[aerohit]

It seems, is the first time Indians are using the word Recession in this country. Never before, in my lifetime I have heard the term "recession" in India. To me this is a fact.

Let me tell you - Recession is itself a product of American economic system, not Indian system. So lets not try to copy-cat terms like "recession". Indians have the tendency to psychologically get carried away due to "inferiority complex". Man, i have travelled across Africa, and even they dont have inferiority complex like indians do. (Due to this reason, I am starting to believe, that "inferiority complex" is probabaly not judged by economic wellbeing, but by social wellbeing of a society)


India needs to stop being a dependent of USA, and believe in its own economy. Why does everything has to be BPO or KPO like beggars?? Why cant you build your own quality industry/Brand?

The "recession" itself is a by-product of American economics which is made up of the system of over-consumption of resources and debt. Indian economy is not an artificial economy. It is built on the natural principles of human society - very old stuff!

Comon Indians! Believe in your country. We work far more hours than any other major countries. Obviously there is a flaw in the global system that allows an American to get paid more than an Indian for the same amount of work. This imbalance and 50-year-old-flaw is slowly changing for the good as the world wakes up and realize how poorer countries have been victims of "dollar" hegemony and unfair Tarriffs for a Century!

I was talking to Chinese people and they were so much confident and upbeat and faithful about their system and their country regardless of the reality they face.


Stand UP, raise your chest , and walk straight !! You dont need to bow down infront of a foreigner in your own country. You are a FREE citizen of this country protected by all its rights ! You are the Boss - you belong here! India has not done anything stupid so as to face recession of any kind. We live modest lives and will continue to live alike.

[Nitin]

Its a scary scene here in the US.I went through it myself,after 33% of the company got laid off.And this was a biopharmaceutical/drug discovery firm.Took me 4 months to find another job.
Every sector seems to be affected.Even the oil & energy sectors to an extent are slowing down( no hiring,and no firing or lay offs).
God help everyone! Wonder whats going to happen at this rate.

[CBlazer]

Originally Posted by Nitin

Its a scary scene here in the US.I went through it myself,after 33% of the company got laid off.

Here in Bangalore, I haven't come across any company using the term layoff. Some people are forced to resign, some are told they are bad performers. All that they get is a month's pay. So are people in the US getting anything more substantial for survival after a layoff?

While I totally understand their reasons to cut jobs, I don't understand policies of some companies. A person known to me and working in a firm with considerable exposure to Lehman Bros, survived a few rounds of layoffs. He's now got a hefty bonus! It's not that the company started doing very well or something.

[Elito11]

Well i have thinking of posting on this thread for quite somtime. Been out of work for three months now. The small BTL and events firm i worked for has almost folded up.

Planning to study for an MBA or some other masters degree.

Elito

[Nitin]

Originally Posted by CBlazer

Here in Bangalore, I haven't come across any company using the term layoff. Some people are forced to resign, some are told they are bad performers. All that they get is a month's pay. So are people in the US getting anything more substantial for survival after a layoff?

Typical senario: you get a severance package that includes paid time off compensation, and for every year that you had been with the firm there's a pay-range used.It usually equals 3-4 months of pay.

[ECM]

Aerohit
Yours is one of the best post I EVER came across since I started to surf internet.Today India needs citizens like you.We live in a society where people discuss what they did in the last foreign tour and other listen to them with wide open eyes and all other stuff.
Man Dil se I salute you,When I read such post it gives a cool feeling that our contry has some citizens like you who breath real Indian Air.Keep it up buddy.Your whole post I read 3 times,yes 3 times!

Stand UP, raise your chest , and walk straight !! You dont need to bow down infront of a foreigner in your own country. You are a FREE citizen of this country protected by all its rights ! You are the Boss - you belong here! India has not done anything stupid so as to face recession of any kind. We live modest lives and will continue to live alike.

[phamilyman]

Aerohit,

Your post is so full of rhetoric and so disconnected it is shocking.

