I had a talk with one of my friends, a top-notch banking official...who pointed out a very significant fact : the relative insularity of the Indian nationalized banks, and more importantly, the Indian economy. He was right in saying that "sudden mindless liberalization" has led in the past...to the collapse of some S.Asian economies. Indonesia is an example.
Yes, Indian markets are protected due to this factor..but there are other severe risks we run..like scarcity of oil production, rapid percentage of population growth (especially the younger generation that would be consuming at a higher rate)....but that is later. Ki Bolish re...boshe discuss korte hobe toder 3 jon'er saathe. Ar Gabon'er contact'tao dish to...(jader kache auto-forward korlam)
The Global Economic Meltdown is inevitable , unless these steps are taken :
- Alternative Energy Sources are found. A huge chunk of money has to go into the R & D of this.
- We all talk about individuals should learn to conserve oil...but in real life..ask yourself the question - how many do ? And can you check it ? So what must be done is a strict check should be put on the oil companies..their startegic mergers and demergers..so that the gasoline price comes down.
- Sub-prime lending to dubious companies is not stopped.
- Loan recovery has to be stringent.
- Loans are given to publicize a bank. Let this publicity be curtailed. A person in need of loan is tempted by the glitzy advertisements...nowadays every second person I know has taken a humongous amount of loan...
- A country's loan !!! How could the U.S. ignore stalwarts like Warren Buffet, Soros...their warnings..I wonder ?
- War Economy will continue..it is inevitable..as far my prediction goes..so one should follow Japan's genius Macro-Economic Strategy of Forex and Bullion Reserve.