The fall of Capitalism or what?

( In response to a discussion floated in a Linked group...http://www.linkedin.com/groupAnswers)

Hi Srini
Brilliant work on the tabling the facts. But the inferences can perhaps be slightly better 1. The bankruptcy of a few Financial institutions cannot be termed as the fall of capitalism. As long as there are entrepreneurs, Capitalism will be. 2. Agree with you on wasteful expenditures that America has incurred on the trillion dollar "terror" war without much ensuing out of it but the current acount deficit. 3. Nothing substitutes the basics in financial sector. This fall in the banking system is however the fall of over optimism and over leveraging of the mortages and other banking tools without a solid base. 4. My feel is that the financial Tsunami is going to travel eastward to Asia in some direct form or indirect form. Already European banks are feeling the ground under their feet buckle to the pressures. 5. However the more eastward this Tsunami travels the lesser will be its intensity. While it has affected the whole of the American banking system, and part of the European banks, its effect eastwrd will be lesser in scale. 6. For India,liberalisation was a panacea. Ironically however, the gradual rate of oepning up of thefinancial sector has made sure the risks and exposures are not as substantial. 7. It is a good time for economies like India and China to surge ahead. 8. While getting ahead is easier, India will require some discipline to forge the pace. Wasteful rural subsidies must have to stop. Infrastructure must grow faster and we need qulaity out there. 9. For a good 40 years, India was a partly socialistic economy. However at this time, our progress and deliverance lies in judicious capitalism. 10. The Indian capitalist is a thoroughbred and i for one vet for the Indian capitalist to play a significant role in shaping the future of ths country. Which ever way you see it, Srini, we are still talking ideals of capitalism as a means of deliverance whether be India, China or the sinking US. So its not the end of Capitalism, just that it is changing grounds probably...