Andrew, in reply to your locked thread on 'having vison' of the
market bottoming out, you are a shameless charlettan! Do
you intend to set yourself up as a soothsayer, inorder to lend
credibility to your other theories? You are only using forcasted
and natural progression market analysis, and in hindsight at that,
to fool simpletons here.
The fact is that the financial markets had long recovered upon
national leaders' swift responses in adopting keynesian principles
to uphold the market.
What had happened in the past month 'see-sawing' market was only
natural progression as people invested, (where else to park their
money?) and others withdraw to make payouts.
There will be no 'V" shape recovery, but rather, a series of
'hill' type progression on the uptrend, a rally rise, then a fall,
but each 'hill' higher than the previous ones, as confidence and
rationality returns.
Take Iceland for example - it is a bankrupt state now, but
fortunately, it could still loan money to pay
creditors/investors, with leftovers for social spending and
research on its domestic production for better yields to pay off
such loans.
In time, Iceland will bounce back, just as the world will. The
only time we will be in deep shit is when Earth has no more
resources or is unhabitable. We will all be dead to worry
anyway.
So whatever recession or depression occurs, it is only man made,
and what man can make, man can rectify and improve. Proven for
centuries, when the lessons of history was heeded.
BUT all these is scant comfort for the man earning $10k a month,
and now, retrenched, living on $300/mth with bills to pay.
The markets will recover, but will he survived to see its
recovery? This is a question that lingers in many worried minds
now.
But the truth is - Earth still has resources, mankind still has
needs, and markets will continue on as usual, abiet slower. It also
means that even with 10% get unemployed, there are still 90% of the
population that still have jobs, with salaries to pay bills.
And these bills in part pays for other's employment. Thus we
cannot hoard money at home but to keep it circulated to help
others.
If you see your house collapsing into the ground during an
earthquake, would you run inside to retrieve your gold bars in the
safe deposit box or run far and quickly away?
You will most definately run away quick. Point is, you will have
to assess what are your liabilities and what are your assets.
Throw, sell and get rid of your liabilities such as TV, hi-fi, even
wedding rings and even declare yourself bankrupt, so that you may
put food on the table ( NOT for the gambling table) and money to
pay for transport to look for a better paying job than
$300/mth.
Your only asset is yourself, so long as you are willing to work
and not sit at home for months to wait for a dream job. Hard times
are a reality now, but like good times, hard times dont last.
Our grads of the 90's recession became waiters, cleaners, and
taxi drivers instead of becoming doctors, lawyers or engineers, in
order to survive. They didn't mind because they too know, hard
times wont last.
Better yet, when good times return, employers were more than
happy to hire them, for they had shown resilence, humility and many
other good character traits any employer would desperately desire,
rather than to even look at a loafer's resume no matter how star
studded it may be.
I am sure many already know and even doing what i had simply
written. I know because they are Singaporeans, whose forefathers
came from China with only a shirt on their backs, from India on
crowded dhows, and javanese peasants who were sick of groveling
before capricious rulers and their princelings/petty cronies whom
sold out their rich countries to western and eastern potentates for
mere trinklets.
Hand in hand, brick by brick, they built Singapore to what it is
today. A Republic. Founded on meritocracy, equality and resilance
against all odds of wars, colonnialism, imperialism and man-made 0r
natural disasters. OUr citizens are sons and daughters of such
men.
You said:
"in hindsight at
that"
Kudos to AndrewPKYap. Citi is below $5. All your predictions
have come true! We need CHANGE in Singapore! Down with
nepotism! Kick the stupid bitch Ho Ching out of Temasek! PAP
hubris is destroying the country!
http://sgforums.com/forums/10/topics/320112?page=25#post_8595641
Hindsight?
hahahahahaha...
