Leong Sze Hian
I refer to the article “Inflation at highest level” (ST, Oct 25).
It states that “Inflation in Singapore rose to its highest level in 20 months last month as housing, transport and food continued to become more expensive”.
25 October was the day of the “triple whammy” in Singapore, with inflation rising by 3.7 per cent to a 20-month high, the number of credit card holders who do not pay their bills in full increased (“More credit card holders not paying their bills in full“, Channel News Asia, Oct 25) and Electronic Road Pricing (ERP) rates up at 23 gantries across Singapore (Channel News Asia, Oct 25).
In August, frequent revolvers accounted for more than one quarter of all credit card holders in Singapore. “Frequent revolvers” are those who pay a portion of their bills and roll over the outstanding balance for at least three consecutive months.
As at August, the increase in the number of new revolvers, at 0.43 per cent over December 2009, was about 20,000.
Bad debts written off by banks for credit and charge cards went up from about $115.4 million in 2008 to $183.9 million last year, a rise of nearly 60% in Singapore which has about 1.2 million credit card holders.
Does this mean that about 300,000 (one quarter of 1.2 million) credit card holders were “frequent revolvers”?
If we count the number of credit card holders who roll over their credit card balances by one or two months, instead of at least three consecutive months, I think we may have achieved another world record – perhaps another world first for Singapore.
As the percentage of delinquents was 4.95 per cent in August, does this mean that about 59,400 credit card holders (4.95% of 1.2 million) did not even pay the minimum monthly payment required on their credit card balances?
With inflation at a 20-month high, it may normally be mitigated by rising wages. But, according to the Ministry of Manpower’s (MOM) latest Labour Market Second Quarter 2010 report, Real Earnings fell by 12 per cent, from the first quarter to the second quarter.
According to an International Monetary Fund (IMF) study of five selected countries in Asia, Singapore had the lowest Real Wage/Earnings from 2008 to the second quarter of this year.
As if this wasn’t bad enough, the number of unemployed residents increased by 33 per cent, from 63,300 in March to 84,400 in June. This is the second consecutive quarterly increase from the last quarter of last year.
Since ERP rates at 11 gantries in the Central Business District (CBD) will also go up by S$1 to S$3 while another nine gantries in the Orchard area will increase by S$1 to S$2, does this mean that the increase in ERP is as much as 300 per cent? Is this a new world record for ERP increase?
With inflation, credit card revolvers, ERP and unemployed residents up, and wages down, what can Singaporeans who may be finding it hard to make ends meet do?
I don’t have the answer, but I would like to help – I have compiled a list of about 100 Free Things in Singapore, such as free food, medical care, haircut, transport, activities, etc. Click here for the listing.
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out of the 30 calender nights..i eat @ home homecook porridge no less than 25 nights/month?
why? beside gettin ole? no money lark..1 lunch outside already cost me a near $8 or so and i am just a adhoc worker..
no oddjob..no money to eat
worst of all..everytime i goes into town to sought for loban..my erp/petrol pay FIRST..let alone parked while you seek
the pap government TAXED me MORE than my nightLEE porridge dinner
~sigh~
Wah lau,your lunch is $8 and you own a car!
That is precisely why PAP has been telling (via the local newspapers and TV programs) S’poreans that they should NOT look to retire.
We have to work till we drop dead!!
Blood sucking PAP Millionaire Milistirs ….. sucking sucking sucking.
U dead yet? suck suck suck … some more.
When MP will say cut our salaries? Too cosy lah nothing will happen what… Have to shake em in their boots. Use your vote wisely.
THANKS Mr Leong!!
Someone very rich and famous died recently but no more estate duty — so timely hor — so got to fill the state coffers ERP dollar by ERP dollar.
Singapore is a Living Hell
with tears, sweat, stress
with madness, cries
with very little HOPE left…
everyday, singaporeans are squeezed like sugar cane juice from the extractor
until you are dried up and useless and thrown away..
BUT singapore is Heaven to people with lots of $$$
everything you want, you can have, if you have $$$
from bungalows to big diamond rings to sex, everything… if you have $$$
in singapore, no $$$ -> HELL
got $$$ -> HEAVEN
well, at least they are increasing the price of ERP but not the bus fare. To be fair anyone who owns a car can be considered slightly well to do, if not i would say sell the car.
