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This is because there is still a significant amount of residents who were borned around Singapore's Independence. During those harsch times, going to universities was a luxury. And for those born in the 1950s and before, going to work after primary/secondary school education was a in thing, simply because Singapore was poor then
As a result, some of them are still working and are accepting low wages. This is a point I am worried about. These people are the older generations of workers, doing the essential menial and are paid lowly (relative to the younger generation). When the time comes who are going to work their jobs, I dont think Singapore should just be relying on foreign lab our to take over their job and roll the problem down to future generations
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26-08-2019, 09:19 PM
(This post was last modified: 26-08-2019, 09:24 PM by fanobell.)
To reconcile the contrast, maybe this article hold some truth...
A few days ago the Financial Times carried an article entitled “What the foreign direct investment data tell us about corporate tax avoidance” which confirmed Singapore’s major role as a tax haven for US corporations. The article says that since 1982 US corporations have spent about $5.1 trillion accumulating direct investments abroad:
“About $2 trillion of this growth has come from reinvesting profits “earned” in seven small countries known for helping multinationals avoid tax: Bermuda, the UK Caribbean islands, Ireland, Luxembourg, the Netherlands, Singapore, and Switzerland…
Full article here https://kenjeyaretnam.com/2017/11/26/mor...dp-growth/
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Enterprise Singapore and MAS teaming up to be the Chas T Main of Asia Pacific?
Gravy train for Singapore's financial and construction services?
https://www.straitstimes.com/singapore/r...-to-region
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Are we starting to see the impact of low birth rates ?
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7,220 Fewer Teachers By End 2019? The Fate Of Teachers Hangs In The Balance
9th October 2019
.......
A Decrease In Permanent Staff In The Education Sector
We chanced upon the Ministry of Education Budget 2019 report and one particular set of number stood out from the rest.
The number of permanent staff in the education sector will be reduced to 40,184 from 47,836, a sharp decline of 7,652 employees. This cut in manpower comes mainly from Education Service. It is estimated that the number of permanent staff in the education service sector will be reduced to 32,567......
We chanced upon an article that indicates that the reduction in the hiring of teachers before the year 2015. Then, the focus of recruitment was mainly to replace teachers who left the teaching force.......
https://blog.seedly.sg/moe-education-service-teachers/
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It has been expected as the schools merge and combine
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
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Those in their 40s earn more, but slight dip in home ownership comparatively. Wld be interesting to see the statistics when the study subsequently covers the generations who are currently in their 20s/30s.
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Singaporeans' education, employment, wage outcomes have improved over the generations: MOF study
Published 2 hours ago
SINGAPORE - Compared to earlier cohorts, Singaporeans in their 40s today are better educated, more able to find jobs and earn more, and live longer.
But they also have less family support, as fewer of them are married and families are smaller, a report by the Ministry of Finance published on Tuesday (Oct 22) shows.
And while home ownership has risen over time, there was a slight dip for the generation in their 40s, compared with those who are in their 50s and 60s.......
The median real gross monthly income of those in their 40s is twice that of those in their 60s, when that group was still in their 40s. Even the bottom 20 per cent of income earners draw twice as much as those in their 60s did when they were in their 40s......
Singaporeans in their 20s and 30s are not included in the report, as they are still in the early stages of their working life, says the MOF.......
https://www.straitstimes.com/singapore/s...ations-mof
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Unlike yours truly, MAS seldom poops on the parade of asset promoters and salesmen. So MAS probably thinks that the risk of lower property prices is not low.
If the situation does go south, the government can at least claim to have done its job of warning over-leveraged property investors.
"SELL one property, buy two" has been the sales pitch of numerous property agents in these challenging times.
The proposition - sell your HDB flat and use the proceeds for down payments on two condos - has had some home owners and investors hooked, but market watchers are cautioning against it, calling for prudence as it carries some serious risks.
Potential buyers are urged to do their sums carefully and consider possible scenarios before taking the bait dangled by sales agents. Amid a slowing global economy, being laid off and a property's value depreciating are real possibilities, with both occurrences crippling a couple's ability to service two mortgages at the same time.
https://www.businesstimes.com.sg/real-es...down-risks
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Think it may eventually end up Pioneer Gen -> Merdeka Gen -> Gen X -> Millennials Gen package .....
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".......But have we neglected the needs and aspirations of Gen Xers - those born between 1965 and 1980 - who are sandwiched between being dutiful to their parents and nurturing to their children? ......Gen Xers have made sacrifices in their time. Many left school early so as to contribute to the family income. They survived many rounds of economic restructuring and embarked on learning and relearning to stay relevant.
Increasingly, they face redundancy amid technological displacement or competition. When displaced from their jobs, many face the dim prospect of taking on positions with meagre pay and no benefits. They have had to delay gratification time and again so that others can have more....."
https://www.straitstimes.com/forum/lette...f-gen-xers
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Hardware chain Home-Fix is closing all its retail stores in Singapore
Dec 11, 2019
Hot on the heels of Sasa's move to shut down all stores in Singapore, another well-loved brand is bowing out of local malls.
Home-Fix has been quietly shuttering its stores in Singapore over the past year.....The decision comes amid reports of financial trouble for the company, which reportedly owes creditors $19.8 million and is undergoing interim judicial management.
Home-Fix's founder and managing director Low Cheong Kee, 55, had also embarked on a "right-sizing" exercise in recent years, reducing the number of stores in Singapore from 23 in 2014 to 16 in 2018.......
https://www.asiaone.com/singapore/hardwa...-singapore
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08-02-2020, 07:26 PM
(This post was last modified: 08-02-2020, 08:04 PM by Behappyalways.)
Economy to contract 1% in Q1 amidst nCov outbreak: analysts
https://sbr.com.sg/economy/in-focus/econ...k-analysts
Five Britons contract coronavirus in French ski resort
https://www.reuters.com/article/us-healt...020CT?il=0
People in the queue for surgical masks at Mustafa Centre, Singapore (Feb. 7, 2020)
https://www.youtube.com/watch?v=vVEk-alnI6E
People in S’pore don full face & body mask to ward off coronavirus or for peace of mind
https://mothership.sg/2020/02/singapore-full-mask-face/
1. Get all the toilet paper because you need to Sh** in an apocalypse
According to Teo, one must always take a dump during a zombie apocalypse.
“You cannot run away from zombies if you hold on to your Sh** for too long,” he said.
S’pore man shares satirical guide on how to survive ‘zombie apocalypse’ by being a smart hoarder
https://mothership.sg/2020/02/zombie-apo...t-hoarder/
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