Everyone, but everyone, looks at the gloomier, seedier side of the Global Financial Crisis (GFC). Let us look at what the GFC has done actually or is likely to lead to in the near future,
GFC has really rekindled the trust people have in one anothers spoken word. It has revived the art of marketing using WOM ( Word of Mouth , if you dont know. Learn some Management jargons. You never know when they might be of use). Everyone whom I meet has told me that hoardes of people have been sacked in Kuwait. When queried by me as to how many they know have been sacked, they squirm, "Er! well no one in fact. But Michael told me that Amar told him that Malathy told him that Sunil told her that Ajays third cousins second uncles fifth son lost the job". See how the WOM network is active. Long live the WOM. Is it not a great thing that people who were suspicious of the other even if they just tell their name, have 100% trust in their words these days? No mean achievement. Thank you GFC.
Ever since Internet became a popular media, one got sick of ABCD's and DBIA's (American Born Desi Indians and Desi Born American Indians) sitting all those light years away giving arm chair solutions to India's problem and telling us how great the US of A was. The sactimonius advices were too much to bear. Now, being fired from jobs left right and centre, no more wanted in USA, they have their tails tucked firmly between their legs, tongue firmly in cheek, started the process of reverse migration to India. Now, WE can tell them to put their words into practice.
There were two useless Global Financial Institutions, controlled by USA, the World Bank and the IMF. They, like the ABCD's, were dictating to the smaller nations how to run their country to ruins. Not even a single developing country in the World had benefitted from WB and IMF policies. I just wish that this crisis and the resultant end of Globalization will see the demise of WB and IMF. The world will be none the poorer for it.
Kerala's export will be greatly hit. No, no! I dont mean the spices or tea. I meant the export of South Kerala Nurses to US of A. With Obama hell bent on developing local nursing talent, it is by bye US dream for our Florence Nightingales. I hear a sigh of relief from the long suffering NHI's (Dont worry, it is not a typo. NHIs are Nurse Husband Indians - a much persecuted lot).
Finally, the GFC will help all of us to live within our means, not to splurge, develop our own core competencies, realize that the grass is not greener on the other side, take one step at a time instead of running after unrealistic profits, and be realistic as to our expectations in the future. GFC also means the end of Capitalism. With Communism already dead, a new economic model will come up. And if that were to concentrate on the lowest common denominator - the poor man- it would mean something good has really come out of this whole sordid mess.
