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My Little Spiritual Reflections On The Current Financial Crisis

March 31st, 2009 by Wai Loong (2 Comments)

Dear Loyal Readers,

It’s been quite some time since I’ve wrote about my life since my previous blog post.  In fact, I have been rather preoccupied with much personal spiritual development, as well as moving ahead with my little financial development.  I shall not reveal too much over here because life is so uncertain and that I can’t expect too much from the efforts I put in.  But rest assure that this process in me is a slow and long-term focused and self-fulfilling journey!  🙂

If you are confused by what I mean by personal and spiritual development, there are clear distinctions which you must be clear as I will be mentioning the latter often in relation to this post.  The following blog posts I’ve found while I did a little bit of Googling, may be helpful to your understanding in this aspect to assist you to be on track to my discussions here:

  1. The Difference Between Spiritual Growth and Personal Development?
  2. What Is Spirituality?

Okay, let’s just put my problems aside shall we?  I have to discuss a very serious topic now regarding our current credit crisis that we are all so suck up into.

But first, do treat yourself to this little video that my value investing teacher shared with us in our private discussion forum.  It’s a pretty neat video that can explain to you how our current crisis comes about and why is it linked primary to the sub-prime mortgage problem.

The Crisis of Credit Visualized!

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo

And that its…!

I hope you weren’t depressed by what you just saw in the video?  Now back to the very serious topic regarding your financial future…

It has been quite some time that I pondered over the question of money and spirituality that worked continuously in our lives, and I’ve even attempted to find a link to it.  So in this post, I shall discuss some of my own viewpoints that I think might be useful for further reflections.

But first, let me ask a very important question to start off with…

“Have You Ever Thought If  Everyone HAVE NO MONEY, Now?

I’m not crazy.  In fact my conclusion for this article is from the standpoint of living spiritually, that we are a lot more happier if our monetary system is not centered around everyone making money (or far more accurately, by carrying more debt), but rather by the capacity of individual to creating social value and exchange that credit for life’s necessity.

I know, this is really unusual for me to conclude first before writing out the full article.  You may not appreciate it now, but allow me to explain…

Woman Talk Show “Women On Top”

Have you watched the final telecast of Channel U’s talk show “Women On Top” (女人大主意) hosted by Quan Yi Fong 权怡凤?  It was the last of its kind and I must conclude that it is a waste of their time debating on something that is virtual.

I’m not saying that it’s wrong of women having more power and financial control, or that men is weakening in power and have less status.  Afterall, the show never identified the root cause of all the issues.

The root cause is the rise in human being ignorant about finances and how it affect their lives.  In fact many women are rich and successful in life, but find themselves unfulfilled and unsatisfied.  The truth is, many women tend to be more focused on material gains, but failed to admit that they failed to satisfy their emotional needs.  Again, I’m not saying that men don’t.  I’m merely pointing out that the comparison is more on material, being more conscious on material needs, and therefore more likely to be deeply attracted to the 5 senses: sight, hearing, aroma, taste, feel and form.

Buying expensive handbags just for self indulgence?  That’s what most women do (okay, men crave for other things like cars, watches – you name it!).  Desires feed desires.  There is no ending to this vicious cycle.  Not enough money to feed their desires?  Suffering results.  Thinking that making more and more money will solve all problems.

Financially free women?  This is no longer an unheard concept or strange idea.

But is that money spent, or making more money makes one any happier? The more one craves for material indulgences, the more one becomes dissatisfied.

Looks Are Illusions As Well…

Even guys who do not look good or look poor are often despised upon.  Why?

Is this sudden rise in monetary power gained by women in this part of the world becomes a source of unhappiness?

For example, I just openly found out that girls perceive guys from the watches they wear, the shoes they wear, the briefcase they carry, the type of car keys they carry.

Well… Look at me!

I have never carried a wrist watch since the age of 14.  Why do I have to carry one when I can read the time from almost everywhere else?  I steal a shot of time from the watches others are wearing.  Now it’s even showing up on my mobile phone.

Carrying a watch is simply a symbol of status, a symbol of ego.  As you may have already heard of, ego feeds more ego.  Another vicious cycle.

Fortunately, I’ve long learned to be detached from this poison.

