How much is 100 billion?

[Yewheng]

  On 5/29/2020 at 11:18 PM, Dadiao said:

Think another approach would be to prepare $100B as loans, with some lower-than market interest. End-of-the-day, probably minimal loan is required, and earn some extra interests like what the US government did

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Mai la.. Better don't follow what America did.. Its a disaster.. If singapore follow us government did = gg man.. 

[Scion]

well, as in 2020, Apple has 200b cash reserve, and Buffet has 125b cash in hand

that are how much money hoarded by the rich people/companies nowadays

their cash are much more than many third world countries

[Showster]

Many people ask, how come I only have a few hundred dollars out of $28,000 or more?

Think about how many people are not working in this half year and still got paid. At least some 70-80%.

Every month of zero productivity and still get paid equals someone sponsoring you the salary for free. I believe Govt is paying 50-75% of salary up to $4,600 for most / all sectors so it equates to $2,300 to $3,000 every month for six months. Easily 15,000 to $18,000 per pax.

Then another huge sum is needed to book all the huge venues and support the migrant workers.

[Voodooman]

  On 5/29/2020 at 10:00 PM, Calinlin said:

I don't know how it works- all I know is that I only got $600 out of the $28,000. 

And I am working even harder from home and producing even more than usual.

Same for my wife, father, mother...and my daughter got $0.

So, some one probably got the remaining $125,000ish.

I also believe businesses come and go and I don't believe in saving businesses that lose money. I tend to think of them as being irrelevant for the moment. And any time demand comes back, those that closed will come back, maybe with a different owner and proposition.

Maybe I am dumb and thinking wrongly, but to me, the jobs we are "saving", these people don't get much in wage subsidy anyway, at least not to extend of 28,000. And it might have been cheaper to just have them lose their job, pay their salary for 3 months, and look for a new job for them after CB is over. That will be referring to service/entry jobs which comes and goes anyway. We will always need waiter, just not always at the same restaurant. 

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Just sharing what I read a few months ago.

If you allow wide swathes of business to fail, even the big and healthy ones may not survive (bankrupt companies don’t pay their bills). More bankruptcy, more job losses and consumption grounds to a halt, more business failing.  A cycle.

It takes time to accumulate capital, to start a business. As most contractors / suppliers would have also failed, who is going to supply equipment and do your renovation? After Covid is over, you can't just snap your fingers and bring back all the jobs.  An economy coming out of such sudden stop (seen in wars) is said to take years to recover. 

Not I say one.

 

[Windwaver]

How I wish I'm drawing million $$ salary like her, no need to think so hard 

 

[Wind30]

Look at the number of deaths in Singapore residents. There are thousand dying every months... how many from covid? How many from heart disease?

saving lives blah blah blah... how many billions do we spent on healthy lifestyles???

to me the lock down is crazy. 
Two months ago they say if cases spike, we will have lots of deaths , hospital overwhelmed. 
well the cases spiked... nothing happened 

[Yeobt]

  On 5/29/2020 at 1:54 PM, Philipkee said:

I have a simpler story.

Money moves in a circle.

In this particular town, the bus fares for the feeder bus cost $5 per trip for the passenger.  Because of the high fares, bus drivers could be paid $5k monthly.  Because bus drivers are paid $5k monthly, they can afford to eat $10 chicken rice per meal.  Because the bus drivers are eating $10 chicken rice meals, the chicken rice seller earns $10k a month on a regular month.  And because the chicken rice seller earns $10 a month, he can afford to take the feeder bus that costs $5 per trip.  The end.

Lesson of story.  You pay more so that someone can earn more so that he can pay you more so that you can pay more.  

Point of story.  Money goes in a circle.  You pay more so that someone can earn more so that he can pay you more so that you can pay more. 

If for some reason you are paying more but not earning more, like the chicken rice seller is paying $5 per trip but the bus driver doesn't earn $5k but $2k a month and hence care rarely afford the $10 chicken rice and hence lowers the income of  the chicken rice seller who still has to pay $5 per feeder bus trip, someone is hoarding the money.