PAP: I don’t care!!!
Increase in ERP is to ease traffic. More you pay more people think twice about traveling on this particular road at this particular time. It eases congestion, push people towards public transport resulting in less pollution so actually it is no so bad.
Re:ieatPORRIDGEfordinner: Why did you buy a car if you even cannot afford food? (where is the logic here?). Would you blame the government for your choice?
Pay And Pay. the next election shall be our water-shed
@Sesame Street – Wah lau,your lunch is $8 and you own a car!
Dear Sesame, you find this scenario hard to imagine because you must have never been exposed to the danger of losing your cushy cushy job. Listen to my story. I was earning 6K with 3 months bonus as a manager in an MNC. I have children in school, and mortgages for a car and house. Then I lost my job.
Tell me, does the average person immediately sell his house, car and stop his children’s schooling?? Would he not hope to find a job soon within the next few months and meanwhile try to survive on his saving?
But of course you cannot comprehend because you must have a very cushy job. Or else you are just trolling !!
@David
Agree with your comment, that is such a typical PAP response though they tend to bury it under euphemism and long-winded nonsense.
I think this picture sums it all up for all of us!
[IMG]http://i52.tinypic.com/2hxbrir.jpg[/IMG]
http://tinypic.com/r/2hxbrir/7
Surprise, surprise … why else did you think MAS expand the Singapore Dollar trading band on 14 Oct 2010 out of the electrifying blue???
Hawker centre mee pok:
- in 1960: $0.30
- in 1980: $1.00
- in 2010: $3.50
- in 2040: $____
… your guess is as good as mine, bearing in mind the masses in China, India and Latin American joining the middle class, with global climate change, with Singapore being the fastest ageing population (we will overtake Japan in the coming decades even after the intake of the 2005-2010 deluge of foreign immigrants).
The Pariah
http://www.singaporeenbloc.blogspot.com
i am sure there are genuine hardship cases around, but anecdotal evidence suggests many economically distressed singaporeans are in their current predicaments by virtue of poor financial choices. (hire purchase for furnitures and appliances; cash back car loans etc)
Have you watch the movie “Piranha”. I feel like a victim in that movie.. Eaten up till you’re left with only bones.
UNIQUELY SINGAPORE Political Humour:
SG = Screwed-up Gabra-men (not S’Pore Govt)
BUG = Bloody Useless Govt (not H1N1 flu bug)
MSG = Money-Sucking Govt (not Mono Sodium Glutamate)
ERP = Everyday Rob People
COE = “See Hor Yee” (in Hokkien, Pay And Pay until Die Standing)
GST = “Gasak Sampai Teruk” (in Malay, Pay And Pay until Drop Dead)
PAP = Pay And Pay
PUB = Pay Until Bankrupt
HDB = High Debt Bankrupt (bloody hell, HDB new/resale flats so bloody costly — no thanks to that bloody $2m Minister Mah Bow Tan)
At an Election Rally:
PAP candidate say: Pay And Pay!
WP candidate say : Why Pay??
SDP candidate say: So Don’t Pay !!!
Well written article, Sze Hian. Right now many families are cutting back on non-essentials to offset the increases in expenses for which they have no choice but to pay, like price of food items (both groceries & cooked food), transportation and other necessicities. My concern as a non wage earner is how much can we stretch our small savings when the other government levies also go up. I believe they are waiting to see if there is much fuss over the ERP increases and the inflation figures before they too jump on the bandwagon. The state media will of course downplay the potential impacts to the layman and make sure they print the oft-quoted statement that the last increase was five or ten years ago so there is justification; or that raw materials and energy costs have increased.
And finally to answer your question:
With inflation, credit card revolvers, ERP and unemployed residents up, and wages down, what can Singaporeans who may be finding it hard to make ends meet do?
Join forces with all the rest of the Singaporeans who have had enough to VOTE FOR THE OPPOSITION!
Sesame Street 26 October 2010
Wah lau,your lunch is $8 and you own a car!
