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Old 05-30-2010, 10:19 AM   #10
NEronchik

Join Date
Oct 2005
Posts
404
Senior Member
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I tend to agree with axe. Much of Oz's wealth is still in the very dirt we walk on everyday.

It would seem like the GFC hit badly those countries that dabbled with "creative" financial instruments, got hit the worst. Granted that the banking system is one that makes money when no money exists, , this time they went too far by selling forward a bunch of rotten assets one too many times.

In Singapore, this will hit sooner than later, especially when LKY ups the lorry and the REAL state of Temasek's failure will start percolating to the surface of SG politics.

While Australia is indeed a fundamentally wealthy country, SG on the other hand has just learnt the worst lesson in this GFC; i.e.- when in trouble, just prostitute your sovereign assets and nation interests to any foreigner willing to pay the higher price. This only show the weak will of the politicians to incubate true human capital from within and only taking the short way out, i.e.- Foreign capital injections that raise inflation massively for the locals.

By so doing, locals see their spending power cut, a the side effect of which sees them unwilling to spend, fear job security and taking the safe route (being low profile) than willing to explore and take risks. Extrapolating this to the future, SG will thus become the piggy bank to house assets of the rich, dirty money or otherwise, and while locals can boast of increases in asset value, wealth creation will grind to negligible amounts.

I'm glad I made the choice to come to Oz, where I can pursue a lifestyle of my choice and have time and focus enough to make decisions on investments where I could not afford the time in SG.

Oz has become my centre of "Zen", where I can have an simple life here and manage my modest investments via SG.

I once had a teenage dream of sitting behind an elaborate desk in my study and conversing with my banker in SG, like some high-powered, well heeled billionaire.

I'm no billionaire, but having experienced my banker call me and setting up a video conference that I take on my notebook while on my hands and knees pulling up those $#%^# winter weeds in my garden is a reality I've fulfilled that I know I could never if I stayed in SG.



I do not see any negative signs at all.. I am saying this without refering the statistic figures produced by ABS, AHURI, REIV, RP Data, Housing Associations etc. If you open up the data books, you can double confirm it will be going upwards..
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