Recession looms for Singapore : economists
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Recession looms for Singapore : economists
I can hear those that "quit" Singapore, the "quitters" laughing their assoff... you think that they might come back at pick up some bargain properties when the recession hits full-face? -
If there is recession also in where they are... they have unemployment benefits and the silliporeans here have 21% increase in electricity charges... the despots really know how to slap the silliporeans that stayed, hard in the face.
Thanks to asspuppies aka known as assangels and assdogs that support them.
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Originally posted by AndrewPKYap:
If there is recession also in where they are... they have unemployment benefits and the silliporeans here have 21% increase in electricity charges... the despots really know how to slap the silliporeans that stayed, hard in the face.
Thanks to asspuppies aka known as assangels and assdogs that support them.
hor hor...u call angels ass...later u die, angels dun care you anymore. -
our economists and politcians r way behind the curve.. we r goin to experience global stagflation if all these central banks continues to print $$ to bailout all these failing banks rather than letting the mkt correct by itself..
whole of asia including Singapore will not be spared.. we r experiencing a great demand stock and there is a big manufacturing and assets bubble created in asia... if you tink the dot com bust is bad.. this is going to be 10X worse.. and they r prolonging this painful agony...
May god bless us..
save up before its too late.. Singapore will be having -ve GDP growth and unemployment figures wil be rising in months to come... i am sure alot of ppl wil be thinking i m over-pessimisitic but its reality and we have to face it whether we like it or not..
Mark my word.. you can re-visit this reply 3-5mths from now and you can see wat i said will materialise.. dun believe wat the politicians say.. go back and see what the ministers and scholars had said months before abt decoupling of singapore/asia from US and sustainable growth etc... and look wat is happening now..
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Originally posted by Poh Ah Pak:
What sort of fucking logic is that?
Bigger population can solve recession?
This type of fucking logic, our neighours like Indonesia, Philippines all very wealthly already lah.
Five million too small, than 6 million, 7 million, very fucking big?
Standard of propaganda also getting poorer and poorer in the States Times.
making a fucking fool of themselves.
What he meant by making the population bigger is that, in the event of a recession, the domestic market has to drive the economy. Generally, he means large enough local consumer demand to soak up the excessive supply.
But wait a minute, this Song falla is another FT from Sarawak. What he said is only half-truth and not all the whole truth.
For a domestic market to drive the economy during a recession there must be (1) horizontal diversity within the economy (2) vertical diversity within the economy (3) diverse consumer base. Simply increasing the population without considering these factors will not make us better off.
(1) Horizontal diversity, ie presence of primary, secondary and tertiary industries. One such country is China. For example, if the tertiary industry such as Banking and other service sectors are down, the government can relies on the primary and secondary wings.
In Singapore, we don’t have primary industry. Our manufacturing sector is sun setting and the first to suffer in a recession. If we bring in more FT, it has to be those with tertiary skill-sets.
Increase FT with tertiary skill-sets that are comparable to the locals makes no economic logic as far as stimulating domestic consumption is concerned.(2) Vertical diversity. Currently, most of our industries are small, linked or related.
Construction is not a stand-a-lone but linked to service and manufacturing. Massive infrastructure construction to stimulate the economy is getting fewer as the country gets built-up.
Newer industry such as Biotechnology is too small to stimulate other sector.
We lack economic diversity and industrial decoupling. We bring FT in the name of supplementing our skills when we should only bring them in the name of driving economic diversification and helping us kick start those economic wings that we covert but lacking.
Without strong economic diversity and industrial decoupling, bringing in more FT will only exacerbating the problem of recession, albeit on a larger scale than before.
(3) Diverse consumer base. Most Singaporean and FT have similar skill-sets such as IT, banking and broking servicing. In a recession, all will be affected in the same way.
If the locals or the FT are retrenched, all would be looking for the same type of jobs. All will be clamouring to stay afloat by tightening their belt.
What is this nonsense about increasing the FT to stimulate the economy? Except for the F1 session, will the tycoons want to settle here and stimulate our economy?
I wonder if the Song fella has agenda when he gives such swiping statement. Is he a mouthpiece of the government?
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in a simpler way, singapore population will never be big enough to be self sustaining. no way.
not unless we have natural resources. which we had none.
about the Song fellow. he can do better in malaysia not singapore.
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Originally posted by reyes:
in a simpler way, singapore population will never be big enough to be self sustaining. no way.
not unless we have natural resources. which we had none.
about the Song fellow. he can do better in malaysia not singapore.
Hike Fuller,U r absolute right my fuller, the max singapore can hold is 7 millions people, anything above that will sink us.
Shall we move our HQ to Seletar, more central to avoid sinking.
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i had already move my home into bunkers.
there got no FT, FW that can sometime talk so loud, it make my migraine condition worse.
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Originally posted by angel7030:
Hike Fuller,U r absolute right my fuller, the max singapore can hold is 7 millions people, anything above that will sink us.
