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Wednesday, January 23, 2008
US in cRiSiS?
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all started with their sub-prime woes (housing & mortgage) which bring down many financial institution, include citi group, merill lynch, etc.. that lost billions of dollars, that lead to emergency cash bailout.
many predicted a recession, very soon but when?
oil price not stable, sub-prime woes, bad forecast on big firms.. all contribute to the stock market meltdown
investor reservation, bail-out as fast as they can
FED in a desperate move, cut rates again...
why cut rates?
Interest rate reductions are one strategy the Fed has used in previous crises to help the economy recover. A rate cut tends to spur the economy by making it cheaper for businesses to borrow money
hope ppl to borrow more, buy more stuffs to boost up the ailing US economy
consumer confidence is very critical...
but how long can it sustain?
People are up to their eyeballs in debt, and they're being asked to borrow more...
sMurFy at ... [ 9:43 AM ]

Ah Kok aka PicaKok aka Pica aka ah mun tou
A small pathetic overwork & underpaid IT fella in Axxxxxx
Currently XX yr old in this world (unable to reveal, confidential lar)
Plays badminton & sharpen my photography skills over the weekend...
Loves $$$
Loves bread and instant noodles...but BREAD is the best, pure & YUMMY
Hates idiots
Hates hypocrites