Tuesday, July 15, 2008

Recession is Coming


I received an email this morning...
"Recession is coming ... 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 which is how long the 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."

 



Im not panic, but, afraid.... i've heard about this earlier... But, what to do?

Me & hubby just bought our condo early this year :-( 

So, you all... have any idea on what should I do? Should I sell the condo? Uwaaa..... I dont want to!!!!!! Me & hubby really like the condo a lot! Some more, if we sell it now, got penalty to pay to the banker laaa..... Im really blank! Afraid... Want to take the gomen loan, havent confirmed yet... chit! Am I going to be affected if this recession really coming?

Blank! blank! blank!

4 orang pot pet on "Recession is Coming"

mast on July 16, 2008 at 1:33 AM said...

sometimes, just trust your own guts.. houses are assets not like cars which are liabilities. don't rush selling something that might be valueable in the future. stick to no credit card debts.. try to save each month.. around 10-30% from your income. insyaAllah weng.. spend wisely.. jangan terlampau boros atau terlampau kedekut.. bersederhana..

amisah said...

thanks puan mastur for your advise...
aku pun pikir macam tuh...
luckily Im not a "gores & menang" fan.. if not, debt here & there la pulak....
cukuplah dgn hutang ptptn yang membebankan tuh.... lalallallala....

doNGan on July 23, 2008 at 4:50 PM said...

weng...my advice...KEEP that condo of yours..dun even think of selling it..

itu asset yg korang ade..so..try to keep it....no matter what other people say to you... :)

amisah said...

thanks my friend for your advise!

Berapa hb?

Tik tok tik tok....

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