I could have inserted many more realistic stories of the markets and economy here to counter the almost brain dead optimism of recovery beginning from the middle of this year that the newspapers here regularly feed their printing presses but I wanted one from Singapore. This is to stick to "From Singapore to Dubai". So when I saw the Bloomberg video from Singapore's Finance Minster that "Worst of Credit Crisis Yet to Come", I tell myself this must appear as as story on this blog.
Get real folks, the global credit machine is so badly broken that we do not know how to repair it. All the fiscal measures are only to buy time. They do not solve the problem. And if you owe money and cannot pay, you are in real trouble. There is no borrowing from Peter to pay Paul this time.
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