Poverty level in Singapore and the world, how $$$ much do you need?

[Windwaver]

https://www.straitstimes.com/opinion/in-your-opinion-podcast-does-a-family-of-4-in-spore-really-need-6426-a-month-for-a-basic-standard-of-living-pt-1

In Your Opinion Podcast: Does a family of 4 in S'pore need $6,426 a month for basic living standard?

Synopsis: The Straits Times' opinion editor Grace Ho takes a hard look at political and social issues of the day with her expert guests. 

In this episode, the first of two parts, she looks at whether a family of four in Singapore needs $6,426 a month for a basic standard of living. 

In the studio to explain the study and its methodology are Associate Professor Teo You Yenn of the School of Social Sciences, Nanyang Technological University; and Dr Ng Kok Hoe, Senior Research Fellow and Head of the Case Study Unit at the Lee Kuan Yew School of Public Policy. 

Highlights (click/tap above):

00:41: Is there a household budget that captures the lived realities of Singaporeans? What is the Minimum Income Standard?

04:55: Addressing criticisms of the study and its methodology

10:00 How is the Minimum Income Standard applied in the United Kingdom, and how does the UK decide what is a living wage?

 

https://www.straitstimes.com/opinion/thinking-aloud-6426-a-month-for-basic-standard-of-living-study-on-family-budgets-must-be

Does a family of 4 really need $6,426 a month for a basic standard of living? It depends

It is about what people feel they need to be socially accepted, not just what they can afford

For a few years, money at home was tight. I did not go on overseas field trips or to the cinema, and made excuses to skip class gatherings at restaurants. Each missed activity meant one less shared experience and common talking point - and one step closer to feeling as if I did not belong.

This is where the minimum income standard (MIS) approach, which relies on public consensus and not just expert opinion, comes in.

[Inlinefour]

6426 might be enough for 500k mediocre peanut daily but if ET wise maybe one hour 🤫🤫🤫

 

difference between peasant and ivory tower residents 🤑🤑🤑

[Windwaver]

Where got poverty line in Singapore? Piccadilly Grand sold 77% on launch .

[Jamesc]

To have a family of 4 you need to find a wife.

How many girls will marry you if 

you do not have the potential to earn 6.4k?

[Jamesc]

A man can live happily in a 3 room flat with a wife and 2 kids.

But how many ladies will be happy with this?

[kobayashiGT]

3 minutes ago, Jamesc said:

To have a family of 4 you need to find a wife.

How many girls will marry you if 

you do not have the potential to earn 6.4k?

Yah lor. Chicken and egg theory.

You have one wife and one MIL, You one month chao chao $18K one. hahaha.

[Jamesc]

So 3 room flats are not the problem, 6k salary is not a problem.

Its ladies that are the problem.

[Jamesc]

To get more babies forget the SDUs.

Give every single man a Ferrari.

Ladies will be queuing up at clubs to go home with them and have their baby.

[Jamesc]

Baby come take back the Ferrari and give to the next single guy.

[DOBIEMKZ]

10 minutes ago, Jamesc said:

To have a family of 4 you need to find a wife.

How many girls will marry you if 

you do not have the potential to earn 6.4k?

Well.... got to find a lady who values my love over bread; not to say that I don't bring bread home, but hopes she is contented with the bread that I brought home yet derives much more solace from my affection.😄

[Jamesc]

Forget the baby bonus.

Any wife has a third child

give them a Herpies bag.

Give incentive

must be a incentive people want.

[Jamesc]

I admire true love.

Younger ladies these days are not romantic.

They are just very "practical"?

3 minutes ago, DOBIEMKZ said:

Well.... got to find a lady who values my love over bread; not to say that I don't bring bread home, but hopes she is contented with the bread that I brought home yet derives much more solace from my affection.😄

 

[Windwaver]

21 minutes ago, DOBIEMKZ said:

Well.... got to find a lady who values my love over bread; not to say that I don't bring bread home, but hopes she is contented with the bread that I brought home yet derives much more solace from my affection.😄

 

32 minutes ago, kobayashiGT said:

Yah lor. Chicken and egg theory.

You have one wife and one MIL, You one month chao chao $18K one. hahaha.

Where got poor in Singapore?

