History bounds to repeat itself, if we don't learn from our mistakes! What is been feared so long is happening. The G20 meet was a failure in the sense for the welfare of the company. The same mistake committed in 1930s, pulling back the expansion even before the economy was stable is being repeated again! Neither Obama was able to convince his fellow senators, nor the big heads of the nations were willing to hear the wise advise of Dr. Manmohan Singh. A positive news is that the taxing the banks was put on hold. But considering the austerity measures of the governments headed by Germany, and the mis-informed LEI figures of China and high unemployment rates of the western countries, we can expect another depression bigger than the Great Depression. But why should this be much bigger than the previous ones? The answer is obvious, the damage one suffers while falling from a peak is proportional to its height. Given, the extent of leverage we enjoy today, the fall of dominoes will have far reaching consequences. The stock market has already expressed its pessimism over the government policies. Hope the leaders sense this and correct their mistakes fast.
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