lucky singaporeans: delusion of wealth
most singaporeans are asset rich in their hdb flats. own a flashy brand new car, and earning a salary that is big when exchange rate is factored in. and now the govt is going to give them more money. wow, what a life as a singaporean. but the wealth of singaporeans is fleeting. the hdb flat is worthless once the lease expired. the flashy car is technically worthless after coe expires. the income and handouts from the govt will quickly go to paying all the bills, children's education, tuition and school fees, medical bills, conservancy charges, fines, erps, gst etc are the average or lower middle class singaporeans really well off? compare to their technically poorer malaysian cousins up north, i think the malaysians are very much better off, their worth in real assets and value of their cheaper currency. everything they are getting is cheaper except for imported luxury stuff which they can choose not to pay for them. by the time a singaporean wakes up from his delusory dream his assets would have been worthless, and he will be penniless and still a lot of unpaid bills waiting to be paid, and an expensive medical bill waiting for him to sign. he will be in debt forever. any economist willing to do a real comparison, apple against apple?