2008 started with Inflation concerns. Real Estate, Crude Oil, Vegetable Oil, Vegetables, Grains, everything was trading at all time high. Government was increasing the interest rates to contain inflation. 2008 ended with deflation concerns. For so many years it was just one more term in my 9th standard economics/social science lesson. Inflation was what everybody around us were worried about. So now the interest rate is at near zero percent. Crude oil is at 5 year low. Mining has nearly halted in many places and companies are having tough time getting rid of inventries even at discounted price.
2008 started with the so called prosperity. Finance guys earning mind boggling salaries. Everybody looking down upon a 20% hike. Everybody was a Oliver Twist, wanting more. China worried about over heating economy. Others worried about the environmental impacts. 2008 ended with layoffs in finance industry. Other industries have the layoff as a hanging sword. People are happy if the salary stays the same.
2008 started with peace talks with Pakistan. Trade boomed across the border. We were bhai-bhai. 2008 ended with a Mumbai attack. Everybody wants a war. People talk about finishing the other once and for all.
