Depending on whom you talk to about the economy, global imbalance, world markets, Oil prices etc you will get to hear stories that are horrifying.
They are usually filled with emotions than substance.
Lately I had been meeting more and more people who seem to feel the economic distress but are not able to understand what exactly is going on? How we got here in the first place? how US will bail itself out? and what this $700 Billion Dollar Package will do to the economy?.
Now ignorance leads to fear and fear invariably leads to panic, we all know that.
Here is a video that my brother-in-law forwarded to me about three weeks ago. I do not agree with everything that Mr Venkatesh has to say here, but I am not an economist. I am not endorsing this video nor I refuse to believe the pessimistic story it paints.
Mr. Venkatesh has a passion for what he is talking about. He is sincere and certainly has some good points. He also acknowledges there is no quick way out. He argues that all the best economists in the world get together and find a solution to this problem.
Thats my Disclaimer. Watch this video for educational purposes only and do share your thoughts here.
Did I say this thing is going to be simple :)-