Recessional Atyachar

Just few days back I had a chat with my dabbawala who brings dinner for me daily .He told me to pay next months bill in advance as he was not having enough cash reserve to continue his business. I asked him the reason and prompt he replied, "Dada khub kharab avostha, lokera payment dichena...IT sob sesh na"(Situation is very bad, people have started defaulting {often used word these days} there payments...IT has doomed).

I started wondering how these small businesses, which were thriving at the backdrop of IT/economic boom all these years have been affected by these recessionary changes brought about by sub-prime Crisis in US. Perhaps similar affects of this are being heard at every nooks and corners of this globalized world and no country is immune to it. Enough is already been written about what affect this economic crisis is having in the economy. You pick any days Economic times for last 2 months and you will see the looming image of it everywhere.
















Seen here..Disgraced, Lehman Brothers chief Richard Fuld, in tie, is heckled as he leaves Capitol Hill.

Few Months back on a Sunday morning, after Lehman Brothers filed for infamous Chapter 11,I came across an article in The Hindu which was kind a RCA (Root Cause Analysis) for me to this whole crisis. I search for that article again yesterday and thankfully found it after a little hiccup. Check this article "When the bubble burst" which explain rise of this crisis without much economic jargons. I believe, it certainly deserves a look.

As for me, I haven’t paid the advance for the Dabba as I recently moved from my single room to 2BHK flat that is having kitchen. Only problem is now I am also facing the music of this economic crisis with no notable changes in my monthly payslip, souring expenditure and a rapidly depleting cash reserve. Its kind a "Inflation at the time of Recession" situation for me which is very ominous.


At last all I can say, "Is anybody listening?” (Pun intended for Concerned Authority).