Dear readers, at the May Day Rally yesterday, PM Lee spoke about the need for Singaporeans to be prepared for more economic challenges in the year ahead. PM Lee also warned that there may be a recession within the next two years.
This is the first time this year that I learn of a timeline for a possible recession, from PM Lee nonetheless.
I am not surprised at all if a recession is to hit global economies within the next two years for since the 2009 global financial meltdown, the number of risk events to cause a possible recession next has only increased. The increase of interest rates by the US Federal Reserves is the possible trigger for the global financial meltdown next.
I cannot stress more the importance for Singaporeans to continue saving and building up a warchest. This warchest can be used to tide over a rainy day or as an investment warchest to bargain hunt at the bottoms of the next global stock meltdown.
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