First of all let me wish all readers and all my friends a very Happy Deewali !!!
Deewali is a festival of light, happiness joy and celebrations for Indians. Yes, a heavy shopping is always on cards and we saw all companies from Electronics to Automobile with various offers and discounts for customers.
But is this Deewali really happy. Recession already started in USA and its showing its affects around the globe. US, Europe, Japan, China and India all are badly affected by it and Stock markets of various countries are trading at 5 year's low on average.
Is this time calls for celebrations ???
Two BIG-Bs of Indian business already lost around 100 Billion $ of money in 9 months. Mukesh Ambani from 58 to 14 billion $ and Anil Ambani from 48 to 8 billion $. Indian companies already down by 1.5 trillion $ in market cap. Sensex trading at 8700 levels, lowest since Nov'08. Pink slips can be there any time, after drama by Jet-Airways employees of various companies are fearful. Situation is no doubt bad, atleast no better then previous few Deewalis.
But, should we morn, obviously not. Deewali is festival of victory of good over evil. Bad time will come and go and good days will be back, may be not soon but it will. As per Mr. Warren Buffet also, its a economic cycle and it will pass with time.
Hope we will have reasons to celebrate Deewali in 2009. As of now, lets the Dalaal street be Halaal street, lets celebrate our losses, our defeat and our pains. Because "Haarkar jeetne wale ko baazigar kahte hain"
Happy Deewali, 2009.
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