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America vs. Singapore: You can't save your way out of economic shocks

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Re: America vs. Singapore: You can't save your way out of economic shocks

#241

Post by foxyv »

scottyah wrote: post #225
foxyv wrote: post #163

Earlier quoted context omitted.

There is in fact a we. It's just not based on race, religion, ethnicity, language, gender, or sexuality. "We" are the ones who create and work for a living instead of living off the backs of others. "They" are immensely wealthy oligarchs that exploit us using their ownership of land, buildings, communication networks and machines we need to survive.

I live off your back yet am nowhere close to immensely wealthy. I know it's en-vogue to hate on shiny billionaires but reality is a lot less glamorous. It's just lazy gov workers not getting much done, then hiring more people to try to cover their work. By the millions.

Your reality sounds suspiciously similar to the lies told on the media platforms owned by the shiny billionaires.

Re: America vs. Singapore: You can't save your way out of economic shocks

#242

Post by foxyv »

lotsofpulp wrote: post #201
foxyv wrote: post #192

Earlier quoted context omitted.

Why would there be insufficient workers relative to non-workers? Socializing health care, shelter, and food does not lead to a worker shortage. In fact, having a healthier and taken care of population leads to prosperity in general. In addition, it leads to reduced costs. Countries with socialized medicine pay a fraction of what America does for better health outcomes.

>Why would there be insufficient workers relative to non-workers? The total fertility rate and the trends of that rate of basically every country, especially the ones with socialized medicine. https://www.populationpyramid.net/norway/2025/

Fertility rates? The world population is growing.

Re: America vs. Singapore: You can't save your way out of economic shocks

#243

Post by supertrope »

scottyah wrote: post #206
raw_anon_1111 wrote: post #174

Earlier quoted context omitted.

And what happens when the Republican Party gut the ACA and you have a pre-existing condition. Do you know what life was like trying to get insurance with a pre-existing condition before 2012?

Then they can just skip insurance. Most people don't need it, especially if they already have a lot of money (which is what FIRE means)

That plan works until it suddenly doesn't. When it doesn't it's catastrophic for your finances and your health.

If you have an extra couple million dollars above and beyond your regular retirement fund you could self-insure your medical costs. But then you could just buy the health insurance.

Re: America vs. Singapore: You can't save your way out of economic shocks

#244

Post by scottyah »

raw_anon_1111 wrote: post #216
scottyah wrote: post #209

Earlier quoted context omitted.

You do know you can have a wedding even if you're already on-paper married? The ceremony really has nothing to do with the legal act.

So wouldn’t it go against everything that FIRE stood for to spend money on a wedding after you lost your job?

Nope, it's just mindful capital allocation. There are plenty of ways to spend money wisely on a wedding. It's just a big party, and maybe a traditional ceremony. It's whatever you want it to be.

Re: America vs. Singapore: You can't save your way out of economic shocks

#245

Post by scottyah »

raw_anon_1111 wrote: post #213
scottyah wrote: post #206

Earlier quoted context omitted.

Then they can just skip insurance. Most people don't need it, especially if they already have a lot of money (which is what FIRE means)

Obviously said by someone who is young and never had or knew anyone that had an expensive medical procedure like a friend who is 45 who I have known since 2003 and is a cancer survivor and now has to have open heart surgery

I don't believe your friend is most people. I have quite a few who haven't been to a doctor in decades.

Re: America vs. Singapore: You can't save your way out of economic shocks

#246

Post by scottyah »

supertrope wrote: post #243
scottyah wrote: post #206

Earlier quoted context omitted.

Then they can just skip insurance. Most people don't need it, especially if they already have a lot of money (which is what FIRE means)

That plan works until it suddenly doesn't. When it doesn't it's catastrophic for your finances and your health. If you have an extra couple million dollars above and beyond your regular retirement fund you could self-insure your medical costs. But then you could just buy the health insurance.

Medical expenses are less expensive when you don't have insurance. Insurance is just for catastrophic events, if you do some regular risk analysis you can come to a balance that works for you. If you know a major medical expense is imminent then get the insurance. Most procedures don't happen immediately anyway.

