Massive Recession Ahead As Govt'S Go Bust

[PAL 07]

http://www.bbc.co.uk/iplayer/episode/b014s7ml/Newsnight_13_09_2011/

[ladli-fauj]

same with US they said with the debit solution they had only temporarily solved the problem and really backed the issue to be handled for a couple years ahead

[HSD1]

Watch the rise of megacorporations and international companies when the power of central government goes into decline. Instead of being loyal to sovereign states we will have to be loyal to whoever pays us at the end of the month.

[ladli-fauj]

Watch the rise of megacorporations and international companies when the power of central government goes into decline. Instead of being loyal to sovereign states we will have to be loyal to whoever pays us at the end of the month.

that is true, the US govt is basically bribed and lobbyed by powerful companies, our food safety, food distribution and health care is basically run by corporations and what they want, esp during bush era, our healthcare laws are ruled by them, the one with money has the power, in this case is the corporations.... but like guru nanak dev ji says what God does is take those who are low and makes them high and takes those who are high and makes them low....everyone will get their change, and share =)...very soon

[osingh]

A lot of people are blaming conservatives for cutting back in spending, raising fees and whatnot.

People on the left are saying we should maintain spending, not cut back so much on services etc.

In my opinion, we should only spend money that we know that we will be able to pay back and not be overburdened with debt.

I have to say I am on the right on this particular issue. The government will have to cut back on spending drastically and maybe raise taxes. For me, we should take the pain now rather than kick the can down the road making the situation even worse. Still many major economies such as the US have not even begun cutting back on a serious level.

Governments and people (credit cards, loans etc) have spent money over the years which they never really had and built up massive debts. This was irresponsible and now it seems the whole world will have to pay the price. Bar India and China, major economies will have to go thorugh the process of deleveraging (cutting back), people will have to make to with less.

People have to realise that the government is bust. The future will only get harder in economic terms, however as Gursikhs we do not love maya, this world is just temporary, we should meditate on Naam and Gurbani which is the true eternal wealth.

Rare are those who have discovered the real wealth, Gurmat Naam and Gurbani.

Rabb Rakhe

[JasSinghKhalsa]

Alas a topic without arguments on Inter/Intra-religious clash :lol2: (Mehtab Singh's pinned down post is going to have an effect for at least some time).

"CASH is KING".

Bottomline is - Let BANKS / countires on the verge of "DEFAULT" - "DEFAULT". Saving them is of no help.