Global recession

18 Feb

Information technology had a boom in the year 2005 especially in india but suddenly because of the global recession it has seen a sudden downfall in it’s vigorous growth and recession in united states has affected the software companies around the world with big banks collapsing in united states most of the software companies there are in a state of closing there doors.Countries like india which where dependent upon projects from the US have also seen a sudden shake in their foundation with recruitments going down salaries being reduced people who are in working in software companies are facing a real bad time since the mid of 2008.Not only software companies the global recession has also struck people in share marketing,real estate,oil companies,iron and steel companies etc.And ultimately it resulted in the increase of commodities,increase in fuel price etc etc.exjfklimaa2-medium3 don’t panic! Do what is wise.
The recession looks very eminent. It is really time to take pro active steps to avoid a painful time in the next two years which is how long the is expected to last.
Suggestions:
1. Avoid taking loans and save money as for future use
2. Pay your personal loans as debt collection will be more severe.
3. Sell your stocks with a reasonable profit don’t expect more as the market situation is dull.
4. Take money from Trust Funds.
5. Don’t believe in huge sales from customers.
6. Don’t invest in new capital.
7. If you are going to sell properties,car etc do it soon as the price is going to fall by a big margin.
8. Don’t use credit cards for silly purposes.
9. Don’t change jobs, as companies have stopped recruiting and have started to reduce their man power.

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