wall street bailout is just the beginning of the worse
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STI already in 2100 region. next is 1800.that is 50% retraction from peak of 3600. that is a more realistic target.
It is getting worse in 4Q onwards why?
1. singapore 3Q data release on fri will show negative growth.that means we are in fact in technical recession.
2. No good news from wallstreet( BOA miss forecast, cut dividend),( job slashes across wallstreet) and mainstreet( consumer confident down, jobless up,housing down).
3. Crude oil prices could be on the move up. OPEC will cut production. the problem here is alot of country central bank is cutting interest rate, that means if crude prices going up. inflation pressure will be back soon to haunt us.
the worse scenerio, the world economy has to tackle and fina balance between world recession and inflation problems. that going to take some time to figure out.
just my personal opinion.
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Hike!!! my Fuhrer, your personal opinon will be taken into great consideration. We will like to thank you for your contribution, you guidance and foresight had guided us to victory. Praise to my Fuhrer!!!
SS Waffen
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Altho the financial meltdown is a sad thing, i find a good thing out of the bad thing.
Rich people go bust and that is fair in the sense that the system ensures that the rich does not continue to remain rich and in times like this, some of them actually go bust.
when u invest, there is no guarantee even if financial product sellers tell you got guarantee wan.
hooray!
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Altho the financial meltdown is a sad thing, i find a good thing out of the bad thing.
Rich people go bust and that is fair in the sense that the system ensures that the rich does not continue to remain rich and in times like this, some of them actually go bust.
when u invest, there is no guarantee even if financial product sellers tell you got guarantee wan.
hooray!
not really rich will be the one to affected the most. As the had the resources to weather such crisis. those company that will go bust first are the SME. as they had little resources to maneovre.
in fact i think the middle class, middle lower or lower class will be worse hit.
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Hike!!! my Fuhrer, your personal opinon will be taken into great consideration. We will like to thank you for your contribution, you guidance and foresight had guided us to victory. Praise to my Fuhrer!!!
SS Waffen
i am definitely smarter than stalin. if he dont have zhukov, rokovssky. i can storm and push him to hike in siberia.
SS waffen is definitely more loyal than the wehmarch.
good choice!!
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Originally posted by reyes:
not really rich will be the one to affected the most. As the had the resources to weather such crisis. those company that will go bust first are the SME. as they had little resources to maneovre.
in fact i think the middle class, middle lower or lower class will be worse hit.
You are right. The rich are not really affected that much. Its the low and middle class that gets the brunt of the blashlash. Besides, all those CEO who drove their companies to the ground and world economies into hell, walked away with hundred million dollars of package. Then these same companies hire these failure of CEO to be consultant of their now shitty companies.
So I had not seen any of the rich people suffer in this financial meltdown. In actual fact, they might have walked out with more of the people's money.That's why the US public is so unhappy about using their tax dollar to bail out these companies when the people responsible for the melthdown are not penalized but rewarded instead.
Its the same here in our local context. There are many policies that did not deliver and get twisted into a different motivation (eg ERP) while the MPs get pay raise for the sole reason of corruption prevention. I refrain from refering them as brilliant as the solutions for some time now is : The Public has to bear the cost of whatever the Party decides to do.
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Originally posted by reyes:
not really rich will be the one to affected the most. As the had the resources to weather such crisis. those company that will go bust first are the SME. as they had little resources to maneovre.
in fact i think the middle class, middle lower or lower class will be worse hit.
Hike, my Fuhrer,For a mere $100,000 lost to a a rich man is nothing, but to a average man, it suicide.
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Originally posted by reyes:
i am definitely smarter than stalin. if he dont have zhukov, rokovssky. i can storm and push him to hike in siberia.
SS waffen is definitely more loyal than the wehmarch.
good choice!!
Hike my Fuhrer,The SS waffen fully follow the doctrine of the Mein kampf policies set by the Third Reich. But today, we call it third Rich!!
