recession looming

world stock markets have dived on fears of US recession.

however, Singapore appears to be out of this big bursting bubble (read: appears). Property prices are red hot, consumer prices are almost out of control, yet people still feels worthwhile to spend their excess cash or extend credit terms on big ticket items.

yes, commonwealth funds are buying into faltering US banks such as Merill Lynch and Citigroup. But that doesn't guarantee recession is avoided. The market is volatile and our country's investment entity is playing with a couple of bush fires for a hopeful rebound, and to secure some sort of security in the years ahead. The principle of "buy low" is true, it seems. Nevertheless, i hope it is a long term investment that GIC/Temasek has planned.

if you're a wise individual, you would be saving this moment. When consumer prices get lower, it is then the best time to do any spending. This is my belief from reading past news reports when i was still a kid in 1997. If you've been spending on especially big items (which none of us really do because my readers are not earning enough? =)), the pain will come soon. Either hold it or rid it quickly. Not everyone can hold for years though, because banks will be coming with their demands when jobs are coincidentally lost and such. Good luck to everyone, including myself.

if US economy sneezes, world economy catches a cold. What we have seen is not even sneezing, just probably some irritations. Unless you're from Saudi Arabia, there will be some damage.