I thought I would share a few quick thoughts on the state of the economy,interest rates, and
the financial markets. The reason I wish to share this here is related to a paragraph I read today in an investment newsletter.
Those who know me, are aware that this is an area where I have considerable vicarious interest, and some “seat of the pants” experience
and some knowledge. I was struck by the statement that…One of the basic tenants of Buddhism is that, the root of suffering is desire…
our craving for and clinging to transient phenomena …So what is my point. At the current time The Federal Reserve ( The Equivalent
to The Bank of Canada here) has interest rates pegged to the official Fed Rate of zero to 0.25%)
My point is that , desire leads to people feeling that their inner existential issues,and spiritual issues can be solved or made better by having more things.
( that is, more houses,bigger houses,more and fancier cars, luxury clothing and accessories,and fancy and expensive vacations ) Now, don’t get me wrong…
I enjoy these kinds of luxury items in life as much as the next person BUT …what happens when the desire for this, leads to excessive borrowing to attain the lifestyle,
and then, with a life event such as job loss,or rising interest rates, the individual finds themselves unable to support the debt associated with the lifestyle. A rise of interest rates
is inevitable.A new inflationary trend will follow. ( likely sooner than later) Then desire turns into suffering … It goes without saying that you can’t
have something for nothing. I believe that we all lose sight of the value of inner peace,serenity,and spiritual connection in a world addicted to debt and consumption.
My view….the current credit bubble and borrowing binge at excessively low rates will not end well….It will actually end in tears….I can’t tell you when. I can’t
tell you the circumstances leading to that outcome. BUT….it will happen. The winners will be those with the foresight to pay off their debt,and give themselves
the peace of mind of having time to pursue and understand the nature of your spiritual self….and to have time to enjoy a daily spiritual practise.
Be cautious about succumbing to desire for ” things ” …. focus on desire for soulful peace, and connection to the higher universe…And you may find that,
paradoxically, you end up having more than you could ever desire in the first place ! The universe gives to you in unexpected ways …. in ways that honours your honour for the universe !!!!