Saturday, June 09, 2012

Millionaires who don't feel rich


Singapore,
the third richest country in the world on a per capita basis, 
may be good at accumulating wealth
but it fares less well when it comes to distributing it.
http://thestar.com.my/news/story.asp?file=/2012/6/9/focus/11439831&sec=focus


3 comments:

yujuan said...

"The third richest country in the world?"
Holy cow, every day we have to juggle with the high cost of footing our bills, the high utilities charges, the high annual jacked up property tax that is pegged to the market rental value, the high COE to change an already 10 year motor vehicle, etc., and at the end of the year, there is not much left to feel a millionaire in one of the world's most expensive country.
But there is a way to harness the feeling of being a millionaire -
rent out the family's home, buy another one across the Causeway and move the family over, and of course sell away the Singapore registered car, and commute back to Singapore daily to work.
Being a millionaire is so stressful in Singapore.
Minister Khaw is such a good fortune teller, 2 years ago, he foresaw this situation and advised we should put our parents into old folks home in Johore to save on costs, maybe he's hinting even healthy retirees should skip over too, leaving Singapore to the filthy rich foreign tax refugees to enjoy their wealth.
Being branded a millionaire on a per capita basis is a misfortune here.

Kooli said...

A relative just move his home from Potong Pasir to Ponggol 21. He is a typical 'millionare' by asset.

His son is a NSman. The boy travel to Bukit Timah to serve the country.

In the evening, he return home to eat cup noodle as he can not afford the higher cost of living at Ponggol. He tell me: "NS is suffering."

Anonymous said...

A milionaire is not enough here. You need to be a multi-millionaire. Better still if you are a billionaire. And don't count your property (more so if it is not fully paid up and you have a big loan) because you cannot eat bricks that you don't fully own. If it is a 99-year property, you don't even own it. It's just a lease. People who are taking huge loans to buy properties are working for the govt, property developers and banks. They are equivalent to peasants working on the land while paying their dues. What happens when the global Ponzi scheme collapse under the weight of ever mounting debts?

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