04 July 2009

July 4th - Freedom from the current Depression.


It is no news that after every war the country goes through regression, repression and then recession.... The economists refuse to warn us, in fear that the consumer stops spending and when the recession finally sunk in, the wheels of the economy lost the traction and skid. Now the country is trying hard to find its feet.
Wall street casinos may have anticipated this and carried out the'Sub Prime Mortgage industry Mela'. The few cases of exception that one would be given a loan turned into a habit for the loan officers and every body have landed in puddles ...No. actually it is a trench and many whirlpools. The prices have fallen everywhere (we don't need any ph.d to see why) but there are hardly people in the malls buying even with 50 to 70% discount at retail shops.
Jobs barely raises its happy hood in the horizon and if it comes up, suddenly it is on hold for who knows how long? and the people who are instrumental in causing losses of many kinds have all huddled up in their cozy corners. You may think why I am repeating the same story again and again ...Only because how much ever I want to see myself out of the water, the speed is slower than I would really like it to be.
The unemployment rates are expected to only peak and the government seems to have the tiniest snails feet. With the car industry in the doldrums, build the railways PLEASE. There will be a multiple fold rewards. There will be mass employment, lesser dependence of oil, decrease in fiscal deficit, turning sustainable and better connected rural towns to cities and accessibility to resources, which means houses will start gaining values.
But you know what, the wall street casinos are DOUBLE dipping... You read that right, and I am not very happy about it. If the stimulus is about printing some money, please send it our way too. Do you hear it Tim Geithner, the US Secretary of Treasury ? Common folks also like a free cold beer sometimes. And it shouldn't break your back Mr. Geithner because the Mint press is doing the works and not you (You don't even pay the taxes on time and you are chief of treasury..Can you beat that ?)
But We do keep up our HOPES and FAITH in ourselves. So as the 4th of july fireworks goes up in the sky, commerating independence, I sincerely wish the country to be independent of the depression that it is in right now.

3 comments:

Vinod_Sharma said...

Who would have thought a couple of years back that he would hear such a cry of anguish emerge from the greatest economic power in the world.

Time and cycles have to be respected;they will not stop. At one time the Roman Empire looked infallible, as did the British Empire and countless others. I don't know whether the real downturn has started in the US or not, but there is no doubt that the relative downturn has.

It is never a pleasant sight to see a mammoth falling...so many ordinary men and women suffer in the process.

manju said...

The economies of most countries are interlinked today.

The recession in the US affects others, too, so not only those in the US but those elsewhere also wish for the US to be free of this depression.

Will Americans be ready to change their way of living, which will probably be necessary for the situation to improve? It is difficult to change a lifestyle based on credit-cards and hire-purchase and house-loans. I hope it will be possible.

Smitha said...

It is such a scary situation, isn't it? As Manju says. the lifestyle that most of the people in the western countries have got used to, needs to change..

'With the car industry in the doldrums, build the railways PLEASE. There will be a multiple fold rewards. There will be mass employment, lesser dependence of oil, decrease in fiscal deficit, turning sustainable and better connected rural towns to cities and accessibility to resources, which means houses will start gaining values.' This does sound like a lot of sense! Wonder why the people in power do not think like this..

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