Recession in Singapore and in the World
I was in Chinatown a couple of days ago and I have noticed more and more shops are closing down. It is most probably due to the global crisis that’s going on since October last year. A lot of retailers are putting their merchandise on sale – some even up to 70% discount to attract people.
I have heard from a friend who came here late last year to work that he might lose his job. This is really a terrible period all over the world.
photo credit: NY Times
We are very responsible people – we don’t spend money that we don’t have but we are in a way still affected by this because our house in The Netherlands has not been sold yet. People are having a hard time to get loan from banks to buy a house. I do hope this gets resolved soon because it is difficult to pay for two houses at the same time especially when you have other things we should be preparing for like my IVF treatment and the future costs of having children.
Are you affected by recession? How and what are you doing about it?
eastcoastlife on Feb 20, 2009
People all around me are affected by the recession one way or the other.
I’m also watching my spending and monitoring my son’s pocket money.
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Sherry on Feb 20, 2009
a friend of mine went to temple to seek advice. I know its rare they was told they will have more gals than boy so they need to use flower etc for bath. They wanna have a boy as they already got a gal.
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rolly on Feb 21, 2009
I thought it’s only here in UK that is in recession, also there. i think it’s all over the world now.
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i devour fashion on Feb 22, 2009
hi Jade! how are you?
i may be a shopaholic but i’m really smarter now. before, i am relentless in decluttering my closet and donate it to India. now, i declutter it and recycle my clothes and mix and match them. also, i cannot be as relentless as before cuz my daughter already fits in my clothes (the ones that are appropriate for an eight year old, of course)
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DianeCA on Feb 22, 2009
I see a lot of signs of the resession as well, and I can’t help it, I’m not shopping as much either so I can really understand that it is effecting sales. I do think twice about what I spend my money on. It’s a bit scary I think. I wish them all well.
DianeCA’s last blog post..I’m living in a snowglobe!!
sassy mom on Feb 22, 2009
My hubby’s friends lost their jobs, I’m quite sad about what happened. It’s scary when you think of it — I just keep on praying that all these will normalize soon.
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pinaymommy on Feb 24, 2009
Sale is somehow useless when you don’t have the money to spend. LOL!!
Anyway, the pain is REAL. I am suffering the bitter part of it right now.
pinaymommy’s last blog post..Accomplished But Aching
Are you affected by trends? | on Feb 25, 2009
[...] if the price is reasonable. I mean – I am not gonna buy something on credit. Like I told you in my other blog, we don’t spend money that we don’t have in our [...]
Shabs on Jun 29, 2009
Hey,
Iam in an indirected way affected, nice to see a blog discussing about the issue, keep up the good work!