Tracking the 'perfect storm', where at the minimum, TLT has to exceed $123. I am watching, TT.
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Fact or Fright? Tony Tan warns of ‘perfect storm’
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Tracking the 'perfect storm', where at the minimum, TLT has to exceed $123. I am watching, TT.
hi there
1. did whitehair fail his psle english or what.?
2. blind or cannot read?
3. does he know exactly what are kpis of the useless presdy thing?
4. help, my foot.
5. helping with 4 millions!
1. did whitehair fail his psle english or what.?
2. blind or cannot read?
3. does he know exactly what are kpis of the useless presdy thing?
4. help, my foot.
5. helping with 4 millions!
once again, using fear to get votes
hi there
1. bingo!
2. as if playing god leh.
3. the redundant & useless portfolio cannot do anything.
4. a chimp if applicable can also take it on!
With a dead fish handshake, TT started an imperfect storm.
http://www.articlesbase.com/business-articles/the-dreaded-dead-fish-handshake-43581.html
http://www.articlesbase.com/business-articles/the-dreaded-dead-fish-handshake-43581.html
Aug 7, 2011
Tharman outlines strategies to keep S'pore afloat
By Magdalen Ng
SINGAPOREANS have to be prepared for slow growth and periods of recession in the advanced economies over next three to four years, said Deputy Prime Minister Tharman Shanmugaratnam.
Speaking at the Jurong GRC Bukit Batok Division National Day Dinner and Variety Show 2011 to more than 1,500 residents last night, he said that there is a crisis of confidence in the US, Europe and Japan, which will affect Singapore.
He outlined four broad strategies that can help Singaporeans stay afloat in this troubled environment, and to look forward with optimism and confidence.
First, Singaporeans need to keep the spirit of consensus and avoid divisiveness.
Second, Singapore has to continue to deal with the crises that hit us decisively and with a spirit of fairness, taking into account the interest of the low and middle income families. Also, investing in the future - in education, transport and productivity - will be necessary for Singapore to be a place where people can have better lives, 10 to 15 years from now.
Lastly, Singapore has to continue to develop volunteerism, in order to foster a truly inclusive society.
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_699557.html
Tharman outlines strategies to keep S'pore afloat
By Magdalen Ng
SINGAPOREANS have to be prepared for slow growth and periods of recession in the advanced economies over next three to four years, said Deputy Prime Minister Tharman Shanmugaratnam.
Speaking at the Jurong GRC Bukit Batok Division National Day Dinner and Variety Show 2011 to more than 1,500 residents last night, he said that there is a crisis of confidence in the US, Europe and Japan, which will affect Singapore.
He outlined four broad strategies that can help Singaporeans stay afloat in this troubled environment, and to look forward with optimism and confidence.
First, Singaporeans need to keep the spirit of consensus and avoid divisiveness.
Second, Singapore has to continue to deal with the crises that hit us decisively and with a spirit of fairness, taking into account the interest of the low and middle income families. Also, investing in the future - in education, transport and productivity - will be necessary for Singapore to be a place where people can have better lives, 10 to 15 years from now.
Lastly, Singapore has to continue to develop volunteerism, in order to foster a truly inclusive society.
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_699557.html
Aug 7, 2011
Singaporeans should save for rainy days: Khaw
By Jalelah Abu Baker
THE economic uncertainties in the rest of the world affect Singapore swiftly, and Singaporeans should be prudent about saving for hard times.
This was National Development Minister Khaw Boon Wan's message to Singaporeans, at the sidelines of a national day observance ceremony held in Sembawang on Sunday, which held the theme of a 'kampong spirit'.
Amidst the recent American stock crash and debt crisis in Europe, Mr Khaw reminded Singaporeans that spending more than one earns is unwise, and that even a saving of $100 per month out of $1,000 would go a long way in sheltering him during rainy days.
'Sometimes you get fine weather, sometimes rainy. But if you have always saved for the rainy day, you'll be pretty steady and safe,' he told reporters. His comments come a day after Deputy Prime Minister Tharman Shanmugaratnam warned Singaporeans that the going will be tough in the next three to four years, with slow growth and possible bouts of recessions in the most advanced economies.
