One of the conversation topics in India was about the state of the US economy. A friend who is an investment partner with a couple of ventures commented that the only reason the US was still going on was because of the ability to print money that is used all over the world.
Now, upon returning to the US, I scanned a few news and blog items I had missed thanks to the trip, and came across this gem (
ht) that shows that we now aren't even good at printing money :) Hilarious!
I still place my bets on the US though. The Euro area is in a worse crisis. China's reality depends on the Communist Party, and who knows where that will be at the end of the decade. India's growth rate is impressive, yes, but inflation is currently ahead of the growth rate. To some extent, the inflation rate of food and shelter is making the poor and lower classes worse off by the day. The stark contrast between the affluent middle and upper classes and the rest is horrendous.
If I were a young undergraduate student in India, there is a good chance I might have made the stupid decision to join the bomb-throwing Maoists. While I don't support the violence and destruction carried out by the Maoists, the fundamental reasons why the Maoists are in it are real. Tragically real.
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