Prayer to my God. Why the economy failed, oh Lord
Dear God. The reason why the economy is broken, is due to the lack of in-house risk management. It is best that we start off with some advice: Do your own in-house risk management for any business you run. If you do this you may avoid the trends of the harsh economy. In this prayer we will highlight the solution required to rescue future economies.
Honestly the current banking system should be allowed to fail. We need the system to be sacrificed in order to save the future. When we look at the market we must ask ourselves, oh Lord. Why have things happened in the order in which they happened. And why does the same cause have different effects? Mathematically, as you have taught me, the economy is a many to many system!
A many to many system requires rigorous analysis in order to formulate relationships between control variables, while ignoring a random disturbance. Guess what Lord – the banks have your money – hence they become drunk on the prospect of making more money, but neglect rigorous analysis. More need not be said. Banks are outsourcing their analysis. We all know that large institutions outsource according to the reputation criteria. That is a bad idea. To illustrate: Imagine having the choice to hire the great scientist Thomas Edison or the lesser known Nicholas Tesla to design your long range electrical power transmission infrastructure. Would you choose Edison with his dangerous power wasting DC currents? No! You must choose the lesser known but more efficient Tesla, with his safer and energy efficient power transmission system which we use today. However the implementation of Tesla's system was delayed due to Edison's reputation in addition to Edison's corruption having the financial power to trick the American government to use his system rather than Tesla's. Hallelujah, good thing common sense prevailed. Hence, we can say a smart government will let common sense prevail.
A smart government will sit down and think about the solutions presented to it. Does it keep the old useless banking rules promoted by the popular few who stand to loose? Or does it listen to the lesser known majority commentators? There are banking institutions who have stayed away from the economic troubles we are facing. We have to approach such commentators and discuss a revolutionsed monetary system. Amen.
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