COE is at $2 now.
FUCK?!
ERP costs more than COE now. Hell, chicken rice costs more than COE now. This is a joke, seriously. And in an OPEN BIDDING SYSTEM?! This just shows how messed up we are right now.
Add in a S$2,400,000,000 budget deficit and MAJULAH SINGAPURA!
uh no. a $2 COE doesn’t mean we are in trouble. it just means that very few people want to buy cars. the government always sets an arbitrary number of COEs available per month without knowing the demand.
the fact that the COE is $2 is a sign that there are people still wanting to get luxury cars. if not, the COE would be $1.
a $2.4bil budget deficit is tiny actually. it’s huge to us normal Singaporeans, but it is very tiny compared to the budget surpluses that we have been having for the past few years. there is a difference between budget deficit and a true economical deficit. a budget deficit for a year to pump the economy is fine as long as the government knows what they’re doing. we actually have a bigger predicted budget deficit in 1999 actually. it was %5.05bil (almost ten years ago! in real terms now, it’ll be perhaps $5.5bil maybe).
ps budget surplus of $6.4bil for 2008 btw. the actual reserves that the government has is waaay greater than $2.4bil anyway.
I’m sorry. I’m a nerd [:
it’s still pretty messed up! I think the world is starting to realise that they don’t really need us anymore, now that everyone else has begun to catch up. Singapore could disappear off the map altogether and most of the global community wouldn’t really have a problem with it.
darling Singapore has always been insignificant to the rest of the world. it’s how we continuously force ourselves to be significant that matters. there is nothing wrong with the Singapore economy as of yet. a budget deficit is good as long as it is planned for and used correctly, which I have faith in MAS for doing. they almost always know their stuff – except Economics have been failing the world aka the US of A. it’s not Singapore that’s messed up. it’s the world actually.
anyway, the budget deficit is planned so that we can increase our significance in the world while everyone is shakey eg corporate tax rates etc.
when my dad bought a new car a few years back, he got the COE at $101. and that was after i told them that the miracles happen and we might just get a 100 bucks COE. hahaha/ then i told my mom that the COE might just drop to $1 one day! haha! quite unbelievable actually.. mess up, i totally agree.
sooner or later COEs will be three for ten dollars at the night market.
technically it’s 3 for 6 dollars right now!