Some people have been asking me if all the talk of recession and hard days ahead is true or just a creation of the media. Well, my answer has been that it’s no creation of the media. Renowned economists are forecasting tough days.
Amidst all this a couple of days back I was talking to a senior official of an MNC. He had a very interesting take on this. He said what’s happening now is a correction to the absurdly artificial world we were all living in.
Money seemed to be there just for the asking. It fuelled greed. If some comapny made a profit of 100 the aim was to keep doubling it as quickly as possible. The industry was growing at an absurd rate. And it led to absurd recruitments.
Even success was given absurd meanings. Suppose a company made a profit of 10. Next session if profit was 8, it was considere loss!
It all seemed to be led by an abundance of money, which seemed to be growing at absurd rates.
Now money is in short supply. Where has it gone? I don’t think money was there at all. It was just a bubble. It has burst. The dust has settled. People aren’t hopping from company to company waving offer letters. Nor any company is blindly planning to expand when there is no scope for it.
The gentleman I spoke to was saying the world is now real. The slowdown has enabled that.
Yeah, every action has its reaction; This was bound to happen sooner or later.
True. We have been climbing up the flag pole with no rope to come down when needed. When we dry up the only way is to fall down. Let it fall down now than later.
OK, but how many are ready, willing or mature enough to see the writing on the wall?
(An example of the ‘loss in profits’ – A car manufacturer is hiking up prices because quarterly profits went down by 36% – http://www.hindu.com/2008/10/25/stories/2008102556601500.htm)
Right you are…. It was all hyped up.. but unfortunately some have become hopelessly materialistic(consumerised?).. and for them the times are bad…
we are now enjoying the prize for greed…unfortunately corporate greed..driven by the greed of stock owners asking for more returns…