#221 spend, spend, spend

Is spending the only way out of recession? What kind of spending are we referring?

Spending using real money, not credit or borrowed money? How does this work when people have no job translating no income, fraught with problems?

I’m still trying to make sense that’s happening in this financial crisis.

Has man been so dishonest that greed had overtaken turning a blind eye to the future? Or callousness on the part of those leaders who think only for today and let tomorrow suffer for itself! The existential philosphy they subscribed?

Many bailouts today are for companies who relied on credit accumulating huge sums which spirals to affecting large banks. Are bailouts for plugging holes in the banking systems?

Has the era of spending on personal credit over? Will the banks reconsider the use of personal credit cards?

What are the true causes of this economic or financial blackhole? Have we not learnt from the Great Depression in the 1920s-30s? Who is responsible? The policy-makers or those who held top positions in companies or corporations?

Has greed overtaken mankind that virtually there is little or no solution to the problem?

Will a dictator like Hitler arise or war looms?

What will tomorrow bring? I shudder to think. Will there be peace? Will there be democracy? If there is democracy, what kind of democracy?

As we’ve seen the governments have to intervene with little results. Every sector of the flailing economy have been looking for the government to bring about some form of bailouts using tax-payers’ money! Why should the tax-payers bail out those scoundrel corporate leaders or directors who were paid handsomely during their tenures on the job? Will these be prosecuted for decisions made callously?

Even in China, a socialist country, the leaders were startled at the force of this financial crisis that their first bailout of several billions have little effect!

Has the world system gone bonkers? Where are we going? What are we doing? How do we salvage this financial black hole today?

Will there be a creative solution out of this financial crisis?

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#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!