Singapore asset inflation 1: PAP the wizards of bubbleland

[Confuseous]

Asset allow to rise, wages must be stagnant
Lee Kuan Yew said "Let me explain what happens when we make progress. HDB prices go up, private home (prices) go up, all asset prices go up. Everybody finds he owns something more valuable in the house, his shares are worth more and he can live a good life,". What he failed to mention is that whenever there is progress, the net effect is often deflationary. We are able to build HDB today with fewer people and material that cost less due to technology. We should have a lower housing price. The high property price is deliberately engineered by the government to enrich the elite.

Gan Kim Yong
Occasionally, clowns in PAP will show that wages has rise and there are plans for increment. However, our increment is more due to PAP's monies printing and perpetually falls behind CPI. The real PAP position is, wages the only component that is not allowed to rise in real term. Manpower minister Gan Kim Yong put it,"We have learnt from our experience in the 1970s and 1980s - when wages rise in response to inflation, the outcome is not desirable."

- http://veritas-lux.blogspot.com/2011/08/singapore-hyper-inflation-1-pap-wizards.html

 

[Watchman]

A buyer has signed up to pay a record-breaking $19 million for a four-bedroom
apartment at The Marq on Paterson Hill......The price for the 3,003 sq ft
apartment at The Marq on Paterson Hill works out to just under $6,400 per sq foot.

We are already at the beginning of very high inflation
To buy at this price level, someone earning S$5000 would need to save every cent,
get started during the reign of Louis XIV and work for 317 years.

Those earning S$3000 would need to start saving from the time of Christopher Columbus,
before America was discovered.

We are already at very high inflation early stage. The official CPI level often do not
reflect the true inflation numbers as its computation has been rigged over the years.
Very often asset inflation is not taken into account of CPI.

Well someone is very evil to say your pay remain stagnant and yet theirs is destined to increase .

There seems no end for this evil .

 

[steffychun]

Up, up and up, erections?

 

[sense]

Yet another cycle of Property Bubble to be burst... get ready for a hair raising rollercoaster ride.