The Tale of 2 Leukemia Cases:- The Haves versus the Have nots

[kingrant]

Sam,

Isnt this the case even with private condos with 99 yr leases?

Way before the lease expires, owners can opt for enbloc to sell it away for somebody to redevelop. HDB dwellers have SERS and they have been offered new flats elsewhere if affected by SERS. That's how countries with limited land have to manage to maximise/optimise land use. As the govt has committed to let everybody own a piece of Singapore worth defending, it has to ensure property remains an asset and there is asset enhancement.

At the end of 99 years, your lease runs out and your estate is left with nothing.

 

[kingrant]

Many insurance co's sell critical illness plans that cover 10, 13, 20 illnesses including cancer. I know NTUC Income has one that is the most affordable and pays out without question $100k or $200K depending on which plan you take, on diagnosis of cancer, stroke, etc. That wld have helped the family. Never take bank loans to pay medical bills. Plan ahead.

 

[kingrant]

Scro,

The Health Care systems in US and Canada are based on 70/30 roughly, meaning 70% public funded health care and 30% private. To sustain this, Americans and Canadians pay higher taxes. Here is where the PAP govt has been scoffing at their systems for donkey years. Here the PAP also believes in a system that will pay for itself, but ironically for a party that touted strong socialist leanings in the beginning, its system today is more "capitalistic" than U.S. or Canada. The PAP govt loves to poke fun at other people's systems and blinks no eye in bleeding its citizens to death. Corporate Singapore has already moved far more to the Right whereas the US and Canada have retained their Leftist values in Healthcare.

The issue is that medicine and medical care is joke and money spinner for this govt. This govt has no heart and no soul. First world countries with the notable exception of the US provide full medical care from cradle to the grave. If you are unemployed and your child has cancer, it is fully covered and one of the parents will get allowance for being a carer as well. While else would a country and its leaders aspire to be 1st world. No one has to sell a house to save a child or oneself.

Now the 3rd world. Most countries it will not charge an arm and leg to get medical attention unlike Singapore.

 

[Leongsam]

Sam,

Isnt this the case even with private condos with 99 yr leases?

The issue of "private" condos can fill another chapter of my rantings. The bottom line is that "asset enhancement" benefits only those who cash out early or who speculate and get the timing right.

It's pretty much like life insurance.... the only way to beat the insurance company is to kick the bucket soon after the policy is taken out.

 

[kingrant]

Fortunately, only in Sinkapore, property prices keep on trending up, esp HDB flats. They never drop. In uncertain times, they merely stand still, and then when times boom again, the price goes up.

Mark my words. That $700k HDB flat will be $1 million in 5 years time. That's why there is demand - pple believe price will go north forever, barring war, calamity, etc. Even if PAP falls, price wont fall, they merely move horizontally as nobody wants to sell if price drops.

Look at Marine Parade HDB flats. So old, still strong. Bastards there dont want to sell if buyers cant match their price. There was a time when there was no demand when rumours that buildings erected on marine clay are not safe, but prices didnt go south, just move like a crab sideways.

The issue of "private" condos can fill another chapter of my rantings. The bottom line is that "asset enhancement" benefits only those who cash out early or who speculate and get the timing right.

It's pretty much like life insurance.... the only way to beat the insurance company is to kick the bucket soon after the policy is taken out.

 

[Leongsam]

Fortunately, only in Sinkapore, property prices keep on trending up, esp HDB flats. They never drop. In uncertain times, they merely stand still, and then when times boom again, the price goes up.

You're side tracking. The fact remains that asset enhancement does nothing for those who live in the homes they own. The only choice they have to release some of the money tied up in housing is to downgrade and reduce ones quality of life.... something the old should not be forced to go through in their twilight years.

 

[drifter]

You're side tracking. The fact remains that asset enhancement does nothing for those who live in the homes they own. The only choice they have to release some of the money tied up in housing is to downgrade and reduce ones quality of life.... something the old should not be forced to go through in their twilight years.

wow...you turn into human today ..

 

[ivebert]

HDB policy is great if
1) You have a good education (NUS, SMU and above)
2) You have a stable job
3) You got a chio wife so you don't fuck prostitutes and ruin your family


Otherwise, please look in the mirror and ask yourself what you truly deserve.
You can live in a dog kennel like cooelo does.

 

[Leongsam]

wow...you turn into human today ..

All I'm doing is debating the issue. It doesn't change a thing.

 

[drifter]

All I'm doing is debating the issue. It doesn't change a thing.

somehow , that issue did change you to becomes a better person ...

 

[Leongsam]

somehow , that issue did change you to becomes a better person ...

Which part of "debate" don't you understand you twit?

