what is poor?
Newsweek last week succinctly asked a question that is in the mind of many people: “The island's economy is booming. So why are so many citizens worse off than they were 10 years ago?” The cause is a rising level of poverty and a stagnating middle class income in the past five years – while costs have gone up – all of which had raised fears that crime would dramatically worsen. The above is posted in www.littlespeck.com by Seah Chiang Nee. What our economists need to do now is to redefine the poverty line in Singapore. What is poor in Singapore is technically rich in many countries. And this has misled many to think that the lower income group who has a household income of $2k or $3k are alright. In reality, many are in a worst dilemma than the poor of underdeveloped countries. Those poors only did not have enough to eat but could live off the land. The Singapore poors are all in debts, huge debts.