Medias around the world are now awash with news on worldwide economic turmoil. According to International Monetary Fund, the present crisis is now no more a regional crisis but instead has been a worldwide phenomenon affecting entire spectrum of the countries in the world. IMF further says the world growth rates have been projected to be 0.5 percent in 2009, the lowest after the Second World War. Under such a gloomy situation, vast majority of people around the globe have lived under real panic, fearing of their financially unsustainable life in the future. For those people who don’t have enough saving and have to survive in their current income, economic crisis turns out to be a real fluster for them.
The precarious part of economic unrest is its brutal effects on people’s everyday life sporadically leading to fatal consequences. The society has started witnessing such events emanated from the present economic predicament. One of such grisly events happened just recently in California. Ervin Antonio Lupoe, after he and his wife were fired from their jobs, killed his all five children and wife before shooting himself to death. In a letter faxed to a local television station he said that with five kids and no jobs it was better for him to end the life of entire family.
Here are some other incidences happened little while ago. The killing of nine people in California by a pretended Santa was, to some extend, attributable to his job lost. He was just fired from a job in an airline company before he committed this crime. Beside ordinary people, the associates of big companies were among the victims. Adolf Merckle, one of the top four hundred billionaires in the world who suffered huge losses in his company, has committed suicide, throwing himself in front of a train near his home. In addition, one of Chicago's most well-known real estate moguls appears to have shot himself to death, which comes amid great turmoil in the country's real estate industry. Marcus Schrenker, a financial advisor, on the other hand, had to pretend his death by throwing himself out of the plane to escape his fraud when his personal and business wealth went freeze.
These are a few examples. There could be innumerable petty events not covered in media. All these events are precursors to the future scenario where we will see more of such events when the crisis continues to remain.
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ReplyDeleteYou are right in a sense ! May be that there can be other reasons of killing or being killed in the cases mentioned in here, the job losses definitely make a strong component of depression in people. A broader spectrum of the economic recession is clearly seen in the millions of job losses or some other kinds of disorders all around the world. Although a very bad impact of this recession has been seen in the developed world, equally adverse effects are being seen in the less developed or developing world.
ReplyDeleteKeep on doing this kind of analysis on current situation of the economic impact and how the recovery can be made!
Thanks Rudra jee for the comment. Certainly I will keep going.
ReplyDeleteHi Dev.,
ReplyDeleteWe are surely living in perilous times. Us American have certainly been spoiled. We are a country of plenty. There has always been plenty of pie to go around in America. The loss of jobs however is another thing. America's unemployed population cannot hold up under the pressure of not having a job. The job provided a
comfortable lifestyle for most of us. People under pressure tend to go beyond the extreme when they no longer have the scurity of income.
Joy A. Hunt