Bringing closer to home the possibilities of uncertainties, Mr Khaw mentioned that even for Japan, which is generally very good at saving, the economy can be disrupted by natural disasters which are 'beyond human control'. He however faulted the lack of political leadership in the country for always trying to be popular, and not rallying the people to do the right thing.
'To lead, you must be able to see first further, and tell people what is unpleasant sometimes,' he said. 'I try to say what's right,' he added. 'Pleasant or unpleasant to me, is not as important as what is right, what is rational.'
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_699673.html
Singaporeans should save for rainy days: Khaw
By Jalelah Abu Baker
THE economic uncertainties in the rest of the world affect Singapore swiftly, and Singaporeans should be prudent about saving for hard times.
This was National Development Minister Khaw Boon Wan's message to Singaporeans, at the sidelines of a national day observance ceremony held in Sembawang on Sunday, which held the theme of a 'kampong spirit'.
Amidst the recent American stock crash and debt crisis in Europe, Mr Khaw reminded Singaporeans that spending more than one earns is unwise, and that even a saving of $100 per month out of $1,000 would go a long way in sheltering him during rainy days.
'Sometimes you get fine weather, sometimes rainy. But if you have always saved for the rainy day, you'll be pretty steady and safe,' he told reporters. His comments come a day after Deputy Prime Minister Tharman Shanmugaratnam warned Singaporeans that the going will be tough in the next three to four years, with slow growth and possible bouts of recessions in the most advanced economies.
Bringing closer to home the possibilities of uncertainties, Mr Khaw mentioned that even for Japan, which is generally very good at saving, the economy can be disrupted by natural disasters which are 'beyond human control'. He however faulted the lack of political leadership in the country for always trying to be popular, and not rallying the people to do the right thing.
'To lead, you must be able to see first further, and tell people what is unpleasant sometimes,' he said. 'I try to say what's right,' he added. 'Pleasant or unpleasant to me, is not as important as what is right, what is rational.'
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_699673.html
US Debt Crisis: Consequences of the US downgrade
On Friday, Standard & Poor’s announced it would downgrade the credit rating of the United States from AAA to AA+. Before the announcement it was commonly believed that the recent agreement over US debt ceiling would allow the US to avoid such a downgrade. But according to the rating agency, the agreement reached in Washington is “not enough to stabilize the United States’ debt in the medium term.”
In its commentary, the credit rating agency denounced “the gap between the political parties” and the “predictability of the decisions of American policy,” yet in doing so Standard & Poor seems to have fallen into the all too common trap of making a political judgment in the place of a purely economic one. No doubt that politics and economy are intrinsically intertwined, yet the fact that the two other credit agencies have not downgraded their US ratings, signals that Standard & Poor’s may be going out on a limb with their decision, perhaps in an effort to be “ahead of the curve.”
The White House’s indignation is therefore quite understandable: the President had just finished mediating an end to the debt crisis and felt confident announcing to his fellow citizens that the U.S. was finally able to confront the country’s debt issues.
The immediate consequences of S&P’s downgrade:
- Interest rates on U.S. debt will increase. Indeed, investors require higher returns in relation to the higher risk, and this rating is an important risk indicator, although not the only one.
- The fiscal impact could be major: a 1% increase in interest rates would cost $140 billion dollars.
- The confidence of international creditors, and especially central banks, is shaken by this type of development, and will make financing U.S. debt more difficult.
- The dollar is expected to be weaker in the Forex markets.
There are also many international implications emanating from this decision. First and foremost, the announcement comes at a very bad time for America’s strongest allies, the economies of Western Europe. On Friday, the debt risk premium for Italy and Spain increased to one of the largest gaps since the creation of the euro, due to concerns that the two countries could be dragged down by the Euro Zone debt crisis.
In addition, the US’s up and coming global rival, China, is using the announcement to call for the replacement of the dollar with a new global currency (presumably China’s own currency, the Yuan). China seems to be taking this opportunity to shake global confidence in the US economy, while also seeking to deflect ongoing US criticism that the Chinese artificially undervalue their currency to cheapen the price of Chinese exports.
