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| Originally Posted by versa I am more surprised you are the only other poster in this thread.  
A bit more pain I expect but as all the biggies get roasted one by one, let's hope most of the bad news are out already and that we are nearer the end of the tunnel. But as always, the market which is forward looking and a leading indicator for economy by 6 to 9 months, will have to reverse first.
I will update this thread with the latest developments accordingly. |
Well, let's say the two of us plus blondedevil, who works for hbos, are probably the most effected.
Living in the Lion City, I think both of us remember 97 and 2001. I finished my NS in Feb 2001 and it was really hard getting a job and only managed to do so, because my friend had been working at M1.
A lot of people in Singapore are employed by American companies or companies that provide products and services to American companies, so when America sneezes, Singapore catches a cold.
Thankfully, the scenario is not quite the same and more local companies are exposed to other markets, plus we have all these foreigners in Singapore who have created more business locally, but there will be negative developments because of this.
If the government sanction the Fed's bailout plan, America is totally screwed and let's not forget that Man Utd are owned by Americans.
It's really so ridiculous that all these financial institutions were so lax about handing out loans to everybody and then a few smart ******* sold those loans as investments.
Germany;s oldest bank was the first to go and I thought that was a one-off back then and thought them stupid to have bought up so many loans. That was just the tip of the iceberg.
A lot of smart rich people, tricked the dumb rich people and running away with the money, but they have just screwed their entire country.
I think sometimes education makes people dumb.
