A new economic phrase has been bandied about by research houses in many economies, albeit subtly. Many of the experts in these research houses “expect the worst is over” for their countries’ bleak economic performance and future scenario. But the worst just keeps getting better.
Some countries are adopting an insular approach as they want to protect their respective currencies, their national interests and their borders against encroachments by refugees fleeing from other lands. Worst, some countries are tearing trade pacts meant to improve their citizens’ livelihood. All these happenings have an effect on the world’s economy.
Is the worst really over or is it just the beginning of the worst?
During these tumultuous times on the global economic front, a country may be forced to go it alone as policymakers from various developed countries will put their citizens’ benefits first and foremost at the expense of the benefits for people in the third-world economies.
Sentiments are powerful. They can make or break people.
Sentiments concerning a country’s economy among its population are even more powerful. They can make or break the country, economically and financially. In addition, negative sentiments about the economy, if they are allowed to fester for a period of time, can eventually break the will of a people, who are desperately making ends meet.
In order to maintain positive sentiments about the economy of a country, experts in the research houses, economists and policymakers constantly harangue its population on how good that economy is performing even though the country is drowning, economically. Hence, the phrase “expect the worst is over” is perennially played to minimise the level of panic and fear among citizens of any country.
Unfortunately, the citizens become more panic-stricken when they hear that “the worst is over” as the economic environment, internal and external, unfolding right before their eyes tells a different story. As a result, the citizens become jittery about the actual situation pertaining to their countries’ economic status because the global business environment keeps fluctuating without showing any signs of consistency. It is like sitting on a see-saw – swing up and down, swing up and down, swing up and down, etc.
Let’s hear what the experts in the research houses, the economists and the policymakers have to say then.
“The worst is here”?