In this economy… In this economy… In this economy… In this economy… :D

“In this economy”…

It’s starting to get annoying eh? Hahaha.

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Alan Grayson: Is Anyone Minding the Store at the Federal Reserve?

A shocking video (or perhaps not so?) of Rep. Alan Grayson asking the Federal Reserve Inspector General about who keeps track of the trillions of dollars lent or spent by the Federal Reserve.

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Fareed Zakaria (CNN) talks to Michael Lewis (Liar’s Poker) about the economic crisis and Wall Street’s future

Have a look at this video:
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Unemployment exists in Australia? Huh? Really?

I was talking to a person the other day and he asked me about my plans after graduation. I then replied:

“Oh, perhaps I’ll return to Malaysia after uni. Maybe I won’t apply for the permanent residency. You know, it seems really hard to get a job in Australia these days. Even Rio Tinto (a mining company) laid off hundreds of their people a few days ago. Unemployment rate is well through the roof right now. I don’t think I’ll be able to get a job here”.

To which he replied:

“Huh?? Unemployment exists in Australia??”.

I was gobsmacked…….

Moral of the story: Watch more TV 🙂

The end.

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Mengikut Dr. Mahathir, Ekonomi Dunia Makin Tenat (Malaysia Kini)

Read the article here.

According to Dr. Mahathir, the world’s economy is worsening day by day. Things are getting from bad to worse. He also said that Malaysia will be affected, whether we like it or not.

My opinion: Indeed, I don’t think we’re out of the shits just yet. One by one, giant companies are falling like flies. Bad news are announced consistently.

For the past couple of weeks however, things might seemed to be stabilising a little bit but I am still skeptical. Some experts are saying that a base is forming in the stock market, but I’m still not convinced. I still think that the bears are still in control. Boy oh boy I hope I’m wrong.

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Should we save our money or go on a spending spree in the current crisis?

What do we need to do in the economic crisis that we’re facing at the moment? A lot of people are advocating that we shouldn’t splurge and we should save our money for the future.

Is that notion correct?

Going back to economics 101, it’s actually the other way around. As we all know, negative Gross Domestic Product (GDP) growth equals a recession. To support GDP, one actually needs to spend his/her money. Only then you can fuel the economy. If we save, we’re only crippling the GDP.

During an out of control economic boom do we only start cutting down on our expenditure so as not to allow the inflation goes out of hand.

However, of course, things are not as simple as that. The emotional distress that a financial crisis gives you alone is enough to deter you from going out there and shop like there’s no tomorrow.

Also, one thing to remember, splurging helps the economy but will be bad for an individual’s nest egg. Agreed?

Please, my readers out there. Do participate in the discussion. What do you reckon? Should we spend or should we save?

P.S. If you ask me whether am I spending or saving, I’d say I’m saving my money. I’m pretty much scared shitless thinking about what’s going to happen to me after I graduate.

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Disclaimer: This article is not a specific nor general advice on managing or investing your money. This article does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs.

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Can I still achieve what I plan to achieve by the time I’m 30?

Truly, the global financial crisis that we are facing right now is taking a toll on me.

My unit trust investment with Public Mutual is down around 35%, and my CFD trading activities is crippling. I’m still making money with CFD but my bank balance is advancing very very slowly. One day I’m up a few hundred dollars and the next day, I’m down a few hundred dollars. I made a loss last quarter but it’s getting better this quarter (I hope). Whatever it is, my trading performance is beating my unit trust investment performance but of course, I can’t be comparing them two. It’s like comparing apples and oranges.

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Should I pull out from the stock market now?

Many investors worldwide are experiencing losses right now. Myself included.

So, should we pull out from the market?

[Read more…]

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