It is very rightly said " every action has a reaction." I'm talking about the financial crisis that the world is facing today.Globally and domestically we are been affected to the core.These global crisis have led us all in a state of helplessness, hopelessness, and with no solution in the near term.The result of crisis has led to a vicious circle of unemployment,low income, no demand, large losses.
The trickle down effect is deep rooted.The crisis has let to almost shutdown of the production units of various companies.Sectors like entertainment, auto, real estate to name a few.
The units are forced to shut down due to enormous losses incurred and no demand for goods.This has had the largest repercussions in the world, with the common man being the biggest sufferer.The country is already facing the acute problem of unemployment and poverty.With companies shutting down business , will add to more unemployment and no money with people to satisfy their bare minimum needs.
Common man is forced to live in a state of misery, as there is no money with people to afford the basic necessities of life. Demand for those things also decline and this further leads to incurring losses by those units and letting them shut down, and the process goes on.
The cut is deeper than what we can see or think of .To heal such a deep cut faced by the global economy we actually need a miracle.People are both psychologically and economically hit.The condition is to worsen further.It is high time, we need to react, this phrase will fade soon, if the country heads don't act NOW...
Wednesday, December 3, 2008
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