2016 Recession Year? Gloom and doom 2017!

[Kangadrool]

If the insurers of your $50K also go bust how?

[Jamesc]

But there are only that many banks in Singapore. For those with more than 700k what you advise?

 

Simple open 14 accounts.

 

[lausai88]

For those with 700k and more, I suggest you keep the cash under the pillow and live frugally.

 

Rely on handouts both cheap and expensive as much as possible. As an example, you can ask your suppliers and online friends for Ritz Carlton mooncakes and Da Zhong Guo mooncakes respectively. And always eat from hawker centres and pretend you're a peasant.

 

You can always refer to @enye for advice if you aren't sure 

 

paging enye, my dear online friend...

where is my Ritz Carlton mooncakes 

[Enye]

paging enye, my dear online friend...

where is my Ritz Carlton mooncakes

my dear lausai

 

I m not the one who showed a pic of ritz carlton mooncakes

 

 

[Yewheng]

sibei irony ... stock rise because of "poor" job report simply because the likelihood of rate hike is gone ... lol

so in order for market to cheong ... it's better to have higher unemployment ... muahahahaha

That's shows how screwed up the market now is. All depends on fed and nothing else. Usually higher unemployment number lead to less confidence in the market. But nowadays it is fed, everything is fed. The lifeline depends on fed.. That's very bad. Market is a lot worst now that every small little move by fed will affect greatly in the stock market. If fed rises interest rate again the market will dive sharply down, if fed restart qe, the market will goes up. But we all know printing money does not solve the problem and only pass the bigger problem to future generations. Edited September 3, 2016 by Yewheng

[car50]

Live frugally and not spend a single cent

 

Sounds great

 

But

 

What happens if die suddenly

 

Who will take the cash under pillow   

For those with 700k and more, I suggest you keep the cash under the pillow and live frugally.

 

Rely on handouts both cheap and expensive as much as possible. As an example, you can ask your suppliers and online friends for Ritz Carlton mooncakes and Da Zhong Guo mooncakes respectively. And always eat from hawker centres and pretend you're a peasant.

 

You can always refer to @enye for advice if you aren't sure 

 

[Wt_know]

DBS cheong ar ...

Swiber? who cares ... sup sup water

[Lala81]

Simple open 14 accounts.

 

 

Other than the humour part, i think the information is not correct.

SDIC only insures up to 50k of all the accounts in a single institution. 

 

If it's joint holder account, then the $ is assumed equal split. For eg. if you have joint acct with wife, only 25k is insured under SDIC.

 

You probably have to put $ into FD accounts all over the island. SingFinance, SBI etc, HL bank, HLF etc etc if u have so many 50ks.

[Ktglfc]

DBS cheong ar ...

Swiber? who cares ... sup sup water

 

 

Huat ah :)

 

Hope it can sustain ... though it may be a knee-jerk reaction ....

[Wyfitms]

That's shows how screwed up the market now is. All depends on fed and nothing else. Usually higher unemployment number lead to less confidence in the market. But nowadays it is fed, everything is fed. The lifeline depends on fed.. That's very bad. Market is a lot worst now that every small little move by fed will affect greatly in the stock market. If fed rises interest rate again the market will dive sharply down, if fed restart qe, the market will goes up. But we all know printing money does not solve the problem and only pass the bigger problem to future generations.

 

everyone knows it is not the solution. but it has been working the past 8 yrs and prob will continue to work in the coming years. So might as well continue to seize opportunities as they come along

[Jamesc]

Other than the humour part, i think the information is not correct.

SDIC only insures up to 50k of all the accounts in a single institution. 

 

If it's joint holder account, then the $ is assumed equal split. For eg. if you have joint acct with wife, only 25k is insured under SDIC.

 

You probably have to put $ into FD accounts all over the island. SingFinance, SBI etc, HL bank, HLF etc etc if u have so many 50ks.

 

Good point.

 

Must open accounts in 14 different banks. 

 

If anyone too lazy for just $50 I can help take your $50,000

 

and help you open the account.

