Living in fear?

It got me thinking deeply recently as more bad news is breaking out in every part of the world, financial news that is.

We live in a world so closely knitted together, in a balance so delicate, only the most Devine could create. But, what have become of our world today?

It all started with the subprime mortgage crisis in the US, being an ongoing financial crisis characterized by contracted liquidity in global credit markets and banking systems. The impact was further amplified by a downturn in the housing market in the US, risky practices in lending and borrowing, and excessive individual and corporate debt levels causing multiple adverse effects on the world economy.

Many are now living in fear, not knowing what to expect tomorrow. Why should this be the way to live? To me, there is a fundamental flaw in our moral education worldwide. We have become so blinded by material wealth that we are prepared to do anything to attain the material satisfaction. Nothing but greed has brought us down! I am very much disturbed to see many innocent souls suffer, directly or indirectly as a result of the wrong doing of others. It is a zero sum game, some have gained much at the expense of others!

The banks lent with full knowledge that many of the borrowers were not credit worthy. Borrowers were enticed to borrow more at the back of rising housing prices then. They were incentivitised to assume difficult mortgages in the belief that they would be able to quickly refinance it at more favourable terms or flip it for a quick profit. However, as soon as interest rates began to rise and housing prices started to drop moderately in 2006–2007 in many parts of the U.S., refinancing became more difficult and the vicious cycle began to take its place globally.....

We are just beginning to feel the pain as it gradually filters down to this part of the world. I just hope that we as parents could instil good moral values in our kids so that they would not make the same mistakes during their time to save them from all the man made disasterous turmoil! I personally believe that moral education should begin at home, and at a young age when the kids are still very much influenced by the parents rather than their peers or the media. To me, sending Nicole to Sunday School is one avenue for her to learn good moral values apart from including her in my daily prayer with me -to give thanks for all that she has; as well as reading some Chinese moral classics to her which she is able to relate to.