Friday, October 10, 2008

Singapore economy is in technical recession

Singapore economy is in 'technical' recession now, judging from figures released by the Ministry of Trade and Industry (MTI).

Singaporeans' worst fears have arrived, but it is not unexpected as being a small country dependent on the global economy, Singapore, like other nations, cannot be spared from the spill-over effects of the US global crunch.

Singaporeans, now is time to tighten your wallets and spend lesser. But for the 666,600 millionaires with a net worth liquidity of US $1 million(excluding property), they may not feel the pinch, unless their businesses are also affected.

For the adventurous, this is golden time to invest in stocks and shares as their prices are low right now.

See report here

1 comment :

Anonymous said...

I hv lost my faith in stocks. Better to put one's hard-earned savings in a bank - at least I know there will be interest. A few percent is better than seeing it dimishing with the meltdown of stock prices !

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