 

  

[Wt_know]

Draghi talk no use ... Yellen talk then market up ... lol

Edited September 8, 2016 by Wt_know

[Wt_know]

ok, the simi expert had spoken

can change title liao

Edited September 8, 2016 by Wt_know

[Ktglfc]

ok, the simi expert had spoken

can change title liao

 

 

Already 2/3 of the year gone by, I also can be expert by saying no recession

 

lol

[Scion]

http://www.straitstimes.com/business/economy/a-lingering-slowdown

 

Published

Sep 10, 2016, 5:00 am SGT

 

The Singapore economy is having a tough year and next year is unlikely to be much better.

 

Economists polled in the Monetary Authority of Singapore's (MAS) latest quarterly survey expect the economy to grow 1.8 per cent for all of next year, markedly slower than their June forecast of 2.1 per cent.

 

The MAS survey reflects the views of 22 analysts monitoring the Singapore economy.

 

The environment has been challenging for a while with the world economy yet to fully recover from the financial crisis while a clear growth driver has yet to emerge as major powers like the United States and China continue to grapple with reform and recovery.

 

This has all had a dampening effect on global trade and by extension, Singapore's small, open economy.

 

The slowdown has affected not just export-dependent sectors like manufacturing, which makes up a fifth of the economy, but also service industries like finance.

 

Unemployment is inching up amid a cooling labour market and business has stagnated for many companies.

 

The economy expanded 2.1 per cent in the second quarter compared with the same period last year. But compared with the first three months of the year, growth in April to June was almost flat at 0.3 per cent.

The first six months of this year were already tough, and the economists MAS surveyed are not holding out much hope for this half to be spectacularly better.

 

Those polled expect modest growth of 1.8 per cent for the full year - in line with Government forecasters' expectations of 1 per cent to 2 per cent.

 

This is likely to be the slowest year for the Singapore economy since the aftermath of the global financial crisis in 2009.

 

But more troubling is the uncertainty over when the economy - and sentiment - might rebound. So far the prospects for brighter days ahead are dim.

[Staff69]

 

 

we are all going to die.

 

how you lived your life is in your own hands

 

 

 

some choose to end it early

 

 

but

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

they are not missed cos life goes on

Edited September 11, 2016 by Staff69

[Throttle2]

 

http://www.straitstimes.com/business/economy/a-lingering-slowdown

 

Published

Sep 10, 2016, 5:00 am SGT

 

The Singapore economy is having a tough year and next year is unlikely to be much better.

 

Economists polled in the Monetary Authority of Singapore's (MAS) latest quarterly survey expect the economy to grow 1.8 per cent for all of next year, markedly slower than their June forecast of 2.1 per cent.

 

The MAS survey reflects the views of 22 analysts monitoring the Singapore economy.

 

The environment has been challenging for a while with the world economy yet to fully recover from the financial crisis while a clear growth driver has yet to emerge as major powers like the United States and China continue to grapple with reform and recovery.

 

This has all had a dampening effect on global trade and by extension, Singapore's small, open economy.

 

The slowdown has affected not just export-dependent sectors like manufacturing, which makes up a fifth of the economy, but also service industries like finance.

 

Unemployment is inching up amid a cooling labour market and business has stagnated for many companies.

 

The economy expanded 2.1 per cent in the second quarter compared with the same period last year. But compared with the first three months of the year, growth in April to June was almost flat at 0.3 per cent.

The first six months of this year were already tough, and the economists MAS surveyed are not holding out much hope for this half to be spectacularly better.

 

Those polled expect modest growth of 1.8 per cent for the full year - in line with Government forecasters' expectations of 1 per cent to 2 per cent.

 

This is likely to be the slowest year for the Singapore economy since the aftermath of the global financial crisis in 2009.

 

But more troubling is the uncertainty over when the economy - and sentiment - might rebound. So far the prospects for brighter days ahead are dim.

Unfortunately, that really is the case.

So those who have always maintained a lifestyle well within their finances will have no problems.

Those who YOLO will die quite horribly.

 

Talking about recession, i am going to join uber and drive taxi soon.

So dont be surprise when a 911 turns up.

[Ktglfc]

Do doubt the economy is not good ... but hopefully we can tide over this soon ...