What is recession?
This story is about a man who once upon a time was selling Hotdogs by the
roadside. He was illiterate, so he never read newspapers. He was hard of
hearing, so he never listened to the radio. His eyes were weak, so he never
watched television. But enthusiastically, he sold lots of hotdogs. He was smart
enough to offer some attractive schemes to increase his sales. His sales and
profit went up. He ordered more a more raw material and buns and sold more. He
recruited more supporting staff to serve more customers. He started offering
home deliveries. Eventually he got himself a bigger and better stove. As his
business was growing, the son, who had recently graduated from college, joined
his father.
Then something strange happened.
The son asked, "Dad, aren't you aware of the great recession that is coming our
way?" The father replied, "No, but tell me about it." The son said, "The
international situation is terrible. The domestic situation is even worse. We
should be prepared for the coming bad times."
The man thought that since his son had been to college, read the papers,
listened to the radio and watched TV. He ought to know and his advice should
not be taken lightly. So the next day onwards, the father cut down the his raw
material order and buns, took down the colorful signboard, removed all the
special schemes he was offering to the customers and was no longer as
enthusiastic. He reduced his staff strength by giving layoffs. Very soon, fewer
and fewer people bothered to stop at his Hotdog stand. And his sales started
coming down rapidly and so did the profit. The father said to his son, "Son,
you were right". "We are in the middle of a recession and crisis. I am glad you
warned me ahead of time." __._,_.___
.
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