1/06/2014

The careless intent behind a consumption society

The economists will tell you that consumption is good. Spend and churn the economy, grow the economy by conspicuous spending. Borrow and spend, spend and spend, it is good for the GDP. Savings is bad. Do not save, everyone must spend every cent they earn. Prudence in money is not encouraged. So everyone spends, like the Americans, whole country in debt but economy booming, and life is good. The Americans could do that and for now they can still do that by just printing more money. They have extended their good fortune and making the rest of the world working for them, to feed them and let them enjoy a life of plenty and luxury without having to work like other people.

We are also encouraging our people to spend and spend. The talk of being prudent is only lip service. The people who talked about prudence know that prudence, spend within your means, is real and very important to one’s financial well being. Then look at the policies. They are all designed for the people to spend all their money, if not, spend all the money on behalf of the people, to stimulate a vibrant consumption economy. Other than the top 10 or 20 percent income population, the rest of the citizens would be spending every cent they earned and with many money not enough and in debt. Housing, transportation, medical, practically everything has been carefully calibrated to make the people spend everything. Even their life time savings for retirement are already spent or with new schemes to spend them.

As for the top income earners, they have no care about what is happening, about high cost of everything, high inflation. All they need to bother about is to ensure that their income is growing at a rate many times ahead of inflation and rising cost of living. They will also spend. But they only spend perhaps 10 or 20 percent of their income, some even lesser. The rest is saved. They are prudent with their money. They do not spend every cent of their money. They know that is bad. But what is bad for the ordinary people is good for the economy.

So the policies are designed to make sure the people will spend and spend, without any choice. They cannot stop spending as the prices of goods and services will be push up and up to ensure the policies of a consumption society work. The poor are made to spend by compulsory schemes while the rich quietly save.

At the end of the day the average Sinkies will just depart with nothing left on them, just like how they came. For the not so lucky average Sinkies, they will live a life in debt.

28 comments:

  1. News from the MSM was usually prepared by the government as it was own by the government: http://www.tremeritus.com/2014/01/06/getting-harder-for-authority-to-control-news-like-the-old-days/.

    There not much interesting, usually said how good are, what types of credit they claim, what type of achievement they got, it is the same stuff, day in day out eventually people got tired of it?

    What about the negative, they rarely want to dicuss about it?

    The MSM news was so one-sided it rank near the bottom of the world ranking, it wouldn't interview those affected by the over importations of the foreign workers affecting, the new citizens and locals news?

    Now many and more younger voters more interest in the alternatives news in the websites and their comments to balance it?

    They began more and more how low wages workers coming will affect their future and their childrens?

    Surprising these outmoded practice still practice these Today, as Israel, South Korea and Japan had move to advanced status, don't used these long ago? Which the claimed their world class talent and highest paid politician in the world?

    So it is critical those who read the website, read the news share the general public and discuss with the critical issues to those who don't use the internet or don't know how to use the internet,like CPF locked up schemes, importation of cheaper foreigners to replace the new citizens and locals and inflation?

    So that more Singaporean came out, with better ideas for the solutions and discussions of these critical issues that affecting their life and the children future?

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  2. They would not want to write about the serious consequences of too many foreigners here, the fake talents and their qualifications and how adversely they affect the life of Sinkies and their employability.

    They would not tell you how the high cost of living and everything and the forced consumption are going to create hell for the average Sinkies.

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  3. In the 60s Singapore were affected by gambling, gangsterism, drug addiction, prostitutions, earlier Singapore import slave labour they called coolies?

    By persuading more advanced countries to investing SIngapore, slowing Singapore take off, but these advanced countries they come with conditions of low taxes and want low pay workers, and they don't usually bring their most advanced technology to manufacture here, usually their second or third rate innovations and technology?

    After the CHina opened up many factories moved to CHina,a and horrowing out of Singapore?

    Singapore keep building infrastruture to show others how advanced Singapore is but inside mostly now run by cheaper and cheaper foreign workers?

    Whereas other countries like Nordic, Isreal, South Korea and Japan solved their problems by keep improving and innovating or inventing new and better machines, Singapore keep asking for investment, as cost rise foreigners cause move out to a cheaper countries as their second and third rate technology depend very much on cheap labour?

    Singapore need to face their problems and move away from over reliance on foreign inventions and cheap labour?

    As more cheaper, better & faster foreigner came, the brought along their social illness, gambling, drugs, prostitions which is much more rampants now, loan sharks, drunks?

    Those Singaporean affected by the cheaper foreign workers or import, resulting with more divorces, gambling, mental illness, loan shark, lower birthrate, drug addictions, as inflation, suicides keep moving up, as they are unable to complete with the lower cost cheaper foreigners?

    Singapore got to seriously look at the affect of these problem don't let it getting worse?

