Home > Asia Pacific > South Asia > India

Dalai Lama Blames Financial Crisis on Spiritual Fall

By Michael Heath, Bloomberg, Jan 13, 2009

Varanasi, India -- The Dalai Lama, Tibet’s exiled spiritual leader, blamed a lack of spirituality among people today for the global financial crisis.

The Buddhist monk, speaking during a weeklong religious seminar in the Indian holy city of Varanasi, told followers that “rampant corruption in the world” is due to a decline in culture and spirituality.

“People have become selfish and materialistic, which has led to the economic slowdown,” the 73-year-old Nobel Peace Prize winner said in an address at the Central Institute of Higher Tibetan Studies yesterday, Indian state-run broadcaster Doordarshan reported.

The U.S. housing slump that began in 2007 has developed into a worldwide crisis that forced central bankers to cut interest rates to near zero to unlock credit markets, pushed governments to bail out their biggest banks amid $1 trillion of writedowns, and sent titans like General Motors Corp. and American International Group Inc. begging for bailouts.



Google
 
Web www.buddhistchannel.tv www.buddhistnews.tv




About Us
Get Breaking Buddhist News in your Email. Free subscription.

Please help keep the Buddhist Channel going

 

Point your feed reader to this location
Wikipedia: Buddhism by Country
Sangha Directory
Ecards
Wallpapers
E-Library
Archives
Sitemap
Submit an Article
Write to the Editor
Affiliation Program

      About The Channel   |   Disclaimer