shareswizard of 10years and still going strong

why ave singaporeans liquid assets still lose to ave hker liquid assets by 60pc?

is it due to this?

why bruno lee says major affluent hker able to capitalise on stock market recovery?what about affluent singaporeans????

did these comments make them blur?????????????????

1.
Straits Times (8 July 2007) - Singapore in a golden period, says MM Lee

The Straits Times

July 8, 2007

TOP OF THE NEWS

Singapore in a golden period, says MM Lee

By Aaron Low

FRAMED against a Saturday night Orchard Road crowd, Minister Mentor Lee Kuan Yew last night sketched a rosy picture of a more vibrant Singapore in five years' time - if it took full advantage of the opportunities now before it.
Investors from developed countries are pouring money into the region and Singapore is enjoying good economic growth and social development.

Economic giant China is pulling in foreign investments of US$70 billion (S$106 billion) and India, US$10 billion a year. Foreign direct investments here have maintained at about S$6 billion to S$7 billion.

The stock markets of some Asean countries have risen by an average of 48 per cent. Asian current accounts are running surpluses with reserves doubling since 2003 to US$2,500 billion.

'If there are no wars or oil crises, this golden period can stretch out over many years,' he said.

The key is having a good government which will get its policies right, to encourage economic growth.

Singapore's economic growth this year will be around 5 per cent to 6 per cent - 'not bad' for a maturing economy with a per capita income of over US$25,000, he said at a Tanjong Pagar GRC event in Ngee Ann City's civic plaza.

'Once you have growth, all problems can be managed. When you have no growth and you have unemployment and no jobs, then all problems become intractable,' he said.

Mr Lee told the sizeable crowd, many of them younger Singaporeans, that they were luckier than him when he was a young man.

'You got the best schools, technical colleges. Nobody is deprived of an education in Singapore and you can go abroad if you do well with bursaries and scholarships.'

He had this message for those in their teens and early 20s: 'You're a generation that is especially blessed. You have ahead of you 10, 15, 20 years.'

Singapore was able to push ahead when China and India adopted wrong economic policies. Although they have recovered and are growing strongly, Singapore is still ahead 'and our job is to stay ahead, and I believe we can'.

Mr Lee said Singapore is in this enviable position today because it had taken 'painful and unpopular measures' after the 1997 Asian financial crisis to get the economy into shape.

The data tells the story: some 9.7 million visitors came here last year; unemployment is at a low 2.9 per cent and 49,000 jobs were created between January and March.

More important, he said, the Government has revised its vision of Singapore - to turn it into a city with a lively night life, a more liberal arts and entertainment scene, the building of the two integrated resorts and the introduction of Formula 1 racing here next year.

'I believe you're going to see a transformation in Singapore. It'll be the most vibrant lively city in this part of the world. And I believe in the next five years, we'll see it evolve.'

aaronl@sph.com.sg

then TATA COMES THE SUBPRIME START

AUGUST9 2007: SG NATIONAL DAY:

WIKIPEDIA:
August 9: French investment bank BNP Paribas suspends three investment funds that invested in subprime mortgage debt,[97] due to a "complete evaporation of liquidity" [98] in the market. The bank's announcement is the first of many credit-loss and write-down announcements by banks, mortgage lenders and other institutional investors, as subprime assets went bad, due to defaults by subprime mortgage payers.[99] This announcement compels the intervention of the European Central Bank, pumping 95 billion euros into the European banking market.[100][101]

then next:

BBC:

Singapore officially in recession

It is Singapore's first recession since 2002
Singapore's economy shrank between July and September, confirming it was the first Asian country in recession in the current financial crisis.


IN MAR 2009....

WHEN MM LEE WAS BEARISH:

Full recovery at least 2 to 3 years away
Mar 21, 2009 - The Straits Times
Clarissa Oon, Senior Political Correspondent
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SINGAPORE will take two to three years to bounce back from the recession - and this is the optimistic scenario that assumes the United States recovers next year. The pessimistic forecast? Five to six years, according to Minister Mentor Lee Kuan Yew,
who spoke last night at the launch of an alumni complex at the National University of Singapore (NUS).

MM Lee, who has been saying that Singapore's recovery hinges on that of the US, believes that the American economy is 'fundamentally sound'. Its
big companies such as General Motors and Chrysler are 'sound' despite their requests for further government aid.

