Get out of debts

[nutbush]

nowadays, inorder to get mortgage from hdb or banks, they will do background check on your debts, see if you owe any credit cards and so on. private property requires 40% downpayment...it only benefit those with high income. sinkieland is really a playground for the richy rich...

Using cash is a good idea but wait, indirectly you are pumping more money into CPF, which is irreversible and taking into account the minimum sum which increases yearly. And with the recent high cost of a new HDB flat, who would have the ready cash to purchase one?

 

[Runifyouhaveto]

Using cash is a good idea but wait, indirectly you are pumping more money into CPF, which is irreversible and taking into account the minimum sum which increases yearly. And with the recent high cost of a new HDB flat, who would have the ready cash to purchase one?

yes, it depends on the financial muscle of individuals.

 

[Runifyouhaveto]

nowadays, inorder to get mortgage from hdb or banks, they will do background check on your debts, see if you owe any credit cards and so on. private property requires 40% downpayment...it only benefit those with high income. sinkieland is really a playground for the richy rich...

Yes, i also read about such things two days ago.

Ms Christine Li, the head of research and consultancy at OrangeTee, told The Straits Times that only 12 potential buyers out of 80 were able to get their full desired loans for a property project launched last year
http://business.asiaone.com/news/home-loans-harder-get-tighter-rules

 

[TracyTan866]

still believe in simple logic:
income - (savings + investments) = expenditure
don't spend more than what you earn. can't go wrong that much, try it

excellent philosophy

 

[zhihau]

excellent philosophy

thank you very much

 

[Muthukali]

yes, it depends on the financial muscle of individuals.

ya, so mostly ended up in debt with the 2.6 loan and 2.5 accrued i/r on the day of purchase and slog like cow throughout their lives. but then again, let's be fair, you have a choice, buy or not to buy and there is always other alternatives way of investment too.

 

[Thick Face Black Heart]

excellent philosophy

Dear,

That is an accounting identity.

But yes, it is also an excellent philosophy for those who are not awake yet.

 

[Thick Face Black Heart]

I am sorry, was this the TS's point? he hasn't even heard of Keynes. And by the way, there is nothing wrong with Keynesian economics. The theory is sound and proven. where it fails is in the end game because governments do not have the will nor discipline to run surpluses during the upswing and pay down the debt incurred. Governments who continue austerity measures in order to run surpluses in order to use the surpluses to pay down earlier incurred debt are voted out by citizens who want to have the services and freebies now that the economy has improved. this is the fault of the democratic system and not keynesian economics.

It is the nature of people to vote themselves benefits. It is up to governments to control the debt levels during the downturn and to aggressively pare it down during upturns. The past 50 years of debt accumulation, also known as the Debt Supercycle after the Bank Credit Analyst coined the term in the 1990s, is the result of governments using Keynesian economic theory to pander to big businesses and avoid the pain of economic restructuring. We will all be paying the price, especially the younger generation, in the coming decades.

I'm not disagreeing with you about the core theory of Keynes. Just disillusioned.

 

[Runifyouhaveto]

And all because of Keynesian economics. Or rather to be fair, the implementation of Keynesian economic theory by modern central bankers who are fucking beholden to the banking cartel. I'm sure Lord keynes himself did not envisage his theory to be used in this fashion.

We will all be paying the price, especially the younger generation, in the coming decades.

Yes sir, debt is emotive, things can go wrong when we are deep in the m&d. Like you say, the original intention was good but it ended up being frauded by Satanists to pave the way to hell. If debt is slavery, interest is the chain.