Wednesday, October 22, 2008

The side effects of recession

The 'R' word is out officially. The government has confirmed that 'it seems likely that the British economy is entering a recession'.

People dread the R word mainly because of the way it affects almost all walks of their life - and not in a good day! So if you are an average Joe suddenly finding yourself in the R whirlpool, these might sound too familiar for comfort.

  • You might lose your job, if you haven't already.
  • You postpone your annual vacation. You don't want to come back and find the bosses took the liberty to fire you on your first day of the vacation.
  • You are forced to cut down on your extravagant shopping.
  • You don't have the luxury of buying 'organic' groceries and veggies anymore as the prices are on a steep northward trip. If you haven't started collecting the coupons, NOW is the right time.
  • You forget when was the last time you ate out without worrying about the bill that's gonna be presented to you.
  • Google phone being launched? Well, the gadget junkie in you will have to wait.
  • Suddenly you are very much interested in thrifty ways of getting things done.
  • Your Prozac bills suddenly shoot up!
  • Planning to buy a house? No loan for you mister. Even if you are a 'super safe' customer risk wise! No one's a safe customer in these days!
  • Already own a house? You might need some extra Saridons to keep the mortgage headache under control.
  • Where there's a will there's a way. You pull out your children out of the private school. They have your smart genes and will do equally well in public schools.
  • Car broke down? Good riddance. The bus is more roomy and I get to snooze and read about the 'R' on the Economic Times.
  • Newspaper? Why buy when I can read it for free online or nick it after the guy in the bus snores once he finishes the puzzles page.
  • Toilet paper? No way! Water's better.
These are a few of the worries that the uglies - recession and credit crunch brings out in most countries. But in India, there are other consequences too. If you are in the wrong industry during a recession, it might mean that you stay single for a tad longer than you hoped to. For all the romeos who were hoping to get on the big-fat-arranged-wedding bandwagon and a get a good bargain thanks to their cushy job in IT, the table's suddenly turned!

And for those who are engaged, hold on tight to that ring....and the gal!

16 comments:

Admiral Fagin said...

I am going to complete my MBA soon and I wonder "Why me?" I hope the R-word doesnt turn into a D-word.

It took 16 years in 1929, I dunno how long will this take ....

~==[[[ Abhi ]]]==~ said...

I wonder what took so long for the govt to realise that the R word is actually right in front of their eyes. I really admire the way the European countries handled the thing, way too mature than the stupid bush administration that had to haggle a lot to get the bill passed. I'll miss seeing your vacation pics though :(

AK said...

wonder if it will help in family planning! :p

dinu said...

* Google phone being launched? Well, the gadget junkie in you will have to wait.

I am on a gadget shopping spree.. Was about to blow up another $2K.. you are making me think.. :-(

I was under the impression the indian it industry is kind of immune or will benefit from this mess.. But, yesterday one of friends mailed me that his wife almost lost her job.. kind of scary now..

Girl With Big Eyes said...

Admiral F,
Oh boy, not a good place to be in right? Let's just hope it wouldn't have a drastic effect on the placements. Fingers crossed!

Abhi,
Well, there are a lot of reasons. The main one being that once it is 'officially' declared that recession is here, people start to panic. It pushes the economy further into the a slow down state when people lose confidence in the marktes.
Btw, I have a lot of vacation books on travelling on a shoe-string budgets. So the pics should flow in as usual :)

AK,
I think it will. Scary situation to have a baby if you are living on the edge, don't you think?

Dinu,
It might not be applicable for you - it's only the average Joe who would feel the pain. For a hotshot like you, it would be a breeze :)
But yes, things are scary. Time to suck up to your boss :)

Sreedevi said...

Noted some tips from this post.

Cris said...

Good thing I have trained myself to be jobless for months! Now I am experienced!

Girl With Big Eyes said...

Sree,
Aha! Am sending you my consultancy bill!
:D

Cris,
Tell me how you did that please. Those days don't seem to be too far away for me.

Rinchen said...

All true! Especially the last one :)

Nikhil Narayanan said...

P,
Took a print out(ask Al Gore to take a hike).Thanks.
Lets face it, alle?

-Nikhil

Ravi Kumar said...

Haha.. I cud relate to that..last time when I was at the mall, i instinctively picked the Business World. Pondered for a few seconds and thought I could read it at the office library.. so unconsciously the R word is at work...

jj said...

sheesh why didnt I read this before I rambled!
Tough times ahead... you gave a real picture of what's in store.

Girl With Big Eyes said...

Rin,
Glad you are not in the IT profession, eh?

Nik,
Do we have any other option dude? :P

Ravi,
Aha! That means two things. You felt that it wasn't a good idea to spend on the magazine when you could read it for free at office. And that you have enough free time at work to read magazines!

JJ,
Welcome to GWBE's.
Spent some reading your rambling...wonder which one you meant?
Tough times...I am hoping that it'll be like on of those scary rides in an adventure park. You are scared before it starts, but before you know it - it's over!
Fingers crossed!

Macadamia The Nut said...

Moral of the story?
Go live with your dad.
:|
(I've never said I'm not shameless :D)

Rinchen said...

Hahaha... I guess :P

Girl With Big Eyes said...

MTN,
:)
My living with my dad won't agree with his BP :P