US Deteriorating?

Last weeks news involving

1)The bankruptcy of more than four airlines within a single week
2)the rescue of more than 200 childrens from the poligamist church and
3) of course the news of Bears and Stearns planning to sack a considerable chunk of its employees in the coming quarters

makes me wonder if the US is losing its touch.It is intersting to note that a country known for upholding the rights of women has left the poligamist cult survive this long even after arresting its head during 2001.

Being a hardcore believer in capitalism I have always liked US for its cultural values...but recent news about the crumbling capitalism in the country is pretty disturbing.

How true

You cannot ask the sun for more sun and the rain for less rain....
Very meaningful words..
From the memoirs of a Geisha

Time is up---- IT

I recently watched a film named "Katradhu Tamil" (Learnt only Tamil) which talks about the tribulations of an youngster who has just learned tamil and is offended by the lifestyle of "IT Workers"....Although the film goes to the extreme and the hero turns into a psychopath.....It has opened-up many questions related to the current parallel economy running in our country...

I have sometimes wondered about how a growing industry (with high salary levels) impacts the quality of life of others....To give you an example two years before Hyderabad was considered to be one of the cheapest cities and I stayed in a posh apartment for peanuts (Akthough I still live in a decent place).Taking this as a benchmark I started my venture in Hyderabad after two years of working in Mumbai...I was in for a shock...Real estate prices and rentals have skyrocketed (literally 4 times in the last 2 years)..I guess this is due to the viral impact of IT workers migrating into cities

Another core aspect of the IT industry is the Social Discrimination it stamps on other community of works....House owners hesitate to give houses for rentals to "Non IT guys"...(I actually faced this kind of discrimination when a house owner actually told me that they dont give their houses to Non-IT guys..Although I typically earn 3 times more than an IT worker).....The discrimination also seems to be ripe in the marriage market(yes that is what it is currently ) where brides only want IT employed guys as Bridegrooms....So overall, although IT has contributed significantly in terms of fueling the national economy and setting a name for India in the global level ....it sure has its flipside....

But the honeymoon period seems to be over .... the Rupee is strengthening against the dollar...This is likely to atleast maintain salary levels at current levels(if not reduce them)...Saturday is gonna be working (Many companies have already started doing this)...And I hope these guys dont get thrown out of their job due to the declining US economy...(The banking sector ...one of the major IT spender in the states...is currently coming to terms with the sub-prime crisis)......and the industry is going to get taxed from 2008 (I think it is long overdue).Overall, the situtation will turn normal with real industries such as banking,steel and retail taking the economy forward....

But this might also impact real estate ...scores of IT people who have taken housing loans at preposterous debt service levels....would find their pants drawn down when the slow down hits....

What I like about the whole correction is...This entire cycle would get rid of the many fake (who are currently "On the bench") guys who are posturing as IT "Consultants" currently and bring high-class It guys to the front...

Long live IT..F...K IT