The wild wild West…
Cheers may be a long forgotten word, or rather a word spelling luxury for an Indian banker, financial wizard and techie- who would otherwise have been gung-ho about his/her prospects in the USA and even UK! The collapse of financial behemoths in the USA is definitely bad news for the Americans but worse news for the Indians holed up there, with an ‘American’ dream. They were not wrong in dreaming big or harboring great ambitions in their minds…it’s just that (the right) circumstances didn’t give them company. ‘Survival of the fittest’ is definitely the mantra today and for many days to come, moreover, its ‘test amongst the fittest’…not only will the ‘fittest’ win but the fittest of the fittest will only survive…thriving seems miles apart.
So much negativity, gloom and distress…one can’t help but be BEARISH as the Bulls have NO choice but to run for cover as the Wall Street…which millions of the world looked upto, is no longer a positive indicator! Of course, Bears had their time too, in the past, but were never in the limelight as much as the Bulls, who tipped the weighing scale on their side, most of the times. Thousands of Indians associated with the Banking, Financial Services and Insurance (BFSI) sector, in and around the Wall Street are rendered jobless or eventually will be running for cover as sitting on the bench is not at all a distant dream but a disaster waiting to happen anytime! Financial capital London is not far behind as it is emulating New York to quite an extent. There was a time when an Indian returning back from the US or UK was welcomed with open arms for a job back home and the head-hunters would readily fix a job for him/her. That’s not the case now with an alarming level of reverse brain drain affecting India, as not at all happy-go-lucky ‘Indians’ are coming back to India, though not willingly, but for a job to survive and bail out their families. They will have to forget the fat pay-packets they received overseas and will have to be at the mercies of their new bosses back ‘home’. Now, the BIG BOSS will be the one who will really call the shots, followed by the placement firms, who will unambiguously be in cherry picking mode. Indians who have already ‘settled’ in foreign lands, heavily invested in real estate are in for bigger shocks as property rates are also plummeting and they have hardly or few options left.
All this is just the beginning (of misery) for Indians who are forced to come back ‘home’ and will be subject to bigger issues like corruption, 3rd grade politics, population explosion, pathetic roads, pollution, et al. Is Standard and Poor’s (S&P), listening? They are, rather were, supposed to be Wall Street’s leading rating agency, who are also on a job-cutting spree! Is S&P still good enough to ‘rate’ India? Nonetheless, how can ‘the wall’ fall? We have heard of ‘cookies crumbling’, but did anyone think that the Wall Street can crumble? Well, it can, if the ‘wall of Jericho’ can fall down- the Wall Street isn’t a big deal!
So much negativity, gloom and distress…one can’t help but be BEARISH as the Bulls have NO choice but to run for cover as the Wall Street…which millions of the world looked upto, is no longer a positive indicator! Of course, Bears had their time too, in the past, but were never in the limelight as much as the Bulls, who tipped the weighing scale on their side, most of the times. Thousands of Indians associated with the Banking, Financial Services and Insurance (BFSI) sector, in and around the Wall Street are rendered jobless or eventually will be running for cover as sitting on the bench is not at all a distant dream but a disaster waiting to happen anytime! Financial capital London is not far behind as it is emulating New York to quite an extent. There was a time when an Indian returning back from the US or UK was welcomed with open arms for a job back home and the head-hunters would readily fix a job for him/her. That’s not the case now with an alarming level of reverse brain drain affecting India, as not at all happy-go-lucky ‘Indians’ are coming back to India, though not willingly, but for a job to survive and bail out their families. They will have to forget the fat pay-packets they received overseas and will have to be at the mercies of their new bosses back ‘home’. Now, the BIG BOSS will be the one who will really call the shots, followed by the placement firms, who will unambiguously be in cherry picking mode. Indians who have already ‘settled’ in foreign lands, heavily invested in real estate are in for bigger shocks as property rates are also plummeting and they have hardly or few options left.
All this is just the beginning (of misery) for Indians who are forced to come back ‘home’ and will be subject to bigger issues like corruption, 3rd grade politics, population explosion, pathetic roads, pollution, et al. Is Standard and Poor’s (S&P), listening? They are, rather were, supposed to be Wall Street’s leading rating agency, who are also on a job-cutting spree! Is S&P still good enough to ‘rate’ India? Nonetheless, how can ‘the wall’ fall? We have heard of ‘cookies crumbling’, but did anyone think that the Wall Street can crumble? Well, it can, if the ‘wall of Jericho’ can fall down- the Wall Street isn’t a big deal!
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