Recession is coming... make your own judgment, don't panic!!! Do what is wise. The recession looks very eminent... It is really time to take pro active steps to avoid a painful time in the next two years which is how long the recession is expected to last.
Suggestions:
- Don't take any loans, buy homes, properties with loans, or even cash. Keep as much cash as possible.
- Pay off as much of personal loans, private loans, as debt collection will be hastened.
- Sell any stocks you can even at lower prices.
- Take money off from Trust Funds.
- Don't believe in huge sales forecast, be extremely prudent, lower inventories, reduce liabilities.
- Don't invest in new capital.
- If you are selling homes/properties/cars , do it now, when you can get good prices, they are going to fall.
- Don't invest in new business proposals...
- Cancel holiday plans using credit cards.
- Don't change jobs, as companies will retrench based on 'last in first out'.
Stay cool, wait, and if you take all of the above actions or more, you probably will be better off then many. This is not a rumor. Bear Stearns is the first of many banking and financial institutions that will start falling in the not too far future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world. Malaysia will see significant impact.
It's all so frightening... All I know as a layman is that everything now seemed to cost a lot more than vs. say 6 months ago. Like how my monthly car park at work will be increased from RM152 to RM180 starting next month (that's +18.4% increase!). And just the other day, I went to pack 2 boxes of chicken rice from a coffee shop while OWLoon waited in the car. He gave me RM10 which both of us thought was more than enough... But guess what? The 2 boxes of rice came up to RM10.80!
So what if petrol price has reduced? Everything else has gone up up and up!!! M.u.s.t. really s.a.v.e. M.O.R.E!!!
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