If you read the article you'd see that the drop off is far more severe this time... a few percent in the last recessions... double digits this time that could last 6 years.haggle wrote:Asian Financial, Dotcom Bubble and SARS but Singapore, HK, US, UK etc bounced back each time. Credit Crunch is the same. I hope
Unfortuately you are well out of tune with what is happening and and a few lines on this forum will not help.winger7 wrote:Its not time to be too optimistic I know but from what I understand Asia will certainly recover faster than the west. Obama has come out yesterday and just said that the end of the current economic crisis COULD be over soon...key word: COULD. I also suppose HK is in a better position than SG since we can always depend on China...and China is probably one of the countries that has not been affected as severly
Dear winger7 I am probably one of the most optimistic people you will ever meet, some call me bloody crazy in fact!winger7 wrote:well i probably do...those were words of optimismpakjohn wrote:Unfortuately you are well out of tune with what is happening and and a few lines on this forum will not help.
Couldn't agree more...
It is a paper profit and there are a million ways to generate a profit or loss in a complex accounting system. A lot of people say it is 'smoke and mirrors' profit, designed to look better to attract investors.winger7 wrote:just on the papers today I saw Citibank on the front pages saying the bank has made profit.
Nice to see someone with a head on their shoulders, you should do well, you have the right game plan, and can possibly use it to your advantage, over a quarter period.pakjohn wrote:I generally don't trade stocks but when Citibank dropped to a dollar it was worth a 1000 USD gamble. It's doubled in price because of bottom feeders like me. I see oil stocks still dropping and people were selling oil exploration company stocks that were once smoking hot. The bottom feeders come out and drove a 7 percent rally on oil stocks but now they're cheap again. (I bought BEXP because it's not likely we're going to stop needing oil in the next 5 to 10 years.)
I'm buying real estate and commodities for the most part, but couldn't resist BEXP and Citi
Seems like most of what you read in the papers is designed to either sell papers (US) or shape public opinion. (Sing)
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