Int'l meltdown result of intense human greed: Deepak Chopra

Excerpts from What's Hot on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets BSE | NSE 01/01/70 Are Mutual Funds betting on ?

Spiritual Guru Deepak Chopra said, the economic meltdown is global problem, so the solution to it is going to have to be global. He feels one is forced to recognise ones interdependence as a downside to the current economic climate. "A few years ago this was a philosophy, now it is a fact."

According to him, the corporate mindset has become used to greed, abuse, cronyism and influence peddling and bureaucracy, and now they have been exposed.

Here is a verbatim transcript of the exclusive interview with Deepak Chopra on CNBC-TV18. Also see the accompanying video.

Q: How can we get out of the economic mess?

A: I think a lot of us were expecting this to happen. The fact is that it should have been obvious a long time ago when you have USD 2.9 trillion circulating in the world markets everyday of which only 2% is actually providing goods and services, so there is something wrong with that economic system. About 98% of those USD 2.9 trillion were speculation derivatives. I have lent you money but because I am not sure you are going to return it to me, I sell the debt to somebody else who sells it to somebody else and so on and so forth.

Continued on next page ...