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Archive for January, 2009

Singapore’s Growth Model Needs Rethinking

Saturday, January 24th, 2009

In a rather critical article, the Wall Street Journal says our export-driven economy is “falling on its face” and the growth model which our government has embarked on “needs rethinking.” The main criticisms seem to be our low consumption, the government’s risky bets on certain industries, and our over-reliance on the government: “Singapore’s economy would [...]


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Posted in Investment, Other Money Matters | 11 Comments »

Compare Your Household Income 2009

Wednesday, January 21st, 2009

Want to know how your family’s combined income stack up against other families? Use the following form to compare your monthly household income: The above tool is based on info recently released by Singapore Department of Statistics. You may also find these other Salary.sg tools useful: Benchmark your annual pay Benchmark your pay by age [...]


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Posted in Income | 63 Comments »

Million Dollar Civil Servant Censured in Parliament

Monday, January 19th, 2009

Minister in charge of civil service, Teo Chee Hean, censured Tan Yong Soon in parliament for his boastful article (see perm sec flaunts wealth), saying it “showed a lack of sensitivity and was ill-judged.” “The Head of Civil Service has spoken to Mr Tan about this to make these points, and asked Mr Tan to [...]

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Posted in Other Money Matters | 21 Comments »

Economy in such Bad Shape that Our $250 Billion Reserves may be Tapped

Sunday, January 18th, 2009

It will be the first time in history if our reserves are tapped to save Singapore from the rapidly worsening economy. I think it’s a major cause for concern, not because tapping the reserves sets a precedence – our government is well known for setting up safeguards to prevent future abuse – but because our [...]

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Posted in Other Money Matters | 1 Comment »

65,400 Jobless in September, will be Significantly More

Friday, January 16th, 2009

The resident unemployment rate stood at 3.3% last September, according to MOM’s press release. With 65,400 residents unemployed, the jobless rate is the highest since the 3.8% registered in March last year. It seems MOM is still compiling the statistics for the fourth quarter – why is it taking so long when Hong Kong and [...]

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Posted in Jobs | No Comments »

Expect the Worst Recession in Singapore History and Property Will Crash

Wednesday, January 14th, 2009

So says a shocking Citi report on Singapore property. Citi expects our GDP to contract by 2.8% this year, “making it the most severe recession in Singapore history.” As for property prices, the report also says that a crash is imminent (see related article: Property Must Crash). Condominiums in the mid-tier segment is expected to [...]

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Posted in Investment | 25 Comments »

Retire when I am about to Kick Bucket?

Saturday, January 10th, 2009

Same survey, but different headlines. I thought I heard over TV news that two-thirds of those surveyed are NOT willing to work beyond 65 years old. Then, in printed and online news today, the headlines are “Baby boomers are not ready to call it a day” (BT) and “Survey shows 3 in 10 expect to [...]

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Posted in Retirement | 4 Comments »

All signs point to Major Retrenchments, yet Permanent Secretary Flaunts Wealth

Tuesday, January 6th, 2009

The writings are already on the wall. Today newspaper reported a fortnight ago that retrenchments will “go up” after Chinese New Year. In TV news just now, it’s said again that there will be more retrenchments toward the end of this month, with more cuts targeted at white collar workers in the manufacturing sector. Yet, [...]

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Posted in Jobs | 30 Comments »



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