6/10/2013
80 year lifespan a threat to retirees
A longer lifespan is conventionally seen as good, as people can now live longer. Not many would want to know that this could be a curse to many in particular those that have ill health with the soul or life being trapped in a rotting and malfunctioning body that costs much more than anything to be alive. But this is only a biological problem.
The other big issue is the social problem. Our whole structure of employment and retirement age are screwed. You can no longer retire people at 55 or 60 or even 70 when they need an income to keep on living. And added to the problem is the art of inflating away huge debt into the future. The savings or pensions of retirees will be eroded at blinding speed that the once enough pension or savings could last so much lesser time. Inflation will reduce their spending power and whatever savings/pensions that were enough would not be enough.
Now I can understand why the smart ones would want a million dollar to keep their good life forever. Those with a few hundred thousands will be caught in the inflationary trap. They would not believe their savings could be expended so rapidly. And that is only confined to normal expenditure without incurring big expenses like medical bills.
With a public housing scheme that is designed to soak up the incomes of buyers under the affordability concept, many will be making just enough to pay for public housing and nothing left for retirement. And no one is seeing this flaw and keeps blaming the people for not saving enough while allowing property prices to rise.
How can anyone save enough when the price of public housing is pegged to what they earned? And to sustain this Ponzi Scheme, the prices must keep going up, which means the need to print more money, leading to unceasing inflation at ever higher rate.
The problems of the oldies will only snowball as the inflation based economy cannot be stopped and the value of money will simply shrink and fritter away. With more oldies joining the ranks of longer lifespan, this is going to be a very critical issue when the number hit the million mark.
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7 comments:
That's why need 6.9 million population lah.
Sure there will be lots of oldies in future, but if you get lots more of younger foreign talents, this will balance up what. And in doing so, the overall population will of course increase lah, that's why 6.9 million is the planning target used by the smart PAP govt.
So protests no use lah, because the inevitable will happen due to too many oldies in future. It's not that the PAP wants it to make Sinkies suffer but because they have to.
And of course it is not politically right for the govt to explain in this way lah, it's only for blog commentators like me.
QUOTE from the just revealed American NSA whistleblower:
"I realised that I was part of something that was doing far more harm than good... The NSA routinely lies in response to Congressional inquiries about scope of surveillance in America. The NSA is intent on making every conversation and every form of behaviour in the world known to them.... What they're doing poses an existential threat to democracy."
RB
Now you know why Singapore has to be De-nationalized.
Loyal citizens are a threat to democracy and a self-serving government.
Source:
http://www.zerohedge.com/news/2013-06-09/nsa-whistleblower-reveals-himself
The Americans have been lying to the whole world for decades. But there are always the eager converts that would believe everything the Americans said, including how poor and evil North Korea is.
All this talk about longer lifespan is a load of shit. Most of my friends and relatives who passed on never reach the ripe young age of 70.
My feeling is that this skewed statistic is for the benefit of fooling Singaporeans, so that the Government can continue to hold on to our CPF minimum sum and medisave for longer and bigger amounts.
If you are planning to live for a long time, you'd better have a tight financial plan.
If you hand over that responsibility to the government, then you deserve the "surprise" you get. Reminder: CPF is not your money, it is a tax. Whatever you "get back" isn't up to you.
Before you get your conspiratorial-the world-is-against-me brain in a mess, consider the data:
Demographics -- population growth and control
Yearbook of Statistics Singapore -- SingStat Data Jul 2012
>> the inflation based economy cannot be stopped and the value of money will simply shrink and fritter away.
It can be stopped. But no one wants to stop it. Because if it stops, people will lose asset values, their jobs and for many - their lives.
Almost everything in the economic system is propped up by debt, and the billions of dollars printed, and the credit created, on that debt.
Don't you find the concept strange: "Debt piggybacked on debt to create credit, which people can then go off and buy bullshit".
But don't worry. The shaky house of cards must come down -- probably just in time for the GE in 206 -- and The Sheeple will be screaming "tolong tolong" and the PAP will use those cries for help from the hopeless to get into power, one more time.
Don't talk cock lah. You know when you are going to die? You can plan to live for a long time?
Eh cheebye, you got understanding Ingriss or not?
I said "If you are PLANNING to live for a long time..."
You gotta have a plan lah, you dumb motherfucker. Oh what? You don't have a plan? Too bad ;-)
I never suggested anything about "succeeding" withe the plan. No one knows how long they'll live or when there're going to meet jesus and suck his cock -- to get into heaven.
However that doesn't mean you don't plan. Especially with finances lah. In today's world, you better have enough money. There's danger and uncertainty, plus some really "suspicious characters of dubious intelligence and/ or integrity" running the world -- governments, social institutions, private enterprises.
If you don't plan for adversity or emergency, then you're setting yourself up to be QUICKLY REMOVED from the human gene pool :-))
I say: good riddance to bad genes!
'Bye for now. Have a nice day. You obviously don't have many left :P
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