Inflation....hmm...
What's that?
Ok...imagine today a plate of Nasi Padang or Char Kway Teow costs $4.00. A week later, it costs you $4.50. Inflation is the INCREASE OF THE PRICES of all goods and services NOT only your food.
So yes....Singapore is facing an inflation problem now. Inflation will hit 7.5% this year.
BUT BUT BUT....WHY AM I TELLING YOU THIS? Ok....inflation is not new in Singapore. We have a HISTORY of inflation.
During the Japanese Occupation in Singapore, the prices of goods rose. For eg: 0.6 kg of rice cost $75 in Dec 1945 and it was only $8.50 the PREVIOUS year!!!!! The Japanese even issued Banana notes which had no real value and it made things worse!
Japanese Occupation....
In the early 1970s, the oil crisis caused Singaporeans to panic. There was a stocking up of food supplies by merchants. Inflation rose to double digit figures.
We are facing a similiar situation compared to the 1970s because of high oil prices.
Obama Proposing some solutions or IS he protectionist? You decide.
However, this time around, we are ready to deal with it because of a strong and diversified economy and incorrupt government. Read MM Lee's comments and assurance on this matter in Channelnewsasia.com....
If IF IF....You cannot stand the rising prices...here are some places to go for cheap cheap good good food (makan)
Some things for everyone to think about....
1. What is the COMMON factor amongst the 3 situations?
2. What is the DIFFERENCE?
3. Do you think we can effectively tackle the problem of inflation NOW?
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