the collapse of the soviet union stunned the world’s population as it was not easy to comprehend how a super power could end.
The financial system in the US seems to be collapsing in a shocking manner. Something I could not have believed if I were not living the moments.
Is this a proof that capitalism is bound to fail, and that we are just witnessing the start of the its decline?
What about Free Economy? The US government proposed to bailout the financial institutions for a staggering amount of 700 Billion USD. Such intervention, I believe, is really a step in the opposite direction of what Free Economy is all about!
An Immediate reaction for the rejection of the bailout plan was record drop in the Dow and Nasdaq in addition to a drastic drop in Oil prices.
What is the future going to bring us, how are the current crises going to affect us in the Middle East? Allay yostor and this is yet to be seen
What is puzzling me the most is how have this all happened? It is not easy to believe that western economists graduating from Harvard and Yale and supposedly the brightest among the economists of the world, those behind building companies that invented INTEL, AMD CPU, those behind building MAC O/S and Windows, those behind Oracle Database and IBM websphere, those behind conquering the outside space, those behind VMWARE software. those behind building FORD and Boeing , the federal bank, the world bank, Financial regulatory bodies all the CPAs the CFAs , CMAs. It is giants like Morgan Stanley, Leeman Brothers that we are talking about!!!!
Being a software veteran, I was and still is involved in complex data mining software based on neural networks, fuzzy logic, experts systems that made possible the creation of software system like Risk Managements, Credit scoring, Anti Money laundering and others that is capable of raising so many alerts before the financial situation of a bank comes even close to exposure posing risk to banks operations. Let alone, software solution that we created here locally that monitors local bank Credit facilities classification and impairment provisions based on tough instruction put forward by the Central Bank of Jordan. Such software monitors and audits the banks credit facilities to ensure that banks have enough reserves against bad debts. Don’t tell me that such software systems do not exist in the States. And where did Basel II regulations taking us!
What am I trying to imply?
Is this a way to suck in the extra Oil money that oil producing countries made?
How much did governments and investors of Kuwait, KSA, UAE etc.. Lose?
Is this an epidemic that is going to sweep the entire world?
Well, after reading this, I am sure many people will tell me
الاسلام هو الحل