Why are Singapore youths no longer drawn to 5Cs?

[covertbriar]

Just the other day, it was reported that a local politician said this:

"In highlighting the mindset of youths today, Dr Maliki said that the Singaporean dream of possessing the 5Cs – cash, car, credit card, condominium and a country card membership – was “in the past” and that millennials are developing their own definition of success.

He added that the youths want to be excited about where they live, work and play, encapsulated by the You Only Live Once (YOLO) attitude."

That got me thinking and I think I’m well qualified to comment on this as part of the generation in between the ones who aspired to have 5Cs and the youths that Dr Maliki had in mind. In fact, by examining my generation, it becomes pretty clear why youths today make the choices they do.

The generation that aspired to have the 5Cs was the generation that grew up in the late 80s/early 90s. This was the generation that experienced the “Asian Miracle” which culminated in the Asian Financial Crisis of ’97.

Why did everyone want the 5Cs?

The reasons why those five objects became aspirational goods is a 90s thing.

Cash is pretty self-explanatory. From time immemorial, more cash has always equalled more wealth. As for cars, they were included in the list simply because cars are expensive in Singapore. It was true in the 90s and it’s true today.

Credit cards were also aspirational goods as qualifying for a credit card used to mean that you had a certain level of income. Condominiums were also a hit not so much because they come with amenities such as tennis courts and swimming pools. It’s more of the fact that in Singapore, almost everyone stays in public housing. Condominiums were a sign that one had escaped the drudgery of public housing.

Lastly, the country club. Country clubs used to be the place to see and be seen. Spending time on the golf course was both a way to do business and a sign that you didn’t need to be stuck behind a desk.

So, why have the 5Cs fallen out of favour?

More at https://www.domainofexperts.com/2018/06/why-are-singapore-youths-no-longer.html

 

[shittypore]

All noe NS for Sinkies, Jobs for FT.

 

[sweetiepie]

my uncle say KNN of course now is different mindset KNN.
he say now cash can easily be borrowed. condo rental is cheaper than some hdb and ft anytime also can rent condo. credit card is worse any ah ter can apply. car do grab also can own a car KNN left lj country club member have or don't have also doesn't make much difference KNN KNN

 

[steffychun]

5 Cs: Cock, Chiobu, Cheebye, Chow Keng, Cannot lah!

 

[maxsanic]

My own observations are that a significant portion of these so called YOLO youths are in fact adult dependents still living off their parents. Some directly pocket cash allowances from their parents while the majority of them receive indirect financial support in the form of housing, daily necessities, childcare services, car, seed capital for starting business, soft loans/grants for life events like marriage, house down payments, further studies etc.

They are able to YOLO not because of really anything unique about them inherently, but mainly due to the fact that the leisurely lifestyle they pursue are to a large extent financed by their parents. One of my younger cousins is a typical example of this arrangement - he's 29, doesn't hold a stable job and prefers to do freelancing on his passion of event photography, lives a very standard YOLO lifestyle of clubbing, frequent travels, fine dinning, takes part in all sorts of "experiences" like MMA, fencing, skydiving, volunteer work in 3rd world places etc.

A quick chat with my uncle (his dad) reveals that the bugger is simply spending whatever he makes from his photography assignments as entertainment allowance. The parents are paying everything else from basic food & shelter to even occasionally helping him with his camera equipment "investment". You ask him about the 5Cs he will surely laugh at the futility and senselessness of such earthly pursuits and peddle to you his YOLO worldview, but cut him off parental support he would be in such hunger that a a job at Macdonald's would be the most sought after experience.

 

[glockman]

My own observations are that a significant portion of these so called YOLO youths are in fact adult dependents still living off their parents. Some directly pocket cash allowances from their parents while the majority of them receive indirect financial support in the form of housing, daily necessities, childcare services, car, seed capital for starting business, soft loans/grants for life events like marriage, house down payments, further studies etc.

They are able to YOLO not because of really anything unique about them inherently, but mainly due to the fact that the leisurely lifestyle they pursue are to a large extent financed by their parents. One of my younger cousins is a typical example of this arrangement - he's 29, doesn't hold a stable job and prefers to do freelancing on his passion of event photography, lives a very standard YOLO lifestyle of clubbing, frequent travels, fine dinning, takes part in all sorts of "experiences" like MMA, fencing, skydiving, volunteer work in 3rd world places etc.

A quick chat with my uncle (his dad) reveals that the bugger is simply spending whatever he makes from his photography assignments as entertainment allowance. The parents are paying everything else from basic food & shelter to even occasionally helping him with his camera equipment "investment". You ask him about the 5Cs he will surely laugh at the futility and senselessness of such earthly pursuits and peddle to you his YOLO worldview, but cut him off parental support he would be in such hunger that a a job at Macdonald's would be the most sought after experience.

This is the fault of parents, giving their kids free passes throughout their lives. As a result, they have bred a strawberry generation of losers who are not embarrassed about being dependent on their parents or have a lack of career achievements. These parents let their love for their children destroy them and they don't know when to stop. Not that they want to. I think some of them even like the idea of providing for their useless children.

