Waiting for the light to arrive ,but the dark tunnel of recession is not ending!

Well most likely never, at least not totally. (this means it could get better or worse but not like our past affluent days) There are two major obstacles, high oil development prices and escalating debt. Debt may not be as bad as it sounds if the GNP grows in proportion to counter act it. However, GNP will most likely not because of an unavoidable recession downturn. The other obstacle to growth is oils, something we continue to be dependant on. Alternative energy is not catching on as quick as it needs to. If we lived in a hydrogen electric society it might be different but we don’t, at least not yet. Another alternative to better living conditions is possible but it is not readily acceptable. Perhaps, in the distant future it will be. In our present age the economy is the buzz word while in a future generation earth resources/environment might be - leaving our obsession for the economy in the past. This kind of futurist society however would mean a total rearrangement of our money systems not something many are willing to give up. now... HOW’S THAT FOR X - SPIRTS?

Gaurav beta You are a sailor, i can feel how hard that job is and how difficult to get a good job, but till one gets a better job, he she has to stick to it, telling there is light at end of tunnel is kind of illusion.

I was waiting for the news of a triple dip recession, we heard from the government that this country has hit a double dip recession, and yet there's still no sign of us getting out of it, companies and stores are going out of business seemingly on a daily basis and there's still mass employment, admittedly this cannot be fixed over night, but there's still no end in sight, and still no light at the end of the tunnel. It is extremely worrying, people are losing their homes as well, and yet inflation is rising as to is the price of gas. I really think we need a change of government, a strong government who doesn't stick their heads in the sand and hope the problem will go away. It won't!

it's kind of funny that you post this, because a stock broker at the bank was trying to convince me to put all my savings into stocks. he was trying to say that the recession was over.

While technically, India is not counted to be among recession, and in fact one of the fastest growing world economies at 5-6%, in spite of slower growth rates than what we were having from years 2004 to 2008. The reason for this is that at a basic level our economy has been under-developed, with low ineffeciency marking agriculture and manufacturing sectors. Services sector has been better, mainly because it has grown due to 1991 liberalization process. Yet the 5-6% growth rate hides a potential pitfall- increasing domestic and Multi-national corporations' competition forcing many companies to cut down on employees whenever things go downhill for them. The scenario is different from that in developed countries. People there also loose jobs at times. Yet there are a lot of differences in the way the social and economic climate is: 1)Socially and historically, they have been more accustomed to changing, loosing and getting jobs again. They either have another vocation, or lifestyles which accomodate breaks in careers, or jobs. In India, unfortunately, job losses can lead to financial stresses, fear of downgraded social esteem, and increased health disorders, especially mentally. There are some changes, but not fast enough. 2)Lack of social security and unemployment Net- In many countries in West, especially European countries and to some extent in United States, people get a reasonable unemployment allowance, even if they are out of job for long times. This has not been feasible in India so far. However, I believe it can be done if corruption in government funds reduces to almost Nil. :)- Well looks like a dream! 3)Lack of emphasis on developing self-entrepreneurship or vocational skills which can help one during times of recession or job loss. With the kind of social, political and economic atmosphere we have in India, it looks unlikely that things will get comfortable. So, our tensions on saving our jobs would remain. What we need is a social and political system which does not worship those with great political power and those who are very famous or super-rich. Perhaps a series of awareness campaigns, and lot more equity in the way we treat persons of different bank balance and wealth.

Patience. There is light at the end on the tunnel. One of the reasons for all the job losses has been that the housing market has been shut down. I see more new housing starts than I have in years. Further, the banks are starting to realize that if they are going to make money, they will need to loosen up a bit. All this speaks well for the economy. Oil price is the wild card. The high energy prices started all this mess to begin with. They could stall the economy. Little do the oil companies realize is that they could make more money in the long run if they would allow the economy to get back on it's feet again before raising those prices.