Maddog/tigersee, the foreigner, don't reply your own message.Originally Posted by Unregistered
Maddog/tigersee, the foreigner, don't reply your own message.
4.2% is still up!
Huat Ah!
Hey born loser!
Why keep muliplte-post your 3-week-old news anywhere?
Why not post a 3-month-old or 3-year-old news in all the threads?
Anyway, price increased by 4.2%. No old writing can change that.
Go post a 3-year-old news here. It may help you, loser!
Agree.
The current news now is property prices went up by 4.2% during the first 10 weeks of 2008.
Don't post any news here. Those are history.
IMF chief sees ‘major’ slowdown in global economy
Posted on April 4, 2008
INTERNATIONAL Monetary Fund managing director Dominique Strauss-Kahn said on Thursday he sees a ‘major’ slowdown in the global economy this year amid a credit market crisis.
‘What is certain is that the situation is very serious and that the slowdown in the United States, and subsequently in the rest of the world, is a slowdown that is going to be major,’ he said in an interview with AFP ahead of next week’s IMF and World Bank spring meetings.
‘It is not a catastrophic slowdown, but it is a major slowdown,’ he stressed, five months after becoming managing director of the 185-nation institution.
The IMF is set to cut a half point off its 2008 forecast for global economic growth to 3.7 per cent on Wednesday, Mr Strauss-Kahn said, confirming media reports but without providing further detail.
The IMF, whose mission is to promote global financial stability, is to publish its economic growth forecasts in its biannual World Economic Outlook report next Wednesday.
In January, the IMF projected the global economy would expand by 4.1 per cent and the US economy would grow by 1.5 per cent in 2008.
On Tuesday and Wednesday, media reports in Germany said the IMF would lower the global growth projection to 3.7 per cent and that of the US to 0.5 per cent.
The IMF and the World Bank hold their spring meetings on April 12-13 in Washington.
Mr Strauss-Kahn, a former French finance minister who will preside for the first time over the meetings, said that while the United States and European countries are the principal victims of the credit crunch, emerging countries, which have been a global pole of dynamic growth, would also be affected.
‘I am particularly concerned about the central European countries,’ he said, without identifying the vulnerable countries except to say they are members of the European Union.
Separating bad risks from good risks
To tackle the root of the credit crisis that stemmed from a meltdown in the US housing market, the IMF is mulling a structure that would isolate the risky assets from the rest of the financial system.
‘The way to get out of the crisis, is to effectively separate the bad risks from the good risks,’ Mr Strauss-Kahn.
That would allow a renewal of confidence and revive the interbank market, where credit flows are down to a trickle.
‘Today we have banks that no longer lend to each other because they lack confidence - that is what is freezing up the market,’ he said.
He said the crisis represent ‘a multilateral question, that is why the Fund has a particular role to play in the matter.’ To play such a role in the current crisis in any case offers a welcome visibility for the Washington-based institution, which is under fire as being obsolete, despite reforms it is undertaking.
On that point, Mr Strauss-Kahn called a ‘a very big political success’ a plan to reform the voting rights system approved by the IMF board last Friday to give more voice to the developing and emerging member nations but criticized as not going far enough.
‘If that step wasn’t taken, the institution’s reform would have been blocked for 15 years,’ he said.
The board voted to transfer 1.6 per cent points of voting rights from the developed countries to their developing and emerging peers.
The reform plan, in tripling the base voting rights - a measure that mainly benefits the poorest countries, ’soundly takes into consideration the existence of people above their economic weight,’ he said. — AFP
IMF says US will have growth of 0.5%.
Swee liao lor!
Now that US will have growth of 0.5% and MasterPlan 2008 will be out soon. Better buy first.
Plot Ratio increase?Tan Ku ku
How to huat if nobody gives you money?
Major difference between previous peak and now - a lot of buyers in the market then and no buyers now. That's why at the previous peak, price crashed quickly when bad news came along because a lot of people overcommitted, including developers.
