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Thread: The Myth of GDP and its Effect on Real Incomes

  1. #21
    Moderator diver-hloc's Avatar
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by iMac08 View Post
    this is interesting..i work on average 64hr min a week to almost 68hr or more.i shld migrate
    I kind of find it strange, that S'poreans answers to every problem is to Migrate..... As if migrating, you aren't exchanging one set of problem.... with another.

    But to each his/her own.... i think

    Scuba & Father... For Life

  2. #22
    Member iMac08's Avatar
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    yes. to each his own....migrate is last option for now...and i love what i do and have no complaints over the hours...of course will try to cut down in future...but now i am still young better cheong....

  3. #23

    Default Re: The Myth of GDP and its Effect on Real Incomes

    The fact that the country's top keep mentioning of a serious brain drain occuring, needing foreign talents are suggesting that all these talks of Sayonara (goodbye in Japanese) is real and not mere coffeeshop rant.

    Try staying or working in different countries for a while and your perspective of the world is no longer the same again.




    Quote Originally Posted by diver-hloc View Post
    I kind of find it strange, that S'poreans answers to every problem is to Migrate..... As if migrating, you aren't exchanging one set of problem.... with another.

    But to each his/her own.... i think
    Tum podem extulit horridulum...日出東方﹐唯我不敗。

  4. #24
    Moderator diver-hloc's Avatar
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by iMac08 View Post
    yes. to each his own....migrate is last option for now...and i love what i do and have no complaints over the hours...of course will try to cut down in future...but now i am still young better cheong....
    Quote Originally Posted by eyes View Post
    The fact that the country's top keep mentioning of a serious brain drain occuring, needing foreign talents are suggesting that all these talks of Sayonara (goodbye in Japanese) is real and not mere coffeeshop rant.

    Try staying or working in different countries for a while and your perspective of the world is no longer the same again.

    True.... each person must make his/her own decision regarding their own life.

    But be as it may... one must not see Migration as a Cure-All, Solve-All, kind of solution to everydays issue.

    I know of people happily living aboard.... and I also know people who can't come back because their lives aboard wasn't as good as they have thought its going to be. Whatever you do Migrate or not.... just doing your planning as carefully as you can.

    Goodluck

    Scuba & Father... For Life

  5. #25
    vince123123
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Just to correct you that whilst law firms (ie the company) charge by the hour, lawyers (ie the human being employee) are not paid by the hour. Hence, lawyers putting in more hours of work do not directly translate into proportionately more pay as in the case of hourly temp workers.

    Quote Originally Posted by alantkh View Post
    they are probably paid by the hour like lawyers...

  6. #26
    Member iMac08's Avatar
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Vince is a lawyer? haha..i'm not and i agree...my friends work till damn bloody late and they not pay by hours...

  7. #27

    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by alantkh View Post
    they are probably paid by the hour like lawyers...
    no, paid by performance and how much money they earn for the company.

  8. #28

    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by iMac08 View Post
    Vince is a lawyer? haha..i'm not and i agree...my friends work till damn bloody late and they not pay by hours...
    But at least lawyer's pay is still better than most industry.
    But then again, most of us is still in the rat race... how sad.

  9. #29

    Default Re: The Myth of GDP and its Effect on Real Incomes

    The problem of brain drain is very real. Lots of people with abilities are quitting this country. Not because they can't contribute, but because the system don't allow them to contribute. They feel this place runs on wayang, with little real underlying substance. People with real substance get sidelined, and of course they get frustrated enough to leave.

  10. #30

    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by vince123123 View Post
    Just to correct you that whilst law firms (ie the company) charge by the hour, lawyers (ie the human being employee) are not paid by the hour. Hence, lawyers putting in more hours of work do not directly translate into proportionately more pay as in the case of hourly temp workers.
    izzit? dunno leh, my lawyer classmate says he charges by the hour. If you are partner, then it is different right?

  11. #31
    Member iMac08's Avatar
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by alantkh View Post
    izzit? dunno leh, my lawyer classmate says he charges by the hour. If you are partner, then it is different right?
    that is diff..he charges client by the hour. if he is not boss but pay by someone else it is diff

  12. #32
    vince123123
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    As I said, the law firm charges the client by the hour. The lawyer (ie the human) is not paid by the hour. The same applies whether you are an associate or partner. If you still have doubts, ask your classmate to explain it properly to you.

