Partially because of the rapid growth in telecommunications and Information Technology we have seen growth parameters including the GDP rising continuously during the 1990's any beyond. While economic indicators are naturally cyclical, the recent sharp declines on the global scale have far exceeded the expectations of economic experts analysts. In Asia as well as Europe and the USA these declines have been the steepest since 1929.

The somewhat grim financial situation we now find ourselves in indicates a strong need to redefine existing economic and financial models. It is too early to tell when or whether financial rescue packages recently put in place will turn the economies of the USA, Europe and Asia around. Initially these bailout packages have done little to stop the slide in stock indexes.

It seems strange that the collapse of several major financial institutions such as Lehman Brothers came as such a surprise. Hindsite shows that there were plenty of danger signals which if heeded may have prevented this major problem. The business model of Lehman Brothers, their lending practices, and their operating practices, if attended to and revised at an earlier time may have saved the company and kept employees and shareholders holding a bag containing precious little.

The question has to be asked as to what if anything financial institutions have learned from this experience. Will they accept the bailout packages and continue with business as usual or will they use this financial assistance to buy time enough to redefine and retool their business models? This would seem imperative if we are to experience solid and sustainable economic growth once again.

Major economic powers such as the USA and China have cooperated in trying to bolster their respective economies. It is apparent however that even if some successes are achieved,the real solution lies in cooperation with Europe and the other Asian economies if a true global recovery is to be achieved.

The question arises here is how long and how many times a country or banks would be able to prevent these debacle? Is our strategy of investment or portfolio being adopted is healthy enough to promise a sustainable growth rate. Surprisingly the recent G7 meeting couldn't find out feasible solutions.

The small investor having been burned by the recent slide will no doubt be very cautious as to when and where to invest any additional money. And well he should be until the political leaders of the countries most involved get together and put in place practices designed not only to reverse the current situation to prevent it from happening again.

All to often when we read the news about the plunging stock market we may feel unaffected unless we ourselves are players in the market. What is not always so apparent is the slowdown in the economy, noticeable loss of jobs and lowering of wages resulting from loss of share values. The average citizen needs to be aware of the effects of what is going on in the marketplace on his or her own well being. The road to recovery isn't just about saving major financial institutions but also about educating the average citizen about what this all can mean to him or her.