During this climate of significant weakness in both the European and American stock exchanges, we could see a panic reaction this week in the Western markets. After a 10% drop of the Dow Jones in two weeks, the worst might be yet to come. Yet do not mistake current European weakness with the long-term ascendancy of China. In depth economic analyses continue to show that the Chinese economic model is unsustainable and China may be in for some serious crises of its own in the near future.
On Friday, Standard & Poor’s announced it would downgrade the credit rating of the United States from AAA to AA+. Before the announcement it was commonly believed that the recent agreement over US debt ceiling would allow the US to avoid such a downgrade. But according to the rating agency, the agreement reached in Washington is “not enough to stabilize the United States’ debt in the medium term.”
In its commentary, the credit rating agency denounced “the gap between the political parties” and the “predictability of the decisions of American policy,” yet in doing so Standard & Poor seems to have fallen into the all too common trap of making a political judgment in the place of a purely economic one. No doubt that politics and economy are intrinsically intertwined, yet the fact that the two other credit agencies have not downgraded their US ratings, signals that Standard & Poor’s may be going out on a limb with their decision, perhaps in an effort to be “ahead of the curve.”
The White House’s indignation is therefore quite understandable: the President had just finished mediating an end to the debt crisis and felt confident announcing to his fellow citizens that the U.S. was finally able to confront the country’s debt issues.
The immediate consequences of S&P’s downgrade:
- Interest rates on U.S. debt will increase. Indeed, investors require higher returns in relation to the higher risk, and this rating is an important risk indicator, although not the only one.
- The fiscal impact could be major: a 1% increase in interest rates would cost $140 billion dollars.
- The confidence of international creditors, and especially central banks, is shaken by this type of development, and will make financing U.S. debt more difficult.
- The dollar is expected to be weaker in the Forex markets.
There are also many international implications emanating from this decision. First and foremost, the announcement comes at a very bad time for America’s strongest allies, the economies of Western Europe. On Friday, the debt risk premium for Italy and Spain increased to one of the largest gaps since the creation of the euro, due to concerns that the two countries could be dragged down by the Euro Zone debt crisis.
In addition, the US’s up and coming global rival, China, is using the announcement to call for the replacement of the dollar with a new global currency (presumably China’s own currency, the Yuan). China seems to be taking this opportunity to shake global confidence in the US economy, while also seeking to deflect ongoing US criticism that the Chinese artificially undervalue their currency to cheapen the price of Chinese exports.
During this climate of significant weakness in both the European and American stock exchanges, we could see a panic reaction this week in the Western markets. After a 10% drop of the Dow Jones in two weeks, the worst might be yet to come. Yet do not mistake current European weakness with the long-term ascendancy of China. In depth economic analyses continue to show that the Chinese economic model is unsustainable and China may be in for some serious crises of its own in the near future.
Traders on the NYSE floor react to S&P downgrade
Michelle Conlin, AP Business Writer, On Monday August 8, 2011, 6:54 pm EDT
August is usually a slow month for the market. On the floor of the New York Stock Exchange, it's vacation season. Things slow down. Traders take a breath.
Not this summer.
On Monday morning, traders, still looking bleary-eyed and shocked from last week's sharp declines, said they hadn't slept well Sunday night. The line at the Starbucks on the Exchange's floor was especially long. They knew they were in for a grueling day -- the first time stocks would trade in the U.S. since Standard & Poor's downgraded the government's long-term debt Friday night.
Seconds before the market opened at 9:30, traders engaged in some clapping. But then the market opened and the Dow Jones industrial average dropped 250 points. The boards hanging above the Exchange floor that are akin to a scoreboard in a sports arena went red.
As the day ground on, it would only get worse.
By the end of the trading, the Dow Jones industrial average fell 634.76. In 112 years, only five other days had worse point drops.
Art Cashin, floor director at UBS Securities, who has worked on the floor of the Exchange for 50 of those years, likened Monday to watching a patient recovering from chest pain as he putters down the street. "You wait as they catch their breath, and see if they can walk on," he said. "But the symptoms are really concerning."
Outside the Exchange's historic stone facade, a mob of tourists snapped pictures as if its Gothic doors were about to give way to a Justin Bieber sighting. Inside, the press gallery was packed with international journalists. They'd been flown in over the weekend by news outlets all over the world to cover the U.S. meltdown, or what some were dubbing "Stockpocalypse."
