"We trust that you will avoid using harsh language and will refrain from making unsubstantiated allegations against individuals and firms. Your constructive feedback and opinions are very valuable to all of us in the industry. "
recession is very painful moreso depression. The article shows the reasons, but the reasons are always different in its manifestation. globally there is a danger of depression, especially in the western world. Their model was built on consumption and then more consumption, which is anyway not sustainable. Pls note that we need sustainable investment, green consumption, adequate level of consumption and not sleazy, showoff, resource driven consumption. Our old Indian economic thought was to spend adequately and preserve nature and its resources. We used science and forward thinking to remain prosperous and difference between haves and havenots was at the minimum. Exploitation was not encouraged. We do all that now in the name of development. We will pay for that. Hope the painful period does not last as the last depression. But there is a 30% chance of a 5 year depression.
very good explantion our economy is great ,high potential to grow political leaders donot understand economics nor they allow economist like RBI to think independently political leaders are influenced /misguided. our economy is/will remain on expansion mode if present present rbi governor and his team is given free hand rather VETO POWER ON ECONOMY