IMF warns of Spore inflation
'Singapore's inflation is likely to accelerate and policymakers should stay vigilant on the outlook for growth and prices, which may require the "further calibration" of monetary policy, the IMF said....' This is quoted from a front page article in mypaper today. When I read this statement the only thing that came to my mind is that the IMF is talking nonsense again. Where got inflation here. If there is any inflation, it is good inflation. These people from nowhere think they know better than the locals. A 5 rm flat may cost $30k 35 years ago and $600k today. But this is not inflation. It just so happen that Singaporeans have too much money and savings and don't mind spending that kind of money. And what's wrong with it when they can brag about how expensive and asset rich they are now? And then there are foreigners who are willing to pay more for the public housing flats. This is proof that the properties are worth every cent they paid for. It is not inflation and there is no inflation. How could there be inflation when the annual inflation rate is 3 to 5% or even lesser?