……………
Why high ERP is good
Re:ieatPORRIDGEfordinner: Why did you buy a car if you even cannot afford food? (where is the logic here?). Would you blame the government for your choice?
………….
hav you ever ear of karanguni man takin a giant big black bag and take the mrt perhaps?
you think i buy a van for what? to go to changi end to hav blowjob with ahkuas inside the van?
now what logic would you further need?
can our ministers take the mrt with a hugh black bag behind him just liked the hunchbag of notredame?
ONCED!!! i took the mrt/bus from airport terminal 2 to go home with 1 giant alibaba bag…
do you nkow ow many communters was CURSIN @ sworin on me with their EYES!!!
used your brain lark…
by the way..ow much do you xpect to pay for lunch?
kopi free har?
end of the day, whether high erp rate can reap empirical outcome of lesser traffic?
if cannot, it is simply an “up the ante” rent seeking by the gahmen to make up for some “holes” they have burnt.
Dear Mr Leong, Why has your points not been brought up by the Mainstream Media?
Could you please consider contributing the points so that the Mainstream Media can inform the public about these facts?
Please allow them to use your points without crediting you, so that they can claim credit and get famous, otherwise they would rather not publish these facts, and the public will end up not knowing.
I hope to read this in Mainstream Media soon.
I think Mainstream Media will however attempt to find excuses to not run this story. One of the popular excuses is that they cannot substantiate it by getting someone to put their name to this opinion.
are the banks part of govt extention to make S’poreans live a life deep in debt?
remember the toxic investments? how soft the govt approch is?
went in with eyes open…?
Dang!!!! and ieatPORRIDGEfordinner
You’re out of context here…I’m referring to the car and $8 lunch! Mr.Porridge man didn’t state that he owns a van and that he needed it for his livelihood,did he?
As for the $8 lunch,what’s for lunch? Its really a matter of choice,isn’t it?
When you lose your job,having a car is a luxury while schooling for your children and food are necessities.If one is to be judicious,out goes the car 1st,unless your livelihood depends on it.
Sesame Street 27 October 2010
Dang!!!! and ieatPORRIDGEfordinner
You’re out of context here…I’m referring to the car and $8 lunch! Mr.Porridge man didn’t state that he owns a van and that he needed it for his livelihood,did he?
……………..
aha..gotcha…you didnt read the fine print did you?..read again..juzincase you missed it..ere goes…
===========================
i am just a adhoc worker..
no oddjob..no money to eat
worst of all..everytime i goes into town to sought for loban..my erp/petrol pay FIRST..let alone parked while you seek
the pap government TAXED me MORE than my nightLEE porridge dinner
========================
ieatPORRIDGEfordinner,
1.Did you mentioned you own a van in original post?
2.You stated petrol,almost all vans run on diesel.
3.Goes to town to seek “lobang” can means looking for job? going for job interview?…etc, no? How would I know that you’re a karang guni man if you didn’t mention in the original post?
4.Just curious,what you eat for lunch? You mentioned you’re in dire straits but…contradicting leh.
How many ordinary folks eat $8 lunch everyday? seriously…
Sesame Street`
1.Did you mentioned you own a van in original post?
2.You stated petrol,almost all vans run on diesel.
3.Goes to town to seek “lobang” can means looking for job? going for job interview?…etc, no? How would I know that you’re a karang guni man if you didn’t mention in the original post?
4.Just curious,what you eat for lunch? You mentioned you’re in dire straits but…contradicting leh.
How many ordinary folks eat $8 lunch everyday? seriously…
………………
i think you are the prime minister himself..you are too STUPID to comprehend
ere TOC onLEE allowed up to 500 words & you want me to go into details?