So Are Looks Myopic…

I can almost guarantee you that the average Singapore (or even outside Singapore) women will fail to fall for the looks and dressing of Warren Buffett (when he was a lot younger).

Isn’t that plain absurd?!  I have to emphasize that frugality is a virtue.  Quite often, you will hear mature women saying, “it’s not because the man is rich or handsome, he must be kind-hearted and caring.”

Come on!  Give me a break.  It’s the pockets that count in most cases!

Isn’t that a very contradicting statement?  Deep down inside them, there is already a trace of blame, a source of dissatisfaction no matter how one denies.  Looking outwards into thinking that there is a perfect man outside her heart (vice versa with man as well).  It will never happen because perfection comes from within one’s heart, and we need to do something about it rather than hosting talk shows and confusing ourselves over the flawed monetary system we so well buy into (you shall see very soon why, in a ground breaking video below).

The Secrets of Our Young Generation And Their Concepts of Money…

Parents must set examples for kids in the concept of money.

I’ve come up with a new concept that will scare most parents off and they will never appreciate without much self-reflections. And that is to sending your kids to neighborhood schools.  Believe me, it may be a smarter choice in the long run. Why?

At the minimum, kids in neighborhood schools is less likely to crave for expensive gadgets from their parents. Parents themselves must be frugal and virtuous as an example, instead of indulging in overseas holidays, good and expensive food, new gadgets etc.

Aren’t women and men these days who are smart enough parents, know that children are great modelers?  Children learn everything quickly from their environment, their parents being the first impact of all financial courses!  So why aren’t smart women and men taking care of their personal view in relation to their flawed perceived value to money, and allow this flawed values to multiply and pass on to their children?  And then they blame their school teachers for failing to educate their children in schools?

Come on, give me a break ya?!

Why are both parents forced to work so hard until late into the nights, as everyone can easily observed in today’s professional men and women?  Do you really think they are so passionate with the work they do?  Is it by choice or loss of freedom?  So have I already identified where the source of financial dependence (vs independence) comes about?

Frankly speaking, more smart women and men work very hard because they want to feed their egos, rather than true satisfaction because virtually everyone buys into the concept of Money As Debt, which you will see in a ground breaking, eye popping 47-minutes video below.

Pure satisfactions comes from passions that are aligned to spiritual development, not money driven.  Money is merely a concept, a confidence that a certain piece of paper has enough value, that serves conveniently as a means of exchanging or trading for what you need.  Beyond your needs are your wants which is never satisfying because of fueling greed.

Easy Credits, Easy Breaks…

MAS has just recently revised all credit cards applicant’s minimum annual income down to $20,000.  This will induce more people to join the fray of bankruptcies/insolvencies in the years to come.  Money management must be instilled right into these group of people before allowing them to handle easy credits!  I fear that the dark secrets of debts may never be realized and another financial bubble is blowing up, just waiting to be burst.  Increasing easy credit creates more money (and debt) into this already inflated most economies, essentially creating more unhappiness as I have already pointed out why.

Very few people who owe multiple credit card debts can tell you that they are happy or joyous about it.  But what are they really unhappy about?  Haven’t they already bought and consumed their desired products or services (on credit)?  If you are already enlightened by what I mean, credit is essentially or virtually nothing.  It’s thin air.  It’s merely a piece of trust of repaying debt.  So why are people so upset about thin air?  This wisdom is a little Zen, but very true when banks come after you and asking for money they have created out of thin air.

Perhaps you may not be financially enlightened on what I have been talking about.

Read on (or watch on) what I have to show you in an eye popping video on money…

Money As Debt

In a ground breaking video, Paul Grignon presented the truth of our financial health and obligations.

I must warn you that not everyone has the time and patience to finish watching this video.  In fact, that’s why patience is a virtue.  So few people have it.  If you have been reading this far, then you DO HAVE that patient substance to take your own financial education and even your own spiritual development to the next level.

So as a promise to you, below is the video that I have watch recently that created a big impact on my outlook of money.  I can guarantee you that you will be a lot more financially wiser after investing your quality time on this kind of material that I’ve put together for you, my valued reader.

