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Is financial discipline a personal or government responsibility or both?

scroobal

Alfrescian
Loyal
This question has surfaced in this and other forums in one form or another over the years. What do you think?
 

winnipegjets

Alfrescian (Inf)
Asset
Most people, the majority, are clueless of financial management. The PAP government knows that and have taken advantage of that ignorance. That's why they can sell overpriced flats to sinkees without any protest. People are clueless about retirement savings and how the overpriced flats are making them unable to retire comfortably.

A pension scheme run by the government is the most efficient way to enable people to retire with some financial security. With the size of the pension, the cost of investing is many times lower than the cost to an individual. And the people who are hired to manage the pension funds would have to be top notch.

If the government wants people to be financially discipline, then start teaching them in school. The PAP won't because the current CPF system serves the purpose.
 

mojito

Alfrescian
Loyal
The short answer - both. People ought to be responsible for themselves, and the government has to step in when some groups cannot do so.
 

chootchiew

Alfrescian (Inf)
Asset
This question has surfaced in this and other forums in one form or another over the years. What do you think?

It is the individual that is responsible . But the govt should not deprive the person opportunity for gaining financial independent e.g. allowing FTs to steal jobs or allowing companys to depress wages, this is directly affecting the person financial well beings.
 
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Thick Face Black Heart

Alfrescian (InfP)
Generous Asset
Financial education needs to be beefed up in schools so that people are more savvy when they grow up, and avoid obvious traps such as:

(a) unsecured debt
(b) get-rich-quick scams like MLM (MAS endorses MLM - what the fuck is it doing?)
(c) lack of savings discipline during working life

But financial discipline must lie with citizens themselves. The govt has used the issue of financial discipline to play tricks with our CPF and withhold retirement funds. That's wrong.

The issue of property and car ownership must also be addressed because by forcing people to buy overpriced assets, the govt is in effect forcing poor financial discipline onto citizens. In this case its the govt fucking citizens and then turning around to say we must withhold your retirement funds in order to save you from yourself. Hope people can understand the gross irony.
 
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Leongsam

High Order Twit / Low SES subject
Admin
Asset
The short answer - both. People ought to be responsible for themselves, and the government has to step in when some groups cannot do so.

When some groups are unable to do so, the government should allow nature to take its course. That's how the law of natural selection works to make a species stronger.
 

scroobal

Alfrescian
Loyal
Looks like most believe that it is the responsibility of both and I suppose to what degree who does what is the where the challenge is.

I think one of the first things that we all can agree is that the Govt responsibility is not the provision of a welfare state but to understand and accept the following

1) A financially disciplined individual does not equate to being financially savvy or someone who has a rudimentary understanding of finance. Mere accumulation of savings does not do much when the inflation rates are not factored in.

2) It is the responsibility of the Govt to ensure that the value of money does not depreciate over time. i.e. personal savings losing value

3) The Govt can provide the framework to allow the pooling of funds to achieve scale to provide contingency assistance in times of hardship, misfortune, ill health and old age.

4) Create a regulated climate for safe investment by individuals to take place.

5) To regulate all debt creating activity to ensure that excess and exploitation is limited.
 

Thick Face Black Heart

Alfrescian (InfP)
Generous Asset
Looks like most believe that it is the responsibility of both and I suppose to what degree who does what is the where the challenge is.
.


I think it's more accurate to say that govt must provide sound financial institutions and economic policy, and ample avenues for investment, but the onus is on people to be responsible for themselves. Help is accorded from taxpayer dollars when things befall families that are not their fault like illness or accident. Currently all this is sorely lacking.
 

