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zinglicious
23-09-2011, 01:06 AM
Banks in Europe is being French Fried with buffet dishes from Greece - Ameletita, Italian - Ziti shell pasta, France - French toast while banks in USA is being Pan Fried with Moody downgrading major banks BofA, Citibank and Wells Fargo. http://finance.yahoo.com/blogs/daily-ticker/apocalypse-now-markets-tumble-europe-approaches-tipping-point-145140909.html :eek: http://www.bloomberg.com/news/2011-09-22/asia-stocks-commodities-drop-on-fed-comments-bank-downgrades-won-sinks.html :eek:
Wondering if our local banks especially Malaysia would be cooking any dishes? :confused:

Henry T
23-09-2011, 05:13 PM
Please go spend all your money while it is still worth the paper it is printed on.

Go buy that fancy sports car or luxury home you have always dreamed about.

:p

fonzie
23-09-2011, 05:40 PM
Please go spend all your money while it is still worth the paper it is printed on.

Go buy that fancy sports car or luxury home you have always dreamed about.

:p

...so how do I put food on the table for me and my family...? We eat what everyday..???

Cheers!

zinglicious
23-09-2011, 09:56 PM
In Asia, there are oredi bank runs in Korea. One of the bank head jumped and committed suicide. :eek: http://www.nytimes.com/2011/09/24/world/asia/south-korean-bank-chief-apparently-kills-himself-police-say.html
Back in the 80's we have the similar bank run where it largely involve the finance deposits yaking companies like KSM or Multi Purpose which was the investment arm of MCA. :p

Raikonen
23-09-2011, 10:03 PM
In Asia, there are oredi bank runs in Korea. One of the bank head jumped and committed suicide. :eek: http://www.nytimes.com/2011/09/24/world/asia/south-korean-bank-chief-apparently-kills-himself-police-say.html


This one is a corruption case, not credit issues. Should have jumped long ago. good riddance

zinglicious
23-09-2011, 10:19 PM
Actually there were several banks on the run cases in South Korea in addition to this as they were trying to cover it up with corruption practice.
It was one of seven savings banks suspended on Sunday because of insufficient capital. Korea has suspended 16 of the country’s 105 savings banks, mainly because of their heavy losses in property developments. http://www.ft.com/intl/cms/s/0/ba91d2a4-e5bf-11e0-8e99-00144feabdc0.html#axzz1YmJAKydp

CS Chua
24-09-2011, 06:53 PM
Actually there were several banks on the run cases in South Korea in addition to this as they were trying to cover it up with corruption practice.
It was one of seven savings banks suspended on Sunday because of insufficient capital. Korea has suspended 16 of the country’s 105 savings banks, mainly because of their heavy losses in property developments. http://www.ft.com/intl/cms/s/0/ba91d2a4-e5bf-11e0-8e99-00144feabdc0.html#axzz1YmJAKydp
Did someone say "heavy losses in property development?" Signs of things to come in Boleh land? :eek: :eek: :eek:

zinglicious
25-09-2011, 01:33 AM
IMHO, there is no sign of property developers or bamkers having problems as it was reported buyers are snapping up at the new projects launches at condo or office spaces - as yet. :confused:

But it is evident that just last week major bankers are tightening the housing loans while two of my overseas buyers just forfeited thier 3% to 10% deposits respectively for the high end condo due to uncertainties in the stock and financial market news though they are still financially secure to pay them in under "cash" purchases. :(

So would be interested to find out what is actually brewing among the bankers and developers in Malaysia where we seems to have crisis worldwide from EU to USA. :confused:

waga
25-09-2011, 10:29 AM
World safest banks in asia 2011......top 3 are singapore banks..............

malaysian banks are not in the top 10 list for asia ....wonder why...


http://www.gfmag.com/tools/best-banks/11334-worlds-safest-banks-in-asia-2011.html#axzz1YvUieh21

kuma
25-09-2011, 11:22 AM
So would be interested to find out what is actually brewing among the bankers and developers in Malaysia where we seems to have crisis worldwide from EU to USA. :confused:

I have always wondered....how we "will not be affected" in any big way by a crisis in Europe and US. :eek:

Our exports are dependent on those markets and though China and India are major importers too...but much of what they buy from us is not so much for their local consumption, with the exception of probably palm oil, but we scr#@#d that too :rolleyes:

Whichever way we will go...we will know soon enough. Though this downturn is expected to be protracted over the year ahead...strong indicators of what's to come will appear soon, some say as early as next month :eek: ....and that by 2013, we will be telling our kids about the wonderful life we had back in the '90's and the turn of this century.....AND sorry kids, we f@#k@d up this world for you.

Like I have mentioned before, you should [just as your parents did]...secure your [and kids] future by buying Gold :D With the present correction, this is a good time....wish I had more of that....

.....paper 'that isn't worth the paper it's printed on' :D

[That quote is from the famous Trend Forecaster, Gerald Celente...who also keeps mentioning something else....

"When the people lose everything....THEY LOSE IT":eek: Scary isn't it?

