WL canceling their cards indication of Singapore jiatlat economy?

[tikogeek]

Lots of WL are canceling their cards, cos biz is slow... Is this an strong indicator that our economy is going south?

[Nato17]

Originally Posted by tikogeek

Lots of WL are canceling their cards, cos biz is slow... Is this an strong indicator that our economy is going south?

It is an indicator for sure. However, whether it is strong or not, I think that is debateable.

The issue is that inflation has caught up with us totally unexpected in a lot of ways. And a lot of sinkie's have been caught unaware. Ok, maybe not totally unaware but a lot of people have been caught with their pants down. The good part is because a lot of Sinkie's have brought properties, that has helped avert a lot of issues at the same time. But time will definitely catch up with us even for those who have brought properties hedging on inflation.

For those brothers who are older, they will remember that $50 could go someways. I don't like to use cash per say, as in I value things in terms of gold, silver and even cigarettes or cans of drinks. For example, 2 years ago, I can buy 33 cans of drinks at 7-11, however today, I can only buy about 20 cans of drinks, which is essentially an indicator that things have gone up tremendously. Hence our local population is definitely feeling the pressure. I think that in turn is definitely affecting cheonging.

Also, here is the thing, previously, you can cheong in PRC for less than $200 SGD. Now, in PRC, in a KTV, that cost about $200 just for a one shot. How to not affect cheonging lei?

[tikogeek]

LiLi of L16H15 cancel her card on wed and left for Fushui on thursday... yesterday night I spoke to wei wei of L8H19 she canceling her card next month, going home to Xian, so I reckon biz is pretty slow...

[AsianLover]

Perhaps economy too good, too many WLs kena bao-ed? Thats why go back? No matter how bad business is, you still earn quite a lot of money in PRC terms.

[tikogeek]

Originally Posted by AsianLover

Perhaps economy too good, too many WLs kena bao-ed? Thats why go back? No matter how bad business is, you still earn quite a lot of money in PRC terms.

last friday, I attended private fund raising, minister says privately, we are must prepare for recession

so I reckon WLs are better indicators than stock indices and property markets

[unfit]

Originally Posted by tikogeek

Lots of WL are canceling their cards, cos biz is slow... Is this an strong indicator that our economy is going south?

But if South then why now got Sky High COE and HDB leh...???

[googlibong220]

going by sbf postings, biz in gl is sharply polarised, prcs r quiet, thais boom(boom)ing, punters r obviously downgrading. Whether it's cyclical or secular trend is debatable ie will we see prc houses converting to thais, the reverse of the previous 4yr. Similar to our economy, construction & oil doing well, banking & manufacturing retrenching. We're approaching the annual pre-cny exodus anyway & with 300+ prcs now, the no of departures next 2 months of course is hi, 3g gals prob figure they've earned enough. Good for cheongsters, i haven't seen so many eager to please pretty, hi gfe, gd service prc 4g angpais waiting for customers since 1g days, they're humbler now than 3g batch.

[torrokey]

definitely going south. 2013 will be a very bad year.

Many of my friends and relatives got retrenched silently. Think more companies are going to layoff ppl in the next 2 months before the chinese new year.

If you walk around, you'll notice that many F&B stores in singapore right now are having a drop in business, even for the good ones.

Many stalls in food centres everywhere in singapore have the "For Rent" sign.

High COEs is because of very few certs issued each month and pushed up to the new heights due to the wealth of relatively few ppl, esp the foreigners.

Majority of the ppl are poor, actually.

Originally Posted by tikogeek

Lots of WL are canceling their cards, cos biz is slow... Is this an strong indicator that our economy is going south?

[1bbcd5]

Think I may be in love with this.

[Troika69]

I think the fact is that PRC GL gals can earn much more back home than in sg, good days are over liao here

[sgdiscreethunk]

Nato17,
Agree with you totally!
Love your analogy on how we can our cheonging ability.
The only thing that goes UP and we are still happy is our rep pts. Haha!

Originally Posted by Nato17

It is an indicator for sure. However, whether it is strong or not, I think that is debateable.

The issue is that inflation has caught up with us totally unexpected in a lot of ways. And a lot of sinkie's have been caught unaware. Ok, maybe not totally unaware but a lot of people have been caught with their pants down. The good part is because a lot of Sinkie's have brought properties, that has helped avert a lot of issues at the same time. But time will definitely catch up with us even for those who have brought properties hedging on inflation.

For those brothers who are older, they will remember that $50 could go someways. I don't like to use cash per say, as in I value things in terms of gold, silver and even cigarettes or cans of drinks. For example, 2 years ago, I can buy 33 cans of drinks at 7-11, however today, I can only buy about 20 cans of drinks, which is essentially an indicator that things have gone up tremendously. Hence our local population is definitely feeling the pressure. I think that in turn is definitely affecting cheonging.

Also, here is the thing, previously, you can cheong in PRC for less than $200 SGD. Now, in PRC, in a KTV, that cost about $200 just for a one shot. How to not affect cheonging lei?

[jameschong1]

[QUOTE=tikogeek;8125918]last friday, I attended private fund raising, minister says privately, we are must prepare for recession
=======
u also property consultant? if not how come got chance to talk to minister?
Property stll doing well, will continue to lead economy good

[ErnestK]

Originally Posted by sgdiscreethunk

Nato17,
Agree with you totally!
Love your analogy on how we can our cheonging ability.
The only thing that goes UP and we are still happy is our rep pts. Haha!

I'm happy that everyday my dick can still go up.

[Nato17]

Originally Posted by ErnestK

I'm happy that everyday my dick can still go up.

I am glad your dick can still marikita. Stand up for singapore, do the best we can....

[Nato17]

Originally Posted by torrokey

definitely going south. 2013 will be a very bad year.

Many of my friends and relatives got retrenched silently. Think more companies are going to layoff ppl in the next 2 months before the chinese new year.

If you walk around, you'll notice that many F&B stores in singapore right now are having a drop in business, even for the good ones.

Many stalls in food centres everywhere in singapore have the "For Rent" sign.

High COEs is because of very few certs issued each month and pushed up to the new heights due to the wealth of relatively few ppl, esp the foreigners.

Majority of the ppl are poor, actually.

I concur with you on a lot of points. COEs are high because of people bidding for the low amount COEs issued. The FTs don't buy so many cars high end cars but they definitely cause problems for the locals by adding to demand.