Recession is not something new, it is cyclical process of
economy, without recession, that can never be a bull run, someone
said it super shopping time, I will agree if the share
prices are at the lowest. For Cabbies, if you can afford, buy
some good dividend shares, blue chips shares like local banks,
local corporation like sembcorp, keppel or even singtel and sph can
offer much better dividends than FD in banks. And you might not get
such a price during good times.
Bro Pool has a pro active approach to thing, that's good info,
however, as cabbies we need to digest it from a different
perspectives than what a investors, govt or banker perceived. In
any situation, there are alway pros and cons, lost and opportunity.
In fact, what bro pool said is quite true, many if not, those
affected will be squeeze to spend prudently rather than lavishly.
However, there will also be people who got lot of cash in hand and
willing to spent at recession time only, because prices are low, it
is an opportunity for them, these are great vultures who had
patiently waited for the time to come, and Bang! take the
opportunities and harvest it when bull run arrives, not only these
apply to shares and stocks, it is across the spectrum of the board
in any dealing, from property to cars on and on.
Take for example, peoples can be down, lost, but not out yet, it
just a lost, part and parcel of life and the economy, so they got
more time, in anger, they go for drinks and enjoy to forget about
the dismay. People may sold their car to compensate the lost, or
simply cannot afford to own a car with heavy installment anymore,
sell it and take taxis, most car owners can hardly go back to MRT
and buses. Some may take this opportunity of recession to travel
and do what they cannot do during the hey and busy times, so you
got people travelling to study or for stress relieve too. So, when
you look the cons of a situation, there are also pros in it.
Somehow these will balance out well.
Our worry is not much on recession, people still need to travel
to banks, to find job, eats, drink and to do lots of other
stuff, transport is an essential item, just like buying rice, it is
a norm in peoples, especially in singapore which demand fast and
decisive, and comfortable travelling. In my view, recession is like
in school or work, a time to rest, think and relook at what is
right and wrong, nothing to be worry much. You got more taxis
drivers coming in, you also have more giving up, naturally, the
market will balance by itself. My worry is not recession, but
diseases, thing like SARS, or other epidermic will be a total
diseaster for ALL.
