The Financial Independence Retire Early (FIRE) movement gained a lot of popularity in the last decade as many folks are becoming disillusioned with how routine life used to shape their elderly both mentally and physically.
The idea of having to work from 9-6, 5 times a week in the same cubicle for almost their entire lives have put that thoughts almost to extortion as many people strive to fight their way out of the rat race cycle that has embedded so many lives for so many decades.
In China, the latest buzzword namely “Tang Ping” stems from a revolution action by a group movement that encourages employees and workers to scrape by exerting the bare minimum of effort at an unfulfilling job, loafing around the job they held and protesting the rhetoric propagandist agenda of capitalism.
Lie Down Anyway You Like It With The “Tang Ping” Movement
Many young millennials in China are getting the brunt of more work, less salary, higher cost of living and lesser amount of satisfaction in their lives. As a result of capitalism, the younger folks are feeling the pinch and vouch a revolt of action by garnering strength through groupthink action by lying on the grounds and do nothing about it.
As a father of two myself, I can see why this becomes a worry for the next generation.
If we look at the wage increase over the past 10 years, salary increased by an average 8.7% per annum in Shanghai.
Home prices, however, has increased at an average of 10.5% per annum.
This creates a disparity where younger millennials will never be able to afford a proper home despite slogging long amount of hours at work and create ghostly exhaustion mentally over time.
Source: Hikersbay (C.A.G.R ~ 8.75% / annum)
Source: Hikersbay (C.A.G.R ~ 10.5% / annum)
At the moment, there seems to be an inflection disparity between the F.I.R.E and Tang Ping movement.
The F.I.R.E movement advocates a crazy amount of work, effort and savings upfront in order to enjoy the fruit of labour later in life. The Tang Ping movement goes on straight to revolt and decide to live their own life happy as they are today.
But one thing is clear, neither are contented with how the norm of doing things are being conducted and seek changes to get better.
Both F.I.R.E and Tang Ping movement knows Money is not the answer to happiness.
As far as happiness is concerned, perhaps both movement can be right at the same time.
China, with their abundance in resource and leading the rising economy of the world will still have to do with increasing their GDP per capita in terms of their population and happiness.
Hello, I can empathise with the working class and younger generation in China, especially those from other parts of China who ventured to Tier 1 cities in search of greener pastures or the promise of a better life. However, despite how hard they work, it seems that the very basic need of owning a roof over their heads is becoming more and more distant (unless you have bought a property years ago or have parents to support you financially on the first property). Many gen XYZ need parents and/or relatives’ financial support to own a home (their median income is lower than Sg, pay higher income taxes, have similar cost of living but housing psf/psm is about the same or higher in Tier 1 cities relative to Sg).
China is becoming more and more like HK in terms of housing insanity. Imagine you go to school for 20+ years with the hope of a better life but owning a home is becoming harder. Also, the working lifespan has become shorter as >35years old is considered old in some industries (tech especially). Imagine taking a mortgage for 30 years but you can only keep your job/have income for 10+ years! What is the meaning of life if no matter how hard you try, you can’t catch up with housing inflation? Some have retreated to the suburbs or mountains to live their lives (as opposed to make a living).
No wonder this tang ping movement has become more prevalent (and has reached the ears of the Chinese govt). We should been thankful to have HDB and BTO that help moderate housing prices in Sg.
uncle168,
cdl may have written off its investment on sincere but the debt it took up i estimate close to $1.5b is still on its balance sheet
its hotel investment m&c is also bleeding and impairment is going to be huge
cdl needs to raise cash quickly by selling its assets or via a rights issue
uol or cpl are vultures waiting for cdl to hang a white flag
keekeekee
uncle168,
us & china gov don’t like crypto & big tech co.
they fear one day people will not use the usd & rmb and the tech co have more data about its citizen which made the gov redundant.
goog has been broken into 2 companies.
global min tax of 15% to give gov share of big tech earnings and expected to increase to curtail their power.
the strategy is to tax big tech and break them into pieces and stop them from collecting data.
more countries will outlaw crypto as it is a money laundering machine for terrorism and drug money.
the china gov is trying to decoup from the us by preventing china co from listing on nyse and sehk so no foreigners can own china unicorn.
its like breaking down ussr now only left russia to reduce it power.
be careful when you buy bitcoin or tech stock, the gov don’t want anything to reduce its power and will do anything to stop it.
covid is never going to end, it will just become stronger as it mutates, its mission is to wipe out the human race.
every time a country open up, it will soon lockdown even if it is fully vaccinated.
gov will have to agree to print more money so people can survive just like during wwii after which all debt are forgiven.
