In the nineteenth and early twentieth centuries, before the advent of prudential bank regulation and deposit insurance and before action was taken to ensure private money creation by banks was appropriately regulated, repeated crises did substantial damage to the U.S. economy.
This mixture, called “Ugadi Pachhadi” in Telugu and “Bevu-Bella” in Kannada, symbolizes the fact that life is a mixture of pleasure and pain, which should be accepted together and with equanimity. People traditionally gather to listen to the recitation of the religious almanac (Panchangam) of the coming year, and to the general forecast of the year to come.