28th
August 2010
A
lurking double dip recession
 The
last bit of bad news the Western world wishes
to hear about at this time, are the prospects
of a double dip recession. The West is caught
between a rock and a hard place as their bursting
deficits demand urgent attention to maintain
their financial status and equilibrium in the
eyes of the world. Achieving these goals require
a determined effort to balance their respective
budgets, but to achieve this goal, exports must
be vastly improved, imports must be adequately
curtailed and belt tightening has to be addressed.
Despite two years of hardship by the loss of
jobs, the loss of millions of homes, reduced
salaries and other draconian measures, economic
growth remains insignificant as the cost of
doing business remains far higher than China
and India and both those countries continue
to improve their bottom line at the expense
of the West. Western countries have their views
as to exactly how their citizens need to be
treated, but how much longer can they maintain
a false standard of living and what will be
the consequences.
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