Rich crowding out ordinary Singaporeans

From: "truth"
Date: Wed, 16 Sep 2009 02:55:14 GMT
Local: Wed, Sep 16 2009 10:55 am
Subject: Rich crowding out ordinary Singaporeans

truth comment: the poor has got no place in the singapore which
the papist leegime created. the statistics are confirming this trend.
more and more ordinary singaporeans will have to move to the
poor areas around the region to live out their sunset years. will u
continue to support the papist leegime policy of turning singapore
into a place for the rich only ?
http://www.huffingtonpost.com/2009/09/15/wook-kundor-age-107-seeks_n_...
Singapore most tycoon-dense

NEW YORK - Singapore has the highest density of millionaires at 8.5
per cent of the population, according to a Boston Consulting Group study.

Switzerland is second, at 6.6 per cent, followed by Kuwait, at 5.1 per
cent.

In fourth place is the United Arab Emirates, at 4.5 per cent, then the
United States, at 3.5 per cent.

The number of millionaires worldwide shrank 17.8 per cent to nine
million, as the global recession caused the first worldwide contraction in
assets under management in nearly a decade.

Europe and North America were hardest hit in that regard, posting 22
per cent declines.

The US still boasts 3.9 million millionaires, the highest worldwide.

Wealth dropped 11.7 per cent to US$92.4 trillion (S$131.5 trillion),
and a return to 2007 levels of wealth will take six years, said the study
that examined assets overseen by the asset-management industry.

Also hit hard were offshore wealth centres like Switzerland and the
Caribbean, where assets declined by 8 per cent to US$6.7 trillion last year
from US$7.3 trillion in 2007.

Europe posted a slightly higher US$32.7 trillion of assets under
management, edging out North America for the wealthiest region, though total
wealth in the region dropped 5.8 per cent.

Latin America was the only region to report a gain in assets under
management, posting a 3 per cent uptick from US$2.4 trillion in 2007 to
US$2.5 trillion last year.

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