Warren Buffett maybe nervous, but we know better.

The global economy could fall into recession because of the trade war between the US and China, a currency war or an oil price shock which would "have a stagflationary effect , increasing the price of imported consumer goods, intermediate inputs, technological components and energy, while reducing output by disrupting global supply chains", wrote Prof N Roubini. China and the US may fall into a Thucydides trap in which a strong nation starts a war for fear of the rise of a weaker one. A white paper from the Chinese government "has publicly outlined its official defence policy" and "Even a cursory read suggests that this adaptation involves the ability to project military power across much of the eastern hemisphere," wrote an editorial in the Mint. That would surely be an unmitigated disaster for India. Last month US President Donald Trump ordered US companies to move out of China after Beijing imposed fresh tariffs on American goods. US businesses have invested $200 billion in China, Hong Kong and Macau and will suffer huge losses if forced to pull out of China suddenly, wrote D Fickling. Fears of a global recession is driving investors into the safe haven of the dollar despite falling interest rates in the US, wrote C Courcoulas. Which means, "Borrowing where rates are low to invest in higher-yielding emerging-market assets (known as carry trade) is futile if the dollar's strength wipes out gains. And it creates headwinds for large swaths of debtors in the developing world, where companies and governments rely on foreign funding for growth." Asian economies are facing lower growth or even negative growth through no fault of theirs. Factory activity declined in Asia and Germany in August because of falling exports, and in Britain because of uncertainty caused by Brexit. "CEOs across the US are offloading their stock options at a record pace, selling off stock worth $600 per day on an average in August. That will be the fifth month in 2019 when insider selling has crossed $10 billion. the Last time such heavy selling happened was in 2006 and 2007 -- just before the global financial meltdown." Eminent economists seem to have opposing views on whether there will a recession and what to do if there is one, wrote Prof V Dahejia. Despite dire predictions of a global recession "Madness in financial markets is global, and it shows no sign of stopping," wrote Prof Nageswaran and Natarajan. Both share and bond prices are zooming higher. "In the simplest terms, bond investors are screaming recession and credit traders refuse to hear it," wrote Potter and Lee. Some are paying attention. Legendary investor Warren Buffett is sitting on $122 billion in cash, while Google and Apple have each got more than $100 billion in cash. While even Americans are nervously holding on to cash our government has forced the Reserve Bank (RBI) to hand over Rs 1.76 trillion to go on a spending spree. As long as its rupees and not dollars.