Singapore Survives – Global Growth Tanks

Readers / visitors from Singapore have now overtaken the total number of visitors to Forex Kong from all North American countries combined.

A recent study has found that the number of households with investable assets of US$1 million (S$1.26 million) or more rose 14 per cent to 188,000 last year. That means 17.1 per cent of households – or one in six – are millionaires ( this data may be a full year old ).

Wow.

That’s like sitting down for dinner at your local McDonald’s and knowing that there is “at least one millionaire” sitting at the 4 or 5 tables surrounding you – although I don’t imagine many of them are “actually sitting at McDonald’s”.

Some other interesting facts about Singapore:

• Singapore is the fourth-largest foreign currency trading center in the world, according to the Bank for International Settlements.
• Singapore is the fourth-strongest financial market in the world. The World Economic Forum praised the country for its high degree of financial stability, bank efficiency, and commercial access to capital.
• Singapore could overtake Switzerland as the world’s largest offshore wealth hub by 2020, according to WealthInsight, a London-based research firm.
• There are more than 500 players in the asset management industry in Singapore, with total assets under management of more than S$1.4 trillion.

Obviously something must be going right for these “astute investors” and I’m very pleased to see their numbers growing.

Perhaps a couple of them may have managed to “push through the my sarcasm and disdain” – and taken precaution to protect their profits / exit the markets some months ago – I dunno but……I’ll be hard pressed to hear of any “American Bulls” that have survived January thus far. Impossible.

I expect a “slight bounce” here, providing a last chance opportunity to re-evaluate your current holdings before the real fun begins. As per charts/banter going back some weeks. Global risk has clearly topped.

I’ve seen plenty of waterfalls in my days ( those of  Costa Rica the finest ) but have visions of “this one” topping all.

A shout out to Singapore and good luck to all!