    Singapore need to move up the technology ladder and constantly find ways to improve it technology and products instead of rely on cheaper foreigners and more importing of foreigners?

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  4. Small and Medium Companies(SME)

    Singapore should keep look out of its SMC and spearhead and foster it grow and development, hope that one of these the day they can be like the Samsung, Ikea, Rolex etc or those small countries?

    We got to find our niches like these small countries?

    Singapore can't continued to rely on the cheaper workers concept which it brought along many social ills, that we had solved or greatly reduced in the 80s and 90s?

    Years of outdated policies causes it deteriorated to these state?

    What type of incentive the Isreal with busiest port, depend entirely on its own people to bring it to the advanced level, Swedish and Danish culture promote these type of innovations, productivity, inventions & Design, we should learn and copy them and develop our own systems further? Or bring the right experts to develop the incentives?

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  5. You forgot to mention about diseases. With the crowded trains, the viruses and bugs, fleas, tics, bed bugs and what not spread very easily.

    Just wait for a health epidemic to hit.

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  6. 'Singapore should keep look out of its SMC and spearhead and foster it grow and development, hope that one of these the day they can be like the Samsung, Ikea, Rolex etc or those small countries?'

    They almost killed Creative Technology and until today they are not putting any money there to help it grow but threw money all over the world and saw the money disappearing.

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  7. sorry that we are now in this state ......

    in this cruel world, we have to live within our means........

    future is one thing that we cannot be 100% sure, like your employment, health, etc..........

    we must be debt-free or at least debt-low to survive on this tiny island.........

    never never never follow the crowds in chasing after properties and big ticket items.....

    beware! beware! of the many debt traps out there with easy loans........

    remember....simple living is the only way forward......

    but now....enjoy the festive seasons .......cheers..........

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  8. In the long lost past of hard currencies, it made sense to live within your means -- spend some, and save some of what you earned.

    However now we live in a world where DEBT has become the "security" we base the value of our currencies on -- i.e. we can simply "print" up whatever money the cuntree requires.

    One must realise that the world's reserve currency -- the USD -- is based on debt. The US will print as much as it and the rest of the world needs and in so doing "exports" its inflation to other every cuntree, since sooner or later everyone has to use US dollars.

    Money, a medium of exchange, like all other "things" has a price -- i.e. you can buy money by exchanging goods and services. Not so long ago $200 "cost" 1 troy ounce of GOLD. Now the price of money has "dropped" nearly 6 or 7 times. 1 oz of gold costs around $1200, ie you can buy more 6 times money with the same amount of gold.

    When money is "cheap" it is so because it is in abundance, and thus the natural incentive is to SPEND it.

    When money is in abundance, it also makes it CHEAP to BORROW. Around the world money costs an average of 1-3%, thus people are motivated to borrow and spend.

    Singapore Example -- it makes sense to be in debt...

    To illustrate how crazy upside down the situation is, take a typical Singapore example.

    Say in 2000, at the bottom of the market you bought a landed property in Bk Timah for $2 million. (Semi D at the time was around 750k, people thought the world was coming to an end) By now in 2014, your house is worth around 8 million.

    So you go to the bank. Bank will lend you 4 million at 1%, no problem. You take 1 million, buy a nice new car and have a good old time spoiling your horny dick with a variety of sexual partners... you still have 3 million, which you can "leverage" to buy 2 or 3 more properties to "rent out" such that the rental income services the mortgages and gives you a little bit left over "income".

    In a few years, the mortgages are paid off, and you can use the properties as collateral to borrow even more "cheap money" to finance your "Singapore Lifestyle".

    The above example uses a relatively "modest" landed bungalow. Extend the example to a 15,000 sq ft property ought circa early 2000's in districts 9, 10 or 11 for say 10 million, now worth 30 million or more. The bank will lend 15 million at 1%. You are fucking King lah!! YOU CAN BUY 1 x Ferrari, 1 x Lamborghini, 1 x Bentley..., have wild sex..even belanja your friends to have wild sex...and still have enough money to make more money.

    FACT: There are THOUSANDS of Singaporeans who are doing this. At 1% interest, it makes sense to BORROW AND CONSUME or speculate.

    In the current Singapore context, where 1 in 5 is a MILLIONAIRE, it makes PERFECT SENSE to be in DEBT.

    If you are poor, to be in debt is to suffer -- you will get poorer. If you are rich, to be in well-managed debt is to become RICHER.

    Happy New Year, Huat Ah!

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  9. Singapore must continue to innovate and stay above the competition, not to continue to rely only cheaper, better and faster foreigners, which brought along so many social illness of our PMET and their children’s future and continue to pay themselves the highest pay in the world?

    As 4 minister warned that their children might not been able to complete with foreigners coming when they graduates? As they know more and more foreigners taking over local graduate or PMET jobs and depressed their pay?