 

[frenchbriefs]

I'm a millennial and I agree the 5cs don't appeal to me in the slightest....but I do harbour dreams of becoming a tycoon,billionaire,building an empire or a hyper capitalist beyond most people's wildest dreams.

U see the typical life goals of previous generations of livelihood, survival,marriage, financial stability,and hopefully some level of financial luxury(the 5cs,upper middle class)after ten or twenty years of grinding do not appeal to us.......working a typical mundane stable job 9 to 5 earning 20k to 40k a year is not appealing to us....money is easy to earn nowadays,attaining a middle class standard of living is not that hard....it's just boring and mundane, what appeals to us are goals that appeals to our ego,interests,deep purpose,intellect or yoloism.....if I'm going out to work,it's not because I'm working for a paycheck every month,it's only the first step to me building a company and attaining millionaire,decamillionaire or centimillionaire status,and building a corporate behemoth machine that can change the world be it thru philanthropy,medical research or space exploration.the Weyland corporation.

This is the 21st century we already have every modern comfort u can dream of at a tiny fraction of the price thanks to technology,if all u really need in life is 3 meals and a bed to sleep in,why not spend ur energy on things that really matter?ur small personal dreams or whatever.thanks to technology we are not really that poor anymore,we have attained a level of comfort even the working class,that even the pharoahs of Egypt's 3000 years ago can only dream of....air conditioning,toilets,escooters,internet,netflix,$300 plane tickets to Melbourne whenever u want.no longer we have to tool the fields all day long so we don't starve in winter,obesity in Singapore is prolific now.

Mankind is so productive and efficient now,that we work so we can buy more endless junk from Walmart and IKEA?we spend 200k on a car instead of allocating that resource to more meaningful stuff?

 

[no_faith]

What a joke lol
Look at cars on road
Look at the condo built
Look at the credit debts

I think he has falled out of the society

 

[zhihau]

What a joke lol

bro,
go easy on Pinkie, Kim & Trump are coming to town, very important decisions to make, you know?

 

[eatshitndie]

sinkies kena kongtau from 6.9 k's (see my signature).

 

[batman1]

The fad now is 4G...4G leader,4G mobile phone...

 

[glockman]

5Cs are a thing of the past. Now it's the 5Bs. Bank account (not credit card), Bungalow (not condo), be own Boss (not career), BMW (not just any car), can't remember the last one. Up to you to fill in.

 

[no_faith]

bro,
go easy on Pinkie, Kim & Trump are coming to town, very important decisions to make, you know?

"Santa claus is coming to town"
I thought xmas already

 

[no_faith]

5Cs are a thing of the past. Now it's the 5Bs. Bank account (not credit card), Bungalow (not condo), be own Boss (not career), BMW (not just any car), can't remember the last one. Up to you to fill in.

5B
Bo card
Bo condo
Bo career
Bo car
Bo cuntry club

 

[glockman]

5B
Bo card
Bo condo
Bo career
Bo car
Bo cuntry club

good one

 

[micromachine]

I'm a millennial and I agree the 5cs don't appeal to me in the slightest....but I do harbour dreams of becoming a tycoon,billionaire,building an empire or a hyper capitalist beyond most people's wildest dreams.

U see the typical life goals of previous generations of livelihood, survival,marriage, financial stability,and hopefully some level of financial luxury(the 5cs,upper middle class)after ten or twenty years of grinding do not appeal to us.......working a typical mundane stable job 9 to 5 earning 20k to 40k a year is not appealing to us....money is easy to earn nowadays,attaining a middle class standard of living is not that hard....it's just boring and mundane, what appeals to us are goals that appeals to our ego,interests,deep purpose,intellect or yoloism.....if I'm going out to work,it's not because I'm working for a paycheck every month,it's only the first step to me building a company and attaining millionaire,decamillionaire or centimillionaire status,and building a corporate behemoth machine that can change the world be it thru philanthropy,medical research or space exploration.the Weyland corporation.

This is the 21st century we already have every modern comfort u can dream of at a tiny fraction of the price thanks to technology,if all u really need in life is 3 meals and a bed to sleep in,why not spend ur energy on things that really matter?ur small personal dreams or whatever.thanks to technology we are not really that poor anymore,we have attained a level of comfort even the working class,that even the pharoahs of Egypt's 3000 years ago can only dream of....air conditioning,toilets,escooters,internet,netflix,$300 plane tickets to Melbourne whenever u want.no longer we have to tool the fields all day long so we don't starve in winter,obesity in Singapore is prolific now.

Mankind is so productive and efficient now,that we work so we can buy more endless junk from Walmart and IKEA?we spend 200k on a car instead of allocating that resource to more meaningful stuff?

by selling briefs? :p:p:p:p:p

 

[Truth_Hurts]

Says who that they are not drawn to the 5cs?

 

[micromachine]

sinkie GCPs are drawn to cash, credit card, condo, car and cock?