Re: America vs. Singapore: You can't save your way out of economic shocks

#247

Post by supertrope »

SV_BubbleTime wrote: post #237
mark_l_watson wrote: post #21

I had the privilege of getting a working gig in Singapore for a small AI startup: such a well run country! There is a sense of community for helping by employing people who need jobs, the police were friendly and I felt very safe there (I like to take long walks either early in the morning or late at night and I felt very secure.) Amazing what the people and government have achieved since the end of WW2. 100% respect…

I worked with a guy from sg. He gave me tips for when I went to visit. He hooked me up with a family member that showed me the backend a bit. The country effectively runs on a slave class. You must drive a new vehicle under 5 years old, and the license just to buy a car was $90,000 or so. This means an entire class of people that will be taking the bus to do your laundry and clean your house for the rest of their liv…

With the MRT not having a car is not bad. Paying 100K SGD for a Certificate of Entitlement (10 year car registration) is definitely a rich person move. Good point on the underclass and labor conditions.

Re: America vs. Singapore: You can't save your way out of economic shocks

#248

Post by FredFS456 »

SV_BubbleTime wrote: post #237
mark_l_watson wrote: post #21

I had the privilege of getting a working gig in Singapore for a small AI startup: such a well run country! There is a sense of community for helping by employing people who need jobs, the police were friendly and I felt very safe there (I like to take long walks either early in the morning or late at night and I felt very secure.) Amazing what the people and government have achieved since the end of WW2. 100% respect…

I worked with a guy from sg. He gave me tips for when I went to visit. He hooked me up with a family member that showed me the backend a bit. The country effectively runs on a slave class. You must drive a new vehicle under 5 years old, and the license just to buy a car was $90,000 or so. This means an entire class of people that will be taking the bus to do your laundry and clean your house for the rest of their liv…

I agree with you that the migrant workers are effectively a serf class. However, I think it's fine that the SG government severely discourages owning a car. It's a small island with lots of people, there would be gridlock if everyone wanted their own car. The public transportation system is amazing and works well.

Re: America vs. Singapore: You can't save your way out of economic shocks

#249

Post by bluGill »

3rodents wrote: post #33
bluGill wrote: post #22

You know who they didn't interview: those who regret saving so much. Many of those people are dead and so the regret is something we can only apply on assumption that they would. I've known a few people who unexpectedly died before they hit retirement age. I've know a few people who retired and died suddenly. The vast majority of people in a "first world" country have an expected lifespan of about 80 - but there is a…

People who save a lot are typically people comforted by sitting on a big nest egg. Saving a lot for retirement and then dying the day before retirement isn’t necessarily going to be a source of regret, because they had 30 years of warm fuzzy feelings about eventually hatching their nest egg. They could have spent it all instead, and had a life full of anxiety. You’re looking for people who didn’t want to save but beg…

I'm not sure. There is a warm fuzzy from knowing you are okay if things go bad of course, but how many of those who saved for the feeling would have saved less - they still would want a good amount saved for things going wrong of course but not that much.

Re: America vs. Singapore: You can't save your way out of economic shocks

#250

Post by scottyah »

foxyv wrote: post #241
scottyah wrote: post #225

Earlier quoted context omitted.

I live off your back yet am nowhere close to immensely wealthy. I know it's en-vogue to hate on shiny billionaires but reality is a lot less glamorous. It's just lazy gov workers not getting much done, then hiring more people to try to cover their work. By the millions.

Your reality sounds suspiciously similar to the lies told on the media platforms owned by the shiny billionaires.

Haha and yours sounds like the lies spread by communists/unions/etc attempting to wrest power from anyone who has it now. Your view leaves a lot of gaps. My view is easily verifiable by almost anyone working (barely) and getting paid by taxes. Or second and third parties getting that sweet, easy gov $$. It's also inclusive of your billionaires- many get money from the gov or gov policies too.

Your media platforms may be owned by the shiny billionaires, but the laws they adhere to are created and enforced by mobs of average 10-4 workers.

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