10 Most Indebted Nations (Guess where we are?)

[Good-Carbuyer]

their style of gahmen patent on okay. you didnt see other country dare to copy

I believe you are right.

[Good-Carbuyer]

at least we can find comfort that when combine, we are likely not even in the top 30??

Time changes, and changes can be in quick time.

[Good-Carbuyer]

actually can you explan more?? totally dont know what you are trying to say sorry we are layman here.

I believe as a layman, he meant: the A-Team becomes a team

[Good-Carbuyer]

Does this report mean the govt owns its ppl money?

You mean you have collected your CPF money?

[Mockngbrd]

Naw I wanted some free parking while I go Katong shopping centre for some tui na but couldnt get a free lot

got merh? ?

[Sk65]

actually can you explan more?? totally dont know what you are trying to say sorry we are layman here.

 

say, example only, i am not sure about the detail at all,

cos all is insider info.

 

Product A,

needs a mixture of 30% asian equities, (mid - high risk)

30% US equities (high risk)

40% SG bond (low risk)

 

 

so government need to offer bond,

if not product A can't exist

 

 

simplified example only.

 

as many mentioned correctly,

we have reserves that are multiple of GDP,

thus we do not need to borrow at this moment.

 

 

thats what i read la.

 

[Good-Carbuyer]

because if you read the whole article. that survey is done be USA and the report is sided slightly to USA side with an agenda

 

what is there to report??

You got the point. You are right. However, the signs around recently do not suggest any thing better.

[Acieed]

Another perspective also ..

 

Two major things happened in the last 20 years - 1) majority of labour intensive industries moved to 3rd world countries, and 2) many labour intensive jobs are now obsolete by technology and new economy - the impact for some, 1) the new economy has not generated quickly enough jobs to replace the old ones, 2) the original skill set for a large part of the work force is no longer applicable or easily adaptable in the new economy.

 

If you go to Japan and most developed countries today, you won't find 5-6 persons manning a small noodle stall like in Singapore, you will find at most 1-2 persons with the help of automation and process improvements. For better or worse, it depends on individuals. But it's a fact that it takes years to adapt to massive structural changes to the global economy like the one we saw in the last 10-20 years, resulting in social problems - like a whole generation of fresh graduates may be jobless for many years, they may not be able to catch up when the economy recovers, by that time, they are 35 or older. Similarly, the older generation 40-45 or older could be stuck in this sudden change and may never have a 2nd chance.

 

Technology has an impact on 3rd world countries too, for some countries, they choose to depend on manual labour to keep the jobs. In Singapore, we still have public car park attendants rather than ERP; and we still have many hawker assistants, and kopi soh rather than self-service like in Japan but as you can see, this is also changing, but slowly because there are still foreign labour. We are likely to go through similar changes like in Japan if we want to keep good paying jobs for Singaporeans, and not rely on foreigners. But we do not yet have a vibrant R&D and creativity community to back all these new demands in the new economy, why ?

 

yep, but that's individual wealth...

like many European countries and US, their govts are near to bankruptcy even though the millionaires are enjoying...

but these ang moh countries' domestic consumers still spend like no tomorrow, live on credt (in a certain way, that still can keep their economies going)

 

Japanese domestic consumer market is never its strong point (a saving nation like most Asian countries) and its export is suffering... at this rate, its revenue and taxes collected will not be able to pay off its public debt and interest

its middle class is suffering as well, after the property bubble burst in 1990, many went into debts and still servicing their debts

it's no wonder Nikkei hit the peak of almost 40,000 at the end of 1989 and went into a decline for 20 long years (super long bear market)... it is only 9000 now

Edited October 31, 2011 by Acieed

[Joseph22]

You got the point. You are right. However, the signs around recently do not suggest any thing better.

 

well signs are everywhere, you dont find a country with good sign at the moment.

 

[Joseph22]

Another perspective also ..

 

Two major things happened in the last 20 years - 1) majority of labour intensive industries moved to 3rd world countries, and 2) many labour intensive jobs are now obsolete - the impact for some, 1) the new economy has not generated quickly enough jobs to replace the old ones, 2) the original skill set for a large part of the work force is no longer applicable or easily adaptable in the new economy.

 

If you go to Japan and most developed countries today, you won't find 5-6 persons manning a small noodle stall like in Singapore, you will find at most 1-2 persons with the help of automation and process improvements. For better or worse, it depends on individuals. But it's a fact that it takes years to adapt to massive structural changes to the global economy like the one we saw in the last 10-20 years, resulting in social problems - like a whole generation of fresh graduates may be jobless for many years, they may not be able to catch up when the economy recovers, by that time, they are 35 or older. Similarly, the older generation 40-45 or older could be stuck in this sudden change and may never have a 2nd chance.

