Sunday, January 18, 2009

Reality bites

We've started to feel the effects of recession in Kuwait now. A lot of people have been put out of work by the current economic slowdown and financial crisis. A few of my close friends lost their jobs today, both Kuwaiti and expats. This really sucks.

Back in 2001 I was just getting out of college looking forward to a bright future in computers and then the Dotcom crash hit us. Now in 2008 the financial mess in the US and other countries have screwed me again. I'm less than 30 years old and I've already seen two major stock market crashes and global recessions. We're living in fucked up times now.



chikamammi said...

ahh my friend, that is so sad to hear indeed.. the last thing people need now is this (losing jobs).. I hope things work out fine with them soon :/

Rayboy said...

the situation is bad. But they say that 2009 will be a recovery year for the next decade. lets hope everything goes just well

Grey said...

Bad news ! we too regret for not saving while we 'should' have ... * sigh * ... i hear there is job cuts in our company too .. i don't know if it will come to us .

Anonymous said...

just be glad you ain't in Dubai.. I just moved in from there and the stories I hear are pretty dramatic.. expats (who lost jobs) having severe loan exposures are just packing up their everyday belongings, taking their cars to the airport and flying out for good.. march/april is expected to show a significant rise in the number of expats leaving for home for that is when the school term will come to an end... ..real estate in Dubai has made many a millionaire and at the same time crippled thousands in life long debt.
i guess all we can do is wait for 2009 to pass...

Jonyboy said...

Sorry to hear abt ur friends Mat n hope they find something soon and pray tat you dont get entangled in these 'crashes'.

Mathai said...

chika: very sad indeed

Rayboy: I have hopes for 2009 too

Grey:yes there are job cuts everywhere, nobody knows whos next :S

purple: yeah I heard horror stories about dubai too :(

Jonyboy: I hope I dont get entangled anywhere

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