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financial crisis

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
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Post by RedSox » Thu, 11 Dec 2008 12:43 am

SMS, if you take the time to listen to the initiatives that Obama is talking about these days they represent an intelligent and honest approach to many of the problems that have arisen on Bush's watch. What don't you understand about that?

Obama has focused his attention on job creation, home foreclosure relief, health care reform, education, greater environmental stewardship, and some serious remedial work on Wall Street and Detroit. Obama hasn't strayed from his campaign platform in any substantive way, and you offer no concrete proof of how Obama has conned the electorate.

If you want me to take you seriously, SMS, try proving how I, and other Obama supporters, have bought "the biggest con job on (sic) the century." Now that will be a con job.

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Post by MikeHS » Thu, 11 Dec 2008 9:14 am

I did not see any place else on this topic so I will respond to the impact in a different way. I am an American expat living/working for a Japanese company in Tokyo. (high level)

What I see here in Tokyo is that many expats from the US and Europe who had very great lifestyles here; school fees paid, large beautiful apartment paid for over 15KUS$/month/ membership paid at the American Club....... are being sent back home or worse losing their jobs. In one high rise apartment building 25 apartments just became vacant. My wife is now a little thankful we were not in that position whereas two months ago she would often feel very frustrated in comparing our situation with our fiends here.

Is the same happening in Singapore?

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Post by sundaymorningstaple » Thu, 11 Dec 2008 9:20 am

Frankly, I could care less whether you take me seriously or not. I also won't have to prove anything at all. Just like all the other presidents good or bad or non-descript, history will do the judging and Americans will as usual get just what they deserve, which may or may not be what they asked for.

I wish him the best and you haven't actually heard me diss the guy either. I just don't think what the voters voted for is what they are going to get. I hope I'm wrong but like I said, only time will tell. Remember, the majority of voters in the US are not like the majority of American voters who are overseas. The overseas voter is likely to have a better grasp on the whole ballgame than "Joe the Plumber" does. I'm all for giving him a chance but I just think that his back-pedaling even before he steps into office has taken a lot of the shine off of your spanking new president. Let's see at the first 100 days recap what has transpired.

Oh, and trotting out the old WWII garbage about "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." :roll: Rather sad when one does not bother to try to know their debating opposition who is most definitely British through and through and has done his time and paid his dues substantially. Have you? Or are you one of those armchair generals?

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Post by jpatokal » Thu, 11 Dec 2008 9:52 pm

RedSox wrote:Obama has focused his attention on job creation, home foreclosure relief, health care reform, education, greater environmental stewardship, and some serious remedial work on Wall Street and Detroit. Obama hasn't strayed from his campaign platform in any substantive way, and you offer no concrete proof of how Obama has conned the electorate.
SMS didn't say Obama conned the electorate -- and I agree, I think the electorate conned (and continue to con) themselves. Look at eg. the whole inauguration hullabaloo, where the guy is getting treated like he's the second coming of Christ.

He's not. He's a politician. A skilled one, obviously, since he made it to President, and his policies and the people he surrounds himself with seem much more levelheaded than Bush's. But at the end of the day, he's just one guy grappling with immense issues through an immensely dysfunctional organization (the government), the vast majority of which has equally immense vested interests in the status quo, and regardless of how much "change" he promises or even attempts to deliver, it's still a total question mark how much he actually can change things. And if you look at his career in Chicago and as senator, it's pretty obvious that Obama is a consensus-building kinda guy, who does not go for radical change of any kind.

Is this a bad thing? Not necessarily. But it's not what many of his supporters are expecting, and Realpolitik like appointing Clinton is already starting to burst their bubble.
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Post by ksl » Tue, 16 Dec 2008 11:12 pm

:D I caught myself a Red Snapper, :P :wink: Got to be in the financial sector :) I'm still wondering what i would do with information from 200 PhD's, lets hope they all have plenty of field jack the six packman. :wink: Keep it up Jack, your words of wisdom look astoundingly academic :lol:

It's a pity you care not, for your own personality, with such a wide audience at hand :roll: I love to catch fish, but don't take it personal!

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Post by irvin95 » Mon, 16 Mar 2009 10:16 pm

The saying that you are citing is true lowela24, however, this crisis will close more doors than it will open windows. This much is for sure!
I am also sure that the crisis will hit the Asian market harder than it was assumed at first. Through globalization all the countries are connected in some way and this is why every country will suffer at least to a certain extent. It has started with many people with financial careers losing their jobs, then went to the car industry and will soon go on to hit many other industries.
The worst thing about this crisis is that no one knows when and where it will end. :?
Last edited by irvin95 on Sun, 22 Mar 2009 9:49 pm, edited 1 time in total.

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Post by Niv00 » Tue, 17 Mar 2009 5:52 pm

Hi people,

Just to share something I’ve read on the newspaper some weeks ago.

During this economic crisis, banks have been calling up their customers to ask them if they would be interested to take up / utilize their credit line facilities. The banks are even giving zero transfer fees with low interest rates to attract customers to take up this offer.

One such customer received a call from the bank for such an offer and asked the bank officer why should he subject himself to more loans during these difficult times?

The bank officer simply replied:
Sir, economy is bad and you might lose your job tmrrr, if that is the case, you will have enough funds to tide you over until you find a new job if you were to take up this one time offer to use your credit line facilities.….

Funny how banks see crisis as opportunities…. :D


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