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-   -   How much savings do you have? (https://forums.salary.sg/investments-net-worth/1199-how-much-savings-do-you-have.html)

Khagan 07-04-2011 06:17 PM

Quote:

Originally Posted by Unregistered (Post 11035)
Developed countries should be able to cope much better.

I'm not so sure about that since inhabitants of such countries are much more accustomed to a hi-tech, non-rural lifestyle...


Quote:

Originally Posted by lazyplane (Post 11037)
When US gets dumped, of course, all items priced in USD will shoot up.
But that does not mean the other currencies will not counter react against usd. Meaning USD/SGD will drop significantly as well. Hence SGD/bbl will not see such a great price appreciation impact as USD/bbl.

Once again, what makes you so sure, may I ask?
Why would anyone rather sell USD to buy SGD or any other paper currency, when they can sell USD to buy commodities instead?

If there's hyperinflation, isn't it obvious that commodities, especially oil, gold and food, would be in MUCH higher demand than paper currencies?


Quote:

Originally Posted by lazyplane (Post 11037)
Why is supply limited or No market for commodities ? Supply is disrupted due to supply disruptions like crop failure, war, etc. Not due to collapse of currency.

If there's true hyperinflation, and you own a hundred bags of rice, and you see the price per bag doubling every week for a month, would you sell a single bag at the market price of, say, $80 (assuming the price was at $5 at the start of the month) if there's a high chance that the price would double to $160 a week later, and eventually to over a thousand dollars by the end of the second month?


Quote:

Originally Posted by lazyplane (Post 11037)
Will you work for say 10k per month salary if your food cost is going up to $2 million ? No right ?

Of course I won't be working for worthless pieces of paper! LOL


Quote:

Originally Posted by lazyplane (Post 11037)
You will resign, get a new job that pays $100million etc.

Obviously, I would resign, but what company would be rich enough to make its lowest-ranking employee a billionaire in one month? LOL
Except for the government, which owns a money-printing machine, all companies would go bankrupt or out of business, wouldn't they?


Quote:

Originally Posted by lazyplane (Post 11037)
In short, individuals will rebalance to a new equivalent benchmark to survive.

"new equivalent benchmark"? I wonder what that means, but I'm more sure that CHAOS will be the norm for at least a certain period of time.


Quote:

Originally Posted by lazyplane (Post 11037)
i sense you predict the world is going to die, and we are all going to rot etc. And the way you see it, there is no solution, only to suffer. So if this is your point, then dont do anything right ?

I'm glad you see my point! :)
But as for "dont do anything right?", I'm not sure what answer I should give you because I'm not sure what solution would be best for you or any other person... :(


Quote:

Originally Posted by lazyplane (Post 11037)
Or if you do have a solution, then pls share.

All I can think of now is:

"Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall.
All the king's horses and all the king's men
Couldn't put Humpty together again."

Obviously, I'm implying that Singapore is like "Humpty Dumpty", but actually, the whole world is also like one big "Humpty Dumpty"!
And of course, "king" = government(s), and his "men and horses" = civil servants (or slaves?) and their vehicles.

lazyplane 08-04-2011 11:03 AM

Quote:

Originally Posted by Khagan (Post 11060)

I'm glad you see my point! :)
But as for "dont do anything right?", I'm not sure what answer I should give you because I'm not sure what solution would be best for you or any other person... :(

All I can think of now is:

"Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall.
All the king's horses and all the king's men
Couldn't put Humpty together again."

Obviously, I'm implying that Singapore is like "Humpty Dumpty", but actually, the whole world is also like one big "Humpty Dumpty"!
And of course, "king" = government(s), and his "men and horses" = civil servants (or slaves?) and their vehicles.

Actually, i dont see your point . Ha ha.. sorry, just being honest here.
Cos what you seem to be saying is the world is coming to end... and sorry guys, but there is no solution. Just accept it and be miserable.

Very extreme and negative view leh.. And i am very curious if you really live your life based on this view.

Nevertheless , it was a good discussion !! Love it cos i think your view represents the BLACKEST swan view (And note, not just black but blackest). very very extreme, but if it happens... all die.and all singaporeans better go learn how to do farming or fishing now instead of studying in universities cos singapore got no natural commodities here .... ha ha..

lazyplane 08-04-2011 11:05 AM

One more thing, i really do love your view, cos it fits me.. i am very lazy.. and such a view give me more "encouragement" to be lazier... * YAWN.....

Unregistered 08-04-2011 12:57 PM

Laziness is the start of death......

Khagan 08-04-2011 04:47 PM

Quote:

Originally Posted by lazyplane (Post 11083)
Actually, i dont see your point . Ha ha.. sorry, just being honest here.

Actually, you DO see my point because you understand it!
(if you look up the dictionary, "see" = "understand")
But I think you probably don't AGREE with it because it's too difficult for you to ACCEPT it, right? ;)


Quote:

Originally Posted by lazyplane (Post 11083)
Very extreme and negative view leh.. And i am very curious if you really live your life based on this view.

