Why my blog?

Because you will be able to see not one or two topics but several topics.As you have been reading my blog, it seems to many that I am just talking about all the economic aspect. But this is really not my intention. I just feel that I had more to say about what is happening right now and what I am thinking things are going which way. But since my blog is all about opinions of mine. It will not be limited to only economic news, but any thing which I think merit my interest, attention, passion, concern, excitement or worry.

If you have seen my previous blogs which I have called on the lighter side, it deals with sports, although baseball is all the rage (and in it too I have inserted some economic analysis of mine) but it can be any sports which I watch or think deserve my attention. On the lighter side will also include all forms of entertainment or anything to break the mundane routines or worries of life. Tips of where I have travelled or things to see etc will be part of this series.

So keep on logging on and sending me your comments since I intend to be a prolific writer about anything which I find interesting or not.

On the lighter side- Sports

So this World Series has started to become too exciting. Both of the teams Yankees and Philadelphia Phillies are strong competitors. For all of you baseball fans it has been an exciting series with ups and downs coming through at the last minutes.

One curious thing that I saw (I am just learning the game rules) in the stadium was that it was jam packed. I guess no matter what the economic situation or mess we are in with all the grim news regarding the foreclosures, bankruptcies and joblessness, people find enough money to go to these ball games. Or you can say to escape the grim news this may be their way of saying I had to enjoy this game no matter what.

Look at what is happening to the Movie industry, since or because of the recession the price of tickets have gone up and so is the revenues of the movies (but not the attendance).

People want to escape the reality. It is too stark and whatever their economic circumstances, they will continue to enjoy the cheapest form of entertainment they can find with their families, whether it is movies, sports, a small meal out at night or taking short vacations near their homes.

Happy Halloween or Not!

So did everybody have a Happy Halloween or not. I know I did since I had a temporary job but who cannot be. Many parents in this economy who do not have a job go all out of their way to make their kids happy and not make them realize that they are financially in trouble. But I guess kids nowadays are too smart for that. I am still working a temp job (since the last 14 months) but my kid does not know that and I want to make sure she does not since it is our (parents) responsibility to make sure the kids are taken care of.

More news came out today that pending home sales rose for the highest level in three years and manufacturing also expanded. Well good for them but still I am a little more skeptical regarding the job situation (the monthly jobless rate is going to come out this week I guess).

Most of the employers are still more hesitant to hire more people or they are getting use to the fact that they are in the driver’s seat and can be choosy about whom to hire. Anyway when the confidence in the economy grows then we can see the jobless rate go down but in the meanwhile lets hope for the best.

The New MBAs

I read an interesting article today in BW regarding how the Class of 2009 of the new crop of MBAs is doing and the situation was not pretty. Even the ones who graduated from top schools are finding it hard to locate Jobs. This is because most of them use to go the financial sector. But thanks to this recession two of the investment banks are gone for good, one has been acquired by another Bank and the remaining two are now bank holding Companies.

So the prospective MBAs are jockeying for jobs.

When I graduated from my Business School in the early 1990s, U.S. use to produce almost 60,000 MBAs per year. But now the figure has jumped to more than 140,000.

As anybody with even a minimum knowledge of Economics knows that the more of one thing makes it value goes down and this is what is happening in the MBA world too.

One question now which enters my mind is are we really producing more MBAs than we need?. MBAs were supposed to be the cream of the crop back a few years but now with the economic crisis and new criticism of how these Business schools have been focusing too literally on the theoretical side of the market and not enough on the humanistic side, we really need to evaluate the number of MBAs we are churning out.

I have another question as everybody knows the doctors study their ass off to become doctors studying for almost 10 years after High School to become one but their pay is so far less than the MBAs. I mean with so much education and so less pay as compared to the MBAs. I believe now that we should make it a bit harder for students to enter the Business school. To be sure I am not saying this just because I have an MBA (mind you I working towards my second undergraduate degree) but this may increase the value of the MBA in the eyes of the employer. More school does not mean more pay but just to make it a level playing field. Like the lawyers who spend three years in Law School and the doctors who study almost 10 years, we should at least make it a bit harder for people to attend business school by making it a three year school with a mandatory working experience of 1 year in between so that the future MBAs have an appreciation of what they are getting after they graduate.