Market Crash of 2008

[phouse3]

I don't think Singapore currency is a good store of value. We mustn't forget that we don't grow our own food and we have no natural resources.

In a global financial and economic meltdown, our reserves will decline in value. Again, I must say that our reserves will decline in value more than others because GIC has invested heavily in USA and Japan. GIC has also re-balanced its portfolio to a more aggressive one by investing in distressed assets just before the meltdown.

Therefore, S$ will decline in value. Cheaper commodity prices are not enough to make up for the lower purchasing power of S$.

We may have cheered too fast about easing inflation. But we certainly feel happier knowing that the income gap will narrow.

 

[Manchu]

maybe you should change all your savings into coins
1. the bluglar wouldnt be able to haul it away unless he brings his forklift .
2. it would be too tough for the cockroach to chew it's way through tons of metal unless it brought along a pair of iron jaws.

In times of crissis, you need to think out of the box. ha ha . and dont forge to borrow one ot those coin counting machine from the bank

You've probably did not take into account that FamiLEE has loads of blanga workers and Gurkas to help them cart away all your coins.

 

[cass888]

Maybe next Monday will be black Monday again, in October once more.

Market already dropped 50%. No more chance of a black Monday.

 

[Manchu]

Market already dropped 50%. No more chance of a black Monday.

It is still Monday, 13th....Oct 2008. Any thing can happen !

 

[uobboss]

Waiting for 1988 3 digit sti index before going in .