So are you guys worried about this? Oh, sure a lot of us aren’t really interested in buying shares and stocks and all those and yes, it is a rich man’s game but in the end, it will still affect us. Why? Because everything is interconnected somehow. Especially when it comes to money. And when the rich gets burnt (and of course a lot of smaller investors too), the effects can still be felt from the ground. When investors start to tighten their purse strings, that simply means that less money will flow into our economy. And when banks too start to reduce their risks, it also means that there is less money to spread around. That’s a major problem for Singapore’s economy which is very dependent on foreign and local investments.

So I guess we will all be affected. Especially in Singapore where the businesses and employers are famous for being miserly and also famous for being greedy and selfish with no responsibility to the public, it will only be worst. For the past decade or so, foreign labour have been replacing Singaporeans on all sectors of our economy. In the recent years, this trend has accelerated to the point where they are everywhere in Singapore. So, if you are a Singaporean and you are not one of the elites, it is time for you to consider your opinions and start saving money. The government is not going to help you one bit. You will have to expect a higher cost of living without an increase in your salary.  Seriously, if your salary doesn’t fall, you should consider yourself lucky. Employers in Singapore will take very opportunity to cut corners and using the current economic environment is the most convenient.

Well, what to do? Just take it and hope for the best. A recession is coming very soon. We can’t do anything about it. We just have to live through it.