Oops, here we go again!
The world economy is at risk of another financial meltdown, announced the International Monetary Fund.
The Washington-based lender of last resort has claimed that, with global debt levels well above those at the time of the last crash in 2008, the risk remains that unregulated parts of the financial system could trigger a global panic.
The warning from the IMF Global Financial Stability report echoes similar concerns that complacency among regulators and a backlash against international agreements, especially from Donald Trump’s US administration, has undermined efforts to prepare for another downturn.
As if companies around the world aren’t retrenching fast enough every month, the working class has more to worry about now as the world economy prepares itself for yet another financial crash!
This will, in turn, translate to higher operating costs, lower profits, rising levels of inequality and other such negative effects in the near future that will affect companies big and small around the world.
What does this mean for the common working people, especially those working full-time or those with high salaries? They have a higher risk of losing their jobs! When the world economy is in for another financial meltdown, we can all be assured even more companies around the globe will be bracing for bigger retrenchments!
Singapore is no exception with its recent news of StarHub, one of the major phone operators here, about to retrench 300 staff as part of its S$25 million restricting.
What does the future hold for the common working folk as retrenchment becomes a global trend with the bleak world economy looming ahead for all of us?
Work part-time instead of full-time, maybe?
I do it because I can.
Visit www.freeboh.com to look for flexible part-time jobs.