He said he was reassured by US Federal Reserve chairman Ben Bernanke's remarks last month that the economy would pick up by 2010, once
the government's stimulus package frees up lending to households and businesses.

Also, the same reliance on exports that has put Singapore's economy in the doldrums means that once the world's major economies rebound, 'we are going to bounce back'.


MM Lee took issue with criticisms of Singapore's economic model, such as that from a recent Wall Street Journal editorial which said the Republic needed to refocus on the domestic consumption of goods that are now produced for export.

'Four
million people to sustain industries supplying top-end goods to the world? That's rubbish.' Singapore has no choice but to export, he stressed.

What will further stand Singapore in good stead is its free trade agreements with countries such as the
US, Japan, China, Australia and New Zealand, he added.

With such conditions in place, 'if we don't prosper, we're stupid'.

Mr Lee made these points as he shared his thoughts on what Singapore would become in 25 years time, with some 300 alumni,
students and staff of NUS.

Singapore's prosperity would depend not just on its own efforts, but the state of the world a quarter century from now, he said, offering two possible scenarios.

The optimistic one is that the US and a rising China are
on good terms and there is cooperation between Beijing and its neighbours Japan and South Korea.

In this scenario, Singapore and its Asean neighbours will have banded together and achieved the goal of a single market and production base, because
'sooner or later, all the 10 countries will realise, unless we combine our markets we will be sidelined'.

What would be cause for alarm is if there were a clash between the world's major powers such as the US, China, the European Union and Russia,
creating 'a more dangerous Cold War'.

'This does not make for a prosperous world, there will be more arguments, more suspicion' and Singapore 'will not prosper so much' as a result.

In this pessimistic scenario, the Asean Economic Community would
be 'just a name - people are dragging their feet, never fully commit' and each Asean country would be aligned more closely to the big powers than with each other.

The actual outcome, he concluded, is likely to be somewhere in between the two
scenarios he sketched.

Later, in a dialogue, he was asked what would be a viable economic model for Asia as it emerges from the current crisis.

Smaller places such as Singapore, Hong Kong and Taiwan will continue to rely on exports, he said.

As
for China and India, while they have the alternative to eventually build up their economies to where they are less dependent on exports, neither country would be able to completely do away with exports, he said.

He was also asked what would happen to
Singapore if some People's Action Party (PAP) politicians break away to form a new party and take over the Government.

'If you have capable people then I'm not worried.'

Integrity is crucial, he added, as are ability, experience and willingness to
do things for the people.

However, he did not believe the country with its small population could sustain a two-party system as the PAP already has 'to scour the whole country to find the quality we now have'.

'You need character, commitment,
drive and (the) ability to connect with people. It's a very tough job.'


I WAS VERY BULLISH.......LOOK AT THE TIMINGS!!!!

Singapore out of recession


Tue, Oct 13, 2009
my paper



THE economy of Singapore grew by an estimated 0.8 per cent in the three months to September from a year ago, reinforcing the country's recovery from recession, official figures showed yesterday.

It was the country's first year-on-year expansion in five quarters and was based on July and August data. The estimate is expected to be revised when the full September numbers are available next month.

'A clear but modest recovery is underway globally, at least for the next three or four quarters,' theMinistry of Trade and Industry (MTI) said in a statement.



The Government upgraded its full-year growth forecast to a contraction of 2-2.5 per cent - a significant improvement from the previous estimate of a 4-6 per cent contraction.

'One-off factors such as restocking activities and fiscal stimulus measures will continue to support growth in the near term,' MTI said.

However, it cautioned that economic activity will 'probably remain below pre-crisis levels' because of the drag on demand in the developed economies.

On a seasonally adjusted quarter-on-quarter annualised basis, GDP surged 14.9 per cent following a 22 per cent expansion in the second quarter to June, said MTI. It was the second successive quarter-on-quarter growth period.

'Growth was driven by the continued expansion of biomedical and electronics manufacturing output, and improvements in the trade-related and tourism sectors...on the back of a gradual stabilisation in global economic conditions,' MTI said.

Mr Song Seng Wun, regional economist with CIMB-GK Research, said Singapore was 'firmly out of recession' with GDP expanding in the third quarter.

Singapore sank into recession in the second quarter of last year, hurt by falling demand for its exports in major markets.



MY BEST REVERSE INDICATOR..I WILL TELL MY KIDS IN FUTURE...

REVERSE INDICATOR ALWAYS WORKS!!