What has really failed the world economy?

Read the article in the Washington Post "Toward a New International Capitalism." It seems the ruling elites in the world are still looking for some "conceptual failures" to justify for the collapse of the global economy. They are still not facing the root of the problems, namely, the degeneration of human civilization and human values!

I am not moralistic at all but if you look at what lies behind the over-leveraging, over-speculations, over-risky investments, and gambling culture behind all the silly activities that have caused the housing and credit crises, the collapse of our stock and bond markets, our mutual funds, retirement and pension investments, etc., then you can't deny that it is a highly corrupted and degenerated human civilization and value system that lies at the core of the rotten apple. Whatever terms or labels you want to use:

• Capitalism
• Communism
• Materialism
• Casino Culture
• Globalization
• Opportunism

Whatever "ism" or ideology or belief or behavior code or ... the heart of the problem is that human nature has degenerated to a level that is truly sub-standard by any measure - a level that is leading to self-destruction!

The devils in Wall Street and their friends are the carriers of this deadly virus and they spread the disease to the whole world. That's why we see failures in all major markets whether Japan, Europe, Middle-East, Russia, Asia including China and India.

Remember the so-called MAD BULL disease in the stock markets of Hong Kong, Shanghai, Shenzhen? Our mass media had reported scenes where people in the street unashamedly pronounced that they were speculating in the stock markets and betting all their money. Some cried like mad and were proud of doubling and tripling their fortunes within a single day!

Do you call such behavior the failure of "capitalism"? Don't be silly! Such behavior took place all round the world and it took place inside our Mainland China ruled by our Communist Party.

The first thing that our ruling elites must think about is how to re-educate this debased, degenerated and dehumanized humanity and re-establish a decent human culture that will help to develop a stable, healthy and sustainable human economy. No more discussions over "ism", ideology, etc.; this is an absolute waste of time!