PRIME Minister Lee Hsien Loong does not foresee a global depression despite the current financial storm sweeping the world.

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Depression already here lah . . . U.S. already shed 533,000 jobs in November . . more than 1.2 million jobds lost in last 3 months . . .this figure doesn't include the millions of job cuts if General Motors forced into Chapter 7 liquidation . .

Someone said Bush is going to pass some sh!t to Obama before he steps down.

I agree with myotosan, depression already here. Look at the papers everyday. Everyday you hear of job losses, retrenchment and hiring freeze.

Our PM; MM & Ministers are all GOD.
They can make things happen. So believe them whatever they say. NO WORLDWIDE DEPRESSION. We have TEMASEK, GIC GLC etc.

Can't comprehend their lingos?No global depression means what?World recessions means what?
One min says we must prepare for the coming recessions,the next min no global depressions.What will they be talking about next?Was there a slur in his speech?Just like GB not too long ago?Then what the hack Tamasek is starting to shed their loads?In trouble?Going down?Where's the trasparency?Is the Sing$ sliding?
What's going on?Can we have some enlightenments from gahman?

no global recessions means some countries are still relatively unaffected eg. Fiji, Samoa, Palau, Solomon Islands and so on.

and some sectors are also less affected eg. debt collection, pawn shops, shops selling second hand items

and also some people entirely unaffected by retrenchment eg. PM, MPs and so on

PM said no global depression but the caption was incomplete because we are all expecting a global recession. Depression is the worst scenario so when we are only having a recession means someone is doing a good job even when we are in slow growth or no growth.

aiya... dont complaint... gotta be objective too... since all of us still can afford the time to sit in front of the PC & type complaints & continue to slam the govt means we are still ok... so why complaint???

PRIME Minister Lee Hsien Loong does not foresee a global depression......

Sure or not..... accurate or not.....

Me still remember SM Goh forecasted..... "Swiss standard of living" or "more good years"...... or most recently our wise MM Lee "golden period"!

Have SM Goh and MM Lee foresee/forecast came true?

there could be a good chance of US entering into a 'depression' next year. tell tale signs are similiar to the great one. banks are propped up with massive cash infusion but the bailout are not supported by basic fundamentals. asia looks good and should work together. it's not a credit crunch, lending standards restored to common sense level. might take awhile for businesses to restructure to it.