We are taught from young to save and save. Its a virtue. We save for a rainy day, so to speak. We save for our children's future. We save for our retirement. Its always save, save to be safe. Its always dollars and sens.....
Listen to the economists, the financial experts, analysts and advisers today and try to make sense of what they are saying. Spend, spend, spend are their fervent calls to create demand and stimulate the economy. Have they forgotten the proven saying, "Do not simply spend, especially when you do not have". Are they saying that the ordinary Malaysians should spend more by borrowing more, by applying for more credit cards, by buying more houses (even if you have only 1 wife, also never mind, prepare for the future lah), just spend and buy what you don't need. It is very important to just spend and stimulate the economy. You do not have money, you borrow, never mind how you are going to pay back, just borrow some more and everything will be fine when the economy is stimulated. Belakang kira lah. Make sense?
YES. It was how those financial experts in the USA did. They created so much business turnover the past few years by lending more and more to the sub-prime borrowers, do some packaging and sell it to the hedge fund managers and subsequently roped in the insurance companies and generously offered them a share of the hugely profitable business. Everybody was happy except the borrowers who cannot pay and there were too many that could not pay. Now there are BIG problems. Never mind. The US Government will bail the companies out. The CEOs and CFOs will not be shot, they do not have to go to jail. In fact, with the bail out they have access to more monies pumped in by their saviour Government. With these monies, they should be able to pay their bonuses for creating such a Good Idea. Never mind the balance sheet, eventually all will balance. If not, the Government will put in more monies and later pay the CEOs and CFOs retrenchment benefits and new people will fill in their positions. Its okay.
Still making sense to you? If NO, never mind lah. Just listen to those experts, spend lah! Spend the Dollar and forget about the sense. Its so simple and easy. Even my 12 year old child also know how to spend.
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If you listen to the experts, then you will end up in more trouble. Look at all the financial institutions and big businesses in USA, Europe, Singapore and more closer to home, Malaysia. These companies have their own financial experts and advisors, why are they in trouble.
ReplyDeleteMost advisors and analysts will tell you what you already know, so why listen to them. If they are so expert, they might as well keep it to themselves. The best thing to do today is use your common sense and spend within your capability.