After a week of sell-offs and dumping of shares through short selling, The Dow climbs a crucial 368 points to close the week. Whether that upward motion pattern will hold for the next week remains to be seen. I watch this short video on why governments would save banks and a few messages hit home. If I owed the bank more than 10 grand, they would bring me to court and sued me for bankruptcy. I am sure my government wouldn’t come help me out on that one.
Back home, Singaporeans have been told the second time in a week to prepare as the country begins slipping into recession. If it had all been just hearsay and speculation for the last 9 months, this has to be the clearest indication given the fall in exports the last quarter by some 14% and the recent developments on Wall Street.
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