financial crisis

[hxan]

lets discuss the impact of financial crisis have on asian economy

[Strong Eagle]

So... what is the impact?

[sundaymorningstaple]

[hxan]

i tink the most notable impact would be the recession that we are currently facing and also a future restrenchment.

[RULDS]

i tink the most notable impact would be the recession that we are currently facing and also a future restrenchment.

How can people say that Singapore is in a recession when it has only been about 6 weeks since the financial crisis. 2 months ago everything was pretty and down it's a disaster? Its funny when something goes wrong and people panic and the world recession gets flung around.

I saw an article in Today, which was not to my suprise as incorrect stating that the US is in a recession. Well, though it is bad....the US in NOT in a recession yet. Only 1 quarter of negative GDP has been provided (-.3%). We wont find out till January if the US is in an official recession. A recession is when you have 2 consecutive quarters of negative growth.

[Barczar]

Hxan, So which one do you work for? ST, New Paper, Today or other? Or is this a school project?

[hxan]

im quite interested in this topic so i decided to discuss it in forum. US is now heavily in debt and most of the people over there seems like they wun be able to pay up their credit card bill to the bank and this could cause be another blow to the US banks after pp already have difficulty in paying their house loans.. With bank in trouble, US economy could suffer thus affecting we asia.... What you guys tink? Do you tink asia economy will again suffer after it have begin to recover abit these few days..

[Strong Eagle]

Some down home advice. When you owe the bank $200 and cannot pay it is your problem. When you owe the bank $200 million and cannot pay, it is the bank's problem.

And so it is. Main street contraction is unavoidable at this point in time. China cannot do anything to jeopardize the US or its trillion dollar pile of US securities goes down the pike.

[tth1311]

im quite interested in this topic so i decided to discuss it in forum. US is now heavily in debt and most of the people over there seems like they wun be able to pay up their credit card bill to the bank and this could cause be another blow to the US banks after pp already have difficulty in paying their house loans.. With bank in trouble, US economy could suffer thus affecting we asia.... What you guys tink? Do you tink asia economy will again suffer after it have begin to recover abit these few days..

the FED had not problem in raising trillion of USD compared to credit card debt of about 2 billion.

[RedSox]

The US has been in a recession by some measures for almost a year now. One agency that takes into account a broader spectrum of metrics on the economy, besides consecutive GDP decline, is NBER ( National Bureau of Economic Research ) which is made up of some 200 university professors and assorted other economists in the US.

NBER has determined the last peak in economic activity was in Dec, 2007. They, of course, take into account GDP, but consider payroll employment and other consumption measures to provide valuable insight to the direction of the economy. By NBER's lights, the US has been in a recession for a year now.

Based on my own "Joe Sixpack " assessment of business on Main Street, USA, I feel NBER'S assessment is spot on.

[ksl]

I love all the naïvety of it's their fault the ones that loan money or your fault because you loaned too much, that you couldn't pay back. Basically the only ones who give a shit are the ones, that loaned and defaulted, the workers of the bank just pocketed the bonus.

It's only my opinion that I'm giving today because i read so much, banks are shit, they play a double sided coin, and the consumer pays top $....yes it hurts me too, because i also play the stock market but not lost, yet! maybe down hell of a lot, but i've kept me cool, because i know it was money that didn't matter, I had never seen it or earned it,it was all profit from the 2000 bull run. but i have always distrusted financial institutions, banks. and even stock markets. because you can, if you believe you are aware of the manipulation that goes on. It always pays to be on the right side.

The 35k limit i have known about for over 20 years, and they will continue to suck the blood, from the consumer..its a known fact that banks and politics go hand in hand at the highest level....the scum of the earth, and those that have reaped and run don't give a toss, and those that preach the fault was your own, is also far out of line.

The whole burden of today situation must lay at the country who takes the lead, in the worlds economy, the biggest con artists of all time, the place where millionaires are created over night, and the place where every other country follows, the big spenders the credit card maniacs...and the dreamers in the world....

Nothing wrong with it, providing you play the stakes and don't get caught like several big players and CEO's have been doing for a number of years. They are fine, major bank managers that have swindled millions, because they make the rules, they have managed to steal the wealth of the world and put two fingers up, at the next door neighbour.

The car manufacturing business, that paid millions to their CEO,s ar enow offering to work for a f...ing $ og of course, because they have millions locked in their bank accounts.

The lowest of the lowest in my life, just like the celebs and UK government, I wouldn't p--s on them if they was on fire, unless i knew they were genuine people of democracy. now that is a big ? That many a debate will maybe cause problems.

But for me, never trust bankers, insurance and other blood thirsty beggars...because they do play a double sided coin, some loose, some may win, but they, the institutions normally never lose. now that's business backed by governments, just like casinos' there is only one mug if you take risk and that is the punters. Many agents are just hangers on, that protect their own butt, if you read the small print.

