The love of money is the root of all evil. Money as such does not actually exist. True riches do not consist of money or material possessions. Comfortable homes are nice and full bellies but if our needs are met, being content is great riches.
I know a source of your answerWhat's your Opinion about the World Financial Crisis?
I say the worse it gets the better it is for all of us. The financial crisis will cut out the BS from the system. Then when it starts growing again, we will focus on things that produce value, not just things that move numbers around.
i think it is very terrible for the world.due to this a lot of people become jobless.What's your Opinion about the World Financial Crisis?
I think this has arised due to the uncontrolled issueing of credit cards to people in USA, and unconditional credit dealings, including home mortgages where people were granted to trade on credit basis without a future payment gurantee scheme. The major problem is each person in USA were allowed to hold upto 10-15 crdit cards. This developed credit transactions more. And when banks issued credit cards out of control this led to financial problems within yhe banking sector cause issued dealt credit arose problems. Banks didnt have enough liquidity to repay peoples drawings because transactions wrer done in credit basis. This led to decrese peoples trust in banks. Poeple suddenly asked for their deposits from all banks. when banks coudnt pay then started this prevailing financial crisis! following a great recession, causing many banks and institutions to fail in the long run....
I think there are enormous power shifts in the world and the big investors don't trust any of them right now.
I think we've (the world) forgot basic sound economic practices both at home and nationally -- spending and gambling (investing) waaaay beyond our means. The world became one enormous futures market and we've had a cash settlement
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