Seeing this post, please don’t think that this guy has got no other topics to write on other than “recession“. You won’t be thinking like that if you are present at this IT city, Bangalore. The hot topic being discussed by all people, here at Bangalore is obviously “recession“. The hot news today is that “Nortel” had applied for a bail out. This will be a shocking news for several major Indian companies because big companies like Infy, Sasken, Wipro and TCS are having Nortel as one of their major client. Its also heard that Nortel is planning for a lay-off.
Hearing all these, I have a big doubt generating inside my mind. Is the whole world running under virtual money? Many big companies are filing for bankruptcy. So where did all those profits gone, which they had earned for these all years. Is these big companies not capable of surviving even two bad quarters? Are the car manufactures like Chevrolet, who are in the industry for nearly a century, this much weak? Two – Three bad quarters and the entire company goes bankrupt??? Are the foundations of these companies this much weak? Really this is making me surprise. I was well expecting such kind of U-Turn in world economy, but was not having a single thought that it will make many industry giants bankrupt. Still the question exists, Where did those profit went?
Its time to find out who is the ultimate culprit for this economic crisis. Everyone here at Bangalore, including me, were living with a secured feeling that, the rising economy will feed us all the time. But the time had changed a lot within this last half year. News of job cuts at several companies coming out daily. That too in thousands. With the Satyam scam, another half a lakh job seekers coming to the job market, it seems like coming days are really gonna tough. If we think in other way, isn’t it funny that, some stupid Americans had took so much credit, and the whole rest of the world is affected under that. But we can’t blame them also. When there are lots of banks out there, who are ready to give you any amount of money you want, with very less proof of guarantee, everybody will take loan. Believe me, am still getting minimum 2 calls a day seeking whether I want any personal loans. When will these banks understand the truth and save this world.
The thought is still floating high in my mind. Where did all those money went, which were there six months before. So wasn’t that all Virtual Money? I hope the whole world, including me, will understand, at least now, that the whole world is running under Virtual Money. Or is it like the whole world is Virtual??? A virtual world!!!???