Well known financial institutions are going bankrupt and despite urgent government actions trying to bring some relief to the financial sector, this phenomenon will persist according to financial experts.
When USA economy starts going in recession, the rest of the world will be affected in the long run.
And we are witnessing everyday signs of panic especially on stock markets in europe and asia. It is like a finance tsunami whose effects are threatening the whole world.
For the normal citizen, what can we do ?
Somebody just withdrawed all his money from the bank and sold all his stocks and then kept the cash in a safety box.
Shall we choose such drastic measures by keeping our money under the mattress asour grandparents did some decades ago ? I don't think so.
Shall we control our bad expenses and find ways to increase our income. Maybe..
Easier to say than to do, but let us try to be optimistic for the future.
Alain Fok
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