The Solution Is In The Crisis Itself

The solution to the current global economic and financial crisis is in the crisis itself. Look at the causes of the global credit crisis deep enough and you'll find the right solutions staring at you in the face.

Notwithstanding the fact that the credit crisis came from major developed nations- the U.S. and Europe, the present health of Asian economies are still very much dependent on the vitality of Western economies.

What are people in Asia most fearful about? The loss of jobs? The collapse in stock markets and assets prices? And fear of the contraction in overall wealth at all levels of society, domestic and global.

These fears may be legitimate but if you look closer, you can see that the crisis was created by a house of cards where each player in the game was linked by a desire to be rich and enjoy life based on debt and asset price inflation. The game has ended with a credit bust and the fallout is being felt throughout the world.

So if greed was the cause, then we should examine ourselves and see if we have greed dictating our lives. If lack of prudence was the cause, then we should be careful to be prudent in our finances and economic goals.