today, there is this news about this legend guy, a former head of nasdaq was accused of fraud...the BIGGEST fraud case in its history......

basically he pay the earlier investors with money from the later investors.... i was like WOW!!! this guys is damm smart.... i should have thought of that and make my billions!!!!

anyways he was caught... a US $50 BILLION scandal! so my guess is buying empty and selling it empty to make money and cheat, that is the basic deal.

upon reflection, this has been how the world economy being functioning..... everything is virtual, no one knows where the money went. everything is email.... and meetings.....where is the real work done? the people who owns oil dictates how much to sell.... they don't really care if the world can afford it. the country that export food dictates how much to sell and how they want to sell it, as for the rest of us, we speculate..... everything is virtual, and nothing is real. the amount of money revolving in the economy is fixed. where did that much money came in from? we 'expert' our way into this crisis.....

cana you believe a high rise condo cost SGD2000 plus per square foot!!!!! people are paying ridiculous prices.... and they speculate.... the banks lends them the money.... the specualte more...the banks lend them more.... and the start to invest..... and these investment houses..where did they invest in???? the economy is only so big...anything bigger thant the big is virtual..... non existence..... and when the buyer cannot reapy the loan..things spiral...everyone gets the shit....

when the shit hits the fan...the poor are hit with the most shit...they are uses as shield to cover the rich!!!

so now, the hole cannot be dug further anymore... it have seen the light of day.... everything is finally exposed.

and i suspect that the americans still have not learn their lessons... they want to spend billions to bail out the very companies that turn the economy upside down.

i think i have to agree with this guy, peter schiff. he predicted this collapsed, but no one believed him...and in some of the clips you see in you tube..there are professors, economic experts and gurus were all laughing at him and ridculing him for his predictions.... yes... he was made to look like a fool....

look at the world today... no one is laughing i guess...especially those who laugh at him.... and these are so called experts ...so now do we want to listen to all these shitty people and pay them millions to tell us how to invest, save and spend???

i agree with peter, to let this compnaies fold....and restart everything again.. and this time on the right note.

by the way, we in this land,we also pay people millions to do good work... but we lost money...we lost people who limbs and we are all told to move on... don't ask... dont talk...dont think.... we are better off with one party..... and these are people who are top of the crops..... or are they?

chickens!!! who do not dare to admit they did wrong? chickens who hide behind some fabric when crisis came and all became yes men/women...... till today...NO ONE...NOT EVEN ONE of them came out to apologised to the people.... maybe they know we are the land of chickens..... people who dare not speak out....

oh well..... we have the power.... and how we can make use of it really depends on us. vote with your eyes open!

another useless thought....