But this time, buyers are sitting at the side so price will slowly increase. When buyers start to cheong, the crash will come after that. If buyers don't cheong, then sellers have to think about rental or give some discount.
Very hard to predict either way.
....................This is only based on 10 weeks. The actual figure may be slightly more.
Dow Jones is continuing its uptrend. Huat ah!
12.00pm, U.S. EDT
At midday, the U.S. stock market is trading with a slight gain. 6 of the 10 economic sectors are in the green. This is actually pretty decent.
wah lau !! why keep going up ??
Could be 4.7% to 5.0%.
The 8th sign is the loud thuds heard due to speculators jumping off high rises.
Around there. We will know in a few weeks' time.
Huat liao lah!
I would like to know what this figure of 4.2% is.
Is it the PPI as defined here
http://app.mti.gov.sg/data/article/3...ertyIncome.pdf
if it is , and before everyone starts jumping, I'm not sure it is......... (are we clear?)
the formula is NOT based on actual property transactions!
figure is based on GDP, interest rates and stockmarket index. and apparently uses 12 quarters of data.
If this is the way the index is calculated, then you can see it is possible for this index to rise, even if actual property transactions fall.
Read the article , I would love to see the most recent data plotted this way, you can clearly see if we are experiencing a bubble or if prices are justified. Nice, non emotional , data driven.
IMF predicts global economic gloom
Story Highlights
IMF forecasts a slide into a recession in the U.S. amid global slowdown
IMF's World Economic Outlook predicts U.S. economic growth to slow to 0.5 percent
The organization also trimmed its projection for France, Britain, Germany and Japan
WASHINGTON (AP) -- The world economy will slow sharply this year, according to an International Monetary Fund forecast, with the United States sliding into a recession amid housing, credit and financial slumps.
The IMF, in a World Economic Outlook released Wednesday, slashed growth projections for the United States -- the epicenter of the woes -- and the global economy as a whole.
Economic growth in the United States is expected to slow to a crawl of just 0.5 percent this year, which would mark the worst pace in 17 years, when the country last suffered through a recession, the IMF said. The United States won't fare much better next year; the IMF projected the U.S. economy will grow by a feeble 0.6 percent in 2009.
"The U.S. economy will tip into a mild recession in 2008 as the result of mutually reinforcing cycles in the housing and financial markets," the IMF said.
Many private economists and members of the U.S. public believe the country has already fallen into its first recession since 2001. For the first time, Federal Reserve Chairman Ben Bernanke acknowledged last week that a recession was possible.
An increasing number of analysts think the U.S. economy, which grew by 2.2 percent in 2007, started shrinking in the first three months of this year and is still contracting. Under one rough rule, if the economy contracts for six straight months it is considered to be in a recession. A panel of experts at the National Bureau of Economic Research that determines when U.S. recessions begin and end, however, uses a broader definition, taking into account income, employment and other barometers.
To limit the damage, the Federal Reserve has been slashing interest rates since last September and has taken a number of extraordinary measures to avert a financial meltdown, which would have dire consequences for the U.S. economy.
"The financial market crisis that erupted in August 2007 has developed into the largest financial shock since the Great Depression," the IMF declared.
Looking at other countries, the IMF trimmed its projection for Germany, with economic growth slowing to 1.4 percent this year and weakening to 1 percent in 2009. In Britain, growth will slow to 1.6 percent this year and next. France also will see growth decelerate to 1.4 percent this year and 1.2 percent next year.
Japan's economy will expand by 1.4 percent this year and 1.5 percent next year, which would mark a loss of momentum from last year. Canada's growth would slow to 1.3 percent this year and pick up slightly to 1.9 percent next year.
Global powerhouse China, which barreled ahead at an 11.4 percent pace last year, would see growth moderate to 9.3 percent this year and then strengthen a bit to 9.5 percent next year. India, which grew by a blistering 9.2 percent last year, is expected to grow by 7.9 percent this year and 8 percent next year. Russia, which logged growth of 8.1 percent last year, will see growth moderate to 6.8 percent this year and then 6.3 percent next year.
