economy recovery, how confidence are you?
-
US consumer confidence fell to its lowest level in four months in August on worries over high unemployment and dismal personal finances, though the mood improved from earlier this month, a survey showed Friday.
The Reuters/University of Michigan Surveys of Consumers said its final index of confidence for August fell to 65.7 from 66.0 in July.
That was the lowest since 65.1 in April but above economists' expectations for 64.5 and higher than this month's preliminary reading of 63.2.
"This tells me consumers are still in rebuilding phase," said Christopher Low, chief economist at FTN Financial in New York. "Investors still have to be worried about the sustainability of the recovery. It's clear to me that we cannot count on growth through next year as long as consumers are still on the ropes."
U.S. stocks hit session lows after the data, while the dollar slipped versus the yen U.S. government bonds, which are favored by investors during times of economic weakness, trimmed earlier losses.
Consumers rated the current economic conditions as the worst since March, when the stock market hit 12-year lows.
The index fell to 66.6 from 70.5 in July, but was an improvement from 64.9 earlier this month.
personally, singapore recovery is very much dependence on USA state of recovery.
USA recovery is not sustainable unless consumers confidence/ spending pick up. US deficits, couple with FED decision to raise interest rate could derail any form of recovery.
-
Is it not ironical for Singaporeans that the Prime Minister of Singapore with an annual salary of US2,657,000 (*1) - cannot solve the problems of a ‘Singapore economy that has a GDP of US$240 Billion’ (*2) ,
and will need to wait for
the US President - who has an annual salary of US$400,000 (*3) - to solve the problems of a ‘US economy with a GDP of US$14.29 Trillion’ (*4) ?
-
Originally posted by Atobe:
Is it not ironical for Singaporeans that the Prime Minister of Singapore with an annual salary of US2,657,000 (*1) - cannot solve the problems of a ‘Singapore economy that has a GDP of US$240 Billion’ (*2) ,
and will need to wait for
the US President - who has an annual salary of US$400,000 (*3) - to solve the problems of a ‘US economy with a GDP of US$14.29 Trillion’ (*4) ?
hello uncle, people talks about economy, u talk about salary for what?? -
Originally posted by reyes:
personally, singapore recovery is very much dependence on USA state of recovery.
USA recovery is not sustainable unless consumers confidence/ spending pick up. US deficits, couple with FED decision to raise interest rate could derail any form of recovery.
No, you are wrong, USA will not be the market of the future, our govt are not that stupid to get burnt again by another Madoff or Maddog.......or another lemon brothers, u need to learn your lesson. The paradigm shift is needed, we will say that USA can still be a main contributor to our economy, but not as much as before the crisis, with our foreign ministry making visit to a few asian places, you should know that the govt are trying to diversify it economy interest in a more flexible and liquitable way rather than just depending on USA ya. -
Originally posted by reyes:
personally, singapore recovery is very much dependence on USA state of recovery.
USA recovery is not sustainable unless consumers confidence/ spending pick up. US deficits, couple with FED decision to raise interest rate could derail any form of recovery.
Personally, not too optimistic.But i'm a believer of Peak Oil and believe that economic progress is ultimately determined by increasing fossil fuel production and we seemed to have hit that point.
-
Originally posted by Stevenson101:
Personally, not too optimistic.But i'm a believer of Peak Oil and believe that economic progress is ultimately determined by increasing fossil fuel production and we seemed to have hit that point.
The current economy surge to what i believe is that industrials are busy producing year end season gifts, big investors are getting tire of waiting for consumer confident to return and therefore stimlulated the stock market with their capitals in hope of reaping some profits by the early end of the year. And even with oil price going up, it has yet to hit the 150++per barrel mark, currently only half of it.The analysis here is when the production and transportation from industrial decline toward the end of the year. And with less bonuses or no bonus given to the working class due to poor 2009 performances, you will see another dive in the earlier months of next year. And with industrial over producing, retrenchment and layoff will sent off..remember PM said, there will more retrenchment coming by the end the year. More so is that property will have stablised and construction and banks will be facing some bad debts and some force selling due to high inflation set at current situation.
As you know in Singapore, or even the world, so to speak, prices of goods can hardly come down after it went up, this will give a high inflation that can surge pass the 7% record rate, and that will be another diseaster for the working class. With wage freeze or cut, no or less bonus, lost of jobs, high cost of living, u guys better grab what you have now.
As for shares, it will dip, if you can sell now, do it, if not keep those with high dividend one, like starhub ya.
Angel
Strategy Wet Market Analyst
Joo Chiat Kopitiam
-
Singapore economic is still heavily depend on manufacturing export to mainly USA.
