Is the Recession over?? The market pundits and analysts say , the economy is slowly picking up ,, things are getting better . But !! are they? .
My personal view is that no they are not !! . My reasons are as follows
1) Banks have lost billions and billions of dollars ( well these are people's money ) , then they have been bailed out by federals by taxpayers money(again people's money ), so it appears they are doing good , but in reality people have lost money both ways as Taxes and their investments too .
2) Banks are still issuing huge bonuses and paying Ceo's exorbitant amount of salaries all with " people's money.
3) Banks have stopped making profits long time back , they still don't, why they show as profit is nothing but debts owed by jobless people which cant be recovered
4)Look at the prices around us , let it be gold , real estate or even basic food commodities everything sky rocketed due to the artificial boom but even after the bubble bust , they remain the same , but jobs were lost and homes were confiscated ! People without jobs or even people with jobs are struggling to make their ends meet !.
5) Jobs .. as they came they went!!!! .. Right from top executives to Junior rank people where hired and sacked like herd of sheep, people are traumatised , depressed because of this , trust me the jobs are not back especially with people with multiple degrees or who were with space figure salaries .
6) The unemployment rate continues to be the same , only few companies have started to recruit , but companies like Ford which underwent major restructuring cannot afford again to provide so many jobs again.
7)Beware!! this recession might happen again as most of the economies are running on borrowed credit and most of the financial companies are playing the same credit revolving game !!!!
8) Today's world has inherited three to four costly wars and hostile neighbours , and countries are spending trillions of dollars on them again our money!!!!
9) when a President says Bankers are like sports person , that we cant ask them why they are getting paid so much !!! wow is ays so much about the control on the institutions!!
10) Lalit Modi should be asked to drive the world economy !!!! he will surely ensure that there is no Recession hereafter
People just stay alert and don't fall prey again , spend wisely and save wisely!
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