Global Economic Meltdown ...how I saw it coming...and steps that can be taken

I have this nasty habit of striking up a conversation with bankers, banking professionals inside the banks.

Starting from juniors, the freshers to the top- the Branch Head, maybe.

I do it just FOR AN INTELLECTUAL EXERCISE - to understand where our / global economy is heading.

It always follows the same pattern : first the freshers start....they try to "sell" me a scheme..this scheme - it's good for you..on the "long run"...I always LISTEN. I'm a good listener, one of the best.

After 5-10 minutes, I start contradicting them.....start pointing out the flaws.

It's then that the horrifying facts come up....
MAINLY I HAVE GATHERED THESE FACTS FROM THE TOPMOST BRANCH MANAGERS..etcetera...I will always keep their identity secret.

The horrifying facts of

• THE CRUDE OIL PRICES FORCING THE BANKS TO LEND FAR,FAR,FAR ABOVE THEIR CREDIT LIMIT TO THE OIL COMPANIES....
• HOW INTEREST PRICES CANNOT BE RAISED..."THE BANKS MIGHT FAIL...if we don't raise the interest prices !!!" - one top-notch Banking Official said. I understand. But who will convey the complex message to the masses ?
  
• THE SUB-PRIME LENDING THAT THE BANKS DO....IT'S DIFFICULT TO UNDERSTAND A PERSON/COMPANY'S PAYING-BACK CAPABILITY
• THE NPA's (%-wise)
  
• HOW INFLATED THE STOCK MARKETS ARE...I ask them and get strange answers - the SCHEME/FUND/STOCKS THEY THEMSELVES WERE TRYING TO SELL...they DON'T HAVE IT IN THEIR PORTFOLIO ! THEIR OWN PERSONAL INVESTMENT PORTFOLIO !!

And so on and on......

But I believe there are some ways out of the GLOBAL ECONOMIC MELTDOWN.....THE WORST IS YET TO COME...ALL SAY...there will be UPSWINGS....but THE WORST IS YET TO COME....

Obviously . all those high-paid MBA's have failed...they are brilliant students...but THEY COULDN'T THINK OUT OF THE BOX !!!

That's why we are having this ECONOMIC SHAKE-UP....

...it's just the TIP OF THE ICEBERG...believe me....

Disclaimer : I keep changing my auto-forwarding list so often....sometimes in a hurry forget revising the names...hope this doesn't reach the wrong person....hope you go through all my blogs 'n' enjoy the new look