Remembering the crossing of year 2007/08, I have been little uncouscious over the turn-over 2007/08.
2007 had been speedy & furious.
Oil prices shooting up, economy booming, earning & expenditure were hihg-up like it never be. Things moving so quickly, no-one is taking any break, not to say, a look backward.
The crossing of year 2008/09 has been very much different. Immediate impact of economic downturn on SG has got me felt closely.
2008 continued the 'Ohm'. But, busted in Q4.
Oil prices more than halved, as forseen, but, falling at extent out of expectactions. Home prices start to drop, economy hugely affected, retrenchment kicking in, etc. Things move slower, people starts to re-count, reflect and even re-connect.
The very 1st day of 2009 have us re-pace ourselves, to set-forth a better way to deal with the changing environment.
Oil prices is down. But, it also says, it is more volatile than ever. Relying on such commodity will put human-kind in risk that never been before. Diversifying energy, (hybrid energy), shall be first important task that every political body looking at.
Home prices, with messing of complicated financial systems, has gone through some painful experiences. Home commodity has always been the mainstay of economy, it sneezes, the whole economy tumbles. Many parts of the world is sheltered from this real-estate bubble. But, if U.S. lesson not well learnt, China is the next to be impacted. By then, it takes extra effort for central government to re-build.
2009 should be a year, people thrift on resources, to re-think the efficiency of economy, to re-examine the robustness of financial system.
No comments:
Post a Comment