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The CEO, CFO, directors of listed company are paid an annual salary package or directors fees. some of course are peg to shares of company.
even if the company go bust. they are not really affected.
Take richard Fuld of of lehman bros. he had about half a billion dollars in assets and cash ( not including the worthless lehman bro shares which he claim to hold 8-10million).
is he affected? not really. the person who are affected are the ones who had bought the DBS note 5 fund, american retiress money, average lehman workers who had held lehman shares.
that why i prefer company pay salary in cash not shares.
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The SS waffen fully follow the doctrine of the Mein kampf policies set by the Third Reich. But today, we call it third Rich!!
the day will come for the third reich!!
by the way i am surprise a auntie like you know about mein fuhrer third reich.
well done!!
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hahah I got burnt in one of my previous tech company when they offer zero bonue but everything in share. fuk the damn shares. drop to lowest $2.50. I shall never regret leave the stupid place
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mistyblue. just prove my point. cash is king. how to spent depend on you. share in shit, how much it worth depend on your CEO.
you wana leave your fate to other or yourself.
wise choice!
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Every economic crisis, there is always a redistrubution of wealth.
Whether you guys can grab it or not is another issue.
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The CEO is now the chairman controlling the puppet he put in his place. Top mgt hated the puppet and left in droves. I figured that if IBM and HP is able to come out shining from their issues and my company is still swaddling in that shit they created for themselves. Then I best leave before it tank and I go with it. In utter disgust and depression, I had to let go of all my share/options. Cut my loss. I shall never ever forget my 6 f*kup years of pay freeze and some minor bonus in options. It was a painful lesson. And the CEO/Board are still in their dream world of excess and million dollars of pay.
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Originally posted by reyes:
the day will come for the third reich!!
by the way i am surprise a auntie like you know about mein fuhrer third reich.
well done!!
Me auntie, oh no...hahahaha...me got brother helping me lah.He is very good in history and sociology. But he likes to knock my head lah..
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Originally posted by Evangel:
Every economic crisis, there is always a redistrubution of wealth.
Whether you guys can grab it or not is another issue.
there is alway new billionaire and millionaires formed later, the opportunities are up for grab during a downturn.A total re engineering
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Originally posted by mistyblue:
hahah I got burnt in one of my previous tech company when they offer zero bonue but everything in share. fuk the damn shares. drop to lowest $2.50. I shall never regret leave the stupid place
oh, poor thing, if u want to whack them, call me, i charge $250 per head. -
The CEO is now the chairman controlling the puppet he put in his place. Top mgt hated the puppet and left in droves. I figured that if IBM and HP is able to come out shining from their issues and my company is still swaddling in that shit they created for themselves. Then I best leave before it tank and I go with it. In utter disgust and depression, I had to let go of all my share/options. Cut my loss. I shall never ever forget my 6 f*kup years of pay freeze and some minor bonus in options. It was a painful lesson. And the CEO/Board are still in their dream world of excess and million dollars of pay.
maybe corporate governance is just shit talk among politicians, HR practices and top Execs.
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singapore no central banks. thus i think MAS is going to lax the strong SGD stand soon in according to countries central banks rate cutting moves. This will definitely help SME to sell better in a tough market condition. But on the other hand, inflation will continue to plaque singaporeans for longer time.
If you have kid in Australia -- maybe time to exchange now, it about 1:1.
if you no kids in australia, maybe time to go a holiday in australia.
Singapore dollar has appreciate against AUD by 20% in the last 1.5 to 2mth. amazing.
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WASHINGTON: Treasury Secretary Henry Paulson warned on Wednesday that more financial firms would go bankrupt in the United States and that recent market turmoil had "seriously impacted" the economy.
Paulson cautioned that a 700-billion-dollar government rescue package for the financial sector approved last week would not mean an end to bankruptcies and that it would take several weeks to put in place.
"One thing we must recognise - even with the new Treasury authorities, some financial institutions will fail," Paulson said at a news conference.
