A word that has made the entire world shudder and bow down on its knees - Recession.
Recession is everywhere, prices are rising like the beanstalk in Jack's backyard, there's no job security let alone job satisfaction. People are annnoyed, confused and scared. Anyone who dares to dream about the future finds this poltergeist hiding in the shadows. But is that it? Is everyone a victim or are there people who are making most of this appehensive mood of the masses?
Nowadays, everything can be blamed on recession. Lay-offs in big organizations, bankruptcy petitions, higher prices, fall in stock market have been associated with it for a long time. But there are others. Noida Police attributed the suicide of a young woman to...well...recession. Colleges are hiking their fees due to...greed...no....recession. It is omnipresent. Everyone wants this nightmare to end.
Come to think of it, does everyone actually want it to end? Organizations are making a killing. Before recession, it was 3 employees doing the work of 4 for a good salary. After recession, its 1 person doing the same amount of work for almost no salary. He is happy just because he still has a job. Employees will work overtime without thinking about bonus pay. Do you think the companies will want the situation to change quickly?
In the market, the prices can be adjusted without counting the demand factor. Hoard goods, tell everyone its recession, hike the prices and enjoy the festive season.
Then there's the eternal excuse of having something to blame for your own failure. Humans like to have a scapegoat whenever they make a blooper. Recession's the panacea. Did not score well in exams, its the economy's fault. India lost a cricket match, recession affected the team's morale. Can't present your girlfriend with that romantic teddy. Ahhh, recession. Do you think we can let go of such a beautiful fabrication.
And they say, no good comes from a recessive economy!
When your neighbour loses his job, it is called an economic slowdown. When you lose your job, it is a recession. But when an economist loses his job, it becomes a depression.