Inflation coming to hit us hard.

[Scion]

https://www.channelnewsasia.com/business/global-recession-coming-what-does-mean-singapore-2664976

“Inflation will remain high. Central banks in the developed countries are tightening their monetary policies, raising interest rates. Global growth will be weaker,” he said at the annual May Day Rally.

“The era of zero or very low interest rates is over,” said OCBC Bank’s chief economist Selena Ling.

Maybank economist Chua Hak Bin said the probability of a recession in Singapore over the next 12 months is only about 6 per cent.

Dr Chua added: “We don’t think China’s strict lockdowns or the Ukraine-Russia war is sufficient as a shock to produce a recession in Singapore. An overly aggressive Fed bent on killing inflation may, however, lead to a US recession sometime in 2023 to 2024.”

[Sosaria]

2 hours ago, Volvobrick said:

It is a pyramid - a few may get 10K, the rest will be displaced by people in the 30's willing to do the same thing for less!  Younger, stronger, faster, cheaper!  

That's how it works. Try to be in that category that earn 10k, but point to note is that in today's economy, it does not need to come from only one job. Always build skills that allow you to sideline and get another income stream. Even grab is good.

[Throttle2]

17 hours ago, Sosaria said:

That's how it works. Try to be in that category that earn 10k, but point to note is that in today's economy, it does not need to come from only one job. Always build skills that allow you to sideline and get another income stream. Even grab is good.

Yes, i wonder what sideline i can do.   I think may soon get chopped….🥹😓

[Mustank]

19 hours ago, Scion said:

https://www.channelnewsasia.com/business/global-recession-coming-what-does-mean-singapore-2664976

“Inflation will remain high. Central banks in the developed countries are tightening their monetary policies, raising interest rates. Global growth will be weaker,” he said at the annual May Day Rally.

“The era of zero or very low interest rates is over,” said OCBC Bank’s chief economist Selena Ling.

Maybank economist Chua Hak Bin said the probability of a recession in Singapore over the next 12 months is only about 6 per cent.

Dr Chua added: “We don’t think China’s strict lockdowns or the Ukraine-Russia war is sufficient as a shock to produce a recession in Singapore. An overly aggressive Fed bent on killing inflation may, however, lead to a US recession sometime in 2023 to 2024.”

Here all full cash 🤪

[inlinesix]

39 minutes ago, Mustank said:

Here all full cash 🤪

Cash devalued fastest now

[Mustank]

20 minutes ago, inlinesix said:

Cash devalued fastest now

Heng I top up CPF 💪

[inlinesix]

Just now, Mustank said:

Heng I top up CPF 💪

CPF also cash

[Mkl22]

14 minutes ago, inlinesix said:

CPF also cash

cannot touch how to call it cash......

[Mustank]

Just now, Mkl22 said:

cannot touch how to call it cash......

After 55 is cash lah

[Jamesc]

The reason we have high inflation is because many people bought outrageously priced homes that they cannot afford.

When interest rates are at near zero the monthly mortgage of say 1,800 to 2,600 was very comfortable for 2 parents working.

But because of inflation central bankers are raising interest rate and when their mortgage is now 3,800 to 4,700 its still manageable.

If both are working but if one or both are retrenched or have to take a pay cut then its a bit of a problem.

But the real problem is when they have to pay 4,700 a month they will cut down on things like holidays and eating out or branded clothes and bags.

Now this means the poor restaurant owners will see less business and spend less himself and maybe even retrench his staff.

Now more people taking pay cuts and losing their jobs means more people not being able to pay their mortgage and bank foreclosing and a fire sale on property.

This fire sales on property and cars and stocks will lead to a recession and deflation just like Japan.

Too many years of zero interest rates has balloon this debt and super inflated property and stock markets

and now is the time we will see the chickens come home to roost.   

Edited May 6, 2022 by Jamesc

[Jamesc]

All because people bought super expensive homes and paid 100k just for the COE without batting an eye lid.

This is is not a problem for prudent and wise customers who bought a good quality used car at affordable prices from the one with the bad bad MIL.

 

Edited May 6, 2022 by Jamesc

[Sosaria]

3 hours ago, Throttle2 said:

Yes, i wonder what sideline i can do.   I think may soon get chopped….🥹😓

Get chopped can be good. Force us to take action. Rather than some people around you get chopped or leave, then left you having to shoulder an impossible burden and stress remaining in the company

Better to take my "get chopped" benefits and go. When you still have a job, no matter how sh*tty it is, you get all sorts of people, especially well-meaning family members and relatives telling you to 'tahan' and hang in there. Please lah, chop me is better. At least there is a finality and to me, in this position in life now, may be a good outcome for mental health.

In SG, no need to fear starving, there are so many ways to earn money.

[Mustank]

3 minutes ago, Jamesc said:

The reason we have high inflation is because many people bought outrageously priced homes that they cannot afford.

When interest rates are at near zero the monthly mortgage of say 1,800 to 2,600 was very comfortable for 2 parents working.

But because of inflation central bankers are raising interest rate and when their mortgage is now 3,800 to 4,700 its still manageable.

If both are working but if one or both are retrenched or have to take a pay cut then its a bit of a problem.

But the real problem is when they have to pay 4,700 a month they will cut down on things like holidays and eating out or branded clothes and bags.

Now this means the poor restaurant owners will see less business and spend less himself and maybe even retrench his staff.

Now more people taking pay cuts and losing their jobs means more people not being able to pay their mortgage and bank foreclosing and a fire sale on property.

This fire sales on property and cars and stocks will lead to a recession and deflation just like Japan.

Too many years of zero interest rates has balloon this debt and super inflated property and stock markets

and now is the time we will see the chickens come home to roost.   

People already buy 5 year fixed rate Liao 

[Jamesc]

7 minutes ago, Mustank said:

People already buy 5 year fixed rate Liao 

This is how bankers will do it.

You took a mortgage for for 1.5m.

Now the flat is worth only 1.3m because of deflation.

They ask you top up cash 200k.

At this time many people took a pay cut or lost their jobs

so they don't have 200k burning a hole in their back pocket.

Nice banker says never mind lah just remortgage at the new rate!

 

[Mustank]

https://m.facebook.com/chinaplusamerica/videos/717591852420104

free food! 

🤪

[Throttle2]

16 minutes ago, Sosaria said:

Get chopped can be good. Force us to take action. Rather than some people around you get chopped or leave, then left you having to shoulder an impossible burden and stress remaining in the company

Better to take my "get chopped" benefits and go. When you still have a job, no matter how sh*tty it is, you get all sorts of people, especially well-meaning family members and relatives telling you to 'tahan' and hang in there. Please lah, chop me is better. At least there is a finality and to me, in this position in life now, may be a good outcome for mental health.

In SG, no need to fear starving, there are so many ways to earn money.

I fully agree.  👍👍👌👌

[Jamesc]

Always remember the nice people that gave us fixed electricity rates at super low prices for 3 years.

They not here now and people had to re rate at the nice new high prices.

[Jamesc]

1 minute ago, Mustank said:

https://m.facebook.com/chinaplusamerica/videos/717591852420104

free food! 

🤪

Think outside the box.

Make tortoise soup lah.