Problems started in the United States with risky "subprime" mortgages made to people with blemished credit and quickly spread into other areas, hitting more creditworthy borrowers. Foreclosures in the U.S. hit record highs and financial companies racked up multibillion-dollar losses as mortgage-backed investments soured with the collapse of the U.S. housing market.
The fallout gripped investors on Wall Street and in other countries, creating a panicky atmosphere that threatened to paralyze financial markets in the United States and beyond.
Against that backdrop, the IMF now expects the world economy, which grew by a hardy 4.9 percent last year, to lose considerable momentum. The fund is projecting the global economy to grow by 3.7 percent this year and 3.8 percent next year.
"The global expansion is losing speed in the face of a major financial crisis," the IMF said.
There's a risk that things could turn worse, it cautioned.
"The IMF now sees a 25 percent chance that global growth will drop to 3 percent or less in 2008 and 2009 -- equivalent to a global recession," the fund said. "The greatest risk comes from the still-unfolding events in financial markets, particularly the potential for deep losses" on complex investments linked to the U.S. subprime mortgage market, the IMF said.
While the IMF is worried about the dangers of weakening global economic growth, it also expressed concern about the potential for inflation to heat up around the world, given sharp increases in energy and other commodity prices. "Risks related to inflationary pressures have risen," the fund said.
....................
you 2 idiots, stop posting the same message multiple times
administrator, please do something to these messages
PISSED MORONS DONT KNOW WHAT TO DO. SO FRUSTRATING TO SEE PRICE DROP...WOOOHAHAHAHAHA.
PISSED MORONS DONT KNOW WHAT TO DO. SO FRUSTRATING TO SEE PRICE INCREASED IN Q1...WOOOHAHAHAHAHA.
Wah lau! How come the analysts and economists are always wrong? How come they did not predict 16.9%? Don't understand them.
Singapore's GDP Rebounds By 16.9% In Q1
MAS moves to curb inflation as growth rebounds
Agence France-Presse
Singapore
Thursday, 10 April 2008
Singapore's central bank unexpectedly further tightened monetary policy on Thursday, pushing the Singapore dollar to a record high against the U.S. dollar, in a move aimed at keeping a lid on soaring prices.
Singapore's economy grew at an annualised, seasonally adjusted rate of 16.9% in the first quarter, beating economists' expectations, government data showed on Thursday, after a surprise 4.8% contraction in the fourth quarter of 2007.
The data beat a median forecast from economists polled by Reuters for growth of 11.5% because of a recovery in pharmaceutical and electronics manufacturing.
"The GDP figures were stronger than what the market had predicted and that gave the Monetary Authority confidence to tighten the policy," said Joseph Tan, an economist at Fortis.
"Strength of GDP quarter-on-quarter came from domestic sources. Where we go from here is a step in time approach but the one-up shift of the band, as opposed to the steepening of the Singapore dollar, shows that MAS recognises inflation is an imminent danger."
The Monetary Authority of Singapore conducts policy through the exchange rate, steering the Singapore dollar within a secret trade-weighted band against a basket of currencies, rather than by adjusting interest rates.
Growth Support
"Against backdrop of continuing external and domestic cost pressures, an upward shift of the policy band at this point will help to moderate inflation going forward, while providing support for sustainable growth in the economy," the central bank said in a twice-yearly monetary policy statement.
"MAS will therefore re-centre the exchange rate policy band at the prevailing level of the S$NEER. There will be no change to the slope or width of the policy band."
The Singapore dollar hit a record high, up 0.9% on the news to 1.3683 per U.S. dollar. The currency has gained around 5% this year.
Ten out of the 12 economists polled by Reuters had expected the MAS to refrain from tightening monetary policy due to concerns about slower economic growth.
The other two had expected the MAS to tighten policy to fight inflation, which stood at 6.5% in February. In January it hit 6.6%, the highest since March 1982.
The MAS said it expected inflation in the upper half of its 4.5% to 5.5% forecast range this year.
Singapore is one of the first Asian countries to report GDP data each quarter. The health of its exports is seen by analysts as a barometer of demand for Asian goods.