The aim of the rescue package is for the Treasury to buy up toxic debt being held by banks, but Paulson said it would be "several weeks before our first purchase."
The new law "doesn't exist to save every financial institution for its own sake," he added.
Reflecting the international scope of the crisis, Paulson also called for emerging market countries to be included in broad international talks on stabilising the financial system.
Brazilian officials told AFP that a meeting of central bank chiefs and finance ministers from the G20 emerging and rich country group would take place in Washington on Saturday alongside a gathering of the G7 rich countries.
Paulson said a meeting of the Group of Seven afforded an opportunity to discuss "ways to further enhance our collective efforts."
In comments about the US economy, Paulson underlined that turmoil in the banking sector caused by declining house prices was already reducing growth in the non-finance economy.
"A chain of events caused by the ongoing housing correction has reverberated through US banks and financial institutions and has seriously impacted the underlying economy," he said. - AFP/dejust more bad news. frankly i dont think singapore banks are immune. in fact i predict it just a matter of mths before bad news start to churn out from local banks. exposure to certain banks, funds,lower profits etc.
damn, we are not even in the middle stages of the crisis yet!
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how did the world recover from the previous crisis?
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Now by stroke all luck the minor hiccup during 2007,I manage to get out of all stocks be it blue chips or pennies..spld my ppties too..now waiting for the worst of the worst to happen..Citibank predicted STI to hit 1800..doubt soon when the full hurricane swept SG...many will be brought to their knees..now not the time to buy yet ..yes blood spilling everywhere but that's is in US only....spill over slightly now to Europe..wait till Asia is in bloodbath then go in for your favourite blue chips,Keppel,DBS,Sembawang.etc..so folks be > patient as the worst has yet to happen in SG...
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the last few crisis are never consider world crisis becoz it hit only bit part of the world.such as "asian economy crisis."
this crisis in my opinion is kinda different. the last few crisis do not involve financial sector meaning, business can still run as normal.borrowing as normal.
next, the world has to tackle the high oil prices. this doesnt happen in the last few crisis, all this will lead to higher inflation. that make it hard to balance cutting interest rate and juggling inflation.
finally world recession resulting in lower consumer spending,lower corporate spending which is link to above all pts.
in face of higher inflation risk face by country we are seeing desperate govt of various country using their bazooka that is cutting central bank interest rate. what next then? i dont think the world has any more weapons if the market still fail to recover. definitely henry paulson remarks that more financial closure in inevitable in coming mths just prove the pt right!
we should divert all weapons and pt at oil producing nation not to cut oil supply thus pushing the oil prices further. thus elimination the inflation risk so that the world can concentrate to tackle this financial and global crisis.
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Originally posted by mistyblue:
You are right. The rich are not really affected that much. Its the low and middle class that gets the brunt of the blashlash. Besides, all those CEO who drove their companies to the ground and world economies into hell, walked away with hundred million dollars of package. Then these same companies hire these failure of CEO to be consultant of their now shitty companies.
So I had not seen any of the rich people suffer in this financial meltdown. In actual fact, they might have walked out with more of the people's money.That's why the US public is so unhappy about using their tax dollar to bail out these companies when the people responsible for the melthdown are not penalized but rewarded instead.
Its the same here in our local context. There are many policies that did not deliver and get twisted into a different motivation (eg ERP) while the MPs get pay raise for the sole reason of corruption prevention. I refrain from refering them as brilliant as the solutions for some time now is : The Public has to bear the cost of whatever the Party decides to do.
There is a few countries in western europe...sweden if I remember correctly, that basically bail out the companies, nationalise those companies, and proceed to jail and screw the management upside down.
And their economy recovered in a rather short amount of time.
Hitting two birds with one stone...too bad the Americans can never see such a solution.
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iceland is the latest casulty of financial meltdown.
somehow i am surprise we aint heard anything from Eastern europe yet banks.