DEPRESSION

INDIA AND DEPRESSION IN THE WEST text/javascript’ src= If you think the economic depression is over, you are mistaken. Many European Nations like Greece are still in the woods. Struggle of the workers against wage cuts are spreading across Europe. The US is not resorting to this harsh measure, because they have money to manage their affairs. This will not last forever. It is like a person who goes on borrowing for his monthly expenses. One day he will become a beggar. Idia survives on black money. But the Government’s attitude to price rise of food grains, pulses, vegetables etc. may land it in trouble. If it alienates the common man, the Congress Party will suffer ignominious failure in general elections to Parliament. Its strong base in Andhra Pradesh is already eroded by the Telangana agitation. If the party fails in the elections due next year, we will have political depression, worse than economic recession.