On the floor, traders talked about the past -- the crash in 1987 and the dizzying dips that came after September 11, 2001 and the 2008 meltdown. The recent declines don't compare with those, they said. But they still couldn't help but betray their nerves.
"It's a perfect storm," said Allan Valdes, director of floor trading at DME Securities. "American's love a silver bullet. But it's going to be a long time before we get out of this. This could go on for 10 years."
Last week's crash, in which the market experienced its worst slide since the financial crisis of 2008, was followed by more bad news after Friday's close. For the first time in history, credit rating agency Standard and Poor's "put a downgrade on America," as many traders described it. The agency removed the country's perfect AAA credit rating, and replaced it with one that is a notch lower, AA+. The country had held the AAA rating since 1917.
For many traders, it felt symbolic of a new world order.
Global markets are more interlinked then they ever have been before. As a whole, companies in the Standard & Poor's 500 index now reap half their profits overseas. Europe's debt crisis, which has hammered Ireland and Greece, now threatens to spread, domino-like, to Spain and Italy. Still-developing countries like Brazil and China are no longer the engine of growth they have been since the financial crisis.
Add to that slowing economic growth in the U.S. and an unemployment rate of more than 9 percent. Then, the downgrade, which reflects the gridlock of reducing a debt that exceeds $14.2 trillion and has nations like China scolding Americans to shed their credit-addicted ways.
What makes the situation even worse, traders said, is at the very time the markets need the U.S. to be seen as a decisive, bold leader, lawmakers instead have acted dysfunctional stumblebums, traders said.
President Obama defended the country's credit-worthiness in a televised speech to the nation mid-day Monday. It was broadcast at the Exchange. Afterwards, the Dow plunged again and was down 600 points or more, further reflecting the investing world's lack of confidence in what one trader called the "gridlocked circus" of Washington, D.C.
"It has a huge psychological impact," said Doreen Mogavero, founder of trading firm Mogavero, Lee & Co. "It erodes confidence."
Some traders fear the sell-off might not be over.
"We have not seen that bottom yet," said Jonathan Corpina, a trader with Meridian Equity Partners. "When you get hit like this, everyone's going to get hit by it."
http://finance.yahoo.com/news/Trade...9.html?x=0&sec=topStories&pos=7&asset=&ccode=
I thought earlier response from the Garment that President has no say and can only follow garment's instruction? President don't even have a voice on temasek issue! How is it then that TT can lead in directing Singapore out of recession?
Further more, Singapore recovered from both 1985 and 1998 recession because of singaporeans' perseverence and had nothing to do with the Garment, let alone TT. As far as I recall, the Garment only put the blame on everything else so that the fingers don't point to them during bad times and quick to claim credit when market reversed.
Just look at all the failed ventures (such as the collapse of electronic industry, the biomedial fiascal, etc) and you know their "contribution".
Further more, Singapore recovered from both 1985 and 1998 recession because of singaporeans' perseverence and had nothing to do with the Garment, let alone TT. As far as I recall, the Garment only put the blame on everything else so that the fingers don't point to them during bad times and quick to claim credit when market reversed.
Just look at all the failed ventures (such as the collapse of electronic industry, the biomedial fiascal, etc) and you know their "contribution".
My property agent informed me he see a surge of condo owners inquire to sell their condo. This is a bad sign. I think Tony Tan is being honest. Anyone else encounter something similiar?
When a storm is coming, the property agents, stock brokers tend to foresee because they deal with the mega rich elite, who have the advantage to receive first hand information compared to peasants like us. You may call it legal insider trading.
I suspect PAP anticipated the crisis and timed the elections before the storm.
When a storm is coming, the property agents, stock brokers tend to foresee because they deal with the mega rich elite, who have the advantage to receive first hand information compared to peasants like us. You may call it legal insider trading.
I suspect PAP anticipated the crisis and timed the elections before the storm.
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Good lead.
We can do a DIY monitor of the property up for sale here
http://www.propertyguru.com.sg/singapore-property-listing/property-for-sale/1
I am not very internet savvy. Please guide us along.
Good lead.
We can do a DIY monitor of the property up for sale here
http://www.propertyguru.com.sg/singapore-property-listing/property-for-sale/1
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