Despite concern about slower global growth, most central banks in Asia have refrained from easing monetary policy due to high inflation.
Some analysts said a stronger Singapore dollar would further cut demand for the island's exports by making them more expensive at a time when demand in the key U.S. market is weakening.
They also said a stronger Singapore dollar may not be as effective as before in reining in inflation because domestic factors such as a tight labour market, high wages and elevated property prices were factors as well.
The MAS tightened policy slightly at its last meeting in October as asset prices spiralled higher.
Singapore's economic growth is largely fuelled by manufacturing of products such as electronics, pharmaceuticals and oil rigs. However, the economy also relies increasingly on tourism, financial services and construction.
Hello! You think it is so easy to predict the economy?
No need to argue. Just enjoy the 16.9% growth.
You can guess it's going up meh?
Technology and retail stocks fuel rally
Kevin Plumberg
Reuters
New York, New York, U.S.
Thursday, 10 April 2008, 4:31PM EDT
Traders on the floor of the New York Stock Exchange, 18 March 2008. - Photo: Brendan McDermid, Reuters
Stocks rose on Thursday after a brokerage upgrade of chip makers lifted technology stocks and on optimism that poor March sales may have been the low point for retailers this year.
Intel Corp shares jumped 3% and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.
Retail shares rose as investors bet the business environment will improve should the current downturn reverse as expected in the second half of the year. The sector posted its weakest March monthly sales results for U.S. retailers in 13 years.
Shares of Wal-Mart climbed 1% after the world's largest retailer raised its outlook, citing expense controls and fewer markdowns. The stock gained in spite of Wal-Mart posting March same-store sales growth that fell short of Wall Street's expectations.
Tech shares also got a lift after JPMorgan Securities raised its profit forecasts on Apple Inc. The iPod maker's stock rose 2% and contributed the most to the Nasdaq 100's advance.
"If you're optimistic about growth in the second half, then what is tied to growth and most successful in times of growth? Technology," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco.
The Dow Jones industrial average was up 54.72 points, or 0.44%, ending the day at 12,581.98. The Standard & Poor's 500 Index was up 6.06 points, or 0.45%, finishing at 1,360.55. The Nasdaq Composite Index was up 29.58 points, or 1.27%, at 2,351.70.
General Electric Co rose 0.9% and was the second-biggest boost to the S&P on expectations that economic strength outside the United States would support the conglomerate's bottom line. GE closed at $36.75 on the NYSE.
An easing in lending markets since mid-March when the Federal Reserve backed JPMorgan Chase's takeover of Bear Stearns has comforted investors, who have been slowly regaining confidence in stocks.
Many investors have become more certain that the U.S. economy would slip into a recession during the first six months of 2008, but this has actually helped the stock market to recover.
"It is good because we have moved from totally unknown territory to one where we think we know what is going on," said Jan Loeys, global head of asset allocation with JPMorgan, on a conference call.
Wal-Mart's stock ended at $54.66, up 52 cents, or 1% on the New York Stock Exchange.
The Dow industrials also benefited from a positive outlook from an economic bellwether, DuPont Co.
DuPont's stock climbed 1.2% to $49.64 on the New York Stock Exchange after the chemical company raised its profit outlook and said strong growth in its agriculture businesses and emerging markets should help offset weakness in U.S. housing and automotive markets. For details, see
Adding to investor confidence, Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday that financial markets are likely in the late stages of the credit crisis that began last summer.
Intel's stock gained 3.1% to $22.08 on the Nasdaq.
Apple shares rose 2.1% to $154.55 after JPMorgan Securities raised its second-quarter and 2008 estimates for the company.
Volume on the New York Stock Exchange was modest with 1.29 billion shares changing hands, down from last year's daily average of 1.90 billion shares. On Nasdaq, 2.20 billion shares traded, slightly above last year's daily average of 2.17 billion.
Advancers beat decliners by a ratio of about 5 to 3 on the NYSE. On Nasdaq, about three stocks rose for every two that fell.
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