Where went all the money?

All the hype has been burst. There is no light at the end of the tunnel. Worldwide the stock market is continuing its avalanche. The common man who was the last on receiving the so called policies and booms have been the first to receive its blows. The billion dollar companies have become of hundred dollars. Where went all the money?

When the left were warning about the hyperactive role of speculative capital, the comman man or ignorant people went on the spree to gain short term benefits. They failed to understand that if someone has to gain, someone has to lose and no one wants to loose. It was destined to meet the dead end and it was met.

It is not the problem of theory, not the problem of ignorance which is natural in its character because wisdom doesnt come spontaneously, but the problem of the leaders, economic and political who were at their best intelligence to use this hype and false appearance to mislead the people and to put them in misery.

In the name of the solutions, they just tend to complicate the problems, whose roots they never tried to understood when they were on their buds. Even when the companies file bankruptcy, their CEOs relentlessly acquire their compensation assuredly before leaving when thousands of employees of that company become jobless overnight without any security for their food, shelter for tomorrow.

So the financial events unfolding nowadays worldwide truly exposes the character of these 'so called leaders' and proves once again that the people can afford to be complacent and ignorant, wherever they may be living in this world, if they want real security.

In Mumbai joining a global equity rout on worries about a sharp global recession, domestic indices fell to their lowest levels in nearly three years on "Black Friday" as the benchmark BSE 30-Share Sensex tumbled by 1070.63 points to close at 8701.07. On the eve of the diwali, this was the worst possible ending in recent years.

Sharp losses in New York, London, Europe and the Far East raised the spectre that governments may be forced to impose emergency holidays to avert a meltdown across world stock markets.

Traders largely ignored new optimistic data indicating that America's housing market may be heading for a recovery. They also ignored a slight easing in most benchmark Libor rates, which reflect the cost of borrowing money between banks. Traders in London were spooked by new data showing that the UK economy had slowed far more than expected during the third quarter of the year, stoking fears that Britain is on the brink of a protracted recession.

Britain's economy shrank in the three months to September for the first time in 16 years, all but confirming that it is now in the grip of its first recession since the early Nineties. Bleak official GDP figures showing that national income plunged by 0.5 per cent in the three months to the end of September, in the sharpest drop since the end of 1990, revealed that the toll from the credit crisis and housing crash has ended Britain's longest unbroken run of quarterly growth since at least 1955.

All countries take billions of money from the taxpayers' bourse and inject into the credit market. While this rescue plan gives some hope for some atleast, already there is rift in how the money is spent among different financial heads. While Henry Paulson and Co. invests on risky bonds and bubbled assets, the europeans lead by British invest in Credit capitals. Now within few months of his adventure deeds, Henry Paulson says his action needs some correction.

Anyhow what does it mean to common man? The solutions do not give bright hope as it seems to give. The fact that people dont believe in such empty promises has been reflected in the continuous tumbling of world stock indexes throughout the world.

Only God may save, if he is not as complacent as he was in the recent past.

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The world demands a new global financial order

Cricket: Does the defeat symbolise the end of Australia's dominance of world Cricket

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