Shares continue to tumble and the global healing touch has simply proved to be ineffective. What lies behind the crisis? It's plain greed. The present Gen is so money-centric that basic values are taking a backseat, and that, at jet speed. Lemme explain. In the 90s, I used to watch real estate agents in Mumbai, India. Some of thempurchased houses meant for middle-income groups at throwaway prices and jacked up the rates to almost double in a matter of months. Not that the governments didn't know of such a practice. In fact, the governments wanted their own pound of flesh and increased the property tax rates to unbelievable heights as happened in New Bombay (called Navi Mumbai now.) A people's movement had to be launched to bring the tax rates to reasonable levels. How many people have heard of salaries doubling in a matter of months!! It's a vicious circle. Let's wait and watch.
rr/Oct.16, 2008
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