Posted on 12/11/2008 3:53:45 PM PST by JeepInMazar
Shariah Finance
December 2008
Allen Reed
The real estate market has crashed. The stock market has crashed. The banking sector is in shambles. Unemployment and underemployment is rising. There’s a liquidity problem making it difficult for companies to obtain necessary capital to expand their businesses and thereby increase employment. The US borrows over $700 billion a year from China and we end up transferring that money to the Saudi’s and the Middle East in the form of petro-dollars, also reaching $700 billion a year. It’s an interesting number as the federal government just agreed to spend $700 billion in taxpayer’s money to “fix” the current problems. But will it?
Before we can answer that question, we have to answer a slightly different question. What is the problem that needs to be fixed? Is it sub-prime lending? Is it redistributive economic policies? Is it a lack of competitiveness with our overseas competition? Is it corrupt Wall Street “insiders” and “speculators”? Is it corrupt CEO’s of our major companies? Is it the oil industry? Or is it something else? The answer is not something most Americans want to hear nor are they prepared . . . read article here
Interest and banking and a return on investment is what made western civilization and allowed for the financing of industrialization. Care to guess why the Muslim countries are stuck in the squalor of the 8th century? Islam is the most retrograde ideology in the world.
Ping to read later
I missed this. Thanks anyway.
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