About three weeks ago, I got my first PROPER job. Since I started, I have had absolutely nothing to do! As a result, I have been reading online newspapers – as you do! The things that have been dominating both the local and international news at the moment have been i) global recession and ii) the American election. Here is my 2 cents (or perhaps 1 cent!) worth…
As I don’t understand economics AT ALL, I spent the first few days at work reading “How banks work” and “How the stock market works” on “www.howstuffworks.com”. (You try sitting at a desk for 8 hours straight with no solitaire to play!). I can’t say that I understand it all but I think I “get it” more now than before. However, I don’t believe that I understand economics enough to be able to make an informed decision on what is the right thing to do as an individual.
I guess if bad debts are what caused this mess than all I can do at the moment is spend no more than I make and save for a rainy day. I guess that is pretty much the philosophy of most Indians living abroad anyway. The quote of the day in my Tamil calendar reads, “Indru nee thevai ilaadhadhai vaanginaal, naalai nee thevai aanadhai vaanga mudiyaadhu” which roughly translates to, “Today, if you buy something you don’t need then tomorrow you won’t be able to buy something that you do need” I think the quote to an extend highlights the general Indian mentality – or perhaps I am generalizing too much?
I still don’t fully understand how all of the above is connected but I can see that it is. Perhaps I need to type “Economics” into Wikipedia and see what that returns. (I did read “Economics for Dummies” which was helpful but the current global financial mess isn’t any clearer to me!) Perhaps I should just accept that I am never really going to understand economics fully and therefore I shouldn’t bother.
With regards to the American election, I have become an Obama fan – more out of revolt for McCain and Palin (both of whom provided me with hours of comic entertainment!) than out of love or pure admiration for Obama. I would like to think that
However, ahving someone who can see the flaws of the country has got to be a step in the right direction... surely!
2 comments:
Yes, our economy is struggling, but I personally don't think it's half as bad as the newspapers and stupid shows like TodayTonight and A Current Affair make it out to be.
The whole world is in a slump at the moment, and the US is faring the worst out of all. It is affecting everyone else.
Australia has a pretty stable banking system. The big 4 banks are solid. I don't think our economy is going to be anywhere near the US. We are more stable.
They complain and whine and whinge about the $. But what goes up must come down right? Yes, it's the worst in like 20 years or so, but it'll climb back up. The economy goes up and down all the time.
I'm glad that Labour is in power. I trust Kevin Rudd. I believe that we will make it through this eventually.
That's my 2 cents :D
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