But does everybody else ?
In a planet where 95% of the wealth is owned by 5 % of the people. Where 5% of the people consume 95% of the earth’s resources beyond their basic needs, and where global media has ensured that the 95% know how that 5% live, is it surprising that the world is in turmoil ? There will be no going back to the old financial systems. There will be no recovery of the global financial systems as we knew it , where the financial systems inherently are designed for the protection of the 5%.
This global meltdown is a great leveler that was a long time coming. It caught the innocent in it’s web and will cause a lot of pain to those that already live with their belts impossibly tightened. But it is the new beginning of a more equitable world.
Obama gets it, but can he handle it ?
Shekhar,
The crux is that it will still be the same 95% who will suffer this meltdown. Life has never been as uncertain for them as it is now. Whatever the world order, whenever it changes, it is always this section that takes the brunt.
Rightly said sir. I’ve thought about it myself. As long as 5% of the world are given undue protection, it’s still a question mark if an equitable system can be launched.
Scary.
I don’t want to think.
When the head gets it soon the body too will get it.
A progressive rate of taxation, as can be seen in India, encourages tax-theft in my opinion.
I would say that if we had a flat-rate of taxation in this country, the total amount of money collected as tax would have been larger.
That constitutes just one aspect of the whole issue, of course.
Civilized world !
Shekhar,
Remember that “Realm without sense”!
Sanjay.
Dear shekhar,
great post. Short and very meaningful. I understand it very correct. But 95% never listened to intelligent people. They have always behaved like they are not going to get affected anything in their society. In bangalore, there is nobody in the malls and shopping complex because nobody have cash to spend. Little girls are still there, who have no idea how their daddys earn it. great post. The most pathetic think it’s superior to support The 5% well fare financial sytem because the country is so rich and they take a pride in being a support of that financial ideology. India had been slaves for centuries and it’s just 62 years we have independence but you can see clearly that our intelligent creative people who is a smart rakcet who control the bollywood and indian english writing are giving back ‘the freedom’ to the ‘master’ to reinvent it and gives back with 100 instructions which can hurt their own country. Please read my comment about your posting on ‘gulaal”
With love..
Shekhar:
I wish what you were saying is true..I have been many professors analyze the cause of the problem. The cause of the problem indicates that if the cause is fixed the problem will go away..Not always, but mostly. The cause of the problem has been bad bundling of credit accounts and reselling by mortgage providers. In this process they made profit but also ended up with lot of bad credit as no one was willing to buy it. Also the insurance provided for the loans where compromised due to less honesty..
The repackaging and reselling of mortgages is a new way to make money. Now it is stopped as no one wants to buy mortgages without knowing if they can be collected.
And because large firms were tied and mortgage is the biggest chunk of most mens salary in US..the economy is affected when the companies are affected with no payments, due to bad credit..
So I dont think realignment of wealth is happening as much as you expect. But yes realignment is happening due to internet and globalization.
Regards,
Ronin
when will eyelashes meet with eyelashes………
its been a while since they met….
I know dear, tears flow…..
into a river of emotions…
but let it go…..
let your tears decorate my eyelashes
like dew drops on a thorn…
let all your sadness come and rest…
on my eyelashes…
im waiting…..waiting…will wait for ever…..
Okie seems I am facing the wrath of the ‘frozen comment syndrome’ once again
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again posting this
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posting it back in true grit (response to your comment Shekhar)
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aaj two comments not showed up huh
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kisi ko kaam nahi mila lagta hai…sivayi merei comp se comments freeze karnei ka
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Obama cannot handle it the way he said it
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can’t forget the Lobby in USA
‘Jew Lobby’
he will have to bend his back, for them, as sumone must have aided him for all these rallies n political expenses to win…
.
Theres a price a motive behind each step…especially politics huh…
shmilee
Swiss Bank that has for past one century been the notorious bank which parks the money of bad politicians and businessmen of all country is being made to disclose , hope that helps . It is believed the money in Swiss bank accounts of Indian politicians is enough to eradicate poverty instantaneously .
But i wonder even if the paper notes (currency) starts being redistributed , will it change the standard of lives of all or will it cause new economic blunders .
I guess the answer to all this is to start looking money(paper notes) in a very new way and i think it would eventually happen without someone really trying to do it .
#13 and i think it would eventually happen without someone really trying to do it .
Well said, Alok. How people are gradually coming to the realisation that things happen despite them!
The accumulated national debt:
Or the trade deficit of different nations: http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance
The whole world seems to depend on the biggest consumer nation in the world, the United States of America, to buy goods with money the US never had in the first place. They borrowed some of that money from countries like China and Japan, the very same countries they buy most of their good from. But now the US is broke!
Where to we, the citizens of the world, go from here?
