What fascinates and frustrates me about the current global financial crisis is how the "market" is spoken about as if it is some kind of ailing person with a psyche and illness, yet we don't seem to really be able to diagnose what the problem is. The market as some kind of brooding malevolent-benevolent brooding force over us
The sub-prime casino approach doesn't seem to have provided the one thing that the markets seem to need even more than cash and that's the immaterial and intangible "confidence" or "trust"- these are values not normally quoted in numbers on the stock exchange which often have rather theological overtones.
So perhaps the world financial market needs a bit of psychotherapy to rebuild its confidence. It must be terribly difficult holding turbo-capitalism together after all.
I think I prefer to place my confidence in a dependable but fragile and vulnerable God rather than in the vagaries of a psychotic financial market.
Friday, 19 September 2008
Capitalism in crisis?
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