Received an email today, true or not, u decide?
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.
Comments: Only 1 loan already 5354, where have extra cash.
2. Pay off as much of personal loans, private loans, as debt collection will be hastened.
Comments: No money, how to pay.
3. Sell any stocks you can even at lower prices.
Comments: Sell now, paper lost 40k.
4. Take money off from Trust Funds.
Comments: No unit trust, what to take?
5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
Comments: Very prudent already.
6. Don't invest in new capital.
Comments: No money how to invest.
7. If you are selling homes/ properties/ cars , do it now, when you can get good prices, they are going to fall.
Comments: Only 1 house currently staying and 1 car.
8. Don't invest in new business proposals.
Comments: No money no talk.
9. Cancel holiday plans using credit cards.
Comments: Booked already can cancel meh?
10. Don't change jobs, as companies will retrench based on 'last in first out'.
Comments: Too old to change job.
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. USeconomy falls, the rest will crumble. Indiaand 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.