That’s nice. I just read Dow 30 got hammered. And Euro stocks are again slammed left and right. And, we now hear the Super committee is going to be a failure. And, our Singapore economy is going to register growth of between 1 and 3% next year. The Straits Times reported job lost is going to be likely next year. May or may not be a repeat of 2007/8; but nonetheless, we are talking about it.
We talk alot about our activities and our social lives. Let’s share some talk about the world around us or the Singapore we have here. What do you think? And how do you feel about the year end and next year.
Terence Seah
Ladies, don’t wait for the men. And men, don’t wait for the ladies. Usually topics about the world or anything outside our 4 walls seem to get less comments from the ladies. Well, let’s see who will speak up or have some comments about the world around us.
Terence Seah
Well Terence, there is no need to ‘provoke’ we women to speak on issues that are ‘supposedly’ a man’s domain for fear of being shot down by the experts.
Anyone reading the news knows the gloomy picture of the European issue which will drag us down in 2012.
Over here, it’s predicted we will not be spared next year though we have managed to avoid recession this year. How bad? Fingers crossed.
Property prices have dropped but it’s still unaffordable; HK being extremely expensive – accommodation wise.
We are still fine with the Mainlanders contributing by spending obscene amounts buying the C’s, G’s etc and of course properties but property buying has sooooo dipped thus far.
Hopefully, fairy gawdmother (no, no, not you, whisky fairy, what with your new 2012 look with a pen-sized wand, gosh, though I love the diamond tiara) will pull us through. I am talking about China.
Perhaps it’s time to talk to the farmer offering sweet potatoes and John Howe’s grape juice.
Repent. The end is near !!!!
To weather next year’s inhospitable economic climate – for the ‘not-so-rich’, apply common sense and be flexible:
i.change mindset: Reduce ‘wants’. Be satisfied with less.
2.be thrifty: enjoy a simple lifestyle
3.stop worship of consumerism
4.if investing, be prepared for burnt fingers. No sympathy here.
5.keep cool. Buy spiritual insurance by doing some charity.
However, for the Rich –
1. Spend! Keep the weak economy ‘humming’
2. Be generous. Help revive weak economy.
3. Help the weak & the needy. Grab chance to do charity.
Govt is doing its part to keep jobs. We support by doing our part. No blaming other parties for personal dissatisfaction.
…a personal opinion and 2-ct worth… :)
Thanks Geraldine Ting and Jassmine Teo to the ladies’ rescue. Like both comments.
So the draw is 2-1 now…
US and Euro debts can be solved by their people… the debt probably is only less than 10% of all the wealth of the rich – peanuts
It is not as bad as we see and hear… we would have seen the worst in share price over the last 2 months
I am not advocating to rush to buy now…but hold if you can…don’t sell cheap (we may be at the lowest in term of valuation ) Fear factor is high now…
What we need fear is fear itself.
Whether it is in an ‘up’ or ‘down’ economy, Singaporeans of either gender with the acumen for business will be able to smell out good business deals and make tidy profits. While the fearful, especially new entrants in the stock markets, are prepared to dump shares at a loss in order not to lose more down the road, the enterprising feed on their fears by buying up underpriced shares to turn them into profit when the time is ripe. He who dared, wins.
Even in a recession, our 4D outlets, local casinos, hospitality parks(RWS’ Universal Studios) and cinemas would continue to make healthy revenues as expected. Let’s not be unduly worrisome over a recession that has not knocked on Singapore’s door yet.
And for those still working, as long as they continue to put in excellent service pleasing to their superiors, chances are: they will continue to work beyond their retirement age on regular salary or on contract extension.
Hi June
Glad that you like both comments.
Can’t stand that whisky drinking thingy who thinks we women in this club are only good at gossiping, backstabbing, grabbing (puke) any eligible or not eligible (kekekekee) men, comparing the size of our tits and diamonds and our popularity. Geesh. Hadda show him.
