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--- Begin Message ---
-Caveat Lector-
Problem is that the American economy is tailing spinning into a major
depression and that is going to drag India down to the mud. The
overcapacity in India with young generation ready to work for TCSs,
IBMs and Microsofts will never be used due to depression in US
economy.
 
 
What will happen to India when American economy collapses due to fiscal mismanagement

Sanjeev Gurnani, Special Correspondent
August 11, 2004

India may suffer unnecessarily if and when American economy
collapses. The downward spiral may have started with nasty
stagflation.

The stagnation in America comes from lack of pricing power, excessive
borrowing, sky rocketing fiscal deficit, war expenses and Federal
Reserve Bank's mismanagement of fiscal affairs. 

How will that impact India? When you finish reading this article, you
will feel bad. India had an underdeveloped but self-sustaining
economy with very little borrowing from the ordinary citizens.

Something went wrong in early 1990s. In the name of liberalization,
India imported all the bad stuff from American economy.

The freely available credit, ballooning budget deficit, trade deficit
accompanied imported outsourced jobs. Americans are eager to use
Indian brains but wants to pay only five cents for dollar worth of
job. India's local Governments opened the doors thinking several Bill
Gates will make them rich over night. In the process India bought
billions of dollars from these Americans and hardware is useless
anyway by this time. Buildings and cities have been built with
overcapacity looming everywhere. Young kids have been told to learn
only computers because Americans are going to sell oil from Iraq,
make a lot of money and bring truckload of jobs into India. If
American economy is ok, there is no problem.

Problem is that the American economy is tailing spinning into a major
depression and that is going to drag India down to the mud. The
overcapacity in India with young generation ready to work for TCSs,
IBMs and Microsofts will never be used due to depression in US
economy. US fiscal mismanagement actually started in mid eighties.

Ronald Reagan did win the cold war but at the cost of sacrificing the
best thing US had - Social Security. Things changed in Clinton days
due to Internet boom and Year 2000 Computer scare which never really
materialized. In the mean time, Bush Jr. came to power, 9/11
terrorism happened and US economy started moving downwards.

At this stage, Bush and Federal Reserves Green Span converted America
into a welfare country.

When Air lines could not run their business, Bush gave them billions
to survive and move on.

Interest rates were lowered to almost zero. Cars were offered to
public with no interest installment loans. People could buy homes
with interest only loans.

Income tax was reduced so that rich can spend more and pay less tax.

Every American company today depends primarily on Government
contracts to pay their bills. America went into Iraq so that American
companies can make a lot of money from Iraqi oil money contracts. But
nothing finally is working.

Americans borrowed in billions from their home equities and now does
not know how to pay them off.

People are making less money, losing good jobs and taking low quality
jobs with one third pay and no benefits.

People are still ecstatic about America and the economy. These are
signs of a major topping of an economy for a long run scenario. This
depression may go on for as long as thirty years with dow reaching as
low as 1000 or even less.

India has positioned itself to shoot in the foot as American economy
collapses. Two thins are going to happen. First, American companies
will not have money to pay Indians. Secondly, America will change and
outsourcing and free trade as we know it today will come to a halt.
Inter country bartering system will eventually start that will
eliminate all trade deficits and trade surpluses. America will
enforce patent laws and India will have to follow the same. This will
cause a lot of problem for those Indians dancing today thinking
heaven is waiting for them in the planet of outsourcing.   





Please let us stay on topic and be civil.-Home Page- www.cia-drugs.org
OM



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www.ctrl.org DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply.

Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at:

http://www.mail-archive.com/[EMAIL PROTECTED]/ <A HREF="">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED]

To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED]

Om


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