You want to be rich?

You want to have big house, big pay, world class transportation? Sure, who will say no to such offers? Saying yes is a natural response. But be careful, be very careful. Read the fine prints. This was exactly what happened to the retirees who converted their FDs to minibonds. You want higher interest? How can anyone resist such an offer. But they did not hear the whole story. There is a price for everything. There are consequences. You want growth, pay your price. More foreign workers to compete for facilities and fresh air. They need all the living space as much as we do. Growth also means higher cost for everything and many more. Don't just simply accept a statement at face value.


:) said...

Easy money, easy go - no free lunch. Old, eyes are bad, read finprint!, so miniscule...& smooth young saleman (conman)just like used car saleman.

Anonymous said...

Most of the time the fine prints contain conditions that are skewed in favour of the party selling the products. Tan Kin Lian was saying that even financial experts have difficulty understanding what is written in the fine prints. And this is probably the loophole that the banks and other financial institutions have exploited over the years.

Anonymous said...

If even financial experts have difficulty understanding the products, all the more the lay person on the street should avoid them. Don't you think ? Those who were overcome by their greed to earn more compared to the abysmal interests earned in FDs have only themselves to blame. They are just as greedy as the peddlers and creators of these financial products.

Anonymous said...

The World probably does not need banks, stock and currency tradings. These are artificially created for money spinnings and launderings.

Maybe Barter Trading is still the best for the Human World.


redbean said...

actually i culled this statement from mah bow tan's comment in parliament, saying to the extent that singaporeans want growth and must live with the consequences of more labour pains from over crowding and foreign workers. without them, our standard of living will suffer, cost of living, cost of labour will go out, and singaporeans will lose out.

what a simplistic statement of tooth. so singaporeans better be grateful.