The new gold mountain金山

California or North America were once called the land of gold mountains in the 19th century. This honour should rightfully go to the new star called Singapore. It now boasts of an average income of US$56,532 per capita in 2010 and the number would balloon to US$137,310 in 2050. Even if S$1 could buy US$3 by then, it is still a handsome amount to be had. The Sinkies would be the richest people on earth several times over.

With this forecast, our population would be 20m or 50m if we are not careful. The citizens of the world would be forming a beeline here, to be in Sin. And Sinkies, what are you waiting for? Go and make babies quick. The average income of these future Sinkies would be almost US$100k when they are 28. And they could easily buy the best HDB flats even if it costs $5m each. No problem.

And this number is only applicable to the average Sinkies. The top 10% could be earning a hundred or two hundred times that. And it would be something like US$10m or US$20m that. Maybe this is too small as many are already earning this kind of money today. Make it US$100m or US$200m, think that would be more likely.

I would not know how people of other countries will be getting. Neither would I know how much it will cost to buy a home or a car or a plate of chicken rice then. But throwing such numbers around today is like day dreaming and saliva dripping from the corner of the mouth.

The future for Sinkies is very very rich. There should be no reason for Sinkies to worry about affordability in bearing children. There is a good life ahead for them. The best the world can offer.

Just a question. How many of you are earning US$56k pa today? Actually the average Sinkies today should be earning at least US$60k or S$78k. Anything less is below average.


Anonymous said...

GDP per capita is not a direct measure of a country's wealth. It is at best a proxy and can be skewed by many factors.

For example, Qatar has a per capita GDP of over $100,000 (according to the CIA factbook). This does not mean that the average Qatari produces $100,000 worth of GDP. Oil and gas make up 90% of Qatar's GDP and since it's extraction requires little input (value-added is output less input)it distorts the GDP. It has virtually no other economic activity and the native Qataris are all employed by the Government doing fuck-all.

To get a more accurate measure of a country's wealth you have to look at other indicators and indices such as the Gini coefficient, the UN HDI index, M3 relative to GDP and so on.

Anonymous said...

The per capita income can easily be raised to $300k if the govt keeps inflating everything, housing, services, cost of living, and raise the salaries at the same time. LPPL.

Anonymous said...

8.59 please lar u think red bean does not know? He is just being sarcastic lar

Anonymous said...

Keep breeding, keep bleeding.

Anonymous said...

Agree with Anon 9.05 a.m.

If redbean can use his brains and hands with a bit of guts he can also monetise his redbeans and earn a more than decent $$$.

Anonymous said...

Yeah right,
if Sin gal monetize
herself, no danger of
having to be maids in foreign lands.

Anonymous said...

Being the richest city in the world, why is it that we are not even near the Swiss standard of living huh?

What kind of quality of life are the Sinkies leading when $50k pm salary is not good enough?

Anonymous said...

Anony 8:59 AM

I am sorry that you know every thing but you do not know what Mr Chua is saying,for me,it is a pity.

Chua Chin Leng aka redbean said...

Hahaha. Ok I will take Anon 8:59's advise and go read a few more books: )

Anonymous said...

Sir,Anonymous 8:59 AM is a good teacher as well,try to digest his statement,then you sure know every thing you need to know about GDP,you should thank him for the knowledge,but of course not the wisdom.

Anonymous said...

No, no, no, I rather not know. I do not want to know.

Anonymous said...

RB 2.30pm,

Read more books no use but you must swim in the right river.

Anonymous said...

Anon 4.34pm is right. Swim in the right river and anybody will find their gold mountain, big one or small one is up to you.

Swim in the wrong river you will waste your time and effort, you would have lived for nothing.