Prepare for a Recession

Every day, we have been bombarded with news of gloomy economic outlook in the US with looming global recession on the cards. It is about time that we change our spending habits and not to buy on impulse. We have to watch our savings as thousands of jobs are lost in the US. Wall Street employees are performing new tricks on the roads to earn money in their business suits. Dow Jones, Hang Send Index, KLCI and all major share markets are reporting bear run these past few days. Goverments are injecting billions of US dollars into the failing banks in the hope of containing the economic rot. With thousands of jobless people and financial crisis that is spreading globally, we should now be prepared for the worst before any economic recovery is seen, not anytime soon.