With no dearth of analysis on the state of the world economy, the ordinary citizen is getting more concerned with his daily bread and shelter. It has come to such a pass that even the basics look increasingly uncertain after all these years of economic and scientific growth! What use news around the globe, and even beyond, when the next meal or the roof over the head looks untenable? The governments must have short and long term planning to give some assurance of the very basics. The rest are welcome as superstructures.
Governments seem to get too distracted or even let off the hook by wrong priorities and adventures. For the basics, money is always short but not for profligacy in others fields; it is taken for granted. Defense, arms industries, wars take up a huge chunk of resources, in terms of human capital even. And the whole world gets dragged into internal affairs of other countries and mired in a quagmire. Much resources and time are wasted.
Certain fields should not be profit-oriented. Food, Health, Education should be above commercial interests, at least for the very basics. They are the very essence of life and the governments should get them right and take control. There are enough people with passion to dedicate their lives and contribute to add further teeth to the efforts.
One of the biggest volcanic eruptions happened in 1883 in Krakatau, an island near Jakarta, capital of Indonesia. Now, another emerging one, known as Anak (Child, in Indonesian language) of the original, is rising from the ocean floor. Similarly, financial speculative excesses rear their ugly heads after each meltdown! And surprisingly, the governments seem to be powerless to curb these activities.
What use are these pursuits and the costs of the resultant losses heaped on the entire world due to the excesses of few? What added value except some casino effect for the few who indulge in them and leave the innocent majority to pick up the tab? The governments are still clearing the carnage of previous melt-downs.
What is the real state of the world economy? Standard & Poor is downgrading US Long Term Debt rating from stable to negative. But IMF has released an upbeat report on the state of the world economy that the risks to global financial stability have declined. Of course, these are not based on picking data from thin air; but made after detailed crunching of massive data. Still the conclusions differ on their implications.
One bad report card is followed by good and it goes on forever. The only certainty is no two economists tend to agree. The common man is confused but the bottom line is his life becomes more uncertain by the day. He sets out to secure his basics but even his life savings and retirement funds are under threat!
Why governments should let certain activities get out of hand that impinge on the basics that are the very essentials for survival? The IMF commodity price index has risen over 30% in less than a year. And many pundits are betting on them to rise further to make a killing! Surely, we get disoriented and lose our focus. When our thinking spins out of control and the governments do not react with the seriousness, they lose sense of their duty and the yearnings of ordinary citizens. Nature is still kind, but to think that an event like a huge natural calamity, like another Krakatau volcanic eruption, could lead to global climate changes and create further misery on an already precarious food stock position!
We are already living from hand to mouth and it is time our leaders worked in unison to get their priorities right than be at each other’s throat. Time for the dramas to end and relegate them to real actors for entertainment value! The very yearning of every person is for some earnestness of purpose to make it clear that we are serious in fixing the issues. We still seem to have time, but maybe on notice, to set right the basics with some room to spare to meet any eventualities! May good sense prevail in this hour of need!