Financial Meltdown

Since late last year, we have been bombarded with a slew of news of job cuts, credit crunch, lay-offs and financial meltdown of big institutions like banks that have been around for more than 100 years. Millions will be jobless this year as more and more companies retrench their staffs especially in USA, Europe, China, Singapore, etc. Malaysia is not spared from this punishing economic woes though the government refuse to admit that recession has come to our shores. Every day, as I read the newspapers in business section, I see more job cuts everywhere and people are getting desperate. Families with young children to feed are turning to the parish priest of our local cathedral of the Holy Spirit to share their stories in the hope of securing new employment. According to Pastor Joseph Prince, prosperous economies previously will be awakened while developing nations will rise up.