    Quote Originally Posted by alantkh View Post
    izzit? dunno leh, my lawyer classmate says he charges by the hour. If you are partner, then it is different right?

  13. #33
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    So coincidental. My wife and I migrating next month because cost of living too high in SG. We just decided it wasn't worth it anymore working our whole lives just to pay off one house.

  14. #34

    Default Re: The Myth of GDP and its Effect on Real Incomes

    I'm glad for you! All the best! I always like your unpretentious works with clean and straight style.


    Quote Originally Posted by ckuang View Post
    So coincidental. My wife and I migrating next month because cost of living too high in SG. We just decided it wasn't worth it anymore working our whole lives just to pay off one house.
    Tum podem extulit horridulum...日出東方﹐唯我不敗。

  15. #35

    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by ckuang View Post
    So coincidental. My wife and I migrating next month because cost of living too high in SG. We just decided it wasn't worth it anymore working our whole lives just to pay off one house.
    Cool! Where you guys are heading for?

  16. #36

    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by vince123123 View Post
    This topic got remembered when I read this recent article:

    http://temasekreview.com/2009/09/23/...h-time-income/

    This concept was first written by TOC:

    http://theonlinecitizen.com/2009/05/...0%9D-part-one/

    I think they make interesting reads; whether or not you agree or disagree.
    Sadly, I can now see these as demagogue-style writings, filled with lots of real complaints, real wishes, some fantasies (that economic growth is supposed to lead an increase in leisure), long wish lists and lots of disguised whining-- but no real solutions or alternatives.

    The way Abdul Ghafor kept whining about 42x increase in income since 1960 was truly amusing-- has he never heard of "real" (as opposed to "nominal") incomes? The only way our income will increase 42x is if things become 42x cheaper!

    Nobody seriously believes that, so why keep harping on it?

    In reality, a lot of people have gotten poorer-- even the rich people. Eg the tycoons of the past built such grand houses (black and white bungalows, chinese mansions, etc)-- but how many rich people can afford to live in such large houses today? Even they are cramped into 5,000 sq ft penthouses that cost $10M or $20M!

    I can't understand what gave these writers the notion that life should become easier as time goes by-- even with economic growth.

  17. #37
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Hey Eyes, thanks so much for your compliments. I try. I noticed you are in Osaka, a wonderful place to live. I was hoping my wife could get a job in Japan. A place I've long wanted to live in.

    Scanner- We're moving to San Francisco. Scary, one of the most expensive cities in USA is still waaayyy cheaper than Singapore.

  18. #38

    Default Re: The Myth of GDP and its Effect on Real Incomes

    Yea it's a nice place to live. The folks here are polite, lots impressive rural and cityscapes and the civic-mindedness is also impressive. I'm now on a sabatical for a few months in Singapore before going back there.




    Quote Originally Posted by ckuang View Post
    Hey Eyes, thanks so much for your compliments. I try. I noticed you are in Osaka, a wonderful place to live. I was hoping my wife could get a job in Japan. A place I've long wanted to live in.

    Scanner- We're moving to San Francisco. Scary, one of the most expensive cities in USA is still waaayyy cheaper than Singapore.
    Tum podem extulit horridulum...日出東方﹐唯我不敗。

  19. #39
    Senior Member Leong23's Avatar
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by ckuang View Post
    So coincidental. My wife and I migrating next month because cost of living too high in SG. We just decided it wasn't worth it anymore working our whole lives just to pay off one house.
    So sad that HDB and CPF scheme really seem to be a scam to squeeze us......

  20. #40
    Member iMac08's Avatar
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    Default Re: The Myth of GDP and its Effect on Real Incomes

    Quote Originally Posted by Leong23 View Post
    So sad that HDB and CPF scheme really seem to be a scam to squeeze us......
    yes indeed. last time says can withdraw all after retirement. now comes out with new 'beneficial' scheme for us when we are old. i work hard all my life. in future,who is to dictate how i spend my money?who is to tell me i cannot spend my money in lump sum but instead feeds me in little bit of a couple of hundreds?for me to eat macdonalds?

    with HDB so high?everybody must earn 20-30k to be able to braek out of this crap

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