Monday, October 6, 2008

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Singapore Economic Outlook: Worst crisis since the 1930's

I'm just going to comment on a few excerpts from the report:
Oct 6, 2008 Expect longer slowdown

Growth is slowing in the US, Europe, Japan, and even China and India, he noted. 'So globally the economy is slowing down. This is a fact we cannot escape.'

In tandem, unemployment is expected to increase.

Exuding confidence about the country's strong fundamentals, he told Singaporeans to keep their eye on the medium- to long-term future, as the short-term problems can be dealt with.

Politicians speeches' tend to be baised towards the positive. It wasn't so long ago that Bush, Bernanke and Paulson were reassuring Americans that economic 'fundamentals' were strong. Yet now they are warning of financial armageddon and that they are facing the worst crisis since 1930's.

How big is this going to get? You have to read between the lines... we can't escape, longer downturn, unemployment expected to increase, growth may dip below forecast, we have the reserves to provide relief measures...

Why battle down the hatches, unless they see a storm coming? I don't think you can expect the worst crisis since the 1930's to be anything mild.

Posted by anonymous in the Singapore Property Forum.

May also want to read:
History of Singapore Property 1960 to 2008
HDB Resale flats Price Index 1990-2008: Graph & Chart
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase


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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.

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