Singaporeans are the most heavily taxed

last SG · 2007-08-11T00:14:37+00:00

only "about" to choke and laugh? should be better than that lar. It should be laughter at first sentence and it should be " HA HA HA !!" so why are you and...

alwaysdisturbed SG

bubbletea now cost $1.50 per cup. it used to be $1.20. i didn't know gst increase was 25%.

cb. obviously these people take the chance to round off their prices.

Daddy!! SG

Originally posted by maurizio13:

Why not compare with Switzerland, Norway, Sweden or Germany?

If there was ever a mortgage crisis in Singapore and the government doesn't pump in money to support the banks. The whole banking system will crash, because in mortgage crisis, there will be alot of bad loans, all these loans will be written off by the banks, causing heavy losses for banks. This might even initiated a run on the bank, because depositors having received information that the government no longer supports the bank, fear for the recovery of their hard earned savings. If you know nuts, don't even start babbling because it will show your stupidity.

This goes to show the intelligence of the pro PAP supporters, how they have been constantly manipulated, hoodwinked and shod shackled by the ruling elites.

If you don't have any intelligence to think for yourself, you will be constantly fooled by others smarter than you.

Suggest you take an online course in [b]"Economics 101" first before you continue blabbing bollocks.[/b]

M13, you are repeating and rewriting what I wrote about MAS pumping in money if there is a mortgage crisis in Singapore, dude. I really cannot follow what you are trying to say. By saying I am un-intelligent, you are double shooting yourself. what a joke you are.

I repeat what i wrote. Open your eyes widely and read again BELOW. Honestly, do you want me to teach you about what is being written by myself?

Take the sub prime mortgage problem in the US as example, ECB and US Fed Reserve can pump in money as much as they want to rescue the banks. The impact on their currencies Euro and US dollar is almost nothing. If there is a mortgage crisis in Singapore and if MAS were to pump in money, Singapore dollar would most likely crash, during which the country's reserve will need to be used to "defend" its currency. that is why, i guess, the govt of singapore is very focused on accumulating reserve because the country needs it to survive, to support the singapore dollar. if this is a good guess, we can also see that US and Europe are much bigger powers and that they can have choices which include choosing liberal democracy without fears.

Daddy!! SG

Which part of what i wrote that you are disputing? You are writing about the same as I did especially the second line of defence that you wrote, about using the reserve.

selfobliged SG

Our tax IS used for our infrastructire, the upgrading of lifts, etc. and we should be grateful, cause Phillippines need to pay 14% tax and their salary is VERY low. That's the reason why they come here to work. Do you want to be like them?

allentyb SG

Rolling Eyes

Daddy!!, maybe you should just STFU, in this forum, nobody likes a Pro pap supporter, in singapore, we don't own our darn flat, the government will recover it back by 99 years, in america, they OWN their flat,

you are just another smart aleck, thinks that you know something, that we already know, where does the state money comes from? without the citizen, THEY ARE NOTHING, we can always vote for another government to replace them, but if the government piss us any further, you shall see what will happen in the next elections.

it is from our pocket, since we already use our hard earn money to buy a hdb flat (a box) and there is 99 lease on it?

eagle SG

cooked food outside is much cheaper here compared to most other first world countries though....

Which other first world country can you get a decently full meal for <2 euros

selfobliged SG

Where do u think other countries get their money from other their own citizen's? These countries also venture in business too, not only depend on their citizen's money.

walesa SG

Read the part in red. What bollocks are you on about?

Is the Singapore model the only way to safeguard the national currency? So I suppose, given the fact the Federal Reserves and the Bank of England not pursuing the same policy as the MAS would render the USD and the sterling pound to be indefensible should their currency (which are far more susceptible to external influence to begin with) become too volatile?

So am I supposed to extrapolate the regime's brand of spin suggesting liberal democracies and "small powers" are mutually exclusive? Why don't you try explaining the prosperity behind the success of the Swedes, Danes, Norwegians, Finns and the Swiss?

walesa SG

What drivel are you on about? If the ECB and US Fed Reserves can "pump in as much as they want to rescue the banks", yet the "impact on their currencies is almost nothing"? Which economic model have your derived your warped notions from - the Gazelle school of economics?

As a matter of fact, the US, EU and other liberal democracies have greater latitude and leeway to pursue such measures stem very much from the structure of their political system which provides for a financial system and economic model capable of handling and dealing with various financial instruments on a grander scale. This regime, on the other hand, operates on a limited imitation of the models observed in those liberal democracies for this regime knows full well a completely free market economy in the mould of a liberal democracy is incompatible with their brand of fascist tyranny and shameless profiteering which ensures the bulk of state revenues return to the monopolies that generate the bulk of income for this regime.

