[kuppan]

Despite all the measures , UK is in double dip recession...hope things will get better

[autocrat]

It seems to be an easy decision to make at the top to cut down jobs, but the employees who lose their job will suffer not just financially but also mentally. Even employees who managed to keep their jobs will feel insecure.

Is it not better to reduce exhorbitant CXO salaries, and accross the board pay cut, than send people home?

[mayankjha1806]

If things do not improove over a reasonable timeframe the CXOs are the first ones to loose their jobs. I have personally seen not less than six CXOs in my organization either loosing their jobs or themselves resigned.

Its never a easy decision to let go of people, some companies do it more ethically and ensure the financial burden is minimized depending on level, but one should understand the day we embraced free economy we signed up for this. The days of job security as our parents knew it are long gone.

[Ricci]

Originally Posted by mb_jg

A friend of mine got sacked from the Hyd location.
Overall, he has been a top performer for the last 2 yrs since he joined. He has a 4yr old daughter, a home loan, a car loan. Thankfully his wife works too, but he is worried as hell.
Things just came crashing down one fine day for him. It's hard to fathom the confusion & feelings at that moment.

Very bad thing to happen. This is the scary thing - you could be a high performing employee and still get fired, something that defies reason.

As someone said - the days of job security are long gone, but the prices of essential things are up and real estate in particular atrociously high. I had read on 2009 or 2010 that the recovery was temporary and the recession could be a double-dip one. I wonder who they knew/predicted this - if they knew it, why weren't economies better prepared, unless they knew it only because they were the ones causing it ?

I tend to think this is more of a concerted effort to keep people in debt and milk them all their working lives while also taking advantage of economic crises to confiscate property in case of non-payment due to recession-linked lay offs. There's always someone getting richer in a recession, need to find who.

[AltoLXI]

It is easy to understand the situation, if one understands the events leading to the housing collapse of 2008 in US. It is not the result of only one or two entities - it is the government policies, banks, MNCs, the credit card companies and most importantly people's greed that creates these situations. It happened in US, it happened in Europe and with "economic liberalization" why should India be left behind? With all the globalization in place and thriving, we will be sucked into similar abyss. When we expect and accept western lifestyle, we should also be ready to accept the ugly truths that accompany that.

Apart from this, very local to our country, some people like politicians, babus, industrialists will thrive even in recession. When black money is in circulation how can you expect real estate going down?

Amrika might may be great country but we should also learn from the way they live and NOT to emulate them. The ugly consumerism they advocate is no good.

I remember 16th century Kannada poet of North Karnataka, Sarvajna's vachana. (Quoted from Wikipedia)

• saalavanu koMbaaga haalOgaruM UnDante, - ಸಾಲವನು ಕೊಂಬಾಗ ಹಾಲೋಗರುಂಡಂತೆ saaliganu baMdu keLuvaaga - ಸಾಲಿಗನು ಬಂದು ಎಳೆವಾಗ kibbadiya keelu muridante sarvgjna - ಕಿಬ್ಬದಿಯ ಕೀಲು ಮುರಿದಂತೆ ಸರ್ವಜ್ಞ

"Sweet as milk and nectar it is to get a loan ..but when the creditor comes after you, ..its painful as a broken ribcage"

At the risk of being dubbed as old-fashioned - I believe always one should always lead a simpler life no matter what the temptations be, no matter how comfortable you are today. Nobody can predict what happens tomorrow.

Originally Posted by Ricci

Very bad thing to happen. This is the scary thing - you could be a high performing employee and still get fired, something that defies reason.

As someone said - the days of job security are long gone, but the prices of essential things are up and real estate in particular atrociously high. I had read on 2009 or 2010 that the recovery was temporary and the recession could be a double-dip one. I wonder who they knew/predicted this - if they knew it, why weren't economies better prepared, unless they knew it only because they were the ones causing it ?

I tend to think this is more of a concerted effort to keep people in debt and milk them all their working lives while also taking advantage of economic crises to confiscate property in case of non-payment due to recession-linked lay offs. There's always someone getting richer in a recession, need to find who.

[lambuhere1]

An interesting comparison of Derivatives Exposure

Derivatives - The Unregulated Global Casino for Banks

[lambuhere1]

Marc Faber: 100% Chance of Global Recession

Source : News Headlines

[lambuhere1]

Source : Rupee decline, wobbly markets and 'lowest' GDP growth highlight inept handling of economy by UPA-II government - The Economic Times


A question to chart followers. Is it a triple top pattern as seen in stockcharts ?

