Hoping for calm

Here comes the bear...

Haven't you heard? Technically, we are in a recession. The first time we've had a technical recession since 2002. That came off the back of the 1997 Asian financial crisis. In fact it's been a long-time coming. Something we've always known was gonna be here, a matter of when, not if. I'm no financial analyst, neither am I a stock market savvy person, but the signs were here more than a year ago when the world economy hit a speed bump and oil prices started escalating to record prices.

Back then, I kinda had a feeling that a recession is gonna hit us soon. Now that it's here, the word on the street is that depression may set in. If it ever get's that bad, then we'll all be in for a rough ride. Should I be worried? With all the talk of recession and depression ala 1930's, who wouldn't be? In an instant, life savings could be wiped out, bankruptcies and joblessness. Still I retain a little bit of optimism, in spite of all the turmoil swirling around us. While we are still being buffeted from the worst of the storm, and while I expect that it won't be long before it smacks us right in the face, I believe, it's not the end of the world.

Right now, while I do fear what the future may hold, I have faith that it will get better. It's only a matter of time. The only problem for many of us is that we suffer losses we think are too great for us to bear. Then when the fear sets in and panic starts, our hopes turn into desperation. Honestly, I won't be surprised to read of suicides when the economy don't rebound as quickly or takes a turn for the worse. I can only pray that none of my friends come to that.

I for one will hold on steadfastly to my shares....I mean beliefs that it will get better.....I hope...

Speaking of hope, fear, panic and the erosion of confidence, I can't understand the attitude of some Singaporeans. Case in point, the middle-class folks living in Serangoon Gardens.

First of all, if the people living in Serangoon Gardens and other landed properties are middle-class, does that makes 70% of Singaporeans who live in HDBs low-class? Where does that put the Condo owners and those who are renting and not owning their own flats? Or is it the fact that they live on landed property that makes them more sophisticated than the rest of us and gives them the right to be snooty and snobbish. C'mon, you all breathe the same polluted air I do, and don't you dare call me low-class!!!

Secondly, what's the hullabaloo about the foreign worker dormitories being set up in Serangoon Gardens? I can't begin to understand the resistance to the dormitory being setup there. Security? C'mon, since when did Singapore become an exclusive society and why pigeon-hole the foreigners as a security threat? Are we really that better than them?

Lastly, have the folks at Serangoon Gardens forgotten who we, Singaporeans, really are? We were, if I am to be honest, are just a bunch of immigrants flocking to this little red in search of a better life for ourselves and a better future for our children. Off the 5.8 million people who call Singapore home, one would be hard-pressed to find anyone who can trace their lineage back to the original inhabitants of Singapore - all the back to when Raffles landed here.

Save for the few, we all can trace our ancestors to lands as far away as Indonesia, Arabia, India and Mainland China to mention a few. We all fought for our stake in this land over the decades, why deny the hopeful newcomers their chance at a better life? You won't live forever and your children may even go off to other countries and stay there.

Personally, I think it's all to do with our fear of the unknown and uncertain. When the unknown and uncertain gets forced upon us, the erosion of our faith and our beliefs starts. And when hope turns to despair, fear and panic sets in. My guess, is, that's what's gripping the world and to a certain extent, Serangoon Garden folks.