Singaporeans borrowed additional $10 billion last month.

[sgbuyer]

This works out to nearly S$3000 for everyone Man, woman, child, baby Singaporean. Who here borrows S$3000 every mth! ;)

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1262810/1/.html


SINGAPORE: Total bank lending in Singapore increased 2.1 per cent in February from January, according to figures from the Monetary Authority of Singapore (MAS).

Bank lending totalled S$510 billion in February, up from S$499.5 billion in January.

Compared to a year earlier, bank lending rose 20 per cent.

On a month-on-month basis, total loans to businesses rose 3.1 per cent to S$299.9 billion in February. Lending to the manufacturing, building and construction, general commerce, financial institutions, and transport, storage and communication sectors all recorded increases in February.

Total loans to consumers also increased 0.6 per cent to S$210.1 billion, led mainly by housing loans.

-CNA/ac

[bargain hunter]

a lot of it is for businesses. the more relevant one to individual singaporeans is:

"Total loans to consumers also increased 0.6 per cent to S$210.1 billion, led mainly by housing loans."

that addition is still significant, $1.25b increase in mainly housing loans?!

[RCT]

Don't worry.... Singaporean are rich.... 210 billion only for consumer loan.... Tha is nearly 40%... This show that businesses are not take advantage of the low interest rate to get cheap money for business? How silly? Normal Singaporean already know to take advantage of it.. We can see that with 210 billion in consumer loan...

[DC33_2008]

The question is not about how much you borrow every month. It should be what are you borrowing for. Borrow to invest for good returns :D or to service a car loan:doh: .
This works out to nearly S$3000 for everyone Man, woman, child, baby Singaporean. Who here borrows S$3000 every mth! ;)

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1262810/1/.html

[sgbuyer]

Borrow to invest for good returns :D or to service a car loan:doh: .


All hot investments like Greek bonds got good returns and are fair safe (e.g. backed by EU governments) at the start, otherwise why people buy them in the first place. :D

[phantom_opera]

sgbuyer u can join zerohedge they interpret everything as bearish

[radha08]

This works out to nearly S$3000 for everyone Man, woman, child, baby Singaporean. Who here borrows S$3000 every mth! ;)

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1262810/1/.html
compared to the USA...thats small change....:D:D:D