REACH 404 - What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

(SK)

17 Oct 2022 (10am - 7pm)

REACH

[9:47 am, 17/10/2022] +REACH: Dear Contributors,

Welcome back! 😊

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The topic will be posted shortly.

Thank you

Megan 😊

[10:00 am, 17/10/2022] +REACH: 📢 *Topic * 📢

Cash payouts, more Community Development Council (CDC) vouchers and public transport subsidies are among the relief measures announced on Friday in a new $1.5 billion support package to combat the rising cost of living due to inflation.

💬 What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

Here are five things to note from the latest package:

📌 1. Up to $500 Cost-of-Living Special Payment

Cash of up to $500 will be given out to 2.5 million eligible adult Singaporeans in December 2022. This is on top of the up to $200 cash that adult Singaporeans will get in December from the GST Assurance Package. 

📌 2. Additional $100 CDC vouchers

An additional $100 in CDC vouchers will be distributed to every Singaporean household in January 2023. This will be on top of the $200 in vouchers announced in Budget 2022, to be also distributed in January. A second round of $200 in vouchers, also announced in Budget 2022, will be distributed in 2024.

📌 3. Public transport subsidies

There will be an additional subsidy of about $200 million in 2023 to cover the 10.6 percentage point fare increase that will be carried over to future fare review exercises.

📌*4. Public transport vouchers *

A total of 600,000 public transport vouchers will be made available to resident households with a monthly household income per person of not more than $1,600.

Each voucher is worth $30 and can be used to top up fare cards or buy monthly travel or concession passes. This is meant to provide additional support to lower- and lower-middle-income households.

📌 5. Enhanced education financial assistance schemes and bursaries

The income eligibility threshold for the Ministry of Education's (MOE) financial assistance schemes will be raised to defray school expenses for more students. This will take effect from Jan 1, 2023, for primary, secondary and pre-university students and from the 2023 academic year for those on government bursaries for post-secondary education institutions.

👉https://www.straitstimes.com/singapore/5-help-measures-in-octobers-15b-support-package

👉https://www.channelnewsasia.com/singapore/how-s15b-support-package-aims-help-singaporeans-cope-rising-cost-living-3007646

[10:56 am, 17/10/2022] +REACH: Dear Contributors

We want to HEAR from you!

💬 *What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? *

We have had good feedback and hope that we can keep the discussion robust and active!

Megan 😊

-----

[11:02 am, 17/10/2022] +Ah Heng: In general ground always happy to see money coming in, there are bound to have some !@#$  as well

[11:03 am, 17/10/2022] +Ah Heng: given the pending economy storm, is worrying if the ground keep thinking govt will always give hand out cos whatever comes out will need t pay back also

[11:04 am, 17/10/2022] +Ah Heng: these few years already govt help alot .....

[11:37 am, 17/10/2022] +Smiley face: $10.70

[11:37 am, 17/10/2022] +Smiley face: $14.80

[11:37 am, 17/10/2022] +Smiley face: $13.60

[11:38 am, 17/10/2022] +Smiley face: Welcome back, all chickens!

[0:21 pm, 17/10/2022] +JkL: I was wondering why now we have more sources then before shouldn't the prices drop or maintain?

[0:21 pm, 17/10/2022] +Rama: 👍👌😃😁😆

[0:22 pm, 17/10/2022] +Rama: Takes time and volume fir prices to drop

[0:23 pm, 17/10/2022] +JkL: We are seeing almost 100% increase compared last year

[0:23 pm, 17/10/2022] +JkL: Really too much

[0:30 pm, 17/10/2022] ☸️  Danny 心: 

This is the global structural problem - supply chain disruption, geopolitical tension, global climate - that trigger global inflation.

[0:34 pm, 17/10/2022] +Smiley face: Good morning Andrew...full of emojis...

First happiness, the chickens are on the shelf, next will be...prices coming down?

[0:37 pm, 17/10/2022] +Smiley face: Hi Danni, yupp!

No corn (shortage) means lesser chickens.

No fertiliser (shortage) means lesser corns.

Unless the chickens eating man-made corn?

