How long will this Crisis last
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Originally posted by angel7030:
HeLL My Fuhrer!!!,As yr newly appointed economist, i suggest that we should not dwell on the current poor economy, instead, we should relax and think wisely on how to make the best out of these poor economy. For every downturn, it create new millionaires/billionaires when the upturn come around. As my Guru Alan Greenhorn said, "instead of preparing for depression, prepare to take opportunity, the economy at times, need re -enginnering inorder to recover"
There my advise is think of what to do best now, maybe we can open a casket company, cos many will look for suicide during depression, and our old age population sure need casket one, yet it is a business that few venture, what say you, my Fuhrer??
Col Angel
SS Waffen
Nice
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Originally posted by angel7030:
HeLL My Fuhrer!!!,As yr newly appointed economist, i suggest that we should not dwell on the current poor economy, instead, we should relax and think wisely on how to make the best out of these poor economy. For every downturn, it create new millionaires/billionaires when the upturn come around. As my Guru Alan Greenhorn said, "instead of preparing for depression, prepare to take opportunity, the economy at times, need re -enginnering inorder to recover"
There my advise is think of what to do best now, maybe we can open a casket company, cos many will look for suicide during depression, and our old age population sure need casket one, yet it is a business that few venture, what say you, my Fuhrer??
Col Angel
SS Waffen
ha ha ha, like that they can go ahead to make it compulsory for everyone regardless of race and religion to buy their caskets. ha ha ha. Sure make money, more and more $$$ to go to their pockets. huat ah to them while many struggling to keep jobs or are already retrenched! Let the mrs lee kuan yew be the first customer of the casket company. ha ha ha!
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Originally posted by the Bear:
there is something seriously wrong about "don't hoard money"
we are supposed to accelerate consumption?
there's something seriously wrong about that philosophy coz it brought the world to this sorry state now..
Consumerism is the way to spread wealth ethically.
It is economics that led the way to evolution of mankind. Moderate religion helped to dampened the excesses thru moral and ethical conduct. Politics, either democracy or communism in its purest form, helped in the equal distribution of wealth to everyone.
Since the dawn of civilisation, it had always been economics that drove mankind to evolve based on needs. Shelter, fire, food were the a necessity and the mother of invention and improvisation.
Those who had the knowledge to contribute to growth were greatly rewarded, from the stone aged flint maker right thru to the masons who built towns and castles.
As economies grew, so did conquests as well as scientific discovery to make better use of lands, right up to today's discovery of specific genes and its manipulations.
Thus , it was economics that uplifted and evolved mankind, with religion and politics to keep it in check. There is still untold wealth on Earth waiting to be tapped.
Singapore may be a small nation, but our brains are not small. We have similar sizes to amass and process knowledge as any american, russians, anyone and even Einstein.
Open up your minds, my fellow Singaporeans, for thousands of years we had only tap less than 30% of Earth's resources and yet had provided sufficiently for all and more through the years.
70% of Earth is covered with water. What lies beneath the seabed, if not as similar to our current 30% land mass?
Who is to say we cant tap the seabeds? Continents and islands are not straight drops into the seafloor. At least another 30% lies within shallow waters waiting to be resourced.
We have nuclear powered cities called aircraft carriers and even nuclear submarines that do not need to refuel for years. We have successfully modified the genes of ornamental fishes to the colours of our choice and grown human parts from genes.
Who is to say we cannot manipulate genes to enable man to adapt and live under water?
Earth is still abundant in riches. We all have needs to be at least morally satisfied. Consumerism will help to evolve mankind as we scientifically leap to cultivate and satisfy those needs.
The rich who worked hard for years, earned their money and paid millions for frivolities such as trips into outer space. If these millions were not used, it would have only sat at home or banks and benefitted no one.
We must encourage people to get rich and seek a better life. It is through such satisfaction and meeting of needs will wealth and improvement be spread to all mankind, provided religion and politics play its part.
Religion alone will only cause us to remain as we are and only grow spiritually. Misused, it may even cause genocide. Politics will only lead to power and when misused, it will only destroy mankind.
A balance of economics and the other 2 factors will help us evolve to our eventual destiny - the stars.
Alan Greenspan was wrong because he believed that economics alone will power mankind's weath and evolution. One needs the hand of moderate religion and politics to keep it in check, as the financial crisis had provened. Cheating widows and old folks is outrageous!