I don't know which India you live in - but I know friends who've lost their jobs, friends who've had a major part of their savings in stocks wiped out, others who suddenly find their home loans a burden and jobs seem uncertain, small businessmen who suddenly find credit impossible come by and alot of others whose companies' future isn't sure anymore. And i'm not even getting onto the people whose hikes and bonuses have been taken away and salary cuts awarded instead with an exhortation ("Be happy - you STILL have a job!").

If understanding so many people's predicament is tough, the least one can do is not to give rhetorical speeches!

PS: Do give speechwriting a thought. Well written otherwise.

[ECM]

Phamilyman
For China it is true,for India hmmmmmmmm-question is did we have a real boom recently?Don't quote GDP,Export figures just look around and you will see many small scale industries are shut since last 2 to 3 years.Spendings were high bcoz of lower interest,people bought new cars house by taking a loan and not from own pockets,our elders used to tell us eat ghee if you have inuf money else use oil,sadly this turned ulta pulta due to westernised effects in our economy.
Man India is not a merger or end of show story,if we followed footstep of west it is our mistake and we have to pay for it.
To end this note I am quoting lines from one famous poem of Gujarat,hope somone will able to translate it in Engish with correct meanings.
"Chhe Garibo Na Kuba Ma Tel Nu Tipu Dohylu,
Ne Srimanto Ni Kabar Par Ghee Na Diva Thay Chhe. "

[amitoj]

Originally Posted by aerohit

India needs to stop being a dependent of USA, and believe in its own economy. Why does everything has to be BPO or KPO like beggars?? Why cant you build your own quality industry/Brand?

*snip* *snip*

Comon Indians! Believe in your country. We work far more hours than any other major countries. Obviously there is a flaw in the global system that allows an American to get paid more than an Indian for the same amount of work. This imbalance and 50-year-old-flaw is slowly changing for the good as the world wakes up and realize how poorer countries have been victims of "dollar" hegemony and unfair Tarriffs for a Century!

I was talking to Chinese people and they were so much confident and upbeat and faithful about their system and their country regardless of the reality they face.

Stand UP, raise your chest , and walk straight !! You dont need to bow down infront of a foreigner in your own country. You are a FREE citizen of this country protected by all its rights !You are the Boss - you belong here! India has not done anything stupid so as to face recession of any kind. We live modest lives and will continue to live alike.

Very well written post Aerohit.
And it would have been very applicable too... had we been under US rule and fighting for freedom!!

Pride and all is good to have, if you have food in your stomach.

Why India is facing recession? Because every growing economy is interlinked, alongwith the developed countries. Because its a free (relatively) economy!

As for the Chinese, well, they have to sound upbeat because otherwise they will be jailed!! In reality, they are sh** scared of India and their worst nightmare is industry and bureaucracy starting to see eye to eye in India. It is a fact that China is where it is BECAUSE of the state and India is where it is INSPITE of the state, and primarily because of the business acumen of the industrialists (now dont quote satyam case here)

And what you call "flaw" in the global system is actually called Arbitrage, and is one of the basic things a business looks for in order to be profitable.

Originally Posted by ECM

Phamilyman
For China it is true,for India hmmmmmmmm-question is did we have a real boom recently?Don't quote GDP,Export figures just look around and you will see many small scale industries are shut since last 2 to 3 years.Spendings were high bcoz of lower interest,people bought new cars house by taking a loan and not from own pockets,our elders used to tell us eat ghee if you have inuf money else use oil,sadly this turned ulta pulta due to westernised effects in our economy.
Man India is not a merger or end of show story,if we followed footstep of west it is our mistake and we have to pay for it.
To end this note I am quoting lines from one famous poem of Gujarat,hope somone will able to translate it in Engish with correct meanings.
"Chhe Garibo Na Kuba Ma Tel Nu Tipu Dohylu,
Ne Srimanto Ni Kabar Par Ghee Na Diva Thay Chhe. "

Boom time does not mean each and every entity will be making profit. Small scale industries that do not keep up with technology and do not have a finger on the pulse of the market will fold up in any market scenario.
Businesses are run on credit. Lower interest rates facilitate liquidity and benefits all round if the economy is healthy. Boom time means money is changing hands more frequently.

