All out to defame our governement

last SG · 2007-06-07T10:34:23+00:00

Not in biomed business, but believe such hubs exist in many places besides Australia and Singapore. not interested in disputing what the australians have est...

rane SG

yes, think he is a kid below 21 year old. Read from his posts from AA we will know his age group. Lack of exposure thus look at things from a well!!

rane SG

think you are not objective and ignorant. When did the gahmen listen to us the people of Singapore. Think you are better off playing games and skateboard!! Mr. Green

rane SG

hey, WHINER GAZELLE, WHAT'S your problem?

rane SG

damn shallow!!!

rane SG

Don't think january can accept facts and sense.

maurizio13 SG

Nadah!!! Globalisation brings about income equalisation, it does not lead to greater income gap. There is a difference you know. What you said in an earlier post relates to you all this while, "a little knowledge is a dangerous thing".

Are you stating the obvious, you might as well tell people if you jump from the 20th floor without any safety devices, you will die. You try to add credence to your arguments by adding infantile logic.

How does it bring down inflation? By lowering our wages and increasing the price of necessities (transport, taxes, communications, etc). It might bring about lower inflation, but the purchasing power of Singaporeans has dropped.

citymax SG

wao lao, dun say this man..very bad leh Sad Sad

maurizio13 SG

Going by your argument, the road sweeper in Switzerland, Sweden, Finland and Norway should be making the same as a road sweeper in China or India.

But is this happening?

All your post bears resemblance to one another, globalisation, keep wages low to remain competitive and lower taxes to attract investments. Can you come up with any new arguments, as all these points have been rebutted by me and you did not come up with any conclusive points henceforth.

Actually a more efficient way for you is to start a thread with all these points, then when some opposing post comes up, just point them to the thread. Since you "claim" that you are a doctor, the opportunity cost is high for you to partake in arguments in forums, you should learn to be more efficient, else you will bring down the standard of NHS.

Hehehe

maurizio13 SG

Employers need expertise to move to China, Indonesia and Thailand, you must think that any Tom, Dick and Harry can move to China as and when they like. There are invisible cost involved to, GuanXi (connections with officials), corporation tax of 33%, infrastructure (depending on where you locate your factory, you might have to pay more transport moving it to port), communication, political risk (risk of an overheated economy causing riots or protest), expropriation, etc.

Isn't the NTUC already setting the wage rate in the market? Who decides what is the right wage rate? An independent union fighting for the rights of workers; or a government controlled body fighting for the rights of the worker. I think this government controlled union is only specific to Singapore, apart from the MM & SM issue & the salaries of ministerial appointees.

maurizio13 SG

Another flawed logic.

Let's say in the past, a doctor makes $10,000 while a labourer makes $1,000

With effects of globalisation, doctors get to make $11,000 while a labourer makes $900. So with globalisation the doctor performing the same job has gotten smarter, while the labourer has gone dumber like you. Laughing

Globalisation can only cause an equalisation of wages, not increase the income gap.

You are correct, there is no cure for your stupidity, you should get a lobotomy. Seriously, if I were you I'd wear a doggie (pun intended) bag over my head when I go out.

maurizio13 SG

If what you say is true, we should be getting "Made in China" Rolex, Patek Phillipe, Franck Muller, IWC, Porsche, Ferraris, Boeing and Airbus. Why haven't these products shifted operations to China, India, Indonesia or Thailand? Same logic between OM and the government, because they have been constantly aiming low, not high. Therefore when you aim low, you get lower, when you aim high you get higher. Let's face it, no matter what happens, you cannot compete with China or India in terms of labour cost for the next 15-20 years, China's population is 1.3 billion and the GDP per head is only $1,470 compared to our $24,840.The strategy crafted by the ruling elites and supported by you has the same effect as banging your head against a concrete wall. They say numbers does not win a war, but strategy and valour does. But let's face it, if China's population each spits at OM once, he will be drowning in their spit. Laughing

maurizio13 SG

I suppose all those Indian, Bangladeshi, Chinese, Indonesian, Filipino and Thais that come here are all better educated and more productive than Singaporeans.

Right general correlation between cost of living and salaries! Singapore is the country with a negative correlation between cost of living and salaries; cost of living goes up, but salaries go down.

Irrelevant propaganda to placate the peasants again.

Yay!!! You agree that protectionism will work for us!!!

