Recession -Prepare for worst and hope for best.

Whether or not we are in recession now or will be in coming months, we have to prepare for worst and hope for best. This time main culprit for economy downtrend is real estate collapse and sky high gasoline price and credit card debt. Last time when I came to US within a year, tech burst happened and economy fall in recession, which was worst for Silicon Valley companies. Most companies in Silicon Valley went through several rounds of lay offs. But this time most of the IT companies sitting in huge cash pile so they don't need to go through lay off, may be some hiring freeze. We have to thank offshore and outsourcing model now, because most of IT companies saving lot of money because of offshoring, and helping US employees to keep there job now. Specially IT companies will not affect by this recession, may be some banks and real estate related companies going to affect.

By the way, playoff matches are over, as per my wish New York Giants and San Diego are in conference final. After several failures in last years, this year we are going to see some new competitions.

Comments

Anonymous said…
Well written.Recession, now being the most popular word among the presidential canditates.As you said, IT companies are not affected much but companies like chicago sun times,macy's etc are laying off as a part of cost cutting.Thanks to companies like Bank of America who are releasing some uplifting news in this down session , that they r aquiring struggling countrywide.Though this one thing doesn't solve the problem, well it's a good start...Hopefully the election next year might as well bring some goodness.In the mean time my prayers goes to the home owners who r facing fore closures.
8:06 PM
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