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Wisdom at the barricades

Barack Obama, the charming, charismatic and celebrity president of the United States, is going to experience something very different from what he is used to when he arrives in London for the G-20 summit. The man used to large crowds of adoring and passionate supporters is going to drive past (  ....Read more

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CautionBy: Raj Bhadra Singh | Wednesday , 1 Apr '09 7:43:26 AM Reply | Forward It is time commentators absorb the uncertainty of times and stop peddling theories with an implicit assumption that what has gone wrong in past one year is due to excesses of certain institutions and individuals with no bearing on the underlying ideology. These are dangerous times where the need of the hour is to be more circumspect and prudent. It is time to wait and see how things unfold and react to action other nations are taking. Liberalization and reform of past 15 years had been sweetened by the unprecedented expansion in global economy, fueled by the very financial institutions which are now faltering. “Liquidity factories” created by these institutions are now dysfunctional and the impact this crunch will have on growth, trade and policies will be known in coming years. Offering suggestions based on experience of past 15 years seems to be premature, when far more renowned “experts” are questioning there recent assumptions and going back to depression era to look for answers.
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