Posts Tagged ‘unemployment’

h1

Crisis

October 13, 2008

Been applying for so many job positions, none of them had any positive feedback or response, its starting to make me feel low on morale. I guess it really can’t be helped, seeing that my internship / job experience isn’t exactly the best, especially with that break this year due to ICT.

Let’s see if I can recall off hand which are the firms that I have applied to so far.

  • H*** – no response after attending info session
  • D** – no response, seeing that others have already been invited to take the tests etc, can strike this off
  • C***B*** – no response
  • S***C**** – no response, not even to take the personality test
  • S*X – no response, not invited to tests
  • ED* – no response
  • K** E** – no response
  • P*C – just submitted
  • B****a*’s – no response, might have not done well enough for the numeracy & verbal reasoning test
  • D******e B*** – no response
  • *CG – rejected, love them, yeah, at least reject me so that I know I do not need to wait=

To prevent any unhappiness on the firms’ part, and to protect myself, the above names have been censored! :)

Economy is on the down turn, yeah, I know that most of these are financial firms, which isn’t exactly smart right now, but seeing that I’m majoring in finance, it’s just natural to submit to there first. Heck.. I’m not even applying for the more glam departments or firms, like investment banking, sales & trading.

Doesn’t the law of economics state that we should boost consumer spending in times of downturns to boost the economy? And the only way to do so would be to hire more people and give them higher wages, since they would in turn pass along this income along via the multiplier effect. We would even in turn buy back some of our company’s goods & services. Even Henry Ford did so and justified it with his $5 day during the 20th Century. Furthermore, with economic downturns, prices of goods & services are lower, i.e. we can get things done for a lower cost, isn’t that also good if we had the capacity to do so? Granted this applies more to a manufacturer, since services can’t be stored, but there would still be demand for services, and not hiring, or having a headcount freeze, only serves to hamper consumer confidence, and that’s the last thing we want to happen.

If only I had some cash to short all those banks, or to dabble in the so fun forex market now, in hindsight, I should have expected the carry trades to go reversing, and bought my JPY at the start of the year when we were planning for our Japan trip, would be so rich now, with that mad appreciation in the Yen.

Follow

Get every new post delivered to your Inbox.