Global crisis and its impact on India

RK.Gupta

New Member
The current global crisis going on in world markets is man made and gift of a greedy financial systems in world,specially in USA and Europe.Americans traditionally live in opulence and a free lifestyle over- spending money more than what they earn.US i most debt ridden country in world but enjoying best living standards.Their pet Pakistan is doing same. Credit cards, stupid mortgage product offerings innovated by overpaid and idiotic management experts in banks,super fast growth rates, opulence and lack of concern for human face and for environmental sustainability is the cause for this debacle.Even then majority of Americans are in bad shape,lonely,stressed up and have to slog it out to survive.There are tens of English songs by top singers of various times to support this.

The new wave of globalization was launched by western world is a Plan to enter into closed markets of several countries like India in a neo-imperialism attempt by giving promises of great things to happen so their resources could be exploited and American opulence could be continued in western countries and also to meet cost of ongoing oil war led by USA.Many countries were weakened successfully including USSR.

The recent problem of European countries is nothing but mad rush for superficial and breakneck growth, modern banking culture,debt markets and lack of concern for environment and traditional value systems.Living beyond means.

The debt trap : For giving loans book money is created by bankers in more and more weird products.A whole new jargon of financial terms have been created.For one dollar banks can create 10 dollars of money.

Without basic support like gold, money is printed everywhere including in India.

UPA goverenment and congress Party claims price rise is due to global prices.I want to ask them give me list of items that India imports regularly and at what price and what is share of imports in Indian consumption.What about items that are not imported.Why their prices have gone up.You can't fool people.The sugar prices had gone up and also exports are allowed.What is all this? is not it bad planning and failure to stabilize and develop our agriculture.What Congress government has done in 8 years in this area.What they have done for law and order and judicial reforms and expansion.Is not it matter of shame that in India it takes 20 years for first level trial to complete ? Crinlkas obviously enjoy this.Many are in parliaments,meanwhile.

The result is for all to see.

The world is undergoing a craze of greed,profiteering and opulence.

Sadly Our Indian government though under some control of criticism and leftist thoughts present in India, is also itching to do same mistakes that European countries have been doing.

Talking of double digit growth is like asking a donkey to run like horse.In India it means reinvesting 40% of GDP. where is money left to invest? 10% GDP is wasted in half managed schemes like NREGA and wrong subsidies ( support right subsidies like aid to senior citizens, loans for girl students and pensions to unemployed)

Imaginary capital has been created in the world.Like in stock market capitalization.This is virtual money in air and books only.It can never be realized fully.It evaporates in 30 minutes like it happened Usually.No one can do anything.

No one asks fundamental question? Without generating real wealth how any one can get richer?

What is primary wealth? agriculture ,mining and manufactured goods. To some extent it is in services also.

Companies have to invest and work real hard to generate profits.When companies make huge and rising profits obviously it is coming from pockets of consumers and amounts to profiteering and exploitation, like going on in India.Take any company product and see their price labels in last three years.You will see continuous jumps from month to month or quarter to quarter.It is laissez faire.Hail Globalization slogan!

There has to be a social norm on a reasonable returns on investment after factoring in the sectoral or technology specific risk.India needs FAIR PRICE COMMISSION having national jurisdiction not manged by politicians and bureaucrats.

But euphoria of profits and greed is going on around the world

It is very late realization that economic development jargon has to be given a slow down for some time to restore sense in world markets.But ManMohan government does not understand ,it seems.

It would be advisable for Present Indian Government to come out of theoretical books and world of fantasies to make India USA in 20 years.In name of removing poverty This government is creating more and more poor.

We should aim for moderate GDP growth rate of around 6 % which only can be achieved consistently and well handled without inflation and deteriorating environment.

Canadian system is more suitable for India than American System.But we don't even have American system.We have funny system with no head and tail.No ratios like America are in place.India should stop aping Americans.On top of it we are not able to achieve any of their socio-economic indices.Instead of metered and gradual deregulation we are going at blind pace.

It is always better to have a stable P/E ratio of 12 than volatility in capital markets.Reasonable profits and solid social services structure are key elements of any happy society.Our current government seems to have forgotten all that.

The biggest mystery is who is after all this.Who are beneficiaries? Why Opposition Party BJP is so quiet?

Please Post Your Views and Comments
 
Well trying to give India a lifestyle of foreign country, compelled the Indian financial sectors to work more like them. Since globalization brought many foreign companies to India, the entire professional working style was imitated. So when the king was dead, it was obvious that the ministers will too have a deep impact and this is what happened when American economy collapsed. Since India was heavily depending on outsourcing, the sudden fall did left Indian professionals jobless and people onsite was compelled to return. The sensex dropped drastically and the prices of all commodities staring rising. The crisis brought every country to a standstill and the same was with India.
 
with the recent global crisis, india did have an impact on it, though the economy was not much affected by the fallout. however, the working class people in private companies did face troubles of losing their jobs, or getting underpaid salaries. this caused some hassles in living as we have been slowly adapting the western lifestyle which is full of expenses and unable to meet them, people faced troubles.
 
global crisis is something which prevails throughout the years together most of the times because some or the other nation is affected by something wrong which eventually affects the other connected nations. however the deepest impact was seen early when there was high inflation during which there were loads of people left unemployed. india is connected well to the world and so if anything affects the world, affects india deeply.
 
india has impact due to global crisis but not as much as the developed economies where loads of people lose jobs. india did face a little crisis, but we were self sufficient to combat the situation. we owe all this to the indian gov and their economic strategies. but then we should have more stronger policies in near future because india is also becoming one of the big economies in the world.
 
In life of people there is some special place for everyone and money as well. No matter if it’s in some other currency many problems which we’re facing in life as well as day to day living are connected with the problem of economy. Shelter, food, clothes, education, life style and comfort etc are directly related to the global money crisis. Money should be rotating. It comes, goes and it again comes back. It should change hands otherwise it is simply useless. Its we who are the sufferers of the global economy crisis. Definitely it lays a great impact on the people.
 
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