

“‘On the positive side, people have paid down debt and there is not the same sudden shock as in 2009. But, on the other hand, most developed countries have used up fiscal space and monetary policy is about as loose as it can be.'”

My Comment: Everything is going according to plan: Nature presses us, still leaving time for reflection. Then the pressure will increase, and there will be no more time to think. Assessing the situation correctly and understanding that we must quickly become global and integral: This the solution to all problems. Will we understand this before it’s too late?
[51940]

Related Material:
The European Debt Crisis Is A Vicious Cycle
The ECB Leadership Panic
Austerity Sets In Motion A Downward Spiral

Filed under: Crisis, Economy, World - No Comments →

In the News (From BBC News): “Some of France’s wealthiest people have called on the government to tackle its deficit by raising taxes – on the rich.

“Sixteen executives, including Europe’s richest woman, the L’Oreal heiress Liliane Bettencourt, offered in an open letter to pay a ‘special contribution’ in a spirit of ‘solidarity.’

“Later the government is due to announce tighter fiscal measures as it seeks to reassure markets and curb the deficit. They are expected to include a special tax on the super-rich.

“Before the announcement, expected on Wednesday evening, a letter appeared on the website of the French magazine Le Nouvel Observateur.

“It was signed by some of France’s most high-profile chief executives, including Christophe de Margerie of oil firm Total, Frederic Oudea of bank Societe Generale, and Air France’s Jean-Cyril Spinetta.

“They said: ‘We, the presidents and leaders of industry, businessmen and women, bankers and wealthy citizens would like the richest people to have to pay a “special contribution”.’

“They said they had benefited from the French system and that: ‘When the public finances deficit and the prospects of a worsening state debt threaten the future of France and Europe and when the government is asking everybody for solidarity, it seems necessary for us to contribute.’

“They warned, however, that the contribution should not be so severe that it would provoke an exodus of the rich or increased tax avoidance.

“The move follows a call by US billionaire investor Warren Buffett for higher taxes on the American ultra-rich.”

My Comment: This is a commendable step. However, it will not change the general course of the crisis because its cause is in the program from Above, the program of Nature (the Creator), which, according to the plan of creation (Nature), should bring the whole of creation, all its parts, to general balance.

Of all creation, it is a human being who stands out due to his egoism and disregard towards other parts of nature. His egoism has fully ripened, and that is why time has arrived to force him to come to equilibrium within himself, in society, and with the environment.

No action weakening man’s conflict with the environment will help other than temporarily. And even this step of altruistic egoism is necessary in order to see its negative result and wish to hear and to be able to understand (from us) the correct solution.
[52530]

Related Material:
Take Care Of The Tycoons, You Just Might Need Them
On The Intricacies Of Taxes
Changing Ourselves Together

Filed under: Crisis, Economy, Society, World - 2 Comments →

Opinion: “If you thought that 2011 was a bad year for the world economy, just wait until you see what happens in 2012. The U.S. and Europe are both dealing with unprecedented debt problems, the financial markets are flailing about wildly, austerity programs are being implemented all over the globe, prices on basics such as food are soaring and a lot of consumers are flat out scared right now.

“Many analysts now fear that a ‘perfect storm’ could be brewing and that we could actually be headed for an economic apocalypse in 2012. Hopefully that will not happen. Hopefully our leaders can keep the global economy from completely falling apart. But right now, things don’t look good. After a period of relative stability, things are starting to become unglued once again. The next major financial panic could literally happen at any time. Sadly, if we do see an economic apocalypse in 2012, it won’t be the wealthy that suffer the most. It will be the poor, the unemployed, the homeless and the hungry that feel the most pain.

“The following are 20 signs that we could be headed for an economic apocalypse in 2012….

[Read more →]

Filed under: Crisis, World - 1 Comment →

Opinion: “If politicians don’t get a handle on it soon, the debt crisis will be a game-changer for the whole Western system. The economies of the United States and Europe will face years of stagnation and decline with regard to emerging nations in Asia and Latin America. In fact, the Euro Zone might break apart.

“These are some of the views Die Welt received in answer to questions it put to 17 winners of the Nobel Prize for economics who are gathered this week for the Nobel Laureate Meetings at Lindau….

“Edmund Phelps, a Colombia University professor who won the prize in 2006 for his theory on growth, says that during the past decades the West has lived above its means and in so doing has already consumed part of its future. That means that the United States, but also Europe now face a long period of stagnation….

