Recession is coming...

Dear Tun Dr. Mahathir,

I suddenly see the twilight of a major economic change which may be a dawn of ending the Crude Crisis. Somebody has finally concluded that recession is coming and there will be no more reason for Crude price to go up further again! The following is a message forwarded to me by a friend of mine and I wish to share it with you:

"Recession is coming ... make your own judgment, don't panic !!
Do what is wise. The recession looks very eminent. It is really time to take proactive steps to avoid a painful time in the next two years, which is how long the recession is expected to last.

Suggestions:
1. Don't take any loans, buy homes, properties with loans, or even cash. Keep as much cash as possible.
2. Pay off as much of personal loans, private loans, as debt collection will be hastened.
3. Sell any stocks you can even at lower prices.
4. Take money off from Trust Funds.
5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
6. Don't invest in new capital.
7. If you are selling homes/ properties/ cars , do it now, when you can get good prices, they are going to fall.
8. Don't invest in new business proposals.
9. Cancel holiday plans using credit cards.
10. Don't change jobs, as companies will retrench based on 'last in first out'. Stay cool, wait, and if you took all of the above actions and more, you probably will be better off than many.

This is not a rumor. Bear Stearns is the first of many banking and financial institutions that will start falling in the not too future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world.
US economy falls, the rest will crumble.
India and all those self-sufficient economies will be the most protected, but not gullible.
Europe may be a little stronger, but not China , another giant!
Malaysia will see significant impact.

However, recession is probably the only way to build up a downward momentum for the movement of fuel cost, and bankruptcy is the universal justice for punishing the fund managers who have imprudent heavy financial exposure to the forward buying contracts in Crude."