Originally Posted by
tericia
If you are really Prof Lilian Ng and you are really a professor, i'm deeply honoured that you took the time to answer. I'm glad Condosingapore.com has people like you. Though i do agree that the policy makers are now working together to remedy the situation, the problem now is we do not know if the remedy solves the problem quickly or it just drags the economy through a long period of low growth. I suspect the situation may become a U shape recovery rather than a V shape one. The situation in US is bleak as towns get shut down because everyone's foreclosed. Because this situation starts from everyone losing their biggest asset: their homes, i feel it's not just losing pocket change. A home in absolute amount is a large sum for people to lose. That said fundamentally Singapore is in a good position now and i do agree it is possible the recovery for us may be much shorter than expected especially with China now in the picture when they weren't there before. However, both US and Europe are affected, this in my opinion will dilute any impact China would have on us. Moreover, the IR, F1 and Youth Olympic were expected to have positive impact but now we are not really sure if they would make any impact at all, even if they open on time. The debt that US carries is also a worry as they now put more $ into the markets to try to stabilise them, but where is the money coming from? If the time comes where they are expected to pay up is during this 5-10 years, my opinion is this will accumulate into another great depression or worse because during the great depression, US didn't have trillions of debt. So my opinion's it'll take us probably another 10 years before we see the light and it will take probably 10 years or more for things to clear up.