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Economy shrinking - warning that economy will shrink until 2010.
Here is another entry about a real situation of world economy that many people talk about. As for me, I realized that this is not a “game” that we should get involve because it will effect out daily life. Over the past few months, I’ve seen quite a few fearful sounding forum threads where some people seem incredibly worried about the bad world economy.
Well this is true because the first official signs that Britain is in recession will be announced this week, with Government figures showing the economy shrinking for the first time since the dark days of 1992.
The first fall in economic output for 16 years will be matched by dismal forecasts from leading economists that there will be no recovery until 2010. They are predicting that the official Gross Domestic Product figures, due out on Friday, will show that the economy shrank by 0.2 per cent in the three months to the end of September. All agree this will be the first of at least two quarters in which the economy contracts - the official definition of recession.
And tomorrow, economic forecasters with leading accountant Ernst & Young will predict that the economy will continue to shrink for three further quarters before bottoming out in the second half of next year, with only a weak recovery in 2010. So as a Malaysian, what should we do?
Nothing.
Just be smart with our daily expenses and also our investment. Don’t waste your money to the nonsense and stupid reason. You see, the reality is most people are hardly rational about how they spend money, especially when it comes to things they’re highly passionate about. We can’t predict what will happen in the future but we can make a proper preparation for that reason. Just my 2 cent 
** Read also what is the credit crunch at ThisIsMoney.
One Response to “Economy shrinking - warning that economy will shrink until 2010.”
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Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves. One more thing is in the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. Remember, a business that makes nothing but money is a poor business.
[…] kepala. Dapat gaji 1 haribulan, 5 haribulan dah kering. Nak bayar itu, nak bayar ini. Ramalan pakar ekonomi pula sibuk mengatakan ekonomi dunia semakin tidak stabil. Kemungkinan akan ada di kalangan kita […]