Omniscient

We learn from mistakes. The terrorist attacks of September 2001 helped us to take terrorists far more seriously. The global financial crisis of 2008 can help us predict the next crisis and take necessary back-ups as we cannot avoid a financial crisis as per economist Keen, the one who predicted the last crisis. The failure of Lehman brothers unleashed chaos, but it's not the only cause. It is also expected that after huge rate hikes specially by the Fed have resulted in a recession, and like other crisis, there is reason to believe that this is also going to be the same. The size of financial crisis maybe reduced. The banks are now in more equity and less debt, also, they depend less on trading to make money and on short term wholesale borrowing to finance their activities. The banks must be kept under regular surveillance and keep a check on their plans and the NPA's. The 2008 crisis was neglected by most of the economists due to the 'great moderation', but this can

Short term growth is the output of a country in terms of GDP over a given short period of time, generally a year. It is measured by the annual percentage change in GDP. While, long term growth is when the country's productive potential is increased, the potential of the country's GDP is increased. Due to an expansion in either the quality or quantity of factor inputs, the country is now able to produce more. A student who crams for an exam by memorizing answers or developing absurd mnemonics and gets 100 percent tomorrow only to forget everything he learned one month from now is more harmful than a student who has “learned” the concept for the long-run. Similarly, even a runner can’t afford to win only the upcoming race by risking his whole career. While short term strategies can deliver an immediate impact, to stay in the top in uncertain times, the champions are the ones to take the long view. Ferrari has reached it’s peak in racing world, the earlier CEO Montezelo had long