7/26/2010
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 $600k today. But this is not inflation. It just so happen that Singaporeans have too much money and savings and don't mind spending that kind of money. And what's wrong with it when they can brag about how expensive and asset rich they are now? And then there are foreigners who are willing to pay more for the public housing flats. This is proof that the properties are worth every cent they paid for.
It is not inflation and there is no inflation. How could there be inflation when the annual inflation rate is 3 to 5% or even lesser?
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7 comments:
Yes, as long as Singaporeans are happy spending a million for a dog kennel in the air. As long as Singaporeans are happy with paying hospital bills that will be as big as the cost of their flat....
Does Singaporeans matter to the Policy Makers? Is Singaporeans their concern?
Me thinks economic developments eclipse the wellbeings of citizens, at least this is one aspect every Singaporeans can witness for themselves. Wish and hope me am wrong in my reading!
Not happy to pay? Me repeats one more time You die your business!
patriot
We will be a nation of millionaires, every single one of us, with tens of thousand billionaires in the years to come.
We will all feel very rich, just looking at our banana notes. By then some may go bananas.
Our dollar has strengthen so much vis a vis the pound and US$. We used to buy one pound with $7 and US$1 with $3. Today $2 to a pound and $1.40 to a US$.
Should we be rich? But our dollar cannot match the price of fictitious and heavenly dog's kennels despite how strong our currency is.
Good for a laugh.
Ahhh and the landlord of the coffeeshop jacks stall rental by 200%... not inflation lah. There is no inflation, only an 'imbalance' according to Short ass Mah.
Singapore's MAS has expanded the money supply -- the fact are downloadable from MAS website. Continue to deny inflation if you like. That's ok -- there are many people who believe that there is a guy living in the sky -- despite non-evidence to the contrary.
I would like to exchange links with your site mysingaporenews.blogspot.com
Is this possible?
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