Comments on: World Ranking of Current Account Balance

By: Annoymous

Annoymous — Sat, 05 Dec 2009 22:01:58 +0000

Why has there no one realized this piece of comparison is completely biased and unfair? It basically means nothing at all for China and USA to cover the head and toes of the list. Reason 1, Most Chinese are illiteracy in the mainland China, they Do Not open a bank account doesnt mean they dont have money. Most of them hide the money or valuables under their bed/tomb. In contrast, USA residents are better educated and modern, they have many bank accounts as compare.

By: yowchuan

yowchuan — Fri, 28 Aug 2009 16:35:39 +0000

Mike,

I guess one of the issue that the 'Current Account Balance' brought up is how some of these countries are leeching (countries with negative balances) on other countries' economies (countries with positive ones).

Also, a healthy economy is one where valuable goods and services are being traded, where you are only allowed to exchange your value with someone else's value.

Right now, too many people are buying value (goods and services) in advance (using credits and loans which creates an artificial boom in the marketplace). There's always a finite amount of value created in the marketplace because resources are always finite to begin with. At the rate new credit and loans are created, it seems that we can spend like there's no tomorrow.

By: miketee

miketee — Thu, 27 Aug 2009 20:29:23 +0000

Not quite sure what to make of it. On one hand – spending helps to stimulate the economy, create jobs and all – but what, no savings? Don't forget that among the bottom in the list, alongside those “advanced” European countries & US, also sits Ethiopia, India and Sudan. So I'm guessing account balance isn't the sole determinator of everything.

By: pearly

pearly — Sat, 22 Aug 2009 06:15:05 +0000

Hmmm, You made me think quite hard. But as mind boggling as it is, I survived your Penang invasion. ha ha. Have a good trip home.

By: eugeneung

eugeneung — Wed, 19 Aug 2009 16:26:02 +0000

Economy now is no longer on the fundamental of supply and demand, it is about how good one can cheat and about how stupid the other one can be cheated.

I rather believe those who can teach me to turn my RM100 to RM 150, then those who can teach me to be a millionaire………

By: yowchuan

yowchuan — Wed, 19 Aug 2009 00:10:12 +0000

I can still remember when his best-selling 'Rich Dad Poor Dad' hit the local book stores about 7-8 years ago, he was preaching real-estate, real estate and more real estate.

I wonder how many of those subprime mortgage victims got their ideas of owning real estate from these 'gurus'…