Worst, many manufacturing plant are still moving out of high cost Sg to more cheaper alternative countries. Many people job will be lose. Some are replaced with highly skilled R&D sector which employed more speciality job which create very little employment for SG market.
Employment will still be low for SG. Most new job created are those low pay service sector.
While banks are recruiting new people but this is based on assumption demand of consumer is back. If the thread discontinue, we will back to square one of last year october again..
-
Originally posted by Stevenson101:
But i'm a believer of Peak Oil
Confessions of an “ex” Peak Oil Believer
http://www.engdahl.oilgeopolitics.net/Geopolitics___Eurasia/Peak_Oil___Russia/peak_oil___russia.html
-
Originally posted by angel3070:
Confessions of an “ex” Peak Oil Believer
http://www.engdahl.oilgeopolitics.net/Geopolitics___Eurasia/Peak_Oil___Russia/peak_oil___russia.html
The title is misleading.Peak Oil has never been about running out of oil but about extraction rate and about how much more expensive relatively to increase/maintain that extraction rate.
Whether the abiotic theory on oil is true or not, there has been no evidence of oil fields replenishing itself at any significant rate. THAT is the point.
-
Originally posted by angel3070:
Confessions of an “ex” Peak Oil Believer
http://www.engdahl.oilgeopolitics.net/Geopolitics___Eurasia/Peak_Oil___Russia/peak_oil___russia.html
huh??? how come yr nick sound like mine???
-
I am sorry to say I have no confidence at at. I have no confidence in the present ruling party they will lead us out of the dark. I see it is getting darker than any signs of recovery.
-
Originally posted by angel7030:
hello uncle, people talks about economy, u talk about salary for what??
Read properly, don't be so fast to pop such baseless question. -
Originally posted by angel7030:
huh??? how come yr nick sound like mine???
hello, you created a clone nick for yourself? -
my level of confidence in the economy is directly proportionate to the amount of money in my bank account.
signed,
the citizen
-
only if there are abundance of jobs and wages are proportionate to the cost of living
right now even hard to find temp jobs
-
Originally posted by Atobe:
Is it not ironical for Singaporeans that the Prime Minister of Singapore with an annual salary of US2,657,000 (*1) - cannot solve the problems of a ‘Singapore economy that has a GDP of US$240 Billion’ (*2) ,
and will need to wait for
the US President - who has an annual salary of US$400,000 (*3) - to solve the problems of a ‘US economy with a GDP of US$14.29 Trillion’ (*4) ?
..... : ) -
Originally posted by angel7030:
No, you are wrong, USA will not be the market of the future, our govt are not that stupid to get burnt again by another Madoff or Maddog.......or another lemon brothers, u need to learn your lesson. The paradigm shift is needed, we will say that USA can still be a main contributor to our economy, but not as much as before the crisis, with our foreign ministry making visit to a few asian places, you should know that the govt are trying to diversify it economy interest in a more flexible and liquitable way rather than just depending on USA ya.Are you sure China is your white horse? You might want to explore some of the myth.
There are no existing example to demonstrate one of the world largerest population could soly be the largerest OEM and import raw material around the world to fume world Economies.....and how would that help add jobs to Singapore?
China is doing fine but don't expect it to save the world. OEM export is not as important as you think.........while export growth it doesn't mean it make it all the way to Wages. That in term reflect the size of GDP. Not to mention you need discount from energy and raw material import.
Like i said we are in unchartered terroritory...
-
Originally posted by Atobe:
Is it not ironical for Singaporeans that the Prime Minister of Singapore with an annual salary of US2,657,000 (*1) - cannot solve the problems of a ‘Singapore economy that has a GDP of US$240 Billion’ (*2) ,
and will need to wait for
the US President - who has an annual salary of US$400,000 (*3) - to solve the problems of a ‘US economy with a GDP of US$14.29 Trillion’ (*4) ?
You see he must taken a chapter from Shakespeare..."Let me have men about me that are fat, sleek-headed men and such as sleep a-nights," says Shakespeare's Caesar.
Caesar thought that men who were happy with their lot were less likely to threaten his grip on power.
-
Originally posted by Arapahoe:
You see he must taken a chapter from Shakespeare..."Let me have men about me that are fat, sleek-headed men and such as sleep a-nights," says Shakespeare's Caesar.
Caesar thought that men who were happy with their lot were less likely to threaten his grip on power.
"Caesar thought that men who were happy with their lot were less likely to threaten his grip on power."
LKY believed that "filling the stomachs will help to dull the minds" - which obviously is to make his own tenure in politics more secure.
As much as Casear prefer to have fat, sleek-headed men, he fear those "with lean and hungry look, and who thinks too much - such men are dangerous".
