Recession...

C

cherrygirl

New Member
I wondering anyone is going thru recession?

The reason I ask is that I am going thru ..
I have been asking friends about how their company is doing.. but its seems that none of my friends are going thru..

I am still not confirm by my company yet (my confirmation in March next yr), and I wont be getting bonus, AWS + I am having pay cut (to work 4 days a week..)..

I wondering if I should continue on this job or wait till March to see if any improvement..
 


Meanwhile, stay in your job first. You can start looking around first, job hop when u found a better paying job.. The impact for this recession is coming in slowly, probably throughout the whole of 2009 more pple might get affected. So why don u start looking around now, than to wait till March.. By then, i guess there will be more candidates competing for jobs in the market...
 
i am confused cos i like my job..
my dad ask me to stay on cos he says economy is bad.. but my friends ask me to job hop..
 
if it me, i'll stay.
1- i like the job
2- econ no bad, go aniwhere oso the same (may not find the 1 tat i like again)

=)
 
actually i have another worry.. i am not confirm yet, and I am afraid that my company will play me out , and will ask me to go when March arrive..
 
cherry,

what's wrong with u? u're like the girl who just got together with a nice bfren and u're all worried abt being cheated.

pls spend your time more constructively instead of worrying for nothing. if u do get laid off then it's nothing personal... there's a worldwide problem which may affect u in one way or another. Nothing Personal. it's not playing u out... if u have to go then u have to go, it's prob to save your colleagues' jobs...

if u like your job just stay... why look for security when there isn't any to begin with. else go be a teacher or join the civil service.
 
i used to like my job too... but then when it is neccesary to go, or if circumstances force u, there is nothing much u can do... u can't simply work for a company, yet the welfares and pay is depriving u and causing u financial difficulties. Stay on, so u don't need to worry about ur 3 meals and household expenses. Look around, look for opportunity to job hop. U never know. Maybe u find a better welfare, better salary job. When there is a problem, there will be an opportunity. Pick urself up and move on. Use ur energy to look around than to sulk.. U can make it!!!
 
i like my prev job as well, but for better pay, i have no choice to move, but in the present situation, i also think it's best to stay 1st and monitor the situation. Even if u want to hop, there might not be a place for u to hop
 
Cherry

recession is a very scary word. Btw why dont u try to save up a bit n keep some ready cash on hand till march, then review again. lastly dont worry too much but save up for your future needs while u still have your job.
 
hi,
how long is the probation period in your company? Is march the normal standard ( i.e 3 or 6mths)?

even if u look for another job now, it might not mean that you would be confirmed by the next company mah...

when u said your frens tell u to job-hop, do they mean to quit your current job and focus on looking for better paying one?

u can try finding a job, but it is definitely not easy.... life is easier if you dont compare so much...
 
Ivy, that is true provided you got really alot of 'extra' cash and dun mind to leave them inside the stock market and let it grow...

Overall, i think recession is not that obvious in SG yet, maybe got to wait after 2nd half of 2009..
 
Kind of insensitive to make comments like "I love recession".

if u r burnt by the stock market, u will be singing a different tune altogether.
 
you see miloice, investment mistakes happen, that is when people buy high sell low... for me i love recession... be patient and always wait for recession when people stop buying, that is when i buy low and wait patiently (again) for the bull market again, then sell... in that way, u wont ever get burnt, but u wont make that much either... see wat u want lor
 
companies can go bust or into receivership... a $8 stock can be $2 now... most expect it to ride back up maybe to $5, but it might also be a 50cent stock later...
 
kind of got burnt by the stock market but got thru it when i got some advice from onementor.com. It advised me when to sell and when to stop. luckily got good predictions from the website
happy.gif
 
not to pour cold water or what...but i think the recession is gonna be longer than we expect. In fact even after US has recovered Singapore will be the last to do so due to the nature of our economy.

Hence, dun anyhow throw letter unless you already have the savings or other plans to tide over. According to an economist in a closed-door event, he predict the Singapore economy will only pick up in 2011....thats chilling.
 
quite likely to be 2011 or later... as it is, some pple are still spending like it's 2007... hehe, the impact is isolated at the moment so u dun get the full blast yet... i think can only count when the full effect takes place...
 
So have we reach the rock bottom yet? or we will never reach the bottom before we float up?

It seems to me that right now, unless you are affected by the recession due to stock markets, minibonds fiasco etc etc, most are not feeling the pinch in their pocket yet and are still spending on wants instead of needs only.

Are we being too optimistic with the economy or great faith with the governement, or are we just the few frogs in the well that do not know what is going to hit us soon?
 
According to my more experienced seniors who apparantly have seen it all, this round is the worst of all cycles.....

and yes, giantemu is right. Singapore will be one of the slower climbers even after US and European markets recover.
 
vio,

ha ha who has seen it all?

