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| US banking crisis | |
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| Tweet Topic Started: Sep 15 2008, 10:19 AM (1,414 Views) | |
| myphotoshop | Sep 15 2008, 04:27 PM Post #11 |
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Alpha Sniper Member
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the effect of the crisis is simple > shortage of money |
| "PHOTOSHOP" helping the ugly since 1988 | |
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| Ming | Sep 15 2008, 11:46 PM Post #12 |
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90609866
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Shortage of money for the Big Companies ah ?I don't think we will be short on Money , its 'Always' the 'Never Enough' only ma . Frankly , i really don't see the effect on us , the small little common citizens of a small Country ... Everyone still goes to work , goes to school , goes shopping ... Get a job to work & live happily . I know 2 words , something like be persimistic & optimiztic or what ... I am always looking at the 'Bright Side' !
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Ask ... Absorb ... Equip ... Execute N E X with M I N G HERE ! A P - Ming HERE ! Macro-Ming HERE ! Pano-Ming HERE ! Food ! Food ! Foods ! HERE | |
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| ongl | Sep 16 2008, 06:15 AM Post #13 |
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Alpha Sniper Member
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Everyone still does their work as Ming said, but you'd see the difference in corporate world. Singapore economy is pretty much following US. In 2001, shortly after 9/11, I recall economy was not doing well here. House prices started to tumble, my company was in cost saving mode and many people (incl. me ) didn't get any raise for 2 years. Unemployment goes up, etc. People who lives not exceeding their means, will have some buffer to anticipate increases in prices, etc. But people who lost a job or living in the limit of their means are in unfavorable position as small changes in price/job can impact their family a lot. Now we don't really see it impacting Singapore as 2001-2002 did, it'll go once europe and US are in recession, no one (except China??) spared. Here is simple example: Recession leads to job cuts and reduction in 'Expats -> Reduce rental / sale or property -> More supply than demands -> Price went down. (2000-2003) Recovery leads to increase in 'expats' -> increase rental/sale or property -> less supply than demand -> price went up ( the last three years?) Edited by ongl, Sep 16 2008, 06:17 AM.
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| sulhan | Sep 16 2008, 06:31 AM Post #14 |
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Alphadslr Photo Critique member
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Don't you think the whole problem is due to the concept of Interest. Interest creates money out of nothing. It creates money out of time. This causes those who are in dept to be more in dept and the one who loans out money thinks he have more money from the interests in numbers. Spend on other larger priced things and If those in dept can't pay out then this create a vacuum in actual available money. Too bad this does not happen in time...it snowballs to a later stage that will just burst out of control. Its like a ticking Bomb. |
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| Light | Sep 16 2008, 10:42 AM Post #15 |
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not only limit to banking. giant insurance company, AIG is the latest victim of this finanical crisis |
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my photography blog My Flickr DNA | |
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| Mirror Slap | Sep 16 2008, 11:03 AM Post #16 |
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aka ninelives
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-------------------------------------------------------------------------------- HP to cut 24,600 jobs as part of EDS integration Monday September 15, 5:20 pm ET By Jordan Robertson, AP Technology Writer Hewlett-Packard to cut 24,600 jobs, nearly 8 percent of work force, in EDS integration SAN FRANCISCO (AP) -- Hewlett-Packard Co. said Monday it plans to slash 24,600 jobs over the next three years, nearly 8 percent of its work force, as it combines operations with Electronic Data Systems Corp., the technology-services company it recently acquired. ADVERTISEMENT Most of the cuts will come from within EDS's ranks, and nearly half will hit jobs in the U.S., HP said Monday after the markets closed. HP had not previously detailed how many employees of the combined company would lose their jobs. Before the acquisition, HP had 178,000 people and EDS had 142,000, a total of 320,000. HP was expected to reveal more details about the integration at a meeting with financial analysts in San Francisco later Monday. Palo Alto, Calif.-based HP bought EDS for $13.9 billion in a bid to challenge IBM Corp. for more of the lucrative, long-term business of helping companies manage their computing infrastructure. HP expects to save $1.8 billion per year from the cuts once the restructuring is complete. The company will incur a $1.7 billion charge in the current quarter, its fiscal fourth quarter, for a goodwill adjustment and other costs connected to the restructuring. HP CEO Mark Hurd has been aggressive about cutting costs since he was hired in 2005. His first big act was a major restructuring that eliminated nearly 15,000 jobs. Hurd's changes have helped HP wring more profits from its businesses even as the personal-computer industry as a whole grapples with shrinking profit margins, and HP's crown-jewel business -- printer ink -- faces intensifying competition from lower-cost competitors. HP shares fell $1.64, or 3.5 percent, to $45.33 in regular-session trading. In after-hours trading, the stock gained 42 cents to $45.75. |
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| sulhan | Sep 16 2008, 02:11 PM Post #17 |
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Alphadslr Photo Critique member
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Yo Bro... This has got nothing to do with banking crisis lah... |
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| myphotoshop | Sep 16 2008, 02:32 PM Post #18 |
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Alpha Sniper Member
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the banking crisis is just part of the CRISIS. to have a global recession quick and serious, simply attack the banks first... and the rest of the industries will follow like a domino effect... consumer and corporate spending will cut back as banks cannot lend out loans.. projects will be shelved off... demand for labour will reduce... jobs will be cut down. question is there a solution ? i guess not for now.... becos USA national debt is now twice the size and u cannot borrow your way out of debt, the only way is to face the music and accept re-valuation of the dollar ! Edited by myphotoshop, Sep 16 2008, 02:34 PM.
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| "PHOTOSHOP" helping the ugly since 1988 | |
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| Light | Sep 16 2008, 02:41 PM Post #19 |
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chain reaction effect what would happen if US companies here decide to divert large amount of fund back to their country? |
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my photography blog My Flickr DNA | |
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| myphotoshop | Sep 16 2008, 02:48 PM Post #20 |
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Alpha Sniper Member
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they had not much money to divert... not just uncle sam... i dun think dragon accounts are clean.... guys.... i am not being negative.... i just said the truth... it is an treacherous world. |
| "PHOTOSHOP" helping the ugly since 1988 | |
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Shortage of money for the Big Companies ah ?
8:49 AM Jul 11