The stock market is down and with it many people financial wellbeing including mine:(. Warren Buffett is reputed to be buying as he see this as buying opportunities. He know the right shares to buy. I do not have his prescient capability on stock pick.
With this downturn, the global economy looks shaky in the immediate future. This time the crisis is different. QE or quantitative easing i.e. printing of money and pumping them into the economy gave the global economy impetus to recover. However, this time America is more or less bankrupt. A small group of tea party members force the stalemate in the debt negotiation with Obama. They insisted and won on no tax increase. So the rich pays much lower tax than middle class Americans.
The Dean of LKY School of Public Policy, Kishore Mahbubani lament the lack of political leadership in the West and China and India is too busy with internal affairs to deal with global issues. I pray for the world to get healthy again.
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