DROWNING FISH
What is now proved had been imagined!!
When asked why evil exists in the world it was wisely answered 'TO THICKEN THE PLOT' the same could be said of recessions.Recessions are the jerks that add not only pain & depression but set the stage for reform and revival.
In economic life happiness is relative not absolute, what matters is not what you have but what you have relative to those around you and this phenomena is world over. In an early 2011 GALLUP poll that asked Americans to identify the world's leading economy -52% said China and only 32% cited The United States- an astonishing mis-perception. China's economy is still a third the size of U.S. economy. Because of socioeconomic randomness there is no such thing as a typical failure or a typical success there are highs and lows but nothing as victory or catastrophe. No one can pinpoint the exact mix of reasons why nations grow or fail to grow, there is no magical formula only the long list of known ingredients.
'Consequences of letting heart rule the head'- Recently break out which took the world by storm is 'Brexit' which seems to be an indication that ' red lights are flashing on global economy' therefore lot is being spilled, lot is spontaneous and and lot is at stake too. Globally if we observe world is going thru shortage of political & economic wisdom of unparalleled proportions.How will developed nations and emerging countries cope? With European union break out it is a widespread chaos and fractured relations on the floor.However it is strongly felt for its own benefit - U.K. has to sort out domestic and as well as external convulsions. As it leads to political dy-function with E.U. simultaneously it is further fueling economic downturn to current global recession. In U.K. it is being anticipated a certain financial instability will take its way which may give space to greater isolationist policies and may further lead to inequality of income & wealth. Most Importantly employment opportunities are future challenges for the country to grow.
'Not all trees grow to sky' - To adopt common currency of the Eurozone in order to gain access to new markets E.U. true to its form has been focused less on the demands of dynamic growth than rather ensuring stability for newcomers to join. E.U.wherein membership criteria are fundamentally centered on building institutions than building dynamic and robust economic policy for themselves to ensure sustenance. More than 60 years old E.U. experiment in continental partnership which has opened national borders for free internal flow of materials, goods, people etc is now widely viewed as a fading & failing union majorily because debt crises is threatening E.U. Europe has never faced before, disruption and challenges that it has faced in last couple of years. E.U. bureaucrats have to offer solutions to their member countries & if they are incapable as many have started assuming this is first crack in the wall after Brexit slap. Guesses are , eventually Europe may divide itself into much more relevant marketing groups with similar cultures. European Union is at major turning point which may change the face of Europe & global economy.
'Referendum is Democracy' - Still there is a widespread belief that political system matter for economic success. That is what happened in Brexit case. Now Brexiteers and Remainers both have role to play in building or giving shape to their country and thy have no option but to work for social stability and economic miracles. Referendum is an underlying fact that they have helped to empower the most desperate people in the country at a time where discrimination is the only recognized outlet for the working class and that includes young people, disabled people, migrants and the great ordinary citizens.Moreover exactly how bad things could get for 'workers rights' outside the E.U. . If working time protection is scrapped i.e. 48 hrs then Industry bosses will be able to force working class to work more than 60 hours week. Regularly working excessive hours is a big health and safety issue for companies its an serious occupational hazard. Therefore it is being voiced strong engagement has to happen with new government,business community and trade unions. The past is a foreign country, they did indifferent things there.But the future is ours you can do things differently to make a different country.
Disrupted Developments - It was strongly felt some years back with so much of technological advancement world was to become flat rather world is beset with chaos and instability and economies are becoming flat. If this is the way the Eurozone is splitting and already oil crisis is on then is it not global economy is 'teetering on the brink of third recession' ? it looks that these are enough indicators that more im-probables and unthinkable are becoming realities. Where are finance or economic regulatory system or risk sustenance systems or so called political leaderships? at the moment it is so reproachable.
Recession plot has become really thick almost from the brink miracle has to happen for resurrection. It is only hoped challenge is challenged, change is changed for better and new normal is an horizon which enlightens & engages with new highs.
This article/post is personal. The views expressed here are of the author and not of my current or previous group companies i have served & are not intended to harm or malign any group or individual.