Inflation

We are well aware that the US Fed and JPMorgan stepped in to rescue UBS, pouring billions of dollars to keep the bank afloat, away from possible chapter 11. It seems ridiculous that a huge and reputable bank such as UBS could get away with mismanagement of funds and investments. Big banks go about squandering away money through ill investments and big daddy government bails them out.

This bailed out occurs amidst US debt that has soared to trillions of dollars, continued oil price hikes and US currency dropping to all time low with no economic recovery insight. There are those who believed US government is least concern with or rather perhaps intentionally wants the cause the US currency to drop as much low as possible since a low US currency would make the country more competitive in terms of exports capability. There are also those who believe in the greater US conspiracy theory; the super power nation has no means and has no intention to repay its soaring trillion dollar debts. A nation speaks the loudest when it has the strongest military might.

Whatever which way you choose to believe, it is evident that US economy is in for a rough ride, world renown investors such as Jim Rogers is pulling his money out from US currency basket and moving into Asia funds. Most Singaporeans are beginning to feel the pinch and the aftermath effects of the oil price hikes, faltering US economy and rising inflation.

I went for a medical checkout at Raffles Medical Center at Causeway Point today. Guess what? The basic doctor consultation fee has increased by 5 dollars. Thus a basic appointment and consultation with the doctor could easily set you back by at least 15 bucks. Medical prescriptions are charge separately. There is a joke that you can afford to die but you cannot afford to get sick. Apart from the oil price hikes now it seems there is sign of shortage of rice. Next what’s on the table for price hikes? We’ll see till then what's next on the card.