It has been sometime since I have written anything on my blog, and I appologize to my readers for not doing so. The thought which has been consuming me day in and day out was why did anybody not see the economic downfall signal? Or someone saw it but ignored it since it did not effect them........
The National Bureau of Economic Research in the US does study of the various business cycle peaks and trough to determine the economic health. The Center for International Business Cycle Research also in the US does coincident index study coinciding with the business cycle turns. The components it includes are industrial production, nonfarm employment, real personal income, total business sales in constant prices, GDP iin constant prices and the unemployment rate. (source: findarticles.com).
Next time I hope such signals are foreseen and appropriate measures are taken to avoid such catastrophic financial troubles. I also hope that situation improves, especially in Europe. European leaders are planning to sit down and chalk out stricter financial regulations in the upcoming G20 meet this month. A good outcome will result in Europe leaping back, if Greece stabilises that is.
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