Gloomy economy
Monday, September 15, 2008
Die la die la...
Even the 4th largest US investment bank, Wall Streets giant, Lehman Brothers, has filed for bankruptcy. It was Merrill Lynch and now it's Lehman. News has it that insurance giant AIG is next as it was reported to have sought a massive emergency loan to head off its own crisis.
The New York Times reported that AIG was seeking a 40 billion-dollar bridge loan from the Federal Reserve in the face of a possible downgrade from credit ratings agencies that could spell its doom.
US markets are in such turmoil now which I think is getting a little bit out of hand. I know nuts about all these but seeing my RMs getting all worried about the market, I think it's pretty bad.
Actually went online to search a little information here and there. Saw this article about this old man
(who has super rich experience in the banking industry and quite a big shot - sorry I can't remember his name and I can't find that article now...arghhhh) saying that this is the worst crisis he has ever seen throughout his whole banking life and that the worst has yet to come.
ALAMAK!!!! Now I am talking about serious matter here. I think I can be 'POK' any minute given that the market continues to worsen by the day.
'DIO POK' these two words have never come across my mind as I was in a 'iron rice bowl' industry for the past six and a half donkey years. In fact, I was so used to not reading serious and important world's happenings and I can't pick up the habit of reading it now.... *paiseh face*.
(My previous job only required me to know the annual Minimum Sum increment with stupid changes along the way wat... so cannot blame me for not reading de... excuses excuses and more excuses I know)Now that I am in a completely new environment, reality really hits me hard. I heard my colleagues talking about serious matters like the current market situation and I am now super worried about my rice bowl le.
I think I can get laid off very very easily. It's as easy as killing an ant like that la. I can be asked to leave any minute any time. I think it's possible cos old people always say mah... banks are the most heartless organisation of all... their dictionary has no "COMPASSIONATE" de. And the fact that I have only been with them for 4 months, what's there to be compassionate la...
Very cham... now I cannot anyhow spend liao. No more scrapbooking materials and classes, no more continuation of AMORE, no more good food liao. Must scrap on anything that I can find at home and must eat kopitiam food liao... hehehe...
My friends, dun say I never warn you ar...
- Those who have a habit of savings of S$100 to S$200 per month, please up your savings a little bit la.
- Those who have the capability of savings more, please do so hor.
- Those who thinks insurance is also a part of savings... you see la... even AIG is facing problem and falling apart... how to trust insurance??? Put $$$ underneath pillow better.
- Those who likes to spend on unncessary wants (like me), please refrain the urge of spending unwisely le. I already did it by staying in a less expensive hotel (without breakfast somemore) in phuket.... wahahaha
Anyway, despite having said all of the above, I have to tell you all truthfully that I have never regretted quitting CPF Board and joining my current bank. I value the experience gain in every aspect and I find things more interesting than ever. I have met people from different walks of life (most good, some bad) and I truly enjoy my current colleagues' companionship. Serious serious.... no butt licking de...
BUT that doesn't mean my ex-colleagues no good wor... BERY GOOD also... wahahaha... you people know it de la. Anyway hor, if I kenna "POK" hor, can I be 'bad horse' and return to CPF???? wahahahaha... Nah... joking only... I don't want.