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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: smolejv@gmx.net who wrote (29024)	2/21/2003 10:16:56 AM
From: TobagoJack	Read Replies (2) \| Respond to of 74559

Hello DJ, I just had dinner with 6 friends, and here is the latest take on HK, the front line of capitalism and the citadel of free market: (a) new hires salary, at the margin, are at 50% decrease from 1997 levels; (b) former executive secretaries in financial houses are now accepting positions as admin assistant in trading companies and such; (c) former admin assistants in trading companies are accepting positions as sales clerks; (d) existing employees are accepting across the board 30% cuts; (e) believe coming civil servant cuts will likely induce massive consumption contraction, with knock-on effects on office and commercial space rental; (f) ... on to the loan books and bank profitability ... ... and so the cleansing process will proceed elsewhere in the world, except not as efficiently as Hong Kong, but as ACFlyer once said, HK's experience is not relevant;0) Oops, remember our discussions about inflation, deflation, stagnation, stagflation ... well ... Message 18610233 Chugs, Jay