Dear All, I am sharing herewith an article circulated by JM Financial Services.
PREVENTION IS BETTER THAN CURE…..
Recession is coming…
make your own judgment, don’t be panic!
Do what is wise.
The recession looks very imminent. It is really time to take proactive steps to avoid a painful time in the next two years – the period it is expected to remain this time.
– Avoid taking any loans to buy homes, properties, or even cash loans.
– Keep as much cash as possible in hand.
– Pay off as much of personal loans, private loans, as debt collection will be hastened.
– Sell any stocks you can, even if the price is a bit low.
– Take money off from Trust Funds.
– Don’t believe in huge sales forecast from customers. Be extremely prudent with lowest inventories and reduce liabilities.
– Don’t invest in new capital or new business proposals.
– Do it now, if you are planning to sell homes / properties / cars when you can get good prices as returns would be less when recession sets in.
– Cancel holiday plans using credit cards.
– Don’t change jobs, as companies will retrench based on ‘last in first out’. Stay cool, wait, and if you took all of the above actions and more, you probably will be better off than many. This is not a rumor. Bear Stearns is the first of many banking and financial institutions that will start falling in the not too future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world.
– US economy falls, the rest will crumble. India and all those self economies will be the most protected, but not gullible. Europe may be a little stronger, but not China, another giant place!
Malaysia will see significant impact.
Be alert and pass this to your friends!!! Its NICE to be important, but more important to be NICE…:)…………..