<iframe width="560" height="315" src="http://www.youtube.com/embed/RZTZ0hNyt60?rel=0" frameborder="0" allowfullscreen></iframe>

View Part 2/3 Here (http://goo.gl/ZAkSV)
View Part 3/3 Here (http://youtu.be/sehTFw3Q2m8)

Rhiga
25-09-2011, 03:22 PM
World safest banks in asia 2011......top 3 are singapore banks..............

malaysian banks are not in the top 10 list for asia ....wonder why...


http://www.gfmag.com/tools/best-banks/11334-worlds-safest-banks-in-asia-2011.html#axzz1YvUieh21

Safest ! ... in another word means conservative, take lesser risks albeit calculated risks. I won’t invest in share of these companies…

Fyi, just a few days ago, the huge trading losses of UBS caused by a rogue trader which subsequently triggered the resignation of the CEO of UBS bank. The resignation was the result of lobbying/pressure from the Singapore government/sovereignty fund which is the largest share holder in UBS.

In a country, where more than 80% of population stay in the property built by government (where there is ZERO risk of collateral losses), many banks can be as safe as them.

Read and dig the devil underneath the details of every number...

Cheers

zinglicious
25-09-2011, 04:25 PM
So which are the banks in Malaysia over expose in properties and have signs of cracks? If I am not mistaken, those years back, monies deposits in banks are guaranteed in full amount. But Bank Negara have changed the standard rulings recently, right? :confused:

CS Chua
25-09-2011, 05:30 PM
IMHO, there is no sign of property developers or bamkers having problems as it was reported buyers are snapping up at the new projects launches at condo or office spaces - as yet. :confused:
This is the surest sign that something is not right. When people buy at crazy price, it is bad. It is not sustainable. When the bubble bursts, the bank will have to take a huge hair cut.

Henry T
25-09-2011, 07:23 PM
So which are the banks in Malaysia over expose in properties and have signs of cracks? If I am not mistaken, those years back, monies deposits in banks are guaranteed in full amount. But Bank Negara have changed the standard rulings recently, right? :confused:

They will guarantee you 60k per bank account. So we are supposed to split up our deposits into many accounts and with as many banks as possible? Don't put your eggs in one basket.

For most of us the 60k guarantee is more than enough. The Gomen decided on this amount after conducting a survey which revealed that, on the average, people have only 30k in their bank.

So, Wawasan 2020 is but a distant dream.

:D

zinglicious
25-09-2011, 09:07 PM
In USA, the FDIC guaranteed USD100K per bank account. Yes, it is always advisable to have separate accounts in different banks either here or in Malaysia. ;)

waga
25-09-2011, 09:49 PM
They will guarantee you 60k per bank account. So we are supposed to split up our deposits into many accounts and with as many banks as possible? Don't put your eggs in one basket.

For most of us the 60k guarantee is more than enough. The Gomen decided on this amount after conducting a survey which revealed that, on the average, people have only 30k in their bank.

So, Wawasan 2020 is but a distant dream.

:D

Guaranteed by PIDM....up to RM250K.................they hv upgrade the figures since..........not sure when from RM60K

http://www.pidm.gov.my/About-Deposit-Insurance/Coverage.aspx

Henry T
25-09-2011, 10:04 PM
Guaranteed by PIDM....up to RM250K.................they hv upgrade the figures since..........not sure when from RM60K

http://www.pidm.gov.my/About-Deposit-Insurance/Coverage.aspx


Cool. Quarter million is more like it.

Thanks for the update.

:)

Rhiga
25-09-2011, 11:47 PM
Yup, I think this is the reason why rm200-300k is chosen as the minimum sum of cash+investment in local & foreign banks operate in Malaysia for eligibility to the premier/priority banking service. For exp, OCBC asks for rm300k and CIMB needs rm200k…

Having said that, the so-called premier/priority banking is nothing to shout..don't expect to get good tips/opportunities in investment. The only tangible advantage is the reserve parking lots in front of the bank to ease the hassle to look for parking bay in Taipan..

And maybe, you can have a god piss stop and response to your nature call in a clean and well-decorated lavatory which is not available in other banking services..

zinglicious
26-09-2011, 12:05 AM
Got free coffee or tea served by beauties ,too. :D

kuma
27-09-2011, 04:53 PM
On BBC y'day..Trader Spooks Interviewer

Quote:
"BBC interviewer is visibly shaken when market trader Alessio Rastani predicts that the "Market is Toast." Apparently there is nothing Euro governments can do."

<iframe width="560" height="315" src="http://www.youtube.com/embed/aC19fEqR5bA?rel=0" frameborder="0" allowfullscreen></iframe>

p/s
I think there is profoundly good [though scary] advise from Alessio there...and smart people should take advantage of it.

BTW....the 5 readers who followed through on my earlier Post and watch all the episodes of the Gerald Celente interview on Yahoo Finance....if you like, just PM me your email and I will send you more...rather that post here :)

zinglicious
27-09-2011, 05:43 PM
The good news is the world markets from KLSE to Nikkei, Hang Seng to Jakarta goes up today after Dow Jones is opmistic about Eurozone when it spike up the index by huge margin.

zinglicious
27-09-2011, 09:18 PM
Whatever happened in Europe, we dont expect the contagion affect us as our financial system is very sound according to the Maybank CEO Datuk Seri Abdul Wahid Omar which is the largest bank in Malaysia. This is a very nice news for us who have monies in the banks, right? :confused:
http://www.bernama.com/bernama/v5/newsbusiness.php?id=615973

kuma
27-09-2011, 10:17 PM
Whatever happened in Europe, we dont expect the contagion affect us as our financial system is very sound according to the Maybank CEO Datuk Seri Abdul Wahid Omar which is the largest bank in Malaysia. This is a very nice news for us who have monies in the banks, right? :confused:
http://www.bernama.com/bernama/v5/newsbusiness.php?id=615973

He's right! :rolleyes:

What else did you expect him to say? ;)

I hope no one here expected him to say otherwise...DO YOU?

