The World's economy
By CRIVAS
@CRIVAS (1815)
Canada
January 11, 2009 10:39am CST
We all know that the world's economy is not doing as well as it could be. I have been hearing (like everyone else) about all the job cut backs and all the different ways that the Government is trying to come up with in order to correct the situation. Until yesterday though, I had no idea just how bad things had gotten. I spoke to a couple of my friends and either they themselves or their spouses have either been laid off indefinately, or they have recieved cut backs. It seems like there isn't a single person that I know that hasn't been affected one way or another. My husband and I went shopping for groceries last night and that's when it really hit home. The store was riddled with rock bottom prices, it seems like they have had no choice but to take a dive in profits in order to stay in business. It was actually a little scary, there are people panking everywhere I looked. I could believe how many people we stocking up on everything they could get their hands on, it's like they are fearing a complete fall of the economy. My husband and I are not as scared as others but we are making preparations for the worst.
I would like to know:
Have you noticed any big changes in your area?
What are you doing in preperation?
Do you think there is a reason to be scared of what's to come?
My husband works in a high demand job rigt now and even his company is making some serious changes. Their Christmas party, which is normally held in one of those big fancy hotels where everyone dresses up, is instead being held in the company hanger. Their Christmas bonuses were cancelled, and the people who were expecting rasies after their reviews, were told that those would be cancelled too. I know that a lot of people are complaining about it but the only thing my husband and I can do, is be thankful that he still has his job. I can't tell you how much it breaks my heart to hear that my friends have no job, no money and might not even be able to continue living where they are. My only hope is that things will work out in the end.
I would like to hear your thoughts on the topic and look forward to hearing what you have to say.
1 person likes this
5 responses
@lynnemg (4529)
• United States
11 Jan 09
In my area, there have been lay-offs and cutbacks too. One close friend of mine was just told that as of next Friday, she will be laid off indefinately from the job she was working. There are still some places that are hiring around here though, which is a good thing. So far, my husband is still working normal hours at his job, and his boss has told them that they have plenty of workl to keep them going, as long as the jobs are not cancelled.
I work for myself, and have lost two clients due to financial situations, but at least one of those was not due to the economic down-slide, she was faced with an old debt. I still have plenty of opportuinit for growth in my current field, thank God for that.
My best friend is in the HR department of a firm, and she has told me that things have slowed down a lot. She has had to lay people off, cut hours, and the sort.
I am not neccessarily scared because I have had to survive with little to nothing as it is. My husband and I have been to the point of robbing peter to pay paul in the past, and if we end up there again, we will get through it.
I believe that we all need to remember that when one door closes, another one opens. We may have to resort to our most basic of skills to survive, but I think we can do it.
2 people like this
@CRIVAS (1815)
• Canada
11 Jan 09
Thank you for the input, I'm glad that I'm not the only one seeing changes. I agree with you though, I think we will all manage okay and I think you are right about one oportunity presenting itself when another is gone. I guess we all just have to be responsible and prepare ourselves as much as possible.
1 person likes this
@suzzy3 (8341)
•
11 Jan 09
It is getting like that here as well my daughter in law works in a chemist ,her job hours have been cut and my son, her partner changed his job from rubbish collection to a driving job for a supermarket,as he was set to be laid off after christmas,they have four children to feed and keep. My son in law works for the family firm putting in new manufacturing machines and removing old ones and he has gone a while with no proper work although when he does he earns very well.A family over the road their business of property developing has gone broke and he is living off his over draft,the same thing has happened to another family I know and she is having to go the receivers she has lost everything,this lady like so many others started with nothing and to lose it all is heartbreaking.The shops are cutting their prices and almost giving things a way.It is really awful ,my husband is an HGV1 driver for a supermarket so he is safe as there are not enough drivers with his qualification any way and he has been in his job for ten years and if they wanted to get rid of him it would cost them a fortune,we only have two years left on our mortgage so if we can hang on we should be ok,the only thing is we have told our son he can go to university in to years time GCSE's at the moment then two years of A-levels but my husband said we will eat soup if need be.It is not until you go out into the world do you realise how bad it is,we live in the country and don't venture out to much,just watch the news but there definately is a depression going on,we lock our doors and sheds up tight desperate measures make desperate people,if I found someone stealing from my shed I would probably let them have something to sell.I am in England by the way,good wishes.
@skysuccess (8858)
• Singapore
12 Jan 09
CRIVAS,
2008! For the world, it was a year that emphatically reinforced all the old axioms about the evils of greed. Foreign bankers have brought the world to its knees. Casting prudence and good sense aside, they financed a buying binge that was probably unprecedented in history. Many people took advantage. Spurred by the availability of cheap cash, they allowed greed to overwhelm their senses. One house wasn't enough, so they borrowed and borrowed. And bought two, three, sometimes four. Banks happily fed the spending beast, and all that materialism and consumerism is now coming home to roost. The house of cards toppled, and now the pain has begun – and likely to last a while.
Hopefully, banks will be responsible in providing credit to allow businesses to function effectively. The lesson from the financial crisis of 2008 is not that banks should not lend, but should do so in a prudent manner and only to businesses that are genuine rather than hand out loads of cash to every charlatan who comes knocking on their doors.
Hopefully, in 2009 governments will see the value of private entrepreneurs and not regard them with undue suspicion. I’m sure they have been hassled by many get-rich-quick schemes, but there are just as many, if not more, genuine businessmen out there.
I hope everyone will take a grip of their own lives and design their own destiny. Don't complain, don't wait for handouts, go out there and make a difference. Don't be negative and have a real can-do mind-set.
Take care and all the best for 2009, my friend.
@mein_traum (132)
• Hong Kong
12 Jan 09
Sure. There are some changes for me as I was laid off on November. The management cut the cost tremendously either by cancelling the orders or by holding the production, or whatever ways they could think of. Although their products were not exported to those deeply affected regions, like America or west Europe, the economy downturn's impact on them was still very great. I heard people working in my industry repetitively say that the economy was very very bad. Of course. There are still companies that can make profits, but they are so cautious about spending money, and many of them have made their 2009 plan pending. Personally, I don't believe that trading/export market can be improved in the first half year in my country.
As to what preparation I make for this change, well, psychologically I am well prepared. I expected that something would happen to me, even before it really happens. For my daily life, I tried not to buy things that I don't really need and think carefully before I purchase, of course with some price comparison. Besides, I am trying to find out some other ways to make money, just in case I can't find employment within a long period.
Up to this moment, I am still thinking positively. I believe everything will have an end to it, no matter how bad it may seem now.
@balaajinr (32)
• India
12 Jan 09
ya the current world economy has become dull.. and for india the terrorist attacks and mr.ramalinga rajus 7000cr fraud has added tons of petrol to the fire.. lets see what Mr.Obama can do.. :) :)
anyway as we see in films everything will have a happy ending and lets hope for it..
