According to the latest survey by the Government of US, it has been found the most ugliest word in the financial world. We all are totally aware of the word and it is a very common term. The word is "financial crisis". Though it is not officially declared but as per my survey I have come to the conclusion that it is one of the most ugliest word for me in the finance industry.
You must be wondering why have I chosen this word as the ugliest word. The reason is very simple. Everywhere I go, I hear this word whether it is a news channel, or any public debate, and even when I am talking with my friends and relatives. Everybody is talking about Financial Crisis. We all know that we are passing through a bad phrase right now, but what is there to discuss about, I still haven't understood. Discussing these things will not help in overcoming the situation.
In every news channel, we see that the news reader is calling one financial expert to give his views on the "financial crisis", I mean common it is very obvious that those financial experts are the best people to give lectures on the financial crisis. Because they know in some way or the other we are facing this financial crisis only because of these financial experts. I just hate when the news reader call them on the stage, invite them, greet them and what more.
But the common people are not aware of the fact that this financial crisis is because of these financial experts who have only one common purpose, that is, to take out more and more of their saved money which they have saved since years. They never give any guarantee for the loss of the money. And people very easily believe them because they have no other option as they are in "financial crisis".
Because of this financial crisis so many people have lost their job even when they were not at all responsible for any faults. Even my cousin brother, working in California, got sacked from his office because of the "financial crisis". The company couldnt pay him two months salary, as a result of which he was blamed for some fraud and sacked from the company. Check out what "Ron Paul" has to say about Global Financial Crisis in the video below:
Even I could go on and on repeating the same thing whole day, but do you really think this ranting will improve the financial condition of our country?? Not at all. Bring your views on this in the form of comments that is what do you think? Am I right or wrong? What do you think can be done to stop the recession? Come up with your views.