Pushkar
Pushkar is the fair of camel trade.
true
First of all, let me confess that I am no economist, however I do have half a brain and it only takes half a brain to see the obvious as to what caused the recession (someone please tell me why the "experts" don't see it).Developed countries sent all their manufacturing over to China and with it all their jobs because China is a great source of cheap slave labour.Because of low interest rates (cheap credit provided back to us by the Chinese) we all went out and splurged (even if we couldn't afford it). While we were spending, unemployment was growing (no jobs left) and then one day the straw that broke the camel's back (sub-prime thingy) went "SNAP". It just so happened that the house of financial cards began to fall leaving a lot of crooks with their pants down and their volatile companies in tatters.The scary part about all this is that this is not really a "RECESSION", in that it is not part of some cyclical process which will inevitably come to pass. This is for KEEPS!!! Why? Because, you think about...what will it take put everything back the way it was? China gives us all our jobs back? Unlikely!Maybe we'll have a war or an epidemic (less people, more resources to share around). Maybe the big boys who really run the show will make up new figures (print more money) and just keep a lid on it for the next 25 years, in which China will raise it's living standards and wages and we can finally compete with them again.I'd really love for someone to prove me wrong, because this isn't a very nice scenario, but like I said...it only takes half a brain to see the obvious.
Economic growth is mostly defined by GDP growth, this is, the increase of the production of goods and services in a given area (normally a country) within a time period (normally one year but it can be one quarter, for instances). Economic development is the improvement of all life standards, like health, education, life expectancy, institutional quality, etc. What happens is that most of the people think greater growth will drive greater development. Despite the two being highly correlated (more growth means more resources to deploy therefore better life conditions) there are cases where this is not that clear. See for example the emerging economics vis-a-vis Western World. The emerging economies are growing much more but their economic development is still smaller (access to good education, health services, clean water, infrastructure, etc.). Economic growth is more an economic aspect (only related with the capacity of production of goods and services) and economic development is more a social aspect (how the income generated from production is employed to increase welfare of people).
Because the Federal Reserve is run by a banking cartel with no oversight from congress and their activities are secret, it is possible that the current crises could have been engineered by that banking cartel for the purposes of increasing their power base. Your tax money is being given to big banks to gobble up smaller banks. It is not going to support mortgage securities as congress directed. Congressman Kucinich is really upset, he's accused the treasury of rewriting the law. See the YouTube link below. That's what he was supposed to do in the Friday morning speech, and when he didn't the markets tanked. Another demonstration of his total lack of leadership ability. I will answer the first part, "What has happened to the economy" and leave it for someone else to respond to the second part, on how the bailout is supposed to work (if there is one). All problems stem from loose lending standards for home buyers, extending back to year 2000- 2001. The origination of sub-prime loans meant more people now had the borrowing capacity to buy homes. These loans did not require checks of the borrower's income or other assets, so the home they purchased became the collateral for the loan. As there were more people able to in purchase homes, the price of these homes soared. Thus as long as prices were going up, the collatoral was good. The banks to insure the flow of money (credit) to make the sub-prime loans, found ways to make them appear more secure and sell them to investors or investment banks. A poor loan with insurance does not become a good loan, but it passes the risk of default on to the insurers. Now, insurance for home mortgages is unlike insurance for fire or theft (random events). The sudden decline in home values, coupled with higher unemployment, results in more foreclosures. So, those insuring loans began to run out of money. This is the systemic risk that everyone is talking about. In a more complex manner, poor loans were bundled with better quality loans, in a way to make a product that they could sell, to gain more money to loan. In the same way, the systemic risk of a downturn in the economy was difficult to factor into these products. See collatoral debt obligations. Other loan features, intended to make the loans more affordable, included low or no down payment, adjustable rate loans, balloon payments, and no escrow fund creation. The banking industry through these terms was allowing lending that at the time seemed to be popular and profitable, but now with an economic downturn, a disaster. Finally, the banking industry pushed the "home equity" loans, further diminishing equity for home owners.The funds; if approved, would be used to purchase asset -- presumably default mortgage -- from financial institutions to prevent fire sale, which is selling asset at any price because the financial institutions are in short, and in serious need for liquidity. This intervention can also be considered as a guarantee pricing, not to let the property prices go down to an unacceptable level; or in other words, to prevent a systematic melt down of the financial institutions. - I would like to add: Wikipedia answerers should not engage in politics per the above "ask Bush" response. Shame, Shame. Lots of reasons exists for the market tanking. - I would like to add: In theory, a reverse auction system is employed so the government doesn't overpay for troubled assets. This is where the government specifies what it intends to purchase, giving the properties of the "troubled assets" and the sellers who offer the lowest sales price get their "troubled assets" exchanged for Tresury bonds. At least that's my understanding. This mechanism has been criticized as the seller know more about the assets being transferred than the buyer. Just the facts.... The "ask Bush" comment was based on simple fact. He had been asked by congressional leaders to to a "fireside chat" type thing to calm people down. He didn't or couldn't... This crisis is NOT just related to home mortgages. Mortgages are just the "straw that broke the camel's back" sort of thing. If they just wanted to fix the mortgage problem they would have just done some interest adjustment and created a system of direct aid to troubled homeowners. The AIG package was a corporate bailout and so is this one. The Myth of the Mortgage CrisisThe Mortgage collapse is a symptom, not the source, of economic problems in this country. Distribution of wealth in the U.S. precipitated the mortgage crisis. See the related question on this subject. Additional Information: As the initial responder to this question (the Why don't you ask Bush was added later by someone else, ahead of my comments), I would like to add that wikipedia has numerous webpages on what is now a worldwide economic crises: See: http://en.wikipedia.org/wiki/Economic_crisis_of_2008 http://en.wikipedia.org/wiki/Bailout_of_U.S._Financial_System_(2008) It is an evolving story, and I just tried to summarize one critical aspect, the loose lending standards in the US. Please be respectful and factual. Also, I commend the responder who clarified the reverse auction process for me.
Pushkar Mela
jaipur
As of November 2014, the state animal of Rajasthan is a camel.
mainly in rajasthan
Rajasthan is famous for all the features it also includes the festivals such as Brij festival, Desert festival, The camel festival, Elephant festival, Teej festival, Gangaur festival, Nagaur fair, Marwar festival etc. something like this..http://tirupatiholidays.net/rajasthan-festival.htm
In India, camels are primarily found in the arid regions of Rajasthan, particularly in the Thar Desert. They are also present in parts of Gujarat, Haryana, and Punjab. Rajasthan is known for its camel fairs and cultural significance, making it the most prominent state for camel population in the country.
Festivals of Rajasthan Pushkar Fair Desert Festival, Jaisalmer Elephant Festival Jaipur Nagaur Fair, Nagaur Camel Fair Bikaner
camel
Sopwith Camel
There are many but the most famous is the camel
sonic the hedgehog
lots of water and a hat Sunscreen, water, hat... what ever you wish to add. But don't miss the travel safari in desert. I would suggest you to travel the desert region in Rajasthan, India. Desert festival is very famous out there and you can also enjoy the camel safari.