If the $100 billion dollars does not improve the economy, while one might say the money is insufficient or not well utilised by the ordinary commoners, one also needs to check if anyone is getting much richer and find how he or she is doing it.

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I think for our money will flow out of our country to Malaysia, Philippines, China and etc...

I saw snake line everytime I walk passed the Western Union. 

[Philipkee]

  On 5/30/2020 at 3:45 AM, Yeobt said:

I think for our money will flow out of our country to Malaysia, Philippines, China and etc...

I saw snake line everytime I walk passed the Western Union. 

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I wonder if it's possible to instead of giving cash, give vouchers instead.  Something like safra vouchers but this time just call it "Fortitude" voucher or whatever.  The vouchers can be worth $600 and collected when one is collecting the masks from the RC (so you need to verify IC).  The vouchers will be legal tender in singapore with exceptions for banks, money changers, western union etc so it cannot be saved but must be spent and only within Singapore.  You can give a validity period for the voucher to be used within 6 months.   Maybe that will boost the economy more and stimulate spending.

[Soya]

  On 5/30/2020 at 3:26 AM, Wind30 said:

Look at the number of deaths in Singapore residents. There are thousand dying every months... how many from covid? How many from heart disease?

saving lives blah blah blah... how many billions do we spent on healthy lifestyles???

to me the lock down is crazy. 
Two months ago they say if cases spike, we will have lots of deaths , hospital overwhelmed. 
well the cases spiked... nothing happened 

 

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That's why better to quickly get GE over n done wif. They will get their 'mandate' n can get on w business. Can't be digging into taxpayer piggy bank indefinitely to keep this going

[BabyBlade]

  On 5/29/2020 at 7:46 AM, Genes said:

By some accounts, 50 years very fast one

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50 years is how often we experience ponding in Singapore.

[BabyBlade]

I don't even know how many zero in 100 billion. 

[Atonchia]

Actually the more given out 

The more scared I get. 

After GE will claw everything back. 

So urgent to have GE, GST increase definitely in 2021😭

Other form of taxes/excise probably gotta increase too. 

Cost of living sure increase a lot. 

[Jamesc]

I wonder how much it would cost to test everyone?

If everyone was tested and we let all the people who don't have corona work as normal, wouldn't that be better?

I don't think testing everyone will cost 100 billions right?

[Thaiyotakamli]

$100 billion is about 12 MBS worth, akin to building half macau

[Acewin]

  On 5/30/2020 at 9:32 AM, Atonchia said:

Actually the more given out 

The more scared I get. 

After GE will claw everything back. 

So urgent to have GE, GST increase definitely in 2021😭

Other form of taxes/excise probably gotta increase too. 

Cost of living sure increase a lot. 

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The saying of giving you a chicken wing and later asking back a whole chicken theory. Jialat next year after erection sure everything increase.

[Showster]

  On 5/30/2020 at 9:46 AM, Jamesc said:

I wonder how much it would cost to test everyone?

If everyone was tested and we let all the people who don't have corona work as normal, wouldn't that be better?

I don't think testing everyone will cost 100 billions right?

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There is a long time lag to test whole population. It will fail.

[Lala81]

  On 5/30/2020 at 9:46 AM, Jamesc said:

I wonder how much it would cost to test everyone?

If everyone was tested and we let all the people who don't have corona work as normal, wouldn't that be better?

I don't think testing everyone will cost 100 billions right?

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No point. Cos the actual numbers who got it and are Asymptomatic is very low in Sg. Govt already did random sampling liao. Even among relatives of those covid pts, the numbers are super low. 

This is not like UK, NYC or Madrid. They can't reach anywhere close to herd immunity even though they had thousands of death.

U flatten the curve but everyone is still vulnerable. 

Edited May 30, 2020 by Lala81

[golden_eagle]

  On 5/30/2020 at 3:26 AM, Wind30 said:

Look at the number of deaths in Singapore residents. There are thousand dying every months... how many from covid? How many from heart disease?

saving lives blah blah blah... how many billions do we spent on healthy lifestyles???

to me the lock down is crazy. 
Two months ago they say if cases spike, we will have lots of deaths , hospital overwhelmed. 
well the cases spiked... nothing happened 

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Hindsight. 🙂