Even though, recession has been viewed as a curse by many people, in my view, it was a necessary thing to happen. And did some good too for every one, in its own way.
Ever thought, when you are sick, you eat healthy food and follow a healthy life style for that particular period.
You eat fruits, sleep on time, do not spend lot of time on the computer, etc.
Basically, you try to get things right, in order to get well.
However, as soon as you get well, you stop doing the correct things, usually.
Recession is like that period, when you are sick, it is the period, when the world economy is sick.
So, what the companies do, in order to get over and survive in this period is that they try and do things which will help them do so.
Like, they start cost cutting, and they stop doing things which will worsen their economic position.
This also involves taking an objective view on things. Taking those hard decisions. Being more committed to success.
Because, when things are rosy, no one cares, about such things.
Many people who have lost jobs, and do not have savings to sustain, have learnt an important lesson about saving for the rainy days, the hard way.
Also, they have learnt to work harder at their skills.
Banks, will now lend more responsibility, etc.
All these things, would not have been possible. As when the economy was strong, the stock market making new highs, people were spending, borrowing like crazy.
And lot of the borrowing was for buying cars, even when they had one which worked well, buying those designer wear, etc.
Basically, people spent money like crazy.
But, when the things started to turn ugly, reality caught up with them. And they were not prepared.
Bottom line :
Recession wont stay forever, but the lessons that it has taught must be remembered. And we must remain level headed to decide more objectively about things, rather than getting carried away by success.
