My Thoughts On SG Banks and SG Investment
While I informed of my friends a possible correction ahead this week and the month ahead, one of them asked me if the SG banks will be falling as well? I gave him a long message and it goes like this: "In US, the economy is protected via the stimulus. So when the 2nd stimulus is taking so long, economy get worse In SG, it is a bit different. We are protected by government in terms of everything, to the point have keeping our job. We are in a bubble wrap economy in SG. For example, just look at SIA, if government did not even come out with the stimulus plans, so many people will be out of job. The fact is - once this bubble is POKED and it will burst, the banks will be the 1st to hit. Big time. There are really many policies that is protecting everyone - like the wage credit scheme, the temporary covid-19 act that allows deferment of loan payments, forbearance of loan payments for mortgage, Temporary bridging loan by Spring Singapore (90% risk sharing), etc. Banks knows this and i...