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 I am preparing for Global Recession, Be cash rich

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edyek
post Sep 7 2011, 08:42 AM

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QUOTE(Fabio1 @ Sep 6 2011, 10:56 PM)
Hi guys all Economist so called leaders World Bank, IMF, US Treasury and many more have indicated coming of World Recession, I personally foresee
this happening and I want take all precaution to avoid any financial crisis , whats your say.................
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Dont see what is the fuss about. Im in land banking, and when recession comes comparing to building property and paper assets, land banking is much more a better choice.

Nevertheless, have sufficient cash in hand to bail out my current debt with the bank and still be able to purchase more land. And like @dreamer101, i still can live with my current lifestyle.
edyek
post Sep 8 2011, 09:55 PM

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QUOTE(prophetjul @ Sep 8 2011, 09:45 PM)
You will quiver when you know that for budget 2011 of Rm240b,
Rm40b is for the salaries of gov servants, past and present.

If this goes on, how will the country sustain such practices?
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Issue more 1 Malaysia bond. Create more creative tax for us to pay. biggrin.gif
edyek
post Sep 8 2011, 10:07 PM

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QUOTE(dreamer101 @ Sep 8 2011, 10:02 PM)
edyek,

Increase LEGAL retirement age to 75.  Keep the EPF money 20 years longer.. Sell the IDEA as helping RAKYAT to save for retirement..

Dreamer
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rclxms.gif Brilliant too. From age 50 last time to 55. And yes, prolong it to 75 will make a big difference.

And I cannot imagine those old civil servants can work as efficient as those younger ones (and gov still need to pay them). Plus, more younger civil servants will join the boleh family. Thus more salary needed to be paid.

Cycle, cycle, cycle.
edyek
post Sep 9 2011, 11:36 AM

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QUOTE(Bonescythe @ Sep 9 2011, 12:49 AM)
Talking about EPF makes me puke.
Keep there longer, then you will see how they misused the Rakyat fund to the max.

There are a lot of occasion which I can feel is that insider buy shares, EPF eat those insider shares and push them up. What the crap is this kind of joke!!

When economy take a boom, share market return more than 100%, EPF declaring 5%+... This is BS to the max, and you can see how they use Rakyat money to make more money for their own
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QUOTE(prophetjul @ Sep 9 2011, 07:58 AM)
AND discontine the LUMP sum EPF withdrawals.......use annuities........... this will prolong the EPF monies.....
whatever is left of it
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QUOTE(prophetjul @ Sep 9 2011, 08:49 AM)
Thats right...........AND they will continue with MGS bond issues to be subscribed by EPF to............to
fund the paying of the 1.6mil GOV SERVANTS salaries and pensions............

Whatta a nice merry go round.........  till the EPF cow becomes.............................
user posted image
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rclxms.gif That why I don't contribute EPF now. Only contribute when I was still employed.

Not flexible enough for me.
edyek
post Sep 17 2011, 09:35 AM

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QUOTE(SeeD @ Sep 17 2011, 09:09 AM)
Not so certain about land banking though.
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Land banking can survive recession. As most people who buy land are using cash money (most of whom I know).
edyek
post Sep 18 2011, 03:01 PM

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QUOTE(property101 @ Sep 18 2011, 03:34 AM)
whats the best thing one can do during recession except eating up the emergency fund?
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Buy land and plant rice, vege, rear livestock and you can last for many decades of recession. smile.gif
edyek
post Sep 20 2011, 03:31 PM

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QUOTE(justin_nys @ Sep 20 2011, 01:48 PM)
I find this thread very interesting and edifying.
We keep talking about people who has emergency funds, gold, land and property...but what about the people who are just starting out and in building their egg nest?
Will Insurance fail as well? Kinda obvious I guess..
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Agree with @cherroy.

The only thing for those people who just starting out, there are no definite guide for them. It is all out there for them to go and learn.
edyek
post Sep 25 2011, 12:22 PM

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QUOTE(bayanbaru @ Sep 24 2011, 08:50 PM)
is it true now not the right time to buy car?
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it is always about affordability not timing.
edyek
post Oct 1 2011, 12:18 PM

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QUOTE(Hansel @ Sep 28 2011, 11:04 PM)
Doing business in Malaysia is still the best way to make a living, we have control over many things -> our taxation, our retirement age, it's endless, since the regulators are not so 'on the ball' in many areas.
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I strongly agree with @Hansel. biggrin.gif thumbup.gif laugh.gif nod.gif flex.gif


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