Effectively, the recession in Singapore is over.
Ravi Menon, permanent secretary with the Ministry of Trade and Industry.
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Let me guess what will happen next…People like LSS will pop out, blow his own trumpet and declare that this is due to MIW and MIW’s foresight….oh, and it will happen right before GE
GE’s a-coming man…you can smell it in the air and the ST..
nothing but good news over the past few days.
i just hope they have the good sense to hold it after march.
Good, my bonuses are pegged to GDP. By the way my pay, even without bonuses, are already high.
Heehee.
Is this announcement made to justify their year-end MILLION DOLLARS BONUSES ?!
Rubbish, many of us are still reeling from the brunt of the downturn and unemployment is still on the rise. Where did they get their figures from ? From another state funded survey done by their cronies ?
Over??
And so they think it fit to increase Property Tax lah..!
please… LSS .. please.. just s-h-u-t UP!
just…just…just… shhhh..uuut UP!!!
Recession is over?
So that Ministers and Top Civil Servants from the Admin Service can start to pay themselves hefty bonuses again?
Most of the people at the lower and middle income groups are still not feeling anything about the economy getting better. It is only the MSM with some self-appointed experts trying to throw red herrings every now and then.
So, who are you kidding, PS for MTI? Treating Singaporeans as fools?
Guys, we got to reassess the statement that was released.
Simple deduction would be to question its validity, at face value, the quote if were to ring true, would not be just passed over to an unknown for him to make such a statement. A relatively unknown person such as a permanent secretary is merely a bureaucrat, with at most an elite status. We need someone with the authority and the moral standing of a greater mortal, such as MM, SM or even PM to do it. The reason being that they can bring the message across with greater alacrity.
Furthermore, with more dissection of the whole quote, we have to take note of the term “effectively”. This term speaks volumes over the whole gunk of words that were used for the sentence. To know how effectively, we must ask ourselves, how is this used in context or where was the effectiveness derived. I cannot deny that this term should have damning consequences, for if it had a value in it, the sentence might have just as easily read, “The recession is over!” Yes my friends, with an exclamation mark to effect the emphasis on the celebratory mood (however, we should remember not to be complacent)
And the omission of another word to which it might have increased the euphoria, this word finally, should have found its way into the sentence too. Imagine the goodwill it would create to have it read as “The recession is finally over!”
It brings with it hope, aspirations, the feeling that we had hit rock bottom, relief that the good times are coming and lastly the joy that we had made it through.
As I have stated earlier, we need a messenger who would be able to communicate effectively and that there would be a clear picture. Not to have so many conflicting ideas that next year’s outlook is -3% growth or that the global economy will stagnate if monetary stimulus is removed thus affecting Singapore’s economy. I wonder if it might be as like the 3 blind men who for the 1st time “touched” an elephant getting different views of the same thing. Only in retrospect we the readers realise that by synthesising all of their views we might get the “correct” picture.
I am curious if it actual fact, the message is as follows, “effectively the recession is finally over, in terms of amounts of GDP we will reflect a positive percentage of growth (high immigration helped us there),moreover the NTUC tripartite status and the JCS cushioned the impact of retrenchment. However, the economy due to the removal of various stimulus might contract by 3% though not amounting to an overall reduction to -3%”
And I might as well add, that we might be getting someone of greater mortal status reading this statement out and thereby giving us the whole unadulterated truth.
Curious
How the recession started in the first place – blame it on USA and EUROPE!
How do we recover – the wisdom of the MIW!
Listen people…the worst is yet to come
What we have seen since March this year is just a powerful
rebound of a very deep financial crash which has its beginning
in October 2007. This recovery is at its terminal end before the
start of a down-wave which may last for as long as 24 months.
This will be the event of the last 100 years where the bubble
in CREDITS will be wipe off meaning all classes of assets
like properties, shares and generally “investments” will fall like a
rock – a BIG ROCK this time round.
Sorry for this unwelcome news – but don’t listen to economists
because they are looking at history and they try to tell you the
future. Politicians will add colors to this projections and claim
they were the architects!
its over for the papist for us the fat lady will never appear
Public debt in the developed countries is at an all time high. The fiscal stimulus measures they have introduced also will have to be paid for eventually.
I foresee that it will be a long and bumpy ride to a full recovery.