This is the picture of a mother of seven children during The Big Depression in 1929.
Here is some description about the Depression:
The Great Depression took place from 1930 to 1939. During this time the prices of stock fell 40%. 9,000 banks went out of business and 9 million savings accounts were wiped out. 86,00 businesses failed, and wages were decreased by an average of 60%. The unemployment rate went from 9% all the way to 25%, about 15 million jobless people.
I am not an economist and do not know if this will happen this round. Talking with my senior business partner and he gave me a simple formula,
Recession + Deflation = Depression
He said probably this will be the depression that everyone may have one in his life time. The last one in 1929. Sound scary. However, I only experience Recession that happened 1985 & 1997, but I could not understand Deflation as only Inflation all this while. However, I know Depression is very scary and it may kill people. (remind me Leslie Cheong, the Hong Kong star).
Hope that Malaysia could get away of it as promised by our New Smart Finance Minister.
5 comments:
Hi Beng from Penang,
Just found out that you have listed me on your blogroll. Thank you.
Will do the same for you at mine.
Too late in the night to read all your postings but from looking at the headings, I'm sure we are on the same wavelength.
Will return tomorrow and read the rest.
Hey,
Please post this in your blog. Thank You.
Dear friends,
To those who have received orders to appear in court for not paying up their MPPP summonses are welcomed to a press conference with YB Rayer of Seri Delima outside the High Court beside Dewan Sri Pinang on the 16th of October 2008 at 8.30a.m. This is to help all of us thus more information on it would not be revealed over the internet. Thank You. For more information, contact 019-4806462 (Dalbinder Singh Gill).
Hi romerz,
thanks and nice to know you and share views.
It is great to get the same wavelength together and one day it will become resonance.
A great change will occuer.
Ah Beng, you are getting popular now. Congra.... your blog brother
www.penangfengshui.com
i am one of the many readersssssss that didn't comment all this while, like your blog, keep it up !
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