Saturday, November 22, 2008

The Domino Effects

As someone who will be graduating in a year and a half, it's really ignorant if I don't give any close attention to the current economy status. This is simply because I might end up jobless after my graduation in year 2010.

Ok before I even start this post, let me warn you that it will be long and lengthy and it can totally make no sense to you.

The global financial crisis was mainly caused by the credit crisis and started with the bankruptcy of few of the humongous investment bank in US like Lehman Brothers. Well I am totally not a finance guy so I'll try to put it in a simply way.

To sum it up, the root cause of this crisis is the cincai-ness of the banks in US to give out loans to people especially mortgage loan. They probably give out loans to anyone without actually doing background check or approve them even though the people might not be eligible. The truth is, in year 2006 or earlier, there were already financing experts warning this kind of irresponsible acts will snowball and become disastrous. Instead of fixing it, the Wall Street actually sugarcoated all the dept as profitable investment and asked foreign investors to invest in it.

As how the Chinese saying "Paper can never wrap up the fire" (纸包不住火) goes, with the announcement of bankruptcy of Lehman Brothers and the possibility of AIG to go bankrupt, the world suddenly discovered all the investment that they put in US had turned into useless papers that at its best, can be used to wipe ass in the toilet. Therefore for the first time in the history, an Europian country - Iceland declared bankruptcy. (Mainly because their banks put all investment in US. Anyway don't worry they can still survive by making lotsa ice kacang to eat. :P)

They said that Malaysia will actually feel the impact next year. Having my internship in one of these MNCs, I already felt it very intensely even for now . This is mainly contributed by the ever-dropping share price on the main page of the company website and the email by CEO attempted to assure the employees that the company is well-positioned.and the hiring has frozen. Meaning the chances of me to get my job there after my graduation are getting slimmer.

Apart from reading The World Is Flat, taking up Japanese class, working hard for exam, learning how to drink to socialize, jogging, playing basketball, traveling, singing, blogging, joining Robotic Society and getting my internship in a good company, I really don't know what else to do to put myself in a good position.

Perhaps I should start learning how to cook laksa so that I can start selling it if I can't get a job in 2010?


The Domino Effect. Nuff said.

ps: Pardon me if there's anything not so accurate in what I've written. Please don't use it in your financing assignments or whatsoever. I'm just an engineering student. XD

11 comments:

Niel said...

ya it's really scared thinking abt the crisis. and the worst thing is the denial state of our Govt'. Perhaps the end of the world is nigh?

stupid said...

haha, i'll learn char kuei tiao and sell next to you~

kym said...
This comment has been removed by the author.
kym said...

For u, personally i think u will never jobless coz u r so capable.

There is one thing that might can help u when u r jobless;find a rich girlfriend and u will never starve ^^

=chuan guan= said...

hahha..u just got it half right there..there r many causes as well..i heard alot from my supplier..industrial gona get a hard knock for next 1 year..

Anonymous said...

....lala

sian said...

malapropipi semo sian talamy sukremonte. sia pou pau!

sian said...

kae vin , sine turuta yiaw chi chi ! haha! lamdiaja majuk ke majuk lu sinou titi lo ! haha, :)

calvin said...

i don't know what is happening, but this is the second time my comment is gone after i have posted it.

anyway, just to proof that i don't have Alzheimer, here is my comment before this.

actually i was only asking you to pick the last option, so that i can get free bowl(s) of laksa every time i visit you xD

Anonymous said...

FYI, your interpretation is merely inaccurate... the root cause is more severe than what you thought.

specialhuman said...

Niel:

lol. Today i heard another guy saying the end of the world is nigh.

stupid:

char kuew tiao and laksa makes good counterpart.

kym:

Thanks for giving me such credits. Lol. I don eat soft rice one :P

chuan guan:

I'm not writing a financial review on the credit crunch ok. haha. Ya. Next few years are predicted to be bad.

sian:

miao~

calvin:

Sure. I'll make u laksa with specialties inside. :P

anonymous:

lol. I know. Please read my post script. and again, I'm not writing a financial review that makes people doozing off. It's just based on what I heard and what I saw.