One issue that has been bugging me recently is the constant preaching by some economists in the media that the only solution for the current crisis lies in the relaxation of lending rules by the banks. But isn't this excessive lending which brought about this whole crisis in the first place?
Why do you want people to take more debt? So that they spend more than their means? So that the economies of their countries 'grow'? What kind of growth is this which increases the income divide in the society whereby the rich get richer & poor people get squeezed further? I really don't understant this whole growth model when all it does is make thing exhorbitantly expensive & out of reach of most people in the society, unless of course if they have enough bank loans & credit cards. Isn't this a modern form of slavery? The whole issue reminds me of the Pied Piper of Hamelin story taught to us in schools.
Is it really impossible to have an independent economic system, a system which has a minimum reliance on bank finance? Did all the great civilizations of the past achieve greatness with the help of bank finance? If the answer is no, why can't we implement a similar model today?
Enough dry talk, I know I am a boring person :-)
I know friends that it has been a long time since I last posted, but I am sure you would excuse me for my procrastination this time. I hear you ask, what's so special this time? Well, currently my life revolves around work, work & only work. And you know what, I work 7 days a week. I guess now you guys got the full picture. The only spare time I get is 'gratefully' spent in dreamland, but you know what, even dreams are also themed around work these days :-D
I guess enough blabbering. A big thank you to all the friends who missed my posts. May all your days be filled with happiness. And the rest of you who did not miss them, you know what, no comments :-D
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