Monday, October 13, 2008

World of Gloom and Doom

Just 2 months ago many people were raving about the great Olympic opening ceremony in Beijing. How the economy was booming and what great times we were living in. Fast forward to today and people are worrying about their banks going bust, bringing with it their lifelong savings. How did everything ended up so bad?

I hear vulgarities aimed at bankers, obscenities aimed at the Americans, but who/what are the real culprits? I don't know enough to make a judgement but I'm sure there are many unhappy people out there pondering about those obsence money that bankers make from selling toilet papers to the masses.

HKD70,000 for housing allowances. HKD200,000 pay packages. Are they really worth that much or are they just another bubble? Surely a company can employ a platoon of capable staff with HKD270,000/month? I hope those bankers with no real abilities and waste every single cent of their paycheck every month, will lose their job tomorrow and find out that their bank account has less than 5 digits!

With the whole world is such shambles, I got to rethink my exit-from-HK strategy next year. Maybe there won't even be an exit strategy if the market keeps the downhill trend...

4 comments:

gweipo said...

those are the lower ranking bankers. Why do you think there are suddenly so many apartments currently to rent costing HK$120-350k per month?

And studying is one of the best refuges in a downturn, so go for it.

WhiteDuskRed said...

Absolutely agree with you that studying is one of the best refuges in a downturn. But one cannot be sure what the future will be like. Maybe I will end up with a without a job or make do with less than what I make now when I graduate in 2 years' time.

Lower ranking bankers... and there's alot of them out there on HK island~ I really cannot understand the HK$50k/mth rentals so HK$350k is... *choke*

gweipo said...

F the future. Live each moment at a time and enjoy it.

WhiteDuskRed said...

F the future... that's probably the most strongly worded yet effective piece of advice I have had in the past few months~ Strong but very effective!

And you are probably right. Why worry about the economy~ We only live once~

Worldwide Visitors