Federal Reserve Chairman Ben Bernanke said that the current recession is 'very likely over'. - Yahoo news.

Yay! Good news!

But wait, what recession?

The recent Comex held at Suntec Convention Centre apparently generated the highest record of $63 million in total spending on gadgets, computers, electronics... the sorts!

$63 million! Like hello? What recession?

This year's NATAS Fair was also kept really busy with many Singaporeans signing up for short trips to places like Malaysia and Korea.

Like hello, what recession?

Every weekend, you still see restaurants in towns and heartland malls packed with people, long queues even, for popular ones.

WHAT RECESSION?!

So you see, I have no idea why the government keeps saying we're in a recession when I still see so many people spending on these "wants". I really don't feel like it is a recession, unlike the 1998 Asian Financial Crisis, when I remember my parents were quite affected. Then, we had to dig coins, yes, coins, from a purse to buy a frozen chicken for dinner. Sigh. Those were the days.

But as Chuanyan wisely pointed out, in Singapore, we have the middle class, which keeps many Singaporeans cushioned from the full impact of the recession.

Even though I don't feel the full heat of recession (probably because I am still a student), we still have to remember the working class. They are the ones who feel the heat as they earn little, with no ability to save up (I once overheard a supervisor asking about the salary of a Chinese MRT cleaner - the pay was only $700).

As for me, I still need to really be more prudent in my spending. Hmm. University fees repayment will start next year!