India: World economies stand in front of the largest ever depression ...

[NVMojo]

World economies stand in front of the largest ever depression triggered by hyper-stagflation – stock markets ready to slide over the cliff

August 21, 2005 Editorial

The go-go economies of the world have produced bull markets never seen before. Even the US economy keeps going up based on borrowing and dilution of loan underwriting principles. Indian and Chinese economies are going north relentless by the incoming Foreign Direct Investments as companies in the West have given all hopes up of producing goods and services in their own countries.

The basic materials and commodities have gone up in prices by more than 60% in the last eighteen months. Crude Oil price has more than doubled in the last twelve months. India and China has subsidized the oil prices to their own citizens through the use of state run oil companies. Indians and Chinese population (more than 60% of world population) never really curtailed crude oil use because they never faced higher oil prices. Car companies are selling more cars in China and India than the rest of the world. India and China are also experiencing ballooning debt – the concept borrowed from the West.

Finally real estate – oh boy! That is another saga – the hot balloon of the millennium. Common people all over the world especially in the United States have bought all real estate they could buy on debt. The prices have gone up vertically - doubled, trippled, quadrupled .....

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http://www.indiadaily.com/editorial/4296.asp

[wli]

1. direct consequences of Republican economic sociopathy n/t

[klyon]

2. yes capitalism at its finest

How many times will this country and now the world pay the price of capitalisms excess. When will we learn you can't get something for nothing? There is no such thing as free lunch, it's pay now or pay later. It is time to pay up.

KL