Feeds:
Posts
Comments

Posts Tagged ‘global meltdown’

One thing is for sure. Whatever regrets I had about giving up my career in investment banking, I don’t any more. I have to admit that I did feel twinges of doubt when the markets were soaring and all my colleagues were taking home upwards of a crore (10 mil) while I was struggling to eke out a tenth of that.

I’ve been through such a bear phase before, in the year 2000. And living through two such phases is just too much for any one person to bear. Okay, poor choice of words there. I should have said endure. I personally know at least two people from the industry who’ve suffered fatal heart attacks in their early thirties. All right, perhaps it wasn’t the pressure alone that did them in. Their almost completely non-vegetarian diet and incessant smoking and drinking probably also had something to do with it.

We are in for a rough time here in India as well. It is a global pandemic and in these integrated times global flows of liquidity decide what course a country’s development will take. Domestic liquidity was stemmed in earlier to fight inflation and now companies are finding it difficult, if not impossible, to borrow abroad. So how do they carry on their operations?

We are in for lower GDP growth, job, cuts, lower savings, lower investment and, therefore, lower growth. What was once a virtuous cycle of positives on all the above counts is fast turning into a vicious cycle. How long it could take to sort itself out – 12 months, 18 months, 24 months or more, is anybody’s guess.

What all this means for a writer is of course, new story ideas to reflect newer realities. For example, many thriller writers almost went out of business after the end of the cold war between the USA and USSR. Till they found terror. Perhaps it is time to think the same economically?

Advertisements

Read Full Post »