Good analysis of Prof Lim's shock therapy against miw's workfare....

[Char_Azn]

of course no problem seeing the price go up because own salary also go up . own salary go up spending power also go up ...and when spending power goes up all company sales also go up , everyone benefit ....its like a cycle . even i never study also know ...why cant you ?

1)The proposal is targeted at the bottom 10-20%, so the cost of living for everyone else goes up

2)The bottom 10-20% see wages going up however due to their own wages going up the cost of living goes up hence will cancel off quite a bit of whatever they gain

3)On your reply to Sam regarding SME. Yes SME probably cannot afford to move out however the bulk of our economy are built around MNCs

 

[drifter]

1)The proposal is targeted at the bottom 10-20%, so the cost of living for everyone else goes up

2)The bottom 10-20% see wages going up however due to their own wages going up the cost of living goes up hence will cancel off quite a bit of whatever they gain

3)On your reply to Sam regarding SME. Yes SME probably cannot afford to move out however the bulk of our economy are built around MNCs

point 1 and 2 make sense ...but for point 3 i think its unfair to SME if the goverment just focus on MNCs . should SME be left behind ?

 

[groober2011]

All that happens with service industries which aren't mobile is that their costs rise and this is passed on to the consumer.

In NZ, I pay $4 for a cup of coffee which would cost only $1 in Singapore.

The net result is that the cost of living goes up for everyone and those on the minimum wage end up no better off. Their salaries may have gone up but everything they buy has gone up too so the net gain is zilch.

Each minimum wage increase in NZ has resulted in more factory closures. Fisher and Paykel used to employ thousands in NZ. They have since shifted all their mass production overseas. NZ is worse off as a result.

How much did your car cost you? There is a vast difference between NZ and a City State. NZ is the antithesis of Singapore, nothing about that country is similar.

 

[makapaaa]

Sorry drifter, I'm not with you on this. One common denominator for the third world countries is corruption. The majority of wealth are controlled by the corrupted few. That is not free market principle.

Sounds familee...

 

[Cruxx]

So I'm assuming everyone in here have no problems seeing prices goes up when the businesses pass on the increase cost of operations to the consumers

If Sinkies were as selfish and enlightened as me, they would have fucked the fascists and boycotted their products and services. What you gonna do when demand is even more elastic than your cheap-labour supply? What you gonna do when people ride on bicycles to work or carpool instead of getting up at 6 so that they have enough time on their way to work to be trapped in a train? Only losers allow businesses to blackmail them.

 

[Cruxx]

How much did your car cost you? There is a vast difference between NZ and a City State. NZ is the antithesis of Singapore, nothing about that country is similar.

Both are populated with sheep.

 

[zhihau]

when the businesses pass on the increase cost of operations to the consumers

me thought folks could always make an informed choice and select the best bargains. that's why me say: down with monopoly

 

[zhihau]

Both are populated with sheep.

bro,
you rang?

 

[zhihau]

sam...you are right on this ...i got nothing to say . i will go and get more biz book to expand my thinking ..thankyou .

me learning from you, bro!

 

[Devil Within]

Sounds familee...

The familee is also corrupted except that they legalised it to make it not corrupt. When gov control the land, COE ( transportation cost), and interest rate (inflation), they are controlling a major factor in the cost of living. With the control of cheap labour ( open the gate to influx of cheap foreign workers), that is not free market principle. It is manipulation by the gov. Having raise min pay for the lower section by gov control is like having 2 wrongs which doesn't make it right. You will have a bigger gap in high cost of living with reduced pay which result in poorer lower income sector. Raising the income of lower sector will not solve the high cost of living but exacerbate the problem as there will be those that cannot get employment. These poor will have no income living with even higher cost.

 

[Leongsam]

How much did your car cost you? There is a vast difference between NZ and a City State. NZ is the antithesis of Singapore, nothing about that country is similar.

Cars are a poor example for comparison. Singapore has 690 sq km and a population of 5 million. If car prices were not kept artificially high, the whole Island would be one big car park. Nothing would be able to move.

NZ has only 4.5 million inhabitants and a land area of 268021 sq km! Singapore does not have this luxury.

 

[Char_Azn]

If Sinkies were as selfish and enlightened as me, they would have fucked the fascists and boycotted their products and services. What you gonna do when demand is even more elastic than your cheap-labour supply? What you gonna do when people ride on bicycles to work or carpool instead of getting up at 6 so that they have enough time on their way to work to be trapped in a train? Only losers allow businesses to blackmail them.

