The story of the US `recession

Published on: 2008-3-26

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The story of the US `recession'


XYZ Software company fires 500 people - screams the newspaper. The Indian Software "engineer" wakes up and blinks - yes, it ought to be "recession" time in the US! The smart, oh-so-polished commentators on NDTV and other business channels deliver great lectures about why the share market is behaving the way it is ... But remember, the media usually shows you only one side of the story - and it would mostly be the wrong side. Read Greg Palast's Eliot's mess to get the other side. So, what might be the real story? In one word, GREED and CORRUPTION of such astounding proportion which would make even the greediest and most corrupt of our great `netas' look like innocent babies! That too, in the mecca of capitalism. Isn't it amazing that the proponents of the "Free Market" clamour for government intervention to bail them out of the mess which they themselves have created by their unbridled greed? RMS has a collection of political notes which you might find interesting - they may be useful for seeing the "other side" of the story.