Things have become too expensive in Singapore. You name it and the price is probably much higher now than just a few years ago. This has led to not just a few people thinking that a recession is probably good for the country as it will bring down prices and that these lower prices are beneficial to Singaporeans. This is pretty one sided in thinking. Nonetheless, there is more and more talk of an impending recession and some "gurus" are seeing precursors of the 1997 Asian Financial Crisis now. Would it be Thailand to lead the pack again? Or would it be Malaysia or Indonesia? I have been through quite a few recessions and I can say with certainty that they were not pretty. In severe cases, people lost their jobs and their homes. In many cases, people took pay cuts and had trouble making ends meet. The 1997 Asian Financial Crisis was particularly depressing ......