Saturday, October 11, 2008

The financial recession ... en passant


Ok so we're being repeatedly reminded by the press that we are in a financial recession. There is probably a bunch of truth in that but I don't understand why the press is so keen to keep spreading the news of the "catastrophe" that is about to happen.

At the end of the day this is their money too!

Which news editor doesn't know that the more one can bring panic to the people the more they will try to take their money out of the banks and the more they do that the worse off the whole situation will go? It is one of the first things we all learned about banks.

Yet they are all too happy to repeat it in the news EVERY DAY and SEVERAL TIMES a day! At the end of the day it is their own savings they are messing up.

If I were an editor I would be slightly worried about my own money - and maybe I would try to find some good news about the financial situation so I could cool the whole thing down a bit.

Sometimes I wonder what really goes on in the mind of a news editor...

Now back to banking. I recently read a simple and excellent text that L. Ron Hubbard wrote about banking to the financial departments of Scientology Churches. It is from September 1982 it's called "AND THAT IS BANKING".

It explains in simple terms what banking is, what inflation is, what the role of a banker is etc. I advise it to anyone who can read.

It is volume 3 of the Management Series by L. Ron Hubbard. In the section called Finance Series. And exists in about 11 languages or more.


Grahame said...

There is a great online article by L. Ron Hubbard on Economics. It really explains a great deal about what is going on currently: Economics by L. Ron Hubbard.

Don Grey said...

Thanks for the note. Great article, thanks for the comment and link.

Free Music said...

thanks for the note