18 April 2009

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World Recession: A different type of danger for India.

Reality Views by sm
World Recession: A different type of danger for India.
India : Culture of Saving , last 50 years in India , one generation is giving to the next generation a gift which is called as an Art of saving money.
Our economy is in recession from last 50 years, but we did not realize it because of our tradition of saving money first and then buying the article, products which we need really.

But today America, West is facing recession and one of the most important and simple reason is that American people, British people do not save money, they purchase the products on loans that is also on the future salary, earning.
Now as American people will have to stop this luxury, those companies will come to India and will use the same policies and will encourage all the Indians to purchase products on loans.
Before arrival of those policies and companies, our own Indian companies have already started those policies, tricks and many Indians have already got this ill habit of purchasing products without need or requirement of replacement of product.
Today if you visit shops and see around you, you will see that people are without requirement, purchasing new washing machine, when there old washing machine is in good condition.
Another example is Television there 29 inch LCD is new brand, but they are buying new 32 inches Lcd TV, because companies are giving them zero percent loans, or with good advertisements and promotion ads, they are making them fools.
When you purchase a product without need, when your home product is in good condition still you are buying new product, replacing it, then you are fool.
Remember we do not have social security or pension system like USA and UK.
If today you don’t save, in old age you will have to live in a village and have to rent your city flat to survive.
So learn and keep and follow our traditional system of saving money and purchasing products which are really necessary for your home, just some film star and cricket star is saying on TV ,don’t purchase the product
Beware from Indian as well as multinational companies they will lure you into the traps of loans, No one will make you aware about this, even politicians will support them by reducing the interest rates on your fix deposits and PPF or EPF accounts, so you will stop saving money.
Beware your money is in danger, Think about old age, retirement.
Your kid’s education expenses.

Otherwise be ready to stay in slum or old house by renting your posh flat to stay alive in old age and to support your medicine.
Currently I don’t see any way we will get any type of social security like USA from our Indian politicians.
I always listened old people proudly saying to there kids and friends that , son I don’t have to pay any loans so after my death you don’t have to pay anybody. All property is safe.
I am sure as an Indian you also must have listened such dialogues from your grandparents or neighbors even many times you can hear this type of dialogues in movies also.
So learn to save, learn to spend don’t be fool
It is easy to earn money, but it is more difficult to save and spend money wisely.


BK Chowla, April 18, 2009  

Indians are known to save,not because they are misers.It is more because of the family values.We save for the daughter's wedding.We live all our lives in mediocre state and ,normally,die rich.Father brings up the children and then ,depending upon up-bringing,children look after their parents.So Idon't see the kind of problems the west may have.

sm April 18, 2009  

yes right this is the begining of this problem,
so its better if our people understand and stay away from this habit of spending without need.
prevention is better than cure.

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