If a few weeks ago, you told a true blue capitalist that the US government would be actually buying a private US company, or that one of the bulwarks of America Inc. would be going to the US government with a begging bowl in hand, he would tell you in no uncertain terms that you needed psychiatric treatment. Yet, believe it or not, both the scenarios are a reality today. To say that this has sent shockwaves across the globe would be an understatement. It also looks like that this is not the end of it and more turmoil is in store.
But how did this come to pass?
While it would take a roomful of analysts months to work out an explanation,
one reason looks obvious - the inherent nature of the 'anything goes' brand of
capitalism which the
While various companies, institutions and even governments all over the world will face the fallout of this, there is a lesson in it for all of us. We need to inculcate a sense of financial discipline and avoid the pitfalls of 'living on credit'. Many a time we are tempted to buy something (which we probably don't need in the first place), because it is available on 'easy credit' - but that's a misnomer, there is no such thing as easy credit.
It would also be wise to avoid buying things just to 'keep up with the joneses'. While its easy to get carried away in the flow of materialism and the thrill of 'acquiring' new objects, it would be wise to remember that materialism, like fire, is a good servant but a bad master.
This is not to say that we should all become monks and start living in a cave, but we do need to keep in mind that there is a difference between genuine needs and mindless consumerism.
Yes there is a difference between genuine needs and mindless consumerism – But, there is span on life when one naturally gets on the binge, some good, some harmful. Just like eating binges result out of the inability to control emotional swings, spending binges many a times are resorted to as stress busters. Binges again have its own properties of protection of the hour, but to differentiate -The Bottom line is discipline. Habitual discipline is the only guarantee for bringing out a balance from the depository that would encounter the unforeseen blow of calamities for co-existing in every field of life, whether personal, corporate, government or even that of the universe.
Its the Hard reality to practice.
Regards,
Brenda Kane.
Anupam,
Can we expect the 'quarter on quarter' topline & bottomline growth driven business logic that forces companies towards single-minded focus on sales and not on building a strong long-term vision. Is it just the US consumerist society? Is India any different?
" This is not to say that we should all become monks and start living in a cave, but we do need to keep in mind that there is a difference between genuine needs and mindless consumerism. "
true to the core...but in a culture like india there is always a better way out of bad times...take up the "baba" act...osho / ramdev / asaram / etc / etc...recession, boom never effects them...either ways they find people who queue up to listen to unwanted gyaan they were always there to give (at a price)...also the statement "buy now pay later" works in a skewed way- "karm karo, phal ki chinta mat karo"...expecting the "phal" will be paid up once we are dead...!!!.. here its "the monk who bought a ferrari / lamborghini / rolls royce"...anything goes in the name of god...we are relatively safe as long as we believe sticking our heads inside a holy book or shouting out heavenly hymns at the top of our voices, once we are done with all the sins we were waiting to do, will get us nirvana...jai ram ji ki
baba alak niranjan
Yes, I agree that mindless consumerism is bad for all, and money is good servant but a bad master. What is yet to be seen is, how excess consumerism hits the very companies that promote it. Loss of consumer loyalty, low shelf life, etc, are just the signals to the coming times.