economic conditions, ok?

#1 Jan 26th, 2009, 10:24
Join Date:
Jan 2009
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Panama
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  • Thekla924 is offline
#1
Are you guys seeing signs of economic change--either decline or boom? Here in Panama, we are seeing building projects slowing down or stopping and rumblings about buyers bailing out of condos agreements. The US papers mention professors with graduate degrees taking jobs at local colleges paying less than $40,000/year--no benefits(very low for US)--people looking for job security over higher wages. Shipping companies cutting back, globally.

Are you seeing signs of this global downturn? I read that a flat in Kolkata rented for less this time than with the previous tenant. Was that a case of the current tenant bargaining better or the market just being down? Are companies still hiring as much? Or maybe hiring more local hires rather than expensive foreigners? Do you have any feeling on the ground about this? Are basic food/utilities/basics getting more expensive?
#2 Jan 26th, 2009, 15:52
Join Date:
Oct 2004
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Chennai, India
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  • Nick-H is offline
#2
The rate of inflation, which hit double figures, has fallen back, and everyone is applauding this. They seem oblivious to the fact that lower inflation doesn't mean lower prices, it just means they rise slower!

The property boom seems to have come to an end, prices may have dropped a little even --- but land prices in India have never (I'm told) fallen, so sellers are finding this impossible to accept. They find a 500% increase in just a few years quite acceptable, but when the price drops back to last month, they fold their arms and say, "Well, in that case, I'm just not selling. So there!".

Our stock exchange has lost more than 50% of its value during 2008 and now... Is Satyam going to the only bubble to burst in a big scandal, or just the first?
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