Life in the past decade seemed like Easy Street. Need a plasma TV set? Put it on a credit card. Need to pay off the Visa? Use the MasterCard.

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Credit cards are very useful and convenient when travelling overseas. If you use one card to pay for another, then I am afraid you are heading for the deep end. Liquidity is the surest form of credit standing. Cash is universally unequivocal form of payment.

Americans are the sole culprits lah . . . this article machiam blaming the whole world . . US investment banks like Lehman lent to subprime borrowers and off-load mortgage securities to international nvestors, US credit sector woes metastasized into global calamity due to deeply intertwined global financial system . . .

Please lah... greed will never end.

Now you seen it all.

There is no end to greed; just look at S'pore Power's latest 21% hike in electricity tariffs, when the price of oil is going down.

greed will just escalate until it burns itself and burns the consumer himself.

People have short memories. That's why things happened before will happen again, both good and bad.

the worst is not over yet.gear for more hardships and ready yourself for more sacrifices. back to good old kampong days if there are any left. go plant some vegetables and tapioco in the parks nearest your home.

Greed may not necessarily be a bad thing. Like cholesterol, there is good cholesterol and bad cholesterol. Greed, if you know what you're doing and if expertly managed and properly channeled will reap bountiful benefits. After all, billionaire investor Warren Buffet recently said, "Be fearful when others are greedy, and be greedy when others are fearful." I like his contrarian thoughts.

Despite criticisms by some people in this forum, I think this govt. is on right track in acquiring US assets now. On paper we have made losses but its short term. They're looking like 20-25 years down the road. The S'pore govt. believe (I do too) that America will still play a major role in world affairs in this 21st century. Even when China displaces the US economy as the most powerful in the coming decades, the US would still be a Very major #2.

Notice how the S'pore govt. have made increasing forays into foreign countries forming alliances and partnerships with local authorities on big ticket stuff like Shipping Ports, Airports, Banks and Financial Institutions, Telecommunications, etc. If not strategic partnerships, then part ownerships or management. Sure, they're not always successful in trying to gain a foothold in these ventures. In business or all forms of contest, you can expect to win some and lose some. But they continue to be patient, smile, be diplomatic, open and honest, ever cautiously accomodating, and have the financial muscle. However beneath that cool facade is a Ruthless desire to acquire/part-own foreign businesses through business and diplomatic means.

My two-cents.