Is it any wonder that we see all the plump pudding faces near to the 'Emperor'.
Is there some reasons for the plump sagging cheeks and plastic stretched skin ?
Steroids ?
-
Does anyone seriously believe that the economy will recover any time soon ?
See the striking words that have been highlighted in bold, and especially in 'RED'.
Note that the Elite claiming their superior talents justifying their millions in annual wages - cannot even be certain if the economic and fiscal measures that they implement will have any beneficial effects even after these are applied.
Singapore economic outlook grim for 2009: PM Lee (*1)
Thu, Jan 01, 2009 - AFP
Singapore's economy is likely to worsen next year after growing just 1.5 percent in 2008, Prime Minister Lee Hsien Loong said Wednesday, urging Singaporeans to "prepare for a difficult year ahead."
"Our economy will probably contract further. More companies will be forced to downsize. So far we have not seen many job losses, but I expect more retrenchments in the next few months. We must be psychologically prepared," Lee said in his New Year's Day message to the nation.
More job losses are expected in the next few months as companies are forced to shed employees, Lee said.
"As a small, open economy, Singapore cannot avoid being hit. We earn our living by trading with and servicing the world. So the fall in worldwide demand has hit our exports, our tourism sector, and our broader economy," he said.
"We must therefore prepare for a difficult year ahead, and especially the first half of 2009.
Singapore's key markets such as the United States, Japan and Europe have fallen into recession after a crisis in the US housing market spread to the financial sector and the larger economy.
The city-state, one of Asia's wealthiest economies, went into a recession this year, although full-year growth came in at 1.5 percent, well below the official forecast of 2.5 percent and the 7.5 percent expansion in 2007.
"The outlook is highly uncertain. At each stage of this crisis, events have turned out worse than the experts predicted," Lee said.
While governments have been implementing monetary and fiscal measures and rescuing troubled financial institutions and key corporations, "no one is sure how the financial systems and economies will respond, or which policies will work," he said.
This has led to a loss of business and consumer confidence, he said, warning against expectations of a quick recovery.
"Quite likely the global recession will be followed not by a quick rebound, but by several more years of slow growth," he said.
Next year's national budget, which has been brought forward to January, will focus on helping Singapore firms so that workers can keep their jobs, the premier said.
"We will introduce measures to help them (companies) with their business costs, including rental and wage bills. We are also studying further financing support for companies," he said.
The government will do its best to help workers keep their jobs and retrain those who have been laid off, he said, adding this will be done by helping businesses through the crisis.
-
Originally posted by Fantagf:
hello, you created a clone nick for yourself?..laugh until fell down chair...Omg! -
Originally posted by Atobe:
Does anyone seriously believe that the economy will recover any time soon ?
See the striking words that have been highlighted in bold, and especially in 'RED'.
Note that the Elite claiming their superior talents justifying their millions in annual wages - cannot even be certain if the economic and fiscal measures that they implement will have any beneficial effects even after these are applied.
Maybe he needs to be reminded that we didn't elect him as an analyst....we want him to get a solution and leads.........
-
Originally posted by angel7030:
huh??? how come yr nick sound like mine???
who is prettier? -
Originally posted by Atobe:
Does anyone seriously believe that the economy will recover any time soon ?
See the striking words that have been highlighted in bold, and especially in 'RED'.
Note that the Elite claiming their superior talents justifying their millions in annual wages - cannot even be certain if the economic and fiscal measures that they implement will have any beneficial effects even after these are applied.
The economy will go into a double dip, next year, 2010, will be the test of our effort being applied this year and let us see how is the results. We are prone to external influences which we hardly have control over the situation, internally, we can do so much, the govt can implement policies and plans by infusing funds, but it is the external enviroment that we are at risk. However having said that, as long as we are prepare, aligned and not misleaded, together, we can make a different rather than remaining the same as most other countries do, we should therefore embrace ourselves and prepare for the test ahead, be it waves after waves, we believe that Singaporeans will pull together and worked our way out of this crisis.Having said all, if you look around, where is the crisis? But of course that does mean there is no crisis. It is just that our govt are proactive enuf to plan and execute decisively so that when crisis hit, we are still able to survive, improve ourselve and be vibrant as ever. We not facing crisis for the first time, we had been hit from left to right, rigth to left from time to time, and everytime we asked ourselves, how to improve and prepare for the next wave of crisis. In fact, after so many crisis, we natural become good in crisis management.
-
crisis or no crisis
things will not be cheap anyway
Cai png still cost more then 2 dollars
Crisis or no Crisis
No need to eat?
No need to Sleep?
No need to think?
No need to go out ar?
Life will be still as per normal