Placebo “Wealth Effect” from both Fed and HKMA is wearing off. As such, here comes the pain.
March 30, 2008 – 4:32 pm
As time passes, people are beginning to wake up and understand the grim reality.
- You need a job.
- You need a job that produces something tangible.
- You need a job that will give you long-term stability.
- You need a job that is recession-proof.
- You need a recession-proof job that will not be outsourced.
Well, the U.S. Federal Reserve and the Hong Kong Monetary Authority are running out of ammunition (interest rate cuts) to help stabilize the economy and maintain the feeling that people are wealthier.
Even the ultra-rich elite people feel poorer, and THAT is grounds for deep concern.
