Open any newspaper, switch over to any news channel - it's discussions galore on the world financial crisis. So, who is the loser in this big game - the money spinner or the spender. Let us judge ourselves, as a common man, as to where do we stand today? The dual-income family with huge disposable money on hand, has had all the say in the life they have been leading. Brands, that were most unheard of, has become an individual's staement today. All's well when the going is fine. If the market continues to be hit for long, the impact is drastic on each one of us in its own way.
I agree with economists and experts who have been discussing endlessly on how the affluent class is the first layer to be hit in the current market crisis. Definitely, given the tightness in the money market it's time we thought twice before splurging.
With attrition rates coming down drastically, it looks like even the job market is turning sour to ambitious job seekers. Tips making its rounds - don't quit your job in a hurry. The market is weak, you will not get a good bargain. Do your best and try to save your job. Who knows what's going to hit us? Haha, it's like 'a bird in hand is worth two in the bush'.
Anyways, am no economist to dig deep into the subject. But the current situation is definitely an eye opener for all of us.
Wednesday, October 15, 2008
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2 comments:
Yeah by and large the situation seems to be pretty tight. particularly the job market in upstream companies and mnc's due to global meltdown. We have already senn what is happening in the aviation sector with kingfisher and jet laying off huge workforce.
But, one thing for sure is that the liquidity situation is not that bothering and also the fundamentals of the economy seems to be relatively under control.
The global phenomenon that is being witnessed is largely due to the greed of big financial institutions and lax regulations. To that count situation in india if far better. The banking sector, under strict regulatory regime is alive and kicking. That should be music to the ears of investors.
Ofcourse constant battering of the global pressure may end sucking our financial health and liquidity. But as long as the regulators and policymakers act in tandem, the situation may not get out of hand.
jagannath.
Rightly said.
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