the world 2008 - was rocked by the grave news of lehman bro's filling for bankruptcy and there have been many speculations that this could lead to the next u.s. great depression and how much would the ripple effect be to the rest of the world, especially the Philippines. (know more about the 2008 economic crisis here)
to the rest of us IT PINOY's, should we concern ourselves with all of these? how much would the economic meltdown effect be in our field? should we even be worried?
there were discussions that the outsourcing would be stronger than ever (kasi nga we give cheap labor)
the last i.t. recession (as i called it) i remember was in 2000, where i myself was also a victim of the dot-com bubble. right after the millenium bug, many IT PINOY's were sent home (from the usa) because just as big was .com's popularity back then, ganun din kabilis ang pagbagsak nito. the main reason was the accumulative bad investments made! dahil sa biglang nagboom ang internet, many jumped into it at maraming impulsive investments ang nangyari to .com companies.
well i dont know about this year's woes, read more from fredrick simon's writeup and the socialistworker.org for details of the events.
personally, i'm an optimistic guy, and like any IT PINOY if we just spend/invest wisely, i know we all can weather this.. tayo pa eh sanay naman tayo sa hirap!
(photo courtesy of socialistworker.org)