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SADASHIVAN
Joined: Jan 26, 2004
Posts: 21
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Country: India
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What really has cooked the world economy and layoffs?
February 8, 2009 - 01:27 PM
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Major portion of the world live in poverty. Unequal distribution of economic growth led to limiting purchasing power to limited people in the world. Whereas number of industries grew created heavy competition to attract limited number of customers by tempting with number of risky incentives and facilities.
Growing competition among bankers and builders to grab more and more customers, on artificially escalated cost of land and homes, without scrutiny resulted defaulters.
Corruption and greed for fast bucks prompted unproductive investments for artificial price escalation of housing and essential commodities. Living cost of human became expensive. When fuel and food prices shot up unbearably started to reverse.
Lapsed regulation and control over functioning of financial and industrial sectors eased them to go as they wanted.
Excessive Government expenditure to manage home and world to soar Government borrowing. Non-productive heavy government borrowing disturbs productive, private investments to slow down economic activities.
Excessive capitalism is curse to any country as country economy is molded by capitalists to favor them. They have power to corrupt politicians and bureaucrats. Election systems too are hazardous as becomes self interest to get elected though may be by funding by capitalists.
Wrong leader means wrong decisions that devastate economy. In 6.2 billion world population we are still in scarce of real leaders who understand people and their needs. Need someone to bring Socio-Capitalism to assist capitalism and work towards society too.
Growing international competition declined own exports to world and production and services causing loss of job opportunities.
Free market mainly benefited to multinational companies who widened their wings to most of the world but for small and medium set ups was the time to close down due to high cost of production against imported one.
Flooding cheap imported goods and services trims own employment opportunities. Loosing jobs is loosing country productivity and movement.
Major Asian countries economy and development relied on exports to rich countries. They failed when rich failed. Whereas own country people suffered scarcity of basic commodities. Managed GDP with limited urban population.
Rural population remains neglected or forces migration to urban cities. If development and investment done to rural economy, lot could have buying power to boost economy. Economic planning and investment based suiting urban and some rich industrials thus rich gets richer and poor get poorer especially rural lots.
http://www.sadashivan.com/distressingfacts/id8.html
This post was edited on: 2009-02-24 at 07:00 AM by: sadashivan
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SADASHIVAN
Joined: Jan 26, 2004
Posts: 21
Poster Rank:
Talkative
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Gender & Age: Male, 55
Country: India
Province/State: Delhi
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Las Vegas stripped by deep recession.
February 24, 2009 - 06:59 AM
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World market center once was packed did not bring crowd this time. with maximum number of exhibiting vendors failed by minimized visiting retail customers. Customers visited other parts of US, & neighboring countries gave negative signs. Many deals ended up in heavy bargains. The show however, did not turn up as expected. Many commented “O! Boy no homes no home furnishings.” Small industries and shops would wind up.
Mange to put full stop on excessive escalation of housing cost so housing become cheaper so each house has new home furnishings bought in new affordable houses.
Actual bailout needed for small and medium textile sectors so can survive this crisis. An incentive program on made, as this sector consumes more employment without special skill.
Research and education in agricultural sectors so fullest utilization and consumption is achieved even from the agricultural waste.
My chat began with different subjects but finally ended up in mortgage crisis. But none realized mortgage was not the real culprit rather lack of buying power led to crisis. "O! Boy Life in US is gonna crazy V low income will end up crazy, income slashing 30-40% down “Wanna bailout for safe life.” “We have many layoffs and closures. Unemployment is real hell we need to get out of it.”
Solutions are to handover money to the citizens and ask them to spend on non essential luxury goods and give record and save tax. Demand of essential commodities does not decline that fast as on luxary.
Housing prices will go on crashing until real value reached. Affordable Mortgage rates possible when housing values reach affordable. Keep check on speculators. Invent productive investment resources to avoid speculative investments.
Life of low income group is real hell. A woman in world market center, worked for a coffee vendor explained “I start working at 7am and end at 10pm. That’s not finish I sleep at 2 am because of my child.” Even then I do not get enough money to manage. Shows how competitive the labor market is? Is not the story of one woman alone, the entire low income group would narrate the same story!
Creating more jobs and resources are the only solution to put to an end to labor competition.
In Los Angeles many illegal immigrants working for cheaper wages eating away jobs. Incentive and disincentives for own population at work. Las Vegas music click and watch
http://www.youtube.com/watch?v=OCLoL2PS03c
This post was edited on: 2009-02-24 at 07:01 AM by: sadashivan
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