Markets are going down for a few months now. Not just in the USA, but everywhere. One would think the indexes have tanked and they will start turning back up pretty soon. But every passing day brings with it some other bleak story - pushing the numbers further down. Once in a while we see speculators pushing it up a little bit, in vain hopes of the govt. recovery package doing wonders. But alas, we see the bear shaking its back ever more vigorously on the Street.
We have seen hundreds of thousands of jobs wiped out recently. Many more are on their way out. Again, not just here - but every where else as well. Banks collapsed. Many companies were shut down. Auto giants are on their way out or getting ready to be marginalized to being minions. One would think the nation would start getting into a savings mode never seen in recent times. But I haven't seen that in my community here where the restaurants and malls are ever so crowded even during weekday evenings, let alone on weekends.
Then we have the learned economists asking the public not to withdraw into their savings shell, but continue to spend as if nothing has happened. They say that is the only way to beat the recession. Yeah - right! Aren't these the same elite who brought about this situation? How can a reliable solution come out of their brains, which created this mess in the first place? Are we to believe that they realized their mistakes and now are prescribing the right formula?
Methinks, in simplistic terms, that all these economists and highly learned folks, complicated the otherwise keep-it-simple theories only to suit their own self serving purposes without any social relevance in mind. You earn money, save it and spend it for your needs first, and then wants. You borrow at times to meet those. But what we have seen is that the second step is missed completely in recent times and that the wants and may-be's have become needs and cannot-live-without's. All because of the media and marketing blitz added to the plethora of pundits that rule this world with their short-circuited brains and convoluted thinking.
Keep it simple, stupid!
Swasti!!
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