by Ted Rudow III, MA ( Tedr77 [at] aol.com ) Saturday Sep 24th, 2011
The International Monetary Fund says the global financial system is more vulnerable than at any point since the 2008 financial crisis. Risks to banks and financial markets have increased in recent months, the global lending organization said in a report Wednesday.
The European debt crisis is affecting its banking system to the point where banks may pull back on lending to conserve cash, which threatens to worsen growth in the region. Meanwhile, there are growing doubts that the U.S. lawmakers can forge the political consensus needed to reduce its growing budget deficits. Rising deficits were a key reason Standard & Poor’s downgraded long-term U.S. debt last month. Money, money--filthy lucre. If money is your master and your god, that which you seek for the most, then lack truth. Those who neglect for mammon do err, and pierce themselves through with many sorrows. Money is not evil in itself. It is a vehicle, a tool.But the love of money is the root of all evil. It is the foundation of the systems of this world, and because of it, many good men are corrupted and many evil men become even more evil. Ted Rudow III, MA