The World Economic Crisis
Many of us are worried about the economic crisis that seems to be affecting much of the Western world. Countries seem to have borrowed more and more from other countries, beyond their ability to pay it back. World leaders do not seem to be responding quickly enough to this crisis.
One criticism that the financial markets are making is that financial markets change by the second. The prices of stocks and shares go up and down minute by minute. The world financial market changes second by second, minute by minute, hour by hour, day by day. But the leaders of the world’s government are not responding so quickly.
Most of us have heard the saying – Never a borrower nor a lender be – and it still seems good advice for individuals and governments.
Who is responsible? Governments get into debt to other governments and countries. They borrow more than they need. Individuals get into debt with companies, banks, mortgages, credit cards and so on. Many will borrow more than they need. It seems as though in the Western world we have difficulties in borrowing at a country and individual level.
Is it time that we ALL rethought our attitudes to money and spending?
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