Recession is again knocking at the doors.
By DoctorDidi
@DoctorDidi (7018)
India
December 10, 2011 11:39am CST
Global economy is yet to recover fully from the shock of recession witnessed in 2008. But unfortunately, a recent UN financial report predicts a fresh global recession in 2012 and this crisis would be more severe in magnitude than that witnessed in 2008. India and China would be able to handle it more effectively as before in 2008 and would definitely be the least sufferers but Greece and Italy who are already passing through a financial turmoil may find it difficult to survive and may even collapse totally. Have you also heard of any such prediction? Can you explain the reason behind such frequent global recessions? Can you suggest any immediate remedy to tackle it and also any advice for a permanent solution? I not sure what steps would be suggested by the financial experts to tide over the ensuing crisis but as a consequence of our dreaded experience of 2008, we should all pray to almighty God so that the world may not have to witness another financial crisis again. As a common man, I cannot do anything more than praying to almighty God.Am I right?
4 people like this
12 responses
@vandana7 (98702)
• India
11 Dec 11
One good reason to be charitable is that excess hoarding backfires. We've seen in the past that such things have happened, be it French revolution, or any of the great civilizations. There will be revolts. In a way, some parts of the world will not be participating in this. Hunger can be a great motivator for crimes.
1 person likes this
@lovinangelsinstead21 (36850)
• Pamplona, Spain
31 Dec 11
Hiya DD,
Yes I think the only thing we can do is to let go and trust but it is not easy either. One reason is to never listen to the News very much on Radio or Television only to believe in yourself first and the rest later.
Outside of where I live everyone has been saying for ages that Spain is doing very badly and I believe them more than the Politicians that are here trying to tell us "FairyTales".
Not only Italy and Greece but this Country as well because there is no sound structure to fall back on except for the Tourism which of course is always welcome.
Constuction Business here is almost totally shattered.
You are right about trusting to God and no other this be still and let go thing is a good thing to practice though reduces the anxiety that they are forever trying to feed us with.
I have come from a hardy background with not much to eat when I was small so I have known what its like to do without and still do up to a point.xxx
@trinidadvelasco (11401)
• Philippines
11 Dec 11
That is totally bad news. Recession upon recession sounds so chaotic. This means more business establishments will be closing operations and thus, more people will be unemployed.
As it is right now, the picture of the world economy is till bleak although we are being told that recovery is already headed well and good on its way.
In this place where we reside right now, more crimes are committed. Robbery, holdups, thieving...petty crimes all because, people find it so hard to find honest money to bridge through daily expenses versus income.
@dorannmwin (36392)
• United States
14 Dec 11
I've heard many people talking about the fact that there might very well be a double dip recession coming up. I know that this is something that is terrible for most of the world, but this is not the first time that something like this has happened in the world and it is not going to be the last time that something like this happens.
I know that a lot of people suffer during a recession, but it is also during a time of economic downturn that some of the most important innovations are made in the world.
@anil02 (24688)
• India
11 Dec 11
Hello, you are right that we common man only pray. But the real reason behind it is use of natural sources. God gave us enough to live but not to misuse it. We are using natural resources in wrong way. It is the reason behind global warming. So we Indian can face it like in past because of our culture and tradition.
@blue65packer (11826)
• United States
11 Dec 11
If people in Italy and Greece would of been paying their taxes like they should of been and not getting away with it for years,there might not be such a bad recession being predicted! Alot of people in the US have retirement funds,like me, and we took a hit with the 2008 recession! Now will again becasue of the Europe ountry problems!
The USA still has not totally gottan over the last recession! The new one will undo what progress we did make! This is terrible and I will be pissed if this happens! I have had to pay for more for food,gasoline and other stuff. I am not looking forword to paying even more then I am allready and not getting a raise this year at work! I am so pissed as it is!
The USA still has not totally gottan over the last recession! The new one will undo what progress we did make! This is terrible and I will be pissed if this happens! I have had to pay for more for food,gasoline and other stuff. I am not looking forword to paying even more then I am allready and not getting a raise this year at work! I am so pissed as it is!
@louievill (28851)
• Philippines
10 Dec 11
Yes it's getting very frustrating, they solve one problem, then here comes another. It's like the financial crisis is all tangled up, it's so hard to fix and seems to have a domino effect from one country to the other and no human solution seems to work.
I agree with you doc, perhaps the world needs divine intervention before it's too late and I just found out something from the bible that I would like to share
2 Chronicles 7:14
If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
I really pray we all get out of this mess the the world is in right now
I agree with you doc, perhaps the world needs divine intervention before it's too late and I just found out something from the bible that I would like to share
2 Chronicles 7:14
If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
I really pray we all get out of this mess the the world is in right now
@Dominique25 (9464)
• United States
10 Dec 11
It is really sad all of these things that happened. But in the Bible God tells us that during these times there will be "critical times hard to deal with." Things are bad and will continue to get bad. But we can have hope and confidence that God will intervene and set matters straight on earth. Humans as we can see just aren't able to govern themselves. We can see evidence of that with the economy, wars, etc.
@WakeUpKitty (8694)
• Netherlands
10 Dec 11
To my opinion the recession of 2008 was never over.. we are still in the middle of it.
You really think praying will be of any help? I call that cheap talking. How about starting to help out others? Even if it's only one person. If you do that person good, can help one person, that person can pay you back by helping out someone else.
@Pushhyarag2000 (1416)
• India
10 Dec 11
As much as you say there is little that we can do as common people, I do not understand the intricacies of the financial system, even less global financial system. In simple terms though, there is no growth in most segments of economy like manufacturing, service or trade. Consequently there will be less jobs. There will be defaults to financial institutions & banks. Banks & FIs will tighten lending norms. Lower growth may hinder expansion in capacity so production of key goods may suffer and the ultimate effect is on inflation.
It is so dreadful! But I assume those countries that managed to keep the fundamentals of economy strong and placed restraints on lending for non productive purposes like India will be less impacted by this upheaval. Tht can be the only saving grace. But how long? I join in your prayer!
