RECESSIONNN......WHAT SAY???

This is my first attempt at blogging. So please excuse me for obvious mistakes. Will try to improve with each of my subsequent posts and would be glad to take note of the reader's criticisms and brickbats. But do share your comments & views.

Recession has become an oft-repeated word these days. As the title of this blog suggests, I would like to dwell on whether there is actually a severe recession in India like the other parts of the world, particularly the northern parts of India like the upcoming suburbs of Gurgaon and cities like Chandigarh (where Ed-Hardy is opening its second store after Delhi) and Ludhiana (where Mercedes, BMW's & Audis are still being sold like hot cakes). I am in doubt, going by the serpentine queues in the newly opened Blu-O bowling lounge and the Rockman's Beer Island in Ambience Mall, Gurgaon. I was a visitor there with my wife last Saturday and we had to wait for more than an hour for our turn at bowling. Same was the case with the Beer Island. It was pretty jam packed and surprisingly enough if you look at the exorbitantly priced menu there. I also saw people shopping for the top brands like crazy as if there was no tomorrow. How can you justify the DLF Emporio mall if things are so bad. Another case in point are my neighbours. Three of them just bought their Audis A6 ( I wonder if it is a fad ? ) which again left me flummoxed about all the talk centering around the word 'recession'. I am in the CA & financial consultancy profession and thought that if they were my clients and had I asked my fees from them, then in typical today's fashion they would have replied something like this as many others: "You will have to wait Mister. The company is in a liquidity crunch because of the recession. We will have to cut down on your fees too." And I would have typically said to myself : But what about their Audis & BMW's. Lies & excuses but nothing else. F*** my life!

Though people have been loosing jobs in India in some sectors but not at the same frantic pace as in US where pink slips are being handed over each week on a friday and times are like the 'Great Depression' of the world war era. In India, the Export, Real Estate & the IT sector could be the worst affected but in my opinion India is still better cushioned from global downturn than other countries. For this we should thank our huge populace (at last we should not sulk about are billions) and its equally huge domestic consumption, appetite and saving habits. And not to forget the parallel black economy which mainly exists in India. Our domestic industry should & will thrive on our billions. Our GDP growth is still being projected at 6%, very high as compared to the western world.

I thought and thought about the above queues, the opulent cars and the utterance of the word "recession " wherever you go (even my ten year old knows what the fuss is all about now :-) ) but ultimately concluded that people are going to eat anyway and entertain themselves too be it bowling, beer, movies, fashion, cars or cricket. Damn the recession.... What if I died tomorrow.... But alas! in the process and excess some get sick too. As they say the food, entertainment and healthcare business are recession proof & thrive the most during depressing times. Will anybody volunteer to take me as their partner for these business ideas ? Please count me in though not as an investor.... are you mad who has the money now ? So instead let's raise a toast to our fellow Indians and try to enjoy these times whatever they may be. Stop sulking and Cheers !!!