my eyes pop out when I saw S'poreans become 4th richest citizens in the world

[AhSo1]

Oct 8, 2010
S'poreans 2nd richest in Asia
By Gabriel Chen

Singapore ranks fourth globally and second in Asia Pacific in terms of average personal wealth. -- ST PHOTO: MUGILAN RAJASEGERAN

SINGAPORE ranks fourth globally and second in Asia Pacific in terms of average personal wealth, according to the inaugural global wealth report by Credit Suisse Research.

Average wealth per adult in Singapore has grown strongly in the last decade, rising from US$105,000 (S$137,100) per adult to over US$250,000 in 2010, supported by a period of strong domestic economic growth and asset price increases.

Singapore's two-fold increase in average wealth per adult has also been accompanied by a 7 per cent slide in average debt.

From a macro perspective, the report finds that the global wealth currently held by 4.4 billion adults has increased 72 per cent since 2000 to reach US$195 trillion.

Stupid lah

The increase based on Singapore dollar into US of A dollar

2000 Exchange rate 1.85
2010 Exchange rate 1.30

Increase most due to US dollar lah wat our ST think we idiot or what?
Damm bloody idiot PAP nonsense now we having more US dollar

 

[hairylee]

....top 20% of population control 80% of the wealth .... PERIOD !!!:(

Yes, they average out.
e.g. LKY fortune divide by 1 million citizens and you get 1 million well to do citizens.

 

[hokkienpeng]

Yes, they average out.
e.g. LKY fortune divide by 1 million citizens and you get 1 million well to do citizens.

That's more or less the idea. Read this:

http://singaporemind.blogspot.com/2010/10/wealth-or-extreme-inequality.html

Even ST pointed out that: "While Singapore's mean wealth of US$255,488 is extremely high, its median wealth is approximately just one-ninth of that, at US$30,092 per adult."

What's really sad is that most S'poreans don't even realize that they are poor — always taking comfort in their HDB flat and CPF.

 

[Watchman]

The whole point is that they don't.

Many S'poreans are unable to believe that there are people here in our country who are far, far wealthier than they could ever imagine. S'pore is ranked highly because of these people.

They are the HNWI and UHNWI, some foreign, some local. The PAP government serves these people, not the commoners. Most of PAP's policies are to preserve and enhance the wealth of these super rich, to cater to their lifestyle needs, and to shield them from the man in the street.

The reason for higher FT PRs requirement now is to bring in
more foreigners who will rub shoulders less with the common
men lest he complains more again to embarrass the ruling party .

 

[RK85]

MSM always presents facts in a positive manner while ignoring other facts.
Nothing surprising except it fails to point out that the average individual wealth is based on the Pareto Principle
in economics or 80-20 % rule.
80% are below that level & it never mention it.

"A chart giving the inequality a visible and comprehensible form, was contained in the United Nations Development Program Report, which showed the distribution of global income to be very uneven, with the richest 20% of the world's population controlling 82.7% of the world's income.

Distribution of world GDP, Quintile of population Income
Richest 20% 82.70%
Second 20% 11.75%
Third 20% 2.30%
Fourth 20% 1.85%
Poorest 20% "

 

[HellAngel]

Either too rich or just plain stupid.

Sgns are the richest in the world. Who else in the world wud pay 80+k for a Toyota Corolla?

A Brooks running shoe in Canada is 29.99 at Wal-Mart. But Sgns gladly pay almost a hundred bucks for it.

Sgns are the richest in the world!!!!

Cheers!

 

[DASHUANGXI]

How can it be? Most of the SG men I know are beggars :p:p:p

 

[po2wq]

How can it be? Most of the SG men I know are beggars :p:p:p

birds of a feather flock 2gether ... :p

 

[DASHUANGXI]

birds of a feather flock 2gether ... :p

Yes, that is why my Indo boyfiend is the best :p:p