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dig into reserve ??? hmm...tricky qn...is it due to
Merilyn + UBS + Australia edu co. bankruptcy + CITIBANK = US$25b paperloss or eventual "realised" loss the reason ???
oops....ok to be fair in comparision....
we sold 3x Power Generation house = 2 + 3 + 2 = US$8b
so Net loss = US$25b - US$8b = US$17b !!! <-- is this the reason ?!??! :P
will pls someone correct me if i am wrong ??? :)
big E comimg?
Thee is a limit to deficit spending and I reckon there is no silver bullet for the economic malaise. I think the budget will aim at creating and preserving jobs, help defray business cost and in short cushion the impact of the economic fallout. Perhaps they should look at how Ireland is handling the crisis.
Been seeing increasing old people on wheel chairs at AK areas. Reduce maid revvy, increases medical subsidies for the poor and reduces HDB rental rate, one room flat, for d lonely n needy.
Hi...
I agree with you. When times are bad, increase in govt spending is necessary to promote economic growth... Hence a budget deficit is necessary. But Singapore Govt could have no choice. If unemployment is too high, there will be social unrest and can lead to an increase in crime rates... coz the basic needs of an individual are not met....
And when u so much social unrest... foreign investors will pull out... making the situation worse..
Hence i feel it is important for the singapore govt to create and save as many jobs as possible..
nextdoor ( Date: 18-Jan-2009 23:34) Posted:
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I want to add, if our govt is digging into our reserve, it MUST be something very bad coming our way! When retrenchement kicks in, HDB prices starts\ to fall, unemployment start to rise, Sing dollar starts to fall...and so on...many will be affected..for a long time!
Because they are seeing what we don't? Any insight? This is real...