Since U can post in here I assume U own or at less use a laptop and/or cell phone. All Laptop/desktop/cell phone manufacturers, BAR NONE, exploits cheap labor and lax human right laws in developing countries to manufacture their product. It is the single reason why the masses are able to afford them. So congratulations oh enlightened one, U support those businesses without even knowing it

 

[groober2011]

Cars are a poor example for comparison. Singapore has 690 sq km and a population of 5 million. If car prices were not kept artificially high, the whole Island would be one big car park. Nothing would be able to move.

NZ has only 4.5 million inhabitants and a land area of 268021 sq km! Singapore does not have this luxury.

NZ is also a poor example to compare with Singapore, different culture, land area, wide open spaces and etc. Choose another country that is similar, or it is not possible because Singapore is unique?

 

[Cruxx]

Since U can post in here I assume U own or at less use a laptop and/or cell phone. All Laptop/desktop/cell phone manufacturers, BAR NONE, exploits cheap labor and lax human right laws in developing countries to manufacture their product. It is the single reason why the masses are able to afford them. So congratulations oh enlightened one, U support those businesses without even knowing it

Only losers allow businesses to blackmail them.

I've never supported a business that gave me the short end of the stick. I've no qualms with businesses arbitraging labour costs across borders. In fact, I'm quite happy that hundreds of millions of Chinese and Indians have been lifted out of poverty thanks to their comparative advantage. My contention isn't over cheap labour but your argument that increases in labour wages will result in businesses passing the increased operating costs to consumers, as though it's an inevitability. The costs of living in Singapore are higher than Australia and Denmark and yet it's they who have the highest minimum wages in the world. Bloody brainwashed Sinkie.

 

[rusty]

Is min wage applicable to FT?
If it does, I presume with this example...corrections most welcomed.

FT basic salary 300
Levy 300
Lodging 100
Misc 100
Total $800

If min wage, say 1500 applicable to FT, the total cost will then be $2000

Would you pay 1500 for a local or 2000 for a FT?

If the above is true wouldn't it hurts the gov revenue from levies?
And is that the main reason for their reluctance?

Please educate me cos' I am a PAP's M'fucker who knows peanuts about economy.

 

[drifter]

me learning from you, bro!

bro your humbleness make me shy . i got nothing to teach . my english is poor the only thing i can teach you is smoke weed ..

 

[groober2011]

I've never supported a business that gave me the short end of the stick. I've no qualms with businesses arbitraging labour costs across borders. In fact, I'm quite happy that hundreds of millions of Chinese and Indians have been lifted out of poverty thanks to their comparative advantage. My contention isn't over cheap labour but your argument that increases in labour wages will result in businesses passing the increased operating costs to consumers, as though it's an inevitability. The costs of living in Singapore are higher than Australia and Denmark and yet it's they who have the highest minimum wages in the world. Bloody brainwashed Sinkie.

That a rise in wages results in inflation is a fallacy as inflation is caused mainly to increase in money supply. There is no increase in money supply but a more even distribution of existing money.

A good example, how much does a person earning a million spends on food or assets compared to 10 persons earning 100,000?

 

[Leongsam]

NZ is also a poor example to compare with Singapore, different culture, land area, wide open spaces and etc. Choose another country that is similar, or it is not possible because Singapore is unique?

Singapore is unique in that it has no hinterland and no other means of earning foreign exchange. It is therefore forced to compete with the rest of the world in the wages game.

NZ can afford to have an uncompetitive wage structure because it can rely on it's wool, dairy, timber and tourism industries to keep going.

Australia is in a similar position, It has vast deposits of minerals which keep the economy humming.

The problem with Singaporeans is that they don't realise what a precarious position they are in. Force wages up and the majority of companies can simply pack up and leave. They are there only because of the availability of cheap manpower. Take that drawcard away and Singapore has nothing to offer the rest of the world.

 

[Cruxx]

Singapore is unique in that it has no hinterland and no other means of earning foreign exchange. It is therefore forced to compete with the rest of the world in the wages game.

NZ can afford to have an uncompetitive wage structure because it can rely on it's wool, dairy, timber and tourism industries to keep going.

Australia is in a similar position, It has vast deposits of minerals which keep the economy humming.

The problem with Singaporeans is that they don't realise what a precarious position they are in. Force wages up and the majority of companies can simply pack up and leave. They are there only because of the availability of cheap manpower. Take that drawcard away and Singapore has nothing to offer the rest of the world.

You don't have to be an Einstein to know that Sinkieland has nothing to offer to the rest of the world.

 

[Suzie]

Sinkieland has huge deposit of S$ Money
in the form of it Sovereign Wealth Funds.
My simple guesstimate maybe in the
region of S$999 Billions.
The past/retired Ministers created this
mess but also Created SWF . Therefore
this current govt should solve this
peanut problem quite easily . With money .
Money created by its citizens.