Shall we move our HQ to Seletar, more central to avoid sinking.
where u learn ger man arh? -
Originally posted by reyes:
i had already move my home into bunkers.
there got no FT, FW that can sometime talk so loud, it make my migraine condition worse.
hope we not making too much noise here for you?. -
Originally posted by 4sg:
where u learn ger man arh?
From german gas station -
Originally posted by reyes:
i had already move my home into bunkers.
there got no FT, FW that can sometime talk so loud, it make my migraine condition worse.
Hike fuller,I will see that everything will be arranged, your beautiful scretary will be waiting for you.
Dun worry my fuller, Berlin will never be bomb.
I shall call the mobile toilet for you.
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Originally posted by angel7030:
Hike fuller,I will see that everything will be arranged, your beautiful scretary will be waiting for you.
Dun worry my fuller, Berlin will never be bomb.
I shall call the mobile toilet for you.
miss beautiful screwtary
wat the mobile toilet got to do with his migraine
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That's the calibre of PAP lackeys. How to gain favour from their master?
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Independent reporting by Nanyang Chronicle, unlike any SPH articles.NTU economists predict slow GDP growth and oil prices to stabilise at US$80-100 a barrel
Nanyang Chronicle - BE PREPARED to tighten your purse-strings, as Singapore’s economic growth is expected to slow in the wake of the Wall Street meltdown and US housing crisis, according to the latest forecast from NTU’s Economic Growth Centre.
The university’s economists expect the 2008 Gross Domestic Product (GDP) growth to come in at the lower end of the government’s 4-5% growth forecast. However, the expected GDP growth could drop “subject to further (negative) risks such as a US recession,” said Dr Choy Keen Meng, and added that this would affect Singapore’s export-centered economy.
“The model I used for the Singapore economy forecasts has got multiple equations that take into account… relationships between key… variables of the economy such as GDP growth, inflation, foreign demand, the exchange rate, etc,” said Dr Choy, who has been forecasting Singapore’s economy since his days as an economist at the Monetary Authority of Singapore in 1988.
With a falling GDP, the man on the street is likely to suffer reduced wages and stiff competition in the job sector.
University economist Dr Randolph Tan who specialises in econometrics, a study combining economic theory and statistical methods said: “Our forecasts for the jobs market (are) a negative one in line with our economic forecasts.”
“The main thing I feel will determine the overall economic environment and the extent of jobs losses in Singapore is the speed with which the final resolution of this U.S. financial crisis can result in a recovery of sentiment,” said Dr Tan, who believes the USD700 billion bailout plan will do the trick..
The slump here in Singapore will only be felt in late 2008 and early 2009, said Dr Choy, as the crisis is occurring on a global scale.
On the other hand, there is a bright spark among the bad news, said Dr Choy. People can look forward to falling prices and higher real wages next year, as the inflation rate is expected to plummet sharply to 3%. Due to slowing economic growth and subsiding price pressures for oil and commodity, “households don’t need to worry about further rises in prices,” he said.
Volatile oil prices are expected to stabilize between US$80-100 a barrel, good news for those who drive. Many people were speculating that oil prices would go up so they bought more oil in the past, driving up its price explained Dr. Choy. However, in his view, the current economic crisis has left everyone pessimistic and eliminated the speculative element.
“Why should oil prices increase when all economies are growing at a slower rate and might even go into recession,” he said.
However, OCBC mobile banker Amber Tan, 22, is doubtful as consumers stand to lose “if their rate of pay increment falls substantially lower than the actual rate of inflation.”
combining economic theory and statistical methods, said: “Our forecasts for the jobs market (are) a negative one in line with our economic forecasts.
“The main thing I feel will determine the overall economic environment and the extent of jobs losses in Singapore is the speed with which the final resolution of this US financial crisis can result in a recovery of sentiment,” said Dr Tan, who believes the US$700 billion bailout plan will do the trick.
The slump here in Singapore will only be felt in late 2008 and early 2009, said Dr Choy, as the crisis is occurring on a global scale.
On the other hand, there is a bright spark among the bad news, said Dr Choy. People can look forward to falling prices and higher real wages next year, as the inflation rate is expected to plummet sharply to 3 per cent. Due to slowing economic growth and subsiding price pressures for oil and commodity, “households don’t need to worry about further rises in prices,” he said.
Volatile oil prices are expected to stabilise between US$80-100 a barrel, good news for those who drive. Many people were speculating that oil prices would go up so they bought more oil in the past, driving up its price explained Dr. Choy. However, in his view, the current economic crisis has left everyone pessimistic and eliminated the speculative element.
“Why should oil prices increase when all economies are growing at a slower rate and might even go into recession,” he said.
However, OCBC mobile banker Amber Tan, 22, is doubtful as consumers stand to lose “if their rate of pay increment falls substantially lower than the actual rate of inflation.”
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Originally posted by kramnave:
If you are farked you are farked, don't need to confirm.
Not really, I still like to hear it from the horse's mouth, so-to-speak. hee hee.Our highly paid minister must be very the best reliable source. That why I hope to hear him announce on TV to let the public know is spore going into Recession or not or when ? Hopefully he says more good years, then I reassured everything is ok. 'cos words coming from such a great man of talent must be no lie. a very honest man. Lets hear it.
