So now the Dow Jones has fallen below 10,0000 points, billions upon billions of USD has been vaporised in the thin air and there are no positive signs that things are going to get better, already there are indications that Asia is fast catching the cold, sneazed by the US from the melt down. Korea being the world's 13th largest economic pillar is feeling the heat now. (remember 1997, when Koreas sneazed, the rest of Asia caught cold), foreign fund managers are making quick exit from the Asian market, fearing that the heat is roaring soon, (as time of writing this post, local bourse has dipped another 18 points)
The current US melt-down in my opinion has far more detrimental effects that we could imagine, it will get family killed, it will cause social unrest, and many more are heading to the mental asylums, scores upon scores are jobless, and many more are made homeless.Just read one news about one US Indian Immigrant got his family and the mother in law killed because of the supposedly financial woes he was facing.
May be we cant really feel the heat yet in Malaysia, but we can not be in self-denial that it is not forthcoming, just look at our political scene, it is so uncertain that's why we are losing the foreign investment
Right here ,i was so stunned to hear our politician saying that Malaysia is not affected by the US melt down, and we should not be too pessimistic nor should we be too optimistic about the whole thing. Come on, i might say, if you had millions stacked in the bank, of course you dont have to be worried, but everytime when there is an economic crisis, who will suffer the most, it will be ordinary folks like you and me.
I am not an economic expert, but i believe in fundamental teachings, we dont spend more than we earn, we dont use future money, we dont lend to those 10,000 when they can only afford to repay 1.000, we dont believe that good times will not go away, and most of all, we dont speculate.
And the crazy thing is, most of us know about all these fundamental teachings but we just cant be bothered to believe.
Personally, i dont see the current economic woes will ease any time soon, if we were to watch or read everyday about the news, i cant be too optimistic that it will.
P/S. sometimes it is good to let it rot, so we can change our thoughts