Those that happen in the past 30 years are nothing.

this is even worst than the great depression in the 1920s/1930s..

Even very profitable companies are in for a rough ride..

Toyota is going to reporting its first operating loss.. imagine previously it make USD$10 Billion a year.

I lost 6 figure in stock.. paper loss.. but I guess I will wait for a while to slowly pick up some stock to cover for the loss..

Singapore is having delay impact... but if you are in business you can already feel it 1Q sucks big time... and progressively throughout 2009.. it won't be a great year to be in.

As to when will be the recovery.. no one is sure.. we don't even know what bad things will be coming ..
 
sm, heh.... yep, im referring to the 50s-60s year old businessmen... heard from them that they've never experienced any worse than this cycle lor...

for me, has been sucky since Q4 2008..... and yup, tough 2009 ahead.
 
if we were to relate this back to weddings, those having weddings this year will have big cuts in ang bao collection too....
definitely tightening my strings. No renovations for new house, and no honeymoon for me!
Now cash is king.
 
vio, haha uncles in 50s to 60s seen not much lah..

I tot you are referring to great grand father that has lived through the great depression. ha ha .. just joking..
 
Habe,
Some couples around me 'over-do' their 1-day wedding event, land in credit card debts or parents' debts. Long-term pain for a short-term enjoyment?
 
I went to the same restaurant (that I went to last Nov) - last year it was packed.. cannot get a seat. Last week, it was quite empty..

Maybe next Q, it won't be there anymore... a bit scary..
 
but the husband says that we need those people with money to spend - otherwise it'll be worse .. like paris hilton says, she's helping out the economy by shopping!
 
actually my main concerns would be the old+retired, the over-expectancy on the government to tide us over, the petty crimes etc...

tiding over recessions & hard times is inevitable in life at least once... biggest problem is our lack of mental strength... it's something we dun fare too well in. tat's where pple will feel justified to compromise on their morals...
 
Is there a recession in singapore ?

Sometimes i really wonder...look at the property sales in singapore...lower but prices still so high ???

.......Cannot comprehend.
 
well pple are buying homes younger... that part of the equation we may not be seeing... last time many pple stay under one roof, now u got young couples going for 4 and 5rooms...

also, the salaries for the past 5yrs before the recession was pretty good... guess some pple do manage to save abit...
 
Recession is here but:

1. HDB housing is still as expensive as ever, esp resale

2. Hotels are not lowering their prices for banquets, either the same or even higher!

3. Petrols prices have been on the dip for a long time, now then PTC decides to slash buses and MRT fares?

I simply cannot comprehend...
 
becos these are all Expectations - something most sporeans have More of, on the Government... than for themselves to solve their own woes...

1. HDB - Only pay what u want, else dun buy. your Valuation is more impt than 3rd party valuation... alot of pple trust pty agents too easily, and are too kan cheong to get a place of their own. when u're in a hurry, where's your Advantage?? offer the price u're comfortable with and stick to it.. the market levels are there, if u dun like it, find another affordable estate. Decision to buy is Ours... since when is the government supposed to be S'pore Fairprice?

2. Hotels - Why should they be lowering their prices for Your to pay lesser when they have hundreds of mouths to feed, waiters to hire, their premise and quality to upkeep, in order to compete? AGAIN - u can dun have a banquet or opt for restaurants.

3. Petrols prices vs PTC - not much comments on this but i guess it's a Necessity, and it's something u can't do without? it's been a part of our lives and will continue to be... with the information we constantly have on prices, why dun we just Individually work at our own income?

i think it's really sad that in troubled times... instead of bukcing up, planning ahead, finding alternatives and taking it upon Ourselves - we instead look towards the government...

Look, we're not amongst the extreme poor, nor living in poverty... the whole darn world is in on this. and not so long ago, young sporeans are all talking abt going into banking, making tonnes of money and living the life... Dude, if we Dare to Dream, can we at least Try to do something Ourselves???

Alot of locals are spoilt... Talk Big, Dream Big, then they simply... EXPECT. and when we dun get what we want... we COMPLAIN... i'm sporean too and this is one of the major weaknesses we possess as a nation. we've left our brain back in Poly/Uni and proceeded to life with just our Cert n lotsa Hoping/Expecting...

Why dun we start by questioning ourselves first?

transport prices will always be there, cost of living will always be there, hdb prices will always be there... they have been there when we were still studying in school... IF these are all considered as Constants, then what is the Variable??? - Ourselves. we can adapt, change, work hard etc... Ourselves.

u can sit there and try to comprehend prices, or u can stand up and get moving to fight the price... either thru Movements, or by taking it upon yourself to Increase your income... anybody stopping u? only ourselves...
 
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