Recession put our economy in tail-spin; risk has now become a routine aspect of life. As companies are forced to lay off their employees, people are struggling to withstand economic hardships.
With prices of daily-use commodities sky-rocketing, the common man is the worst hit and is forced to cut costs. Those who have taken loans are now under pressure to repay them back. With no proper money flow in the market, people are learning to become tougher and are spending carefully.
Vacations have become out of question and youngsters, who used to spend lavishly, are now cutting down on their partying ways and bringing a change in their lifestyle. Almost all the sectors have slowed down and stock markets are in a mess.
Recession is creating havoc in the society; the situation may get even worse as it continues. The question is that how long will it stay?
With prices of daily-use commodities sky-rocketing, the common man is the worst hit and is forced to cut costs. Those who have taken loans are now under pressure to repay them back. With no proper money flow in the market, people are learning to become tougher and are spending carefully.
Vacations have become out of question and youngsters, who used to spend lavishly, are now cutting down on their partying ways and bringing a change in their lifestyle. Almost all the sectors have slowed down and stock markets are in a mess.
Recession is creating havoc in the society; the situation may get even worse as it continues. The question is that how long will it stay?
9 comments:
As you said, people will think twice before spending unnecessarily. Monthly provision expenditure has doubled now. Life is getting tougher day-by-day.
The youngsters who have been selected for jobs in campus interview, are still waiting for the call. Some minister in the US said that if the companies over there are reducing employees due to recession, H1B visa holders should be sent home first - Indians will be the most affected. Still, I feel the recession impact is less here than in the US and the UK.
Anyway, this phase will go. Tomorrow is a new day! Good luck to all of us, Sai!
No one can say, we can just hope.
But if it does work out in the end, I would say it's not all bad, like you said people are more careful with they're spending. If, after we get a better hold on things, that carefulness stays, we may be able to avoid another situation like this one.
Mfire
@Sandhyaji: I express my gratitude for your opinion, thanks for taking time and writing such informative points.
@Magenta Fire: Thanks for your opinion. Yes, it’s quite difficult to predict what the future holds. Let's hope for the best to happen.
ya, this recession is casting a grim a shadow on all of us.
the economic recession, which started in the US, spread to Europe and Asia.
now it is forcing a change into the human psychology, i.e., to become conservative.
Well the bright side of recession is that you spend less on the things you do not need and are more rational in both your spending as well as investment outlook. The other bright spot in recession is that it is very much like manthan. It removes the weak and corrupt banks and industries and only the strong and worthy survive. An industrial Manthan of sorts.
yeh man, dont get angry boss. i favour this crunch situation. know why? the greedy builders/property developers took people 4 a ride for 2 long. now divine justice is taking effect. prices will come down 4 sure..dont worry. just work hard, smile and let's all face the hard times together..btw, thnks 4 highlight the satyam staff plight in yr comment..
I thank Soul Searcher, Ramesh and Sandeep for your respective opinions on the situation.
Well, that was the most optimistic view of the recession. You guys share such important points, thanks a lot.
Hello Charan,
Generally I don't look at recession as a bad thing. Of course it affects a lot of people in an unfortuate way but it also makes people stop and think. We tend to believe it's great while everything is booming and people feel they can spend, spend, spend...But that can't go on forever.
Just like a cup that can only take so much liquid, once it's full it overflows and there's a lot of waste.
If we have less and struggle a bit it only enriches us with the important qualities of life. We slow down and take time to enjoy that what's really important in life: The things that we can't buy with money.
Dear Margaret,
I express my thanks for your informative opinion on recession.
Yes, you are right, spending money has a limit and the example of overflowing cup is really nice.
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