SINGAPORE has slipped into recession and the Government has revised its 2008 growth forecast to around 3 per cent from a previous estimate of 4 to 5 per cent.
The economy shrank at an annualised, seasonally adjusted rate of 6.3 per cent in the third quarter, according to third quarter advance estimates released by the Ministry of Trade and Industry on Friday morning, pushing the export-dependent economy into its first recession since 2002.

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Oh! So who are these economists who just 2 days ago predict that S'pore may avoid recession, huh?

Recession no? Only fools dare guarantee no recession or recession proof, isn't it? An economy of a nation is like a human body.

The flu has no borders when it attack humans. If the inside is weak and vitality poor, the flu germs attack and stay in the body and the germs spread and multiply very fast.

The economy dive goes at light speed. The computers could go up in smoke not able to handle. Could be told jam and chaos.

ST Index fell 7.3% at opening this morning.

With stocks, shares and properties going dive dive dive, which are the banks dare to call on clients to top up the value of their guarantees and margin calls?

When and how will the house of Capitalism fall and collapse into a Heap? I ask repeatedly. Think, and think even harder.

Need to coin a better word than Plunge, Collapse, Fall, Crash, etc. isn't it when Capitalism goes into a Heap, isn't it?

Be ready guys. The roller coaster ride is a long and bumpy one. Be ready if there is a crash landing into a Heap.

It can be a steep dive taking more than 12 seconds to dive down 6000 feet that the Qantas jet did two days ago on a flight from RD to Perth.

The economic dive could be just as super fast and steep. Hold on. It is all driven by Greed, Lust, Corruption and MM driven desires, isn't it and now by Fear, Doubts, Uncertainties and Desperation.

All are suffering. Super Deadlocks and Deadends.

Lim Hng Kiang said no recession while Tharman said "maybe" whilst Lee Kuan Yew said we're in a Golden Era. They're all wrong. We should be worried when we have people like this running our country.

It's time for the MIWs to review financial policies : 1) lower the ERP charges and scrap the evening ERP charges to lessen the burden for those who hv no choice but to use these ERP controlled roads. Alto lesser $$$ for the gahmen but it REALY will help businessmen and traders to cope with the already dwindling business activities. 2) reduce rental for govt/stat board leased facilities/factories/buildings to lessen the burden of tenants. Nowadays, most tenants/leasees are struggling to make ends meet. Dont wait until they cannot tahan and jump from the Pinnacle@Duxton b4 taking action.

This recession will be with RD for some time. The PILE OF SH*T which orginated in US is too MESSY and HUGE for global effort to clean and clear in the short period. Right now in RD we need clear policies to help us ride over the financial meltdown, NOT MAR BO POLICIE$$$$$$$$$$!!!

"We should be worried when we have people like this running our country."

They were dealing with and referring to the Unseen when they made the pronouncements, isn't it?

No humans can beat the Unseen. Period.

If humans do not respect the Unseen [including the future in time], mankind will continue to suffer endlessly.

With the economic data now released, tt's quite obvious that many politicians like Mr LKY and Lim Hng Kiang were wrong in their predictions. But, I will try to be understanding here.

Our Labour Chief, Mr Lim Swee Say, says that wage cuts are likely now. This makes me wonder: Isn't it time too that our ministers and top civil servants had their wage cuts too? Is it moral for our ministers and top civil servants to bask in wealth, while the lower middle income earners and the poor are reeling from the adverse effects of the recession? Besides, we have seen that despite increasing the already high pay of our ministers and top civil servants, they can't do anything more extraordinary than the ministers of other countries. The economic data turned out to be worse than expected, not even within expectations.

http://sg.news.yahoo.com/rtrs/200810...r-c3bb44c.html

If recession, should be -3% growth!

It is Greed, Lust, Corruption and MM driven desires that will bring all even deeper and deeper into darkness, not into the light. Never.

Soon or later we will experience it. We cannot run away from the crisis.