The signs of recession in the world economy have now become more visible. Everyday, news of layoffs and downsizing by the big companies are pouring in. The demand for energy which has been the driving force behind the economic growth, has slowed down in the recent past, pulling down the oil prices drastically. This affects the oil based economies more, like Alberta. I have a feeling that we overreact to situations. When the economy is strong we become unrealistically optimistic and when the down trend starts we become too passimist.
Although the recession has its own long periodical recovery cycle, but I hope the things will turn better by the time we complete our accounting course and come in the job market.