A replay of 1997/1998 crisis?.......

[Wunderfool]

1997 Asian Currencies Crisis is coming back as 2015 Global Currencies Crisis

China has devalued ..Prepare for Vietnam, Thailand and India (as well as the rest of the EM countries to devalue in the coming week!!

During the Asian crisis of 1997 and 1998 the following effects were felt:

South Korean Won declined 34% against the USD
Thai Baht declined 40% against the USD
South Korean Gross National Product (GNP) declined 34%
The USD index rose 13% versus a basket of other major world currencies
The S&P 500 fell 15% in 1997, rallied, and then dropped another 20% in 1998
The Japanese Nikkei index declined 36%
South Korean share prices declined 58%
The 30 year US bond yield fell from 7.0% to 4.2%
Crude oil prices declined 62%
The Asian crisis contributed to the Russian default in 1998. This in turn led to the collapse of Long Term Capital which required a $3.625 billion bailout organized by the Federal Reserve as well as a 1% reduction in the Federal Funds Rate to contain the fallout.

In 1998 South Korea, Thailand and Indonesia have to be bailout by IMF..

In 1997 while Spore currency did not get devalue as much but property completely collapse ( yes u can buy condo for less than 400K) and job market experience the worst layoff since independence when MNC moved out amass to lower currency countries!!

For those of you who went through the 1997 Asian Financial crisis, you would know what it means to lose your bank job overnight and your property value collapsed, leaving you behind with a huge mortgage debt. It was a double whammy.

Today, imagine that if the Opps were voted in as the government in these similar times, the foreign hedge funds and money speculators , like hungry vultures will "smell blood" and will spare no mercy in attacking the Singapore dollar as well.

The Singapore government did very well to manage the '97 crisis and Singapore came out relatively unscathed while all our neighbours were "toasted" and had to rely on the IMF to bail them out.

Think carefully in these perilous times and vote wisely.

Do not be just concerned about municipal issues ( town council's finance lapses, PA 's account lapses ) Look beyond. There is a time-bomb waiting to explode in the region and if we are not prepared, we will get "toasted". Look at what happened to Thailand yesterday... some people are bent on creating instability in the Asean region.

 

[dancingshoes]

For those of you who went through the 1997 Asian Financial crisis, you would know what it means to lose your bank job overnight and your property value collapsed, leaving you a huge mortgage debt.

It was a double whammy... now imagine that if the Opps were voted in as the government in these perilous times, the foreign hedge funds will "smell blood" and will spare no mercy to attack the Singapore dollar as well.

Singapore government did well to manage the '97 crisis relatively unscathed while all our neighbours were "toasted" and had to rely on the IMF to bail them out.

Think carefully of this in these dangerous times. We must be aware of what's happening in the outside world that will affect us too!

the smart localised sinkies will realise that voting for more opposition will do sinkieland good in the long run. if you continue to stick to pap, very high chance it will be stagnant and of no improvement to our daily lives. the key point is VOTE OPPOSITION FOR THE LONG RUN, DO NOT DEPEND SOLELY ON PAP TO RUN THE COUNTRY.

 

[Wunderfool]

For those of you who went through the 1997 Asian Financial crisis, you would know what it means to lose your bank job overnight and your property value collapsed, leaving you behind with a huge mortgage debt. It was a double whammy.

Today, imagine that if the Opps were voted in as the government in these similar times, the foreign hedge funds and money speculators , like hungry vultures will "smell blood" and will spare no mercy in attacking the Singapore dollar as well.

The Singapore government did very well to manage the '97 crisis and Singapore came out relatively unscathed while all our neighbours were "toasted" and had to rely on the IMF to bail them out.

Think carefully in these perilous times and vote wisely.

Do not be just concerned about municipal issues ( town council's finance lapses, PA 's account lapses ) Look beyond. There is a time-bomb waiting to explode in the region and if we are not prepared, we will get "toasted". Look at what happened to Thailand yesterday... some people are bent on creating instability in the Asean region.

Okay, in times like these, it is better to take some money off the table and reinvest in overseas markets ( US is a relatively safe haven for now).