Nepali Blog, Blog on Nepali News, Literature and Politics: Recession: save or spend?

My friend from London says that the situation is real bad in London because of recession. He works is a law firm and is a lawyer. And, In India, Someday back, I saw a paper which says that 50 millions jobs will be lost in 2009 worldwide. I just got a shock. I am in my job for past 8 months and when I read news that 50 million people lose job in a year, I have reason to be scared.

Recently, Prime Minister of India, Dr. Manmohan Singh, before he went for heart surgery, said that 2009 is really going to be worse. It would be worse than 2008. We saw later half of 2008, it suffered because of recession. We could feel this in our work place.

More frequently, less work and a lot of time pass has sent people in a shock and uneasiness.Life is difficult to predict. How this recession is going to affect us is beyond our understanding. The Reserve Bank of India's prediction that the Economic Growth hovers around 7% is another indication that bad days are going to come. At Some point of 2008, India was targeting GDP of 9% and now, we are to be contended with 7%.

What it means? It means a lot to be scared. Less amount of cash flow, credit crunch, lack of big projects, no job, not much tax collection, not much revenue generation, and in turn, less funding by governments in public projects.

Less amount of funding in projects mean the poor has to suffer a lot who depend on public schools, public college, public transportation, Hospital.

Another sector to suffer from this recession is both manufacturing as well as service sector. A lot of manufacturing units are being closed as exports and internal consumption has gone down. Similarly, services sectors like Hospitality, Tourisms are also suffering a lot. People are saving money, spending less and are preparing or bad days to come.

But less spending and excessive savings means inviting bad days in a higher speed. There is a vicious circle and spiral effect of saving, less spending and wanting more.

But, what option we have? I do not know Economics what it says. But, I am sure no economics/economists have clear answer on this. Shall we spend less and save a lot for bad days or shall we spend on everything and help economy to revive? What if I spend a lot and try to revive economy but my fellow neighbor saves everything and economy is not revived, and I also go broke.

What if I spend a lot and from there, my fellow neighbor makes profit like selling commodities to me and saves all capital and profits. I go broke but he enjoys his hard bad days and when recession is over, he comes back to the business to accumulate more profits.

Do any Economists have answer what to do in this recession times? Should we spend or Save?

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I have Copied this Article from Asis' blog wothout any prior PERMISSION. I hope that he will permit me to do this one and I hope that he will not comment here to remove this Article from here. I am not totally convinced about this viral Tag stuffs and do not really know how it will work. But, I hope that it works nevertheless. This is the fourth and the LAST ONE in this series of increasing viewers. My Blog can not consume more than this. I will be back with my own usual stuffs within few times. Please visit Blog pages of my friends Sajiva and(Ashish) http://alapot.blogspot.com/ as well and cerainly , do not forget to drop some comments here.

And sincere thanx to Asish and Sajiva for their much needed support and comments.]

SORRY FOR BEING UNETHICAL IN BLOGGING!!!

So surprised to see the ranking of one of my friends’ blog , who just started blogging last month only. She is far ahead than me in Technorati Ranking. I started 2 months back. Don’t get confused ‘em not jealous. But I just wanted to know how it happened?

I kept on googling through number of blogs and came to know that there was something which just boosts up blog ranking dramatically. In the race of competition, why should I only remain behind if know all. So I also did CTRL+C and CTRL+V in which I have good practice(neways ‘em also S/W engineer LOL…).But I don’t think it is ethical. Anyway let it be.

Here comes unethical part

Instructions:

1.) Copy and paste the matrix of “ViralTags” below courtesy of Founders Cafe.

2.) Substitute the Host Tag and one of the “Viral Tags” in the matrix with your anchor text of choice with your blog’s URL. Please keep anchor text to a max of 3 words to keep the matrix size manageable.

3.) When you get a ping back from someone that has your link in one of their “Viral Tags”, practice good karma by copying his/her Host Tag’s anchor text (automatically the associated link will also be copied) and paste it over one of your “Viral Tags” below.

4.) Encourage and invite your readers to do the same and soon this can grow virally.

Host Tag: The INNOVATIVE IDEAS OF OUR TIME

Important: Once I get a ping back from you, I will add your anchor text and the associated link you designate as “Host Tag” here, replacing one of the “ViralTags” from the matrix above. As more and more bloggers copy and paste this matrix, the more back links you will have with your anchor text. If everybody who copy and paste from your blog does the same, pretty soon this will spread and go viral. So, the sooner you participate, the more links with anchor text you will receive.

2 comments:

zoJanuary 30, 2009 at 3:13 AM
On top of the global recession already affecting campus recruitments, the Satyam scandal took away with it Maytas and PwC :( The current scenario is the worst students can find themselves in after such a long long time! I think everybody shud cool down n keep their fingers crossed :)we'll fall as well as grow along with the economy
Nepalese TravellerJanuary 30, 2009 at 3:41 AM
That's true ZO. Thank You very much for your comments. It is a really bad situation for all of us. New students are not getting job and existing job holders are also afraid that they may lose it on any day. We are not seeing much clients these days as there is not much adventure coming. Big Projects are not being implemented. No SEZ, NO new manufacturing Units, no expansion of existing Units etc. are placing us in a really difficult situation.

Thursday, January 29, 2009

Recession: save or spend?

SORRY FOR BEING UNETHICAL IN BLOGGING!!!

2 comments: