The underlying causes leading to the crisis had been reported in business journals for many months before September 2008, with commentary about the financial stability of leading U.S. and European investment banks, insurance firms and mortgage banks consequent to the subprime mortgage crisis.

Beginning with failures caused by misapplication of risk controls for bad debts, collateralization of debt insurance and fraud, large financial institutions in the United States and Europe faced a credit crisis and a slowdown in economic activity. The impacts rapidly developed and spread into a global shock resulting in a number of European bank failures and declines in various stock indexes, and large reductions in the market value of equities and commodities. The credit crisis was exacerbated by Section 128 of the US Emergency Economic Stabilization Act of 2008 which allowed the Federal Reserve to pay interest on excess reserve requirement balances held on deposit from banks, removing the incentive for banks to extend credit instead of placing cash on deposit with the Fed. Moreover, the de-leveraging of financial institutions further accelerated the liquidity crisis and caused a decrease in international trade. World political leaders, national ministers of finance and central bank directors coordinated their efforts to reduce fears, but the crisis continued. At the end of October a currency crisis developed, with investors transferring vast capital resources into stronger currencies such as the yen, the dollar and the Swiss franc, leading many emergent economies to seek aid from the International Monetary Fund.

The underlying causes leading to the crisis had been reported in business journals for many months before September 2008, with commentary about the financial stability of leading U.S. and European investment banks, insurance firms and mortgage banks consequent to the subprime mortgage crisis.

Beginning with failures caused by misapplication of risk controls for bad debts, collateralization of debt insurance and fraud, large financial institutions in the United States and Europe faced a credit crisis and a slowdown in economic activity. The impacts rapidly developed and spread into a global shock resulting in a number of European bank failures and declines in various stock indexes, and large reductions in the market value of equities and commodities. The credit crisis was exacerbated by Section 128 of the US Emergency Economic Stabilization Act of 2008 which allowed the Federal Reserve to pay interest on excess reserve requirement balances held on deposit from banks, removing the incentive for banks to extend credit instead of placing cash on deposit with the Fed. Moreover, the de-leveraging of financial institutions further accelerated the liquidity crisis and caused a decrease in international trade. World political leaders, national ministers of finance and central bank directors coordinated their efforts to reduce fears, but the crisis continued. At the end of October a currency crisis developed, with investors transferring vast capital resources into stronger currencies such as the yen, the dollar and the Swiss franc, leading many emergent economies to seek aid from the International Monetary Fund.

"You are Israel's teacher," said Jesus, "and do you not understand these things? I tell you the truth, we speak of what we know, and we testify to what we have seen, but still you people do not accept our testimony. I have spoken to you of earthly things and you do not believe; how then will you believe if I speak of heavenly things? No one has ever gone into heaven except the one who came from heaven—the Son of Man. Just as Moses lifted up the snake in the desert, so the Son of Man must be lifted up, that everyone who believes in him may have eternal life. "For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life. For God did not send his Son into the world to condemn the world, but to save the world through him. Whoever believes in him is not condemned, but whoever does not believe stands condemned already because he has not believed in the name of God's one and only Son. This is the verdict: Light has come into the world, but men loved darkness instead of light because their deeds were evil. Everyone who does evil hates the light, and will not come into the light for fear that his deeds will be exposed. But whoever lives by the truth comes into the light, so that it may be seen plainly that what he has done has been done through God."

Many of us have come to understand that it is the powers of nature rather than spooks in the sky that drives all species to compete for survival, and realize that we must devise ways to overcome the need to compete for the earthly resources that sustain our livelihood. We now have the transportation and communication technology to govern the planet with a single administration, and could prevent the costs and sorrows of war by uniting the nations. Then we would no longer need large populations to supply us with plentiful cannon fodder, or the modern technical weaponry to defeat each other with. By eliminating the need for trade and immigration restrictions we could save still more. By offering such huge savings to the public we should, in effect, be able to bribe the masses into abandoning their attempts to gain legislated advantages over each other. By so doing, we could additionally save the enormous expense of holding periodic elections, and the high salaries and perks of the representatives that gain their support through providing the majorities with legislation that economically appeases them: ridding ourselves of the scoundrels that lead us to commit such atrocities upon each other.

Without politicians and governmental programs for the unemployable, we would have to revert back to the times where family groups cared for their own invalids and elders, and with the tax money retained, could again provide assistance or disability insurance for the truly needy. This would prevent the present welfare scams, and second generations that become accustomed to living on the dole: for relatives wouldn't continue to slave for those that were inconsiderate of them. People should be more concerned with the able bodied, and strive to prevent further deterioration of the planet's life supporting environment. As well we must use our advancing intelligence to overcome our need to compete, rather than by using our animalistic instincts to compete to the best of our ability. Avoiding remaining our own worst enemy, and providing ourselves with an environment where we are able to respect each others equality through taking the initiative to use our advancing wisdom and abilities to guide our civilization to its highest potential for all time. However, don't vote for me, I'm only trying to tell you how you should run the whole shebang. It is you that must learn to lead yourselves: rather than be led to an untimely end, like a herd of sheep. Probably we should arrange to have weekly gatherings and use modern communication devises as we do in the present, to convert us from our present national, political, and religious conflictions, to bring us to the bountifulness that a species that is one of mind and purpose can provide for itself.

"You are Israel's teacher," said Jesus, "and do you not understand these things? I tell you the truth, we speak of what we know, and we testify to what we have seen, but still you people do not accept our testimony. I have spoken to you of earthly things and you do not believe; how then will you believe if I speak of heavenly things? No one has ever gone into heaven except the one who came from heaven—the Son of Man. Just as Moses lifted up the snake in the desert, so the Son of Man must be lifted up, that everyone who believes in him may have eternal life. "For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life. For God did not send his Son into the world to condemn the world, but to save the world through him. Whoever believes in him is not condemned, but whoever does not believe stands condemned already because he has not believed in the name of God's one and only Son. This is the verdict: Light has come into the world, but men loved darkness instead of light because their deeds were evil. Everyone who does evil hates the light, and will not come into the light for fear that his deeds will be exposed. But whoever lives by the truth comes into the light, so that it may be seen plainly that what he has done has been done through God."

If I speak in the tongues of men and of angels, but have not love, I am only a resounding gong or a clanging cymbal. If I have the gift of prophecy and can fathom all mysteries and all knowledge, and if I have a faith that can move mountains, but have not love, I am nothing. If I give all I possess to the poor and surrender my body to the flames, but have not love, I gain nothing. Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It is not rude, it is not self-seeking, it is not easily angered, it keeps no record of wrongs. Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, always perseveres. Love never fails. But where there are prophecies, they will cease; where there are tongues, they will be stilled; where there is knowledge, it will pass away. For we know in part and we prophesy in part, but when perfection comes, the imperfect disappears. When I was a child, I talked like a child, I thought like a child, I reasoned like a child. When I became a man, I put childish ways behind me. Now we see but a poor reflection as in a mirror; then we shall see face to face. Now I know in part; then I shall know fully, even as I am fully known. And now these three remain: faith, hope and love. But the greatest of these is love.