S'pore faces double dip risk (in economy)

[Jonbummer]

this is not actually new news as it was brought into attention by one UK minister

recently as well

 

i'm just wondering where is all the 'wisdom' by the people to spend wisely

judging by crazy increase rate of property prices, share prices went up and down and upUp,

and the COE just jumped 20% here

 

it is just crazy.

 

i just feel that all is not well YET with the economy at large

it will be, but meanwhile let's not be too haste and being suck into buying 'hugely inflated'

(just IMHO) product

 

companies are all announcing profits and less losses recently

it shld not be surprised to us that it is nearing end of the year, and companies need to

blurt out good news

most of the 'good news' is due to the fact of major retrenchment excerices...

 

maybe just me ranting... so here goes with the news:

 

 

from STi http://www.straitstimes.com/Breaking%2BNew...ory_427548.html

 

SINGAPORE must be prepared for the possibility of a sluggish world economy or even a 'double-dip' in 2010, Finance Minister Tharman Shanmugaratnam said on Wednesday.

 

Immediate improvements seen in the US economy and around the world were primarily due to agressive government stimulus packages and a correction in private sector inventories, he noted.

 

'We have yet to see a firm or sustainable rebound in private spending, that can underpin global economic growth in 2010 and beyond,' said Mr Tharman at the Singapore Exchange's (SGX's) 10th anniversary celebration.

 

'This is why we can only be cautiously optimistic about the next few years, globally and in Singapore,' he added.

 

A 'double dip' recession - also known as W-shaped - refers to an economy that emerges from a recession with a short period of growth, but quickly falls back into recession.

 

Singapore's gross domestic product (GDP) grew 20.7 per cent in the second quarter, signalling a rebound in the economy after four consecutive quarters of decline. Still, the government has forecasted the economy to contract by 4 to 6 per cent this year.

 

The country's financial sector is showing signs of recovery, with assets of the 20 largest fund managers in Singapore growing 23 per cent in the first half of 2009, said Mr Tharman.

 

Although overall assets for the asset management industry declined by 26 per cent to $864 billion in 2008 from a year earlier - and the corporate debt market shrank by 2 per cent to $168 billion in the same period - this held up better than the general market performance, he added.

[Nullifi3d]

Important thing is... do we still get GST credits? we're only concenred with short term benefits.

 

hahaha

[Freestylers09]

iirc ,he said Singapore wont get into recession that time and become the 1st to kana rite?

 

commodities up,gold up,everything up,

 

will Fed do anything to up the interest rate to curb inflation?it stay flat..

 

I think volatile but quite shaky overall as the pace are too fast to catch up

[Booboon]

where got recession. alot of friends already booked their oversea holiday for dec!

 

more good years ahead.