Obviously, I believe that there's a high chance that hyperinflation will happen in the near future, possibly within my lifetime...
So isn't it obvious that I'm trying to be prepared, at least psychologically, for that period of hyperinflation?
There's nothing wrong with being prepared for the worst, is there?


Quote:

Originally Posted by lazyplane (Post 11083)
all singaporeans better go learn how to do farming or fishing now instead of studying in universities

I think you might like this article and the comments:

TODAYonline | Voices | A farmer's life deserves respect

Have you read it before?


Quote:

Originally Posted by lazyplane (Post 11083)
cos singapore got no natural commodities here .... ha ha..

Actually, contrary to popular belief or government-brainwashing, Singapore HAS natural resources; it just doesn't have enough for 1-2 million residents, let alone 4-5 million!

If you haven't seen this before, you might want to have a look and see how SEVERELY overpopulated Singapore is compared to all the other countries in the world:

List of countries by real population density (based on food growing capacity) - Wikipedia, the free encyclopedia

Singapore is a tropical island-country, so it is rich in fishes and fruits, but it only has 10 kmē of arable land, enough for maybe a hundred thousand people, or 1,000 large extended families of 100 members each spread out around the 700 kmē of land that Singapore has.

10 kmē = 10 x 1km x 1km = 10 x 1,000m x 1,000m = 10,000,000 mē = 1,000 hectares

So if each family is apportioned one hectare of arable land, I think that should be more than enough for it to survive comfortably on...

1 hectare = 100m x 100m

I think that should be enough arable land for a family of 100 people, don't you think?

As for their housing, obviously they would be built OUTSIDE the arable land.


Quote:

Originally Posted by lazyplane (Post 11084)
One more thing, i really do love your view, cos it fits me.. i am very lazy.. and such a view give me more "encouragement" to be lazier... * YAWN.....

Maybe this might give you even more "encouragement":

Nonviolent resistance - Wikipedia, the free encyclopedia

If you were truly "encouraged", you would simply have MORE "courage" to do the right thing, no matter what sacrifices you may have to make... to say the least again! ;)

lazyplane 09-04-2011 12:11 AM

bro my last post on this ... i just want to say u should think a bit more and if u really believe all the stuff u said then show the proof ... saying u r trying to be mentally prepared is like saying u r trying to grow your money by thinking about it only...
put your words to action man... dont just say say like mr clement chiang but dont do... all talk no balls... only bluff naive people...

find help if u can as well. i think i other readers can judge based on previous posts if i have been polite and helpful to clarify your position.

finally we have digress this thread far enough. start a new thread if u still want to talk.

lazyplane 09-04-2011 12:14 AM

Quote:

Originally Posted by Unregistered (Post 11086)
Laziness is the start of death......


yeah but we r already dying each moment.. and it feels so good to be lazy.

Khagan 09-04-2011 03:59 AM

Quote:

Originally Posted by lazyplane (Post 11095)
if u really believe all the stuff u said then show the proof ...

Haven't I given enough proof for my beliefs in my posts?
Unless you mean actual examples of hyperinflation in Singapore NOW?!?!?
Of course, I can't give that kind of proof since hyperinflation has not happened here yet.
Besides, a belief is based on faith, not on "proof".
Just like you believe hyperinflation will not happen, I believe the opposite! ;)

Quote:

Originally Posted by lazyplane (Post 11095)
saying u r trying to be mentally prepared is like saying u r trying to grow your money by thinking about it only...

I think maybe now I'm beginning to agree with you that you DON'T see my point! LOL
Because I'm obviously not trying to prepare myself mentally by "growing money", let alone growing money "by thinking about it only".
Being prepared mentally/psychologically does not mean being prepared "financially/monetarily".
Besides, it's NOT possible to be prepared financially/monetarily for hyperinflation because when it happens, paper money will become WORTHLESS, so what's the use of having whatever amounts of paper money?
What I'm psychologically preparing myself for is the actual SUFFERING that will result in Singapore if hyperinflation happens, so that I don't panic, even if there's a famine and I have no choice but to prepare to die of starvation.


Quote:

Originally Posted by lazyplane (Post 11095)
put your words to action man...

Actually, that's what I've been doing for the past few years, i.e. my "action" = regularly reminding myself of the possibility of hyperinflation in Singapore and reminding myself not to panic. :)

Unregistered 03-05-2011 11:47 AM

Quote:

Originally Posted by Reporter (Post 8906)
Let's compare cash savings and stocks. Reason for the inclusion of the latter is that it is highly liquid.

As we all know, such savings come in handy during times of crisis, whether it's to tide over a job loss or to buy things on the cheap.

You did not include your savings and stocks!

Here's mine,
cash: $250k
gold: $32k
stocks: $0
bonds: $12k

Unregistered 17-06-2011 09:51 AM

Here is mine... (Honest truth)

Combined with my wife:-(I am 36 and wife 34)

Cash - $450k
Stocks - $150k
Car - Current value $140k (Bal $50k loan)
Apartment - Current value $1.05m (Bal $400k loan)
CPF - OA: $85k


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