|
  |
|
|
Why the Economic Recession in Asia?
By Eddy Su
One day, a plain-looking man came with a pretty-looking
office lady to the LV store in Causeway Bay Hong Kong
Island.
He chose an LV bag worth HKD 65,000 for the office lady.
When it came time to pay, the man took out a cheque
book and wrote out a cheque. The salesperson was hesitant because the couple hadn't
shopped there before.
The man discerned what the salesperson was thinking and
he said calmly: "I sense that you are concerned that this
cheque may bounce, right? Today is Saturday and the
banks are closed. Let me suggest that I leave the cheque and the handbag
here. When the cheque clears on Monday, you can deliver
the handbag to this lady. How about that? The salesperson was reassured and gladly accepted the
suggestion. In addition, he waived the delivery charges. He
promised that he would personally make sure that this gets
done.
On Monday, the salesperson took the cheque to the bank.
The cheque bounced! The irate salesperson called up the client, who told him:
"What is the big deal? Neither you nor I have suffered any
loss. Last Saturday night, I went to bed with that girl
already! Oh, by the way, I thank you for your cooperation."
This story reveals the nature of the sub-prime mortgage
crisis. When people have high hopes for huge future returns,
they lower their guard about the potential risks.
This pretty girl thought that the HKD 65,000 LV bag was
going to come home on Monday, and so she lowered her
guard. Therefore, she believed that her investment in the
ONE NIGHT STAND was worth it even though it was based
upon huge and highly uncertain risks.
Investment companies are great with packaging high return
(but high risk) deals. The Chinese stock speculators are like this pretty woman.
As such, they deserve to lose money. Without people like
these, how are people going to make money from the stock
market? As for the media and the stock analysts, they often
play the role of the LV salesperson.
|
Contributor's Note
Copyright
|
|
Eddy
PLEASE VISIT THE CONTRIBUTOR'S WEBSITE
Eddy's Life Blog
Life blog of a medical student, basketball
www.eddysu.blogspot.com
|
|
No reactions yet.
Please login or sign up to rate this intel.
Please login or sign up to add a comment.
The copyright for this content entitled "Why the Economic Recession in Asia?" has been specified by the contributor as:
All Rights Reserved
This content may not be copied, distributed or adapted by anyone under any circumstances.
|
 |
|
This intel was contributed by eddysu
|
May, 2012
2008
January, February, March, April, May, June, July, August, September, October, November, December
2009
January, February, March, April, May, June, July, August, September, October, November, December
2010
January, February, March, April, May, June, July, August, September, October, November, December
2011
January, February, March, April, May, June, July, August, September, October, November, December
2012
January, February, March, April, May
|
|
Not a member yet?
Qondio is a powerful network for making it online. If you have a website to
promote, we can help.
Sign up and get in on the action.
|
|
Welcome to Qondio! Discover the awesome power this network can deliver by going to our About page. Or you could skip straight to the Sign Up form.
|
|
