A Letter To The Singapore Government About Helping People Afford Things Better….
Dear Singapore Government,
- People and companies are striving to make more money.
- Sales are declining. People do not have enough money to spend.
- To make up for lost profits, companies raise the prices of goods.
- Consumer surplus narrows. The consumer dollar does not stretch as far as before. It becomes harder for families to make ends meet.
I notice prices edging upwards, Government. Gone are the days of the $2.50 plate of chicken rice. Now it’s $3.50 to $5.50 per plate. McDonalds is introducing all kinds of premium burgers, increasing profits by premium product line extension.
I just ate a New Year’s Dinner at Crystal Jade Restaurant yesterday night. Just me and my wife — $140 SGD. At the doorway menu, you can only see $8.80 to $12.90 meals on their menu. But once you step in, sit down and order… it is $16, $20, $28, $45 and more. Too embarrassed to step out. Want to show we can afford it. We ate six items. Bust!
Why did Crystal Jade ‘Bait & Switch’ us? Not enough customers. Need to have high prices to make up for lost profits.
Many companies are raising prices in a down economy. People are getting less pay, prices of goods are going up to cover a lack of sales; this means you are having less money and have to pay higher prices — harder to make ends meet. Consumer surplus is narrowing.
What To Do?
Government, two ways to tackle this:
One, Print Statutory Money to increase salaries and make direct deposits into peoples’ bank accounts. Pay businesses millions to increase workers’ salaries by thousands of dollars per person. This will really work. The people will feel instant relief.
Two, Price Controls upon the prices of goods, food, and services islandwide. Hold prices down. Bring back the $2.50 chicken rice! Pay Singapore businesses to hold their prices down.
This can really work. Consumer surplus will increase. It will feel like there is more than enough money to cover expenses. People will be happy and provided for. Companies will sigh relief as their relief funds come in. Hot dogs will be $1 again. Ice cream will be $0.50 again. Even kids can afford that. Price controls.
Use this idea, Singapore Government. Narrow the surplus gap by raising income and pressing prices down. Use your magic money! Hit the right target with your dollars, okay? Raise income, press down prices. Good luck!