Laughing

rane SG

OM practises double standard. All the while he is against protectionism, now talk about it!!! ha ha ha, what a good laugh!!!

Fingolfin_Noldor SG

Double Standard? No. He only cares about his pocket. Nothing more. The Amorality may seem surprising, but hey, it's only typical of morons such as him to justify with silly rationales and contradictions just to get what he wants.

And what do we usually label them? Extremists.

Rock^Star SG

Let me paint a scenario to all of you:

Let's assume that Person 1 and Person 2 collectively earn $4,500/mth. (Median household income for 2006)

http://www.singstat.gov.sg/papers/op/op-s12.pdf
Table 2 (pg 5 of 15)

They decide to buy a 4 room flat valued at $280,000. They have $50,000 in their CPF - OA. As they are first time buyers, they shall enjoy the concessionary rate of 2.6% p.a and settle on a loan tenure of 30 years.

CPF Home Affordability Calculator

Housing Loan and Use of CPF for Housing

Based on the inputs and the assumptions adopted, the total payments for your housing loan and other housing payments are estimated to be:

Estimated housing loan is : $ 224,000
Estimated interest on the loan is : $ 98,920

CPF Balances

Based on the inputs and the assumptions adopted, your CPF balances on reaching 55 years old and the CPF Minimum Sum you might be able to set aside are:

------------------------------------------------------------- Person 1 Person 2
Ordinary Account balance : ----------------------- $103,768 $103,768
Special Account balance : -------------------------$81,073 $81,073
CPF Minimum Sum set aside : --------------------$158,100 $158,100
CPF balance (after set aside Minimum Sum) : $26,741 $26,741

Based on the inputs and the assumptions adopted, the Minimum Sum that you might have at 55 and the monthly retirement income that you might receive from age 62 are:

-------------------------------------------------------------------- Person 1 Person 2
Applicable CPF Minimum Sum at 55 : ------------------ $158,100 $158,100
Projected Minimum Sum set aside in cash at 55 : -- $158,100 $158,100
which is equal to (% of applicable Minimum Sum) : 100 % 100 %

Estimated monthly income from 62 : ----------------- $1,249 $1,249
Estimated duration of monthly income (years) : ---------20 20

http://www.cpf.gov.sg/cpf_trans/ssl/financial_model/NewHAC/Home_Afford_calc.asp

The amount of $26,471 is the lump sum that Person 1 and 2 shall each receive once the minimum sum of $158,100 has been set aside at age 55.

Amount of $1,249/mth is the money that Person 1 and 2 shall each receive from age 62 till age 82.

Are the above enough for retirement from year 2039 till 2059?

Fingolfin_Noldor SG

You forgot to factor one thing: Possible forced retirement and depletion of income due to age. At age 40, they practically have nothing left.

Rock^Star SG

Very good point. I did not factor this in so that when criticism pours in, I can bring issues like this up.

Criticism such as "what makes you think pay will stagnate?" You know what I mean......

gevo SG

THIS is the first time I've heard about globalisation bringing about income equalisation.

o.O

Umm. I've posted this question to a certain minister. Anyway, globalisation brings about a rising Gini index. Almost all developed nations have rising Gini coefficients. Internationalisation is unavoidable in this current age as international trade is getting more prevalent. This would ensure more or less an economic success, yet it creates a disjoint society whereby the different socio-economic groups are moving apart.

Since Singapore is never a welfare state, the government cannot really do anything to help them directly. There will be many groups of people who are "left behind", as they do not benefit from the Workfare Income Supplement. These recent GST hikes to help the poor is also not too effective.

Take a look at some of the stats that I've done. It's on page 15 of this topic.

Anyway, if you're interested in what the minister replied, the gist is that globalisation is beneficial to the general state of the nation. Singapore would not retard her growth due to the "incompetent few", those who were left behind. The govt would try to help by reviewing the Workfare scheme every 4 years.

NewAge SG

the minister reply is very harsh and cruel. Judging by this statement i presume that now Singaporeans have to compete with the worlds' workforce. If we are competing with such a huge talent pool and with many handicaps no wonder there will be many "incompetent few"

rane SG

by the way, the manpower minister is hopeless. From his interview, I see that he will not go all the way to service the nation. He is better off go back to SGH and be the surgeon there. Don't think he has got the calibre to be a politician! He made a lousy manpower minister!! Mr. Green He is just wasting taxpayers' $$$.

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