Everything was appeared good. until one day Lehman Brothers announced bankruptcy followed by the mighty buy-out of Morgan stanley by the BOA and the hell broke out. dont you think these kinds of periodic 'bubble bursts' are a healthy sign for the global economy? Well I, certainly do. If we analise the root cause of this turmoil, we get to know that the indiscriminate spending on the part of few individuals(read Americans) and indiscriminate lending on the part of few investment banks(read American again) has led to this disaster which is now threatening the entire world economy.
Lets look at how this all started. Indiscriminate credit-lending even to those with shabby credit scores started this crisis. Fall in the greenbacks value and corresponding fall in the US property market fueled it. people couls no longer afford paying back of the credit they had obtained and hence started defaulting. This put immense pressure on the banks and pushed them into the credit crunch. they could not sustain and eventually had to default or had to sell their stakes. it started with CITI, followed by Bear sterns and reached upto LB and MS.
Lets llok at the solutions.
One such solution mooted by the US governent is he mammoth US $700 Bn bail-out package. can this save the banks? yes it can. but the question is can this restore the investor confidence??? well no it can do so in immediate future. It can rather provide much needed relief to the traped investors that their investment stands a chance to returned back in principal not if the returns on it.
But this turmoil, as I belive, would rationalise those individual at mistake of over-spending their limits and also those who tend to learn from others mistakes that they canot sustain their irraltional behaviour forever. They, eventually, will have to come to task by selling whatever they have and to pay the credit even if it means they are rendered homeless. This, on the other part, will also serve as a very serious warning to banks that gravely miscalculated credit-lending can lend them nowhere but have themselves blown up.
That the 158 year old institution which can stand 2 world wars and disastrous recession cannot withstand the credit crunch says all abt the massive scale of the problem. The solution, if any, should also needs to be of the same proportion. Hope this gets sorted out at the earliest and does not thretens the on-slaught of global recession.
Thursday, September 25, 2008
Thursday, August 21, 2008
A story of the cracked pot
I have ever wondered why people specially in our part of world have loads of advices to give. probably they think they are the best ones and the perfect example of the mr. perfectionist. Anyways I was thinking about the shortcomings of me with comparision to few of the people I know. Many streams of vibrant but negative ideas kept my mind busy. This process, although slow, continued for a number of days. I can say I was in that paranoid situation where I compared each of my actions against a bunch of people and for my every action, surprisingly, I found that I had a shortcoming.
Just as my mind was about to resolve me as the most useless fellow on this beautiful creation of the almighty which we know by the name earth, this little but a nice story of a cracked pot happened to present itself in front of my eyes.
The story is of a water bearer who had 2 pots each hung on the ends of a pole which he carried on his shoulder. one of the pot had a crack in it while other was a perfectly nice pot. At the end of the long walk from the water stream to the house, the cracked pot would only arrive half. the other one would be full.
Of course the perfect pot was proud of its achievement and would look down on the cracked pot and the cracked one, just as in the defensive mind as me, would be very sad that he had a crack and could not deliver to the fullest capacity. This continued for a couple of years. one day, feeling it unbearable, the cracked pot told his master that it felt ashamed of his shortcoming and his master had to suffer on account of his shortcomings.
Hearing this the water-bearer asked to the pot that did he notice the flowers on his side of the pole? he said to the pot that he planted the flower seeds on his side of the pole so that on his way back to house, he can water the flowers. The water-bearer told the cracked pot that if it were not cracked, he could not have got the flowers which he uses daily to beautify his house.
So just as in this case, where the perfect pot was proud of his delivery to the fullest capacity but could not help other just for the reason that it was left with no spare capacity to help, I thaught that the people I compared myself to had accomplished few things but had nothing more to achieve else deliver on their so called perfection.
But for the people like me, not so perfect not so fullest, we are all like the cracked pots. Its the cracks in us which makes our life so very interesting and rewarding. you have got to take each person as they are and to look at only good in them. For being perfect means god but it also implies being bent into a shape left with no flexibility. As said
"Blessed are the flexible, for they shall not be bent out of shape"
God Bless.
