Who else is hoping for a jia lak recession with the 1997 kind of scale to come soon?

[davidtkl76]

2008 one more jialat.

 

[tamago_]

U so old?

Nope, but there’s a lot of data online, archived newspapers and stories retold by elders about our history as a nation. You can look at the interest rates during those times, the belt tightening measures and the fact that it was much easier to sell assets left behind by the British in 1971-2 (and not 1973). The last time I saw a bigger spike in interest rates was HKMA raising overnight rate to 280% on 23 Oct 1997.

 

[8zaoyu]

Nope, but I lived through it as a primary school student. I go out alone since kindergarten taking buses and MRT, I read newspapers everyday at that age and I was able to observe what happened out there. And I attended WP’s rally for Cheng San GRC as a primary school kid too, looking at JBJ from the front row?

Those who were born just before 1965, might have attended Barison Socialist Kindergarten.
Our current PM is born in 1972 ? may have to read Singapore History Books.
The rest of us hardly read books, only surf here in EDMW to pass time. 天 塌 下 来 当 被 盖
Everything happens elsewhere, not even my backyard, too spoilt.

 

[tamago_]

2008 one more jialat.

2008 is more indirect, but yeah some of our industries were affected, especially those related to the US. The real sucker was the sudden recovery after that that led to runaway inflation. Prices for many commodities rose, leading to imported inflation for basic items. That’s a recipe for disaster, as seen in the 2022-2024 global inflation.

HDB built less flats in 2008 (online says 3,143 incl commercial properties) due to the weak economy, only to face cost inflation as it ramped up its building programme in competition with other construction resources, while homeseekers started to panic as prices rose quickly and everyone wants to get hold of a flat before they get priced out. This panic happened in 1982-1984 and again in the early 1990’s.

2011 was a mega year of unhappiness amidst sky-high inflation and the Government was bitten thinking it can build far less HDB during recessions (interestingly they were bitten in 1997-1999 for having built too much). The 2011 GE results reflected it.

The post-2008 subprime recovery was similar to the post-1985 recovery as well as in 2022 (post-COVID), even though the sentiments were different as the circumstances and greater environment were not the same.

 

[ThisIsSparta]

of course

we fat useless smelly jobless people have nothing to lose in recession

we will continue to drag others down with us for as long as we can, so people know about us useless losers

 

[alvin98]

Recession only for edmw.

 

[tamago_]

Those who were born just before 1965, might have attended Barison Socialist Kindergarten.
Our current PM is born in 1972 ? may have to read Singapore History Books.
The rest of us hardly read books, only surf here in EDMW to pass time. 天 塌 下 来 当 被 盖
Everything happens elsewhere, not even my backyard, too spoilt.

Singaporean must read Singapore history la. For the 1970’s generation, the 10 years leading up to 1997 were really the golden years of that era. The economy was booming, and everybody was doing well. We had time to build up the arts scene, be more creative and nurture a gracious society.

The vision of the current generation now would be to re-create another golden era, something very different from the last decade.

 

[jericho75]

2008 one more jialat.

2008 one is chicken feet lor.

 

[NintendoSwitch]

Then see if papaya will save sinkies like they promised to do so during erection?

Soros is too busy fighting Trump yo trigger another Asian Financial Crisis.

 

[NintendoSwitch]

Singaporean must read Singapore history la. For the 1970’s generation, the 10 years leading up to 1997 were really the golden years of that era. The economy was booming, and everybody was doing well. We had time to build up the arts scene, be more creative and nurture a gracious society.

The vision of the current generation now would be to re-create another golden era, something very different from the last decade.

The good times never ended for the elites. And they don't care.

 

[jericho75]

Soros is too busy fighting Trump yo trigger another Asian Financial Crisis.

soros too old liao. his buddy cow swap also tio pok liao

 

[8zaoyu]

The good times never ended for the elites. And they don't care.

If elites having FH properties, then good times might not end,
most 99 LH here, even 2 room HDB also got 99LH, got good times, got bad times, just 笑傲江湖 lah.

 

[coolhead]

If we want a 1997 style recession now, it'll be quite jialat. Companies being forced to cut cost will accelerate the effects of structural unemployment due to AI/ML.

Private hire drivers, call centres, SWE etc.

Not fun guys.

 

[keewee0415]

Aiya, there are many here who are wishing for someone with the balls to push the reset button (if there's one) and everybody starts from jiro.

 

[boredom2012]

https://vt.tiktok.com/ZShm6QgUF/

Even merchant also say cdc voucher help people spend

 

[hachi]

Then see if papaya will save sinkies like they promised to do so during erection?

Any reason for that, life not hard enough?

 

[hachi]

Agreed. Imagine the East Asian economies were flying for a decade before the 1997 crash, and students who grew up in that swinging 90’s expecting a better life ahead, only to start their working life during this lull period with lower starting salaries, which has impacted them throughout their career (as it was harder to climb the salary ladder). NUS grads were only getting $2k+ or so, as there were not many good jobs to go around.

Many continued to resent the Government to this date for not helping them, which I feel is totally reflected in the voting patterns for Sengkang GRC.

But what to do? With every recession being very different, the Govt can only learn and improvise. It was so hard to predict what form would the next recession come in.

Yes my AM, she was from NUS and good sec, graduated 2000, 2.2k starting pay.

 

[hachi]

edmwers one day don't cry for crash cannot sleep.

Dont understand why.. If life so hard, then go scammer camp, simple. Why so many here so weird?

 

[cosmothecat]

Recession only happens in edmw

Stock markets worldwide now going up

 

[tamago_]

This is a good video of how HDB switched to BTO as they faced 31,000 unsold flats as flatowners faced negative equity while buyers simply dropped out of the HDB queue.