Are you ready for 7 million people on tiny Singapore?

[Irrelevant]

WeiHan:

If you attribute Japan's economic woes back to a monetary policy event, then you are implying aging population has a smaller role or even no role in Japan's present economic stagnation. Why didn't an aging population in Japan cause a wage inflation in Japan without a huge influx of foreign workers?


If you really want to exchange ideas, then it has to be done at a slow pace since I have a full time job and economics isn't really my forte. I think your scenario is too simple to give a definite answer. For example, the government gave everybody $10 millions, does that $10 millions come out of thin air (i.e the government printed them) or it actually come from actual saving from past hardwork? I think it makes a huge difference. Your scenario is too extreme such that it is not realistic also. Is akin asking if your money is still useful when you stray into a island with nobody else other than yourselves.

The way you describe the plaza accord is like asking what is so remarkable about the birth of Genghis Khan. Of course by itself, the birth is not remarkable at all. It is the subsequent events that stamped GK's role in the world history. Similarly, do you have any idea how much the Nikkei index rose? Property in places like Ginza were in excess of USD20,000 per square foot or >SGD30,000 per square foot. The Japanese were complaining that they might need 3 generations to pay off a housing loan. The value of Tokyo was greater than that of the entire state of California. When the collapse came, everyone was in denial. How much money was wasted trying to \"prevent\" or \"smoothen\" the effects of the collapse? By trying to support companies and banks that are insolvent? In that kind of backdrop, an aging population is \"just\" a slow growing time bomb that has not seen the light of the day. Sooner or later, I am sure it will get its chance, just like the 300% of GDP public debt the Japanese are carrying. Do not take my word for it. I am sure there are tonnes of stuff out there on the Japanese bubble.

[pirate]

limlim:

I wondered why there is quota for WP & S Pass, but no quota for EP?


It just doesn't makes sense. There is not enough workers for WP jobs as locals shun it, but there is quota. There is sufficient local skilled workers to meet the demand, yet, there is no quota for EP.

I feel that there should be a quote for EP too for locally employed FT.

However, maybe no restriction for FT sent by the HQ of the MNC to help start the operations here.

Whenever the qualifying criteria for Q1 EP is raised, those originally at the bottom end of Q1 EP will be bumped down to S-Pass, which are subject to quota and sub-quota.

The current criteria for Q1 is min $3,000 a month salary for a young graduate with a good degree, with a higher salary requirement for older applicants. DPM just said in the budget statement that the criteria for Q1 will continue to be increased. Which means more EP holders will be bumped down to S-Pass and subject to quota.

[sleepy]

Is there going to be a new thread for budget 2013?


I'm just wondering the new initiatives about retoring cpf rates, isn't it going to make the older low income group less attractive to hire compared to FWs?
And their net take home pay will be lower too

http://mycpf.cpf.gov.sg/NR/rdonlyres/346C53EF-C2F9-4AF2-A81F-C4F9C2B63943/0/Budget2013CPFconrate.pdf


Regarding the other new initiatives about car ARF, this one I don't quite get it. Heard on news last night may have to pay up to 50% cash for some buyers. Don't understand the Maths. Meaning COE price will drop?

[concern2]

limlim:

I wondered why there is quota for WP & S Pass, but no quota for EP?


It just doesn't makes sense. There is not enough workers for WP jobs as locals shun it, but there is quota. There is sufficient local skilled workers to meet the demand, yet, there is no quota for EP.

I feel that there should be a quote for EP too for locally employed FT.

However, maybe no restriction for FT sent by the HQ of the MNC to help start the operations here.

Interesting point, limlim.

[limlim]

sleepy:

Regarding the other new initiatives about car ARF, this one I don't quite get it. Heard on news last night may have to pay up to 50% cash for some buyers. Don't understand the Maths. Meaning COE price will drop?

Not sure what are the benefits too..

If need to pay 50% cash or lesser loan, it would squeeze out those who can barely afford. By squeezing out competition, wouldn't it effectively reduce the price?

So, end result is, those with lower income cannot afford (not enough cash), the govt doesn't increase revenue as lesser competition = lower bid, the richer gets to pay a lower price, and the number of cars do NOT drop! So, what is the purpose? solely to benefit the rich?

Well, I may have made a mistake in the analysis but can anyone explain what are the \"benefits\" of such a move to the general population?

[Funz]

limlim:

sleepy:

Regarding the other new initiatives about car ARF, this one I don't quite get it. Heard on news last night may have to pay up to 50% cash for some buyers. Don't understand the Maths. Meaning COE price will drop?

Not sure what are the benefits too..

If need to pay 50% cash or lesser loan, it would squeeze out those who can barely afford. By squeezing out competition, wouldn't it effectively reduce the price?

So, end result is, those with lower income cannot afford (not enough cash), the govt doesn't increase revenue as lesser competition = lower bid, the richer gets to pay a lower price, and the number of cars do NOT drop! So, what is the purpose? solely to benefit the rich?

Well, I may have made a mistake in the analysis but can anyone explain what are the \"benefits\" of such a move to the general population?

The rich will be able to buy whatever cars in whatever situation. So whatever policy changes or non changes, they are not affected.

As for the lower income group, a car is usually not something they will be looking at. So again, not too affected.

This will affect those who do not need a car, can hardly afford a car but still go ahead to buy a car. And those who are are looking to get a 2nd car for the household. This will make them think twice.

[Joule]

limlim:

sleepy:

Regarding the other new initiatives about car ARF, this one I don't quite get it. Heard on news last night may have to pay up to 50% cash for some buyers. Don't understand the Maths. Meaning COE price will drop?

Not sure what are the benefits too..


Well, I may have made a mistake in the analysis but can anyone explain what are the \"benefits\" of such a move to the general population?

what I can think of is less people would be able to buy car who are actually not able to afford car

*edited.

last time ah beng who earns 2.5k can because of loan, no down payment and can stretch loan payments to 10 yrs.

now he cannot.



hopefully there will be a drop in COE

but not very sure if it happens = p

also do note that cash rich people will be able to buy cars....two of them too....

[limlim]

The thing is, they make it such that less pple can afford to buy a car now, but the car population never decrease, then, what’s the point???


Why cook up a policy just to allow the rich to be able to buy cheaper cars? (say, COE drop due to reduce competition)

Same number of cars on the road. No increase in revenue…

What for?

[limlim]

Maybe it will be better if they implement the policy with a corresponding decrease in COE issued… at least there is some benefit of a reduce car population.

[Funz]

limlim:

Maybe it will be better if they implement the policy with a corresponding decrease in COE issued.. at least there is some benefit of a reduce car population.

COE issued has been reducing.