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| English: A graph of the Early 1980s recession in the United States. Blue line is Percent Change From Preceding Period in Real Gross Domestic Product (annualized; seasonally adjusted) Red line is Average GDP growth 1947–2009 Data is from the Bureau of Economic Analysis. (Photo credit: Wikipedia) |
It is quite seldom to miss the term RECESSION in a single day past a year. A verbal miss is definitely evened up with every click on almost any web page.
The effects of which are more pronounced than the meaning of the word itself. For sure the World collectively is in recession. Firstly it was the great economic power, the US.
Then came the next Eurozone; encapsulating its popular members within. I get to hear Germany, the largest economy in Europe falls into recession. Italy is in recession. Spain is in recession and headed for a very, very bad recession on all accounts because its housing crisis is accounted to be worse than that in the US.
London isn't officially in recession but it is all but contracting sharply and headed for what appears to be a deep recession.
France narrowly avoided recession by now; much to the delight of its government but it seems to be only a matter of time.
Very recently, Japan has officially fallen into recession, joining the Eurozone.
Looking for back home and the neighbourhood, China, Brazil, along with India, are all included in the G20. They are the economies that are still growing and potentially could get the world out of this mess and so there is a shift in global power implicit in that.
If at all India seems to be in a situation relatively prosperous than the major biggies, then I fail to understand why the Sensex behaves like the sleeping snail every other day. Not to mention, eroding my paper wealth to a mere quarter of what I had put in 3 long calendar years back
To put my disarrays at bay, I indeed had to Google up for the term RECESSION. Accepting to the Wikipedia’s definition, I am enlightened to the fact that “so when the economy has been contracting for two consecutive quarters – it qualifies to the technical definition of a recession”.
Proportioning it to my micro analysis, it means when the Country has not been delivering its agreeable targets for the consecutive quarters, it has receded or has become economically distant.
Hailing from the aggressively aggressive ‘Sales’ background I understand the similar repercussions on a quarter for a Sales Executive; to the branch he is located; to the organization; and most importantly to the face of the business.
Similarly, conforming to the same laws of proportion, the repercussions and the contingency planning for a country to follow is beyond my quantum of strategy and calculation.
My solace only lies in the fact that the World’s richest Indian has slipped to the second rank losing a lot of wealth, just the way I have.
