Times Are Bad

You know times are bad when a $150 shopping voucher angbao each year suddenly becomes $10. That's a whopping 93.33% decline. I'm not complaining, I never had an angbao from my employer before, this is the first time, but my colleagues are grumbling and reminiscing about the 'golden years'. So much for that.

You know times are bad when the economic situation is highlighted in every newspaper, news websites etc. Jobs are lost everyday, and pay cuts are coming through one at a time. Even gyms are cutting classes too.

You know times are bad when you don't have to call for cabs on weekday evenings in CBD, and there's no queue forming at taxi stands. But there's no reason for me to take cabs now because even my employer is cutting costs on transport claims.

You know times are bad when COE drops to $200 but somehow you wonder why no one serves you at the car showrooms because they're busy serving other customers.

You know times are bad when SQ releases 2 to go return fares to Paris/London at $1,200 all taxes inclusive. Damn it. I want to go. But strangely this year I've had less friends talking about going overseas. I'll probably redeem my miles if I want to go anywhere.

It's Budget Day today, and as usual, I wonder WIIFM - What's In It For Me.

For me, only the doubling of GST credits and 20% tax rebate. I would have liked more, but I guess having a few hundred dollars more to spend and saving 20% on tax payment is good enough. I shan't be too greedy.

Well, many of us expected a downturn, but this downturn is faster and more severe than many of us thought. What to do? I don't even dare punt on shares now. I think the best solution is to stash all the cash under bed.