Global Recession Hits Us Bad

Well Guys,

It's the time of global recession - a story we do not want to hear.

We have heard 'Rags to Riches' stories of many people, but not this story, which is rather like 'Riches to Rags'.

Nearly all Nations - Developed economies, developing or underdeveloped, are equally hit by this strong punch.

We all are related to or 'ARE' people losing jobs and not getting enough money to even earn money for our daily bread and butter.

I am writing all this because I am fully aware of this time and want to alert everyone - be he luckily employed, to start saving for themselves or kindly for the needy rather than to waste it on luxury.

USA - the most powerful economy is the biggest victim of Recession as of today, I just hope Obama succeeds in conquering it as it is related to the world economy!

As of me, an Indian - Have too tasted the bitterness of recession...There is food crisis here too which has made the President of India think of a second green revolution (Intensive Agriculture).

I have cut-down my expenditure on Travel and Games of course (My only addiction)...and have started saving it for the crisis we may face in the near future...I hope any of you readers with a foreseeing future like this will start saving or else we may land ourselves into rags.

Hope my rather vague views have helped us to introspect...Please share your views on this Topic...Thank you for reading!

Good luck for this horrid time,
HonestGamer.

I agree with you. But I have to say, there is no need to panic, it is difficult in the beginning, but when you get used to the recession, it is not clear how you're lived without it. For example, Serbia is in recession since 1980, and 1993 we received the highest inflation rate recorded in the history of the world and we survive it. In fact, the world recession will go round us, because we are already in recession long ago, so we know how to profit oneself by it.

Actaully, the global market took a dive today, despite the fact that the State's second stimulus plan wenth through... It's getting worse, and it will keep falling, at least for a while.

Thank you SalWE & AdmiralThrawn for commenting.

According to your comments...It is proved the whole world is currently suffering. As of Serbia (SalWE's Comment) - I just hope it recovers from this prolonged period and gets a good taste of prosperity.

Obama is currently paying more attention towards Control of Terrorism rather than Recession (He is doing right according to my opinion). So we cannot say good times will come soon - we will have to wait for it!

Finance is a thing that comes and goes, so I am not panicking (A part of role behind it goes to SalWE - thanks!)

Hope I get more reviews/comments on this Topic!

Regards,
HG

Obama's trying to divide his resources. Obviously terrorism is a big issue, but at the moment, there's no point fighting bad guys if the world's economy cannot support the massive drain on resources that control and saftey are responisble for.

@Thrawn: Well you know better of Obama, I report according to the News. I also heard that a few business tycoons in some street (I think Wall Street) took loans from the government and put it down to the drains (Wasted as I would mean).

Wall Street... pah... It's happening all over the world, and they're not throwing their bailout money down the drain, they're spending it on themselves and giving themselves raises. Self-centered pigs are more concerned with making sure they get more money than everyone else than they are with keeping their companies from going under.

There was some bank, can't remember the name, got something like $5 million bailout from the US Govt, and they spent $500,000 of it on a vacation for the top brass. Absolutely disgusting.

@AdmiralThrawn: Well I get what you mean, you must be hating them too... Its truly a disgrace to see this selfish people splurge at the wrong time...Specially when it is not their money (cheapest thing one can do).

I agree with a lot here, I personaly am not a Obama fan. His plan to spend trillions of dollars which his plan will spend more than ALL presidents before him. But I also agree with Salwe really no need to panic though just be smart about what you do and you will get through these times which WE ALL hope will be over ASAP!!!

I like Obama, but I'm thinking perhaps 4 billion is a bit... how do you say it, over the top? My god.

I heard recently that Dubai, one of those places people were all like, 'Oh, this place will weather the storm like no other. Dubai will never change,' is suffering almost worse than anyone. Something like 75% of the foreign nationals have fled. The real estate market went thorough the floor, dozens of construction projects have been halted or canceled altogether.

It's still getting worse.

Recently there has been a loss of 60,000+ jobs in India only!!!

And I have also heard that some guy in the USA has been sentenced to 150 years...(Please explain me what happened guys - seems funny)

He got 150 years in prison for defrauding several people/corporations...

I don't know the details. I'll check up on them when I get home.

That's silly because he is old and he seems to have only a couple of years left...If he even was a baby - he won't have lived 150 years!!!

why don't simply declare a life term???

'Life Term' doesn't really mean anything in this country. In the States, a life term usually means ~20 years, if you behave.

If he behaves is right!! We have a lot of criminals who are sentenced to several but with good behavior he can get his sentence reduced to nothing and walk scott free. please our law system stinks. Jails are like hotels.

GenPetra wrote:Jails are like hotels.

Except you get the taxpayers to pay your stay, instead of doing it yourself.

@GenPetra: What - Jails are like hotels???

I have heard USA has one of the most punishing jailers ever!!!

If you take me seriously, I would like to recount a truth - no offense to anyone!!!

It was the time of USA-Iraq war...Ofcourse USA won it due to its weaponary.

I saw jailers (American soldiers i think) captured many Iraqis and did the cheapest thing ever that was totally anti-islamic.

Well one of the prime accused was a lady soldier who was confronted and questioned by some news channel...

This was one of the prime dark patches in Bush's presidency - one of the most hated presidents in the world (I contest a poll)

Well this is a scene I won't expect from Obama...I think he is much better!!!

HonestGamer wrote:@GenPetra: What - Jails are like hotels???

I have heard USA has one of the most punishing jailers ever!!!

Depends on where you're locked up. Unless a convict is sent to a facility that exploits all the loopholes in the laws, he's pretty much going to be catered for. Under Federal law, prisons have to provide top-notch healthcare for their inmates (on taxpayer dollars, of course), at least two full meals a day, regular opportunity to exercise, ect. ect.... In fact there are some areas of major US cities (Los Angeles, New York, Chicago, ect.) that have a lower life expectancy than Death Row, for crying out loud.

HG what you have seen is military in action, not the state prison which are different. I agree with Admiral, it's all where you get sent but taxpayers pay for it

Yeah I agree state prisons may be different...