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Wednesday, November 19, 2008

Witnessing the Turmoil

No doubt the global financial turmoil has been the latest topic of interest along with the American battle whose results were influenced largely by the turmoil. I had merely heard about the great depression of the 1930s, but experiencing the recession this time from a corner of earth not associated well with the global economy has proved really exciting. Whether Obama will be burdened by the heavy expectations at bad time or he will repeat the magic as during the polls is still to be seen. So long as the price of oil keeps dropping easing the inflation in Nepal we won't have that much to worry .

I am eagerly waiting to read how the free market think tank Thomas friedman and his equally qualified opponent Noam Chomsky would react to this circumstance.

The fact I discovered this time was that even the executives and the policy makers of the globalized world are still in process of learning how the markets work in the complexly interconnected world. The prediction and assessment of the unfolding turmoil was done in so many installments that eyebrows were raised at the IMF when it had to revise its estimation for the growth of US economy in less than one month. No wonder then that we are often puzzled by the developments in the economies around the globe.

Though the communism has not much to celebrate this time unlike the great depression of 30s due to its absolutly diluted influence, the regimes directed to socialism like that of Venezuela , Equador and Nicaragua could now be in a much favorable position.

Finally it is to be seen whether Obama dares to keep his promise of change by dismantling the inhuman policies of the Bush era like the sanctions to Cuba. At least he has now got the chance to stand the trial at the highest position with the goodwill of people worldwide. To pass it or not will, of course, depend on how he performs.

1 comment:

Indra Dhoj Kshetri said...

It was a short and sweet update about the current global crisis. Keep it up.

विजय कुमारको खुशी पढेपछि

जीवन, खुशी अहंकार

जीवनमा अफ्ठ्यारा घुम्तीहरुमा हिंडिरहँदा मैले कुनै क्षणमा पलायनलाई एउटा विकल्पको रुपमा कल्पना गरेको थिएँ, त्यसलाई यथार्थमा बदल्ने आँट गरिनँ, त्यो बेग्लै कुरा हो त्यसबेला लाग्थ्योः मेरा समग्र दुखहरुको कारण मेरो वरपरको वातावरण हो, यसबाट साहसपूर्वक बाहिरिएँ भने नयाँ दुख आउलान् तर तत्क्षणका दुरुह दुखहरु गायब भएर जानेछन् कति गलत थिएँ !

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I do not know why I often tend to view people rather grimly: they usually are not as benevolent, well-intentioned and capable or strong as they appear to be. This assumption is founded on my own self-assessment, though I don’t have a clue as to whether it is justifiable to generalize an observation made in one individual. This being the fact, my views of writers as ‘capable’ people are not that encouraging: I tend to see them as people who intend to create really great and world-changing writings but most of the times end up producing parochial pieces. Also, given the fact that the society where we grow and learn is full of dishonesty, treachery, deceit and above else, mundanity, it is rather unrealistic to expect an entirely reinvigorating work of writing from every other person who scribbles words in paper.

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