Time are bad. Loads and loads of bad news coming one after another. Stock markets plunging, companies downsizing, staff going on forced leave, staff given the white slip… the works of Adam Smith’s ‘invisible hand’? LOL! I am not sure man. Good news are hardly heard these days – other than MacDonald’s Mega Big Mac, which means u can buy a burger that you can consume at 2pm for lunch and skip dinner thereafter! Ah! Thats called “cost effective”! haha! Confidence has been all time low, from the economy to the food we put into our mouths. What is worse man? Having no food to eat or fearing what you eat will kill you? Hmmm.. something to think about huh!
When I first studied Economics, I loved the idea of “limited resources unlimited wants”. I think thats the basic idea of it. Of course, there are ideas and theories which are much deeper – but heck la! I am not gonna regurgitate all the garbage… coz I forgotten most of them! LOL! There’s oppurtunity costs involved in most situations. You sacrifice A for B. You can’t have the best of both worlds. But human are basically greedy – they can’t afford everything but they want everything. And its not like they really NEED everything anyway.
Today I got a copy of the Business Times. It revealed more bad news. I can’t really remember reading anything hopeful there. Perhaps I was shrouded with the negative news hovering all over the pages to see any silver lining.
I guess I can appreciate the economic slump. What goes up, will come down. Property prices were going up up up, everyone was expecting it to come down just that they don’t know when. When the sub-prime thingy broke out, everyone knows the worst is not over yet. There were warning signs all over the place, wasn’t there? Everyone was just waiting for the recession to come, is it not? But anyway, the fall of Lehman brought along a massive domino effect – toppling almost everything that linked to money.
I must say I am not in a great position to be commenting. Firstly, I know nuts about the world economy. Secondly, I am not working. Thirdly, I am too poor to dabble in money making instruments.Therefore, while I am able to comprehend human emotions involved, a third party is always a third party. Comments from me just wouldn’t do justice to people who are really involved in the situation.
Anyway through the whole episode, I learnt the basic importance of having a disciplined savings habit. You can earn little, but you still need to save a bit. In times like this, I think cash on hand can really save lives!
Guess in times like this, we should all look forward to spending more quality time at home in order to cut costs, watchin all the DVDs that we had no time to watch, rewatching some of the old classics, learn to whip some nice dishes, clean up our home, go start an exercise regime, do some volunteer work, etc etc etc… Lifes not that bad after all, right? LOL!!
*keeping my fingers crossed* But of course, staying home won’t help the economy recover. When we are feeling rich, we should really just go out and spend some money too!
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