what putin is saying is correct, but what he is not saying is also important, which needs to be highlighted. what if america stops doing all that it is already doing? will that then not severely dent the global economy? what will be the impact of a US economy which then comes to a standstill, will that then not impact the world?
we are caught in a vicious cycle here, we are damned if they continue like this and not come up with sensible corrective measures, and we are damned had they declared bankruptcy, the fear of which will continue to dodge the global economy from time to time.
yes countries need to invest in alternate currencies, though a currency is no more than a piece of paper when the bad times hit the scene and in commodities, but then there is a limit to either.
its the way india is doing. we are spending way more than our means, and we, if we dont take various corrective measures will one fine day meet the same fate, but if we over do with the corrective measures, the economy will come to a standstill or slow down significantly, with crippling effects within.
the difference, india's impact will be felt within, in case of the US, the impact will be global and many-many times more.
its like a rubber band, you keep stretching and try and balance it out when the going gets good (ie lessen the stretch), but in those good times dont come up with excuses otherwise the rubber band is bound to break at one point or the other as happened with satyam, you bet raju of satyam was doing nothing wrong, but then the stretch went beyond the control.