How about pigs?

[0:41 pm, 17/10/2022] +Smiley face: One highly abstract concept, no even the Chinese supercomputer can derives the ultimate answer aka solution!

The following is a simple abstract modelling to share with everyone given the baby step of the discovery of "quantum entanglement theory".

Here it goes...

[0:43 pm, 17/10/2022] +Smiley face: June 23, 2022

https://en.wikipedia.org/wiki/Quantum_entanglement

How about this?

It is an amplification, intensity and frequency distributed within each atom or in relation to the next and or a grouping of atoms? What if a big bang (a light-speed blip) happens, what are the measurements of this atom(s), intensity, form & shape (distorted or intact and/or a continuum)? 

Universal & Dimensionals:

The Human eyes see up to 3 dimensional space. Distance and or between two objects is measurable and is a human natural ability in this 3 dimension space. Time dies and in non-existence! The naked eyes CANNOT see beyond the multiples of cubic!

What if the universe is a multi dimensional space and each dimension itself is multi dimensional. Distance & Time is no…

[0:53 pm, 17/10/2022] +65 9880 7258: It's certainly a very good gesture by the government to help offset the cost of living.

Costs rising is inevitable due to the macro environment, perhaps within the country we can relook at how to reduce expenses. 

Would more days WFH help with reducing cost of commute, petrol and dining out?

[1:11 pm, 17/10/2022] +Smiley face: Dated: 11 September, 2022

"The dynamics of Devaluation, it is a spectrum of endings from the beginning of one means!"

- - annoymous

Latest scenarios (17/10/22)?

These chaotic and nervous days, many people are looking for ways out of the impending hot soup, this bigger Macro that is melting down? 

If 0 is the mightest then 9 is not the biggest of all sequence of numbers starts from 0 to 9!  Each number correlates to the next or before and the entire streaming of numbers towards infinity! It is not merely 0 to 9, that simplistic! Only handful of folks will see the entire 'picture' of tangibles and the unintended outcomes!

Apply this 'simple formula' into yourself, your business/career or your country?

Bonds is the mother of all economics Bomb and Values is the Shell(ings)...!"

- - annoymous 

Main:

What is Currency (Money)?

Besides an intermediary for trades and exchanges in return for tangibles or intangibles. Another way looking at it, is the presence or current or immediate future (the day itself after tomorrows)?

The status of a Currency is either strong, or moderate or  weak (it doesn't matter)?

In a highly unusual and volatility condition, one's strength doesn't means one will be the stronger(est) in this highly uncertain timeline. Likewise, one's weak doesn't means one will be compromised! 

If one ranks and positions one's money against all MONIES, it is wiser to be 'floating than sinking' and be 'highly flexible' along the mid-range (4 or 5) of this volatility index, this case is currencies and the number position STARTS from 0 to 9!

Is a game (many don't see it...)! The key is be constantly observing the trends of volatile and variables (multiple externalities & internally) clashing and at times in sync or otherwise (linear mode, or inverse mode, or divert mode). Let's play it smarter, safer and never thinking to 'out-play' or it will be game over aka 'played-out'!

Afterwords:

How about applying to subsidy and other social/economics/political interventions? How to "craft"(more than calibration) it so that one stays ahead and in a state of actions with the least disruptions? 

"You look at me, I look at you" attitude?

Many ordinary people cannot 'see through the multiple dimensions' of the natural callings order. Just like reading a book, the text in the book is like a movie in play; watching the movie forward or backward or turning to the focus of the book, and move on to another book! Only a handful of people can 'see' it through (so what if one is a PhD?)!

        - - 'thinking' - -

[1:21 pm, 17/10/2022] ☸️  Danny 心: 

Inflationary Pressure

1. Let us look at the inflation rate as per the statistics - it is 7.5% in Aug 2022 as compared to an average 2.5% in Sep 2021.

2. Hence a whopping 5% increase in inflation - a very nasty price hike - that take a toll on the household and individual at large.

3. The salary increase in 2022 is about 3.5% - unable to catch up with the inflation rate for the working people.

4. For retirees with passive income, on average the interest rate is about 3.2% - also unable to catch up with the inflation rate.

