Is it severe economic depression again??

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Hello Everybody,

Here I am with one of the hottest and most common discussions going on across the globe i.e. economic crisis. I did not take it seriously at all until I got an e mail form the CEO of a leading bank of India which has assured me to not to worry about my money as the Reserve Bank of  India has pumped a lot for us to survive. I went to gym and my trainer said, I have heard form one of my clients that some people from his IT company have been fired, how about BrickRed Technologies? Is your  job safe??. I really laughed at him and said that nothing like this ever happened  in my company  and there are no chances of that. But I was anxious after leaving the gym. Just now I had a conversation with Mr. Patrick Conlon of USA regarding the partnership between mine and his organization. He has more than 20 years of experience as an Entrepreneur so I did not stop myself from asking about the crises as it all started form United States. He said that he has not seen such situation in his career so far, when I asked him is it as severe as the 1914-1919 economic depression? He denied but said that surely US economy would shrink by 15-20% in the few months from now. I started browsing all the social networking websites I knew e.g. Biznik, MySpace, LinkedIn, Ecademy, Xing, Internations,  Konnects, Orkut etc. etc. and saw the opinion of some of the wisest people on the planet. I noticed that none of  them was anxious at all, rather they were looking it as an opportunity.
Mr. Vineet Nayar CEO of HCL Technologies said that industry boomed like anything after 2001 crisis as these are the phases where any industry redefines it selves by exploring new markets/services.  
Now the following its time to check the following things:

• Is the situation as serious as we are taking?
• Are we overreacting?
• If no, then what are the factors involved which make us so anxious about the things, our industry, organization, or maybe it has became a common thing in the global community.
• If the situation is really serious then what should be the best practice and where are we heading?
• Where would we be 12 months down the line?

  I have asked a lot of things here but did not put my thoughts/feelings across. I am strongly influenced with what Mr. Nayar said. It is time to sit back and think about our USPs, brush them up.. also re-define the targets and services those an organization offers to its bases. It is certainly a bad phase across the globe but this is the time to go ahead and see ourselves inside-out.... I also see this as an opportunity.