Bigfuck

Alfrescian (Inf)
Asset
The answer is both which the corrupt Lees do not understand nor care as this place is run as their family business based on pirate port and slave activities. If the people in your country are cheated financially by whichever syndicate or are too financially sloppy, the stability of society collapses and the regime could be overthrown violently with deaths, including the ruling regime. However, Lees do not see it that way as they are fine to roll in the tanks to kill the people as they are always dying to do that and replace with other economic refugees but are held in check by the US who are finding an excuse too. Of course, the cowards the Lees, are, they are prepared to run away if the financial turmoil sets and hope to enjoy the trillion dollar stolen wealth elsewhere while continuing their horse trading business. Problem is if they leave here, their usefulness ends and the reason why US wants seemingly free and open media and info is to fuck smaller dictator fries. US has the critical mass. BTW, if it SGP is dangerously financial unstable, US might also come in to play white knight and fuck off the Lees and put in a more fancy form of control of the people. The US and European debt control imperialism is excellent. Control the current generation by giving them more than they can afford and fuck their grandchildren with debt slavery. Granddaddy enjoying the pleasure now will not give it up but the grandchildren can only helplessly fuck grand daddy in the grave. Model answer to submit to your masters.
 

Bigfuck

Alfrescian (Inf)
Asset
other than government bonds, what else can the government provide for as an investment vehicle?

Too many things. The Reits from the SOEs can be bought into and then used to finance the reverse mortgages for annuities from coffin HDBs. If you seriously want people to be healthy, the annuities can even been convert to healthy food voucher equivalents that are non-transferrable. So if people are given a choice to eat good healthy food and still choose to fuck themselves by selling the foods for monies to eat unhealthy, nevermind. Let them pay the medical bills 10 to 20 times more at least.
 

frenchbriefs

Alfrescian (Inf)
Asset
Fiscal responsibility is just bullshyt so the government can shift the burdens of the state onto the people themselves so they can use the tax coffers to enrich themselves and build white elephants and spurge on vanity projects that are of no use to the citizens.for eg,Kim jong il's tower in the capitol.in Australia u step down as PM for not declaring a $3k bottle of wine gift.in sinkieland u can pay themselves millions and receive discounts on multi million condo deals and get away with it.

Just look at Australians and how well they live,how carefree they are and how great their city is and u know what I mean.in Australia there may be beggars and hobos here and there but these are just the unfortunate few that falls thru the cracks in society,the rest of the population live in general prosperity,they dress eat and live well and party a lot and live for today.how ever in sinkies land the stench of poverty is everywhere,u see masses of sinkies dressed shabbily,having their peasant meals at hawkers,slogging away at their long hours low wage jobs to earn their peanut and living in the stench of HDB slums in poorer in estates.

Australia is proof that a society with extensive socialism and no classes is possible and society does not collapse just because u distribute wealth in a fairer and more equal manner.not having ur entire country spending their entire lives chasing after money and worthless status of wealth means they actually have time for more important things,like music,literature,arts and culture and comedy and what john Lennon said "imagine all the people,living for today...woohooohhohhooo",creating a country with far greater vibrancy and depth than some stupid billion dollar garden or durian shaped amphitheater could.
 

Narong Wongwan

Alfrescian (Inf)
Asset
The sinkie vile govt does not bother or wants to bear any responsibility for most things.
It's only objective is to leech the most money from sinkies in shortest possible time preferably with minimum collateral damage/fallout (heavy casualties acceptable when there is big income oppportunity).
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset
The sinkie vile govt does not bother or wants to bear any responsibility for most things.
It's only objective is to leech the most money from sinkies in shortest possible time preferably with minimum collateral damage/fallout (heavy casualties acceptable when there is big income oppportunity).

You have seen nothing yet! If you want to experience extreme leeching, you need look no further than countries such as OZ and NZ.

The government gets the first bite and taxes a huge chunk of income at source and the money will never be seen again.

When the government has taken the lion's share, the council then takes over with exorbitant rates bill while providing nothing in return.

Whatever is left over is then nibbled away by government bodies such as ACC, Earthquake Commission and what have you plus a convenient "tax" they call "admin charges" which is the bill for the cost of filing all the paperwork which they generated in the first place.

Singaporeans should count their blessings. They don't know how lucky they are.
 

congo9

Alfrescian
Loyal
When some groups are unable to do so, the government should allow nature to take its course. That's how the law of natural selection works to make a species stronger.

Yes, i agree. Let nature take it course.
Maybe try not to shove CPF down on everyone's throat. Natural selection must be applied fairly.
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset
Yes, i agree. Let nature take it course.
Maybe try not to shove CPF down on everyone's throat. Natural selection must be applied fairly.

I have never been a cheerleader for the CPF scheme. It's nanny state stuff.
 
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