1/16/2011
We need more cooling measures
The latest bout of cooling measures to curb property prices is touted as a very well thought out plan. The previous three measures thus must be not too well thought out. And if this one does not work out, the next betterer thought out plan will be rolled out.
Curbing high property prices is not the only area that needs cooling measures. We need cooling measures for COE prices, university tuition fees and of course medical fees. There were some hints of curbing high legal fees in the private sector. That is also an area that many cannot afford to pay to the top legal eagles. They are so good that they could even demand an arm or a leg from their clients. And affordability is never an issue.
So far the only real cooling measure that works is the salary of workers. Real cool man.
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5 comments:
These cooling measures are just soft pedalling on the brakes because the "vehicle" is rolling down the hill into the ditch.
Wait until the danger is over and then there will be "boosting" measures again with another round of champagne popping and a pat on the back for another job well done.
I say, fuck all these measures. Curb easy credit. Raise interest rates. Hit the speculators hard and send them either to the IMH or the top of some high rise buildings to fly down like wingless birds.
And immediately chopping the root cause of all these misery, the unimpeded import of foreign "talents" and "special offer" newly minted citizens would be an absolute necessity.
P.S.
Stopping money creation should also SLOW the Velocity Of Money -- the final "element" in the machinery which causes prices to rise rapidly due to excess money supply.
When interest rates rise and banks curb ezy-credit, the propensity for people to SAVE is enhanced.
i.e. being in debt: expensive. Being a net creditor: extremely profitable.
If after all the cooling measures and it still cannot work, I think it is time to reshuffle the cabinet or better still, change the cabinet.
No use making calibrated, targeted or pre-emptive measures that do not work.
So long foreigners are allowed to buy property, all cooling measures will fail.
And
so long foreigners are allowed to work in Sin, Mininmun Wage Scheme will not work.
Is it so difficult to understand?
anon 424 -- flawed argument.
> So long foreigners are allowed to buy property, all cooling measures will fail. <
What is the difference from a money/ market exchange point of view between a foreigner's money and the money earned in overseas ventures (like export) by a Singaporean?
Zero. Zip. Nada. No difference.
Yet another xenophobic/ racist argument exploded into oblivion.
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