2009 Gloom & Doom Update: Protests in Germany and Bosnia

As the situation gets worse in Europe, with unemployment rates reaching new highs, the social unrest (see previous posts) is spreading. Germany is the latest in the string of countries that is seeing protests show up. This is important to note as Germany was one of the first countries that had been working on a stimulus plan and has tried hard to off-set the anticipated problems.

Problems in Bosnia are less surprising as this was not a strong economy to start off with. Given their political precariousness (two regional, uncoordinated governments), this is a country that is possibly in line for a change in administration in the style of Iceland or Latvia.

What to watch out for in the upcoming weeks: collapse of airlines. Several airlines are already facing problems as fewer people are flying (Singapore Air, Lufthansa, Swiss Airlines etc)- let us see when some of the weaker players are pushed out of the market or will need to be bailed out.

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2009 Gloom & Doom Update: Suicide Rates on the Rise

One of the side effects of the worsening global economy and unemployment is the increase in suicides and suicide attempts. The numbers of cases (high profile and of “normal people“) being reported has increased significantly.

Asian economies like South Korea, Japan and Hong Kong have all reported increases and are planning for more. South Korea and Japan are installing blockades for railway tracks so people do not jump in front of trains. Hong Kong has increased the numbers of operators for its suicide hotlines.

The US is also experiencing an increase in calls to suicide hotlines in places like New York,  Tampa, Dallas, Washington DC metro area and California. What is far more worrying is the increase in suicide attempts at universities like the University of California, Santa Barbara. Europe is not spared either with countries like Serbia reporting the highest suicide rates in Europe and 55% of the population shows signs of depression.

The global economy is going to get worse over the upcoming months. If anyone you know is showing signs of depression make sure they get help.