There are multiple reasons why this happened. I am not an economist to point out the pitfalls that lead to this depression.
America is still considered to be the land of opportunities. And, it was not an overnight phenomenon which took America to the place that it is. A lot of migration happened from through out the world pursuing American dream and those who came in had the talent, determination and passion to do anything for their dream. And when each and every person started doing what they can to embrace and multiply the untapped resources of this vast land, it lead to the creation of wealth like no where else.
But has it reached the top and started the journey downwards? I don't know and I am no one to predict! But the current slump could be because of the fact that they started taking things for granted.
Kerala, my home state in India is blessed with fantastic flora and fauna and a temperate climate till few years back. But, global warming is starting to have it's toll on our small state. The average temperatures have started rising through out this thin strip of land. Palakkad is having drought which threatened crops and we have to request additional water from Tamil Nadu, imagine that! And it is only beginning of March!
Electricity board is trying it's best to give electricity without too much of power cuts. But, our reservoirs are already below half their capacities. And we are only at the start of what is going to be a gruelling summer. They are not even able to buy electricity too much from Central grid as the demand/price for it increased manifold after two coal mines in Northern India shut down, bringing down thermal electricity supply.
And, I read somewhere that of the 100 samples of water from different part of our state, only 13 samples are consumable.
If we don't buckle up, plan well and govern our state properly in coming years, we might be staring down the barrel!
Extending the same logic to me and my career, I think I have been taking my position in the company for granted for long. But I am getting signals from everywhere that things are not that great especially with the whole economic slowdown and all. I need to pull up my socks and be on my toes.