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Thread: Singapore is living on debt

  1. #41

    Default Re: Singapore is living on debt

    Quote Originally Posted by ahboy168 View Post
    Except for car, which is a depreciation asset.

    Have car => can get gf => can get married => can buy hdb which is an appreciating asset.

    Therefore car indirectly contributes to appreciating your assets.
    Last edited by ArchRival; 21st July 2013 at 05:30 PM.

  2. #42
    Moderator diver-hloc's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by ArchRival View Post

    Have car => can get gf => can get married => can buy hdb which is an appreciating asset.

    Therefore car indirectly contributes to appreciating your assets.

    I know you are only teasing....

    But if you 'REALLY' think you'll need a CAR to get a GF... then I really feel sad for S'porean...

    Scuba & Father... For Life

  3. #43

    Default Re: Singapore is living on debt

    Quote Originally Posted by diver-hloc View Post
    I know you are only teasing....

    But if you 'REALLY' think you'll need a CAR to get a GF... then I really feel sad for S'porean...
    girls flock to me because of my bicycle

    Last edited by kei1309; 21st July 2013 at 08:21 PM.

  4. #44
    Member 9V-Orion Images's Avatar
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    Default Re: Singapore is living on debt

    Singapore reserves drawn 55 times since 2002 (Video).

    That's an average of 5 times per fiscal year and I had thought we only did it once.
    Last edited by 9V-Orion Images; 22nd July 2013 at 12:01 AM.
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  5. #45

    Default Re: Singapore is living on debt

    Quote Originally Posted by 9V-Orion Images View Post
    Singapore reserves drawn 55 times since 2002 (Video).

    That's an average of 5 times per fiscal year and I had thought we only did it once.
    right. did you even bother to state the explanation why? or the different portions of the reserves that were tapped into?

  6. #46
    Member 9V-Orion Images's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by kei1309 View Post
    right. did you even bother to state the explanation why? or the different portions of the reserves that were tapped into?
    It's already stated in the article mah.

    Ministry of Finance (MoF): Frequently Asked Questions (FAQ).
    Last edited by 9V-Orion Images; 22nd July 2013 at 12:55 AM.
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  7. #47

    Default Re: Singapore is living on debt

    The title - "Singapore is living on debt"

    It all depends on which generation you are in.

    For example, I met a taxi driver. In our conversation, he told me that he bought his private appartment 27 years ago at $200k. Yes, he was on loan just like most people unless you are borned with a golden spoon. Fast track to 2013, he was offered $1.6m to sell his house. He is no longer on debt as of today as he had already repaid all his debts. He is driving taxi not because he needs to make ends meat but to pass time, to meet people, as well as to have some pocket money for his daily expenses. He also told me that he would sell his house for $1.6m and buy a studio appartment for $700k should he decides to quit as a taxi driver. Moreover, all his children are married and moved out. There is no need to stay in a big house anymore. He will use the balance of his sale proceeds for his retirement fund.

    Therefore, if you belong to the older generations, chances that we are debt free. Only the XYZ generations onwards will feel the heat. However, all is not lost, if your grandparents / parents build the assets for you, you may not be "jialat".

  8. #48

    Default Re: Singapore is living on debt

    Quote Originally Posted by ArchRival View Post

    Have car => can get gf => can get married => can buy hdb which is an appreciating asset.

    Therefore car indirectly contributes to appreciating your assets.
    This was very true in the 90s. If you drive a car and park outside a disco, you confirmed get a girl. However, whether she will become your gf or wife is another story.

    In today context, I have no idea.

  9. #49

    Default Re: Singapore is living on debt

    Quote Originally Posted by diver-hloc View Post
    I know you are only teasing....

    But if you 'REALLY' think you'll need a CAR to get a GF... then I really feel sad for S'porean...
    First of all, you need to classify which country girls and to categorise pretty or normal or ugly girls. Let face the fact, most girls would prefer their bfs to have a car.

  10. #50

    Default Re: Singapore is living on debt

    Rising household debt in S'pore worrying: MAS - Channel NewsAsia

    wtf...............housing loans is 45% of GDP?!

  11. #51

    Default Re: Singapore is living on debt

    Quote Originally Posted by Jedi View Post
    This was very true in the 90s. If you drive a car and park outside a disco, you confirmed get a girl. However, whether she will become your gf or wife is another story.

    In today context, I have no idea.
    today you park outside a disco, you get a parking summons instead
    宁愿遇见丢失幼崽的母熊,也不愿碰上做蠢事的愚人

  12. #52
    Senior Member Big Kahuna's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by ArchRival View Post

    Have car => can get gf => can get married => can buy hdb which is an appreciating asset.

    Therefore car indirectly contributes to appreciating your assets.
    Sekali you got a Guardian Force instead?

  13. #53

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    Quote Originally Posted by Big Kahuna View Post

    Sekali you got a Guardian Force instead?
    Which boss did you draw it out from

  14. #54

    Default Re: Singapore is living on debt

    Quote Originally Posted by ArchRival View Post
    Rising household debt in S'pore worrying: MAS - Channel NewsAsia

    wtf...............housing loans is 45% of GDP?!
    Not counting car loans
    Singapore is in property bubble.. and with gov plans to achieve 7 mil residents... well

  15. #55
    Moderator diver-hloc's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by hanzohattori View Post
    Not counting car loans
    Singapore is in property bubble.. and with gov plans to achieve 7 mil residents... well

    Property you have no choice... but yet, Singaporean are so willing to chain themselves to the mountain of debt just to own a Car.....

    I don't really care if the property burst or not... I don't own 1 house to stay and 2 condo for investment... either am I over stretched in loan for Cars or Credit. If the individual person isn't doing their loan calculation properly... or invest without a backup plan... then each and everyone will have to answer for themselves....

    Scuba & Father... For Life

  16. #56

    Default Re: Singapore is living on debt

    But what are the risks ... rising interest rates? Or being the last one in the musical chair? ... the 7mil target? well, you can always to something in the next election to "mitigate" the risk

    Quote Originally Posted by hanzohattori View Post
    Singapore is in property bubble.. and with gov plans to achieve 7 mil residents... well

  17. #57

    Default Re: Singapore is living on debt

    Quote Originally Posted by keiser View Post
    But what are the risks ... rising interest rates? Or being the last one in the musical chair? ... the 7mil target? well, you can always to something in the next election to "mitigate" the risk
    Besides what you mentioned ? Can't think of any right now.. the armchair economist is too lazy at this time of day

  18. #58

    Default Re: Singapore is living on debt



    Dudes, 1/3 to 1/2 of our economy is based on a bubble!
    Now isn't that interesting?
    Govt want 7 mil people to sustain the property market. Lets see if these 7 mil can help revive the economy to sustain/back up the bubble or not.
    I can tell you it wouldn't. In fact, sg economy is in a downslide already.

    Last edited by ArchRival; 25th July 2013 at 09:52 PM.

  19. #59
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    Default Re: Singapore is living on debt

    In my opinion the 7 million target is a terrible mistake. But as usual, it will not be admitted until after the harm has been done.

  20. #60
    Member CasualBear's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by ricohflex View Post
    In my opinion the 7 million target is a terrible mistake. But as usual, it will not be admitted until after the harm has been done.
    flood became ponding..
    wonder what creative termilogy will replace overpopulation
    Leave nothing but footprints, take nothing but photos..~ ;)

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