    We had at least $300 billions of reserves, these can incentivise our local SME to innovation, breaking into foreign markets and expand, continue to give incentives to locals to innovate, increase the productivies and efficiency?

    Singapore had accumulated so many reserves from the COE, GST, ERP, Levies and other forms of indirect taxes?

    Now Singapore is better then the 60s when we just started off. We got so many reserves to build up our local capabilities and empowering them, old outmoded ideas got to be discard, which brought in so many social ill?

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  10. The ministers got to volunteering reduce the pay, so that not to burden too much the business, as the got to rely on cheaper foreign workers?

    They should volunteering reduce it to that level of the Swiss, Nordic and New Zealand minister, as most of these countries had a few millions populations?

    Those Levies, COE, GST, ERP and other form of indirect taxes are a heavy burden to business cost, which keep rising? If they ministers pay themselves less and compatible to those advanced countries, so they don't need to increase all these indirect taxes?

    As these indirect taxes and business cost lower which form the great part of the ministers salaries, business can afford to employ more local?

    Should broadcast only the good stuff, what ahead is more important?

    More suggestions, incentives and awards from the public who give good ideas and suggestions and around the world, on how to transform SIngapore to a innovative ecomomy like the Nordic, Israel and South Korea? Singapore do well to attract a huge amount of tourist, now Singapore with it massive reserves need to incentivises the local SME to bring Singapore to the next level like the Swedish and Danish or the Swiss? With SIngapore staggering more then $300 billions of reserves?

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  11. Greed is good.
    Gordon Gekko

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  12. Many of the MP so tired they slept during the parliament, and it is their part time job of $16K per month job, how they go to help to develop the economy and not to find the easiy way out?

    They are too busy with their main job and hardly had time and often absent from the parliamentary proceeding?

    That why a multi parties parliament is crucial to Singapore survival?

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  13. Tanjong Pagar SMC, with six consecutive elections the people don't to votes, is it funny which we called democracy, which suppose to vote?

    Most in the forties or fifties year of life had never vote before and can call a democracy?

    Most of them rely on the old man high votes as years ago he got 80 over percents of votes in SMC and nobody dare to compete in Tanjong Pagar?

    The next time old man died let it split into SMC, so that they can have their own backbone and rely on themselves to go into the parliament, not by going into the backdoor, if they can' go in from the front door?

    Many countries had different races, don't keep giving excuses, they don't form a GRC to votes? So the best MP can forward develop, they can do a full time to help the populations, as the population staggered with more problems due the importation of middle age foreigners become old?

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  14. The debt game can only be played by the rich to get richer. For the poor, the more debt they get into the deeper they sink.

    Talking about innovation and creativity, Sin's only creativity is the inflation game centred on property. Remove the property element, you can imagine what kind of economy it will become.

    Oh, the second innovation if population explosion. While they keep harping about low fertility rate, the truth is that we have had a population explosion in the last decade of so.

    Both games are deadly and once started cannot slow down as slowing will be worse for the rich and poor. On other hand continue down this path is only good for the rich but equally bad for the poor.

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  15. Please convert the Tanjong Pagar GRC back to SMC, let those MP able hold their head high and fight on their on 2 feet, now they dare not face people after some many walkover, standing behind the old man?

    All these MP don't hope to disgrace their family, kept hiding behind the old man back?

    They need the self dignity to stand on their own and go through the SMC as the old man could died soon or later?

    Please don't let Singapore the bulk of the jokes of the world with so many Singaporean in the 40s and 50s in Tanjong Pagar GRC never vote before in a first world democracy?

    The paper general might have the chance to prove himself? If he in a GRC nobody know if come from the back door or the front door?

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  16. The debt ridden youth will be in trouble if more and more foreigner came to replaced them?

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  17. The recent Punggol East herald a new era of Singapore political scene?

    The important of Oppositions in check and balances to the excess of the main party?

    If more opposition parties were vote in they will reduce the cost of the government the ministers' salaries to reduce to tally to that of the Nordic ministers' salaries, less indirect taxes need like the CPF locked up schemes for like , COE, GST ERP, Levies and other indirect taxes and foreigners need to import to support their world most expensive salaries?

    The multi parties system of Nordic, Swiss brought great success of the people of their countries, as talent people can contribute from difference route and debate it out in the parliament, they reach a maturity of the democratic systems?

    They can't give too many excuses or else they will be vote out or automatically resign themselves for the good of the people?

    They can't import too many foreigners to take away the jobs of the New CItizens and the local jobs and their children jobs or depress their pay?

    As an insurance against one main party, in case the main party fail, the PM had cancer before, nobody know it will comeback later?

    In a multi-parties, more questions or tougher questions were asked?
    Because more parties and more brain contribute and throughly debate before came to parliament?

