"...the global economy will come to a stand still..." -IMF 2009
That IMF dude's quote gave me goosebumps, or it could have been the cold wet weather. Anywho it doesn't take one to be an economic analyst to see the effects of the global economic crisis. This year's CNY was a good indicator how bad the people are faring. This year it is strangely quiet, and very few friends and colleagues call and ask me to come over for a visit unlike years back. Looking at innocent kids receiving their ang pows was :) but looking at the face of the givers, it was obvious things aren't looking good for them. Sure enough it was talk about "haihz there goes my one month salary", "yeah had to reduce, because I'd be broke with all the 56 kids" etc.Hell even several shops were seen closing down and replaced by new ones, only to be closed down a few weeks later. People are spending less while stuff are priced higher and higher. Even if the price was lessen, the people will still spend less, breaking all the rules of economic model one learns from basic Economics 100. This is truly a crisis worth to be called Great Depression II, or something more epic. For now I'm gonna spend here and there on basics and whatever little luxuries to cheer me until the economy recovers (IF it recovers, a BIG IF) in 2-5 years time.
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