My American friend just told me

[Kinanna]

my alter ego Kinana is just sore that his Bible Thumping friend got a thumper himself.Its common Knowledge the Bible belt in the USA got pounded.cheers to slave traders of old eh kinana??

And your friend is going to move to Singapore because of Obama's re-election?
The reality is that those layoffs were planned ...demand has been down in Q3 and Q4 and beyond doesn't look promising. Business wants to hoard cash.

When demand picks up, your friend will be hiring lots more. When will thing improved? After banks start to take on the losses from their bad loans, instead of forcing sovereign countries to pay back the loans plus interest over decades. Governments can no longer afford to bail out their banks and they shouldn't.

 

[myo539]

Thats just political correct tough talk from Siegel. There are lots of people like that in the US.
You don't even know if he gave anyone if all a raise and if you track him till next year, there will be lay offs in his company for sure. The same thing will happen all over US as business owners know whats coming already.
All this will spillover into Singapore as US consumption goes down. Do expect a downturn in Singapore next year. You might even lose you job.

Thank you for the tip. I will clear all my stocks even though they are currently at rock bottom. Better to cut loss than to hope for miracles.

But on the other hand, there are Singaporeans who are buying cars and properties like there is no tomorrow! And on the other thread, there is somebody discussing about his expensive holiday trip to Australia.

These people will surely raise heaven and hell if SMRT or Translink increases its fare by five cents.

 

[Kinana]

Thank you for the tip. I will clear all my stocks even though they are currently at rock bottom. Better to cut loss than to hope for miracles.

But on the other hand, there are Singaporeans who are buying cars and properties like there is no tomorrow! And on the other thread, there is somebody discussing about his expensive holiday trip to Australia.

These people will surely raise heaven and hell if SMRT or Translink increases its fare by five cents.

I will be looking out for fire sales next year, sometime in the fall.
2 residentials and 2 commercial.

 

[Freespeakereth]

Perhaps now America will see more textbooks on the table, and fewer steeaks and pork chops.

 

[contangee]

Again you showed your ignorance. Bush worked with a democrat dominated house of representatives and senate and he tried multiple times to reign in on the sub primes but was blocked by Dems.
I know US politics very well, you don't, don't talk cock in front of me.

WTF? How am I showing my ignorant? Just because you say you know US politics does not make it true. How about you tell us why you are more qualify to talk US politics ? Frankly looking at the quality of the posts from other posters (Hypocrite, Larkyworld, skponggol, chuckyworld, just to name a few) here you seems least qualified to criticize.

Anyway, most Presidents have to work with a different party in the house or senate and as you may recall, Bill Clinton was impeached by Republican controlled house. No President gets a free pass just because they were blocked by the other party. Of course Obama now have to work with a Republican controlled House.

Also, subprime by itself did not cause the entire meltdown. See this Businessweek article below, essentially the lack of control, not the act itself. Also, you conveniently forgot the fact the Bush turned a $300 billion deficit to a $1.2 trillion deficit. On top of the two wars, he also increased discretionary spending more than 200%.

http://www.businessweek.com/investi...t_had_nothing_to_do_with_subprime_crisis.html

More importantly, the uncontrolled use of financial derivative securities caused the impart of these loan default to multiple. As you may recall, the Republicans and the Bush's advisers were blocking all effort to regulate hedge funds and the use of financial derivatives. See Wall Street Journal article below.

http://online.wsj.com/article/0,,SB111764408173648264,00.html