India's economic problems are no longer restricted to broader macro issues that do not directly affect the common man. We have been battling poor infrastructure, falling industrial growth, corruption, red tape and fiscal profligacy for a while now. But over the past few months, inflation, unemployment and dramatic slowdown in economic growth have severely impacted our standard of living. The economic slowdown has not just hurt job seekers. The extent of the crisis can be understood from the fact that even the search firms are getting out of business.
Once the holy grail of those wanting to land into meaty profiles, the job search firms' client list has now run dry. As per Hindustan Times, nearly 7,000 job search firms have shut down in the past few months. And many more are on the verge of doing so. We believe that it may be a long while before the economic scenario gets any better. And hence it is in the interest of investors to prepare themselves for the worst
The global economy has been enduring an extended slowdown. How have the fortunes of the super-rich (net assets of US$ 30 m and above) been impacted globally? An article in Financial Times shares the findings of an interesting study conducted by Wealth-X. The countries that saw their super-rich population shrink in 2013 were largely emerging economies. Brazil and China lost the highest number of multimillionaires. Only Russia and India reported a marginal increase in the number of super-rich individuals.
On the contrary, the developed economies saw a rise in their super-rich population. Doesn't that sound counter-intuitive? Especially because these economies have been growing through a severe crisis. Then what is it that has led to an increase in the wealthy population in the United States and Europe? Thank the ultra-easy monetary policies of the central banks. The massive money printing drive triggered a strong recovery in the asset prices of these economies. In other words, there has been a massive redistribution of wealth in the developed world. And this has further widened the income inequality gap. We believe this is unsustainable. Policymakers are doing nothing but brewing a recipe for a big economic disaster in the coming years. .
Once the holy grail of those wanting to land into meaty profiles, the job search firms' client list has now run dry. As per Hindustan Times, nearly 7,000 job search firms have shut down in the past few months. And many more are on the verge of doing so. We believe that it may be a long while before the economic scenario gets any better. And hence it is in the interest of investors to prepare themselves for the worst
The global economy has been enduring an extended slowdown. How have the fortunes of the super-rich (net assets of US$ 30 m and above) been impacted globally? An article in Financial Times shares the findings of an interesting study conducted by Wealth-X. The countries that saw their super-rich population shrink in 2013 were largely emerging economies. Brazil and China lost the highest number of multimillionaires. Only Russia and India reported a marginal increase in the number of super-rich individuals.
On the contrary, the developed economies saw a rise in their super-rich population. Doesn't that sound counter-intuitive? Especially because these economies have been growing through a severe crisis. Then what is it that has led to an increase in the wealthy population in the United States and Europe? Thank the ultra-easy monetary policies of the central banks. The massive money printing drive triggered a strong recovery in the asset prices of these economies. In other words, there has been a massive redistribution of wealth in the developed world. And this has further widened the income inequality gap. We believe this is unsustainable. Policymakers are doing nothing but brewing a recipe for a big economic disaster in the coming years. .
No comments:
Post a Comment