It’s been a while since US presidential election ended. As reported by news, magazines, and other medias, Obama has carved unprecedented history of the first African-American US President. The rest of the world mostly succumbed in joy, celebrating the winning of a candidate who promised to bring changes to the States, the world’s number one in economic power and size.
Media has massively and intensively mentioned and discussed that Obama’s tasks won’t be easy ones. He will have to deal with complicated situations and big lump of problems left by current incumbent. Given the broadness of the problems, I’d like to focus -as usual- on IT and related fields. In one of my post, I wrote about the ramification of this year’s credit-crunch-led-to-economic-turmoil impact to IT sector. Although the post was not so elaborated in projecting the severity of short-term, medium-term, and long-term impact of current economic recession, it can be inferred that I was a bit wary about the impact of US recession to countries worldwide.
Last week was a global disaster for stock market. As you might have seen in the news broadcast, it was totally red for worldwide stock markets. Not only Wallstreet, European and Asian indexes also plunged deeply until the final day of transaction last weekend. Only gloom and fear (and maybe some tantrum and mutter) occupied the trade floor.
Nobody can assure when the trend will turn around to the positive track and stock markets make their comeback. Although the stocks have showed the rebound today, I’ll stay skeptical and be very prudent to say it’s the end of the negative slope.
One thing for sure, continuous stock decline brings harm to the industries. It’s easily explainable that falling stock price is associated with less bright future of a company and it makes sense that investors are unlikely to invest the capital in a business that gives nothing in return. However, the fallacy of a single company in many cases will only bring impact to a smaller scale. When the decline is massive and global, the issue will be shifted to the impact to national economy and when it involves the big-giant nations, turbulence in their economies will also affect world’s future economy prospect. It’s pretty understandable to see how this issue has forced global leaders to march up and set up the paces, reinforce together and discuss viable solution to this crisis. Continue reading