Najib seen in poll gamble as economy weakens...Read More (http://www.themalaysianinsider.com/malaysia/article/najib-seen-in-poll-gamble-as-economy-weakens/)

Quote:
"Malaysian Prime Minister Datuk Seri Najib Razak will likely press ahead with snap polls by early 2012, banking on government handouts and moderating inflation to soothe worries about the economy but a possible global recession could jeopardise his chances."

zinglicious
27-09-2011, 10:24 PM
As for affirmation and the duty entrusted to him by the shareholders and deposits made to Maybank as a customer, I expect him to say this as an institutional corporate leader ;)
"I do solemnly and sincerely and truly declare and affirm that the public statements I shall give shall be the truth, the whole truth and nothing but the truth." :cool:
Otherwise, he would be indirectly responsible for anybody who jump from Menara Maybank if they loses substantial monies deposits at the bank should the bank goes on the run. :eek:

USJ27Resident
28-09-2011, 01:18 AM
On BBC y'day..Trader Spooks Interviewer

Quote:
"BBC interviewer is visibly shaken when market trader Alessio Rastani predicts that the "Market is Toast." Apparently there is nothing Euro governments can do."

<iframe width="560" height="315" src="http://www.youtube.com/embed/aC19fEqR5bA?rel=0" frameborder="0" allowfullscreen></iframe>

:)

Boss - at the end of that interview - he said that millions of people are gonna lose millions from their savings....

My question: Where/How is this gonna happen? Our savings are in the banks... now if the banks are NOT safe... then where the <tweet!> do we keep our hard earned money???

And if our money is not safe... what the heck do we get to keep as hedge... I don't wanna wake up tomorrow morning - and find out that my RM note suddenly becomes a Rupiah clone or a Vietnamese Dong clone... with all the zeros in it....

USJ27Resident
28-09-2011, 01:19 AM
On BBC y'day..Trader Spooks Interviewer

Quote:
"BBC interviewer is visibly shaken when market trader Alessio Rastani predicts that the "Market is Toast." Apparently there is nothing Euro governments can do."

<iframe width="560" height="315" src="http://www.youtube.com/embed/aC19fEqR5bA?rel=0" frameborder="0" allowfullscreen></iframe>

:)

Boss - at the end of that interview - he said that millions of people are gonna lose millions from their savings....

My question: When/How is this gonna happen? Our savings are in the banks... now if the banks are NOT safe... then where the [bleep!] do we keep our hard earned money???

And if our money is not safe... what the heck do we get to keep as hedge... I don't wanna wake up tomorrow morning - and find out that my RM note suddenly becomes a Rupiah clone or a Vietnamese Dong clone... with all the zeros in it....

kuma
28-09-2011, 01:20 AM
:) Shares soar on hopes for a eurozone rescue plan :)

Quote:
"Global shares have risen strongly on growing hopes that eurozone leaders and the International Monetary Fund (IMF) will agree a comprehensive package to solve the eurozone debt crisis."

Now ain't that Great News ;)

And Guess What?....

Which are the leading stocks?...Banking Stocks :D

Read More BBC (http://www.bbc.co.uk/news/business-15073218)

kuma
28-09-2011, 01:54 AM
Boss - at the end of that interview - he said that millions of people are gonna lose millions from their savings....

My question: When/How is this gonna happen? Our savings are in the banks... now if the banks are NOT safe... then where the [bleep!] do we keep our hard earned money???

And if our money is not safe... what the heck do we get to keep as hedge... I don't wanna wake up tomorrow morning - and find out that my RM note suddenly becomes a Rupiah clone or a Vietnamese Dong clone... with all the zeros in it....

First, let me update you on the trader on BBC - Alessio Rastani. That video and much of what he said has gone viral in a big way, so much so that some are saying he's a fraudster, or even possibly all this was an elaborate hoax by the YES MAN team.... Read More if you want to - HERE (http://thedailyedge.thejournal.ie/is-alessio-rastani-actually-one-of-the-yes-men-update-they-say-hes-not-237950-Sep2011/?voted=1)

HOWEVER, Forbes.com has come out and said that HE ISN'T...
'Trader Or Prankster? We Called Alessio Rastani And Asked'...Read FORBES (http://www.forbes.com/sites/emilylambert/2011/09/27/trader-or-prankster-we-called-alessio-rastani-and-asked/)

What most people are commenting on the various Blogs and Forums is that he's saying what many already know and believe may happen [but hope and pray will not]....its just that he said it on Main Stream TV, thats all.

I'm sorry, I can't answer your question as I'm no financial expert...but many I know are hedging their surplus funds in Gold and Silver. They say, its the 1 true currency that has always been 'legal' since Ancient Times :D

And when you dig it out from under your Chicku Tree...its still worth its weight in Gold :)

[BTW, why Chicku Tree?....lots of ants, esp. Kerenga to keep nosy blooks away ;) ]

ps
You asked: "When/How is this gonna happen?"...Everyone's just guessing based on the data the are seeing now...but they advise to keep an eye on October and Europe.

I actually shared this [below] here last month...

Someone sent me this....How are the markets going to be over the months?

