Saturday, October 20, 2007

Inflation up more in 2008!!

GST up in July, despite increasing signs from the global economy that inflation will go up higher. Now they have to eat their own words and revise the inflation rate from 1.5% to 2%.

And now they say the price of flour will be up 30%! It will cost 20 cents more to buy bread. Reason is due to bad weather. If it is due to weather, rice crops will also be affected sooner or later. I did not forget that the price of oil is now USD90! I think 2008 inflation will be at least 2.8%.

Come on... Global warming has been quite obvious for the past few years. It doesn't take a genius to see that it will very soon affect crop harvests. The government insistence that the GST raise will not hit inflation, in the face of so much information, baffles me completely, and I'm not even an economics major.

I'm still very sore of the fact that the government did not invest in anything related to solar energy, despite being in the BEST place in the world to research into it. And they were just mentioning about why we cannot win the Nobel prize for Singapore. With this kind of "forward-looking" government, I wonder what the future holds for us. I don't even want to think about Nobel prize.

Worker's Party... Ganbatte!!

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