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Yuen Chung Kwong

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singapore Household Net Worth

http://www.temasekreview.com/2010/11/28/record-household-net-worth-in-singapore-is-it-time-to-celebrate/

It is very nice to know that the net worth of Singapore households has been increasing and now total about 1.36 Trillion; however, let's compare it with the wealth controlled by the Singapore government: the assets under the management of Temasek and GIC: 500 Billion; further, this is only a part of the publicly controlled wealth: Finance Ministry, Monetary Authority, Land Transport Authority, HDB, URA, ministry of defense, etc, all control considerable amount of assets. The total must well exceed 1.36 trillion

There is nothing wrong with government being rich of course, but people would like to ask "what's in it for me?" HDB estate upgrading, road construction, new MRT lines... people see them and do appreciate them (even though you might hear just complaints), but if afterwards, houses and cars become more expensive to buy, then "what's in it for me?" starts all over again.

The other issue is: how do I cash in my net worth? realistically, you can cash in only if you sell out and leave; so too much emphasis on the topic might give people ideas that you did not intend to foster..

Favorite Sayings:-

      

 History repeats, first time as tragedy, second time as farce - Marx

 Those who forget their history are condemned to repeat it - Santayana

 Those who remember history are also condemned to repeat it - Yuen

 Oscar Wilde was wrong about cynics knowing price not value; cynics know value is always less than price - Yuen

..
Yuen Chung Kwong