    Free educations to improve their capabilties, job lost benefits & old age benefits? In the Nordic which don't have hidden taxes or indirect taxes? The income is clean and not corrupted in today internet ages in the Nordic?

    All the MP got to be on their toe everytime? They can't afford part time MP?

    In future MP should not have too many appointments, if they can't have time hope they resign on their own and give opposition parties chance to serve the people with their heart?

    If they frequently absent how they going to serve the people, they should not sleep in the Parliament , if too tired from their full time jobs they should rest at home, a pay of 16k per month is a high end job? Not many Singaporean got these type of pay because heavy influx of cheap foreigners and their cheap standard of living?

    Many Singaporean because pay depress by foreign worker got difficulties getting a $2K job?

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  18. Compare the low wage Singapore and the low wages Nordic: http://leongszehian.com/?p=7206

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  19. With 40 percents of the votes supposed to be around 35 seats go to oppositions, why only 7 oppositions MP in the Parliament, to ask tough questions, how the 7 MP adequately perform the Opposition roles?

    The rest of the 28 MP might have came through the backdoor like the Tin Tin Tin, and possibly the tooth pick saleman and also called the Zoro king? As the Tanjong Pajar have a staggering 6 consecutive walkovers?

    Mean many might have came through the back doors, because they can't came through the front doors?

    If they came through the back door can they adequately help the common people or help themselves?

    Give those spineless MP back their spined and ask them to stand in SMC and revert it back to SMC, so they can held the head high and face the people and Singaporean head high?

    Please don't let them always hide behind somebody, going through the back doors and disgrace Singaporean, and please don't make Singaporean the laughing stocks of the world ?

    MP don't need to be elected become MP and vote, which they continue to walk over for the 6 consecutive time and called ourselves the first world democracy? Please don't disgrace democracy?

    Let in more oppositions, if Singapore will continue to cover its weakness one of these days Singapore will sink?

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  20. With 28 less MP from the Oppositions coming in the Ministers can kept themselves busy by counting their own money? And less 28 MP to ask them tough questions?

    These 28 MP who likely came in from the back door, got better to keep quiet, because of their obedience they time can go promoted to the Chairman like the Heng Heng Heng, if not next time they could be shown the door? Every month can got to the ATM collect their pay happily? And vote for the White Paper, the more obedience they higher their chance of promoting to the Chairman of GLC?

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  21. In an uncaring, unequal society with the widest income gap on the surface of this planet, loan sharks are circling the island.

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  22. Besides lawyers, economists are the second group of big liars. These people made monies by selling unsupported theories aka bullshits. They promote greed whenever they talked and Greed is what that killed Jesus and will be killing everyone on this planet.

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  23. "Greed is good."

    - do not confuse greed with need. wanting some necessary is a need not greed. greed is wanting something beyond necessary and in the process will deny someone from having something necessary e.g living in a 300m2 house when a 100m2 house is sufficient, having 5 cars when 1 car is sufficient etc.

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  24. What is the characteristic of the freeloading MP came through the back doors?

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  25. How does a million dollar salary for a PAP politician benefit Singaporeans?

    How does voting PAP benefit Singaporeans?

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  26. Dun worry, sia will soon be offering discounted tickets for traveling on a380...

    knnccb.... will Hairball loong be visiting those passengers too?

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  27. http://www.thefreedictionary.com/freeloader

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  28. If there is no GRC systems, many of the MP can't came in by the back door?

    If got GRC 28 MP could came in the back door, it is likely those who can't come by the back door got to come in by the front doors?

    All together 40 pc of the votes equal to 35 seats?

    The ministers can't keep themselves busy counting money, but got to crack the head answering the questions of 28 more oppositions MP? Which usually tough one?

    When Sylvia Lim asked them why they need such high pay they got difficulties in answering the questions not able to answer the question properly?

    If unlucky most of the cabinet ministers could be gone if too many GRC gone to the oppositions? Like Aljunied GRC with 3 minsters gone?

    So is it safer to revert back to SMC?

    The NOrdic run their countries very well with much lower salaries?

    It is unlikely the approval of CPF locked up schemes for life?

    It will be unlikely the massive influx of foreigners to depress pay or take away the new citizens jobs, the locals and their children jobs?

    Which their plan of 69 is not likely to be approved by the parliaments?

    The inflation rate is not likely to be so high and keep increasing?

    These are the likely scenario if 28 of the seats are from the oppositions, if there is all SMC, not GRC?

    With all SMC people is likely to know who can perform who can't perform? Don't keep giving excuses need different race to take care of different races?

    If he can't take care of other race how can he be MP? Many countries with different races don't have GRC are successful?

    The racial problems is likely due to the 60s many are not educated, now many are well educated and has the internet? Is the thinking is outdated?

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