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5/03/2012

Workers want pay rise to fight inflation




Just as I posted that workers were rejecting the pay hike recommended by Lim Chong Yah, today’s ST front page news screams, ‘Give pay rise to fight inflation’. And what is this nonsense about pay rise to fight inflation when we just heard over May Day that pay rise will cause inflation? I think I better shout, May Day, May Day, May Day…

I am getting very confuse. On one hand the good old professor wanted to help the workers by calling for more pay hike but got slapped by workers left and right. Now workers want to have pay rise, and to fight inflation when pay rise is the reason for inflation.

KNN, dunno what to say anymore. Who is right? Or who is talking rubbish?

I think it is time to engage a foreign consultancy to look into this confusion and come up with a good explanation to please everyone. Money is no problem.

11 comments:

Veritas said...

We have to ask ourselves who created all these inflation? Since SGD is reasonably strong, the inflation due to import are reasonably mild. If we look at publication from government, the most important component of our inflation are property, followed by transport.

That is to say, PAP has been benefiting from inflation they created while everyone suffer. To mitigate the effects of inflation plundering towards the businesses, workers wages must be kept depressed.

This is some of the most obnoxious scheme to transfer what rightly belongs to workers to the state.

Anonymous said...

Many others are similarly confused. Did it not occur to you that this is a clumsy attempt by the unions to show that they are independent of their controllers? They have no previous experience. Recall the late Ong Teng Cheong`s account of the horror his cabinet and union colleague expressed when he sanctioned the only strike under the regime?

Veritas said...

The property inflation benefits both the landlord, banks and PAP. The COE inflation benefits PAP. For the past few years, both parasites have enriched themselves massively by using inflation as a tool to transfer wealth from poor to rich.

Now, when the workers want to fight inflation with wage rise, they whine, wage rise will cause inflation.

Anonymous said...

Hehehehe. PM said payrise will lead to inflation. Now workers say they want payrise to fight inflation.

Matilah_Singapura said...
This comment has been removed by the author.
Matilah_Singapura said...

Price inflation is ALWAYS a monetary issue.

Sing Stat latest data (May 2012)

5.2% inflation? No wonder. Look at the figures for the growth in the money supply. At 5.2% inflation, if you are disciplined a money-saver, you are essentially saving yourself to POVERTY as what you put away diminishes in purchasing power.

Ron Paul is calling to end the Fed.

I say we do the same and close down MAS and sack everyone, and return the currency to Treasury, as it was in the "old days" when it was a charming small building opposite the Victoria Theatre in Empress Place by the river.

Singapore govt -- far too big, way too fucking expensive, too many overpaid "executives" doing fuck-all, for such a small territory.

Anonymous said...

And they are encouraging the daft Sinkies to put more money into their CPF. What will happen to the money down the road does not need much intelligence to guess.

Veritas said...

Not only we should close down MAS, we should return to gold and silver bimetallic standards.

The plundering by elites and PAP is so stealth and clever that I would really like to write a book about it. 50 years ago, a building was build by manual labour. Today, with bulldozer, cranes, trucks, explosive, 1 workers would have the productivity of 100 workers compared to 50 years ago.

Since our property is being built so cheaply, why most inflation occur in property? By right, since things are done cheaply, we should have deflation. The property price should keep falling each years.

The reason is the funny monies called Sing dollar created by MAS and fractional reserve banking system creation of another funny monies M3.

To put things short, the plan of elites is to create inflation in asset, in order to increase the wealth of the elites relative to workers.

Besides this, asset inflation will cheapen income earned through wages, making workers perpetually under slavery the moment u want to marry and buy a house. It make the son of the worker, the son of son of worker under perpetual enslavement.

Asset inflation transfer financial power from the productive young, the productive FT, the sons -- to the rentier old and useless dynastic clan.

We need to awaken Sinkies that the true nature of asset inflation.

Asset inflation will not happen under gold standard for decades without quick correction of bubble. (too long to explain)

Anonymous said...

To bring down inflation and cost of living the government should take immediate action on the following.

1. Bring down all ministers pay to more realistic level. Cap the president and prime minister's pay to not more than five hundred thousand Sing dollars per year and that of the lesser ministers to between two hundred to three hundred thousand Sing Dollars per year. Remember no one is indispensable. If they are not happy they can resign enmasse. Singaporeans can then look for overseas talent who might be better, more intelligent,more upright in ethics and morals and more realistic and down to earth to accept lower salaries to run Singapore. That goes the same for all senior government posts and CEOs and directors of all government linked companies. They should not indulge in milking the government coffers and government linked companies for their own selfish ends.

2. Do away with COEs and ERPs. In place issue a limited number of new car purchasing permits annually and subject it to drawing lots to determine who gets to buy the cars.

3. Reduce GSTs to three per cent and exclude it from citizens medical bills. It is really cruel and unconscionable to charge patients GST for medical bills. It is really worst than gangsters' or mafia's extortion money .

The high ministers' pay, GST
ERPs and COEs and many unnecessary indirect taxes all contribute directly to inflation and high cost of living.

The Pappies must either mend their self serving ways or the people will have to show them the way in 2016

SG

Matilah_Singapura said...

@ Veritas

Asset inflation wins elections ;-)

Singaporeans just love it when they hear their HDB (or condo or whatever) has gone up "xx percent...Wah lau!" And they feel like they've "gained something" without even trying.

Psychological experience (even though its a delusion) beats reason and logic anytime.

Although I dream of discarding MAS, the reality is that they'll probably get bigger and stronger. Fractional reserve banking and fiat money is here to stay. The days of hard precious metal based currency are gone.

...but that doesn't mean one still cannot buy metal. As you will notice, the trend is UP as govt money printers push the purchasing power DOWN, and the only people who really "win" are bankers and the finance assholes. Anyone who produces "real wealth" -- from entrepreneur to low-skilled worker gets a nice fucking.

I am an unapologetic free market capitalist. However it doesn't work if you have the state come in and fuck up the market by the edicts of the elite. Once govt and business and unions get together...the game is done.

Hence my theory of "being prepared" by fucking off all states and becoming a PT (Pemanent Tourist, Perpetual Traveller).

Human beings -- one-on-one are usually fine. As large groups, like a herd, they are assholes and easier to manipulate -- a skill the PAP are adept at.

The People Get The Government They Deserve... for who is "the government"? They are none other but the people in your cuntry -- your neighbors, maybe even your family.

Gintai_昇泰 said...

Yelp really KNN! So much confusion. They seem to be goin haywire! What's going on?