<iframe width="560" height="315" src="http://www.youtube.com/embed/WADnriWzJes?rel=0" frameborder="0" allowfullscreen></iframe>

"You are looking at October at 0:55' onwards,moving on quite fast there on. 2012 might be at 1:12' and end with a bang at 1:26 :eek:
I'm not so sure....I think, he's just trying to scare the s@!t out of me, that's all.

zinglicious
28-09-2011, 02:33 AM
October has been historically a bad month for investment. What is the logical financial explanation over that? :confused:
Meanwhile, Dow is at over 300 plus point at this minute right now before October. Mana ada durian jatuh kepala? :confused:

kuma
28-09-2011, 03:21 AM
October has been historically a bad month for investment. What is the logical financial explanation over that? :confused:
Meanwhile, Dow is at over 300 plus point at this minute right now before October. Mana ada durian jatuh kepala? :confused:

"October has been historically a bad month for investment.".....Why Is That So?...always wondered Why All Previous Market Crashes Happen In October?

"What is the logical financial explanation over that?".....Beats Me :rolleyes:

"Dow is at over 300 plus point at this minute".....Yeeehah!...Should go up more...Buy! Buy! Buy!

Mana ada durian jatuh kepala?

Statement on BBC News

Quote:
The BBC has issued a statement regarding the interview with trader Alessio Rastani on the BBC News channel yesterday (Monday 26 September):

"We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax. He is an independent market trader and one of a range of voices we've had on air to talk about the recession."

BBC Press Office ..Read Full Statement (http://www.bbc.co.uk/pressoffice/pressreleases/stories/2011/09_september/27/statement.shtml)
[Kinda short statement, don't you think?] :o

SiangMalam
28-09-2011, 03:29 AM
It hasn't bottomed out yet, Kuma, not rock bottom yet! Wake me up when it does... oh I am sure Sagamihara wants to be woken up too.... :D

Meanwhile watch how Indonesia is twisting the tin market... and watch out CPO plays out over the next few days!

kuma
28-09-2011, 03:39 AM
It hasn't bottomed out yet, Kuma, not rock bottom yet! Wake me up when it does... oh I am sure Sagamihara wants to be woken up too.... :D


'Wake me up when it does...'....He He...no problem, you'll have to wait a while though, but that's OK...by then, you'll have enough of this [see below]:D


http://www.zerohedge.com/sites/default/files/images/user5/imageroot/gono/Zimbabwe_100_trillion_2009_Obverse.jpg

Notice how its Rock Solid? :D

p/s

You might want to note this.....

Rip Van Winkle Summary
"Rip fell asleep. For a really, really long time. Then he woke up. Everything, including himself, had changed."

Come to think of it....this sounds like a really good idea :D

zinglicious
28-09-2011, 04:17 AM
"October has been historically a bad month for investment.".....Why Is That So?...always wondered Why All Previous Market Crashes Happen In October?

"What is the logical financial explanation over that?".....Beats Me :rolleyes:

"Dow is at over 300 plus point at this minute".....Yeeehah!...Should go up more...Buy! Buy! Buy!

Mana ada durian jatuh kepala?

Statement on BBC News

Quote:
The BBC has issued a statement regarding the interview with trader Alessio Rastani on the BBC News channel yesterday (Monday 26 September):

"We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax. He is an independent market trader and one of a range of voices we've had on air to talk about the recession."

BBC Press Office ..Read Full Statement (http://www.bbc.co.uk/pressoffice/pressreleases/stories/2011/09_september/27/statement.shtml)
[Kinda short statement, don't you think?] :o

Now closing at just 146 plus only at 11190. Bought at 300 plus point at your recomendation instead of Alessio rastani , how ah? :D

Rhiga
28-09-2011, 12:21 PM
It hasn't bottomed out yet, Kuma, not rock bottom yet! Wake me up when it does... oh I am sure Sagamihara wants to be woken up too.... :D



Hahaha, thanks Bro..

I know I have to be a monk to withstand the temptation to buy when KLSE plunged on Mon & Tue and I succeeded.. :D

I still think my earlier target of 1200 points for shopping is realistic … But looking at the Greece crisis, I further refine the entry plan - only test the market a bit when it plunges to 1200 as I believe it can be worse than 1200.. :eek:


Ps. Did you guy read the news or watch the tv regarding the mass strike by Greek workers (most of them government employees). Gosh, those fellas really think the world owe them a living !! ( a very familiar phenomenon, right). The Greek government has to implement some serious cots-cutting measures to comply with conditions for rescues packages but those fellas still insist for good old life of yesterday !!!

kuma
28-09-2011, 01:39 PM
Now closing at just 146 plus only at 11190. Bought at 300 plus point at your recomendation instead of Alessio rastani , how ah? :D

I have posted here before.....'Never, ever never take advise from strangers and anonymous Forumers and Bloggers on matters regarding heath and wealth' :D


So about the Markets....

"Markets across the world ignored the mixed signals about the true scope of EU rescue measures, convinced that EU leaders have a "grand plan" up their sleeves"

Germany slams 'stupid' US...Oh, ooo :eek: Read More (http://www.telegraph.co.uk/finance/financialcrisis/8793010/Germany-slams-stupid-US-plans-to-boost-EU-rescue-fund.html)

fonzie
28-09-2011, 02:05 PM
One needs to do studies/research on Greece and its politics and economy. Two things comes to mind - it is famous for its shipping industry and tourism industry. Onassis and and the island of Santorini comes to mind. How come these are not improving?

