(Ann Arbor, Michigan) The school of corporate leaders
Somehow, I dreaded entering the business school and the economics department lately. The atmosphere there is quite depressing one with only the same phrase in everyone’s mouth “economic crisis”. The latest turmoil from the subprime mortgage is spreading out its grip and dragging other credit based industries along with it. The academics are discussing about it, admitting that even though they might be considered experts on this, their personal views are mixed as they themselves do not know the proper solution to get out of this mess.
Plus, the stock markets crash around the world added a fear incentive to investor to keep their money in relatively safe haven of value such a gold and silver, raising the price of commodities and demand beyond what is normally expected.
The main question now is not, where is the money, for there is a lot of money around but rather, how can the money be transferred along the economy line. With the main compartment of the money train system, the banks fearfull of each other financial credibility, no one is willing to allow credits for others since the trust is gone. So, money flow slow to a halt and business finds it hard to get credit they required to operate their system. when evidently, they are the main force behind the production line in reviving the economy.
Furthermore, I found that soon to be graduating students are most concern about the job market right now. Most of the questions I heard from the Phds and BBA students are of the common theme of will be market revive by the time I graduate and what are the chances of securing a lucrative job. As for the answer, let just say I might be considering spending more time in school instead of being absorbed into the market labor pool any time soon.