[sgiitk]

Today one FI called India a Gasping Elephant. All hope is gone till at least 2014. At least the other bunch have been woken up by the Advani rocket.

Now MMS is also under a cloud on the Coal Mines allocation. Of course CBI which is under the PM will investigate!

[Samurai]

This time we have had very lukewarm response to our recruitment drive. Upon some investigation, I found that most from the graduating batch (BE) of 2012 have received 2-3 job offers last year. I found it quite intriguing considering the state of economy right now. This means most of those job offers will not be honored when the graduates come out of the college.

[shankar.balan]

Whats the logic in Fuel prices in Union Territories being kept so low? If a premium has to be paid depending on the transportation cost, then should not the price in Chennai, Bombay and/ or Mangalore be cheaper than that of Delhi?

We have absolutely no one who can take charge and work like the CEO of our Country/ Economy and it is the tax paying middle classes that will take the brunt of any and every fiscal hit. The tax payers are like shareholders and the government is like the board of directors. As long as we keep idolizing the scum who are in power and as long as we keep promoting blind dynastic rule, we are doomed. At this rate, even the next 4 generations wont see any improvement the way we are going! Why should we be dictated to by a bunch of idiotic Septuagenarians and Octogenarians when by contrast, the majority of our population is so youthful? In the case of Indian Politics in particular, age does not automatically mean wisdom and youth does not mean the lack of it.

The super rich faux-agriculturists, actors/actresses, politicians, bureaucrats and others will get away scot-free and the poor, well things really cant get any worse for them than they already are.

It truly seems to be a curse visited upon one, if one is born into the middle classes in India. Maybe it is time for some of us to seriously consider emigration.

Originally Posted by sgiitk

Now we are heading for a faster downgrade with the petroleum ministry asking for a reduction in taxation in petrol. This can only increase the deficit. Howsoever welcome it gives me the creeps.

Reduce petrol tax by Rs 6 per litre: Oil Ministry - The Economic Times

[selfdrive]

Originally Posted by Samurai

This means most of those job offers will not be
honored when the graduates come out of the college.

Unfortunately I have been through this in 2001. The way that particular organisation HR treated it was very shabby. I lost about a year recovering from that especially as they had asked me to sign a contract. By the time they sent me the regret letter recruitment elsewhere had also frozen down. Lots of people lost jobs and with so many experienced CVs in the market no one was willing to recruit a fresher.
I wouldnt wish this on my worst enemy if there was one. Of course I hope todays generation are better prepared and have good advice than me in 2001.

Originally Posted by shankar.balan

Why should we be dictated to by a bunch of idiotic Septuagenarians and Octogenarians when by contrast, the majority of our population is so youthful? In the case of Indian Politics in particular, age does not automatically mean wisdom and youth does not mean the lack of it.

Perhaps because at the grassroots level in politics it is so filthy that no middle class salaried person lets their kid/ relative enter politics.

Originally Posted by shankar.balan

It truly seems to be a curse visited upon one, if one is born into the middle classes in India. Maybe it is time for some of us to seriously consider emigration.

Many of us already do. However, it is not such a rosy picture outside India either. Especially as many of our own schoolmates have been living there for ages now and job competition is high with most jobs being outsourced back to India.

I feel like an idiot now, extended rant here:
http://www.team-bhp.com/forum/shifti...ing-india.html

[download2live]

I definitely see a recession coming.
And this has more to do with the kind of governance we are having now.
The very basic fundamentals of economy are showing signs of weakness. This is very very worrying.
The govt has lost credibility. It has decided not to take any major decisions because it knows that its cadres will indulge in mega scams. Investors confidence has gone to dogs.
India is gaining a reputation of a country where "You pay the bribe and still the work will not be done". Remember the Norway telecom company?

Hopes of a early elections are also very weak. Every Indian is so eagerly waiting for 2014. I do not know what would they have done by that time.

Looks like middle class is only suffering. Rich are becoming mega rich. Poor I think have not seen any improvement in their life since a long time and hence are not effected.

What an irony. The Prime Minister must be one of the most educated we ever had. And he is from finance background too. And this is what we are in.

[ramzsys]

http://bakerinstitute.org/publicatio...ance-for-india

This, 'they' say, is the limits of the jugaad model of governance(and growth).

[lambuhere1]

Interesting Insight on Whats happening in China

why china is likely to end in a disorderly economic collapse - www.thebull.com.au