a light-hearted view of a recession,,,

• salivateforme

  30 Jul 01, 16:37

  Just what is an economic crises? When the newspapers declare with an unequivocal voice: "Singapore Economy Experiences Negative Growth!", how does it affect the man on the street? By this, I am referring to the layman, of course. Those people on the MRT trains and SBS buses who meet your cheery smile with a slack-jawed expression.
  
  It is quite simple to tell the difference between an employed and an unemployed person. The employed person would be commuting between the unearthly hours of 7:30 am to 8:30 am. He or she (I would have to be politically-correct here) would be scanning the newspapers for articles that would bring a small smile to their faces. Very often, the guys will be engrossed in the rape or molest cases that occured during the weekends, whilst the ladies would be busy perusing the grocery advertisements.
  
  The unemployed would be the one standing quietly in the corner, talking to himself. He is not mad or a registered patient of Woodbridge Hospital, he is just rehearsing his lines for the upcoming interview. It is amazing how much information he can pack in a twelve-minute journey to town. (In Singapore, of course, everywhere you go takes approximately twelve minutes)
  
  Now that we have a clearer picture of the actors involved in an Economic Crises, let us get back down to business. Just what is negative growth? To understand growth, especially a country's economic growth, you have to look at it's Gross National Product. It is more affectionately known as GNP, and it refers quite simply to the total value of goods and services produced by an economy. The more buying and selling the country does, the bigger its GNP. In short, a country's GNP is also it's national income.
  
  A country like Singapore depends very heavily on its exports and imports. If exports exceed imports, we have a positive growth in GNP. When imports exceeds exports, then negative growth results. Very often, this triggers a series of falling dominoes that would ultimately lead to that mother of all dreaded words.
  
  RETRENCHMENT!
  
  Yes, retrenchment is part and parcel of an economy based on capitalist ideals. Every corporation is only willing to look out for itself. Profits mean everything, and it is this very principle that motivates many firms to retrench its workers in times of trouble. Of course, when the economy is hale and healthy, employees are expected to give a 101% to their employers. Corporate loyalty is the by-word. Unfortunately though, the formula does not seem to work in reverse. At the first sign of an economic downturn, firms start having meetings at the oddest times of the day, and supervisors begin to look at you strangely. In most cases, a light-hearted census would be taken behind managerial doors and the losers of this exercise would be irrevocably given the boot.
  
  During a recession, companies also behave in many strange and puzzling ways. The Development Bank of Singapore, for example, acquired the Hongkong-based Dao Heng Bank and placed a $9.4 billion bid to takeover the Overseas United Bank in June 2001. In that same month, the ambitious bank annouced pay cuts for all its employees, including its managers who gleefully rode the bandwagon...
  
  Would like to hear your views on the recent economic downturn...writing a new article for Pebble
  Newsletter <http://homex.coolconnect.com/member3/salivateforme/newsletter_home.htm>
  
  Cheers!
• Devil1976

  30 Jul 01, 17:06

  Originally posted by salivateforme:

  During a recession, companies also behave in many strange and puzzling ways. The Development Bank of Singapore, for example, acquired the Hongkong-based Dao Heng Bank and placed a $9.4 billion bid to takeover the Overseas United Bank in June 2001. In that same month, the ambitious bank annouced pay cuts for all its employees, including its managers who gleefully rode the bandwagon...
  
  Would like to hear your views on the recent economic downturn...writing a new article for Pebble
  Newsletter <http://homex.coolconnect.com/member3/salivateforme/newsletter_home.htm>
  
  Cheers!

  The strange and puzzling behaviors are just 'survival techniques'.... An organisation is just like a LARGE living organism.... During times like these, this 'organism' would just have to cut down on its food supply requirement, in order to live a longer life OR survive the 'change of season'......
  
  ------------------
  I have no 'friends' nor 'family'.
  I hold no past and see not future...
  These are just samples of illusions....
  I don't exist, but I shall live ETERNITY..... DEVIL PHRASE II
  
  ße COOL, NOT s¢rr¥....
• domyoji33

  30 Jul 01, 19:12

  Go invest in unit trust , then next yr when economy recover , then have money liao lor. ( erm....at least another bright way to look at this recession too )