What do we infer from this ?What is money ? Why do we work ? Why do Indians serve Americans like donkeys? Bloody hell
America / EU must force a change in Swiss Law. Secrecy must be abolished, cuz that is encouraging Financial Terrorism wherein the thieves worldwide deposit their booty (kitty) safely in Switzerland. This option must now close. (Same for Cayman Islands/Luxembourg / havens etc).
It is estimated that Indians hold USD 1400 billion in secret swiss bank accounts.
India is a country of 1.6 billion people (80% earning < USD 1 / day). 40% of Indian kids are mal-nutritioned (walking corpses). So the enlightened Govt. of India (headed by an economist) must do something., whereby the Indian Super-rich are encouraged… that if they bring in these USD 1400 Billion (held in secret accounts) and invest in infrastructural projects in india., they would be tax-free. Give them incentives. This INFLUX of capital would lead to taking up of huge projects thereby creating employments (busy hands)… When people work, they have money to feed themselves…
This huge disparity amongst peoples (95 v/s 5%) is the harbinger of revolution. I recall what Napoleon said.. “It is only the fear of God., that holds the poor from killing the super-rich”. That disparity should not be extended beyond a limit., and taken for granted.
What we are seeing in India., (whether it is naxailsm or some other ism)., is basically the poor losing faith in the system.. They are willing to risk their life… but before they get killed, they want to enjoy a good meal… Desperation has reached those levels.
My guess is that all the opinion posted and solutions suggested here or anywhere, inclusive of comments, will be from the 5%. Will that make a difference ever to the 95%?
There is camouflaged materialism in desiring a financially equitable society. Pardon the banality but money can’t buy happiness. The 5% will realize this better than the other 95% so that they can evolve into the level of ascetics. A monkey does not need any money at all for his stage of evolution. Darwin didn’t get it completely correct. One blind man showing another the path.
was watching Deepak Chopra early this morning on ABC.com and his words og wisdom to mananage and live life during ression:)
Obama is not Shiva
Sorry but Bitter Truth …
It may take 3 or more years for him to get it
what went wrong this century …
how to fix, may/will be next step
I remember :
11-20-2007, 09:11 PM
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Last edited; 11-20-2007 at 09:15 PM.
USA heading for Major Slow Down – Reality
What went wrong this Year ?
This X-MAS will be snow cold…
Stores trying to sell but not enough buyers,
some are planning close or move to different countries.
…..
I bet it’s not like the Swiss Banks holds money of your politicians, but Belgium Banks. Swiss banks cooperates with police, Interpol etc, so it’s not always safe for politicians, but Belgium Banks are much more “reliable” if you want to keep your money out of sight of press/police/interpol etc.
Greets from Poland
G.
Eh hEh!
Thank You ‘Jaskiniowiec’
I must say…nice thought lol for the Goons…
errrm you have an account there eh heh?
pssst u a politican?
Just joking huh…i just smiled reading your comment
Good Day
PSSst Jaskiniowiec
‘Greetings’ ‘O’ Earthling
‘Plutarian’
Interesting to note that some spirtual institutions, gurus, writers of repute are still trying to milk people for money, some even in the name of how to cope with recession!
I receive scores of emails daily on this count even though to most of them I can myself teach a thing or two. Pity to see their faces on TV channels, they seem in no way less than any politicians or capitalists…only a bit more subtle. Soon they may have to protect their money by guns…
“Obama gets it” no doubt, he is a nice man
YEAH YEAH …
I wonder if any politician ever gets it …
Candidate Obama vs. President Obama ?
Just a simple example, think for yourself …
Obama says immigration overhaul still needed
(focus is only illegal immigrants …)
president said the nation must find a way to strengthen its borders while also giving about 12 million illegal immigrants a path to possible citizenship.
1/2 million Legal talented high tech workers waiting for green card for 10 or more years…
Pay taxes, Are Legal, and can Buy Homes, can start businesses but waiting… think about this and how it will help this economy
All because of Admin inefficiencies … now they are waiting for their Legal US born children who are more than 10 year old to sponser green card, what a joke administration, politics …
When i first heard, it hurt me and close friends, i spent time talking to people for weeks and managed 1200 letters, sent to Mr Bush admin and results were 1 year to 2 year EAD, small step to help such large suffering community, which is helping build America …
Lou Dobbs and the likes are misleading innocent Americans, making life harder by negative news …
CAN SOMEONE DO ANYTHING ABOUT IT
Its a matter of time, once the world understands Obamas motives the narration will then read – did he really get it?!:)
I had posted about Swiss bank issue and lot of people have same opinion . I have a question to all that if the rules change and trillions and trillions of dollars parked by ill gotten means is taken back and redistributed as such to people of India will the standard of life chnage instantaneously ??
No papaer notes (currency)is just a tool , the real need for India is a cultural and social awakening where the morality/humanity/thought process is as high as seen in heoric/fairy tales .