Economy slowdown - Page 15

Steadyman1 · #**211** 16-09-2008, 07:48 PM

Quote:

Originally Posted by havana

Not soda biscuit box meh?

Yes Soda biscuit for adult mah... That time I was still small mah... so use smaller tin like 555 mah..

Steadyman1 · #**212** 16-09-2008, 07:49 PM

Quote:

Originally Posted by havana

Jia luck liao!!!!

My agent dont know run where hiding already!!!!!!! Couldnt contact him.......

Battery might be flat...

havana · #**213** 16-09-2008, 08:02 PM

Quote:

Originally Posted by Steadyman1

Battery might be flat...

Yah. Just manage to contact him...He told me not to worry....Anyway I have sold my cpf investment beforehand to pay for my house. Heng ah

If not the value will dip further south......

Steadyman1 · #**214** 16-09-2008, 08:30 PM

Quote:

Originally Posted by havana

Yah. Just manage to contact him...He told me not to worry....Anyway I have sold my cpf investment beforehand to pay for my house. Heng ah

If not the value will dip further south......

Ya.. Property will soon also be affected. Once reachs bottom, it will be the best time to get in again. So best place to park your fund still in CPF.

Heart Break Kid · #**215** 16-09-2008, 09:00 PM

After this crisis ..nobody want buy insurance policies anymore and no one want to become insurance agents.

Haiz

money keep inside POSB saving accounts is the safest now.

havana · #**216** 16-09-2008, 09:42 PM

Quote:

Originally Posted by Steadyman1

Ya.. Property will soon also be affected. Once reachs bottom, it will be the best time to get in again. So best place to park your fund still in CPF.

Property wont get affected so soon....Singapore need a lot of manpower for the coming 2 IR....Thus there is still a demand for housing....

It will only drop if the IR CMI

..... By then Singapore will be in deep shit!!!!!!

playboy82 · #**217** 16-09-2008, 09:54 PM

hmm.. hearing all the old birds advice.. i suddenly think of something..
we all put our savings in Banks like OUB, CitiBank, OCBC... cos of higher interest.. just wana ask what will happen to our saving if the bank close down..?
I have once heard from someone that Banks will not go down no matter what, worst come to worst, they will merge with another bank.. is this true?

havana · #**218** 16-09-2008, 10:00 PM

Dont believe them....

playboy82 · #**219** 16-09-2008, 11:15 PM

Quote:

Originally Posted by havana

Dont believe them....

what u mean? dun scare me leh..lol
i have savings in Citibank leh..

[B]el|eve · #**220** 16-09-2008, 11:22 PM

hi,
i dun tink banks in sg will close down. cos MAS has a strict regulation for them. somemore sg wanna be financial hub. the govt die die wun let any bank here close dwn. so i tink we are quite safe.

havana · #**221** 16-09-2008, 11:32 PM

Quote:

Originally Posted by [B]el|eve

hi,
i dun tink banks in sg will close down. cos MAS has a strict regulation for them. somemore sg wanna be financial hub. the govt die die wun let any bank here close dwn. so i tink we are quite safe.

Dont speak so fast

If bank would to close down, only the first $20000 of your saving will be secured

(If my memory never fail me)

topcook1 · #**222** 16-09-2008, 11:33 PM

Quote:

Originally Posted by havana

Jia luck liao!!!!

My agent dont know run where hiding already!!!!!!! Couldnt contact him.......

Most prob he has quit this line long time ago coz is tough very nowadays. Lots of regulations and guidelines to follow.

havana · #**223** 16-09-2008, 11:55 PM

Thanks! Managed to contact him. He tell me not to worry

hamlinlau · #**224** 17-09-2008, 08:36 AM

Quote:

Originally Posted by Steadyman1

Guess not only investing firm. We also have to be careful with foreign bank and some of my colleagues are thinking to divert their fund to local bank.

The cuties part is to keep it in the biscuit tin like what the older generation does. Those who are older... Still remember the 555 cigarette tin where notes were used to be kept??

The most active of the 3 big local is DBS. Yes they were aggressive in the US Fixed Income Instruments with the previous management in credit default swaps,CDOs and other SPVs but their exposures are small compared to the other offshore banks. Dont see a need to panic over the savings. UOB and OCBC are relatively sheltered.

The worst scenario is when the general public get anxious and start queueing outside the banks to withdraw.. that will lead to a cash flow squeeze as most banks lent out up to 10x their deposits. I personally believed the panicky depositors at NR actually contributed to it's quicken death.

hamlinlau · #**225** 17-09-2008, 08:57 AM

Quote:

Originally Posted by Steadyman1

Don't think there is much cushion once falls below 2500. It will go below 2200-2300 any time from now. The next supporting level is 2000 and anything below that is doom and no way to hit 4% GDP. Got 1%, you have to laugh already...

There's no technical nor fundamentals to the current market.. Yes we can have a 'view' where the market should bottom out and rebound (sharply?). Some hedge fund can come up very short over the next few weeks and that might lead to a frenzy unwinding to raise capital.

Luck, guts and a lot of spare cash if one wants to come out a big winner in this market..