Just as my mind was about to resolve me as the most useless fellow on this beautiful creation of the almighty which we know by the name earth, this little but a nice story of a cracked pot happened to present itself in front of my eyes.
The story is of a water bearer who had 2 pots each hung on the ends of a pole which he carried on his shoulder. one of the pot had a crack in it while other was a perfectly nice pot. At the end of the long walk from the water stream to the house, the cracked pot would only arrive half. the other one would be full.
Of course the perfect pot was proud of its achievement and would look down on the cracked pot and the cracked one, just as in the defensive mind as me, would be very sad that he had a crack and could not deliver to the fullest capacity. This continued for a couple of years. one day, feeling it unbearable, the cracked pot told his master that it felt ashamed of his shortcoming and his master had to suffer on account of his shortcomings.
Hearing this the water-bearer asked to the pot that did he notice the flowers on his side of the pole? he said to the pot that he planted the flower seeds on his side of the pole so that on his way back to house, he can water the flowers. The water-bearer told the cracked pot that if it were not cracked, he could not have got the flowers which he uses daily to beautify his house.
So just as in this case, where the perfect pot was proud of his delivery to the fullest capacity but could not help other just for the reason that it was left with no spare capacity to help, I thaught that the people I compared myself to had accomplished few things but had nothing more to achieve else deliver on their so called perfection.
But for the people like me, not so perfect not so fullest, we are all like the cracked pots. Its the cracks in us which makes our life so very interesting and rewarding. you have got to take each person as they are and to look at only good in them. For being perfect means god but it also implies being bent into a shape left with no flexibility. As said
"Blessed are the flexible, for they shall not be bent out of shape"
God Bless.
Friday, August 1, 2008
Believe in Yourself
I believe that I was lucky to have suffered. Some people don’t realize that in suffering there is great potential, because if you are deprived for any reason.. politically, financially, socially or otherwise.. and if you set your mind in the right direction, you will find that the only way to survive is for you to excel, by being better so you can be treated better. The turning point, I think, was when I really realized that you can do it yourself. That you have to believe in you because sometimes that's the only person that does believe in your success but you.
I was told a lot about being content in what you have. A plethora of people advised me that one cant get more than his fate. My question to them was 'has anybody seen his or my fate?'. The answers were obvious. But I had faith in God, belief within and courage to dream. As quoted in the holy Quran 'God Tasketh not a soul beyond its scope'. Believe that you have to go through this because you have the capability to do so. Believe that you are the one chosen by god to be a proof his principles to the rest of humanity. Accept it as a divine mission assigned to you by the almighty.
If you believe that some day it's going to happen, some day it probably will happen. You just have to make sure you're there when it's happening, and ideally you're at the front of the parade, and the principle beneficiary of when it happens, but it's not a kind of thing where you just sort of sit back and wait.
The most important thing is God's blessing and if you believe in God and you believe in yourself, you have nothing to worry about.
God Bless.
I was told a lot about being content in what you have. A plethora of people advised me that one cant get more than his fate. My question to them was 'has anybody seen his or my fate?'. The answers were obvious. But I had faith in God, belief within and courage to dream. As quoted in the holy Quran 'God Tasketh not a soul beyond its scope'. Believe that you have to go through this because you have the capability to do so. Believe that you are the one chosen by god to be a proof his principles to the rest of humanity. Accept it as a divine mission assigned to you by the almighty.
If you believe that some day it's going to happen, some day it probably will happen. You just have to make sure you're there when it's happening, and ideally you're at the front of the parade, and the principle beneficiary of when it happens, but it's not a kind of thing where you just sort of sit back and wait.
The most important thing is God's blessing and if you believe in God and you believe in yourself, you have nothing to worry about.
God Bless.
Subscribe to:
Posts (Atom)