On another sober note: Greece has a very large public sector. It's financial woes is mainly because of this fact. It has to pay pensions, bonuses etc. Where to get the money from? Think through folks, our country shares some same characteristics....

Therefore it is imperative Malaysians must be alert and passionate to spread and uphold honesty and integrity in political/economic leadership matters, for the future of our children and their children's futures......

Cheers!

USJ27Resident
28-09-2011, 03:46 PM
Therefore it is imperative Malaysians must be alert and passionate to spread and uphold honesty and integrity in political/economic leadership matters, for the future of our children and their children's futures......
Cheers!

Malaysians generally will worry for their kids... but ask me if the politicians are really concerned about their contituents and their kids... and you might just get to see me laugh before a heart attack! :rolleyes:

They will even sell their grandmothers (if they have to) to achieve their goals, first!

zinglicious
28-09-2011, 06:42 PM
Of course, the polticians are concerned about thier OWN children. How many of the kids are in SJK? They usually in Internationals schools or school in overseas.

kuma
29-09-2011, 01:19 AM
UPDATE
More warnings about Euro and Europe....

This one today from global head of securities services at Italy’s biggest lender UniCredit SpA.

He said....

Quote:
“The euro is beyond rescue”
"Europe faces a financial earthquake of a magnitude 10 from a Greek default"
“The only remaining question is how many more days..."

BUT, the good news is he said “This can still be averted. It primarily depends on the Germans..." :D
Bloomberg (http://www.bloomberg.com/news/2011-09-28/euro-is-beyond-rescue-unicredit-s-szalay-berzeviczy-says.html)

HOWEVER...

The Germans are trying to stop their Gomen...

"Germany's top judge has issued a blunt warning that no further fiscal powers may be surrendered to Europe without a new constitution and a popular referendum" :eek:
Telegraph (http://www.telegraph.co.uk/finance/financialcrisis/8790785/German-turmoil-over-EU-bail-outs-as-top-judge-calls-for-referendum.html)

zinglicious
29-09-2011, 04:03 AM
The Germans woudl be cooking Sauerkraut instead of sending Ziti Pasta. Even UK is keeping their Fish and Chips under wraps while French is toasted on his own though USA is sending the MCD burgers value meals to those ICU patients which is having congestive heart failure with massive financial bleedings.
So, can the sick patients be revived? Not and until they have a new heart transplant where they is no willing donor.

Rhiga
29-09-2011, 02:33 PM
UPDATE
HOWEVER...

The Germans are trying to stop their Gomen...

"Germany's top judge has issued a blunt warning that no further fiscal powers may be surrendered to Europe without a new constitution and a popular referendum" :eek:
Telegraph (http://www.telegraph.co.uk/finance/financialcrisis/8790785/German-turmoil-over-EU-bail-outs-as-top-judge-calls-for-referendum.html)


Let me illustrate the Euro zone this way…

There is a big family consists of 17 members and each of them has different bank account when doing their business..

One day, they decided why not combine all the accounts into one single account because with a bigger account, the business reputation is stronger and business will grow bigger..

While most members are hardworking, prudent businessmen but there a few are literally lazy. One of the laziest members with the name G has enjoyed the benefits of the single account – he has good salary and pension, short working hours and when money not enough, he will borrow as his credit rating is good because he is a member of the single account..

After 10 years, G had accumulated hell lot of debts and debtors started to get impatient of the constant defaults of payment and warned of further action. The 17 family members had a meeting last year and decided to pull fund to absorb 110 billion Euro of debt to ease the financial pressure from the debtor to this lazy G. G was warned to change his attitude to be more prudent, to implement cost-cutting measures to reduce the numbers of lazy servants and workers in his house, and to revamp the super-generous salary/pension for those workers.

G never change (not surprise, right ?… you can easily find similar attitude in bolehland also !!) Now, the debt problems has grown to a state that beyond control and the kind lady head of this family, still wanted to pour her country resources to help this lazy G ??

Do you think the Germans want to be the suckers indefinitely……. ????

Cheers

tohca
29-09-2011, 04:31 PM
Let me illustrate the Euro zone this way…

There is a big family consists of 17 members and each of them has different bank account when doing their business..

One day, they decided why not combine all the accounts into one single account because with a bigger account, the business reputation is stronger and business will grow bigger..

While most members are hardworking, prudent businessmen but there a few are literally lazy. One of the laziest members with the name G has enjoyed the benefits of the single account – he has good salary and pension, short working hours and when money not enough, he will borrow as his credit rating is good because he is a member of the single account..

After 10 years, G had accumulated hell lot of debts and debtors started to get impatient of the constant defaults of payment and warned of further action. The 17 family members had a meeting last year and decided to pull fund to absorb 110 billion Euro of debt to ease the financial pressure from the debtor to this lazy G. G was warned to change his attitude to be more prudent, to implement cost-cutting measures to reduce the numbers of lazy servants and workers in his house, and to revamp the super-generous salary/pension for those workers.

G never change (not surprise, right ?… you can easily find similar attitude in bolehland also !!) Now, the debt problems has grown to a state that beyond control and the kind lady head of this family, still wanted to pour her country resources to help this lazy G ??

Do you think the Germans want to be the suckers indefinitely……. ????

Cheers
+ten
Thanks for explaining it this way. Now for the first time I'm starting to see the light of what's happening in the EU.

kuma
29-09-2011, 05:31 PM
While most members are hardworking, prudent businessmen but there a few are literally lazy. One of the laziest members with the name G has enjoyed the benefits of the single account – he has good salary and pension, short working hours and when money not enough, he will borrow as his credit rating is good because he is a member of the single account..

