America Sub Prime Crisis left 26 lacs jobless in America

America's Sub Prime crisis not only effected America but also effected all economies of the world. The super power of yesterday is now facing such acute financial crisis that last year it snatched away the bread and butter of 26 lac Americans. This is one of the biggest unemployment data after Second World War. The national daily of India has quoted that in last December month alone the recession left more than 5 lac 24 thousand people jobless. It also says that in South Korea scientist have applied for the post of Cleaner, the sitiation in the world is so bad.

In all parts of the world companies are sacking their employees to reduce cost. Now perhaps America has learnt lesson and will help it to restructure its financial backbone of the country. India has also been effected by global recession but has proved the world that its financial structure, banking system is much more stronger than any other economy of the world. This will help India to get more Institutional investors from various parts of the world in future, as things will be settling down. I predict that India's position will be of becoming a super power in the next 10-15 years and i am much sure about it. What i am writing today will be a witness later.

No comments: