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What is the financial health of the average Singaporeans?

The 2% increase in GST is really peanuts. It is what comes after that is going to kill the average and below average Singaporeans. And if any average Singaporean is going to think that his normal expenses are going to increase by not more than 10%, he is insane. I am waiting for the academics and those statistics churning machines to put out the real picture of the real increase in cost of living to the average and below average Singaporeans. And with that, they should redefined subsistence level or poverty line in Singapore. How are the recent increases going to affect families with $2k, $3k, $4k or $5k income? Forget about those with family income of less than $2k. Their life is bleak. They shouldn't be living at all.


Anonymous said...

Just out of curiosity, which organisation is going to undertake this survey? Would the findings be accurate or will they be massaged to suit the political climate? Even if you can find an independent organisation to conduct the survey would this organisation be free to publish the result?

redbean said...

ya, let's talk about the great promise of a bright future. let's not talk about the gloom. let's talk about the stuff and hear the good stuff.

would our professional and objective msm be an instrument to keep the public informed of the tooth?

the academia is conspicuously silent on all the happenings lately. they may agree that all is well and there is a great future down the road.

singaporeans should enjoy the good time now and a better time tomorrow.

Anonymous said...

3 cheers for Singapore, the land where all are bright and rosy. Roads will be paved with gold and no one will go hungry and there will be no more tissue sellers at MRTs or foodcourts. Nowhere will you find cardboard or tin can collectors. Hurray, hurray hurray for this land of milk and honey.

Matilah_Singapura said...

Any figure is bound to be inaccurate.

Many S'poreans will not reveal their true net worth or money making activities.

There is alot of CASH transactions, and people store their money in personal safes et al, instead of making bank deposits (where there is a record)

Don't forget, there is a healthy underground economy too—the "boh cheng hu" economy—everything form loans, to racing, to labour supply, contraband liquor and tobacco, drugs, gambling, sex for hire...and you can see that by demand driven markets, consumers want their "stuff" even though the govt has "banned" or "controlled" those goods and services.

It seems that I'm not the only one who thinks that Tax IS Theft. God bless the "criminals" for they provide the missing pieces in the market!

Anonymous said...

lottery scams, daylight armed robbery, unwarranted price rises, cabby touts... these are signs of our financial health. I suspect this is the tip of the iceberg.. just pre-casino days.

Anonymous said...

Is that possible to have crime rates drop after the casinos open?

redbean said...

when can take the pulse by looking at the number of people willing to pay $5 per pass through the erp.

my lunch is on $3!

redbean said...

crime rate will remain low as there will be plenty of opportunities to make money, legitimately or moonlighting.

with so many paedophiles and men looking for men, these two industries will get a real boost. a lot of vacancies.

Anonymous said...

redbean when u are positioned in the right market, u can be a millionaire too.

redbean said...

actually anyone can be a millionaire overnight. a little luck is all it needs. that keeps many singaporeans going.