G never change (not surprise, right ?… you can easily find similar attitude in bolehland also !!) Now, the debt problems has grown to a state that beyond control and the kind lady head of this family, still wanted to pour her country resources to help this lazy G ??

Do you think the Germans want to be the suckers indefinitely……. ????

Cheers

There's more to this sad story than just blaming it on the 'lazy' southerners :D ...Often when things go wrong...a scapegoat needs to be found...and for the people they always need to bear the brunt of deeds of the corrupt politicians :eek:

Yes the Greeks borrowed...but the crisis really revolves on 'how' they[and the others] did it...Google 'Cross Currency Swaps'

Here's an explanation of 'How Greece Went Bankrupt'

<iframe width="560" height="315" src="http://www.youtube.com/embed/HHMT9QHamo0?rel=0" frameborder="0" allowfullscreen></iframe>

Yes, its a bit complicated...here's another look at it.

Watch Here (http://goo.gl/gBt84)

Henry T
29-09-2011, 05:53 PM
The Swiss are now patting themselves on the back for not joining the EU.

Did you notice the strength of the Swiss Franc? The Rolex you've always desired has just gone up one notch in price. :D

SiangMalam
29-09-2011, 05:59 PM
One needs to do studies/research on Greece and its politics and economy. Two things comes to mind - it is famous for its shipping industry and tourism industry. Onassis and and the island of Santorini comes to mind. How come these are not improving?

On another sober note: Greece has a very large public sector. It's financial woes is mainly because of this fact. It has to pay pensions, bonuses etc. Where to get the money from? Think through folks, our country shares some same characteristics....

Therefore it is imperative Malaysians must be alert and passionate to spread and uphold honesty and integrity in political/economic leadership matters, for the future of our children and their children's futures......

Cheers!
The tourism industry is very much alive, bro! Island hopping during springtime 2012 all fully booked by last month.. it is the management of the fiscal / monetary policies which suxx big time... ehhh bring me my Moussaka and by Perinni...

zinglicious
29-09-2011, 08:55 PM
The Swiss are now patting themselves on the back for not joining the EU.

Did you notice the strength of the Swiss Franc? The Rolex you've always desired has just gone up one notch in price. :D

Even in War 2, they always keep the Swiss Cheese to themselves. :)

kuma
30-09-2011, 03:18 AM
So the Germans [politicians] approved more bailout :D
BBC (http://www.bbc.co.uk/news/world-europe-15107538)

Buy...Buy...BYE :rolleyes:

BTW,....here's why you must never make your financial decisions based on advised from crazed forumers ;) .....AND

Some Main Stream Media News.....like this one..Watch Below...[Notice the anchor's attempt to keep a straight face] :D

<iframe width="420" height="315" src="http://www.youtube.com/embed/aWyrjwXoIqA?rel=0" frameborder="0" allowfullscreen></iframe>

zinglicious
30-09-2011, 03:46 AM
I think it is market irrational behaviour that each day the financial markets are looking for direction at Greeks Lightning instead of fundamentals.
Apporved to bail out or not - if the weak characteristic of those who have abused the economy arent commited to change, it would fail again.
Anyway, it would be time to boogie in October as the German would be celebrating Oktobefest.

zinglicious
04-10-2011, 03:50 AM
"October has been historically a bad month for investment.".....Why Is That So?...always wondered Why All Previous Market Crashes Happen In October?

"What is the logical financial explanation over that?".....Beats Me :rolleyes:

"Dow is at over 300 plus point at this minute".....Yeeehah!...Should go up more...Buy! Buy! Buy!

Mana ada durian jatuh kepala?

Statement on BBC News

Quote:
The BBC has issued a statement regarding the interview with trader Alessio Rastani on the BBC News channel yesterday (Monday 26 September):

"We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax. He is an independent market trader and one of a range of voices we've had on air to talk about the recession."

BBC Press Office ..Read Full Statement (http://www.bbc.co.uk/pressoffice/pressreleases/stories/2011/09_september/27/statement.shtml)
[Kinda short statement, don't you think?] :o

First trading day of October 2011, the Bogeyman had Hang Seng hanged with more than 4% decline across the board. Meanwhile, Dow Jones is down about 200 points or 2%. Instead of Octoberfest, it turns into Octobermess. :eek:

Kissme
06-10-2011, 06:35 PM
From how I see it a recession is coming. The question is when and what are its signs.

Henry T
06-10-2011, 08:12 PM
Manufactured goods typically require three to four months lead time. Malaysian exporters are still shipping old orders.

Orders received now are much reduced. So in three to four months time we'll feel the pinch.

There is a sell down of the Ringgit by investors and those who came in with hot money. They are getting the hell out. :cool:

kuma
07-10-2011, 12:00 AM
Manufactured goods typically require three to four months lead time. Malaysian exporters are still shipping old orders.

Orders received now are much reduced. So in three to four months time we'll feel the pinch.

There is a sell down of the Ringgit by investors and those who came in with hot money. They are getting the hell out. :cool:

You think the Budget 2012 will address this?

Henry T
07-10-2011, 09:48 AM
You think the Budget 2012 will address this?

A more business/investment friendly Budget would be a good start. Just sit back and collect tax from an improved business environment. The Govt should sell down their holdings in GLCs and not acquire more Public Company and shares.

