Just
a generation ago, the 70s and 80s, which was not too long ago, the average
citizens were not rich and so was the country. I am not looking at the 60s as
those were the formative years of our nation, rough and tough and life was very
basic.
In
the 70s and 80s, though the average income was not that great, when the average
white collar worker took great pride in earning a four figure salary, below
$2000, life could be good. With that income, many could lead quite a decent lifestyle,
own a car and a 3 or 4rm flat. Those with double income could afford landed
properties, semi Ds, at worst 5rm HDB flats. And they had very little financial
worry as debt to income ratio was small.
We
progressed, the country progressed, bigger and better housing, better quality
of life till the 90s. Today we are still progressing and people are getting
richer in their income, 5 figure salaries or more, and some are getting
extremely rich. But the signs of strain and pressure are showing among the average
Singaporeans. Many are high in debt because of mortgages and housing loans and
study loans for their children. And the axe over their heads, a big medical
bill waiting to drop on them. Superficially, things are still looking very
good.
The
question is whether this life style and the cost of living are sustainable? Are
the lives of the average people getting better or going down? The salaries are
much bigger, the quality of housing are better, but people are starting to buy
into smaller and smaller homes. Car ownership is getting to be extremely
expensive. Quietly the govt is starting to sell the message that life without a
car is good. Smaller flat is good.
Should
not progress comes along with better quality of everything, that the higher
income should be better, bigger housing and easier to own cars and better cars,
and lesser financial worries? The growth formula for the country looks right,
but the quality of life formula for the average Singaporeans is starting to
look wrong.
Could
the rapid growth be slower, smaller population, lower cost and better quality
housing and easier car ownership be part of the growth formula instead? Can the
economic growth formula be tweaked to enable the average Singaporeans to live
in bigger and better housing, with smaller debt and many more be able to own
their cars and with less financial worries about bring up children and making
ends meet? With so much growth to show, so much wealth in display, with so much
good things in the offering, why are people finding it difficult to give
themselves better homes and to be able to travel in the comfort of their own
cars? Aren’t these good things a part of progress and contribute to the well
being of the people? Good homes and cars are the things that the people desire
and aspire for. Depriving them of good homes and car ownership cannot be
progress, cannot be a better thing.
Have
the growth formula with unacceptable large population on limited land over
extended itself and the flaws starting to show, and the benefits become
marginal if not negative? What is the point of growth when the good things in
life are no longer available or in smaller portion? And the mantra is still to
pursue blindly for more people in the island. Can the policy makers really
believe that this is the only way forward, progress and a better quality of
life?
Ah Pek once told me:
ReplyDelete"These days, people talk about 5-figure salaries.
During our time, we got only 3 figures,
but WE WERE NEVER POOR."
Deletewe only three figures, dual incomes brought hdb 5 rm at 46k.
Car at 20 to 30 k. Every 5 years can change brand new new car after trading in old ones.
At age 55 still got at least 200 to 300k with prevailing minimum sums
Married at age 25/26. Children at 25 or 26 when we are only in the fifties.
Children uni fees afforable by cpf scheme and they fully reimbursed within 5 years.
Born in the 50s and 60s better.
Good Sunday morning rb...think the main problem is our "leaders" don't really believe what they studied in school. If they did...they would have learnt that growth is finite and is constrained by resources and you'll only achieve marginal returns after a certain point. These leaders of ours are all STAR students..so why is it they don't apply what they learn or ....GOD forbid!,, they are also rote learners...pass exams then forget what they studied...hehe
ReplyDeleteThe silly thing is that they are going to sell everything for money when others are just printing them and use them to buy our land, properties and national assets.
ReplyDeletePulau Ubin is likely to be turned into another property havens for the super rich to buy.
Are your lives getting better?
ReplyDeleteYes, with smaller and well designed flats, with well designed small furniture, except the children cannot be shrunk. Quality not compromised.
And yes, no need to own cars, public transport so convenient, so gracious to squeeze with strangers. Just don't take public transport during peak hours which is from 7am to 12 midnight.
Life is definitely getting better.
It's shocking that one has to pay around 900,000 for private leasehold in outlying area for 700 sq feet condo and less off aircon and what have u, net 600 sq FT two bedrooms. Lounge, dining and kitchen all in one room. Room enough just one small bed, one cupboard and small table. It's inhuman to pay so much for so little space.
ReplyDeleteI started work in mid 1970 and by 1979 I was earning 1800. Can afford a car and buy 2000 sq ft condo with my savings in 1985.
ReplyDeleteI just pity my kids so on May 1 I will be there
I started work in mid 1970 and by 1979 I was earning 1800. Can afford a car and buy 2000 sq ft condo with my savings in 1985
ReplyDeleteIn 2013, fresh graduates are still drawing 1800.
I believe landed property, with soil, dog kernel are fundamentally important to the mental well being of citizens.
ReplyDeleteIt also serve as a emergency food sources. Citizen can do urban farming.
I did my calculation. If we don have FT, we are able to provsion every family landed property.
Kuan Yew has destroyed that dream.
Now you know why it should be against the law for any government's central bank to print money using debt as the security.
ReplyDeleteAnd it's not only one cuntry -- all central banks are guilty.
However, some recent good news: commodity prices are now collapsing!
As a Permanent Bear, this is worthy of celebration. Just to think all those ya-ya fuckwits in Sydney and Perth are going to get a nice lesson in finance and economics. Me? I love buying cheap, distressed assets. The more you bleed, the more I turn the knife. I use your pain as "leverage" :-))
Capitalism is a game for mature adults who demonstrate one universal quality: PATIENCE -- the ability to withstand the powerful emotions of short-term gain which lead to acting blindly on IMPULSE. People who are impatient and have the emotional maturity of a child should not play The Game, as their emotions will ALWAYS fuck them up.
