The calm before the storm?
@scarletwitch12 (562)
Philippines
January 31, 2009 9:44pm CST
Just last week several multi-million dollar companies have announced that they are laying off people by the thousands. Many smaller companies have closed and the unemployment rate is astronomical.
What's worse is that many are saying that as bad as thing already are, we may just be experiencing the "calm before the storm". They say that the global recession is just rearing its ugly head and that things are bound to get worse before they get better.
What do you think?
1 person likes this
3 responses
@smartie0317 (1610)
• United States
1 Feb 09
While I agree things are far from over, I think we're either at or nearing the peak of this. I truly believe 09 will be the year to make or break everyone. So, if your job is on shaky ground, you might just lose it. However, I think early to mid 2010-2011, we'll see a better economy and more jobs. Despite this, it will take a few years to get back to where we were. Hopefully, most Americans learn their lessons and spend more responsibly.
@scarletwitch12 (562)
• Philippines
1 Feb 09
I guess every one is bound to learn their lesson with all that has happened.
I really hope that things get better soon. But with such great impact on the global economy, it is gonna take a long time to fix this mess.
@coffeebreak (17798)
• United States
1 Feb 09
Why should all these high rolling CEO's that put us in this mess learn from their mistakes? Fist, hey didn't make "mistakes", they just made bad, greedy decisions nad the government is bailing them all out... the government is buying all their bad debt and leaving them all free and debt free to just do it again! 9 out of 10 CEO's remain in their jobs! Will they learn? Why should they when they know the government will bail them out?
I was spending responsiblity all my life as many "main street" folks have. It wasn't us the caused this problem, but it is us that will be paying for it. And as usually, we will pay for it alot longer than the ones that either caused it or are contributing to it or bailing anything out.
They say it will get worse before it gets better, but then they say, end of this year should signal an upward climb for a "brighter" future for 2010. But those of us paying, probably won't see any relief until 2-3 years later after we have lost everything, worked our butts off to get it back for the big companies and then finally get some relief ourselves. I'm disgusted with it all.
@shoffman2000 (560)
• Alexandria, Virginia
1 Feb 09
there will be a economic depression worse than 1929 and this bailout stimulus is a scam. Putting people back to work will create a multiplier factor and possible taxing corporation that do lay off people such as Microsoft when they do not need to this would discourage this and give the greedy executives a wake up call.
@scarletwitch12 (562)
• Philippines
1 Feb 09
I feel that half of this crisis may be attributed to those greedy executives! They are the ones guilty of mismanaging several industries while stuffing their pockets full and now they turn to the taxpayer's money to bail them out of the mess they helped create.
@deepaksalem (37)
• India
1 Feb 09
Global recession have reached beyond its limit. Many in my country lost their jobs and even many large groups have slowed their fund releases.
But there is a good in this recesson, many products have cut down their rates. All of their life time dreams so called to buy car, houses their rates have tremendously decreased.
I think due to this global recession lot of things have changed.
@scarletwitch12 (562)
• Philippines
1 Feb 09
I agree. People are scared to spend money because they are not aware if they would still be employed the next day. The problem is that while people refuse to spend, the fewere products are consumed and the more products are unsold, this has a direct effect on companies who pu these products out in the market. If these comapnies can't sell them and they make less and less profit, the more people they would have to let go just so they can keep the company afloat.
This is a deep mess.
