Noi was telling me earlier this evening about a couple of tenants that Siew had found places for now asking for reductions in their rent, basically as a result of suddenly finding themselves jobless. They seem to be facing up to things optimistically, both assuming they'll be back in employment soon. I wonder if people here know what they are really in for? The papers refer to the Asian financial crisis of the late nineties as if that was something that had a huge impact on Singapore, but it was small potatoes compared to what I suspect is on the way.
It will be interesting to see if the relentless, wilful optimism of the local media survives the next year or so. In a sense, possibly a good one, this island is built on the myth of progress. The realisation that things sometimes fall apart, regardless of the virtue of your behaviour, will be a salutary lesson.
I hope it doesn't happen. I hope I'm wrong. (I often am.) Some lessons are just too difficult to take.
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