I don't know how much more shallow you could get with such a silly analogy.

walesa SG

I suppose the picture would be massively different if we considered everything in its overall scheme of things, wouldn't it?

Why not name me one another first world country where the average wages of skilled labour is as derisory as Singapore's?

reddressman SG

but news say people earning more.
I am not earning more. You too?

strange leh.

Still, I regard the news very important.
Without it can you imagine how different singapore would be? Get what I mean? Wink

maurizio13 SG

Modern economies use several methods to prevent bank runs across the whole economy, while still allowing individual institutions to fail. (A system where no bank was ever allowed to fail would cause a moral hazard, and result in poor management of banks).

Deposit insurance systems (such as the Federal Deposit Insurance Corporation in the United States) insure each depositer up to a certain amount, therefore the depositers' savings are protected even if the bank fails. This removes the incentive to withdraw your deposits simply because others are withdrawing theirs. (Note, though, that this only works if consumers trust the insurance system. When the Maryland, US state savings and loan system collapsed in 1985, the underfunded insurance system took more than a year to refund deposits to account-holders at the institutions that failed.)
Central banks act as a lender of last resort. To prevent a bank run, the

Central Bank guarantees that it will make short-term, high-interest loans to banks, to ensure that, if they remain economically viable, they will always have enough liquidity to honour their deposits.

Reserve ratios and Tier 1 capital thresholds both limit the proportion of deposits which a bank can loan out. These methods help ensure that a bank does not have an unsustainably low level of reserves.

According to the World Economic Forum's Global Competitiveness Report, Canada and Australia are tied for the soundest banking systems in the world.

Source: http://en.wikipedia.org/wiki/Bank_run

Defend my @ss lah! If your banking system collapse, all manner of trade will cease to exist. You want to import something, you go to the bank to get letter of credit. Do you think the banks which have become insolvent can issue a letter of credit? Do you think that the exporters from other countries will accept the letter of credit? You go to the bank to borrow money to invest in business, house, car, machinery, etc. The bank will tell you they have no money to loan you. Just imagine life in Singapore without banks, you will get the general idea.

Daddy!! SG

Originally posted by maurizio13:

Modern economies use several methods to prevent bank runs across the whole economy, while still allowing individual institutions to fail. (A system where no bank was ever allowed to fail would cause a moral hazard, and result in poor management of banks).

Deposit insurance systems (such as the Federal Deposit Insurance Corporation in the United States) insure each depositer up to a certain amount, therefore the depositers' savings are protected even if the bank fails. This removes the incentive to withdraw your deposits simply because others are withdrawing theirs. (Note, though, that this only works if consumers trust the insurance system. When the Maryland, US state savings and loan system collapsed in 1985, the underfunded insurance system took more than a year to refund deposits to account-holders at the institutions that failed.)
Central banks act as a lender of last resort. To prevent a bank run, the

[b]Central Bank guarantees that it will make short-term, high-interest loans to banks, to ensure that, if they remain economically viable, they will always have enough liquidity to honour their deposits.

Reserve ratios and Tier 1 capital thresholds both limit the proportion of deposits which a bank can loan out. These methods help ensure that a bank does not have an unsustainably low level of reserves.

According to the World Economic Forum's Global Competitiveness Report, Canada and Australia are tied for the soundest banking systems in the world.

Source: http://en.wikipedia.org/wiki/Bank_run

Defend my @ss lah! If your banking system collapse, all manner of trade will cease to exist. You want to import something, you go to the bank to get letter of credit. Do you think the banks which have become insolvent can issue a letter of credit? Do you think that the exporters from other countries will accept the letter of credit? You go to the bank to borrow money to invest in business, house, car, machinery, etc. The bank will tell you they have no money to loan you. Just imagine life in Singapore without banks, you will get the general idea.[/b]

So after reading through what you wrote, M13, am I right to interpret that you are trying to say that Singapore wont survive or find it very difficult to survive a mortgage crisis?

Daddy!! SG

Originally posted by Daddy!!:

Take the sub prime mortgage problem in the US as example, ECB and US Fed Reserve can pump in money as much as they want to rescue the banks. The impact on their currencies Euro and US dollar is almost nothing. If there is a mortgage crisis in Singapore and if MAS were to pump in money, Singapore dollar would most likely crash, during which the country's reserve will need to be used to "defend" its currency. that is why, i guess, the govt of singapore is very focused on accumulating reserve because the country needs it to survive, to support the singapore dollar.

