Technical recession may already hits the economy in about 15 European Union countries and the EU forecast unemployment to climb to 8.4 percent in 2009 which literally means another 2 million people will be out of job. Even Hong Kong’s oldest stockbroker David Tung said he has not seen a financial crisis as serious as the current one throughout his 65 years of stocks trading. One thing that never fails to happen when economy crisis exploded is the increasing number of suicide cases. It doesn’t matter if you’re a seasoned stock traders or a young chap who have not even graduate from high school. The stock trading game does not discriminate and most of the suicidal lost not only their savings but also their jobs, homes, marriage and probably their kids’ piggybanks *grin*.

It’s sad to note that despite past suicide cases reported people still tends to treat stock market as a casino gambling their money away. The rule of the game is pretty simple – if you can’t afford to lose then don’t ever step your foot on the trading floor (inclusive of internet trading nowadays, mind you). There’re big time gamblers and there’re small time traders. Either way if you can’t afford to lose the shirt you’re wearing or the few thousands of dollars of savings then don’t spell stocks. This is not the game for you. You may do well in the game of fixed-deposit saving, provided the bank you trusted do not go bust. However if you still stubbornly wish to play the stock market then allocate the amount of money that you can afford to lose without thinking even once of committing suicide. If you’ve heart problem by all means go and do some knitting will you?

But not all suicide cases are directly related to losses in stocks betting. A person who suddenly lost his / her job may resort to such silly ending as well. The fact is only 9 percent of Americans are satisfied with the way things are going in the United States – lower than the 12 percent registered back in 1979. Based on the Gallup Poll result, almost 7 out of 10 interviewed pointed their finger at economic problems for their unhappiness. The latest reading revealed by Institute for Supply Management shows U.S. manufacturing activity tumbles to 38.9 in Oct – its lowest level in 26 years (more people to get axed?). Somehow people are questioning if Barack Obama should be their next President of the United States.

Based on the latest Presidential Estimate it appears that Barack Obama is leading with 55% advantage over John McCain’s 45% but some fear Obama’s victory could spell doom to the stock market. Obama’s plan to raise taxes on capital gains and on income above $250,000 was the reason why people thought so. But the other argument was that Obama intends to cut taxes that could benefit 90 percent of the Americans. Traditionally any new leader who wins the throne will spend some time “honey-moon” so let’s forget about that taxes trumpeted. It’s no brainer that President Bush is clueless about the economy hence how bad could it be to have Obama as the next President of the United States. What we need to do now is to sit down & relax and wait for the storm to settle.

Other Articles That May Interest You …

• Forget about rate cut, AIG may Crash the Stock Markets again
• The New Great Depression is a Different Animal, Stupid
• Cycle and the desire for Power, Money, Sex and Glamour
• Cash is King but do you have the bullets?

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November 3rd, 2008 by financetwitter

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