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Inflation caused ALL prices to rise again, including Food

Wt_know

By Wt_know,
in Lite & EZ

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Windwaver

Windwaver

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2 minutes ago, Voodooman said:

Then up another 10-20% when gst goes up 2%.

Big boss say no worries

https://www.straitstimes.com/singapore/politics/gst-offset-package-can-cover-about-10-times-cost-of-tax-hike-for-some-lawrence-wong

GST offset package can cover about 10 times cost of tax hike for some: Lawrence Wong

yu_gstretail0902.jpg?VersionId=1zL2zUnzQ

That 10 times thingy is interesting.

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Wt_know

Wt_know

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(edited)
15 minutes ago, Windwaver said:

Big boss say no worries

https://www.straitstimes.com/singapore/politics/gst-offset-package-can-cover-about-10-times-cost-of-tax-hike-for-some-lawrence-wong

GST offset package can cover about 10 times cost of tax hike for some: Lawrence Wong

That 10 times thingy is interesting.

must frame this article liao 

if I spent $1,000 ... i will get $10,000 back?  :yuush:

Edited by Wt_know
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Throttle2

Throttle2

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29 minutes ago, Wt_know said:

must frame this article liao 

if I spent $1,000 ... i will get $10,000 back?  :yuush:

Hmmmm, if you spend $1k, gst is $70, means you cn get $700 back lah

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Throttle2

Throttle2

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Just now, Throttle2 said:

Hmmmm, if you spend $1k, gst is $70, means you cn get $700 back lah

Or rather with increase gst it will be $90 and you can get $900 back

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Wt_know

Wt_know

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22 minutes ago, Throttle2 said:

Or rather with increase gst it will be $90 and you can get $900 back

swee .... definitely can get 2 lolie liao .... [laugh] 

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Voodooman

Voodooman

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On 2/13/2022 at 1:52 PM, Throttle2 said:

Or rather with increase gst it will be $90 and you can get $900 back

Assuming 2% increase in gst and 5% inflation.

You pay $90 gst and get back $900?  But Your $90,000 saving becomes $85,500, you lose $4,500.

Will get 5% pay increment? Lol

 

 

 

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Wt_know

Wt_know

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2 minutes ago, Voodooman said:

Assuming 2% increase in gst and 5% inflation.

You pay $90 gst and get back $900?  But Your $90,000 saving becomes $85,500, you lose $4,500.

Will get 5% pay increment? Lol

youtube sexpert said if 2022 you no get 5% salary increase ... literally means pay cut liao

better RESIGN and throw letter to fry boss sotong ... [laugh] 

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inlinesix

inlinesix

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(edited)
1 minute ago, Wt_know said:

youtube sexpert said if 2022 you no get 5% salary increase ... literally means pay cut liao

better RESIGN and throw letter to fry boss sotong ... [laugh] 

Must make sure next job is 20% higher

Otherwise LPPL

😂

Edited by inlinesix
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Throttle2

Throttle2

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5 minutes ago, Voodooman said:

Assuming 2% increase in gst and 5% inflation.

You pay $90 gst and get back $900?  But Your $90,000 saving becomes $85,500, you lose $4,500.

Will get 5% pay increment? Lol

 

 

 

@Wt_knowsay one, i just corrected his calculation only.   Wahahahaha

shiok ah, in the end we still get 5% ?.  My maths only o level not phd, and i cant calculate petrol pricing, but i guess you and i pay taxes until nose bleed already, this king of “savings” if any at all, dont make a diff. 

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Stratovarius

Stratovarius

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44 minutes ago, Wt_know said:

youtube sexpert said if 2022 you no get 5% salary increase ... literally means pay cut liao

better RESIGN and throw letter to fry boss sotong ... [laugh] 

Ya. i was telling my friends also. Actually needs more than 5%. 1.03X1.02 = 1.0506%🤣

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Beregond

Beregond

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(edited)

https://www.channelnewsasia.com/commentary/inflation-taxes-rising-costs-living-supply-chains-singapore-budget-2022-2492451?cid=FBcna&fbclid=IwAR2y0yYzBN1evnGHQHxE7UaNU4qOi-WRSCw2GsMOx6Ai12w1Zh2clUzCHp8

ommentary: Why is this inflation so hard to control?

On a year-on-year basis, Singapore’s headline inflation increased to 4 per cent in December 2021 - a near nine-year high.

INFLATION DRIVEN BY BIG STIMULUS PACKAGES

The inflation experienced by Singapore is a global phenomenon. Prices are rising all over the world. In the United States, the Consumer Price Index increased by 7 per cent in December 2021 on a year-on-year basis. In Europe, the inflation rate rose to 5 per cent during the same time.

Most of this global inflation can be attributed to the recent expansionary fiscal and monetary policies brought about by governments and central banks worldwide.

Here in Singapore, the Government committed close to S$100 billion through five Budgets in financial year 2020, culminating in its largest budget deficit since independence, with some relief set aside in 2021 to tide businesses and workers over the Delta wave.

Moreover, monetary policy was highly accommodative worldwide. Interest rates were kept nearly zero or negative in many countries (such as Switzerland and Denmark). Central banks embarked on quantitative easing as they purchased huge amounts of debt securities to prevent deep recessions.

Consequently, households and firms were incentivised to borrow freely and invest in assets globally. As Singapore is a world-interest rate taker that chooses to use exchange rate as the target of monetary policy, the interest rate in Singapore has been kept extremely low.

With so much money and liquidity flowing worldwide, investors are searching aggressively for good yields and income globally. This has led to huge capital inflows in many countries. As a major regional asset management hub, Singapore experienced an increase in capital and investment. Singapore attracted S$11.8 billion in fixed asset investments in 2021 and S$17.2 billion in 2020 at a 12-year high.

It is hence no surprise that real and financial assets such as property and equities in Singapore have seen a surge in demand by both local and foreign investors, and consequently, an increase in prices.

In 2021, Singapore’s private home prices increased by 10.6 per cent and HDB resale prices increased by 12.7 per cent. The Straits Times Index (STI) enjoyed a total return of 13.6 percent.

Sales of shophouses also rose to an all-time high of S$1.9 billion, with freehold shophouses seeing a rise in the average unit price by 19.6 per cent year-on-year. Through their impact on rents, this will have a domino effect on other aspects of the economy.

So If the inflation are driven by the money pump in by gov worldwide. Once these money are used up, are we going to see price crashing down or dropping back to norm? If if dun drop, and yet at the same time gov stop pumping in money?? 

Edited by Beregond
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