I'M depressed. No, it's not just the state of my stock portfolio that's getting me down, it's just that I'm having trouble coping with this latest kiasu activity that Singaporeans are indulging in.

With all this talk about the financial disaster poised to hit home by next year, it's as if Singaporeans are competing with each other to see just how many luxuries they can do without in order to prepare for the bad times ahead.

You can't go anywhere these days without being bombarded by stories about how people are taking public transport, buying frozen meat, looking for the cheapest meal deals, and cutting short their holidays.

Why, if you so much as think aloud wistfully, 'I haven't had good sushi since . . . ', you're given a look of self-righteous horror usually reserved for those lacking in basic social hygiene.

These are the same people who just recently were playing a 'Spot The Melamine In Your Daily Groceries' guessing game before it became passe and they replaced it with the 'Now You See A Minibond Refund, Now You Don't' lucky draw - although I'm told that they might have to stop doing that soon because too many people were caught downplaying their educational qualifications and lying about their ages.

So now it seems the trend is to see just how much they can deprive themselves of now, to prepare for what they see as the inevitable great depression.

I would not be surprised if some people have already prepared ready bags for the occasion - you know, a small radio in case their 52-inch plasma TV gets repossessed, a flashlight to help them read on designated no-electricity-on-alternate-nights, a book on morse code should they have to relinquish their iPhones, and packets of beef jerky should they ever forget the taste of a grilled Wagyu ribeye steak.

That said, how prepared are you for the future pain that is about to be rained upon us?

If you don't know, then take the following simple test to assess your resourcefulness in a time of adversity: 1) You are about to order a plate of char kway teow.

What is the first thing that comes to your mind?

a) I want a $3 portion with extra cockles and chilli;

b) I'll order the smallest $2.50 portion and distract him so that he doesn't see me cracking an extra egg I hid in my pocket into his pan.

2) Your favourite luxury label is having a sale. What do you do?

a) Arrive two hours before opening time with the model number of the bag you want;

b) Convince yourself that if things get really bad, you won't have anything to put into the bag, so don't bother buying.

3) COE prices fall through the floor. What's your reaction?

a) Why, why, why did I buy my car at the peak? Why, why? Now I have to buy another one because if I don't, I might not enjoy such a low price again!

b) I think it will go down even more. I am happy with my fully-paid up Japanese sedan that can still offer me several more years of trouble-free albeit unstylish motoring.

If you answered mostly a's, chances are you are waiting for a letter from the government saying 'Doom has arrived' before you put on your austerity jacket. If you answered mostly b's, congratulations, you perfect specimen of level-headedness.

You are so not fun.

This article was first published in The Business Times on Oct 25, 2008.