[phamilyman]

Amitoj ji,

very well put - I was too indignant to launch into a discussion

[amitoj]

Originally Posted by phamilyman

Amitoj ji,

very well put - I was too indignant to launch into a discussion

hehe... thanks, but the futility of this whole "debate" is not entirely lost upon me.

[nitrous]

Originally Posted by ECM

Spendings were high bcoz of lower interest

Since When??

[sanjayatarizona]

Originally Posted by aerohit

I was talking to Chinese people and they were so much confident and upbeat and faithful about their system and their country regardless of the reality they face.


Stand UP, raise your chest , and walk straight !! You dont need to bow down infront of a foreigner in your own country. You are a FREE citizen of this country protected by all its rights ! You are the Boss - you belong here! India has not done anything stupid so as to face recession of any kind. We live modest lives and will continue to live alike.

You did manage to speak with Chinese folks, in Bangalore??
Nice Rhetoric aerohit. Reminds me of the dialogues in Sunny Deol movies.

If you had been viewing any half decent new channel, you would have seen that industries as a whole have collapsed in China because of lack of demand(read US and partly EU) and hundreds of thousands of workers kicked out without any notices, unlike in India wherein you would get atleast a day's notice.

I think embarking on a discussion about the global nature of recession(pardon me on using an American term) would be futile here, Amitoj has already tried to do that.

Outta here..

[ECM]

I was about to reply someone's post but I can't find it,let me clear one point that I don't evey any IT guys why should I?IT ind.brought lot of foreign ex to India and lot of new economy boom took place because of IT sector BUT
Times keep ticking by,remember once upon a time there was a huge demand of Textile,mechanical and Civil engineers,then came telecom and IT,for 12 science student merit list used to go green towards IT rather than medicine or dental for constant 3 to 5 years due to IT boom.Here I am speaking non economic affairs to make my points understandable,now jobs are done almost,recession fear taking place here as well as in west,in comming next couple of years nobudy will speak of IT or telecom coz it has topped out,cheaper technology,fast processing,cheap labours,cheap hardware,tremendous competition from china and other asian countries will speedup.We have to live with the time.Golden days are already over,only those who have extreme capabilities will survive.IN old days some employee used to resigned from a company and open his own shop now this has become tuff,billing rates are down,botom line is thin on balance sheet due to several expenses shown or not shown in books,Forex is mad thanks to all advisors who mostly go wrong advising hedging.
We cannot live without IT or telecom,only thing is all these will be cheaper in comming days weeks months.

[sbasak]

India needs to stop being a dependent of USA, and believe in its own economy.

India is not really dependent on USA. May be IT and some other sectors are relying on too much on USA for business - but that's only a fraction of total Indian economy.
India already has a very big domestic market and Indian economy is more stable that European & American economies (which are often based on cheap credit).

Comon Indians! Believe in your country. We work far more hours than any other major countries.

Working more hours doesn't mean better productivity (unless it is a factory job of manufacturing something). It all about how much value you add to the economy and how competitive is your product.

Why India is facing recession? Because every growing economy is interlinked, alongwith the developed countries. Because its a free (relatively) economy!

Exacly! The whole world is an interconnected global village now. So if a butterfly flaps in Amazon, it can bring a typhoon in Pacific.

t is a fact that China is where it is BECAUSE of the state and India is where it is INSPITE of the state, and primarily because of the business acumen of the industrialists

I'll second that. Remember that, when UN was formed India was offered a permanent seat in security council but some idiot politician gave it away to China! They have a single party government. The bad this is that they can force people to work for food & shelter only without paying any money (they do it anyway). But the good this is, good decisions are implemented there much faster where in India, it becomes a debate between multiple political parties.