The Valuable Paper…
Monday, October 6th, 2008
Recent economic downturn in United States that involved several large banks shutdown making me think if US so powerful and rich what about us the devoloping country. All the problem are related to the money, money matters. I once read about the scenarios in U.S said started after the 9/11. Among the caused are after 9/11 many banks give people easy credit to boost the economy but in the end it turns many bad debt happen.
Just thinking if U.S, a rich country but still have many people that can’t afford to pay loans and as a result a bank is bankrupt. Here we just here a person can be bankrupt but a bankrupt bank? Maybe in movies only. Even though Malaysia also still striving to catalyst it’s economy, reducing poverty problems and recent political issues, many of the people still can pay the loans. Yes, there is a trend of young bankrupt mainly because of credit card, but the amount of bankruptcies still can’t bankrupted a bank.
Tags: currencies, dinar, economy, gold
