Thebaleshimi
Insurance is considered in my opinion to be a primary document of a person's existence;compared closely to birth certificate or marriage certificate. It basically involves oneself to be committed in an area unforseeable by anyone. The Future.
The Future is all but predictable. A King can turn pauper in a day. No one is able to even anticipate how the world changes with respect to the practical implications it has on an individual. Economist and financial analyst can only study the patterns of economical change from hisorical evidence. They can perhaps be able to predict vaguely the trends that could be seen in the time period ahead.
Unfortunately, their jurisdiction to ensure that individuals or governments are prepared and prevent downturns are only in the academic sense of releasing analytical papers that merely suggest what is expected of the economical situation. These give us an idea of what to expect but does not tell us what could be done to circumvent such inevitable,catastrophic economical situations.
Insurance is the key in my opinion with regards to how an individual can circumvent such situations as deem detrimental to one's financial well being. It does not only give an advantage over the insurer but in many instances to the family members who are overburdened when the insurer dies or bed-ridden. Death or disability is unavoidable. We must begin to accept that life is not all a bed of roses in a protected garden of eden.
It is absolutely imperative that we are well insured especially at times like this where we have no foresight on the future of the world economy.
Predictions and Analysis are quintessential and so are Preventive Measures
Tuesday, December 15, 2009
Global Economy and Us
Thebaleshimi
Volatility in the world's economical situation is unpredictable with the rise of terrorism and the crashing of ''banking giants'' like Merrill Lynch and Lehman Brothers. At the same time, the economies of India and China are growing fast,sturdy and undetered.
Economists have pointed out that changes in the world market system, inevitably affects our individual lives. Shares may fluctuate impropotionally and living standards may increase at an alarming rate. And with the recent onset of the climate change issue at Copenhagen Summit, countries would thereafter reduce its carbon emissions, thus reducing the productivity at industries. Students of economics might already know, that the core of any economy are industrial productivity.
How it affects Singapore and its people? Singapore is a service hub. Infact studies have shown that more than half of our gross net profit are means of services, i.e harbour, oil refining. With the reduction on carbon emissions, our industries are susceptible to catastrophic impacts.The major industry in singapore are its oil refineries. Think about it.
Are we prepared? What is going to happen when our economy collapses? Are we insured enough?
Volatility in the world's economical situation is unpredictable with the rise of terrorism and the crashing of ''banking giants'' like Merrill Lynch and Lehman Brothers. At the same time, the economies of India and China are growing fast,sturdy and undetered.
Economists have pointed out that changes in the world market system, inevitably affects our individual lives. Shares may fluctuate impropotionally and living standards may increase at an alarming rate. And with the recent onset of the climate change issue at Copenhagen Summit, countries would thereafter reduce its carbon emissions, thus reducing the productivity at industries. Students of economics might already know, that the core of any economy are industrial productivity.
How it affects Singapore and its people? Singapore is a service hub. Infact studies have shown that more than half of our gross net profit are means of services, i.e harbour, oil refining. With the reduction on carbon emissions, our industries are susceptible to catastrophic impacts.The major industry in singapore are its oil refineries. Think about it.
Are we prepared? What is going to happen when our economy collapses? Are we insured enough?
If jobs are lost, are parents able to fork out enough cash for their children's studies?
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