http://www.afr.com/business/banking...possible-asian-banking-crisis-20160209-gmpzfp
Scary... Any comments from industry insiders?
Scary... Any comments from industry insiders?
Doom and gloom predicted
- Thread starter UncleFai
- Start date
V highly possible.
Many banks are already doing things that point to trying to manage an oncoming crisis.
Example, HSBC announced to all staff worldwide that there is a pay freeze for everyone for 2016. And they showed equity team staff the door just last month.
And of coz u may already read news on other banks. Standchart is another example. The only bank that i didn't hear any bad news is DBS. but no news doesn't mean good news......
Its a likely event.... property will also come down, too many condo purchased by Indo / India and PRC that's made the market go nuts.
End 2016 is not looking pretty... close to 150 Small Oil companies in USA will start declaring bankruptcy in the next 3-4 months with oil at this level.
ALL banks are a mess.... issue is right now they as are many countries not prepared for another 2008!
Too Credit Cards and not keeping up with payment... those who are in that situation... it's going to get bumpy... When bank takes a hit, they get more touchy
Sion
Senior Member
Be positive. Be optimistic. And always hope for a better tomorrow:
That movie has no happy ending hor IN fact totally very dark ...heheh
More gloomy prediction...
https://sg.finance.yahoo.com/news/m...wing-singapore-024500286.html?linkId=21174577
https://sg.finance.yahoo.com/news/m...wing-singapore-024500286.html?linkId=21174577
I don't believe this BS.
MAS (who sits in IMF executive committee?) works v closely with our banks and they would have anticipated this long time ago. We are not top financial hub for nothing.
Can't say the same for HK coz their banking system is different from us
http://www.channelnewsasia.com/news/business/singapore/singapore-banks-risk/2509772.html
Sent from Channel NewsAsia Android app
Sent from Channel NewsAsia Android app
Staying short of opening a political topic, did you have a look at the owner of CNA?
Even without this, a variety of opinions must be considered and as usual: the truth is somewhere in the middle between them all.
Sion
Senior Member
Maybe you could save us time by telling us the truth instead of us having to go and read all of the informations?
Sion
Senior Member
You don't listen to UncleFai at own risk.
Don't come running and crying after you've lost all your investments. :bsmilie:
Sion
Senior Member
Over here they tell us we are in debt to China 19 trillion. So why not cash in some t bills and carry on? Unless USA is a broke joke. I don't know if I buy all of this finance sector the sky is falling business...sounds like propaganda for the bankers of the world.
not all 19 trillion is with China. I think China holds about 1.3 trillion US debt. China is already selling its US Treasury holding ... not because of credit quality of US but because of China needs for cash.
Same situation as to why some sovereign wealth fund is liquidating stocks (especially financial).... low oil price resulted in budget deficits and the rich sovereign wealth funds need to liquidate their portfolio.
Financial sector is not what is used to be ... Investment Banking wasn't as profitable as it once was ... huge amount of regulation after the GFC resulted in banks required to hold lesser risk and more regulatory capital ... and hence lesser return for share holders. Private Banking probably will also take a hard hit under the current stressed environment. Having said these .... i also need to add since banks are much more well capitalised right now ... they should be able to handle the turmoil much better then a decade ago.
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