Are we heading towards 1929 Global Crisis?

Morning 7.00 Manan Wake up and walk towards the main door to take News Paper. This is his daily routine. He take brush, while cleaning his teeth he reads paper. Today he feels like not to clean his teeth because of the news he read. News were,

Unemployment in US increased drastically to 10 years high.
Inflation in the world increases. In India it touches 13 year high to 11%.
Oil Prices are surging high to set a new record to $140/bbl.

This was a story of one person who belongs to Middle class and know what this means. Now a days we usually read this stories daily in news papers. News papers compare this crisis those with the 1929 global crisis. Do we are heading towards it? or this are worst then those? Do we able to come out of it? The answers are NO and Yes. No as we are not heading towards 1929 crisis. Yes as we will be able to come out of it.How we can say this crisis are not worst then 1929? The reason for this is that,
After World War - I almost every country in the world were in debt except US as they had not taken active roll in WW-I. After WW-I US was the only strong economy in the world. So when US economy went downwards there were no other country in the world who can support US to come out of it. Many countries in the world were dependent on US for supplies. and because of this reason crisis got worst.
But today the scenario is different. Still today US is Super Power but there are many Developing economies such as China, India, Brazil. Few years back their was only US who was teaching the world how to survive but today the countries like are teaching others how to survive in such critical countries. Few days back a meeting was held between 4 Noble prize winner Economist and every body has appreciated developing countries like India for their role in curbing this Inflation. Today US is not alone to fight with this crisis but their are many countries who are able to fight with Inflation.

If we want to survive from this crisis, we need more super power countries who can help other countries to progress. To achieve this developing countries like India, China, Brazil have to come strong and need to break US power. with this they are helping US to run world economy with out such crisis as in US this is 4th time they are facing crisis in 20 years which makes world economy less effective. To achieve high growth rate developing countries should work hard.