Am wondering are you the same June I met at the Batam trip and the Cabaret Nite (calling yourself 13-dot)?
Pardon me if you are not.
Hi Jassmine and Christina
Thanks for sharing.
Well put.
Hey TS
Is this the best you can do?
There goes my sweet potatoes.
I kept my comments short because we are looking forward to hear from more ladies.
There is no point ‘comparing the size of your tits’. It will be like the world economy now……moving south. The only question is, would it come up over time?
Ahhh TS,
Tell those women who are busy comparing whatnots, full of jealousy and trying desperately to outshine others.
Your question “Would it come up over time?” The tits? Absolutely not, unlike the world economy which is cyclical.
The reason why many have not participated in this post is probably the question is vague. I don’t quite understand the question at first.
The question should be in 2 parts
1. What will happen to the Singapore economy (end of this year and/or next year)?
2. What are the reasons ?
Lumping them together makes it difficult to answer, unless of course many assumptions are made.
Anyway, I am quite heartened by the response from some of the ladies. Indeed, some women among us can analyse and articulate well. Would certainly wish to converse with them. However I believe we can hear more opinions (from gentlemen and ladies alike) if the question is phrased properly.
For a start, let me answer my own 2 questions
1. The economy is going to be bad, bleak, gloomy…and whatever negative adjectives we can think of.
2. The reasons are plenty and varied. The main reason is our location. When times are good, we are in an excellent geographical position. We are at the cross-road. When times are bad, we are at the cross-fire. When the eagle and the dragon fight for image, glory and survival, the “courtesy-lion” has nothing to crow about and probably nothing much to chew.
Whatever the economy is going to be, we still have to carry on living and accepting what’s the outcome. We cannot blame here and there, but to see what is best for ourselves. The situation can never be worst than in 2008 so why make yourself worry so much. Life still has to move on.
We have to work to strive for a better tomorrow and those who want to take some challenge for opportunity to make some money, this is the right time you should look into some counters in the share market which you can buy low and keep for the right moment to move up to release your shares to exchange for the profits.
News are generated with facts and figures to boost the market and to give you some “images” of what the situations will be like but not all are bad news after all. What’s more worrying is what will happen should the world collapse ? Are we ready or just leave it to decide ? Are you prepared ?
Geraldine #8
No, I am not the June you have met at Batam. For that June to call herself 13 dots (????) whom I believes should be a pleasant and jovial lady.
Hi June
Thank you for the prompt reply.
Yes, the other June (I hope I even have the name correct, gosh) is indeed a pleasant and jovial lady who was kind to me.
Hope I get to meet you one of these days.
Yes Daniel, Terence has this annoying habbit of making things cryptic that gets on my nerves but I am soooo used to his tactic that I am beginning to think like him. Choy!
When he sees us tearing our hair out, he happily grins……mission accomplished.
Then again, he may be under certain influence or just plain old andropause that he simply lumps everything together, hoping we’ll understand.
Like the way you ‘answered your own 2 questions’. Kekekekeee.
Maybe I worry too much or think too much, Geraldine. But fact is the world issues are no small matter. It may be out of our control. Since there are many experienced and knowledge people in SHC, I love to hear what other people think.
You gave your shot on HK, and it’s comforting to know that HK people are happy to hear more mainland Chinese coming over to the island. That’s a relief.
Danny Lye seems to have look forther down the route. What if the world goes the other way round? Errhh, I would be worried too.
I agree with Daniel, as he is someone who has offered views which are systematic and clear. I thought I was clear in my Post, but nevertheless we have Daniel who thinks my post is not clear enough. That’s it, another observation, but nevertheless he has offered his viewpoint on the world and Singapore too.
Terry Tang gives his wisdom words. So that’s again another view point.
Reading Jassmine’s view, she is quite comfortable, and see that our government will do a good job to take care of the citizsens.
