powder, you previously wrote:
"most young singaporeans have never been thru a recession, so i'm just watching... seeing how pple are more caught up in buying things they can ill-afford, the the credit facilities being so laxed, and the impending IR... shit is gonna hit the fan."
"scary rite? our credit card expenditures and easy loan facilities is scary..."
In both posts, i've interpreted that you see my point that the banks' personal credits' risks (including S'pore) are snowballing. Thus, i tot you also view it as a potential financial crash, be it locally or globally.
Hence, i feel the one big factor that contributes to this snowball is just the paid-Interests, not even some principal amounts... as i've noted on one report (few weeks ago) that there is actually a current bad debts risk of some 10 million (actually, inclusive of my own relatives)...
pls correct me if im mistaken.