Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems. Thus I feel that we as citizens around the world should voice out in these times of need and we should be concerned with what's happening to the world as it affects each and everyone of us. I do hope that you all have something to comment, anything would be great. Thank you.

Amen

anyone who has any comment about the gobal financial crisis would be great.

according to all my friends and family in SG, ppl are still spending money like crazy over there, so it's not that obvious that there is a financial crisis yet.

Every thing should be fine if China is doing OK, me thinks the government is not too dumb to depend on US stocks markets only or Singapore will be screw like S Korea which is a good thing.

i heard from my bro that the SG government is compensating those old people who had only Primary School education and were misled by the banks to buy Lehman Bros mini bonds and lost their entire savings....

I wonder if other countries do the same bailout for the man-in-the-street??

Its political dear....its case by case basis for those proven by the bank negligence especially those who cant read english. The risk was clearly stated on the 1st page of the agreement

Economic crisis.....now the financial sector is retrenching. DBS will shed 900 in coming months. The whole impact is still unknown. In construction industry where I am, some projects are delayed but those contracted we have to fulfilled the contract which is a good thing.

I actually welcome this crisis.....cuz the prices are way crazy these days in terms of raw material and labour cost. HDB housing and rentals are also crazy....so hope the economic crisis somewhat bring the price equalibrum

I totally agree with you guys...my girl wanted to be an investment banker but now because of the economy she's afraid she cant. How the economy is destorying dreams... =((((


what do you think we can do for ourselves? Learn to save as much money?? What you guys think we can do?


thank you for all of your replies....

Today i read the newpaper and this is it Govt Spending desirable: World Bank saying that the East Asian economies need fiscal boost. the article is talking about how asia is taking steps to fight the financial crisis...

Every economic crisis teaches us something and re-write books and throw away certain ideas

During the our asian crisis....the west dont agree with all the bails out...but look at the world now. Transparency in lending is the biggest problem that led the crisis. Lending was so easy and the financial market was allowed to dictate themselves and repercussion is so great now that they dont know what to do

Let's see how the world manages with all this changes. What I want to see is prices to come down which is crazy as this moment to more market equalibrum

And to many singaporean at large.....its a wake up call

as for the dreams shattered girl...oh cum on. Where there is a will, there is always a way!

ummm my cousin who worked there started to feel it ....
salary cut bonus cut >.<!

What is better? To bailout?

to teach him to fish or to give him the fish?
Someone may say that under current situation, we have no choice but to "give him the fish", or else he will die due to hunger.

It seems that bailing out may be the only solution?

PERSONNALLY I feels that bailout is not the only option - I would rather "FIGHT together" with the citzen!

Apart from executing fiscal and monetary policies, if government going to empower with $$$ and authority, I would gather a team of Crisis fighters to do the ground work fighting.

2 years back I already aniticipated bad time is coming ... however I never expect it comes 1 year faster than I expected. I already saw many people collapse and burnt badly, some individuals even went bankrupt with the statement of affair for more than 40 millions! If there is a team of Crisis Fighters to activitly working on helping shrinking market, we can see a strong country and happier citizen a compare to just receiving more money or aidings that only can resolve very surface issues.

My Dream Crisis Fighters Team shall play the role of:
1. Provide coaching to entreprenuer on how to fight through the crisis
2. Provide counseling work to the crisis victim
3. Create job and business opportunities - through creating new market
4. Provide education on fighting crisis
5. If possible build another revolutionalize bank
6. A crisis Venture Capital .... well, can this be a VC that only loss money?

In the Asian financial crisis, the US told the asian nations to swallow the bitter pill and let their banking industries fail... and those banks that survive to become stronger through the survival

Now we see that the bitter pill is too hard for American banks to swallow... and even their auto industry

Me thinks america has lost $hitloadsa moral authority

Well, it is always easier to watch your neighbor's house burned than your own house burned.