Check this out

https://www.who.int/data/gho/indicator-metadata-registry/imr-details/4744

Data type:

Percent

Rationale:

 Monitoring poverty is important on the global development agenda as well as on the national development agenda of many countries. The World Bank produced its first global poverty estimates for  developing countries for World Development Report 1990: Poverty (World Bank 1990) using househ old  survey data for 22 countries (Ravallion, Datt, and van de Walle 1991). Since then there has been  considerable expansion in the number of countries that field household income and expenditure surveys.  The World Bank's Development Research Group maintain s a database that is updated annually as new  survey data become available (and thus may contain more recent data or revisions) and conducts a major  reassessment of progress against poverty every year. PovcalNet is an interactive computational tool that  all ows users to replicate these internationally comparable $1.90 and $3.10 a day global, regional and  country - level poverty estimates and to compute poverty measures for custom country groupings and for  different poverty lines.  The Poverty and Equity Data p ortal provides access to the database and user - friendly dashboards with  graphs and interactive maps that visualize trends in key poverty and inequality indicators for different  regions and countries. The country dashboards display trends in poverty measure s based on the national  poverty lines alongside the internationally comparable estimates, produced from and consistent with PovcalNet.

Definition:

 The indicator Proportion of population below the international poverty line is defined as the percentage of the population living on less than $1.90 a day at 2011 international prices. The 'international poverty line' is currently set at $1.90 a day at 2011 international prices. 

Method of estimation:

Data are taken from the United Nations' SDG Indicators Global Database. See links below for  more information. To measure poverty across countries consistently, the World Bank’s international measures apply a common standard, anchored to what “poverty” means in the world’s poorest countries.  The current extreme poverty line is set at $1.90 a day in 2011 PPP terms, which represents the mean of the national poverty lines found in the same poorest 15 countries ranked by per capita consumption.  When measuring international poverty of a country, the international poverty line at PPP is converted to local currencies in 2011 price and is then converted to the prices prevailing at the time of the relevant household survey using the best available Consumer Price Index (CPI).  (Equivalently, the survey data on household consumption or income for the survey year are expressed in the prices of the ICP base year,  and then converted to PPP $’s.) Then the poverty rate is calculated from that survey. All inter-temporal comparisons are real, as assessed using the country-specific CPI. Interpolation/extrapolation methods areused to line up the survey-based estimates with these reference years.

 

https://www.who.int/data/maternal-newborn-child-adolescent-ageing/indicator-explorer-new/mca/proportion-of-population-below-the-international-poverty-line-(sdg-1.1.1)

[Windwaver]

https://www.worldatlas.com/geography/southeast-asia.html

Economy

Southeast Asia was an essential part of the world trade system even before the European contact. Various commodities, including spices, such as pepper, cloves, nutmeg, and ginger, developed in the region. The spice trade, developed by the Arabs and Indian merchants, and other commercial activities attracted the Europeans, who later annexed some of the region’s territories. The Dutch occupied Indonesia, the French took control of Indochina, and Malay became a British territory.

Agriculture is the main economic activity in most Southeast Asian countries, except Singapore and Brunei. This sector employs over 60% of Laos and Cambodia's workforce, with rice, cassava, corn, and pulses as the main crops. Fishing is also an important source of livelihood in some areas. Countries such as Malaysia, Indonesia, Thailand, and the Philippines are considerably large shrimp importers.

Singapore is the region’s richest country, with a GDP per capita of $65,233, with major industries including electronics, petrochemical, and petroleum. Brunei and Malaysia are, respectively, the second and the third-richest countries with per capita GDP of $31,087 and $11,414. By contrast, Myanmar is the poorest country in the region, with a GDP per capita of $1,408. East Timor and Cambodia also have a GDP per capita of less than $2,000.

The five dominant Southeast Asian countries refer to their economies as Tiger Cub Economies. These countries are Vietnam, Indonesia, Thailand, The Philippines, and Malaysia. The economies are referred to as Tiger Cub because of their attempts to develop export-oriented economies, similar to those of highly developed countries of Taiwan, Singapore, South Korea, and Hong Kong, referred to as the “Four Asian Tigers.” The five countries refer to themselves as cubs (young tigers) because of their fast-rising economies. 

[Windwaver]

[Confusedboi]

Jokes aside the income inequality problem is no laughing matter and is getting worse IMO . GDP per capita is heavily skewed upwards due to all the high income earners be it locals or high earning PR’s  imported from overseas. Gahmen  stats say median salary per person is about 4.5-4.8k sgd give or take a few hundred dollars difference. Gahmen also say less than 40% of all working adults pay income tax after all the deductions. Doesn’t that sound alarm bells somewhere ?https://dollarsandsense.sg/whats-median-salary-singapore-every-age-gender-education-race/

[Throttle2]

GLSGL!

[Ody_2004]

Just watched this yesterday..