The Govt’s policy of having small increases every now and then is working quite well so far. It is easier to boil a frog that way without creating any alarm.
What about small cuts every now and then instead of a big and painful cut at one go? No, no, I am not talking about salary cut. That one cannot cut under whatever circumstances. The consequences are much more serious and severe.
I did write about minus one zero from our dollar notes. Indonesia has decided to minus 3 zeros from the rupiah notes. It is high time that we start to cut one zero from our dollar notes. We must not wait too long and have to cut 3 zeros at one go.
Small cuts are less painful and more palatable. The only thing is that people no longer can call themselves millionaires by owning a HDB flat. The Indonesians must be tired of being billionaires for too long. Our millionaires could turn nasty soon when they have to make ends meet as their HDB flats and savings in the CPF are untouchable and really not worth that much.
We are a country with the most millionaires but with many living from hands to mouth while smiling at their CPF statements. Come to think of it, better not to cut the one zero. It is good to believe one is a millionaire.
Yesterday's millionaires drove big Mercedes and stayed in big landed properties and live a different lifestyle.
12/09/2011
When is George Yeo going to be appointed Chairman?
The affable George Yeo, the intellectual of the PAP, is quitting politics for good with his stepping down as advisor to the Aljunid GRC. Though he is still very comfortable financially, and has a life long million dollar pension, it will be a waste of his talent if he is not appointed to some of the big jobs when talent is so short here.
Many yodas have been recycled year after year and holding many chairmanship positions. Some even being recalled regularly when the lack of talent younger generation CEOs were found hopeless in crisis management. George’s experience should come in very handy especially when he is still a young man.
When is George Yeo going to be appointed as Chairman of some GLC or Temasek companies?
Many yodas have been recycled year after year and holding many chairmanship positions. Some even being recalled regularly when the lack of talent younger generation CEOs were found hopeless in crisis management. George’s experience should come in very handy especially when he is still a young man.
When is George Yeo going to be appointed as Chairman of some GLC or Temasek companies?
We also contribute to your economy….
Might as well say we are here to help you Singaporeans. Without us foreign talents, Singapore will go down to the third world. Then I will say, good, then you will wait for us at your door, in your third world, to welcome us.
We have heard some foreigners are unhappy with the property curbs. And they are claiming credit to help our economy and demanding that they should be treated favourably. Now where did these foreigners got this silly idea from, that they are here to help us and we owe them a living?
Did they not forget that it is here that they have the best opportunity to earn a decent living, some even making it rich, and being very well treated? They should be kneeling down on both knees and say thank you to the Sin govt. The average Singaporeans are not too keen for their presence and would want to get rid of them soonest possible. If they can find a better place elsewhere, or can do better elsewhere, would they be here?
Time to dispel this silly myth that the foreigners are here to help us and Sinkies have to go down on their knees to serve them, yes masters! Our apologies that you are disappointed with us. Please go somewhere that you don't have to be disappointed. Maybe can go home first, where you won't be disappointed.
We have heard some foreigners are unhappy with the property curbs. And they are claiming credit to help our economy and demanding that they should be treated favourably. Now where did these foreigners got this silly idea from, that they are here to help us and we owe them a living?
Did they not forget that it is here that they have the best opportunity to earn a decent living, some even making it rich, and being very well treated? They should be kneeling down on both knees and say thank you to the Sin govt. The average Singaporeans are not too keen for their presence and would want to get rid of them soonest possible. If they can find a better place elsewhere, or can do better elsewhere, would they be here?
Time to dispel this silly myth that the foreigners are here to help us and Sinkies have to go down on their knees to serve them, yes masters! Our apologies that you are disappointed with us. Please go somewhere that you don't have to be disappointed. Maybe can go home first, where you won't be disappointed.
A right policy will be well accepted
Has the govt came out with any policy recently that is tough but willingly accepted by all parties, including those that were targeted by the policy? The latest curb on property speculation is one of those rare policies that can be classified as tough and good. The affected parties, particularly the foreign speculators knew that the game is up. They have no rights to complain, neither do they have the right to speculate properties at the expense of the citizens. That is another story of a flawed policy.
The developers quietly resigned to the fact that it has to come. Anyway they have built in all the profit margin and the only thing that would affect them is lesser profit. They are not going to lose money or any sleep. They had a good time over the last 10 years with very good profit. So it is time for a break and a deserving holiday.
Local speculators may grumble a little but they would find other places to speculate and make money with their money. Some interest and money may go back to shore up a dying stock market.
For Singaporeans who are genuine buyers of a home, the relief is welcomed though a bit late. Better late than never. But more needs to be done to protect them from paying a ransom for a home that they need simply to live.
As for the rest of the Singaporeans, the only thing that may matter is that the paper gain from their properties will slide down a little, but of no significance. And some may change tack and instead of property prices are affordable, they may claim that property prices are cheap. Both positions are simply silly as the base has changed.
Property prices are still far too high for living and still not affordable to many. It is only cheap for the speculators. The illusion of wealth of living in a $1m flat is just an illusion. When the flat costs $30k, $300k or $1m, if it is the only asset to live in, it is better to be cheaper than more expensive. And don’t have to worry about paying higher property tax that is based on rental income that is irrelevant to the ordinary citizens.
There is a need for more pro people policies and policies that would not draw curses at the policy makers. This is one such policy that no one will curse at Boon Wan other than a few late speculators.
The developers quietly resigned to the fact that it has to come. Anyway they have built in all the profit margin and the only thing that would affect them is lesser profit. They are not going to lose money or any sleep. They had a good time over the last 10 years with very good profit. So it is time for a break and a deserving holiday.
Local speculators may grumble a little but they would find other places to speculate and make money with their money. Some interest and money may go back to shore up a dying stock market.
For Singaporeans who are genuine buyers of a home, the relief is welcomed though a bit late. Better late than never. But more needs to be done to protect them from paying a ransom for a home that they need simply to live.
As for the rest of the Singaporeans, the only thing that may matter is that the paper gain from their properties will slide down a little, but of no significance. And some may change tack and instead of property prices are affordable, they may claim that property prices are cheap. Both positions are simply silly as the base has changed.
Property prices are still far too high for living and still not affordable to many. It is only cheap for the speculators. The illusion of wealth of living in a $1m flat is just an illusion. When the flat costs $30k, $300k or $1m, if it is the only asset to live in, it is better to be cheaper than more expensive. And don’t have to worry about paying higher property tax that is based on rental income that is irrelevant to the ordinary citizens.
There is a need for more pro people policies and policies that would not draw curses at the policy makers. This is one such policy that no one will curse at Boon Wan other than a few late speculators.
12/08/2011
Getting to be more like Malaysia
Several years back there was a property boom in Johore. The developers built and built, huge estates of landed properties for sale at a fraction of the price in Singapore. See also salivate. Many Singaporeans went in to buy and buy. Then the citizens complained. Singaporeans buying up everything and pushing up the cost of living.
Suddenly new regulations came out on ownership and stamp duties. The property boom collapsed as Singaporeans could not buy anymore. Property developers also went kaput.
Familiar story that is being repeated here. Why let the situation gets so bad before doing something drastic?
Suddenly new regulations came out on ownership and stamp duties. The property boom collapsed as Singaporeans could not buy anymore. Property developers also went kaput.
Familiar story that is being repeated here. Why let the situation gets so bad before doing something drastic?
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