Christina Pan, from another perspective, advocates “Don’t sell cheap”. That’s consoling especially to those who have bought and wondering if they should get out. Luckily I dont have any more pieces of paper to hold on to.
I always like Tian Soo’s view. He has seen it all. I wish I can think like him, although I would have blown myself to the moon, if I were as calm as him. So, you see this is another SHC thinking.
So Geraldine and everybody, I am not being cryptic. I like to hear different points of view. This way we share and learn too. Next year will affect many SilverHairs in Singapore, except Good Tian Soo.
Terence Seah
Danny Lye #14: “the situation can never be worst than in 2008 so why make yourself worry so much”. I don’t agree with this view.
In 2008, the crisis was due to the fault in the banking system. The Governments of the countries can help. That is why the share market can recover so soon from Mar 2009 to Apr 2010.
This time, the crisis is on countries level, the USA, the Eurozone, or may be China (who know), who go to help?
This year, to the mid of next year, the situation may not be too bad (just as the start of the sub-prime), as the people still have a very strong hope the economy can be recovered. Whatever the concerned parties (the government of the countries) done, it will trigger the equity market (not the economy).
But I view all they do is just buying time, and not the real solution (I think not a single man or woman in this world can give a solution in this moment)and the situation become worse every time (after the Greece, now is the Italy). The situation will drag….. If there is no real improvement and the people lose hope, then the world will be as TS said “Repent. The end is near !!!!”
Hope the ?????? after the fire.
will be attending SGX INVESTOR DAY 2011 on 26 nov in the morning at Marina Bay Sands and TALK BY WALL STREET Guru in the afternoon at YMCA.
Shall see what the experts say about 2012?
On the world front, we have the U.S. admission of their debt-deal failure, and Europe’s worsening debt situation. With the addition of Italy’s debt, and if Italy’s currency collapses, the Euro is bound to follow suit.
Singapore is forecasted to grow 1% to 3% in 2012 due to the above uncertainty & financial violatility. The latest, our government is concerned about structural unemployment, specially for low-wage workers and PMEs. Generally, workers should realistically expect smaller bonuses and lower pay increments.
It is predicted the local festive buying will still go on, with people indulging in buying for Christmas and New Year. But the retail sales growth will be less than last year’s 20 to 25%. It should read 10% to 15% this year end.
On a personal level, I am blessed to be bucking the trend of going south, with a new portfolio and more attractive employment package for 2012.
LS
Danny Lye #14
Andrew Yeung #19
Lydia Soh #21
Thank you for enlightening. At least SHC is blessed with various blend of economists to share with SHCians.
When we care we share. When thou don’t share don’t despair.
EL
Hi Terence,
When a) the Dow got hammered and b) the Eurostock got slammed, the consensus is the Spore economy is going to register 1 – 3 % growth and job lost is likely.
What is likely to happen to Singapore depends on at which point of time did we realise something was amissed before a) and b) happened?
If:
1)Singapore ie the Singapore leaders saw the a) and b) already looming very early in time, then I think the impact will not be too serious because rescue plans are probably already brainstormed long before a) and b) strike and when a) and b) finally happened, we are all prepared. Having said that, the growth rate of Spore will still be inevitably compromised but at least to a lesser extent.
2) However, if our Singapore leaders are sleeping in the back benches, then we, the citizens of Spore do what we do best: COMPLAIN
Chrissa TAN #20
“will be attending SGX INVESTOR DAY 2011 on 26 nov in the morning at Marina Bay Sands and TALK BY WALL STREET Guru in the afternoon at YMCA.
Shall see what the experts say about 2012?”
Hi Chrissa,
We met at the Tang Yuan – Reunion at Anchorvale CC? So how is the talk. If not convenient to talk here, can communicate via email to june.choo@yahoo.com.sg?
HI Friends
Don’t worry be happy. Why? Cause my take is we’re living in one of the very well-run places in the world, never mind the recent hiccups regarding housing and transportation which is chiefly due to the govt’s longtime obsession of keeping the Spore car speeding consistently at 200kmh.
