Signs of recession

These are days of global recession. I don't think I have witnessed recession before in my life - This may mean two things : either I am quite young or had remained ignorant about economic issues for very long! You can guess yourself.

So, in the spirit of blogging, I thought of letting everyone know how to recognise that recession is setting in. What are the signs and symptoms of recession?

First and foremost, there will be more talk of bears and less of bulls. No, no, not in the National Geographic channel, but in all the business TV channels. The vocabulary in business circles will undergo some change. "Government should take their hands off from trade" will change to "Government should intervene". Flamboyant statements like "It is not Government's business to run business" will change to "It is Government's responsibility to bail out the sick units".

Words like "Morality of bonuses" will be discussed over and over again - but it is a different matter that the companies will continue to pay high bonuses even from the bail-out money given by the government. Frugality, cost cutting measures, caution, bench strength, extra work force, inefficienty will be acknolwedged as important issues to talk about.

The line dividing management and labour will also become unclear, I think. Even quite well-paid employees whom you would have considered normally as 'rich management guys' will claim themselves as poor employees and resort to strikes and protest demonstrations.

Another thing I noticed in the newspapers. There will be an Opportunities section in the print media, which gives details of job availability. There will be articles around career guidance and about work place situations. The focus of these articles will change from 'how to pick up bright employees' to 'how to lay off your staff humanely'. Or, from the days of 'multi tasking or doing two jobs efficiently at the same time', you will see more articles on 'how to protect your job in the face of competition' etc.

I wish these important issues continue to dominate our conversations even during boom times! Read this joke about a sarcastic dad recently.

Having landed a new job away from home, a young man wrote to his dad: "I have been made assistant manager, a feather in my cap."

Soon after came another piece of good news: "I am now general manager, another feather in my cap."

And, then the recession hit. "Have been laid off. Send money for train fare," read the telegram. The father wired back: "Use the feathers - fly home."

There are predictions that we have turned the corner and the recession is about to be overcome. But, again, history shows that the slowdown normally slows down very slowly. Wow!