Monday, 29 January 2018

NYT article: "Every One of the World’s Big Economies Is Now Growing"; Really nice to read after the great financial scare a decade ago

Every One of the World’s Big Economies Is Now Growing, https://www.nytimes.com/2018/01/27/business/its-not-a-roar-but-the-global-economy-is-finally-making-noise.html, 27th Jan. 2018

A short extract from the article, "A decade after the world descended into a devastating economic crisis, a key marker of revival has finally been achieved. Every major economy on earth is expanding at once, a synchronous wave of growth that is creating jobs, lifting fortunes and tempering fears of popular discontent."

Ravi: That's really nice to read. Let's hope that the great financial & economic scare/terror that started in 2007-08 in the USA and spread worldwide, is now a spent (negative) force.

Nothing in my adult lifetime of almost four decades now, which has had significant amount of exposure to the materially advanced Western world (USA and Europe), came close to the great scare lasting a few years with sometimes even terror coming into play, that the 2007-08 Financial crisis created in me and I think many others who were following its traumatic events being played out on the world stage, https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008. Lehman Brothers collapsing (financially) in Sept. 2008 was the big event that made me jump up and take notice of what was going on in Wall Street, New York City and the USA financial system in general.

And the information and news that started coming out was bad, really bad! Doomsayers were in full flow! Somehow the world economy escaped getting into a destructive tailspin that history tells us, typically leads to outbreak of big wars!

What a great relief it is to see that one decade down the line, the picture is certainly on the brighter side as compared to the dangerous situation in 2007-08, even if that needs to become significantly more brighter for many people.

[I thank nytimes.com and have presumed that they will not have any objections to me sharing the above short extract from their website on this post which is freely viewable by all, and does not have any financial profit motive whatsoever.]

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