Nearly all foreigners love Spore. For the rich it is the safety and orderliness which meant their females can walk along main road Geylang and Orchard Rd at midnight. For their money, the stable Spore Dollar has been “Buy Spore” since the mid’09. My take is the foreign Rich are not so concerned on making money in their investments as from the protection the Spore currency provides for it is likely by2015, the Spore dollar is worth more than 2.50Ringgit(now-2.40Rgt), 7,500Rupiahs(6,900rph), 35Pesos(30pesos), 30Rupees(26Rps) and if I am a foreigner who maintain the keeping of equivalent one million Spore dollars in my home country and by 2015 if the currency devaluation is just 3% against the Spore dollar, I would have lost Spore $30,000.
The Reality is the Spore govt saves rather than spend and one of their mantras is Be Frugal. I have travelled numerous times to Malaysia and Indonesia and I have come to the conclusion that one ethnic race say 30 out of a 100 tend to save whilst comparatively another ethnic race is less than 10 out of 100 are savers.
Merry Christmas and a Fair 2012.
Regards
Abel Tan
Hi EL
I know not much about economy and lazy to write, so I seldom write on this web.
But due to your C#22, I want to write more this time to show that I care, haha
I don’t talk about Singapore’s economy, because I don’t know. But I always view Singapore as a fox (or a dog), it has to serve his master – a tiger. If the tiger is strong and fierce, the fox also can be majestic, but how about the tiger is sick now?
Actually, Singapore always will gain more than loss during a crisis. In 1997 and 1998, when a fall in the value of the Thai baht sparked turmoil that hit Indonesia, Malaysia, the Philippines and South Korea hard. The contagion spread as far as Russia and Brazil. Singapore economy also affected (STI fall from 25xx to below 1000). But as the USA and Europe economy still strong, and among the ASEAN countries, it affected the less, it recovered much faster than the other ASEAN countries. So I consider its gain is more than its loss in this crisis.
In 2001 to 2003, although there was Planes hijacked by terrorists and crashed into New York’s World Trade Centre on Sept 11 2001 and the the Severe Acute Respiratory Syndrome (Sars) epidemic struck on 2003, the economy of USA and Europe still strong and the raise of the China economy. Singapore not affected much.
In 2008 to 2009, initiated by the Sub-prime crisis, and then proceed to the collapse of the whole financial system of the USA and the whole world. This time Singapore has really taste the bullet. Luckily China is not affect that much (in that time, China already become the tiger of Singapore) due and the rescue plan of the major countries, the world economy recovered very fast (as shown from the equity market from Mar 2009 to Apr 2010). Singapore as well as most of the ASEAN also recovered with the step. This time, I viewed Singapore is no gain and no loss if compare to the other ASEAN countries.
This time, the crisis is triggered by USA and Eurozone. The countries remain strong in economy in the Eurozone are France and Germany (with growth rate of 2011 in 1.xx%). China becomes the biggest hope of the world.
It seems that the USA government don’t have any solution (printing more money has no effect but worsen the world’s economy). Eurozone seems to do much more – The lending capacity of EFSF extended from 4xx billion to 1000 billion; cutting the Greece debt etc. It really has done more, but not go to the root of the problem. It doesn’t hasten the speed of any actions to reassure the economy, introduce reforms and formulate a credible fix to the crisis. Now is only buying time.
This time, if the crisis really come, I think Singapore will loss more than its gain when compare to other ASEAN countries. Most of the ASEAN countries, if the situation is really bad, they can close their door, tighten the belt, eat themselves to cope with the crisis. Singapore (a rich but poor man) cannot.
So hope I am wrong (usually will) or the situation can improve with the pass of time.
Thanks Andrew Y.
Very well put.