Originally posted by walesa:

What drivel are you on about? If the ECB and US Fed Reserves can "pump in as much as they want to rescue the banks", yet the "impact on their currencies is almost nothing"? Which economic model have your derived your warped notions from - the Gazelle school of economics?

As a matter of fact, the US, EU and other liberal democracies have greater latitude and leeway to pursue such measures stem very much from the structure of their political system which provides for a financial system and economic model capable of handling and dealing with various financial instruments on a grander scale. This regime, on the other hand, operates on a limited imitation of the models observed in those liberal democracies for this regime knows full well a completely free market economy in the mould of a liberal democracy is incompatible with their brand of fascist tyranny and shameless profiteering which ensures the bulk of state revenues return to the monopolies that generate the bulk of income for this regime.
[/quote]

You know what, walesa, you are a genius.

maurizio13 SG

Hahaha.....

Changing the topic and putting words in my mouth to suit you?!?!

Go read your original post and my reply again, if you still don't understand, go consult your English tuition teacher.

Originally posted by Daddy!!:
perhaps it is the right time to write about a hard fact.

take the sub prime mortgage problem in the US as example, ECB and US Fed Reserve can pump in money as much as they want to rescue the banks. The impact on their currencies Euro and US dollar is almost nothing. [b]If there is a mortgage crisis in Singapore and if MAS were to pump in money, Singapore dollar would most likely crash, during which the country's reserve will need to be used to "defend" its currency. that is why, i guess, the govt of singapore is very focused on accumulating reserve because the country needs it to survive, to support the singapore dollar. if this is a good guess, we can also see that US and Europe are much bigger powers and that they can have choices which include choosing liberal democracy without fears.[/b]

Why not compare with Switzerland, Norway, Sweden or Germany?

If there was ever a mortgage crisis in Singapore and the government doesn't pump in money to support the banks. The whole banking system will crash, because in mortgage crisis, there will be alot of bad loans, all these loans will be written off by the banks, causing heavy losses for banks. This might even initiated a run on the bank, because depositors having received information that the government no longer supports the bank, fear for the recovery of their hard earned savings. If you know nuts, don't even start babbling because it will show your stupidity.

This goes to show the intelligence of the pro PAP supporters, how they have been constantly manipulated, hoodwinked and shod shackled by the ruling elites.

If you don't have any intelligence to think for yourself, you will be constantly fooled by others smarter than you.

Suggest you take an online course in "Economics 101" first before you continue blabbing bollocks.

Daddy!! SG

you know what, M13, you are a genius.

Daddy!! SG

.... .... ....

Daddy!! SG

Take the sub prime mortgage problem in the US as example, ECB and US Fed Reserve can pump in money as much as they want to rescue the banks. The impact on their currencies Euro and US dollar is almost nothing. If there is a mortgage crisis in Singapore and if MAS were to pump in money, Singapore dollar would most likely crash, during which the country’s reserve will need to be used to “defend” its currency. that is why, i guess, the govt of singapore is very focused on accumulating reserve because the country needs it to survive, to support the singapore dollar. if this is a good guess, we can also see that US and Europe are much bigger powers and that they can have choices which include choosing liberal democracy without fears.

maurizio13 SG

Obviously you chose not to understand what I have explained.

IF YOU DON'T PUMP IN MONEY TO SUPPORT THE BANKS, THE BANKS WOULD COLLAPSE DUE TO BAD DEBTS.

ASK YOURSELF. DO YOU WANT TO PUT MONEY IN A BANK WHICH HAS MADE ALOT OF BAD LOANS THAT THEY CAN'T RECOVER AND SUBSEQUENTLY WRITE OFF???

IF THE BANKS BECOME INSOLVENT BECAUSE OF MORTGAGE CRISIS, NOBODY WOULD WANT TO PUT MONEY INSIDE BECAUSE THEY KNOW THEY CAN'T GET BACK THEIR MONEY.

IF THERE ARE NO DEPOSITORS, HOW IS THE BANK GOING TO FUNCTION???

IF THE BANKS CAN'T FUNCTION HOW DOES IMPORT OR EXPORT OCCUR, BECAUSE NOBODY WOULD ACCEPT A LETTER OF CREDIT FROM AN INSOLVENT BANK.

MAYBE YOU CAN EXPLAIN THESE TO ME INSTEAD OF REPEATING YOUR CRAP.

PLEASE RESPOND TO MY POINTS AND STOP POSTING OTHER CRAP.

Daddy!! SG

maurizio13, you are a genius.
Wink Wink Wink

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