I am not left alone when entire world is babbling about the latest buzz word even more dangerous word. Obviously it is ‘Recession’.
As always when I heard this word first time in the early 2008 I didn’t realize its real impact (even now) would be huge like this. But latter on I start realizing as and when new bankruptcy and job loss keep mounting to new heights.
Though its kinda cyclic process during the course of financial era and we have collected enough historical statistics about the impact and recovery, we could not prevent this, yes we could NOT. When we ask why, the obvious answer from all around the world is ‘always its bubbling in a very unlike form’ I agree that. But what are the measures we have taken to prevent this? Is prevention measures really required? Are those prevention measures will stop us from taking high risk which interns stops high growth. As per my knowledge I feel the answer is ‘Yes’. High growth always comes with high risks.
Here I would take a moment to look at in a very optimistic way, instead of discussing all boring effects and impacts of this recession.
1. First and foremost, it gives us chance(or sometimes forces) to clean our entire financial systems once in a while
2. All conceiving and conceived bubbles are bursting one to the next; to my knowledge I would say real-estate as a classical example.
3. More holes in our financial system are coming to lime light, in which we can fix and come up with best legacy system.
4. It’s alerting that revamping our system to make it adapt to new generation time to time is paramount.
I have few crazy (more sensible) questions too…
- Where does all these huge money is being dumped?
- How dare this financial system which boasting itself allows to direct/re-direct money to limited hands?
- What are the measures being taken to find out and re-distribute this money? Merely I have seen only one attempt which was taken by Obama, in which he asked to pay 80% of their bonus (that they got from stimulus package) as a tax.
- Are all corporates really feeling this heat? I got this doubt because while giving pink slip to many employees, in side-line the same corporate board declaring triple digit bonus to its stake holder along with double digit growth. Don’t they feel employees are their back bone and it is indeed their sole responsibility to save them when they are in difficult time? They must remember that their employees also one among the corner stones to success of the company.