“Other laureates also see the debt crisis as responsible for the terrible state of the economy. To Eric Maskin, government debt addiction is ruining the Western system and if politicians don’t wake up and act quickly economic turbulence can be expected to go on for years.

“James Mirrlees, who won his Nobel Prize for political economics research, rates the chances that the Western world will be facing a long period of stagnation as ‘very high.’ Myron Scholes agrees, adding that both the United States and Europe are looking at a fate similar to Japan’s lost decade if the present muddling continues….

“In one respect, the laureates feel that a decline of the West is already sealed: regardless of all and any political decisions that may be taken, the dominance of the dollar as the world’s reserve currency will fade. Its leading role will decline progressively over the coming decades.

“The economists see this as inevitable, like the devaluation of the British pound in the 20th century. They unanimously agree that the Chinese yuan will gain in stature….

“To save the Western system and its values, the laureates suggest better coordination among governments. Stronger institutions are needed to achieve results. And McFadden says that the United Nations cannot fulfill the role—in his view, it doesn’t have the support, nor does it enjoy the respect or clout, to do so.”
[52703]

Related Material:
20 Signs That The World Could Be Headed For An Economic Apocalypse In 2012
US-European Banks Bring World To Brink Of War
The Prospects Of The Crisis

Filed under: News, World - 1 Comment →

In the News (From washingtontimes.com): "…U.S. policy holds that Jerusalem is an entity unto itself. …it insists that the city’s disposition be decided through diplomacy. …

"’…the White House has apparently gone through its website, cleansing any reference to Jerusalem as being in Israel.’”
[51709]

Related Material:
A False Bottomed “Festival”
Edward Topol: Save Israel!
Who’s Sponsoring The Tent Protestors?

Filed under: Israel, News, World - 1 Comment →

In the News (From economicsnewspaper.com): “Against the background of the debt crisis in Europe is a growing distrust among banks. They borrow less money….

“The mistrust of banks taking each other for the assessment European Central Bank, given the debt crisis in Europe. ‘Banks prefer in certain regions of the euro area to its to deposit excess liquidity with the ECB, rather than to other Banks borrow,’ said ECB chief economist Juergen Stark to the ‘Handelsblatt’ in the Monday edition. ‘The signal we take seriously.’

“Alone between last Thursday and Friday, the offshore banks Stark’s statement after 90.5 billion euros at the ECB, rather than the money other banks to borrow. The situation was not yet comparable with the Situation in fall 2008. After the bankruptcy of U.S. investment bank Lehman Brothers was at that time the so-called interbank market, on which the Financial institutions provide liquidity to each other, in a state of shock fallen. The report shows that at times were in the € 200 billion ECB depot. (Abendblatt.de / dpa)”

My Comment: Since increasing mutual dependence is manifested in the world, the alienation of the banks from each other will lead to the collapse of the whole system. However, namely because of this, from the realization of their death, they will understand that there is no other way out but connection in the form of “mutual guarantee.” Through these crises (sufferings), Nature (the Creator) will bring humanity to correction.
[52544]

Related Material:
Europe And The Euro On The Edge
The ECB Leadership Panic
To Save Euro, The Crisis Has To Get Worse

Filed under: Crisis, Economy, World - No Comments →

In the News (From Investors.com): “[Polish] Prime Minister Donald Tusk presented government assessment of the aggravating international financial turbulence in the Sejm on Friday [19 August]. He said his government would continue responsible policies to ensure that public spending is under control, and Poland is perceived as a stable and reliable country.

“It is the task of every responsible government and political party to ‘shield the country against the threat of chaos, nervous reactions and wave of emotions’ because such things harmed local and international economies, Tusk argued. He said that the main problem of countries engulfed by the present crisis was nervous reactions of investors and businessmen as well as waning confidence of citizens in financial institutions, including banks.…

“Poland is well prepared to stave off another wave of international crisis, he repeated. ‘We have currency reserves large enough for the foreseeable future and the Flexible Credit Line (with the IMF) makes it possible to effectively protect the zloty if it becomes necessary,’ Tusk assured.…

“’We are not afraid of (..) a more effective management of the euro zone because we believe that the euro zone is deeply in need of a stronger management,’ Tusk declared.”

My Comment: If the crisis is global, how could it not affect the country in the middle of Europe, how can a country not depend on export and import and on the earnings of Polish workers in other countries? Even leaders still do not understand what the globality of the world entails.
[52326]

Related Material:
Using Bureaucracy To Deal With The Crisis
Globalization Is No Longer A Process, But A Condition
Financial “Monsters” Threaten Democracy

Filed under: Crisis, Economy, World - No Comments →