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Most likely L-shape recovery. This might be the worst recession of the century. Major corporations going bust.
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i ain't talkin' about religion.. i'm talkin' about consuming as fast and as much as you can as a measure of "wealth"
that ain't it...
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......... does Hitler agree with you?
hi webben how are u?
i dont know whether hitler is good in economics.
But i think he will told the arab world that should he got the oil he needed and win the world war 2. middle east will be a much different landscape now.
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As yr newly appointed economist, i suggest that we should not dwell on the current poor economy, instead, we should relax and think wisely on how to make the best out of these poor economy. For every downturn, it create new millionaires/billionaires when the upturn come around. As my Guru Alan Greenhorn said, "instead of preparing for depression, prepare to take opportunity, the economy at times, need re -enginnering inorder to recover"
There my advise is think of what to do best now, maybe we can open a casket company, cos many will look for suicide during depression, and our old age population sure need casket one, yet it is a business that few venture, what say you, my Fuhrer??
Col Angel
SS Waffen
greenspan can go fly kite.
yea, please make a proposal on the casket company.
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So essentially Alan Greenspan was correct, the market would regulate itself. However, it would only do so after the threshold point has been crossed not before.
maybe the US treasury and current fed chairman dont think much of greenspan policy otherwise there wont be so much bailout.
this crisis has proven greenspan is wrong. maybe the next crisis can prove bailout is right or wrong.
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Originally posted by reyes:
maybe the US treasury and current fed chairman dont think much of greenspan policy otherwise there wont be so much bailout.
this crisis has proven greenspan is wrong. maybe the next crisis can prove bailout is right or wrong.
Heh was trying to be sarcastic, guess i wasn't very clear about it.
But the way i see it, the bailout will only delay the problem and setting ourselves up for a harder fall. Believing the market will self regulate is as ridiculous as asking people not to be greedy.
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Look s like things are getting worse with gov revising the projection and obama failing to lift the market it is dead certain now that econmy will not revive much later into 2010
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Originally posted by seancannot:
Look s like things are getting worse with gov revising the projection and obama failing to lift the market it is dead certain now that econmy will not revive much later into 2010
Lol! You are such a pessimist!If economic data and stats are to be taken at face value, this crisis would long had been predicted and avoided.
One needs not be frightened by the revised projection. It only shows the future or the next 12 months where the market will be headed IF NOTHING'S DONE, for govts and businesses to act accordingly. Do remember it is only a measure of projection, and as for real data on human spontaneity, it can never be predicted.
All over the world, stimulas packages are being worked out, and will take time to take effect.
So, hang on tight, buddy, the ride may be rough now, but it aint gonna get any more tougher. Stimulases will work, so long as everyone get rational and spend normally.
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Originally posted by xtreyier:
Lol! You are such a pessimist!If economic data and stats are to be taken at face value, this crisis would long had been predicted and avoided.
One needs not be frightened by the revised projection. It only shows the future or the next 12 months where the market will be headed IF NOTHING'S DONE, for govts and businesses to act accordingly. Do remember it is only a measure of projection, and as for real data on human spontaneity, it can never be predicted.
All over the world, stimulas packages are being worked out, and will take time to take effect.
So, hang on tight, buddy, the ride may be rough now, but it aint gonna get any more tougher. Stimulases will work, so long as everyone get rational and spend normally.
Well said my friend , may the economy bottom out by Q3 and we are on the road to recovery , and we do fret over the loss of our livelihood
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Economics had or will be playing its part and governments are doing all they can to convince its citizens on the need to open their reserves for spending. Only 1 final factor is necessary to save economies now.
That factor is religion. During normal times, religious leaders exhort its congregations to donate to charities, which is right, be they Buddhists, Christians, Hindus, Muslims, etc.
Charity is good for it takes care of the unfortunates in life. But these are not ordinary times. As millions go jobless, there will be lesser donations. The rich will still contribute but their contributions cannot compare to that of the millions or billions whose combined donations would be larger to help more.
The financial crisis is upon us now. There is a loss of trust in financial systems, even for those companies whom are innocent, for the massed herd make no distinctions and simply hoard money. Prevention is better than cure is the current philosophy.
It may seem unbelievable, but many in our world is more attuned to religion than realized. Even bankers go to church, mosques, temples, etc. Many are aware and believed in the existance of a greater Being than themselves and seek for His blessings.
