The first world consisting of developed nations - US and west Europe - are at the cusp of recession again . This time not due to recklessness and greed of private sector (mortgage companies and investment banks) but due to profligacy and extravagence of the goverments. Unthinkables like developed and rich nation governments teethering at the edge of bankrupties are happening these days. These are interesting times for everybody as these changes herald the beginning of the new pecking order when the economic power of...
