#209 learning to live within one’s means

Man has short memory indeed! The last recession was about 6 years ago here in Singapore? Have we picked up since then? Or are we gliding further? Up a little and slide further? Have we learnt our lessons since? Recession, panic selling in the stock market, credit crunch gale force sweeping Europe might be blessing in [...]

#207 who do you trust?

Having money is a problem these days. Putting money in the bank is no consolation either. You lose your hard earned cash when a financial institution collapsed. I was told you could file for misrepresentation — that the profile of products bought did not suit the personality of one. How does this work? The high turnover of officers serving [...]

#196 a new financial world emerging?

It seems the global financial crisis we’re experiencing at the moment is deeper and more serious than anticipated. The collapse of Lehman Brothers has caused domino effect on many financial institutions creating turmoil, tsunami, hurricane… Is this the true face of credit crunch? Below a video clip of NY trader Arthur D Cashin Jr with almost 50 [...]

#79

I’m curious about the credit crunch…banks like UBS made huge losses. Several countries, like Singapore (forked out $14billion?), to help bail out UBS. Now into whose pocket did the cash go into? Where did these monies go? Surely there must be someone or organisations benefiting these massive losses. Or is this a case, over the years, there were lots of [...]

#41

Subprime and credit crunch are symptoms of a lack of integrity in the banking system.  Has this encouragement ‘to live on credit’ taking its toll? Whoever started this ‘living on personal credit is the smart way’ is reaping ill harvest! The interesting thing is the management sets quotas and expects its employees to rake in good profit margin. [...]