Would it help if the Govt is just plugging one or two holes when there are a thousand? The years of mismanagement and budget deficit has taken its toll. We are all paying the price now.

Btw, the annual Budget is all hype until it can reduce debts & expenses and increase efficiency/income. You manage your household the same way, but they want to make it look complicated like Rocket Science.

:)

P/S

The Yen isn't going to come down anytime soon. IMO, the Japanese Govt has accepted the fate of their exports. But they need plenty of imported supplies for rebuilding after the recent Tsunami. The high Yen will be a big help in this case.

zinglicious
07-10-2011, 02:57 PM
I doubt the present govt is by the people, for the people. The croynism is too steep in under the system to provide a meaningful budget that would benefit Rakyat first and foremost without hidden agenda.

From education program to sekolahship allocation, Highway to Tollways, budgeting to spending without fears and favours seems to be lop sided and not meaningful or helpful to the rakyat.

A real budget should start with accountability to monies collected from taxes and revenue. The surplus of it , if any, should be used for actual development to retain talent particulary the youth to build the foundation for the future. If not, there should be a budget to find out why and where the actual surplus went into disappearance act either through poor management or corruption of any kind.

kuma
07-10-2011, 04:57 PM
IMF advisor says we face a Worldwide Banking Meltdown in 2-3 weeks :eek:
On BBC Newsnight 5th Oct 2011

<iframe width="560" height="315" src="http://www.youtube.com/embed/6UGDTtqklSo?rel=0" frameborder="0" allowfullscreen></iframe>

Quoting IMF advisor Robert Shapiro:
"If they cannot address the financial crisis in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system."

Warming Us Up or IMF Fear Mongering? ;)

fonzie
07-10-2011, 06:50 PM
I think the Euro authorities are going to pump money to the Euro banks. This is in anticipation of an "orderly" Greek default.....

So there would be some volatility in markets. This is being factored in by the pros in the hedge funds business...

Cheers!

kuma
07-10-2011, 06:54 PM
I think the Euro authorities are going to pump money to the Euro banks. This is in anticipation of an "orderly" Greek default.....

So there would be some volatility in markets. This is being factored in by the pros in the hedge funds business...

Cheers!

Yep....UK-QE started:)
Quote:" £75billion of newly created money into the economy"

World facing worst financial crisis in history, Bank of England Governor says....Read (http://www.telegraph.co.uk/finance/financialcrisis/8812260/World-facing-worst-financial-crisis-in-history-Bank-of-England-Governor-says.html)

Wonder if it will work again :eek:

fonzie
07-10-2011, 08:31 PM
UK is different...it is not a Euro member...

I am talking about the Euro bloc with its EFSF (European Financial Stability Fund). Essentially it is creating a unified Euro central bank - which many pundits were suggesting it all along to resolve the crisis. Europe already has a political union. Now it needs a financial union....

We do live in interesting times...!
Cheers!

fonzie
08-10-2011, 11:10 AM
To add some background to my post, here's a link for your info/preparations before the shit hits the fan....

http://www.theedgemalaysia.com/first/193597-europes-high-risk-gamble.html

I have posted before...this crisis is about providing (strong/responsible) political and financial leadership from those in govt or high finance places...

Looks like a "you help me and I help you" thingy between politicians and financial bigwigs. Expect this plausible/probable/logical game plan being played out in the coming future, leading to the US Presidential elections. You have to google when similar leadership changing elections are scheduled for the the Eurozone countries to get a better perspective.

You have being given the heads up! Just don't be afraid...be innovative like Steve Jobs...;)-
Cheers!

kuma
08-10-2011, 01:53 PM
Dr M warns of long financial crisis

Quote:
“The great financial crisis will be with us for a long time" :eek:
....and will stunt M'sia's export driven economy in the near future :eek:

Read More on MI (http://www.themalaysianinsider.com/malaysia/article/dr-m-warns-of-long-financial-crisis/)

Also read Dr.M on QEII (http://www.themalaysianinsider.com/sideviews/article/qe-ii-dr-mahathir-mohamad/)

Henry T
08-10-2011, 07:32 PM
Dr M warns of long financial crisis

Quote:
“The great financial crisis will be with us for a long time" :eek:
....and will stunt M'sia's export driven economy in the near future :eek:

Read More on MI (http://www.themalaysianinsider.com/malaysia/article/dr-m-warns-of-long-financial-crisis/)

Also read Dr.M on QEII (http://www.themalaysianinsider.com/sideviews/article/qe-ii-dr-mahathir-mohamad/)


TDM wrote that the Europeans, even though they are pokai, still think they are rich. That may true.

But Malaysia is poor (relatively) but we act like we are a rich country the way we hand out money and build expensive 'white elephants.' LOL.

On his allegation of the US and UK printing money, come on, like we don't do it ourselves. It's all fiat money now backed only by a promise of the face value and not by gold. As long as the country is credible and the Govt trustworthy.

Very obviously, with all this fiat money there will have to be QE aka quantitive easing. Which fool would flood the world with their printed paper money overnight? Hmm....there is one, Zimbabwe.

Henry T
09-10-2011, 10:31 AM
Italy and Spain just got downgraded. The contagion is spreading.

Seems our Gomen is still in "syiok sendiri" mode patting themselves on the back for a "wonderful" Budget 2012. Are they making preparations to tackle this "Financial Armageddon?" Jobs and businesses are going to be negatively impacted.

