One more Economic depression on our way

Recessions are common; Depressions are Rare.

I seldom like to read Paul Krugman's posts. Paul Krugman - Nobel Laureate in Economics (2008) - Author of "The Conscience of a Liberal" - Op_Ed Columnist of Newyork Times. His prophecies about opportunity and economy are stick notes to Great Economists and Ploiticians. His words are alarm rings against wrong turn economic policies and situations.

We all familiar with effects of the economic crisis/recession 2008 - 2009. The serious of them is Unemployment. Companies stopped recruiting freshers. Even some companies laid off many skilled human assets. Some companies went to mortgage.Some banks collapsed. Stock market around the world were bearish. Many companies started hibernating.

Though the crisis begun at USA, We cant blame America alone for the whole sin. May their central bank conducted monetary economic policies too loose, the financial crisis is wholly not made-in-America.

With the known modern economic history, we're evident of two economic depressions.

Paul Krugman's prophecy tells us that the first depression of 21st century and 3rd of its kind in last 3 centuries is on the way. He points that wrong turn economic policies around the world may lead us to meet the greatest economic depression of our lifetime soon. He also insists countries to stop spending-based policies right now.

Not only India other savings-based countries will also suffer and whole fund flow may stopped to continue rotating the world.