Paul Grignon’s 47-minute animated presentation of “Money as Debt” tells in very simple and effective graphic terms what money is and how it is being created. It is an entertaining way to get the message out. The Cowichan Citizens Coalition and its “Duncan Initiative” received high praise from those who previewed it. I recommend it as a painless but hard-hitting educational tool and encourage the widest distribution and use by all groups concerned with the present unsustainable monetary system in Canada and the United States.

Some Reflections After Watching This Video…

I’m sure you have a lot to say to me now, or that you have doubts?

Have you wondered midway, while watching the video that the fiat currency that is in your wallet right now may not necessary worth any real value?  Better off carrying gold or silver bars?

Indeed, taking the concept of money from the perspective of debt was very enlightening!  Ever wondered why economies grow so quickly in the last 5 years, with occasional corrections?  Financial bubbles come and burst, but the economy will continue to recover and rebound as long as credits and loans are again flowing; it’s like the blood in our body.  If the blood in us stop flowing, life terminates.

As Paul puts it well, “No Debt = No Money”.  But since all economies in the world are now so tightly bounded by the necessity of debt, it is almost impossible to be debt free.

But if debt DO get paid off, won’t the economy becomes fully dysfunctional?

In my humble opinion, the economy that rides on money as debt requires even more human efforts to sustain.  Good and honest people work hard everyday but they are probably never ever going to be compensated fairly.  All these honest people takes up all sorts of loan and bind themselves to a lifetime of debt that doesn’t even exist in real dollar in the first place!

On the contrary, people who figured out how debt functions in our monetary system, are taking in huge profits in the form of interests and many other equivalent form of payments.

So is this a fair system?  I doubt so.

But instead of whining and complaining that the world is unfair, why not learn the ropes of better finances?

Though I must admit that better finances will not directly drive your spiritual development, it is nevertheless an important skill that supports it.  Without whom, our minds cannot be calm and concentrate on that all important full time spiritual profession that we all embark upon our lives.

And of course… Maybe we might all have a small chance of clearing up all our mess resulting in our ignorance of the power of debts?


A large part of me have changed significantly over the past 3 months.

Over the past months, I have personally met a number of outstanding individuals whom I have learned much from with regards to my own spiritual perspective of life and in relation with money.

A lot of people I know in my social circles have the natural tendencies to repel money, simply from the way they speak and behave.  Learning how to navigate one’s success in personal finances is not difficult.  However, this path possess a steep learning curve.  Just remember that as in all discipline and studies, it will require one to take significant amount of efforts to learn, apply and master.  Some people will take months, while others will take many many years, perhaps a lifetime to master.

My personal recommendation for accelerated growth in wealth and/or spiritual studies, is to be and learn with someone or a group of highly motivated individuals who have walked this path successfully.  Your best chance of learning will most likely comes from personal mentor-ship, though this approach is not an easy path.

If you can’t remember anything above, just remember this:
Keeping your life simple is the most direct and easy means to walk the path to spiritual and financial success!

So do Stay Hungry, Stay Foolish, and

May all beings be Safe and Happy!

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2 Responses:

Leroy on April 5th, 2009 at 10:48 pm


As Robert Kiyosaki said, “It is who you know that determines your success.”

Surrounding ourselves with the appropriate people will definite change our perspectives in life.

When the Student is ready, the Teacher will appear.

Thanks for sharing! 🙂

Wai Loong on April 8th, 2009 at 10:44 pm

Hi Bro!

Thanks for the wise reminder!
I have been seeking to associate myself wisely with appropriate folks for the past 5 years and I’m really happy to report that your quoted statement is indeed true!

I look forward to learn a lot more from your invaluable life experience! 🙂

With Love and Gratitude,

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About Insights, Inspirations, Tranquility, Peace and Harmony

Ng Wai Loong

Wai Loong is an electronics engineer by profession. He currently resides in Singapore, a thriving hub at the heart of South-East Asia. When he is not so stress out on the computers or laboratory, he enjoys value reading, jogging at his own pace and blogging in his spare time. Other times, he likes to catch up with some close friends over a cup of latte or teh tarik. As a gift from this friend, you are invited to interact freely with him on his personal blog.

PS: May the person reading this blog transforms his/her businesses, finances, relationships and life for ALL to WIN!