New reality for the times we live in

We are living in unusual times. A once in a century phase. A rarity. Call it whatever you think best fits the situation. The truth of the matter is its real and its here to stay. What I am referring to is the economic woes of the present times.

I am more than convinced that the summary of the present times is leading to most certainly the worst decade of economic opportunity and wealth building. In turn deterioration of living standards. Not just for the middle class but every class from the rich to the poor, in all countries of the world. One could endlessly debate the causes, the strategies, the lessons from history, etc., but no policy maker or political leader or pundit is sure as to which one or combination of measures will work to help us dig out from the hole. Most would agree that if one thing needs to be present for the economy to look up, it is confidence. Consumer confidence! This is at its lowest ebb. Experts are arguing about the approach to raise the confidence. But we have not seen the light at the end of the tunnel yet. Assuming we will be successful in digging out of all this "sometime", its not going to be quick. Ten years is the least it will take for the economy to get back to some level of stability, so say many reputed commentators.

If you are 25-35 years old, you will be 35 or 45 before you get a good foothold, which is okay because you will still have about 15 to 25 years of your productive life to make good the loss. If you are between ages 35 and 45 you will have just 5 to 15 years to make up. If you are 45 and above, you belong to the economically lost generation but a versatile and wiser bunch of people. Wherever you are in your age, there are some serious adjustments to be made and so keep yourself busy evaluating your opportunities and risks more frequently. This is the new reality. And it will be our responsibility to chart our legacy. The present generation will be remembered for a long time.

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