EXTRAVAGANCE AND WASTAGE CURTAILED

Difficult economic times demand difficult remedies. These remedies can be backbreaking for some in the financial sense. But allaying the fears of the majority of the population through high-sounding economic phrases doesn’t seem to provide the necessary peace of mind to many people. In the present economic scenario, that peace of mind is more focused on how to hold the purse-strings.

Loosen the purse-strings and one goes bankrupt. Tighten the purse-strings and one may be able to weather the economic tempest growing globally without any positive signs of abating. So, where does that leave governments?

Policymakers can’t just purse their lips and leave everything in the economic sphere of their respective countries to market forces. The market forces going in the opposite direction have awakened to become GODZILLAS rampaging and destroying everything in their paths, economically and financially.

Governments seriously need to take stock of what is going on globally. Many economies have been experiencing a substantial and sustained turbulence since July 2014, and yet some governments are still banking on a rebound (a miracle?) to happen in the economic sphere of things. The rebound is possible when everything in the economic sphere is managed properly. Otherwise, the rebound will just stay in the clouds.

That so-called rebound should have happened a long time ago. After 2.5 years, there are still no tangible signs of a rebound. The only thing happening is a relapse into unconsciousness. Any economic doctor around?

Governments need some heavy “dose” of practical and relevant economic advice to run their respective countries. This is not the time for extravagance and wastage anymore. If the extravagance and wastage continue, they portend more trouble for the world’s economy.

May the force be with the governments.

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