~ My Own Diary ~

Sunday, January 11, 2009

I HATE RECESSION !!!

Recession make me sick, seriously....

According to Wikipedia, the free encyclopedia; in economics, the term recession generally describes the reduction of a country's gross domestic product (GDP) for at least two quarters.The usual dictionary definition is "a period of reduced economic activity", a business cycle contraction.

The United States-based National Bureau of Economic Research (NBER) defines economic recession as: "a significant decline in [the] economic activity spread across the economy, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales."

Effects of recessions :
1. Bankruptcies
2. Banks lending less money
3. Deflation (or disinflation)
4. Foreclosures
4. Reduced sales
5. Stock market crash
6. Unemployment

Well, recession impact on me :
- housing plan on hold ( I plan want to fetch my family to stay in Melaka leh... )
- no bonus ( why.... my wedding is around the corner leh... )
- cut pay ( sad to hear this... )

I hate this !!!!!

[Hey, clarice.... this is global impact. Not only you... others kena retrenchment leh...]

Yalor...at least still secure a job..hai....