Hi Friends,
Due to recent turmoil in financial markets the way is open for an economic gloom and recession .... 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 during which recession is expected to last.
Suggestions:
1. Don't take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible.
2. Pay off as much of personal loans, private loans, as debt collection will be hastened.
3. Sell any stocks you can even at lower prices.
4.. Take money off from Trust Funds.
5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
6. Don't invest in new capital.
7. If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall.
8. Don't invest in new business proposals.
9. Cancel holiday plans using credit cards.
10. Don't change jobs, as companies will retrench based on 'last in first out'.
Stay cool, wait, and if you took all of the above actions and 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 future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world. US economy falls, the rest will crumble.
India and all those self economies will be the most protected, but not gullible.
Europe may be a little stronger, but not China, another giant! 
lace like
Malaysia will see significant impact.
Be alert and pass this to which it may concerns /friends!
Comments most welcome...........
Best Regards.
Dharmesh
Dubai
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dharmesh
Quote:
Originally posted by Dharma
...........
3. Sell any stocks you can even at lower prices.
................
If you sell, you lock in your losses. Will all the stocks be worth $0 tomorrow? Probably not.
(This is not an investment advise)
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Give free food http://www.thehungersite.com ||
Location: God's own country
Posted on: 15-10-08 17:51:54
Dharma,
I appriciate your post.
Though you live in Dubai / UAE, you have put the essence of Canadian living in a nutshell by condensing the whole to just 10 points (and gem in that).
Good post.
Peace by TK
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I am a Gents and not a Ladies.
Quote:
Originally posted by Dharma
Hi Friends,
Due to recent turmoil in financial markets the way is open for an economic gloom and recession .... 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 during which recession is expected to last.
Suggestions:
1. Don't take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible.
2. Pay off as much of personal loans, private loans, as debt collection will be hastened.
3. Sell any stocks you can even at lower prices.
4.. Take money off from Trust Funds.
5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
6. Don't invest in new capital.
7. If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall.
8. Don't invest in new business proposals.
9. Cancel holiday plans using credit cards.
10. Don't change jobs, as companies will retrench based on 'last in first out'.
Stay cool, wait, and if you took all of the above actions and 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 future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world. US economy falls, the rest will crumble.
India and all those self economies will be the most protected, but not gullible.
Europe may be a little stronger, but not China, another giant!
Malaysia will see significant impact.
Be alert and pass this to which it may concerns /friends!
Comments most welcome...........
Best Regards.
Dharmesh
Dubai
Worst advice I have ever heard!!! If everybody does this money which is the lubricant of the economy will stop circulating and we will go in a downward spiral. Soon companies will stop producing goods because nobody will buy them. Since post World War II Americans with their spending habits have supported the world economy. Their consumption has financed companies, paid your and my salary and brought forth the many inventions and progress we see today. Today when Americans are retrenching the world should step up and start spending normally so that money is kept in circulation. Of course Americans went overboard but there is no need to keep that money in your mattress at home because eventually that will hurt all of us and we will go back to the Dark Ages with no innovation and no progress. People who sell their stock now will lose out on the bull market which will eventually come back. Everything ultimately regresses to the mean.
Sure spend wisely and not on credit but keep normal spending up and live life!! As a result of all the cutbacks American corporations will eventually get on track. If Coke and Walmart can report higher earnings in this economy imagine what will happen in good times. In another 3 to 4 quarters, due to leaner payrolls, low interest rates and government intervention, the American economy will come roaring back. But in the meanwhile it is important to not spread gloom and doom scenarios like this.
Dharma:
Not sure there is much credence to your post. If you are really living in Dubai, you are obviously a tad detached from reality in Canada. Interest rate has been cut. Real estate prices are low. Not sure if some of your advice applies as a result.
If you are changing jobs based on merit - which should be the reason primarily - you don't need to worry about "last in, first out" nonsense...and this has nothing to do with economy by the way. Companies looking to clip and chop and slash a gash into their workforce aren't hiring to begin with.
Regarding your prediction that the whole world will fall...I just have to smile at that drivel to be honest.
What do you mean by "India and those self-economies"?
How are things in Dubai...? Things sheikh-y or not?
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If you have a gun, you can rob a bank.
If you have a bank, you can rob everyone.
- Bill Maher
Location: God's own country
Posted on: 15-10-08 23:37:31
He has said it from a desi point of view.
We are not like the North Americans, Blowing up the week's pay during the weekend and then getting the pay on Monday , only to blow up everything the coming weekend on beer, cottage, buffets, games etc...
What Dharmesh said was very responsible. Try to keep a low profile by saving and not making any rash monetary decisions. Desi's in NA are a very small population and hence our prudence will not affect anything...
Dubai is doing quite well for your information. Salaries are high and the standard of living is far better that what it is in Canada for educated professionals...
Hope this helps
Peace by TK
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I am a Gents and not a Ladies.
Location: God's own country
Posted on: 15-10-08 23:39:55
He has said it from a desi point of view.
We are not like the North Americans, Blowing up the week's pay during the weekend and then getting the pay on Monday , only to blow up everything the coming weekend on beer, cottage, buffets, games etc...
What Dharmesh said was very responsible. Try to keep a low profile by saving and not making any rash monetary decisions. Desi's in NA are a very small population and hence our prudence will not affect anything...
I agree with the "Last in and first out" senario. May not be applicable to GM / Ford/ Automobile industry but it does apply to 95% of businesses in Canada (including the IT sector)
Dubai is doing quite well for your information. Salaries are high and the standard of living is far better that what it is in Canada for educated professionals...
Hope this helps
Peace by TK
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I am a Gents and not a Ladies.
