Singaporeans' worst fears have arrived, but it is not unexpected as being a small country dependent on the global economy, Singapore, like other nations, cannot be spared from the spill-over effects of the US global crunch.

Singaporeans, now is time to tighten your wallets and spend lesser. But for the 666,600 millionaires with a net worth liquidity of US $1 million(excluding property), they may not feel the pinch, unless their businesses are also affected.

For the adventurous, this is golden time to invest in stocks and shares as their prices are low right now.