Back to the basics for the US of A and even Singapore too.

[lifeafter41]

Looking at how the credit crisis is playing out. It looks to me will be a long and drawn out but very painful process.

While I am no financial guru, a lot of the wealth that was built is based on debt and leveraging, something out of nothing and now the chickens has come home to roost.

I guess it's back to the basic, where the actual manufacturing, doing of stuff will and should eventually take hold.

 

[zhihau]

Looking at how the credit crisis is playing out. It looks to me will be a long and drawn out but very painful process.

borrowing to buy things one wants is just pure senseless stupidity, more so when one don't have the capabilities of repaying the loan... wait... do folks even think about what they need and what they want?

 

[jw5]

Looking at how the credit crisis is playing out. It looks to me will be a long and drawn out but very painful process.

While I am no financial guru, a lot of the wealth that was built is based on debt and leveraging, something out of nothing and now the chickens has come home to roost.

I guess it's back to the basic, where the actual manufacturing, doing of stuff will and should eventually take hold.

In some cases, they built nothing out of nothing, but it was simply not apparent at that time.
Eventually, it will be the ordinary working man who will bear the brunt of this melt down, as the individuals who caused these problems would have made their money in the good years.
Very sad.

 

[jw5]

borrowing to buy things one wants is just pure senseless stupidity, more so when one don't have the capabilities of repaying the loan... wait... do folks even think about what they need and what they want?

Those folks wanted money, and they got it.
Even if they are now sacked for their lack of prudence, they have already got their money and will be comfortable.
It's the working man trying to make ends meet who will pay for this mess.
When will these individuals be held accountable for their greed and misdeeds?