1) if pay via erp..did erp stated types of vehicles even if lta knows bout it..did they give us a monthLEE figures?
almost ALL vans run on disel? are you onced AGAIN too STUPID to know that some van do run on PETROL to be envoirment friendLEE
3)go to town to seek for lobang? unless you want to imply i goes to johore road to look for a sshole?(also a lobang what)
4) now my meals must break into details as well? just for NERD liked you…
1 meal 1 drint..ESTIMATE $4.99
mornin/afternoon teabreak no count mey?
why you plunjar har? or do i looked liked leekingyou havin his teabreaks in instana teagarden by the chalet in temasek kris house?
ole since you inquired for details
to visit a shoppin centre jumbuans is NOT free hor…$0.20cents/entry..
ieatPORRIDGEfordinner, 27 October 2010
when you say your lunch is near $8. its only logical that it does not include teabreak. meal + drink at about $4.99 is quite far off the original $8 you stated earlier. your estimation quite wayoff!
now i wonder if your porridge alone is $8 (or $4.99), excluding veggies, meat & soup.
do you happen to occasionally order abalone to go with your porridge?
ieatPORRIDGEfordinner,
wah,you’re indeed a karang guni man from the way you write and argue,no substance at all!
Totally unreasonable and contradicting with your diatribe and innuendoes.I have been meek all along,no more Mr.Nice guy now albeit I won’t stoop so low as to call someone stupid.Btw,500 words is a lot,enough to explain that you’re a karang guni man and own a van in original post but instead,you leave it for our imagination.
1. A car is totally different from a van,it costs more (can’t believe I have to explain this!)If you didn’t tell us you’re a karang guni man and own a van,how would we know in the 1st place? get this straight,will you?
2.I said ALMOST all vans run on diesel,did I? Check dictionary for the word “almost”.
3.Lobang have different meanings,you just said go to town to look for lobang.You didn’t say you’re a karang guni man in the original post,did you? You assume reader know what you do?
4.Now you’re saying your lunch is $4.99,thought you said its nearly $8? Can you make up your mind? Not sure why you involve tea breaks? Your meaning of lunch is lunch+tea break?
No point talking to you lah,I rest my case.
mice is nice,
Obviously Mr.Porridge man is contradicting,right?
ieatPORRIDGEfordinner,
“are you onced AGAIN too STUPID to know that some van do run on PETROL to be envoirment friendLEE”
1 more thing,slipped my mind earlier….
How can petrol be environmentally friendly?
Sesame Street, 27 October 2010
either Mr Porridge is a high class karang guni man or a poser. Cash Converter shops are still around so are those that own large warehouse that stock used hotel furniture & wares. those that own warehouse may have vans, pick-ups & lorries!
karang guni man can say his business is green as he re-sells the discarded stuff so = green. this type of reasoning is like MIW spindoctors, not your average secondary school english.
is election fair? will voting for opp help?
Do we have to wait for statistics before realising the existence of an ever rising inflation ?
Since the beginning of 2010, the pockets of Singaporeans have been hit again and again by the ill considered policies implemented by the self-acclaimed elitist talents leading the ‘Pro Alien Party’.
With the electricity and water rates increased, it was soon followed by increases to bus fares, then came the surprise that MRT felt that it was fairer to themselves that the fares should be “distance based” instead of the old maxim that it is “cheaper to travel further” !!!
Each price increase is justified by the “Pro Alien Party” with a reason that is hard to beat – especially for the cost of fuel that is said to be rising, which necessitate the rise in electrical charges – never mind if the our electrical generating plants are actually powered by liquid-natural gas !!!
The self-acclaimed elitist talents in the “Pro Alien Party” must have taken to heart the advise from their mentor – that Singaporeans are truly ‘DAFT’.
They must be either not Singaporeans themselves – as only Singaporeans are ‘DAFT’; or that they are themselves the truly ‘DAFT’ Singaporeans in believing that Singaporeans are so ‘DAFT’ that we will not remember all these rising costs when General Election will be called in about two months time !!!
In the good days, a 2kg pack of frozen chicken parts(wings/thigh) costed abt $5 to $6. Years ago. when RD kena bird flu, those bloody so-called experts advised exporting countries culling ALL LIVE chicken when kena infected by the virus. Sgans suffer as a result. Price of egg shot up to $4 per 10 eggs. Froz chicken parts shot up to $9 per 2kg pack from previous $6. Mind you all these froz stuffs are imported from S Amercia eg Brazil from factories which are owned by ang moh countries where these so-called experts are based! No bird flu now yet price has not gone down.
is election fair?
>> Morally, no.
will voting for opp help?
>> Yes. Not because Opposition is/may be better, but you send a “strong” message; i.e. if you don’t perform, you’re out.
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