Bernard Madoff- Biggest Fraud in HistoryAnytime in this period, as we turn on BBC, CNN or even Blomberg, there is no surprise that, bankruptcy of Bank, individual or even house auction, financial con case in front of our screen. Subsequncy with the crisis and pulling out of major investors, Major con case like Bernard Mardoff has revealed day by day...The daily issue of market changing forum is more focusing on how to deal with the continuing crisis, rather then whats next to merge ahead.
The crisis win has yet to blow in asian countries, further more like us in Sabah. I would say we are still very much in honey moon stage, as the financial crisis somewhat is very much hit on the European, America as well as England. However, untouched territory like ours is in doubtful situation, no one know what is going to happen next, i met a fairly experience financial advisors lately, and asked about is his expectation for 2009... the only answer he can gave me is " It all depends" In conclusion, 2009 will be a pianful year, global recession, financial stresses, losses and of course eventually bankruptcy.
Upon my study and research, there is only light at the end of tunnel when:-
1) US: wether the stimulus packages works on the Government economy, injecting liquidity and stop the vicious cycle by boosting the economy.
2) EUROZONE : The economy crisis leaves the Eurozone shaken, with the single currency system, with the single currency system,Eurozone members trying to pull themselves out of the recession,most affected countries like, Greece, Italy,Belgium, Ireland, Portugal and Spain.
3) UK : The ability of UK to recover from the current depressed state.
4)Asia: We have yet to feel the real depressed state, however, since we are very much depending on the export economy, if the demand from europe is slumping, then this model will flop eventually. I.E : China's growth has cut to below 8% after 5 years of average gain of 16.5%; as usual Japan will deteriorate further from their current depression.
Stocks market, bonds, commodity are now at very stagnant level.. Eventually, the rich will become richer and the poor will become poorer.. further with the collapse of all currencies, inflation will happen and all goods prices go fly high...
For now, we should look into spending good money either for holiday, food or medical... Nothing is safe even in bank.. ( Even CITIBANK is at danger stage now), invest only when you are very sure. "
In the old days,man who saved money was a miser;nowadays he is a wonders....
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