Are we heading for the worst?
So many things are happening around us and before one problem is solved another one just coming up from no where. The world faced so many problems this year starting with the high energy price and shortage of food and later some financial problems in the US due to the sub prime mortgage problem that led to some economic slump.
Today we faced yet another major problem in the financial market and this could let to another big recession. Lehman Brothers and Meryll Lynch are some of the giant financial institution in the world and they just went down due to bankruptcy. Another giant the AIG is seeking some rescue package from the US government to prevent it from collapsing. The impact is yet to be felt in other countries especially Asia. For the last 2 days, the stock market is Asia dropped tremendously as fears in the market spread throughout the world.
Guess that what have been predicted before is true. Now that the Beijing Olympic is over and people were already saying that many more economic disaster will come and it did and it hit very hard. How could we recover from this and how long could this hard time last. What are the cause of all these. Nobody can really answer to those questions but we need to learn from this so that we can prepare for the worst in future. Who could have thought that the oil price could dip to below US100 a month ago and it is USD93 a barrel now. Hopefully it will stay low.
We just hope that government and policy makers will make good judgement and decision to overcome this problems. There are jobs being lost but a lot of mouth to feed and tons of bills to pay. So hold on to it…