2008-10-12
The current financial crisis: healthy?
The Washington Independent has published the article “The Great Unwind”. The article's author argues that the current crisis is necessary to reestablish a balance in the financial systems. As a consequence, most fixes that are currently being debated won't help at all---similar to making an illness worse by treating the symptoms. The crux of the matter is that as a society, letting the crisis run its course might be the best thing to do, but for individuals, we must find a way to prevent poverty.
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Despite all the scary news and stats about layoffs, there are still millions of jobs posted on employment sites...
www.linkedin.com (networking)
www.indeed.com (aggregated listings)
www.realmatch.com (matches you to jobs)
Good luck to those looking for work.
In my opinion, any financial system based on interests is doomed to fail periodically. Trying to fix the financial crisis may work for the moment, but the crisis might return even worse.
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