Where is recession ?

With the fallout of Lehman Brothers , Recessionary winds got strong momentum.Top historical banks started shivering , with people began to dig grave for one bank after another.Experts/Guru flashing on TV shows telling how this is serious recession , some gone ahead and comparing with great depression of 1930s. Media done perfect job of making noise louder.On recession and depression I came to know some interesting jokes. One I am gonna mention here is :-
Q: What is recession?
A: When you neighbor lose job.

Q: What is depression?
A: When you lose job.

With passout of each day big corporations joining layoff parade taking unemployment toll to record levels.Political leaders , treasury secretaries, central banks across the globe finding buzy themselves to announce 'bailout package' for banks/companies across sectors. 'Bailout package' becomes buzzword while 'Investment Banking' on the verge way out from dictionaries.

In India, I personally feel recession/depression is limited to very few section the people. Especially those people who enjoyed growth boring brunt of recession.I used to saw same huge crowd near law courts in pune.How economy like (chai/poha taparies , Xerox shops etc.) surrounding court still doing well.Farmers in villages doing usual things as doing earlier.Goverment employees getting Sixth pay commision.The tapri where I and my friends used to go for ocassioanl lunch / snacks doing good. How Jyotish business is flourishing well.Nobody stopped talking on cell phones.Big ticket orders showering on construction majors like L&T , BHEL . 'Indian Idol' show going on full rampage.Interest rates going downward so people leaving with more cash in their hands.So obvious thought coming in my mind Where is recession ?

Whatever positive aspects I observed may be ignored by Media,expert/gurus. Or I may be looking only on the positive aspects. As I aware people losing jobs,sensex tanking, satyam saga hitting headline every other day,consumer spending down , auto sales down.But I think this is bowing seed for future growth isn't it so? This is time where future can be made.When will you get quality asset at mouthwatering price ? This is time to do some innovative solution that can address problem of mass. Flashing news on recession again again on TV only sparks fuel to add more fire to recession as people hold back themeselves from doing expenditure which is main engine of growth.

Sometime simple thinking also works rather than doing complex mathematical equations.