 

Technology has an impact on 3rd world countries too, for some countries, they choose to depend on manual labour to keep the jobs. In Singapore, we still have public car park attendants rather than ERP; and we still have many hawker assistants, and kopi soh rather than self-service like in Japan but as you can see, this is also changing, but slowly because there are still foreign labour. We are likely to go through similar changes like in Japan if we want to keep good paying jobs for Singaporeans, and not rely on foreigners. But we do not yet have a vibrant R&D and creativity community to back all these new demands in the new economy, why ?

 

 

sorry your noodle store refer to those in Hawker and Coffee shop or those with a shop by itself??

 

cause most noodle shop i go only 2 person.

[Acieed]

If you go to Japan, you will see noodle shops everywhere, run by 1-2 uncle or auntie, and a self-order machine. They are not food court or hawker stall.

 

But even some hawker or kopi tiam stalls have 3-4 workers in Singapore. 2 person cooking, and 1 or 2 person serving and collecting used dishes. But one thing we are missing here, civic minded people who will clean their own table and bring back their own tray.

 

sorry your noodle store refer to those in Hawker and Coffee shop or those with a shop by itself??

 

cause most noodle shop i go only 2 person.

 

[Good-Carbuyer]

well signs are everywhere, you dont find a country with good sign at the moment.

You got the point. You are right. I am still not convinced to emigrate to any country. I believe it is about the same problems with different presentations. Example: those people in poorer countries can have many children. Those in richer countries do not have the same conducive reproduction environment.

[Tom_kkh]

debts to Singaporean? u try telling our debtor u need money now and ask him to pay off now, see can a not....

 

[Old-driver]

No way, I was at the seawind showflat yesterday, so packed, so many people buying, no lot for my small 1.4litre b &b car, all BMW Merc Jaguar parked there

Never buy when everybody is buying

[Tigershark1976]

Japan has something which Singapore don't, Japan has the world's highest no. of patents filed and granted. More likely when all our neighbouring countries banned or restrict exports of maids due to abusive employees, we will be buying robot maids, using Japanese technology.

 

For every non-Japanese branded or made camera, computer, car, medical equipment, optics or phone you buy, you are highly likely to be paying to somebody in Japan for the patented technology.

 

Did somebody mentioned China ? They are #3 on the world ranking for patent filing. And Singapore ? Uhh.. not ranked...

 

 

but u dont forget... Singaporean is the world most obedient nation... whatever gov say, we quietly accept... [laugh]

[Happily1986]

Japan is way more jialat...

public debt almost double of GDP, stagnant economy of 20 years and a serious aging population problem

 

if it doesn't solve the population issue (which is difficult due to their immigration restrictions and low birth rates), the Japanese govt may well go bankrupt in another 15/20 years

 

who wishes for a Japanese maid?

 

lets put the issue in perspective. Japan has the highest saving rate for any 1st world country, Koizomi didn't force the split up of Japan Post for fun you know. Anyway for Japan's case, the government is cash strapped but the conglomerates are flushed with cash. Even if the government is bankrupt, the economy wouldn't grind to a halt because there is ample equity circulating in the domestic economy.

[Tigerwoods]

Another perspective also ..

 

Two major things happened in the last 20 years - 1) majority of labour intensive industries moved to 3rd world countries, and 2) many labour intensive jobs are now obsolete by technology and new economy - the impact for some, 1) the new economy has not generated quickly enough jobs to replace the old ones, 2) the original skill set for a large part of the work force is no longer applicable or easily adaptable in the new economy.

 

If you go to Japan and most developed countries today, you won't find 5-6 persons manning a small noodle stall like in Singapore, you will find at most 1-2 persons with the help of automation and process improvements. For better or worse, it depends on individuals. But it's a fact that it takes years to adapt to massive structural changes to the global economy like the one we saw in the last 10-20 years, resulting in social problems - like a whole generation of fresh graduates may be jobless for many years, they may not be able to catch up when the economy recovers, by that time, they are 35 or older. Similarly, the older generation 40-45 or older could be stuck in this sudden change and may never have a 2nd chance.

 

Technology has an impact on 3rd world countries too, for some countries, they choose to depend on manual labour to keep the jobs. In Singapore, we still have public car park attendants rather than ERP; and we still have many hawker assistants, and kopi soh rather than self-service like in Japan but as you can see, this is also changing, but slowly because there are still foreign labour. We are likely to go through similar changes like in Japan if we want to keep good paying jobs for Singaporeans, and not rely on foreigners. But we do not yet have a vibrant R&D and creativity community to back all these new demands in the new economy, why ?

Why ?

Because the money are basically parked in G and T company. Any gains from these investments only benefit people from G and T company.

However, if a good chunk of the money are used to invest into R&D and harnessing Patents, The gains will benefit the Country.

Tell a Scholar to invest the money, they sure choose equities as it brings tangible results, whereas R&D ?? Scholar can't see a thing... and hard to measure KPI...

[Tigerwoods]

Never buy when everybody is buying

But someone say Property in SG only go up no go down because Garment continuously importing FTs to meet 6.5M