This is a short post because I am tired of all the feel good propaganda last week about Singaporeans being the richest in the world now and by 2050; healthiest as we speak; and have the best bond markets around.
|17-Aug-12||Bloomberg||Singapore Bonds Beat Peers in Shrinking AAA Pool: Southeast Asia|
|16-Aug-12||CNBC||Singapore is the Richest Country in the World by 2050|
|17-Aug-12||TODAY||Singapore is the Healthiest Country in the World|
The 68 page Wealth Report by Citi Private Bank and Knight Frank is available here. link.
Why do I know that Singaporeans are not the richest in the world ?
Because I live here.
I decided to do a Toyota Index using the information I found in the report. The top 10 countries by GDP per capita for 2010. That is their assumption for richest country, by the way.
Looks like Singaporeans are poor as far as Toyotas are concerned. With Toyotas, their SGD cannot go very far and it would not be practical to buy a Toyota in the Netherlands either.
Assume we all do not need cars. Then maybe housing perhaps ? That table I dare not display. Because I believe all citizens are entitled to affordable housing.
So here are the results.
I have said enough. The price for staying RICH is to live in a small apartment and DO NOT DRIVE. You will be rich in Singapore alright.