Is recession really here?

[awaisaftab]

Dear All,

First of all I want to make it clear that the issues of recession and inflation are the matters which lie under economics. I am agree that accountants, specially Pakistani accountants, don’t see big picture. The professional accountants who express their views regarding economics issues mostly hold master degree in economics for instance Dr.Khawaja Amjad Saeed.

Now I come at the question I have heard above mentioned sentences from many shop keeper and vegetable sellers whose education is negligible .Some years ago when the inflation was increasing day by day some people were saying that it is not influencing the life style of people in the proof of their comments they gave the examples like that market are full with people, people are purchasing luxurious items and similar comments. But at the beginning of the current fiscal year purchasing power of Pakistanis began to falling later on the world economic crunch worked as oil on fire. Now the purchasing power is falling very speedily.

Some people may say innocently that there is no recession or inflation because markets are full of people and people purchasing expensive items. But you cannot determine results only visiting markets. You should must aware from whole picture and whole picture cannot be seen without statistical data.


Here I want to quote a remarks of an a Statistician


“One who wants to determine results about any social science without statistics is like a blind man who is searching in a dark room a black cat when cat is also not in the room”

Regards,

Awais