Tuesday, February 26, 2008

Inflation, Inflation, Inflation......

Our inflation rate is now at a 25 year high of 6.6% for January. This rate is among the highest in the world. Malaysia's inflation rate will come in at about 2.5-3%, 3.2% in Hong Kong and CPI figures in US came in at about 4.3%.

Where did the "extra" inflation come from? A large part of "extra" came from HDB's decision to hike prices causing the housing component to rise, the other part came from transport fare hikes and the lingering effects of the 2% GST hike.Some of you might be tempted to blame the govt because most of these hikes were initiated by them or are under their control. This is wrong....judging from the enormous concern shown PAP MPs in yesterday's parliamentary session, the govt has the interest of Singaporeans in their hearts. The govt probably didn't realize that hiking prices and fees can cause inflation. The GST hike was intended to help the poor. The transport hike in the form of ERP increase was intended to smoothen traffic and public transport fare hike was meant to improve service quality. The recent hike in HDB prices was intended to shorten the long queue for flats. See the PAP govt was hiking prices out of concern for Singaporeans to improve their quality of life.
I'm totally shocked by opposition MP Low Thia Kiang's suggestion in parliament to reverse the 2% GST hike. We can see the evil that lurks in the heart of Singapore's opposition, the hypocrisy is obvious as they try to pass themselves champions of the people. Everyone in Singapore knows that the 2% GST hike is meant to help the poor - our PM Lee said so himself. The PAP always match their words with action, that is why they are known as the People's Action Party.


Anonymous said...

No Bread, Let them eat Kueh
- our PM Lee said so himself.

Probably, he's right. Because he can't tell the difference between Mee Siam and Laksa.

Anonymous said...

Strongly support Lucky Tan,
stop blaming the gov but blame your parent for bringing you into this country of oppression where to kill you finanically is really for your own good.

Anonymous said...

Nothing surprising about the figures. What is surprising is why are the MPs suddenly raising all the valid points after the event.

I thought with all the feedback from the meet-the-people sessions they should have been in touch with the ground. What is the purpose of stomping and mixing around and listening to people's views and in the end treat such information as just useless whinning. People have been complaining about food prices and cost of living issues for months before the GST increase, yet they just do as if nothing matters.

I guess they know Singaporeans are forgiving and forgetful after every exercise of so-called sharing the surplus which they squeezed from the people. How sad.

Onlooker said...

Singaporean are fed, up with Progress.
PS all those progress are used up AND everyone should get the famous "Peanut" package as advocated by The Mrs for toilet trained Durex.
Empty promise makes the most noise :)
And Yes We can all see that family ties have improved because of housing issue.sell flat live with parent:)

Millionaire Ministers said...

It doesn't take a mathematician to conclude 'money is never enough' for probably more than half the population - give and take a few depending on spending pattern/inflation/necessary costs imposed/social structures etc . So you can do your accounting and work at the numbers all you want, insufficient means insufficient for those you can't cut it.
The system is devouring and unforgiving. It has to be for it to work. All talk of compassion and inclusiveness is rubbish. Why? Because the price of human compassion has no glory, fame and most importantly...personal fortune!

In a consumption centric society, you end up being an economic cannibal feeding on your weaker fellowmen for your hollow successes.

There is no humanity in such a system! The objective is to hit the millionaire jackpot the quickest. Skew the system if you have to be rich as long as you are not the one ending at the bottom of the heap.

A heap of waste, debilitation, rot, humiliation, sins and death.

And get this.. it is all your fault, never theirs - or at most, a shared responsibility!

agc123 said...

Any increase will end up to double charge to consumer. GST, ERP, tax... For example, say ERP up 50 cents. each consumer will pay 1 cent indirectly, ie 2% enen you don't drive. The comapany concern may get back 1 dollars from consumer. So they gain 50 cents.

joss stick said...

anyone watched parliament last night? classic pap finishing from their woman mp and that was despite all the passionate pleading for more compassionate policies by the other mps.
i tell ya, that lady is on her way up to a multi-million dollar appointment soon.

Anonymous said...

"The govt probably didn't realize that hiking prices and fees can cause inflation."
This gotta be a joke, right? But then the fellow also didn't realize that there are no cockles in mee siam. Maybe his degrees are also bohong ones.

Anonymous said...

The incompetent ministers are overly paid; they can't even get the figures right for the budget. See how 'solid' is their "a sense a proportion"...

the opposition party had demonstrated they had made more accurate economic assessements.....

These so called lacking of 'talent' is just a hoax to pay themselves more.... and not forgetting to brand themselves as 'talents'....

Anonymous said...

You forgot our dear esteemed PM Lee got his Mathematics degree from Cambridge (Just in case, you don't know, Cambridge gives you a free MA degree after you have paid 20 pounds after basic degree).

He's a mathematician, good at predicting and projecting his pay rise with the market flow.

The commoners?
Better learn some maths to try to predict whether you live to 80.

bellyache said...

US inviting well qualified talents .
Those who are good cooks may apply. Americans are hungry and overweight.Also those in the medical fields are in demand.
Singapore torok lah!!!
Be smart. Don't complain. Pack up and leave before the Leesviles do you all in.