We are back to the ground again. I may be wrong about the Capricorn effect happening in early 2009 but I was right when the market has proven to be superstitious yet again.
Stocks indices rallied in early 2009 but short-lived. The markets revealed weakness in confidence and market fundamentals.
More structured unemployment is expected. The economy is unlikely to recover until October this year and most probably turns for the better only in 2010.
In Singapore, we are about to celebrate the Chinese New Year on 26 January 2009. The first day of the lunar calendar. And each year we have a lot of celebrations for the New Year – 2009 is the year of the Ox.
But, the mood is not there anymore, many people I have known are very pessimistic about the New Year, and the common priority is job security which is a luxury now. You are lucky if you have one and if you don’t, you may have to beg for it. Kay from Money Talk has posted a news article on the performance of Singapore indices during each Ox year stretching all the way back to 1973.
So we are in another Ox year.
Never mind if you do not know what an Ox year means. It’s just some astrology calculation, click here if you are curious.
Whichever the case, pure coincidence or jinx. Common sense says 2009 is going to be painful and miserable.
When the CNY comes, I don’t know if I should get excited or worried. With global jobs migration, more competitors are expected and we will have more leavers moving overseas for jobs employment as well. Celebrate for a day and have fun but when I wake up the next morning, sorry, back to reality. Economy is still going down.
1 year is short when time is good but hell if you are out of job or have a mountain of debts to clear.
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