The increasing interest rate will also have a impact on:-

a. Household that borrow loans to finance their housing especially for young couples.

b. Increase business cost to borrow bank loan for growth or to finance their operating expenses.

5. Hence the global inflation hike - which likely to be sticky for at least a year or more - is the most dreadful economic crisis threatening us and the Global Economy.

I feel that it is more difficult economic problem to solve - as compared to recession (in which in a life time we faced it a few time) - that can be resolved by public spendings, attract investment, improve trade and spur cosumer spendings.

But this high inflation - are due to multiple compounded structural global issues - that trigger a persistent global inflation - which is quite difficult to solve.

[1:23 pm, 17/10/2022] +Cycle Yoga: Improve connectivity within SG by wider pedestrian footpath/cycle-way to reduce burden on public transport & rising cost 

Maintaining basic food cost.

[1:40 pm, 17/10/2022] ☸️  Danny 心: 

Current Support Package

1. The current support package - predominantly targeting at the lower income and middle income ($500 - $300 based on income groups and property ownership) and $100 CDC voucher for each household to cushion the higher food price ----- is a good temporary relief to last the Singaporean household until the end of the year.

2. And also to mention the conservancy charges and U-save relief to help lower income and middle income group - to cushion the high energy prices - certainly is a great help for HDB dwellers.

3. But this is good - provided that Government continue to be able to sustain a budget surplus - whereby the Government maintain a healthy revenue against its expenditure.

4. I feel that Singapore government has done relatively well in our Economy by opening up our economy in the midst of the covid pandemic, geopolitical tension, decoupling, global supply chain disruption, energy price spike and global climate that disrupt food crops supply.

This has attracted :-

a. More Home office investors

b. Global talent

c. First mover in aviation and encourage travel

d. Revenue from Sovereign Fund with shrewd investment

e. Revenue collected from high property prices, car prices etc.

f. Increase in tax collected as economic growth improve

g. Sound tax structure - that enable the government to maintain a healthy fiscal budget without the need to accure debt.

5. Government financial assistance to help the household and individuals can continue over to next year and future years --- provided that Government continue to do well to maintain healthy fiscal budget and financial prudence.

[2:01 pm, 17/10/2022] ☸️  Danny 心: 

Global structural problems

1. But as our Government concentrate on growing our Economy, maintain economic and financial policy - to ensure we continue to grow our GDP, ensure a healthy fiscal budget, grow our Sovereign Fund, help our workers to reap higher wages.

2. Individual and household continue to upskill, upgrade to get higher pay jobs, grow our income - to ensure that our wage growth and income growth surpass the inflation rate?

3. Will the global inflation, finally reach its peak and come down to a more normalised "2 to 2.5% inflation rate" --- in which we have been enjoying for so many years?

4. My take is, it will be a very difficult target to achieved.

We will be very lucky if inflation rate come down to "3 to 4%" and normalised at this rate --- and hopefully our wage growth and income growth can achieved a 4.5% growth every year.

5. The reasons being :-

a. Global financial decoupling, technology decoupling, trade decoupling and investment decoupling - is unravelling trigger by US-China geopolitical tension and competition.

This has tear apart the global supply chain - that utilise the cheapest and cost effective materials, semi-finished goods and tap the entire global market - to produce the most cost effective goods and services.

The world is not tearing up into 2 subtle global supply chain.

We need to place ourselves smartly and shrewdly into the 2 supply chain - to reap good economic benefits.

But this has made our imported goods and services -- more expensive - as we are not reaping the most cost effective economic exchange of labour.

Hence prices of imported goods and services --- will continue to be high --- even if the world can tie over the pandemic disruption and Ukraine war ended.

b. Global climate has make many fertile lands barren - due to flood, drought - and many food crops, animal farms unable to provide food for humans and animals --- which trigger a shortage of food supply, Countries adopt food protectionism by imposing export control --- and our imported food prices shoot up.

6. Hence my take whether in future, can we maintain a lower normalised 2-2.5% inflation rate --- will be a dream.

We may have to live with a higher inflation rate of 3-4% in future years if we are lucky.

