A Two-tiered Economy?

I recently came across some very positive comments on the Singapore economy on a popular US financial website. The author of the article (about overseas opportunities for Americans) and a reader commented that the Singapore economy was booming and that there were plenty of business and employment opportunities. The tone was consistent with other reports in the mainstream media, including those concerning higher pay raises and bonuses this year.

In contrast, I have various Singaporean friends who are having difficulties finding work. I also noticed that the licensed money-lender down the corridor from where I am doing a brisk business, with a lot of desperate looking people knocking on its door looking to borrow money.

Looking at the anecdotal evidence, it would appear to me that we now have a two-tier economy. Not everyone is enjoy the fruits of the rapid growth that we have in 2010.