What is this ex-despot trying to say?
-
GIC Says Global Recession May Be Worst in 30 Years (Update3)
By Yoolim Lee and Liza Lin
April 21 (Bloomberg) -- Government of Singapore Investment Corp., the sovereign fund that has invested about $18 billion in UBS AG and Citigroup Inc. since December, said the world economy may be headed for its worst recession in three decades.
``We could be facing a recession which is longer, deeper and wider than any recession that we have encountered in the last 30 years,'' Tony Tan, deputy chairman of GIC, as the company is known, said in a speech to more than 500 employees in Singapore today.
Tan said GIC, which oversees more than $100 billion, faces its ``most challenging years'' since being founded 27 years ago, as the global supply of credit contracts. His remarks come as the fund considers investing more in UBS, which is reeling from $38 billion of writedowns.
-
Singaporeans hard earned money they took from outrages HDB prices, COE, ERP, and what nots lost to foreigners???!!!
...
-
2% GST increase to help the poor or for despotic daughter-in-law to squander to the "poor" foreigners?
.....
-
Just goes to show how lucky those "quitters" were.... to leave a country that was and is run by despots.....
...
-
Only Dr Chee is willing to expose the despots for what they are at great cost to himself instead of being driven out like the rest of the persecuted...
-
as long as singaporeans continue to turn a blind eye when they persecute fellow Singaporeans "as long as it is not me", sooner or later, not just their hard earned money but the country will be offered on a silver platter to foreigners as long as they can continue to take public money as they like...
-
what are your views of UBS just before the november period? Means moving in to buy UBS stocks at around October.
-
If he is right and we see a deeper and wider recession not seen in 30 years, what do you think will happen to the property prices that the despots relentlessly pushed up????
Property drops by 50% and that would be just desserts for an apathetic callous people that pretended not to see when the despots persecuted JBJ, Dr Chee Soon Juan et al....
-
Wah biang, hats off to him... Throw money inside already, then now talk down market...
There goes my CPF...
-
Originally posted by Panache1976:
Wah biang, hats off to him... Throw money inside already, then now talk down market...
There goes my CPF...
sounds like your CPF is gone...i offer you $500 for whatever that you are going to potentially lose inside.
-
Originally posted by Panache1976:
Wah biang, hats off to him... Throw money inside already, then now talk down market...
There goes my CPF...
Fear not, my friend. There can always be schemes available like new CPF schemes or GST increases to pass the burden to the next generation..... -
i think those in property market will have greater impact on negative asset.
-
Does it take a genius or an idiot to state that the World will face a ''worse Global Recession'' in 30 years ?
With the ten year cycle already predicted since the 1987-88 recession, and scorned at and returning to haunt us in such regular manner in 1997-98 and 2007-08 - does it take any brilliance to predict what has already been predicted in the early 1980s ?
Telling the World that it is facing a worst fate - 30 year into the future - is as good as saying a meteorite will hitthis Globe in about 30 years, as if the erratic path of any meteor can be predictable.
If this is not another attempt by some over-paid personality hawking his self-worth to justify his continued existence within this constellation.
-
Tony Tan " gia lan ka tao ", stupid to make such a comment,
-
Titanic Shift in Global Capital Market Power
http://www.engdahl.oilgeopolitics.net/Financial_Tsunami/
Shades of 1929: the global implications of the US banking collapse
http://www.wsws.org/articles/2008/apr2008/
Shades of 1929: Bear Stearns collapse signals deepest crisis since Great Depression
http://www.wsws.org/articles/2008/mar2008/
Read too much socialist propaganda already Tony Tan.
-
Originally posted by Atobe:
Does it take a genius or an idiot to state that the World will face a ''worse Global Recession'' in 30 years ?
With the ten year cycle already predicted since the 1987-88 recession, and scorned at and returning to haunt us in such regular manner in 1997-98 and 2007-08 - does it take any brilliance to predict what has already been predicted in the early 1980s ?
Telling the World that it is facing a worst fate - 30 year into the future - is as good as saying a meteorite will hitthis Globe in about 30 years, as if the erratic path of any meteor can be predictable.
If this is not another attempt by some over-paid personality hawking his self-worth to justify his continued existence within this constellation.
The ten year cycle was exactly what prompted me to look for a job in the private sector way before I graduate. But little did I know that government jobs would pay more than private jobs for fresh graduate at the current moment... :(
-
What is the logic behind the ten year cycle?
-
uncontrolled spending....herd instincts.....etc....
-
Originally posted by Poh Ah Pak:
What is the logic behind the ten year cycle?
just a trend.
Economic theory suggests that although in the long run, the economy will improve, it will be in such a way that it follows a sinusoidal path on the upslope. Means there will be ups and downs, although the average trend is upwards
Very very past statistics show that the period of a cycle is around 10 years. But some would say it is five years nowadays.
-
Originally posted by eagle:
what are your views of UBS just before the november period? Means moving in to buy UBS stocks at around October.
if these super banks can lose so much money this time round, there's no gurantee that they won't lose money on such a grand scale again.and if that happens, it would be OUR $$$ which would be flying away.
rmb bear stearns, bear-ish indeed, from hero to zero in weeks. they ended up almost bankrupt, with their shares going for pennies.
it must indeed be such a "wise" decision for GIC to pump so much money into such "impressive" companies. wise indeed.
-
Originally posted by deathmaster:
if these super banks can lose so much money this time round, there's no gurantee that they won't lose money on such a grand scale again.and if that happens, it would be OUR $$$ which would be flying away.
rmb bear stearns, bear-ish indeed, from hero to zero in weeks. they ended up almost bankrupt, with their shares going for pennies.
it must indeed be such a "wise" decision for GIC to pump so much money into such "impressive" companies. wise indeed.
My guess is GIC pumps in money so they can continue to survive this time round. Then when the economy picks up again, the share price will raise again. Just my 2 cents... Opinions very welcomed because I want to learn more about this area too.
-
Originally posted by eagle:
My guess is GIC pumps in money so they can continue to survive this time round. Then when the economy picks up again, the share price will raise again. Just my 2 cents... Opinions very welcomed because I want to learn more about this area too.
How, do you think Nick Leeson and Jerome Kerviel of Société Générale lost so much money? Only stupid people do that.... buy and keep buying in a downtrend....
They buy, it drops, they buy some more and it drops somemore... pump in more money into UBS and it breaks up.... then?
You expect Shin Corp share prices to rebound?
S$6 billion of Singaporeans blood and sweat money is sitting pretty with the Thais.... and S$3 billion of that money is lost to them.... -
Who should be responsible to the Shin Corp debacle ???
-
They are good at covering up their ass, the PAP regime.
Mainstream media also worthless, help them to play down the cock ups.
Time to go PAP.
Time to fuck off.
-
in order for pap to fuck off, 20% of the 66.6% pro pap voters must vote for opposition, if not LP PL