This means, Government and our workers and business will have to target for a 4.5% or higher wage growth in future years ---- a very tall target.

[2:01 pm, 17/10/2022] +REACH: 📢 *Topic * 📢

Cash payouts, more Community Development Council (CDC) vouchers and public transport subsidies are among the relief measures announced on Friday in a new $1.5 billion support package to combat the rising cost of living due to inflation.

💬 What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

Here are five things to note from the latest package:

📌 1. Up to $500 Cost-of-Living Special Payment

Cash of up to $500 will be given out to 2.5 million eligible adult Singaporeans in December 2022. This is on top of the up to $200 cash that adult Singaporeans will get in December from the GST Assurance Package.…

[2:23 pm, 17/10/2022] +Smiley face: Hi Danni, somehow you are hitting the homerun... thanks.

An ideal and prudent GDP especially into Q1-3/2023.

Strongly encourage our economies to achieve no more than 3.2% and not hitting 2.8% range. The annualised 2023 growth be at most 3.0%, not comparing Idea is to remain sustainable in a highly unusual and volatile Macro situations. Thank you.

[4:01 pm, 17/10/2022] +REACH: 📢 *Topic * 📢

Cash payouts, more Community Development Council (CDC) vouchers and public transport subsidies are among the relief measures announced on Friday in a new $1.5 billion support package to combat the rising cost of living due to inflation.

💬 What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

Here are five things to note from the latest package:

📌 1. Up to $500 Cost-of-Living Special Payment

Cash of up to $500 will be given out to 2.5 million eligible adult Singaporeans in December 2022. This is on top of the up to $200 cash that adult Singaporeans will get in December from the GST Assurance Package.…

[5:58 pm, 17/10/2022] +REACH: Dear Contributors

We want to HEAR MORE from you!

💬 *What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? *

We have had good feedback and hope that we can keep the discussion robust and active!

Megan 😊

[6:46 pm, 17/10/2022] +REACH: Dear Contributors,

⏰ We will be closing the chat in 15 minutes ⏰

Thank you very much for being part of our WhatsApp chat and participating actively.

Goodnight!

Megan 😊

[6:48 pm, 17/10/2022] ☸️  Danny 心: 

Maybe Singapore Savings Bonds increase investment quota from $200,000 to $300,000.

This is to help Singaporeans to put their savings in SSB to earn higher passive income - to cushion against higher inflation rate for the long term.

[6:57 pm, 17/10/2022] +Rama: What about treasury bills!?

[6:58 pm, 17/10/2022] ☸️  Danny 心: 

Thought t Bill no quota?

[6:58 pm, 17/10/2022] +Rama: Having to compete in a auction for treasury bills while it is easier fir ags bonds

[6:58 pm, 17/10/2022] ☸️  Danny 心: 

I see.

T Bill short term about 6 mths.

[6:59 pm, 17/10/2022] +Smiley face: 17 October, 2022

What more helps?

Perhaps the coming tranch of packages be positioned to the followings:

No later than Feb/23 ($1 b?)

No later than May/23 ($1.5b?)

No later than Sept/23 ($1 b?)

Reservation of up to $2.0b for Q4 as a contingent.

Are vouchers via SingPost or e-vouchers via SingPass a/c or Directly into Bank a/c or All the 3 options?

Which is better, safer and effective & efficient?

(There maybe chances of Quantitative Easing by Fed/ECB/BOJ into 2024-25?)

[6:59 pm, 17/10/2022] +Rama: I saw the alert on 121022 but by the time I went in on the actual day 131022?, all taken up!

[6:59 pm, 17/10/2022] ☸️  Danny 心: 

T Bill is also another good investment instruments.

[6:59 pm, 17/10/2022] +Rama: Or one year too

[7:00 pm, 17/10/2022] ☸️  Danny 心: 

Yes 1 year also got.

[7:00 pm, 17/10/2022] +REACH: Dear Contributors,

We will be closing the chat for today.

Thank you very much for being part of our WhatsApp chat and participating actively.

Goodnight!

Megan 😊

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