Hello engineers,
This is an article which i've been trying to write for some time, the theme is "Economic crisis". The words like economics, investments, commodity, stock market and more. They seem to sound outcast to most of our engineering students. Actually we are like interested but ignorant towards them. I wrote this article on an engineering blog is because it is good for every one of us to have some basic idea on this and it is more general and good for a casual for a tea talk! ( We can't discuss Derivations and programs all time :p )
As engineers we concentrate more on our subjects. Sometimes some knowledge apart from subject is demanded by others to recognize us as a source of knowledge. So read more than text books and be better a source for other.
Some of us have this attitude, "Why do we have to care on all these? Because, we have some IT company to hire us for some 3-5 lacks p.m" (Or) Most of the time when we hear them in the news channels and read them on our daily newspapers, we feel like "I'd love to know about this but the thing is, I don't know the basics and the past that they mostly refer to. !" :(. Yes, you are right! These guys talk in a language which has most of the words that a normal person do not understand. But, don't you think that you are way better than a normal person? So, you have to understand this term "Economic crisis" for some extent now.
Today, our complete world is under the hard knock. The economic recession has encountered even super powered countries! This on going hardship can be quoted as something bigger than that of 1930's. The 2008 recession was the worst period of monetary crisis. That resulted in large fiscal institutions and upset the stock markets. The 2008 event was due to the fiscal crisis that was triggered by the bailout of banks owned by the national government. Added to this the food and fuel commodities pushed over 155 million people into poverty in 2008. The worst part is that the current world economics is much more worse than the past!
London is facing crisis in the form of social and economics, while Greece is in reverse ship. The world financial institution chief Robert Zoellick has commented on the on going 2011 crisis as "New and far more dangerous" for the world economics, while small relaxing space in the most produced nations as a debt crisis hits Europe. The ongoing crisis will add more damage to the stock market after the downgrade of the united states's credit ratings.
Understanding the crisis, from an expert's view.
Why is 2011 Crisis different from 2008 ?
The crisis of the 2008 was due to the extreme overheating of the international economic system and resultantly commodity and actual estate touche the peak degree.
Now in 2011, Gold rates are touching new heights everyday, Unemployments is creeping, inflation is raising. The stock market are going under the waters mainly due to the lack of faith in the financial happenings. Adding to all this the natural calamities are contributing for their part. US debt crisis is threatening the world markets. As we are able to notice some visible problems, one ought to be careful during investing on any organization. Though investing now can be a good option, as the rates are down to the floor. One has to be careful and cautious!
As engineers we concentrate more on our subjects. Sometimes some knowledge apart from subject is demanded by others to recognize us as a source of knowledge. So read more than text books and be better a source for other.
Post your comments and ideas, continue the discussions.