Its a sad day and many have missed massive fortunes, but those with nothing lose very little Big dreamers and big sufferers, life goes on, money is nothing, and life is life, some say no money no honey, some say no life without a wife, and others just don't give a fcuk.

Myself well I just watch, i've seen it all before, like many others, its a mad old world we live in, and it will never change....although this time around many will suffer, just be aware of the risks, because i'm pretty damn certain we are surrounded by the thirst of evil people. and all you none believers, keep it up, its only a matter of time, before its too late.

Basically we follow trends, doesn't matter if its fashion, technology, or anything else, even politics...and it only comes from western countries, the main ones, with influence, the US and the puppet on a chain country with Europe close in the bag, which have more influence than we really speculate over. Where does all the multi level marketing cons come from and the credit card issues come from.. not forgetting the supreme con men, sportsmen, basketball players, and rap artists. druggies, hoods, and then we have the TV's and cinemas. marketing is an amazing tool, with so many people in the world lacking role models and all that shit.

A quick $ is a quick $, conservatism rules for the majority....competition above humanity is what the USA and UK are good at, and if they cannot do it themselves, they take the best of other countries, to achieve, their goals....money talks. But the people, sadly are just blind silly sheep, with ideologies of grandeur, in their own little dream world. Goodnight godbless and merry Xmas. I'm off on monday to a world unknown, via Hong Kong with the grim reaper.....I'll be back!!!

[RedSox]

I'm not quite sure what the above poster is saying. Perhaps it's the "vinegar" talking, and I hope for his/her sake that's the case because the above post is a pathetic attempt at the english language.

Some points were understood, and even well taken. There's a huge need for oversight needed in the American financial services industry and now with the industry on its knees, it's the perfect time to address that matter. I feel the Obama administration is committed to making that happen and that one silver lining out of this debacle is that such measures are now widely popular in the US. It remains to be seen how well Washington handles this reform, but I'm confident that it will be conducted in manner that Main Street will approve of. Reform will come far too late, but the future will be better because of it.

The auto industry too is in need of reform, strangled by the UAW, poor product focus, lousy products, and greedy/incompetent CEO's. Here again, it's very unfortunate what has transpired but I believe the future will see the Big 3 emerge as better run companies. Again, much depends on how stringently Washington ties green initiatives to loans, and how well the interests of the taxpayers are served, but I'm confident that a better situation will emerge in Detroit.

And, yes, many CEO's across a number of US industries are gluttons who sacrifice shareholder and employee interests in favor of lining their own pockets, before walking away from the train wrecks they create. The mood across the US is very much in favor of holding those CEO's more accountable, and I'm confident that under the Obama administration better oversight here will also be achieved.

The crisis has created a painful mess, but it has also presented a real opportunity for purging many things wrong on Wall Street. Because of this, many Americans sense a new day is coming, not only for the US, but for the world as well.

Finally it needs to be said that while the US is imperfect in many ways, it has effected much good in this world. Singaporeans would do well to realize that if it weren't for the US, they would most likely be speaking Japanese these days, and my UK-based, yet "english challenged", friend (above) would no doubt be attempting to speak German.

[sundaymorningstaple]

It is well apparent that you swallowed the whole package of our democratic president elect hook line & sinker. Hopefully, you will wake up before too long and realize that he's not going to bring about any change at all. Hell, even his cabinet choices are riling all the liberal dems as it's not a change, just to same ole same ole. He's already backpedaled on almost everyone of his "Promises for Change" and he hasn't even taken over the rein's yet. You all bought the biggest con job on the century.

And, if you want to be taken halfway seriously, please play the ball not the man regarding the poster you dissed in your post.

[Strong Eagle]

It is well apparent that you swallowed the whole package of our democratic president elect hook line & sinker. Hopefully, you will wake up before too long and realize that he's not going to bring about any change at all. Hell, even his cabinet choices are riling all the liberal dems as it's not a change, just to same ole same ole. He's already backpedaled on almost everyone of his "Promises for Change" and he hasn't even taken over the rein's yet. You all bought the biggest con job on the century.

And, if you want to be taken halfway seriously, please play the ball not the man regarding the poster you dissed in your post.

Hide and watch, SMS. You confuse the selection of experienced personnel with the initiation of change. You would have had a major sh*t fit if Obama had selected people with no experience in the middle of a crisis. You confuse 'backpedaling' with pragmatic steps in the middle of the mess we are in. You might at least let the man take office before condemning his actions.

[sundaymorningstaple]

I haven't condemned anybody........yet. Matter of fact, I'm all for some of his choices. It just means that those who elected him aren't gonna get what they expected that's all. Now that reality has set in plus apparently a lot of conversations with Duyba via phone from what I understand.

But when his own are getting ticked off, one has to wonder doesn't one?