YOUNG Singaporeans, who were raised in an era of affluence, have been indulging in a spending binge that appears out of line with economic realities.The splurge, which followed signs of a mild recovery in recent weeks, resulted in a strong price run-up in stocks, properties and cars, taking many economists by surprise.
For the majority of workers, jobs have been lost and take-home pay diminished.
Almost all Singaporeans, rich and poor, have lost out in the recession, the worst being the poorer class.
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