In praise of Greed
68 medical specialists left the public sector to go into private practice. And the lure is a ten fold increase in income. Current income of public sector specialists ranges from $12k to $60k pm or $160k to three quarter of a million as compare to a million to 5 million in the private sector. And with COE hitting the $100k mark soon, these poor doctors would not be able to buy a decent car to drive. Nothing is wrong with the specialists wanting to earn a few millions a year. What is fearful is that the next round of salary increment in the public sector for medical specialists would push medical fees out into deep space. But that is the price to pay for a booming economy when there is so much money to be made and with a price tag of a few millions for anything as only small change. The way it is going, all the specialists should soon end up in the private sector, and more private hospitals can be built to reap more profits from this life and death business. The public sector can never hope to compete with the private sector on money alone. If they do, it will create a continuous domino theory with every other professional expecting to earn more than the doctors, starting with the politicians. We now have a great trend going in the property sectors when everything is for sale for more profits. And the foreigners are not short of cash with liquidity flooding the world’s financial system. The Chinese, the Indians, the Europeans and Americans are all pouring their petty cash here to sweep up every available property left. The recent announcement of Caldecott Hill being available for good residential properties could see more being built and sold off. And the GDP numbers are going to look very good indeed. Everything is for sale, for profit and for money. For those who fall into the CBF category of workers, tighten your seat belt and trouser’s belt. The ride is going to be exhilarating. We are in the best of time of our economic boom. The big cars are selling fast even with $60k for a piece of COE. The good times are here.