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Gloom and doom
October 18th, 2008 in Random musings
It is hard not to be affected by all this gloom and doom. Job cuts here and there, hiring freeze, lower consumer spending etc … Today’s Straits Times had a whole 2 pages on the man on the street voicing their concerns over the impending recession. Even my friends are talking about bunkering down in preparation for the coming disaster.
However, as with irrational exuberance in the past few years (especially in Singapore in the past year - the mantra being IR, F1 etc. etc.) we are potentially swinging to irrational pessimism. Certainly, the situation is rather dire with regards to the financial system but I hope the real businesses which create value (unlike the bankers) will pull us through, of course, with some needed financing (which is still rather tight).
As for Vawch, we are struggling as well trying to create something in the middle of this turmoil. We have narrowed down our options on a change of strategy to hopefully see us through this period.