Recession...

I think this next blog of mine would be the most serious of all. I am not sure whether I am that good to write about this, but I think we should express ourselves, right?

The current global economic credit crunch or in simple terms: recession, seems to be taking a toll in many countries. Singapore just officialy made a worlwide statement that they have just gone into recession. Thats sad. I mean, just think they are our neighbouring country and one the best in this region and they're the first to go in recession in our Asean region and in the world. Malaysian's Finance Minister keeps on saying Malaysia wont be affected by it at all. The whole world is suffering this problem except Malaysia. Sometimes I wonder whether my countrymen are just stupid or are really smart. Well, I just hope what they say is true. Or at least, even if it happens, it wont be that bad. The critics claim that this is the greatest single problem ever since the Great Depression of the 1930 and the 97' financial crisis. It will affect people's rice and pasta bowl around the world. I dont know. Mainly I think its because the worlds population has increased by ten folds from the last global problem. So whatever is there, its either not enough or just sufficeable.

When I think about it, I get so nervous and worried how my family's going to survive this whole event. What more those parents who have children studying overseas with them exchanging money and all. Share prices plunged and its getting worse bytheday. Food price went up, while food stocks are low with the global warming not helping very much.Everything seems to be at a total turmoil now. The only possible good thing that comes out from this is that the worlds petrol price has gone down to $78 a barrel from $136, last. This should help reduce some things. My friend who owns a furnishing shop(I think he might read this blog) seems very worried. Mainly because credit crunch would affect the purchase possibilities of his customers as most wouldnt pay by cash and credit my cost their(my friends shop) debts to go high. My mom who works for HSBC in the commercial banking sector just mentioned to me that HSBC Penang are slowly trying to reduce the loan giving to companies as they dont know how to economic stands now. And that if SME(small and medium entreprenuers) intends to take loan they would need to have high security to do the take up of the loan.

Plainly ridiculous I think. Its just impossible to have that now.

Anyways, there's a one month stall for loan lending starting halfway this month I suppose. I am not sure what to expect from this economic crisis. Is the world going to end? How are all the poor people going to survive? What about the middle class? Since people say when recession happens money has a lower value and it becomes worthless at some point. What then is going to happen to all this low income paid people? Its scary to note that recession is clouding in. All we can do is pray for the best. But I wonder what God thinks about this whole issue. Is it to say that worlds ending?Or is it to say man should stop being so greedy and just go back to the old times of lifestyle?



Son: You think theres recession?

Father: World is coming to an end.

Son: How much will we loose?

Father: What did the Quran say?

Son: World is coming to an end.