Dr.Ben Bernake's Economic--Drug Therapy; Use it and suggest others to follow the leader:

Praises Asian Countries for their economic Bullwarks:

From Suman Mukherjee's desk

Dr.Ben Bernanke, the Chairman of US Federal Reserves, talked of enforcing some bitter prescriptions to iron out some global trade imbalances; which may not be liked by most of the Americans.

“The United States must increase its national saving rate,” he said.

“The most effective way to accomplish this goal is by establishing a sustainable fiscal trajectory, anchored by a clear commitment to substantially reduce federal deficits over time.”

US and Saving??!!

Are you joking Mr. Bernanke ??!!

Do you want to make US another Japan!! Lol....

But then jokes apart, this could be the effective panacea, coming from an expert on economic depressions world over to lower, America's foreign indebtedness.

Speaking at a conference of the Federal Reserve Bank of San Francisco, Mr. Bernanke said Asian countries had bounced back from the global recession faster than the rest of the world and had become the engine of the global economic recovery.

“By and large, countries in Asia came into the crisis with fairly strong macroeconomic fundamentals,” Mr. Bernanke said, and noted that countries like China, Japan and Korea had fought the downturn with aggressive stimulus programs.With the Asian economy expanding at an annualized rate of 9 % the second quarter of this year, and Chinese economy expanding at rates of more than 10%, Mr. Bernanke said, “Asia appears to be leading the global recovery. "Kya Bat Hai doctoji!!"

Meanwhile the dollar has dropped sharply in recent weeks against the euro and the Japanese Yen, which has helped increase American exports by making them cheaper in some foreign markets.

But what is alarming is that the dollar has not budged in more than a year against China’s renminbi, as the Chinese continue to tightly manage and which many economists say remains greatly undervalued.

Futher, Dr.Bernanke, called upon the Asian countries to rely less on exports and more on their consumption at home for their economic growth. However, I would like to see some specific suggestions ONLY for India without clubbing it together with BRIC countries.

Conclusion: We stand among the falling débris of econmic thunder-storm. What is important to note is that, the trust on the US banking system is rising fast and capitalism expanding.

However, no economic, industrial, social and cultural system can endure long which is based on the fact that 20 per cent of the population, conservatively speaking, own seventy per cent of the wealth.

Thus the system aberrations needs to be corrected fast so that futher economic catastrophes can be avoided.

Chaos gives birth to dancing stars only if we breathe into it that visible, audible fragrance of passion, which is poetry. It seems the world will be born again by rune, spell, incantation and evocation of our latest poet, in economic landscape, un-polluted by Nobel baggage, Dr.Ben Bernanke.

Moreover, it remains also to be seen how the world economies open mental windows, pushing back "cold-horizons", revealing new Heavens and lead us back with a fresh vision to conquer the "Economic Eden" once again.

Jai Ho!!

Vijayi Bhavo!!