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The Worlds Economy Is In Peril, The Government Knows It. Ministers Telling Us To Save Money For A Rainy Day, Slow Growth, Periods Of Recession, All Of This Happening Recently.
The world’s economy is in peril, and it doesn’t look like Singapore will be spared.
The Government knows it, saying we have to be prepared for slow growth and periods of recession in the advanced economies in the next three to four years. Ministers telling us to save money for a rainy day, a lowered economic projection, all of this happening recently.
And it looks like even the average person on the street is sensing danger. A recent survey by Nielsen showed lower confidence in the economy, with almost half of Singaporeans (46%) say their personal finances in the next 12 months would be “not so good or bad”.
You may believe the government is prepared with strong financial policies and ample reserves, and that’s true. But with many countries around the world in trouble, there’s not much a small nation like ours can do to shield ourselves from the effects of an impending global collapse.
The question for us is,“If the threat of collapse is real, what’s the worst that can happen?”
IMF Warns On Global Recession
AUSTRALIA’S economic prospects have been downgraded by the International Monetary Fund, as it warned the world economy risked plunging into recession unless European and American leaders acted swiftly to address their countries’ debt woes.
With growth slowing around the world, the fund yesterday said the risk of another global crisis had grown significantly in recent months.
The fund’s forecasts for world economic growth were cut for the second time this year, to 3.3 per cent for 2012 and 3.6 per cent for 2013.
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