M V Kamath's book on media released

M V Kamath's book on media released



Delivering a talk on ‘Anatomy of global financial meltdown’ after releasing the book, renowned scientist and author Dr N S Rajaram said that the global recession is entirely man made and that it was created owing to excessive speculation based on availability on borrowed money.  The productive activities have gone down drastically. Service and manufacturing sectors has become less productive. In US, the borrowing created an illusion of prosperity. The total asset of the entire planet is one hundred trillion dollars, of which US accounts for a share of 50 trillion dollars. The Indian GDP is only 1 to 1.4 trillion dollar.

Financial institutions like Wall Street Bank are carrying derivatives worth 600 trillion dollars. This is truly electronic counter feeding and these derivatives are nothing but fake promises of selling hopes, he said. Indian education lacks critical way of thinking. India is a great country and needs no recognition from the UN Security Council.  Dr M V Kamath, Manipal Press Limited Managing Director Gautham Pai were present.

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