51bn jobs scar(c)e.........don't worry be happy

As the recession hits the globe it creates havoc to everyone of us. At the world economic forum, Davos , it was stated whopping 51bn jobs to be vanished by the end of 2009. In the month of January alone, US job market has witnessed decline of 80,000 jobs . The issuing of pink slip has become a norm of the day(probably one should start up an unit to manufacture pink slips to survive in this economic meltdown)
Many feared that this is the worst recession in our living time after the 1929 crash. The ramifications of this meltdown are disastrous. The developing world is no longer insular from this factor. Already, outsourcing industry in India is facing the brunt of the slowdown many BPO's have laid off their employees. At parvasi meeting a state minister said "his state doesn't want anymore investment in IT sector ".The ongoing recession would affect individuals, society and globally.
INDIVIDUALS : more job cuts means more families are pushed to poverty. the health sector would be the hardest hit because of poor money circulation they may not be able to meet raising medical expenses. Another aspect, as reported by UN in its report said the children will be affected by malnutrition because of raising costs. The job cuts doesn't stop there as it is going to push many families to file insolvency . The crisis in developing world are slightly differ from developed world as far as India is concerned it is domestically driven market. However, the indian market would face the crisis in the form of credit card bust which could happen anytime already credit card agencies are feeling the pressure of meeting the ''target''. The suicide cases are going up(no matter,whether you are an educated or not). Many divorce cases will be filed in the courts to get relieved of "secured" husbands(because in the eyes of girls job is a secured one all ''true love'' towards spouse will get "exposed" thanks to the recession).
SOCIETY: In the recent times, bank robberies have escalated in the US. The offenders are not the habitual ones but the ones who had lost their jobs recently.The issue of food stamps would increase (food stamps are issued to low-income groups who cannot afford to buy products the project is supported by the federal government a similar thing one can see by way of opening gruel centres''-- kanji thotti'' in tamil nadu during the times of drought) In the Gulf, many real estate projects have been shelved and the expats are laid off as a result, the foreign remittance to the developing countries would face the music. The arrival of expats would create a lot of problems already beleaguered lab our market.
GLOBALLY: the financial meltdown would affect the countries to spend on welfare activities of the state. The problems like terrorism, revolts would get a fillip. the total anachy will prevail. The US administration would take its off from Afghanistan and Iraq to concentrate on domestic problems that would embolden the desperadoes to indulge in misadventures. No region can escape from the current financial fiasco.As it would take atleast two or three years to recover from the mess. Till such time start practicing Bobby Mcferrin song ''don't worry be happy''.