Global Meltdown!

Talk about the Greenhouse effect, global warming, animal extinction, coming soon? Important? Yes, but what is happening now is more important. The Global Meltdown!

It's a Global Recession! Crude oil price down, stock market down, currency rate unstable, insurance company in trouble, banks in trouble...!

Everywhere around the world, financial experts are cautioning its people to be prepared for the worst global recession ever! But not our government, yes, Malaysian leaders said, "Our country and its people need not be afraid for we are fundamentally strong!" Another proven record that we are ruled by brainless people? Or maybe they meant themselves?

I really don't care much about what they say. I know I need to do something because I'm actually worried about this current situation. I guess everyone is, looking at the market trend for the last few weeks. Shopping complexes are less crowded, the queue at the cashiers are short, traffic flow seems smoother.

Being in retail business, this is really terrifying! It means sales will go down more and this month is already down by at least 50% from last month's figure. Most people are adopting the wait and see, be cautious now, spend less, keep your money plan. I think this goes for me as well.

Keeping the money is not much a problem but where to keep them is a problem now. Someone told me that keeping your money in a bank now is not save either. If the bank goes into trouble, you will not be able to recover the full amount of your savings! RM60,000 is the guaranteed amount irregardless of how much in the account you have. If you have less than this amount you are quite save or else....phoof! All your hard-earned money gone! Sounds horrific! So what's the best next thing to do now?

Buy gold..? Is gold the only stable source of commodity during this inflation period? Well, I'm not so sure but at least it's real, permanent and solid! Maybe I should take out my savings and buy myself a few gold bars and bury them under my house...!

Or just hope that we can ride this tide out with the least damage.