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US banking crisis
Topic Started: Sep 15 2008, 10:19 AM (1,412 Views)
mahojazz
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ERIC
ming, this crisis is going to affect everyone ah..... i am worried of pay freezed for the next 2 yrs or worst, pay cut.!!!! haiz. Must tighten my belt le. sob.
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Ming
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:sweat:

I remembered that time liao ... But don't know which year ... ? My Ex-Company did a pay deduction & CPF Deduction from the Company was affected , for more than 2 years ... But after all , we get back every cents deducted after the everything was over .

If this is going to happen again , too bad then ... :cry:

But 'Smile' ! Thats me !

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ongl
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sulhan
Sep 16 2008, 06:31 AM
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.
I understand your thinking that's why Syariah banking is getting more popular. But I think interest creates little effect compared to stock market. Stock market can create huge 'asset valuation/market caps' billions of dollars in no time.

Consider the google stock who jumped from 80+ to 400+/share in short time. It created additional 5 times amount of money in 1-2 years... The real asset does not really expand by 5 times. Similarly, during lehman brother's incident, the stock market plumetted 95% eventhough their asset doesn't drop to that level.
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jaLib0y
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all this is retribution i tell u. hoohoho
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way2see
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Hmm... Virtual money... Virtual assets...
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ayukawa
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This crisis will affect everyone, not trying to be negative but i think we have to be much more prudent in spending. At this rate, economy will surely get worse before it gets better.
Just live within your means.

Credit crunch will surely affect everything, just a matter of exposure amount.
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yk200
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psccy
Sep 17 2008, 12:45 PM
Hmm... Virtual money... Virtual assets...
no no ..it is not virtual $ and virtual asset..

it is all cause by the money multiplier.
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mahojazz
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haha, so guys, are u all still going after A900? lol or going to wait for sony to drop price of A900 coz not selling well. HMMMM....
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Trigger Happy
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ayukawa
Sep 17 2008, 01:06 PM
This crisis will affect everyone, not trying to be negative but i think we have to be much more prudent in spending. At this rate, economy will surely get worse before it gets better.
Just live within your means.

Credit crunch will surely affect everything, just a matter of exposure amount.
indeed. this will impact everyone.

Ming, how will it impact you and I? in a VERY simple way to view it: banks need to cut cost, reduce staff salaries/ cut jobs. in turn these ppl will make moderate to drastic changes, depending on their lifestyle. that means they have no money to eat sushi, and the restaurants will close, staff will lose their jobs, and the same cycle continues until there is a general recession.

even if you guys have spare cash lying around, better hang on to it for now, this is going to be a rough ride...
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Ming
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Its really hard for me to see it coming because everything happening around me has got nothing to show me that they are worrying about this Crisis thing ... :sweat:

My Insurance Agent is still going for Holidays all year round to enjoy life ...

My current Sushi Shop is expanding aggressively as ever all over Singapore & all the way to Vietnam ... Staffs are being traded to Taiwan & England for better prospects ...

My views on the Consumer Market seems to be 'Always' got new things for people to buy & these people really 'Buy' , these Big Company Names don't close down ...

Maybe all i see are so small , so little , i don't feel anything about it ... :faint:
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