Thus, one word from religious leaders is better than a thousand page analysis from credited economists, for the masses need to know that their actions would be blessed and is right.
It is only right now, in the light of this current crisis. Many will become jobless, hungry and may even die from starvation. This is not what an Almighty would want to happen for His creations. Thus there is a need for religious leaders of all faiths to help spread the message to the masses to spend rationally and not selfishly hoard money.
It would save the world now, espacially with a new world leader in Obama whom had taken the oath to ensure responsibility of financial leaders to prevent greed and take good ethics more seriously.
Religious leaders must help. This will be the final act to successfully get a market recovery in the real economy where jobs lay. Without it, means trust and confidence will take a longer time to build. Lives may be lost if that happens.
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"They don't know what they're doing, do they? With every step taken by the Government as it tries frantically to prop up the British banking system, this central truth becomes ever more obvious.
Yesterday marked a new low for all involved, even by the standards of this crisis. Britons woke to news of the enormity of the fresh horrors in store. Despite all the sophistry and outdated boom-era terminology from experts, I think a far greater number of people than is imagined grasp at root what is happening here.
The country stands on the precipice. We are at risk of utter humiliation, of London becoming a Reykjavik on Thames and Britain going under. Thanks to the arrogance, hubristic strutting and serial incompetence of the Government and a group of bankers, the possibility of national bankruptcy is not unrealistic.
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It is finally dawning on the Government that the liabilities of the British banks grew to be so vast in the boom years that they now eclipse the entire economy. Unfortunately, the Treasury is pledged to honour those liabilities because it has guaranteed not to let a British bank go down. RBS has liabilities of £1.8 trillion, three times annual UK government spending, against assets of £1.9 trillion. But after the events of the past year, I wager most taxpayers will believe the true picture is worse.
Meanwhile, the assets are falling in value. This matters, because post-nationalisation these liabilities are now yours and
mine.And they come piled on top of the rocketing national debt, charitably put at £630 billion, or 43 per cent of GDP. The true figure is much higher because the Government has used off-balance sheet accounting to hide commitments such as PFI projects."
- Gordon Brown brings Britain to the edge of bankruptcy
"The tactics, however, betray a nervousness in Labour circles that the public will simply not understand why there is a second tranche of help going to Britain's bankers, who have already received billions of pounds of loans, guarantees and capital. There is also a worry that Brown's inadvertent title as saviour of the world might be slipping.
Opinion polls show government popularity falling in the new year. David Cameron may be internationally isolated in his opposition to a fiscal stimulus, but it does not seem to be hurting him. A YouGov poll in the Sunday Times showed Cameron's Tories rising four points to take a 13-point lead.
Privately, something close to desperation is starting to develop inside government. After watching the slide in bank shares on Friday, one cabinet minister did not altogether joke when he said: "The banks are fucked, we're fucked, the country's fucked."
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You are right. Crisis ? What crisis? Don't focus on the world crisis. The crisis for Singapore began long ago way back, when Singaporeans started flocking overseas for holidays and travel, and especially going to Malaysia and Batam and spending almost their entire monthly pay there on shopping, entertainment, leisure, medical, motor, sports, education, etc The result? Singapore domestic economy is near dead, with almost all retail and consumer spending almost nil. Singaporeans should only blame themselves.
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those who are banking on Q4 recover, you are going to be very disappointed.
this recession would at least last beyond that.
the stimulas package that dish out by various govt are not really going to work wonders. various forumers has already pointed out the amount of toxic asset that the banks still hoarding will make the problems worse.
The TARP that initally set out USD 700billion has already spent 350billion on various bailout but some top economist think another 1 trillion USD could be needed to clear out the all the toxic assets that these banks still hoarding. but then if the housing prices has not bottom how do they value this assets?
i strongly believe, credit cards defaults is definitely on the rise , banks will have to prepare provision for bad debts , further reduce their ability to make loans dispite govt help.
jobs loses are mounting in the US and across the world, housing pricing are falling across the world. if both dont stop, the credit crunch will get worse.
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john thain of ML has just been given the boot. i am lost of words how could he ever spent 1.2million to renovate his office toilet possiblity using govt/ tax payers bailout money. i cant help but relate him to TT durai.
Mr lewis of BOA could be the next on firing line for failing to notice the mounting loses on ML before the aquisition.
but happen to Temasek ? i bet besides taking a minor paycut everyone of their jobs are safe like heavens huh?