The way things are increasing in price in Red Dot is
quite astounding. I am a retiree and there is pressure for me, as cost
of living is rising really fast. But since HDB flats are said to be also
affordable, what can I say?
A loaf of bread just went up by 20
cents from S$2.30 to S$2.50. This is not the first increase. It is
another 10% increase. Inflation is said to be just around 4.5%, believe
it or not? S$2.50 is still affordable they will tell us. Another 1% GST
increase is coming and God knows what will be the result for us
grassroot poor. A cup of kopi-O now cost S$1.30. It is atrocious. But if
you complain they will scoff at you and denigrate you, saying if you
cannot afford it, don't drink. This is the reality in Red Dot today. Of
course there are places to find cheaper kopi-O, but transport is not
free and it becomes penny wise pound foolish 'tua gong' to follow the
good advice.
Just read about all the complaints being aired on
social media, mostly about food prices that are now on another planet.
Just a day or two ago, there was even a complaint about a haircut
costing S$20, when the display on the shop front was clearly advertising
a haircut for S$10. The customer really suffered a rude shock when
asked to pay S$20, after it was revealed that the S$10 haircut was only
for members, but never highlighted. Some commented that the customer
should have asked the price first. Why is there a need to ask when the
S$10 haircut offer was displayed right outside the shop? This is now
the reality in Red Dot as well. Customers beware or buyers beware has
now been taken to a whole new level. Forget about the prices displayed.
Anonymous
7 comments:
What about the $billions lost by Singapore's sovereign wealth fund, why nobody sacked? - Temasek posted a $7.3 billion net loss for the 2023 financial year
(Bloomberg) -- Singapore has sufficient financial reserves for most circumstances, though it would be the “biggest misconception” to think that will always be the case, Prime Minister Lee Hsien Loong said.
The city-state’s spending needs are already outpacing revenue growth, Lee told CNA in an interview published Wednesday. He didn’t disclose the size of the reserves.
“I’m anxious that we keep it like this for as long as we can,” Lee said. “Because it’s one of those things – once it’s gone, it will never come back again.”
Allocating 2% to 3% of Singapore’s gross domestic product to build a sovereign fund from zero would be “very hard,” he said. “The economy will not be able to take it.”
PAP leader decried spending needs outpacing revenue growth; cut C-class health subsidies for Singaporeans. Yet the Singapore sovereign wealth funds are losing billions of dollars via poor investment decisions by highly-paid un-sackable executives.
Frankly all these socalled Sovereign Funds are just blood sucking legalised LOAN SHARKS that preyed on those poor underdeveloped and still been manipulated and colonised countries especially the Western barbarians.
Those who are in and having lucrative returns are accomplices with blood on their hands in enjoying their luxurious lifes.
That's why they have only a tiny one percent that able to go to the Western skies.
Majority 99% are condemned to HELL.
Human beans you slaughtered me and I slaughtered you.
Each wanting to have a bigger chunk for themselves.
You die your business as you are deemed useless.
Temasek lost $7.3b, MAS lost $30.8b, FTX investment lost $247m.
The fund managers were held accountable and had salary cut. Not sure how much. $10 is also salary cut. Hope the cut is meaningful as these professionals are working on a high reward scheme for successes and thus must also be held accountable and have to pay back substantially for big losses. Otherwise it would just be a scam. Gamble as much as they want, make profits, take be bonuses. If lost, $10 pay cut.
The people in MAS are also professionals hired and paid handsomely to protect Singapore's reserves. Losing $30.8b is no small matter. Any action taken for accountability? Likewise the $7.3n losses inn Temasek. Anyone hear anything about accountability? Anyone thinks it important enough to raise in Parliament?
Not important, with a big hole burnt in our national reserves? Anyone watching our national reserves, keeping an eye on our national reserves?
Would the EP candidate ask such questions? So far none has said anything about these losses and they are telling the people they want to be custodians to our national reserves.
Million dollar salaries come with with big responsibility. Making huge losses must he held responsible and accountable. How come no one got sack losing billions of our reserves?
The reality is when you are gambling with other people's money, why worry about the risk. If fund managers make money dealing in risky investments, big bonuses await them. It is so enticing taking those risk for those high bonuses.
If they lose big, well, there is the employment contract of millions in compensation to fall back on, even if the fund were to lose billions and they are asked to pack off. And if they are not fully accountable, they are given a slap on the wrist and maybe take a S$10 pay cut. Either way it is a win win situation for them.
Ownself check ownself. Ownself accountable to ownself. Who needs to be responsible?
Would the EP ask the question of who should be accountable for losses? Even asking how much is in the reserves is liable to be unseated. Moreover, why do such a thing instead of just collecting the millions and spend the time comfortably in the istana counting the money. Some already collected so much within a term, by winning through default, and do not need another term.
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