When there are losers, there are also winners. People with money and guts ( ya, you need both) can benefit from the current financial upheaval. Game or not? It's your call.

;)

Rhiga
09-10-2011, 01:55 PM
Italy and Spain just got downgraded. The contagion is spreading.

Seems our Gomen is still in "syiok sendiri" mode patting themselves on the back for a "wonderful" Budget 2012. Are they making preparations to tackle this "Financial Armageddon?" Jobs and businesses are going to be negatively impacted.

When there are losers, there are also winners. People with money and guts ( ya, you need both) can benefit from the current financial upheaval. Game or not? It's your call.

;)

I have been waiting and waiting more than a decade (after the 1997 crisis).. I doubt current "financial upheaval" is the one comparable to 1997...

Hope worse will come...

Cheers

kuma
09-10-2011, 06:13 PM
I have been waiting and waiting more than a decade (after the 1997 crisis).. I doubt current "financial upheaval" is the one comparable to 1997...

Hope worse will come...

Cheers

You wrote: "I doubt current "financial upheaval" is the one comparable to 1997..."

If you are referring to the Nation....it could be worse but will not be felt like in '97 which literally came with one or two overnight killshots :eek:....this time is going to be a 'slow kill'....just like cancer, it may eat into us without us feeling much pain till its too late :(

On the other hand if you are referring to individuals, then its all about their 'timing' in their career or business. As for me...'87 had little impact as I was still young and focused on building my career....'97 was a shocker and I had a 'Deep Impact' event :eek: ....

This time around...it don't matter either way :D ....I've known about it for over 2 years and so do millions of others....many are prepared, which brings around the question?....

Can one make a killing out of another man's misfortune this time?...I doubt it.

This time it's going to be different....This time the 'slow kill' will deprive those looking for quick gains....This time, is the very 1st time in History that millions are watching this 'fall' as it unfolds 'live' on their iPhones.:D

Rhiga
09-10-2011, 07:11 PM
Knowing the bad news is one thing, what can be done is another thing…

What can millions of retirees or to-be retirees do ?

Money is shrinking due to inflation and low interest, property and shares are still high (my opinion)… so what and how to prepare ??

Of course, the standard answer that everyone know and will do is wait and wait until the right “timing”.. and this is exactly the unknown that puzzle me ??

Please don’t tell me to buy gold !! :D

Cheers

Henry T
09-10-2011, 10:41 PM
I have been waiting and waiting more than a decade (after the 1997 crisis).. I doubt current "financial upheaval" is the one comparable to 1997...

Hope worse will come...

Cheers

Actually 2008 was a good time (to benefit from another man's misfortune, as Kuma says) due to the US Subprime Loan Crisis. The blue chips stocks in KLSE dropped like a stone. Not as low as in 97/98 but they did doubled or tripled within a year or two. I am talking with the benefit of hindsight, of course.

We are yet to see how bad this round is going to be, but personally I was hard hit in 97/98. When I was filling up my tax return I can see that my income dropped by half. Those were the days before pay-as-you-earn. So I ended up owing the taxman plenty which I did settle.

I guess I can't afford not to settle. :D

kuma
28-10-2011, 03:24 PM
Those who have been following this Thread may find this interesting... :)

THE NEW HEIR TO EU!
http://l3.yimg.com/bt/api/res/1.2/uIOHtxr1buPBiu2XTcpZEg--/YXBwaWQ9eW5ld3M7Zmk9aW5zZXQ7aD0zMDI7cT04NTt3PTUxMg--/http://media.zenfs.com/en_us/News/ap_webfeeds/89fea2570dd44f16fa0e6a706700d97b.jpg

Read More Here (http://www.ft.com/intl/cms/s/0/7505d210-00ba-11e1-8590-00144feabdc0.html#axzz1c3g8pnJs)

zinglicious
28-10-2011, 04:24 PM
But Dow Jones shot pass through 12,000 points to end the October month. :eek:
I was betting on 9102 point. Now sudah lost millionhair of respek :o

Mat Bruce
28-10-2011, 05:22 PM
Knowing the bad news is one thing, what can be done is another thing…

What can millions of retirees or to-be retirees do ?

Money is shrinking due to inflation and low interest, property and shares are still high (my opinion)… so what and how to prepare ??

Of course, the standard answer that everyone know and will do is wait and wait until the right “timing”.. and this is exactly the unknown that puzzle me ??

Please don’t tell me to buy gold !! :D

Cheers

Properties...

kuma
28-10-2011, 07:27 PM
But Dow Jones shot pass through 12,000 points to end the October month. :eek:
I was betting on 9102 point. Now sudah lost millionhair of respek :o

Post EU Summit Rally Over
Quote:
"A few negative headlines this morning seem to sparked a selloff after yesterday's optimism.
European markets are flagging and U.S. futures have turned negative.
Indices in Europe just turned negative after a rally this morning. The DAX is now down 0.01%, the FTSE 100 is down 0.16% and the CAC 40 is down 0.18%."

More... (http://www.businessinsider.com/markets-are-flagging-as-everyone-remembers-that-europe-is-still-a-problem-2011-10)

Lets see how the rest of the day goes :eek:

Rhiga
28-10-2011, 10:09 PM
Properties...

Sure, it is the timing that puzzle...

zinglicious
29-10-2011, 04:36 AM
Konfem. DJ rises again with 20 pointers. My target way off by thousand of margin. :o
Luckily only "monies" lost is in the virtual world of investing. ;)