Global Economic Recovery?  

poetdancer 6/27/2009 11:03 am Last Read: 9/8/2009 1:58 pm	India and many parts of the world are emerging stabler than America economically. Unfortunately, the American economy affects most of the world. The recent American upswing is a speculation bubble floating on artificial bailouts and presidential noises toward superficial change (masking a lack of fundamental change). The current upswing has no solid foundation. It will not last. The bailouts and unnecessary wars have squandered our resources that we could have used for creating jobs and rebuilding our infrastructure, schools, training programs, hospitals, and social services, etc. So these foolish expenditures will result in a worse depression soon. The majority of the powers that be will try to get out of the depression by creating a war, instead of by rebuilding sound foundations for a real economy. They will demonize some country, likely Iran, as an excuse to attack. War is big business, profitable for a few, devastating for most. It allows some of the super rich to get richer, but makes most people poorer. Meanwhile, global warming is wreaking havoc on climates, water supplies, food supplies, storms, rising sea levels (that are swamping or salinizing coastal areas), and the general economy. Though we have the science to slow down global warming, and many people are working hard to do so, most governments and large corporations are only pretending to do much about it, but are in fact, for the most part, rapidly making it worse. Unfortunately, American foolishness and lack of ethics affect most of the world. America became prosperous (and powerful) because of productivity, relatively wise and sound planning, investment in infrastructure and public services, and at least some degree of generosity, fairness, and ethics (in some ways if not in others). But during the last 20 or 30 years, the American economy has shifted from production and savings and some degree of practicality, sustainability, fairness, and ethics to convenience services, mergers, restructuring, speculation, borrowing, consuming, making money with money (instead of with production), spending on credit, neglecting infrastructure and public services, and throwing sustainable planning and ethics out the window. Unless these fundamentals are corrected, there will be no substantial American recovery. So the rest of the world would have to rebuild its economy without robust participation of American markets or investments. That might be good for long-term stability, even if stressful in the near future. Fortunately, there are many individuals and groups all over the world, including in America, that are building a sustainable, ethical, genuinely productive and efficient economy (though the mainstream news media don't report it), while many elements within most governments and within many large corporations continue to squander and oppress. What are your thoughts and suggestions? (Link to BegumMagnolia's group: Intuition ~ Our Inner Voice.) (Link to my group: Arts & Artists.)
gemini369 Ask me for a photo 1000 posts  6/27/2009 10:04 pm	You are very right Mr. PD. It's American vandalism that created lots of problems to the world after second world war. The profit mania and greediness of American corporations lead to this slow down affecting a number of countries. Even after taking assistance from US Govt several Banks are offering hefty bonuses and incentives to their executives shamelessly. Indian stability is also a myth. Slow down dawns slowly in India. All hefty loans given to software personnel are turning into Non - Performing Assets slowly. Exports have dwindled. Job cuts became a routine thing. New jobs aren't coming up. For a post of clerk in PSB 300 aspirants are competing! India isn't shining. Only hope is Dr. Manmohan Singh. That's why people gave him their support in this hour of need. Let's hope for the best.
poetdancer 297 posts  6/28/2009 9:22 am	Gemini, yes, true. The stimulus plans implemented so far by the US government are mostly temporary stopgaps to prop up irresponsible nonreforming financial institutions. They are not effective responsible fundamental corrections or contributions to the real economy of production, or to infrastructure or human resources. We need to think of real wealth as potential sustainable survival, not as transforming real assets into ephemeral cash by squandering them and destroying the viability of our only planet home. Let's continue to coax our governments toward realistic reform, but let's also get busy bypassing them and creating for ourselves what they seem incapable of doing for us. This two-pronged approach is most promising. All countries, corporations, ethnicities, religions, and other groups are composed of many diverse individuals and subgroups. A country may appear schizophrenic because of the diversity of individuals and groups within it. For example, America, or more precisely, individual Americans and groups of Americans, have done much good and much harm around the world. Sometimes even the same individual, as Obama, does both good and harm, especially if they are pulled by various forces and powers behind them. The same things can be said of the UN and other international organizations.
gemini369 Ask me for a photo 1000 posts  6/30/2009 8:22 am	You r very true once again dear friend.
poetdancer 297 posts  6/30/2009 11:21 am	Gemini, thank you. I enjoy reading and learning from your insights.