When the money printing is wild, interest rates near zero, they become ya-ya speculators and drive up the prices bidding with cheap, abundant, newly-printed money. They become more ya-ya, treating their fellow man like assholes -- demanding this, demanding that.
Then when the crash comes, they cry like little bitches. They have to sell-off, no choice -- it is a "survival" decision. No job, but still have many loans to service. Unemployed and in huge debt -- my kind of "profit maximizing opportunity". Plus they life a lavish lifestyle: expensive house, expensive cars, expensive women/ toy-boys, so they can look down their noses at others, and be maniacally happy, reveling in their "superiority".
Now they are near broke. And scared. And depressed. And HOPELESS.
Bottom-feeders like Matilah come along and screw these fuckers even more, and buy their "in-deep-shit" assets for pennies on the dollar. No one has any sympathy for these ya-yah motherfuckers.
Creative destruction. I love it. Plus the bonus of "Celestial Justice" -- ya-ya people eventually get kicked in their nuts, and they deserve it!
Matilar, ya I can see you leveraging. Current australia women are very expensive with high class excort
ReplyDeleteDemanding 1000 per hour for the golden hole. I bet with commodity crashing the aust $ will crash too and matilar will take full advantage of the situation of these mother fuckers. Knn to matilar, long live matilar!
MS, don't be an ass or pretend to be a smart ass. There were many smart asses that thought buying distress banks during the financial crisis were as smart as an ass like you. The rest is history. Fortunately those smart asses played with other people's money and can still afford to keep their jobs, talk cock and collect big bonuses.
ReplyDeleteYou will lose your underwear if you think you are as smart as them.
Martilar, plus spending money on the excort is not investment hor? It's an expense unless u like to treat the experience as an intangible asset? However under the accounting rules, they have to be marked to market so an old mother fucker like you can hardly turn the experience into an asset?
ReplyDeleteKnn I hope u understand at least half of what I have written
@207:
ReplyDeleteHey, please lah. I've lost money many times in the fantastic capitalist system.
You cannot play this game without getting burned once in awhile. If you want to play, you have to be able to take the good and bad, and not lose your balls or get into negative states when you take a haircut. Similarly, it is not wise to go gila when you've made a nice profit. Emotional extremes lead to very bad judgements.
Bear in mind: It's only money -- just 'dirty paper' -- bullshit words and symbols printed in ink on paper, and deemed "money" by The State. Not the end of the world if you lose some of this worthless shit.
Like I said, if you are cry-baby who's scared of losing -- don't play this game, it is not for you. Go and beg someone for a job. Become a wage slave.
>> You will lose your underwear if you think you are as smart as them.
That's true. But I've been doing this for nearly 30 years, and I'm still standing. BTW, I stay away from banks -- they are too close to the government -- can kena sabo, it's a sucker's game.
@220
ReplyDeleteKnn, consumption is not investment lah.
You want to talk "experience"? Here's the diffeence:
1. Consumption: the experience is "immediate" -- e.g. I just got blow job, I bought new house, new car -- Immediately feel "shiok".
2. Investment: experience is delayed or a negative one -- e.g. Wah the value of my investment is going down! Wah I have to make periodic payments! Wah, nothing is happening....all this in the short term. But in the long term, if you've been careful in selection and a little lucky: WAH! My investment is paying off -- revenue PLUS asset appreciation.
I cannot turn an experience (short time) into an asset (long term revenue generator). But if you can, good luck to you, you will be very rich!
Knn to you.
Matilar, some smart people can turn consumption into intangible assets. Example if you are smart, u can write a book about your experience of screwing the excorts into a book. Many people have done that using their experience like the hard truth book etc. except for u knn, u probably not smart enough like what 2.07 pm stated lor. Knn
ReplyDeleteHmmm, so u see your defition already blown hor, knn u better go get a blowjob lar rather trying to teach people here
ReplyDelete@242:
ReplyDelete>> Example if you are smart,
I'm not. So that's out of the question.
@244:
>> u better go get a blowjob lar rather trying to teach people here
Wah lau. I can see that you have very low standards if you think I am "teaching".
I have no aptitude nor the qualifications to "teach" anyone anything ;-)
Don't be a stupid asshole and display you lack of intelligence here lah. You'll just end up making me look good :-) .. and I don't think I deserve that, hor?
I agree with that someone who mentioned that singapore is a ponzi system. those who get in first will benefit from it. but the problem with ponzi is it will crash and no one know when or how to get out.
ReplyDeleteMatilar, don't be shy lar. By posting here u always try to show how knowledgeable u are though sometimes u did post a few good posts. But most others are rubbish lar except in the sex category which uvare quite good but then this is not the forum for your talent.
ReplyDeleteSo knn don't try to ease out like a worm. Better go get your fix and get your daily blow job lar. Knn to u
@521:
ReplyDelete>> Matilar, don't be shy lar.
Me? Shy?
Hahaha...good joke!
Read this and see how PAP make poor and old contribute GDP for their bonuses.
ReplyDeletehttp://andyxianwong.wordpress.com/2013/04/21/singapore-not-enough-cpf-and-too-much-gdp/
ST Forum 22April
ReplyDelete[PRs can be judges]
Jeanne Kuik (Ms)
Director
Singapore Legal Service
"The Singapore Legal Service is responsible for the appointment of candidates..
.. candidates who are PRs of Singapore may be considered for appointments to the Legal Service,
where the demand for trained personnel is high."
http://www.straitstimes.com/premium/forum-letters/story/prs-can-be-judges-20130422