Recession

With companies falling all over , oil companies putting up countrywide strikes and transport business also taking a backseat, it seems to be like the time has come that we stop taking things for granted. One of my senior colleagues told me in December that economic depression is one hell of a mess up and to know how the mess up affects everyone, it has to be experienced. Like for all other matters, experience is the best teacher and no matter how perfectly theoretical you are, you have to have experience. I have heard people talk about the times during the 90's when things were bad, employment was a boon and voluntary retirement schemes were a sort of consolation prize. Things improved, economy boosted and IT sector BOOMED in India. Salaries increased, share prices rose, companies started earning huge amounts of profits. Even the no. of Job placements through colleges increased. At the peak of this scenario, we graduated, got our respective educational degrees and good jobs. My father used to tell me before (when I had just got a job) that "The market is good. Take advantage of it, switch over as soon as you have minimum required experience to a better job." We even had plans and dreams for the future. Do we now have to say like old men do........."Those were the days" ???Will situation be so bad in the coming year? Good economical situation of the country and upmarket is something which we had taken for granted because we had never been in an economic state of turmoil since the time we had actually started understanding 'economics'.
It all started with Lehman brothers in the United States. Downslide started. Today we hear of Satyam (although it isnt exactly related to recession, but comes during a phase when every big collapse is being related to recession!!!) Also we hear of Indian oil going on strike. The transport strike is also going on.
As soon as we heard about the strike we started telling each other that petrol has to be filled in our vehicle's tanks. When I reached the petrol pump today I saw a long queue. It seemed that everyone in town had the same idea!!! Just like we stand shoulder to shoulder in a mumbai local, Cars were lined up, bumper to bumper, bikes were lined up, tyre to rearguard. The usually jolly petrol pump personnel who greet me everytime (They know me by now....I have filled up petrol quite a lot of times there......." Kyaa sahab, kaise ho? ") had guant, tired and haggard looking faces, they had to manage so many vehicles and non cooperative jerks who break queues. It was chaos and after 20 minutes (which was less.....seeing the no. of cars and bikes) my bike tank was finally topped up. It was then that I thought, "Cheeezz, it takes only 2 minutes to enter the petrol filling area and fill up petrol..........."
Quite apart from all the recession is the situation that crude oil stocks are depleted totally..........what will happen then? Many more things.......but then its enuff 'depressing' stuff for the day.........