Economic bubble – man made greed

The great depression is in news; well I don’t want to add another comment to it. The entire world is bleeding because of the greed of the few. But it seems that nobody has learned. This economic bubble has hurt only the poor. The rich are still happy, but it’s the common man who is suffering.

The US Fed has bailed out big corporations but did it help the common man??? The story is same in India, China, EU or elsewhere. Big corporations and those criminals responsible for our situation were bailed out but not the common and poor. The government should increase the money in the common man rather increasing the bank balance of these criminals. We are hearing daily about lay offs, When a single job is lost, idiots not the lost of a single person in most case the entire family has to suffer.

The bailed out Companies are giving millions as bonus but the same time millions are starved to death because of them. Countries have reduced their humanitarian aid. There is a big crisis looming over billions on our planet. They will get less food, no medicine, and no protection. There will be more riots, more anarchy, more corruption, more hunger, more diseases and many deaths. Add the color of terrorism to this and the picture is perfect!

We have seen many beggars in rags struggling for their daily bread but now we can see the modern corporate beggars flying in their private jet and begging!!! Long live capitalism

Don’t our governments have any responsibility towards the common man or they want to save the ass of those famous??? Personally I feel all these criminals should be made to work without any pay and recover all the bonuses which they got from the sweat of the poor man. But who cares, the same people are appointed to rescue us from the mess created by them!!!

God Save us

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American crises & Indian IT companies

The great meltdown has begun. Americas top 3 financial companies out of business and the rest also in serious problems, share market across the globe tumbling down , in china almost 66 % and other developing countries including India up to 40% doesn’t provide a rosy picture of the financial situation.

Many asked me how it’s going to affect India in general and IT sector in particular. They were worried about the lay offs with Satyam leading the pack with 4500 layoffs. Frankly speaking even I am worried by the recent developments. But still there is some hope. The situation is not so bad.

The current crisis is man made it’s a long awaited correction happening in the consumer America. The problem is of credit crises and liquidity crunch. No major financial institution is ready to lend capital to others. The financial sector has lost the confidence. This is the reason the major national banks like Federal Reserve is pouring billions of dollars into financial sector to cool it down. (I know it didn’t strike a chord with most of you. Reading too much finance news? :D)

As far as India is concerned, she will also feel the heat but since the market is not so tightly coupled with US financial market, she can survive. For the next couple of quarters the profit margin of the major companies even IT companies will come down but then it has to go up. In this crisis everybody is talking of efficiency and improvement and the Indian outsourcing & IT companies are providing that to the world. As far as layoffs are concerned well that’s happening almost every year. Satyam might have given the pink slip to 4500 but they are recruiting around 12000. So that should cool you all.

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