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Post Reply Singapore Economy
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Posted 1/20/09

Sg economy falling down like endless rain.

Job losses is increasing

Retrenchment possible.

Salaries, wages are dropping like bird poo. No bonus also

The poor will be poorer.

Government is trying hard to help the people.



So whats ur opinion? Are u worried also?
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22 / F / my world class MU...
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Posted 1/21/09
well.. i only have 1 thing to say.

IT'S ALL USA'S FAULT!
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86 / M / Have you seen a r...
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Posted 1/21/09
why is it their fault? i dun read news haha.

and well i only have one thing to say..THIS WORLD IS FUCKDUP BUT LIFE IS WONDERFUL.
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Posted 1/21/09
Because they're a bunch of racist bastards.
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Posted 1/21/09

prident wrote:

Because they're a bunch of racist bastards.


whose the racist lol?
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Posted 1/22/09
Doesn't really bother me that much, not like we'll all go bankrupt and it isn't the first time we had this kind of economy crisis.... Things will work out some way or another.
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Posted 1/22/09 , edited 1/22/09
[ryolingz] wow how optimistic.

[santhor] it was usa which was the cause of the crisis cos they kept borrowing money but cannot pay up so the banks ran out of money and got bankrupt so lots of ppl lost their jobs and ppl who had their money stored in the bank lost it all (i think) and those who invested in the banks lost all their money too. since they had no money/jobs, the usa economy falls.. and it drags everyone down with it!
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Posted 1/22/09
Omg santhor ....a 14 yr old knew all this and you knew nothing about it !!!!!!

D: remember to wear a paper bag over your head when you head out of the house. Haha =x!

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Posted 1/22/09

MUD-PIES-YUM wrote:

[ryolingz] wow how optimistic.

[santhor] it was usa which was the cause of the crisis cos they kept borrowing money but cannot pay up so the banks ran out of money and got bankrupt so lots of ppl lost their jobs and ppl who had their money stored in the bank lost it all (i think) and those who invested in the banks lost all their money too. since they had no money/jobs, the usa economy falls.. and it drags everyone down with it!


The bank doesn't borrow money..they loan money. And the fundamental basis of why they went bankrupt was 'cause they were giving sub-prime loan meaning anyone who steps into the bank and wants to borrow money will get the loan regardless of prime factors like job, pay, age for the past 5-6 years..which is a contrary of deal diligence which is how local banks function their loans. So why did the US banks give sub-prime loans? Simply 'cause property prices were booming and even if the mortgagee can't pay off the loan, the bank can just take back the property. But of course, thanks to their greed the plan failed when property prices fell.
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Posted 1/22/09
its hard for the economy to be back to normal...
the whole earth is running out of resources...
now, the problem isnt money itself but the value in the money...
even if we have lots of money, when resources run out,
money becomes nothing.
im very worried...
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Posted 1/22/09

prident wrote:


MUD-PIES-YUM wrote:

[ryolingz] wow how optimistic.

[santhor] it was usa which was the cause of the crisis cos they kept borrowing money but cannot pay up so the banks ran out of money and got bankrupt so lots of ppl lost their jobs and ppl who had their money stored in the bank lost it all (i think) and those who invested in the banks lost all their money too. since they had no money/jobs, the usa economy falls.. and it drags everyone down with it!


The bank doesn't borrow money..they loan money. And the fundamental basis of why they went bankrupt was 'cause they were giving sub-prime loan meaning anyone who steps into the bank and wants to borrow money will get the loan regardless of prime factors like job, pay, age for the past 5-6 years..which is a contrary of deal diligence which is how local banks function their loans. So why did the US banks give sub-prime loans? Simply 'cause property prices were booming and even if the mortgagee can't pay off the loan, the bank can just take back the property. But of course, thanks to their greed the plan failed when property prices fell.


yea thats exactly what i'm going to say..he was faster. now i only got one thing to say, great minds think alike.
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Posted 1/22/09

ryolingz wrote:

Omg santhor ....a 14 yr old knew all this and you knew nothing about it !!!!!!

D: remember to wear a paper bag over your head when you head out of the house. Haha =x!



SO MATT I NEED NO wearing any paper bag when i'm out. And i'm only 18 ma 4 years older. what you expect? lol i'm so xia suay.
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Posted 1/22/09
and USA can jolly well fuck off.
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Posted 1/22/09

pinky2812007 wrote:

its hard for the economy to be back to normal...
the whole earth is running out of resources...
now, the problem isnt money itself but the value in the money...
even if we have lots of money, when resources run out,
money becomes nothing.
im very worried...


That's what R&D is for. Science will always have a way of settling the many problems we see now.
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Posted 1/22/09

prident wrote:
That's what R&D is for. Science will always have a way of settling the many problems we see now.

but went science does something, it uses some resources too...
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