I'm not being a plum, but I have been seeing everybody wanting to upgrade to 50D, buying L lens etc.. all big ticket items. But seriously recession is being declared world wide, Singapore is running on what other countries trade, we have no natural resources except skilled labour. We are dependent on MNC's here to bring home the butter. If these MNC's motherlands are calling recession, i should think to stop the blood from spilling further, jobs will be cut here. Our local companies here are following the cutting back, so called fats are being trimmed with no help from unions. Our gov, is not thinking of welfare and allows companies to hire and fire recklessly. Many friends and relatives will be in need of $$$ assistance, the needy will grow. The poor will be poorer. The sick will get sicker. When recession hits the 2nd year, then you will know whether it's doom and gloom or see a light fantastic.
So are you gonna continue sinking your $$$ to the photography poison? Will you be putting your plans for upgrade on hold? I think it's good to know how many of us are being hit by the so called recession bug. I think it's good to advise some who have not tasted recession or being fired from your job means - i just think some guidance is needed.