It never rains but POURS!

From the straitstimes...

Surprise drop in retail sales
Retailers report 1.3% dip in February revenues as prices soar to 26-year high and worries over world economy linger..
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What's so damn surprisingly about it? Are journalists with fat pay packets immuned or so removed from reality?

Realty bites in the U.S. but apparently not really felt here.

Wachovia's loss shocks US financial sector
NEW YORK - WACHOVIA, the fourth-largest United States bank, has stunned Wall Street with an unexpected loss, signalling that the pain for the financial industry is far from over. Giants like Citigroup and Bank of America, as well as dozens of smaller banks, are expected to report weak results in the coming days and weeks.
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Sit tight everyone, Singapore should brace itself! But heck, no...NOT EVERYONE apparently...

Another headline:
Private home sales recover in weak market

With a caveat of course:
"But Knight Frank director of research and consultancy Nicholas Mak expects sales to stay thin in the coming months due to ongoing economic and financial market uncertainties. 'Homebuyers, especially in the mass-market segment, are expected to remain cautious until there is a sustained recovery in the financial markets and economic conditions,' he said."

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Although it is true that NOT everyone would fee economic pain during a bust period in the economic cycle, you have to wonder IF people are buying because:

1. They can afford it
2. They THINK they can afford it?

A whole world of difference there!