We fear and we are scared !Is this something we created and were proud of.Our fundamental notions of interlinkages between democracy and capitalism seems to have suffered a body blow.
Volatilty seems to have escalated beyond all calculations.We are stranded at the cross roads and we do not have the answers.
We hear financial experts denounce the capital market systems and question whether real economy should be led by the financial markets.Thats a convenient scapegoat-the finacial markets!I like Singapore for only one reason.They anticipate.Much before 1997 they punctured the real estate boom by introducing taxes on realestate transactions.So when crisis hit the SE Asia in 1997 there were very few red faces in Singapore unlike the rest of SE Asia.
Offcourse theres good news!Inspite of the drubbing the world Economy has taken comes news that per capita income In India has grown to Rs38k.If India hadnt gone the Capitalist way we would been snailing along at 2% for the rest of our lives.And the world would passed us by!
Without financial markets-the real economy would be a non-starter.Simply stated nobody would quote a price.Barter system, anyone?The world is a better place, only we need better system to defues booms.Longer the boom,bigger the bust.
Look at the opportunity.There is no better time to start!Look for cheap assets and build your billion dollar enterprise now!Buffet and I are just about even.He probably swung down by a few billions.We are that close in wealth!
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