Some news for all in Singapore

In this time of economy crisis, we are no way better off than USA and Europe.
Here my reason of WHY?
1) Singapore is an Exporter Country, where our revenue come from exporting goods manufacture in China and sell to Japan, USA and Europe. If both this market crash where can we sell them to?

2) Why this 2 market can affect the World? In 2007 survey by IMF or World Bank or CIA, this 3 area contributed to 50% of the World GDP of 54 Trillion USD. They collapse then we will lose 2 market with 25 Trillion to buy our goods.

3) Why we are not selling to China since they are the upcoming power and contributed 3 Trillion USD in last year? They are very self sufficient, so it will be quite impossible to sell to them as most of the thing in the World is produce from there.

4) Where will the credit crunch affect next in industry? Most likely is all the shipping line and ship maker. They produce alot of ships during the 2007 Boom period and now with economy slow down, these ship became a big liabilities. Shipmaker will suffer greatly for next few year as there is oversupply of ship in the World. We can see this in Singapore NOL shiping company halt the purchase of Germany Shipping company Hapag-Lloyd.

5) Our bank also have losses due to subprime (DBS,UOB and etc), DBS has the most losses with write down of S$170 million on CDOs with exposure to U.S. subprime assets. DBS is also under stress from the collapse of Lehman Brother as they have sell some so call "very safe" Lehman Minibond and DBS high note that link to Lehman Brother before collapse.

6) Manufacturing is in the worst hit as their goods is unable to be sell, as the whole world is saving whatever they have to tide over this crisis that may be as great as The Great Depression.

7) Property will further slowdown from last quarter as there are oversupply of private housing in the market. This will be make worst as alot of buyer buy properties that they cant afford to earn fast cash from the hot market at the start of the year, where they can only anticipate to pay a few instalment and sell it off.

Some advice:
1) Dont buy gold now, it is overprice. But this is the best time to sell your gold/gold jewellery, buy it back after the depression start to cool down.
2) Put all your saving cap at $20k max at each Singapore bank, as in any case of bank collapse we can only get back $20k max for each bank through the insurance they are order to buy by MAS.

3) Hold your money and wait for the sign of economy depression that come to it bottom, sign like consumer spending index in USA drop has start to stop for at least a quarter or Inflation rate has start to rise instead of decreasing.

4) Find more income stream to get extra cash, e.g. find a good BUX site with honest admin to prevent scam and look for those who are not needed to invest to earn or do some freelance job like translation, web design, programming and etc.

5) It also a best time to enhance yourself, by going for extra certificate as this is the time those college that offer part time course to cut price. Good thing about part time course is you can social around with more people from the working force not like in full time course.