#218 ‘fear n fear’

Now that the euphoria over the US election is over, will the real face of Wall Street surface?

I like the way John McCain concedes his loss to Barack Obama on presidency. During the campaign there were times when both parties hurled sharp words but eventually the voters’ rights, supreme.

McCain returns to his congenial self bowing out to congratulate Obama on his win and encourages his supporters to support the Obama administration. The US is indeed a free country where there is fair election and the citizens have the right to choose their leader.

There is maturity in accepting the votes count unlike some African nations…

Obama used the internet as his tools for his campaign. He was able to raise lots and expended lots of money on his campaign. Will he be able to raise funds to help those who had fallen into the subprime prey and financial crisis?

Naturally the world leaders have to congratulate the secession of the world leader. Accordingly, some nations are hopeful while others are adopting the ‘wait-and-see’.

Will the market improve or like what Australian tycoon Murdoch reckoned the financial crisis will deepen?

The Asian markets are expecting the worst to come. Is this self-fulfilling prophecy?

I certainly hope the Asian market economy can buffer this recession…hopefully not depression.

A recession might be good to bring many to reconsider their spending habits; to weed out those workers who have had bad attitudes or think that the world owes them a living; to wake up the younger generation that there is no such thing as human rights in this working world. When a person comes out to the market place, he is literary enslaved to whoever hires him. Either he makes or breaks. 

Only the stronger and better will remain be humans or enterprises!

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#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 disguise — though painful!

This is perhaps a time when man is forced to wake up to learn living within one’s means — no more borrowed money or assumption to making easy money!

A time to be true and honest with self…no more living in pretense or deception!

#208 retrenchments and wage cuts

Singaporeans are forewarned there will be retrenchments and wage cuts during this recession.

Who are the ones to be retrenched? Will those in the 50s of age bracket be the first to go? The rationale that the older ones are higher wage earner…but the new intake start with higher starting pay without experience!

What about rents on commercial properties? Will there be a freeze or lowering of rates?

#145 economic recession?

Subprime, credit crunch and inflation: will these bring the world to a recession soon?

Finally the leaders are acknowledging that the US economy is experiencing recession! Will US economic recession affect the rest of the world?

Can the Asian economy correct or counteract this initial US recession?