Sunday 27 November 2016

Malaysia. Happy Nation

Is the 1992 hit single that rocketted Swedish duo Ace Of Base into pop stardom.

In the Credit Suisse latest global wealth report, it was revealed that this year alone, Malaysia had created some 4,000 new millionaires.

HAPPY NATION indeed, while our country's debt to GDP stood at 54 per cent. On the converse, Singapore's debt to GDP stood at 104 per cent .

What's NOT so happy about the report is most Malaysians are spending way above their means.

The debt of each Malaysian adult also rose from US$7,054 in 2015 to US$7,462 this year.

On the converse, Singaporeans contributed to the gain with their average rise of US$4,000 in wealth per adult, bringing their individual share of wealth to US$277,000, or the seventh highest in the world.

What this means is, if a whole lot of Malaysians get into trouble at the same time, your government has the resources to bail you out, but if Singapore gets into trouble, the people will have to BAIL, their Government out.