Ass Loon: Were Got DEPRESSION? Dun Any How Say!

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>PM does not expect global depression
</TR><!-- headline one : end --><TR>Instead, he sees a long downturn, then years of slow growth </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Sue-Ann Chia, Senior Political Correspondent
</TD></TR><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->PRIME Minister Lee Hsien Loong does not foresee a global depression despite the current financial storm sweeping the world.
'I think that global depression is not on the cards. Governments have learnt the lesson of the 1930s and they will not repeat the same mistakes,' he said.
'So this is not the end of the world.'
Still, it could be a long downturn followed by several years of slow growth, he said, during an hour-long forum with members of the Foreign Correspondents' Association.
'The recession, to the best of the experts' judgment, may last a year, maybe if we're lucky, three-quarters (of a year),' he noted.
'But the recovery...is likely to be weaker than from previous recessions and we must be prepared for several years of slow growth.'
Mr Lee, however, noted that experts had been wrong many times before and they could be wrong again.
In a speech before the question- and-answer session, he noted that events had turned out worse than expected.
'Governments are improvising, making policy on the fly, venturing into uncharted territory, throwing every possible measure into the mix to try and restore confidence, restore stability, maintain employment and get growth going again,' he said.
Such swift action by countries such as the United States and China to counter the recession could prevent the world from sliding into a depression.
China's 4 trillion yuan (S$886 billion) stimulus package is 'a plus for the rest of the world', he said, but its impact is also marginal.
In the US, President-elect Barack Obama has assembled the 'strongest possible economic dream team'.
'But even with the best team and the best policies, it's not possible to turn things round overnight,' he said.

=> Then what makes the Papayas deserve the BEST PAY in the world?

That is because it takes time to change habits. The Americans have to save more, consume less, and invest more in infrastructure, while Asian countries have to continue to save but also consume more.

=> How does it reconcile with the punting habits of his Daddy and hubby, which blew away $80B of the Peasants' blood and coffin money as a result? Just cos they are from an "exceptional" Familee as in exceptionallee corrupt?

'It will be some time before the world goes back to sustained growth again.'
Meanwhile, Singapore, which has suffered recession in the second and third quarters of this year, is taking steps to help workers and businesses cope, with a training programme and easier access to loans.
These measures precede the Budget next month. 'The most important thing we should try to do is to keep our businesses afloat and keep our people in jobs,' he said.
Lower-income families can look forward to aid in the Budget, Mr Lee added.
Economist Choy Keen Meng from Nanyang Technological University agreed with Mr Lee, saying that a long-lasting depression can be averted as policymakers worldwide produce a coordinated response and the right fiscal policies.
He said Singapore needed a 'substantial stimulus' Budget package, with cash handouts and rebates to encourage people to spend.

=> How? Hike rentals and tariffs, so that ministers have a fatter bonus?
[email protected]

 

[Leegimeremover]

Cheebye Hum Gar Chan Loon. Do not talk lanjiao. Shoot your ghostwriter. What? Want to sue CNN ah? Want ridiculue Robert Reich ah? Go look at yourself in the mirror, defective gene Lee familee. I TELL YOU NOW USA IN DEPRESSION AND SINGAPORE WILL BE FUCKED TILL PAP DOGS SCARED SHIT TO MIGRATE BUT NO ONE WANT U! 300% TRADE TO GDP EQUALS TO HOLOCAUST DEPRESSION. PAP IS GOING TO DUST.

US Jobs Data Shifts Blogs' Focus To Depression From Recession
Dow Jones
December 05, 2008: 03:26 PM EST

NEW YORK -(Dow Jones)- Bloggers labeled this economic slowdown a recession months ago. Now some have shifted their sights to the dreaded "D" word.

November's U.S. employment data have prompted many strategists and market observers in the blogosphere to wonder whether this recession will ultimately turn into a depression. Even though the recession is officially a year old, more than half a million jobs lost in November signals the downturn may get worse before it gets better as the labor market faces headwinds from virtually every sector of the U.S. economy.

"Today's employment report begs the question of whether the meltdown we're experiencing should be called a Depression," Robert Reich, former secretary of labor and professor at the University of California at Berkeley, wrote on his blog Friday. "When FDR took office in 1933, one out of four American workers was jobless. We're not there yet, but we're trending in that direction."

The Bureau of Labor Statistics said U.S. nonfarm payrolls fell 533,000 in November, the largest decline since December 1974 and the 11th-consecutive monthly decline. The unemployment rate rose to 6.7%, the highest since October 1993. Economists were expecting the report to show a decline of 350,000 jobs with an unemployment rate of 6.8%.

The average workweek dropped to 33.5 hours, which Reich noted is the shortest number of hours since the Labor Department began keeping records on hours worked in 1964.

"A significant number of people are working part-time who'd rather be working full time," Reich said. "Coupled with those who are too discouraged even to look for work, I'd estimate that the percentage of Americans who need work right now is approaching 11% of the workforce."

The jobs data also prompted University of Maryland professor Peter Morici to wonder whether the U.S is headed for a depression.

"The threat of a widespread depression is now real and present," Morici said, according to The Wall Street Journal's Real Time Economics blog.

The Dow Jones Industrial Average fell as much as 257 points earlier in Friday's trading session, but the index recovered and was recently up 150 points as investors believe a bad jobs report may have already been priced into the market.

