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The Perfect Storm of the Stock Market II


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Singapore's first quarter jobless rate highest in a decade, foreign employment drops

Reuters 29 April 2020

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The overall unemployment rate rose to 2.4% from 2.3% in the previous quarter, data from the manpower ministry showed on Wednesday, the highest rate since the 2009 global financial crisis.

Total employment, excluding foreign domestic workers, fell 19,900 - its sharpest quarterly contraction since 2003 when the country was battling the Severe Acute Respiratory Syndrome outbreak. The fall was due to significant drops in foreign employment across manufacturing, services and construction.

Total retrenchments in the first quarter rose to 3,000 from 2,670 in the previous quarter, but was well below a peak of more than 12,000 in the first quarter of 2009.

Singapore is facing the deepest recession in its 55-year history, and authorities have warned that unemployment is likely to rise and wages drop.

The city-state has among the highest number of infections in Asia and has extended widespread curbs to contain the spread of the virus, which include the closure of most workplaces and schools until June 1.

"Labour market conditions are likely to worsen in the upcoming quarter," the manpower ministry said, citing the sharp fall in demand globally and local virus containment measures.

 

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5 hours ago, sti2020 said:

heng ah, ZERO loan on hand now

everything FULLY PAID ! 🤣

I pay 1.1% housing loan this month the feeling is also not bad.  Got to find joy in the little things to keep going. 

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30 minutes ago, Chongster said:

I pay 1.1% housing loan this month the feeling is also not bad.  Got to find joy in the little things to keep going. 

cheap money is not a bad thing sometimes 🤣

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9 hours ago, Chongster said:

Where are all the guys who say buy on the way up.  You guys buying now?  

I have been buying China on the way up.  All the countries have announced massive stimulus but the richest guy at the table is holding back.  

The AMDK started to give out money weeks ago to people still stuck at home, imagine you give helicopter money to people who can go out and spend?

Just sharing, could be a dead cat bounce and those sitting on the fence will be laughing at me. 😅😂😃

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50 minutes ago, Voodooman said:

I have been buying China on the way up.  All the countries have announced massive stimulus but the richest guy at the table is holding back.  

The AMDK started to give out money weeks ago to people still stuck at home, imagine you give helicopter money to people who can go out and spend?

Just sharing, could be a dead cat bounce and those sitting on the fence will be laughing at me. 😅😂😃

my friends jio me china reits but i ended up with SG reits instead.  think they huated more than me : )

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Boeing surge after switching from manufacturing planes to bonds.

Can throw away all the text books. Valuation is now based on how fast u can put out bonds.

 

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On 4/27/2020 at 8:48 AM, sti2020 said:

if US continue to print unlimited magic money, sure chong !

lai liao lai liao

chong ah !! 🤣

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Turbocharged

presuming stocks is a leading indicator by about 6 mths... the crash shld not be here yet.

many countries are trying to reopen with limited success. if consumer dun spend, then companies make what?

SG Q1 and Q2 employment shld be mitigated by Govt many SMEs will fall. without the packages, many would have folded already

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Turbocharged
23 minutes ago, Albeniz said:

Today STI doing a dead cat rebound?

Suddenly go up so high.

Today, remember.

To sell on strength ah.

Take some profits first.

 

Edited by Albeniz
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3 minutes ago, Chongster said:

DBS maintain dividend.  66 cents in all.  Sell?  Or buy more?  Still below $20. 

Untitled.jpg.f52e12066f26362e10323a7b26790347.jpg

as you speak, price just went above $20 🤣

 

 

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Remember the overall overarching lesson: money always becomes smaller during crisis. People suffer because they can buy less of essential goods, never because they can buy more.

This happens if wages fall or jobs are lost, AND / OR if essential things become MORE expensive (housing, food etc)... When they become more expensive and people try to buy less, they become even MORE expensive.

Always look at both sides of the equation.

Edited by Showster
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Just now, Showster said:

Remember the overall overarching lesson: money always becomes smaller during crisis. People suffer because they can buy less of essential goods, never because they can buy more.

This happens if wages fall or jobs are lost, AND / OR if essential things become MORE expensive (housing, food etc)...

Always look at both sides of the equation.

even without crisis, money always become smaller

those holding 100% cash hoping for private property to crash or stock market to crash will be very disappointed when prices go up again

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