Yet Again...

I just happened to read that Devan Sharma the man who had the guts to reveal the state of US economy recently to the world authoritatively, is quitting. On the day the credit downgrading of US was revealed I was pretty sure the US reaction would be in these lines. And foolishly (as the latter reacted) it did happen.

Yet Again US is showing aggression and not showing intentions of acceptance and introspection. After all US is known to do this time and again. By doing so they are just becoming fragile and vulnerable.

Yesterday in one of the local channels of south India I happened to hear couple of speakers analyze the incumbent recession of US. And as they discussed they drew lessons for Indians, from the precarious debt situation US is in. One of the speakers quoted his mature friend say ‘When one gets his salary the first expenditure he must make is to save’ . And I wondered how good it holds for a individual, family, society, community, city and even to a nation. Although spending is essential and constructive it must come after saving what’s essential.

Getting back in line to the topic, yet again the US is pumping dollars by increasing the deficit limits. Unfortunately the dollars are only yielding money in hands of Americans but not creating jobs which will create a more sustainable and inclusive growth. They are not building a sustainable model and just blowing the balloon beyond its might.

Surveys clearly show that the once happy citizens of US of A are no longer happy. Because all the wealth they accumulated over years is now eroding and they are not realizing wealth out of their assets. Fellow citizens are losing jobs and those working are also not enjoying their work for very many reasons.

And…..What’s annoying is, a nation which is devoid of ideas is holding the baton and running without introspection. And the whole world around is lamenting and fearing another recession. The potential in Asian economies is enormous but unfortunately the US hegemony forces us to keep silent and not engine the world to a better path.

There are so many economic forums but none of them think of pulling the baton from US and ask the US to start the retrospective.

Its high time something is done other than have the burgeoning deficits of US
(funded indirectly by Asian economies) put the whole world into a standstill !!!