Portfolio.com's Felix Salmon labeled the current downturn as "a fully-fledged Great Recession," and said it is fairly obvious that the economy will continue to get worse before it gets better. The 533,000 job losses last month doesn't even include the millions of job cuts General Motors Corp. (GM) is warning about should it be forced into Chapter 7 liquidation, Salmon said.

"The employment bloodbath is only beginning," Salmon wrote on his Market Movers blog. "Anybody still hoping for a swift bounce back is looking increasingly delusional. As we saw this morning, the probability of downside surprises is much greater than the chance that we'll get any good news any time soon."

More than 1.2 million jobs have been lost in the last three months alone. The speed at which the labor market is contracting should certainly raise a red flag, according to Paul Kedrosky, a strategist with Ten Asset Management.

"There is no question this unwinding is happening faster and more savagely than any in memory," Kedrosky wrote Friday on his Infectious Greed blog. "The speed with which carnage slices through this tightly-linked economic system of ours, both globally and locally, is remarkable and unprecedented."

-By Steven Russolillo, Dow Jones Newswires; 201-938-2205; steven.russolillo@ dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http:// www.djnewsplus.com/al?rnd=B8Ivi3kcr48MG8t2c5SWHw==. You can use this link on the day this article is published and the following day.

 

[zhihau]

PM does not expect global depression. Instead, he sees a long downturn, then years of slow growth

my goodness... is this the same logic as mee siam mai hum and chillies and onions keeping the rain away? what is our PM using this time to keep the global financial meltdown at bay?

 

[popdod]

Remind Singaporeans to keep their pay low.
else companies will shift their operation to other countries.

We must remain competitive.

:o

 

[Einfield]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>PM does not expect global depression
</TR><!-- headline one : end --><TR>Instead, he sees a long downturn, then years of slow growth </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Sue-Ann Chia, Senior Political Correspondent
</TD></TR><!-- show image if available --></TBODY></TABLE>


<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->PRIME Minister Lee Hsien Loong does not foresee a global depression despite the current financial storm sweeping the world.
'I think that global depression is not on the cards. Governments have learnt the lesson of the 1930s and they will not repeat the same mistakes,' he said.
'So this is not the end of the world.'

Ah Loon ah loon, this round of financial meltdown hit you in the head like a falling coconut, what makes you think people will buy your analysis now??

What lesson did the world learn since 1930?? Nothing really, since Greed is entranced in human genes, like the way you insist to pay yourself millions when your senior citizen have to work in food court clearing trays.

Now about depression, it's deflation that will kill us all, as long as big companies continue to bleed and risk closing down, deflation will continue and like a snow ball, it gets bigger as it roll down the hill.

This snow ball is already rolling and US is trying to stop it by printing more money, China is trying by massive infrastructure projects to tackle massive unemployment, in the next 6 months or so, we can see if the world gov is able to stop this.

The question is, will the PAP use our reserve to help citizen in this once in a century disaster? Or as Dirty Harry say, it's for "Rainy days" only.

With no independent audit, DO we still have any reserve left? Since ah loon say all the bad investment is for "20 years Long Term" so the paper loss now is ok.

 

[Leegimeremover]

Ah Loon ah loon, this round of financial meltdown hit you in the head like a falling coconut, what makes you think people will buy your analysis now??

What lesson did the world learn since 1930?? Nothing really, since Greed is entranced in human genes, like the way you insist to pay yourself millions when your senior citizen have to work in food court clearing trays.

Now about depression, it's deflation that will kill us all, as long as big companies continue to bleed and risk closing down, deflation will continue and like a snow ball, it gets bigger as it roll down the hill.

This snow ball is already rolling and US is trying to stop it by printing more money, China is trying by massive infrastructure projects to tackle massive unemployment, in the next 6 months or so, we can see if the world gov is able to stop this.

The question is, will the PAP use our reserve to help citizen in this once in a century disaster? Or as Dirty Harry say, it's for "Rainy days" only.

With no independent audit, DO we still have any reserve left? Since ah loon say all the bad investment is for "20 years Long Term" so the paper loss now is ok.

Trust me, they gambled a lot away. By normal way of making money, we will never succeed, by the time they entire the financial game, they are too late and last ones in the pyramid scheme. Playing Ponzi means you must be early successful and sell your debts to others. Our fucked scholars are too stupid to spin such things. Answer is fucked. Now, LKY pee and shit in his pants everyday. He has no way out. He is a 3rd class brain. Never study in Cambridge, take YPH notes to mug for exam and was probably given his merit degree for political purpose. If he so good, why GKS has to do all the work for him?

 

[The_Latest_H]

Remind Singaporeans to keep their pay low.
else companies will shift their operation to other countries.

We must remain competitive.

:o

That was happening even before the whole thing started in August 2007. For a long time, they had been doing this, trying to keep low-end manufacturing in this country by depressing wages- and made it worse by extending such a policy into white-collar jobs in both sectors.

As an incoming US President had said in the past year, its doing the same old, same old for the last 20 years, and expecting a different outcome somehow. Such an economical policy, outdated to the max will not bring us good health.

S'pore economical direction has to change because the country and the world has changed. This is to ensure we remain competitive. Now we are just reactive. And the government's tendency to buy stocks of MNCs just before they crash has adverse effects on the country's reputation.

And LHL is just being pathetic in stating that. You don't even have to pay anyone here a cent to say the same stuff as him.