I tend to ascribe to Abel Tan’s view more than Andrew Yeung’s (sorry, my friend), for reasons quoted by the former, plus adding a few more points :
S’pore may be poor in natural resources but we have made up for it by having a well-educated workforce resulting in higher knowledge, easy trainability, and greater efficiency. What about our excellent infrastructures (which are not built overnight), don’t they make for sound business investment?
We still have a stable government, with some ‘old guards’ mentoring (specially LKY) which we can see is an epitome of real leadership – uncorrupted, able to motivate, and unfraid to make tough ‘unpopular’ decisions.
Despite the higher cost of healthcare in SIN, the HC system supersedes those of other countries (ASEAN & some developed countries) – better trained physicians, latest medical equipment, and greater accuracy in diagnosis/treatment (specially in the growing field of Oncology). Not to mention better standards of hygiene, infection control, etc. Medical tourism will continue to grow. We weren’t play with our lives, and the lives of our loved ones, right?
So my take is that Singapore, yes will be affected during 2011 end, and possibly, whole of 2012. But we will find our footing by 2013.
Just my take,
LS
Today not much work to do(should said I have no mood to work) and boss not around. So I wrote my C#26. Unexpectedly I got two surprises.
The first surprise is from TS’s compliment. Do you know the feeling for the one you respect tell you “very well put”. I seldom feel it but I feel it today. So I add bean sprouts for my chicken rice lunch to reward myself.
The second surprise is Lydia called me ‘my friend’. Do you know the feeling for the one you like calling you “my friend”. I feel this many times, and I feel it again today. Still thinking what should I take for my dinner to celebrate
Hi TS
Thanks for your compliment. Most important. a compliment from a wise man.
Hi Lydia
Don’t said sorry, everyone have their point, not necessary to agree with the others. Actually, I quite respect the ladies view, which is a habit I have nurtured when I get along with my wife for my life time. Usually she is more reasonable than me. May be I will re-look at Singapore after your comment (and may be not, as I said, I am lazy)
What a wonderful day today.
Hey Andrew
Thanks a lot for your kind words.
In your comments #26, I actually do agree with your analyses for the periods of 1997 to 1998, 2001 to 2003 and 2008 to 2009. The only part I leaned more towards Abel Tan’s view, was our forecast for the S’pore economy (end of 2011 and 2012). If you have some time, you can “re-look at Singapore” after, learning not just my comments but also other SHC members’ comments.
Andrew, you have a unique style of writing which is endearing. So what did you take for your dinner to celebrate (just curious)?
Hope to see you at our SHC Walk on 10 Dec 2011. Do come and walk with us, and I will have something for you.
Your Friend,
LS
Hi Lydia, my friend
Today is a rainy day, but is a sun shinny day for economy. More money pump to the business world, and lower cost to get the money. Hope the sun keep on shinning, and we can see more and more sunshine after 9 Dec.
Because of you, my friend, I read the C#25, 26 and 28 again (will this be me???), and I don’t find major discrepancies within our comments as it seems that we are talking two different issue.
You and Abel concentrate on Singapore’s ability. I totally agree with you that we, Singapore, has excellent infrastructure; a well-educated, well- trained and flexible workforce and a very efficiency government. These are why Singapore can recover so fast and win in the pass crises
My point (or my worry) is the crisis (the whole world) this time can be very fierce, and drag much longer than the previous one (compare with the 2008 one). In this case, we, Singapore can do little or nothing, and a nation without natural resources will face much more difficulties than those with rich natural resources (like Vietnam, a city I like very much), without mentioning some unexpected event emerge, such as protectionism.
Last night, meet a friend in China Town and meal together. We ordered 2 herbal soups, 1 pig trotter pot and 2 bowls of rice for our dinner. The soup there really very nice.
You said: “Hope to see you at our SHC Walk on 10 Dec 2011. Do come and walk with us, and I will have something for you”. Do I have any reason don’t take part? But I may be from now on until the walking day, no mood to work, not sleep well to wonder what is the “something” you have for me, haha. You no good, my friend, you no good….