Slaying the spectre of inflation

This is what an article in the ST is saying about the aim of the next budget. I think it is silly talk. The inflation beast has been carefully nurtured to grow to this size today, and everyone is so happy and delirious about it. The developers were encouraged to build and sell at an ever high price in a bidding system that can see prices going one way. The landlords were given a free hand to keep increasing the rentals under the guise of market forces. No need to mention about what HDB is doing. No one can meddle with market forces. The end result is a happy result. Owners of properties are all laughing at the value of their flats and private properties. And the best part, everything is simply affordable. The higher the prices, the more affordable they become, and the people can see more value in them. Higher medical bills are appropriate for world class hospitals. And rich people are discouraged from opting to go to lower class wards and pay less. Our education system is so high quality measured by the high fees that students are paying. As they say, quality and good stuff don’t come cheap. You want quality, you pay for it. And of course, with the money we are paying, we have the best quality govt in the world. An European talent said that Singapore is the best place for the future in the ST today. What more proof you need? What inflation? Where got inflation? It is quality. Everything is about quality. And Singaporeans are so rich that they can afford all the quality stuff in paradise. Singaporeans are paying the most expensive cars, housing, medical, education and almost everything. Please, please don’t slay the inflation beast. It is good, a sign of progress and better quality of life. The more Singaporean spent, the faster the economy spins, and the economic numbers will look better and better. Actually we even heard people saying, where got inflation? Everything is affordable, affordable understand? Everything is fine. Kindergartens are fine, fining parents who are late for a good cause. $2 for every 5 min. And of course the fines are affordable. A sign of things to come after the election. SMRT just increased night fare from $3.50 to $4. 50 cents only what! Imagine what would it be if the PTC would have gone through their fare review exercise? It is either now or later. Guaranteed better services after the next fare hike.


Wally Buffet said...

We have not yet reached the stage as in Japan where ONE banana costs US$5.

So just relac willya?

Matilah_Singapura said...

The idea of inflation is built into the current "growth model" of Hotel Singapore.

No point complaining -- get used to prices rising -- and this is likely to continue for years yet.

Hyper-inflation is the real danger. But that hasn't happened yet. Also the data from MAS and Sing Stat indicate that hyper-inflation is unlikely -- at least at this point.

...and like you've already said: people generally like inflation -- asset prices are high, loss of money available for loan at low interest.

Matilah_Singapura said...

correction: LOTS of money available for loan at low interest.

Anonymous said...

"LOTS of money available for loan at low interest". Unquote.

Without collateral security? Sir! Then Sin will be the Best Place to be in the World. Mati mati must stay here la.


Matilah_Singapura said...


I'll give it to you straight -- you can take it or leave it, I don't really care.

Here it is:

Singapore is one of the top places in the world to be provided you have the freedom and choice of a "cosmopolitan", or a foreigner, or a Permanent Tourist (aka Hotel Visitor..like yours truly).

However if you are a "local" -- in the broadest sense of the word -- Singapore could annoy the fuck out of you and you're probably going to be struggling financially, -- although not as bad as people in other cuntries -- not have the liberties of a western democracy, and generally have your life dictated to you by the government. However, many people like it this way.

As I said: up to you. I've already made my choice.