I still remember 15th September 2008 and how the media went on and on about the “next Great Depression” , way worse than the Dot Com Doom etc . The lotteries and parties which began in 2005-2006 seemed to be crashing like a pack of cards .
I clearly remember the burst of the Dot Com bubble in 2000-2001 and how it impacted job prospects for even the best of students and professionals for years to come . On the other hand , this time , more than 2 years after the nemesis predictors began waving their hands and yelling , this current so called recession doesn’t seem to have changed life at all . I think I’ve figured out what happened . Some people went around spending more than they had , using their inflated house prices as some kind of a checking account . And a few traders in the financial services went around gambling with what they didn’t have . And now at the end of it all , life is back to normal and way better than ever before . In fact even for the people in the investment banks who lost their jobs ( and quickly found new ones ) it was probably for their own good – Nature slammed a momentary brake on capitalism and said , you guys have so much stashed up , you can probably survive the rest of your life on your last Christmas Bonus , why not take a break ? So in short “recessions” are a forced break for people to take some time off from their hectic cycle of Corporate Karma .
Check out the number of soon-to-be-lucky guys at Facebook . Nowhere near the number created by MSFT and Google ( as of now ) ; but still a very good number !