What kind of recession is this?
Sometimes I don't understand the times we are living in. It's the sort of times when the media says there was a new case of swine flu and people start wearing masks.
So now I'm seriously wondering about this recession. They repeatedly said it's the worst recession since the 1929 Great recession. Really? How come that the iPhone sells like there's no tomorrow? From what I learned from history books, people in 1929 literally starved in huge masses! Yet these days I still see people continuing their lives the same way as before. And here's the problem:
Those who fared well before the so called "recession" are still doing well. And those who struggled before, are in the same position now or even worse.
As for my country, the recession began years ago. Slowly and subtly, affecting the middle class. It's so hard to find a good job as a young person these days. I'm talking about a job that would give you the chance to start a family, buy a house and a new car. Everything is so expensive these days! No wonder so many people have children when they're over 30 and still many live at home, because rents are very high. The rift between the poor and the rich is getting bigger and bigger and nobody was doing anything about it all these years!
Those who do well, don't care about it. And those who don't do well are too weak to help themselves.
People in the West are becoming more and more indifferent. That's no wonder, since we have to compete with others everywhere! You study, you compete. You try to find a job, you compete. You have a job, you compete again. It's a vicious circle! We're becoming very selfcentred, it's always me me me... Is this capitalism going too far? When did the solidarity and sympathy get lost? And what will we learn from the so called "recession"?
I don't think we've learnt much so far, because after the initial shock (driven by the media), we fell back into our daily routine and try to make the best of it. We just think I hope the recession doesn't affect me, I don't care for the rest. Because that's how it is in 2009. And we can only do so much to change the status quo. We just have to make the best of it.
[*I wish all of you good luck and hope that the recession doesn't and won't affect your lives.]
So now I'm seriously wondering about this recession. They repeatedly said it's the worst recession since the 1929 Great recession. Really? How come that the iPhone sells like there's no tomorrow? From what I learned from history books, people in 1929 literally starved in huge masses! Yet these days I still see people continuing their lives the same way as before. And here's the problem:
Those who fared well before the so called "recession" are still doing well. And those who struggled before, are in the same position now or even worse.
As for my country, the recession began years ago. Slowly and subtly, affecting the middle class. It's so hard to find a good job as a young person these days. I'm talking about a job that would give you the chance to start a family, buy a house and a new car. Everything is so expensive these days! No wonder so many people have children when they're over 30 and still many live at home, because rents are very high. The rift between the poor and the rich is getting bigger and bigger and nobody was doing anything about it all these years!
Those who do well, don't care about it. And those who don't do well are too weak to help themselves.
People in the West are becoming more and more indifferent. That's no wonder, since we have to compete with others everywhere! You study, you compete. You try to find a job, you compete. You have a job, you compete again. It's a vicious circle! We're becoming very selfcentred, it's always me me me... Is this capitalism going too far? When did the solidarity and sympathy get lost? And what will we learn from the so called "recession"?
I don't think we've learnt much so far, because after the initial shock (driven by the media), we fell back into our daily routine and try to make the best of it. We just think I hope the recession doesn't affect me, I don't care for the rest. Because that's how it is in 2009. And we can only do so much to change the status quo. We just have to make the best of it.
[*I wish all of you good luck and hope that the recession doesn't and won't affect your lives.]
15 KAFKAESQUE COMMENTS:
Its a good thing that no wars got started on the account of this economic depression. You are right, this economic downturn is not to the scale of the one in 1929.
September 9, 2009 10:58 PM
@The Envoy: Yes, that was my main point. :)
September 9, 2009 10:59 PM
yea, i hate it when ppl keep complaining that they have no money due to recession bla bla and the next thing u know, they're flashing the new bigass DSLR cameras or just came back from a luxurious holiday -_-
yes u see my point now, i blame it on recession, no marriage till i'm 30 or whatever because i'm never getting rich enough to settle down haha
btw Sharon still tops the loveliest name! hehe
September 9, 2009 11:41 PM
@Sharon: Hahaha... you are funny... yes, kinda weird that people spend like before...
Well, your name is lovely. It's so bad that I haven't put there Mei Li, I think it would top Sharon :P
September 9, 2009 11:54 PM
Great post! I hate the recession, so far Indo's worst recession is around 1999. Thankfully the current recession doesn't impact us as bad as they impact, well let's say, United States? But we've been there, really. I never wanna experience it again. People got fired a lot and sh*t, and with this modern economy, the rich's getting richer and the poor is just getting poorer.
September 10, 2009 9:14 AM
i have blogged a few times about this but i realised most ppl are not aware of the real issue at hand. well, i just think that ppl nowadays are very embedded into material stuff and they have lost sense on the value of money.
September 10, 2009 9:40 AM
@Andhari: You are so right :-( The rift is big and getting worse.
@zewt: I agree. Money for some is so important, especially spending it, showing off. In the end, it doesn't make you a better person.
September 10, 2009 3:59 PM
A lot of fiscal stimulus is taking place which gives false comfort. That is why we don't see, on the surface at least, the 1929 social slump. I hope we never shall. Once the stimulus is reduced then other social difficulties will be seen, over and above the hidden poverty that exists in the current time.
A lot of people have lost a great deal, others have benefitted in this latest recession. It was always thus.
This is the third recession I lived through, in their different ways they were and are difficult.
What you describe about the manner in which young people live, staying in the family home longer, unable to afford to own their own, or rent their own, is happening where I live too. Joblessness does exist, many of us struggle with that, many of us are cushioned, at the moment.
How you measure the differences between this recession and that of 1929 is difficult to say. I think the main measure has been the fiscal one, the consequences of the toxic assets that damaged the international banking system. The social costs are yet to be counted and they certainly will be.
September 11, 2009 2:02 AM
@ZACL: Good points. I only may add, that those who lost their jobs now, already struggled before, with jobs that had a very low pay. Some even had to have 2 jobs to survive while some others did well and are still doing well. Like you said: Some even benefit from the recession. Sad, sad...
September 11, 2009 2:38 AM
you won't do that to me!!!! not Mei Li! :(
September 11, 2009 11:15 AM
@Sharon: Don't worry, I was just kidding :)
September 11, 2009 3:48 PM
It depends on how people set up their mind. If it is negative side, then they think it is recession, regardless of high incomes. We should be grateful that we can at least eat and breathe. Did we think about the poor who live in Africa with less than $1 per a day? If we remind them, we couldn't say this is recession - Moreover, everybody should try to overcome little slight of decrease of their income.
September 11, 2009 9:34 PM
@Hwan: Exactly, Hwan. A very good thought. I mean, if the new iPhone sells so well, people can't be starving...
September 11, 2009 9:43 PM
ah yes, social darwinism. ain't it grand? i don't get that about the recession either. i see it around me.. and i don't know about you but, i am NOT participating in it ;)
September 12, 2009 6:43 AM
@floreta: Haha, good point. I am not participating, either :-)
September 12, 2009 6:51 AM
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