 

[drifter]

Which part of "debate" don't you understand you twit?

like that sounds more like sam leong ... the last " human post " from you make us very uncomfortable ...

 

[ManBearPig62]

2. " Any chimpanzee can get 2.5% return"? You mean no/very low risk investment get 2.5% in today's context investing in a one-year instrument ? You can say that here, behind a PC, no problem. But don't do it in real life. If you say it in the financial world, people will reckon that the chimpanzee has higher FQ that you!

http://www.nab.com.au/wps/wcm/conne...nce/6/3/nab_article_088716?urid=1302953868118

 

[jw5]

That's true.

Heee hee, isn't savings a loan from you to the bank too?

If you deposit $5000 into UOB, effectively Wee Cho Yaw owes you $5000?

Your savings is exactly what you said, a loan from you to the bank. But you can withdraw anytime you want right?
Don't for a moment think that WCY owes you $5K. It's UOB, the incorporated limited liability company that owes you $5K.

 

[kojakbt]

Bro, good write-up!
Do I have your permission to post it on other sites?

 

[Charlie99]

I agree with you.

I believe that it is immoral of the government and government run hospital to make the patient's parents and next of kin responsible for the hospital's bill for a patient, more so for a deceased patient. The government should simply write-off that bill. The government can afford that.

Whereas Canada's free medicare is an albatross, I believe that Singapore can afford something in between what it charges today, and the free Canadian medicare.

It is all relative. The ruling party continues to emphasize that their candidates for MP, are there to serve, but may have forgotten to implement that honourable citizens who has such a noble objective to serve theor fellow citizens do not need to be paid $2 to $3 million. With respect, perhaps, the President, the Honourable Prime Minister and all the Ministers as well as senior members of the civil service, Administrative Service, Legal Service and judiciary, set a good example, by reducing their annual compensation by one-quarter to one-third.

Sam, you are stating the obvious. Rich people will always get better treatment everywhere because they can buy it. My point is not that BG Yeo should not spend millions on his son, rather its why in prosperous singapore are people losing their homes, life savings, etc. over hospital bills? Who wants to work hard, save money, invest carefully, etc. to see it all lost due to one serious sickness? The example of the Sohs should be a warning to all sinkies that we are all just one illness away from destitution regardless of how well we are doing now. 25 years ago, before hospitals were privatised, this would not have happened. But this money making for profit govt identified public hospitals as money losing propositions and privatised them all.

Also, the optics of the whole situation is really bad. We have a govt. who proclaims to the world that they have the best medical facilties and shamelessly promotes medical tourism, and yet one of their senior officials runs to another country for medical treatment. As it turns out, only tinpot 3rd world dictators like Robert Mugabe, Burmese generals, etc. come to singapore for treatment because they can't get a US visa. If you have such good medical facilities, you should back it up, ask Yeo to stay here for his son's treatment. The difference between Yeo and some other rich people like Khoo, Li-Kashing, Stanley Ho, etc. is that these people are private citizens while Yeo is a public figure. So, it does matter where his son gets his medical treatment. He cannot be held to the same standard as other rich people.

 

[eErotica69]

When forced savings are extorted out of sinkies to pay for goods at artificially inflated prices, it pretty much becomes a tax.

That's how the whole HDB scam works. A unit that costs the govt $40,000 to build is then "sold" for $400,000.(that's with a market subsidy thrown in out of goodwill) However, the purchaser is "allowed" to use his forced savings to pay.

Bottom line?... the govt pockets $360,000 of your money which you'll never see again.

At the end of 99 years, your lease runs out and your estate is left with nothing.

Sam, which part of the Singapore Law says that is mandatory for all CPF account holders to purchase HDB flat?

 

[eErotica69]

http://www.nab.com.au/wps/wcm/conne...nce/6/3/nab_article_088716?urid=1302953868118

The FD is in S$ or for A$?

You heard of this thing called FX risk? CPF is in S$.

 

[Leongsam]

Sam, which part of the Singapore Law says that is mandatory for all CPF account holders to purchase HDB flat?

Why don't you tell me what other options are available to 85% of the population who can't afford private housing.

 

[kingrant]

First lesson in life is to live within yr means from the start, and save for the rainy day.

When you are hit with debt from medical bills. you have to face reality if you havent planned. Downgrading has to be the last option and pride and quality of life shld not get in the way, but rather get real. People whose business fails go thru the same gauntlet. You take uncalculated risks and you dont plan, there is no parachute for soft landing and you bite the bullet.

You're side tracking. The fact remains that asset enhancement does nothing for those who live in the homes they own. The only choice they have to release some of the money tied up in housing is to downgrade and reduce ones quality of life.... something the old should not be forced to go through in their twilight years.