Gloom .... boom ... droommmmmmmmmm

That's exactly happens in USA recently. Gloom ... boom ... droom ..... You know, there is a famous economics theory, named after Nikolai Kondratiev, who suggested economies are characterized by 50-year cycles that include innovation, robust commercialization, and subsequent economic slow-down as the implementation of that innovation ages and matures." [see http://en.wikipedia.org/wiki/Nikolai_Kondratiev]. Consequently in our stock market jargon, there is something called Elliot Wave [http://en.wikipedia.org/wiki/Elliot_wave].

However those are like n number of aliases of Lord Krishna. Actually it's a depression - an economic depression - who's know will it be Greater or Greatest! Remember 1929 NYSE crash that trigger the Great Depression. However the World now-a-days is not so fragile as that of 1929. At that time the country borders were created in tables of conference rooms with lots of smoke, coffee. We all at least have some ideas of First World War - Germany's defeat - and Treaty of Versailles which shapes out the artificial state borders and League of Nations ... dhushhhhhh ... so fragile that multiple dictatorships arises - Hitler in Germany, Mousolline in Italy. This mixed up with exhaustion of industrial progression of almost around 100 years, started around 1844 in Britain as Industrial Revolution. So the system was actually looking for the next big jump .... may be the era of end of Imperialists, starts of era of entrepreneurship's, rise of USA to one pole of the bilateral World, the United Nations, real acceptance of USSR as the other pole of the World, cold war and obviously more devastating weapons starting from Atom bombs. And the Great Depression is actually the trigger point of that big jump - as I always perceived it like this way. I think if there is no Great Depression - even if Hitler's insatiable hunger of land and fake Arianism - the 2nd World War would never happens. Chamberlain (Britain's P.M at initial days of war) et. al. would somehow manage Hitler and Hitler would Mussolini. So a big jumps need big disturbance. And World war - II tops down the whole system! - the Gold Exchange was stalled - USD $ becomes major currency. And USA/USSR becomes fulcrums in the coming ages.

Now think of present scenario. Yes - we're in an age of extreme miniatures and pretty less physical activities. And age of Information. Never before in history of mankind, information becomes so abundant and becomes a commodity by itself. Moreover it's an era of indiscriminate usage of all the natural resources. USA is still major power, but seems fatigued by its own virtue of history. They're trying hard - none the less - it's just not clicking like Sourav Ganguly in recent times. And slowly China & India are picking up .. so much that India got a side bench in WEF in Davos ... and can not stop to sign the nuclear treaty with USA withstanding the allergies of some other nations to see the elegance of tri-colour. This becomes possible simply because India is going well and expected to do well in prosperity - albeit the distribution of wealth needs to be adjusted and a lot more to be done like in Infrastructure - both hard as well as soft (HR). Certainly we don't have another World War, that is not possible at current scenarios - but the changes will be more subtle. India and China and other emerging nations slowly turns the balance of payments towards their side. They will have more & more companies, amalgamations under their umbrellas and hence will occupy more wealth of the World by themselves. Thus the BoP will be tilted toward us. And certainly the fulcrum of the world!

Hope for the best ....