Thursday, October 09, 2008

Happenings

The Karthik Rajaram shocker has laid one fact bare - no one is immune from what's happening in the current financial crisis. Sure, one could always argue that he might have been mentally unstable, which is why he killed his hapless family as well. But it makes me wonder if we are likely to see more opting for this route out of financial ruin. Indians may be less immune to the economic downturn that currently believed - lifestyles have changed since the last downturn in 2000-2001.

The average young urban professional has a much more expensive lifestyle and much less savings than ever before. Add to this the huge EMIs on houses and leveraged investments in the stock market, and we are looking a potential disaster in the making. The software sector has been feeling the heat for the last 2-3 quarters already, and the next 2-3 could well be dark days for the industry. Things are likely to get worse before they get better. Brace yourselves, and stay strong!

On another note, here's a sure shot way of guaranteeing economic aid - grow a particularly nasty and resilient brand of terrorism and all those dumb western nations will form a group and continue to support you economically. Bangladesh, sub-Saharan Africa, are you listening? Starvation and death doesn't move the west anymore, except maybe aging rockstars!

1 comment:

CYCO said...

Well, I believe it is stupid to kill thyself and family, especially where there are easy ways to escape when you are living in the US. It is quiet common for people to declare bankruptcy - and start a life all over again. It is sad and pathetic to hear that a beautiful family's life has to end so tragically.