Read this article. It explains the pain felt by many unemployed people in America. They are not able to find job, even though they are quite well educated.
Let us reflect on the situation in Singapore. Many of our people can find jobs, but the earnings are not sufficient to pay for the high cost of living. Both couples have to work, just to earn enough for themselves. This is why many families cannot afford to have children. Are we better off than America?
Singapore suffers from the same problem as America - a wide gap in income between the top people (who take away too much) and the rest of the population. Both countries follow similar economic policies,i.e. deregulation and free market, that contributed to this big gap. Both countries appeared to be doing well when the housing prices were inflating.
The housing market in America has burst. The housing market in Singapore is still going strong ... but only for the time being. When our housing market burst, we will suffer the real pain.
We have to build our prosperity on real work and not on financial bubbles and inflated asset prices. We are wasteful due to the false sense of prosperity. We tear down buildings that were built 10 years ago. Many of our educated people waste their years of training to work as property and insurance agents, to earn the high commission. The government and big companies spend astronomical sums for infrastructure, buildings, computer systems and management consultants and levy high taxes and fees to recover these spendings.
To avoid the fate of America, we have to reduce the income gap, cut down on the wasteful expenditure and find ways to control the prices, fees, levies and taxes.
Tan Kin Lian
- ► 2013 (304)
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02/27 - 03/06
- Lehman Brothers Equity-linked Notes
- Real estate funds lost value
- Eggs and nuitrition
- SGEP Editorial
- Looking for a job?
- PAP enters the digital warfare
- Good customer service - online team
- 15 year old speak at SDP rally
- SGEP - mention in international blog
- FIDREC should build up trust
- SCMP: Bank officer charged on mini-bonds
- General election - survey results
- Government to support parenthood
- Shorter working hours - solve unemployment problem...
- Giving back budget surplus to citizens
- Promise of a better future
- High medical cost
- Rejected insurance claims
- This election, your life, your future
- Direct Asia - cheaper premium rate
- Law firm advising a land banking company
- Land banking
- Corruption of middle level leaders
- Taxi service in Singapore
- Astronomical fees
- Traffic woes of Beijing
- General Election Portal
- Health Subsidy for Singapore citizens
- Fee guidelines - the Brunei Times
- This is home, truly
- Dr. Susan Lim's bills
- Financial Planning Talk and Review of Insurance
- Wordle - Get Value from your Life Insurance
- Pressure seal letters
- Talking point - no point talking
- Insuring medical expenses for the elderly
- Financial products that rip-off consumers
- Read SGEP daily
- Allow professional bodies to set fee guidelines
- Paying for old age
- Warren Buffett and home ownership
- Family Life Practice (1m)
- Who is better off?
- Local professors in Singapore
- Vote in the general election
- High medical fees
- At Grave Risk
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