While waiting for our fight to Manila on our trip to the Summer capital ast November 2008, CNN reported that the three major U.S auto makers namely Ford, GM and Chrysler has asked the U.S congress for $ 25 Billion dollars to bail them out. According to CNN, if the U.S auto industry fails, this will translate in roughly 2.9 Million job losses; truly these are the signs of difficult times. The other day, Citigroup announced another set of job cuts bringing the total job cuts to more than 50,000. More signs of difficult times to come. On a more personal level, I talked with my mom last night and she revealed that some of my relatives are worried about difficult times. They talked about how the global financial crisis has affected their investment portfolios. They are all asking the question on what action should they take. The future seems to look for grim. Difficult times have gripped even the closest of my family members. It seems that there is no end to the deluge of bad … [Read more...]