something i wrote for a class assignment at college..i thinks its one of my best pieces...ONE..i have lots more that are amazing!!but this is one of my pieces that's hidden with puns...its not for everybody!
Nothing is adventurous as a backpacking trip; yet nothing is as dangerous! This year as many countries are clutching on to their adventurous economies; India prepares for an economic change. The G-20 world economies met again this year in Washington only to find the surest solution to save the global economy from danger. Surely they agreed on strengthening financial transparency; boosting standards of credit rating agencies; creating a risk warning system and reforming financial institutions like the World Bank and the International Monetary Fund.
First the basics. The sub-prime market in the United States collapsed. Why? Commercial banks offered loans to real estate buyers even if they were not credit- worthy. Candy for free is more yummy than the heavily priced one. But the price is higher when the candy pinches the stomach. Investment banks relying on these commercial banks fell. And the world saw a domino effect. For the first time in ten years the Eurozone countries are rumbling into recession and the U.S. economy is choking on its breath. Recession is not the enemy but ideological change is. Is it time for the U.S. to realize that it has always been living in debt and today is just a peep into reality. A country where Sam buys a fancy car on plastic and remodels his house from equities. But today can Sam change his lifestyle without paying the cost? Is it time for the U.S. to realize that their unilateral gifts came for a price? With its market saturated and labour costs soaring high, it will have to find the most profitable gifts for its friends and foes. It will have to bailout its technocrats and advertisers to emerging economies. Is it time for the U.S. to realize that capitalism can be controlled? Ironically, the 700 billion dollars government bailout plan has only saved the promoters of laissez-faire capitalism.
Today when the Sensex sees red- it is reminded of yesterday – when the red had already predicted its plunge. The industrial growth rate is staggering at a low of 4.9%. But the PM sees success somewhere. At the G-20 meet. He sees a shift in balance of economic power at the global level and a genuine dialogue between developed economies and emerging economies. The World Bank and the IMF have promised to give India a greater voice. But sound travels a finite distance. Greater representation in credit granting agencies only creates the need for credit. But it is still difficult to conceive credit as the solution.
The Finance Minister in the recent India Economic Summit has assured that demand will be stimulated. Whose demand? Will cut in airfare prices fuel demand? Certainly for somebody it will! Even if cuts in the Repo rate, the Cash Reserve Ratio and the Statutory Liquidity Ratio prompt a reduction in loan rates- only industry will invest- with second thoughts. Will Aam Aadmi also desire to buy a fancy car and remodel his house? At least our policies are trying to plunge him into his passions. But are we not then heading towards the same rough road that our Uncle Sam treaded on? Are we subsidizing the rich at the cost of the poor?
India can look for opportunity. We can promote our products abroad and strengthen domestic industries. The PM has said that we need to maintain an open economy. But was it not the regulated economy which saved us from recession? We can use this shift in balance of power to our advantage. It is time for us to find new friends. Maybe China. Maybe not. We have others like South Africa and Brazil. And we can always shake more hands with the Germans and the French. And Aam aadmi sees one hope. Election fever is high and hopefully down will fall the costs of commodities.
When the market it free, people are not. And when people are free; they control the market. Then arises another clash of civilizations.
First the basics. The sub-prime market in the United States collapsed. Why? Commercial banks offered loans to real estate buyers even if they were not credit- worthy. Candy for free is more yummy than the heavily priced one. But the price is higher when the candy pinches the stomach. Investment banks relying on these commercial banks fell. And the world saw a domino effect. For the first time in ten years the Eurozone countries are rumbling into recession and the U.S. economy is choking on its breath. Recession is not the enemy but ideological change is. Is it time for the U.S. to realize that it has always been living in debt and today is just a peep into reality. A country where Sam buys a fancy car on plastic and remodels his house from equities. But today can Sam change his lifestyle without paying the cost? Is it time for the U.S. to realize that their unilateral gifts came for a price? With its market saturated and labour costs soaring high, it will have to find the most profitable gifts for its friends and foes. It will have to bailout its technocrats and advertisers to emerging economies. Is it time for the U.S. to realize that capitalism can be controlled? Ironically, the 700 billion dollars government bailout plan has only saved the promoters of laissez-faire capitalism.
Today when the Sensex sees red- it is reminded of yesterday – when the red had already predicted its plunge. The industrial growth rate is staggering at a low of 4.9%. But the PM sees success somewhere. At the G-20 meet. He sees a shift in balance of economic power at the global level and a genuine dialogue between developed economies and emerging economies. The World Bank and the IMF have promised to give India a greater voice. But sound travels a finite distance. Greater representation in credit granting agencies only creates the need for credit. But it is still difficult to conceive credit as the solution.
The Finance Minister in the recent India Economic Summit has assured that demand will be stimulated. Whose demand? Will cut in airfare prices fuel demand? Certainly for somebody it will! Even if cuts in the Repo rate, the Cash Reserve Ratio and the Statutory Liquidity Ratio prompt a reduction in loan rates- only industry will invest- with second thoughts. Will Aam Aadmi also desire to buy a fancy car and remodel his house? At least our policies are trying to plunge him into his passions. But are we not then heading towards the same rough road that our Uncle Sam treaded on? Are we subsidizing the rich at the cost of the poor?
India can look for opportunity. We can promote our products abroad and strengthen domestic industries. The PM has said that we need to maintain an open economy. But was it not the regulated economy which saved us from recession? We can use this shift in balance of power to our advantage. It is time for us to find new friends. Maybe China. Maybe not. We have others like South Africa and Brazil. And we can always shake more hands with the Germans and the French. And Aam aadmi sees one hope. Election fever is high and hopefully down will fall the costs of commodities.
When the market it free, people are not. And when people are free; they control the market. Then arises another clash of civilizations.
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