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Originally posted by likedatosocan:
Not really, I still like to hear it from the horse's mouth, so-to-speak. hee hee.Our highly paid minister must be very the best reliable source. That why I hope to hear him announce on TV to let the public know is spore going into Recession or not or when ? Hopefully he says more good years, then I reassured everything is ok. 'cos words coming from such a great man of talent must be no lie. a very honest man. Lets hear it.
Goodness nearly fall off my chair laughing...
I tink he nono also la... cannot anyhow say... mus protect backside
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Originally posted by whiskers:
Goodness nearly fall off my chair laughing...
I tink he nono also la... cannot anyhow say... mus protect backside
hey dude, dun like dat leh, dun sabo me leh. As i said, its a so-to-speak, aka figure of speech. gimme a break leh. I scared like shiit man. -
Originally posted by likedatosocan:
hey dude, dun like dat leh, dun sabo me leh. As i said, its a so-to-speak, aka figure of speech. gimme a break leh. I scared like shiit man.I tink u very creative la.. use animals in your stories.. nth wrong mah... Like machaim write a story book for children liddat...
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Originally posted by whiskers:
I tink u very creative la.. use animals in your stories.. nth wrong mah... Like machaim write a story book for children liddat...
I can only say thank you, many many. -
Originally posted by likedatosocan:
Not really, I still like to hear it from the horse's mouth, so-to-speak. hee hee.Our highly paid minister must be very the best reliable source. That why I hope to hear him announce on TV to let the public know is spore going into Recession or not or when ? Hopefully he says more good years, then I reassured everything is ok. 'cos words coming from such a great man of talent must be no lie. a very honest man. Lets hear it.
WAHAHAHA..... some ppl can only be used as pawns in a chess set......
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What if its a global economic collapse?
What then?
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u guys don't sound worried
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Originally posted by dumbdumb!:
u guys don't sound worried
...because we expected it from a really long time ago...
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Originally posted by 4sg:
What he meant by making the population bigger is that, in the event of a recession, the domestic market has to drive the economy. Generally, he means large enough local consumer demand to soak up the excessive supply.
But wait a minute, this Song falla is another FT from Sarawak. What he said is only half-truth and not all the whole truth.
For a domestic market to drive the economy during a recession there must be (1) horizontal diversity within the economy (2) vertical diversity within the economy (3) diverse consumer base. Simply increasing the population without considering these factors will not make us better off.
(1) Horizontal diversity, ie presence of primary, secondary and tertiary industries. One such country is China. For example, if the tertiary industry such as Banking and other service sectors are down, the government can relies on the primary and secondary wings.
In Singapore, we don’t have primary industry. Our manufacturing sector is sun setting and the first to suffer in a recession. If we bring in more FT, it has to be those with tertiary skill-sets.
Increase FT with tertiary skill-sets that are comparable to the locals makes no economic logic as far as stimulating domestic consumption is concerned.(2) Vertical diversity. Currently, most of our industries are small, linked or related.
Construction is not a stand-a-lone but linked to service and manufacturing. Massive infrastructure construction to stimulate the economy is getting fewer as the country gets built-up.
Newer industry such as Biotechnology is too small to stimulate other sector.
We lack economic diversity and industrial decoupling. We bring FT in the name of supplementing our skills when we should only bring them in the name of driving economic diversification and helping us kick start those economic wings that we covert but lacking.
Without strong economic diversity and industrial decoupling, bringing in more FT will only exacerbating the problem of recession, albeit on a larger scale than before.
(3) Diverse consumer base. Most Singaporean and FT have similar skill-sets such as IT, banking and broking servicing. In a recession, all will be affected in the same way.
If the locals or the FT are retrenched, all would be looking for the same type of jobs. All will be clamouring to stay afloat by tightening their belt.
What is this nonsense about increasing the FT to stimulate the economy? Except for the F1 session, will the tycoons want to settle here and stimulate our economy?
I wonder if the Song fella has agenda when he gives such swiping statement. Is he a mouthpiece of the government?
Great observation.
Singapore lack the critical mass for economies of scale - even for the sake of security, where there is lack of depth in defense towards any aggression and require us to dictate an alternative defense posture.
This weakness in size had LKY worked feverishly to create an opportunity to be independent from Colonial Rule, as the British were willing to give independence to the Federation of Malaya, and keeping Singapore as a Jewel that is too precious to be given up.
It was LKY's idea in creating Malaysia consisting the Federal States of Malaya, merged with the British Colonies of Sarawak, Sabah and Singapore - so as to secure Singapore's independence without upsetting the sensitve racial numbers that exist in the Federal States.
All this scheming was done to achieve LKY's ambitious plans for an independent Singapore with the pooling of manpower and resources in larger setting.
Unfortunately, a young LKY could not contain himself in the politics of the 1960s, and resulted in the constant friction that resulted in Singapore being kicked out of the Federation of Malaysia.
This Song fella could be given the benefit of speaking his mind on a personal basis, but perhaps done so without giving time for a wider and deeper analysis - during an on-the-spot interview.