What Financial Crisis?

As an investor staying in Singapore, I think that the global financial crisis has yet to hit Singapore as hard.

True, the stock market in Singapore has dropped from its dizzying heights of 3000 over points to the current 1600 over points. Lots of people are sitting on their paper losses.

In terms of jobs, I do not know of anyone who has lost a job yet. Maybe its just my circle of friends and a select industry that has been hit.

So there you have it, a brief summary of what is happening in Singapore for people who do not live here.

Inflation has hit hard but it is barely noticeable for the average person on the street. Go to orchard road or town and you still see a great crowd of people shopping for their Christmas presents. People are going on cheaper holidays but they have not stopped travelling. People are still eating out and indulging in fine dining. People are still buying brand new cars.

Yes.. there might be some who are feeling the effects of the global financial crisis but based on my circle of friends and the people I know, very few are affected at the moment. Those who bought the Lehman Mini bonds and high note series are definitely affected too. They most probably will not get their hard earned investment money back.

Maybe things will get worse but there is just this nonchalant attitude amongst Singaporeans. We are an optimistic lot afterall.

And that is what the world needs. Some optimism and some consumer spending to revive businesses and get ourselves out of this mess some people got us into.