Korean Job Discussion Forums

[nuthatch]

Markets Across Asia Tumble
http://www.nytimes.com/2008/09/06/business/worldbusiness/06asia.html?hp

[sojourner1]

Is this the big crash we've all been waiting for? Probably not, but the global economy and markets are gyrating towards a gloom and doom failed scenario. This is an age of tremendous change we live in and expect it to be not rock solid stable continuous wealth building time like Americans enjoyed during the 20th century.

Even if you have no money invested, the markets directly effects everyone in the form of availability of your future career opportunities, your level of pay, how much stuff your earnings will purchase, and your cost of living. That's a real big issue we should all be looking at regardless of which country you live in or where you're from. While we can't do much about it, we should be aware of what to expect and what to not expect. You can't base yourself on what dad and grandpa achieved, because their time offered more opportunity to build wealth, but offered much less knowledge and technology though they might had been happier due to being more secure. One generation enjoys many well paying career focused jobs, continuously increasing asset values, owns real estate, and retires with a golden egg while the next generation suffers a long struggle with many going nowhere jobs, no savings, big debt, no home ownership, and no retirement coming. That's how the ball bounces or the cookies crumble. Hope it all changes in the next 10 to 20 years to give us a chance to do some of what those before us did. Have hundreds of thousands of dollars saved up, own property that increased many fold, and chill like a villain on your own property upon retirement. No worries; just be happy until the ticker quits. That's how easy they had it if willing to go to work as a young and middle aged man...

[Ya-ta Boy]

Ummm, the KOSPI ended the week one point above their low point of the week. Maybe it'll go lower next week, but maybe not. The US dollar exchange rate improved again today.

There is a report at Chosun Ilbo about how the instability of the stock market is because of internet rumors. It may be true.

At least twice a month there is a post about the crashing and burning of the Korean economy. It hasn't happened so far---and as someone who was here in '97, I can tell you no one knew that collapse was going to happen and even then it recovered pretty quickly--faster than anyone predicted.

It's a good thing to keep in mind that economic experts are also highly political and 'predict' what they want to happen to justify the economic model that they wrote their thesis on.

[Thunndarr]