Tuesday, May 20, 2008

About this Blog

Recession or Not ?

Last week saw the media sprawled with cheering headlines:

Worst may be over for US, some economists say
Agence France-Presse
Washington, D.C., U.S.
Saturday, 17 May 2008, U.S. EDT

Fears of US recession overblown: analyst
However, its group chief economist Alan Oster felt that fears of a major US recession is overblown at present and forecast a US GDP growth of 1.2 per cent this year and 1.7 per cent next year.

Credit Crisis Ending Soon, US Property To Rebound This Year:

Deutsche Bank CEO Agence France-Presse Zurich, Switzerland Sunday, 18 May 2008, CET

Then, came the warnings:

No end in sight to market woes say Trichet, Buffett
Monday May 19, 11:36 am ET Fears of US recession overblown: analyst

Pump prices rise to new high as oil stalls
Monday May 19, 2:28 pm ET
By Adam Schreck, AP Business Writer
Oil prices pause as retail gas price sets record; Chicago, Long Island now average $4 a gallon

Forecasters see weak economy, higher unemployment
Monday May 19, 12:07 am ET By Jeannine Aversa, AP Economics Writer

Forecasters foresee weak economy, higher unemployment even if housing, credit woes ebb

Looking over these headlines, Smart Buyers should ask: Trillions of dollars have been lost in the subprime crisis and everything is ok now? Oil price has broken record and record, rising pump price is hurting Singaporeans' pocket already, what does that mean to Singapore's economy? High food price is here to stay, so what problems will come with more hungry people around?


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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)