February 25th, 2009 
Vijaianand I am continuing with my last post on How bad really is economy? but with a hope for a better future. Read on…
Economy is so bad,
Millions of job losses have put many people on the road searching for any jobs to feed their families. People are now on the look out for bare minimum jobs to run their lives. In Six flags California, they witnessed record number of turn around for theme park jobs which is really unusual. Usually teens are the only people who are intereted in the fun jobs. With record number of job losses, people with past experiences are back to get any jobs.
Recently GM announced its plans to slash 10,000 jobs all over the world and 3400 only in US. Even walmart announced is cuts in corporate HQ of about 700-800 jobs. More job cuts on the way and more struggle for many.
Economy is so bad,
Asian kids are going to Community College. This one is from Late night show by Jay Leno which meant to be funny comment.
I think its enough of facts which might be depressing to many of you. After all, they are the true facts and we have to digest it. If you cannot realize these fact, it will be hard to focus on the future.
I am already seeing light shining as a hope from Mr.President Obama’s speech. In his speech on Feb 24, 2009, he said “We will rebuild, We will recover”. So let us focus towards good things which happened even at this bad time. With great hope brings better results and change expected to happen.
It is good,
To experience a recession once a while as per the economical cycle. It is a healthy for the country. I know it brings tough times to all of us which helps to bring the best out of us. Americans have seen more than this recession, we can get thru it. This also helps to standarize things, consolidate industries and sectors on mergers and take overs, it helps to show strongest candidate of companies from pack who can withstand the storm.
It is good
After $750 billion stimulus package announced last summer, in which half of it is used to stabilize some banks, Insuance company and other company inin last 6 month. It wasn’t enough to help stop the economy blood shed pushing the country towards bad recession. So Obama government has to take the savior role and announced stimulus package 2.0 for $787 billion. It is expected to boost the economy slowly by putting the money in various government projects like federal building, bridges, roads and schools and steadily pumping jobs by end of 2009. It is different from previous stimulus plan in a way inducing the steriods slowly to the economy for the steady growth.
It is good
We are going back to fundamentals. We are going to the basics to boost the economy instead of just sending cheques to tax payers to give a temporary kick tried by last goverment in the stimulus 1.0. This way, more jobs are expected to be created along the way and public is going to benefit out it. It is good to see, we are going back to our old lending practices with more strigent rules and regulations to avoid a crisis like this one.
It is good
After Bernie Madoff Ponzi scheme, SEC found 4 more fraud and scams of similar type including the recent Standford Financial billion. Uprooting of these scams is good which normaly happens when the economy gets worse. It is like weeding the yard after the winter break during Spring. It is suppose to bring fresh air to start a new beginning..
It is good,
In the stimulus package, Mr.Obama has announced a Homeowner Affordability and Stabilty plan to keep more people at home by giving a second chance. In this plan, people who are at risk of losing their homes will be given opportunity by their lenders to make modification in their loans to reduce their payments. It is going to help thousands of families who are in the verge of losing their homes.
It is good
All banks are now on the road searching and recruiting customers. CITIBank recently advertised and sent out offer letters to many households with $225 gift card if you sign for all of its 3 offers or get different amounts of cards according to the offer. Many other banks are about to follow in a way to build the confidence back and at same time build their cash reserves via customer deposits.
It is good
Tax software companies are offering free packages and softwares to help out people to save on their cost. Tax season is almost here and about time to get some refund. Even Turbo taxes is offering free business suites to help the business people on submitting their taxes. Many companies like Tax Cut, Tax act are joining the band wagon trying to help out and also a way to recruit their future customers.
It is good,
Unemployed people are going to recieve more help on their pay check with a boost of upto $25 per pay check from the new stimulus package.
It is good,
Energy alternatives is getting some much needed attention as Obama promised moving away from the oil dependency for the better and greeny future ahead. We need to wait and see the actual plan about it.
It is so good,
To hear education is one of the high priority in Obama’s agenda. Obama also set a goal of having the highest college graduation rate in the world by 2020.
OK!! You heard all the promises, but what can you do to help?
It is a open call to all of us to rebuild America, an opportunity of life time to help recover America from Recession by doing just what you been doing always. Working hard, saving better to improve the reserves and spend wisely to getting out debt.
Noting that is easy to “become cynical and doubtful,” Obama said he has learned that “hope is found in unlikely places.” Lets all hope to see the light at the end of the tunnel very soon. I am hopeful, are you?
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Whether it will really work or not, we all have fingers crossed to wait and watch. But whatever happens, we the ordinary consumers (low&middle class people) have to go on with our life, work our jobs, even harder than before to stay in them, make the dollar to feed our family and take care of our life. So it doesn’t change a darn things except we can only pray for our jobs to stay and prices to go down on essentials.