#steadylah
#covidforever
#weareallgoing2die
keekeekee
uncle168,
i never though i would see cdl go bankrupt in my lifetime
it almost died after the asian financial crisis
i guess the son took too much risk and the father never say anything
credit is cheap but too much of it will eventually kill the borrower even if interest rate doesn’t increase and the entire investment is written off means no return to even fund the interest cost of the loan taken
its quite sad if cdl go bankrupt as the 3 local banks will be hit too as they lend money to cdl
the amount of debt taken to buyout m&c and sincere not stated in ar2021 but the unsecured debt is $6b out of $11b total debt
the only sane developer is uol & uic headed by botak wee, the balance sheet is full of cash ready to takeover cdl at rock bottom gss price
cpl almost uplorry lucky the mother temasick take over the money losing development business as it can borrow more cheaply than the cpl listed entity
fpt is another one going to uplorry never pay dividend liao and keep borrowing thru its reits praying for covid to end
you see the t-bill yield dropping to zero you know the market is crashing
take care yo
#steadylah
#themarketiscrashing
keeekeekee
haiz
uncle168,
israel & phuket has proven the vaccine is useless
the risk of getting killed by the vaccine is higher than covid
most people who get covid eventually recovers or are without symptoms
however by pushing people to get vaccinated real people who has no health problems suffer side effects and some even died for something they didn’t need to get in the first place
the sg gov new normal will never happen as it has been 2 weeks since 2 can dine out and already the cases are rising, it will double every day
today is 8 by the end of the month with 5 per table, everyone will get 1617 delta
the problem with covid is 1k gets it only 1 get very ill regardless of vaccination and ends up in icu
so if 100k people get it, 100 will swamp the icu while 99.9K people are ok
the new normal is not test trace vaccinate
it should be wfh taobao isolate
wfh – the office can never be open
taobao – dining out is impossible
isolate – our borders will be closed forever & mask is permanent
this is the real new normal the gov know is reality but the gov don’t know how to tell its people
ironically as more people get vaccinate, the proportion of those in the icu fully vaccinated will also increase according the the proportion of the population that is vaccinated
ever since 2 allowed to dine in, i see old people sneezing and spitting everywhere in bedok, this year there is no cold virus
soon you will see usa and europe lockdown again
now they tell you to get booster shot every 6 months
i think you die of vaccination more likely
the reality is when the day you are born from the hospital you will go home and stay at home until the day you die of old age
that is the real new normal
haiz
keekeekee
uncle168,
8 19 60…
better lockdown now and ban dining out b4 its too late
the key vector now is taxi grab petrol station orchard luxury shops
the 3 new normal wfh taobao isolate is the only way we can stop covid
i believe mask now also useless
as long as we allow ft to come in we will have to lockdown after lockdown
it is better to keep our border closed forever
ask property agents to become construction workers
ask insurance agents to become healthcare workers
ask the foreigners to go home
keekeekee
uncle168,
we have 1k icu beds but its always 70% full so we only have 300 icu beds left for covid
dengue could compete with covid as the recent rain and current heat can create a double surge for icu beds
the mistake is not banning wedding as it would lead to huge cluster please test the groom to proceed
next tuesday holiday will also create a surge as people take taxi to visit relatives which is a key vector of ktv
a long term strategy to tap into the army medical facility should there be a sudden surge of variant that escape vaccination
the lockdown trigger should be 100 o2 / 20 icu
it is better to ban dinning now and visiting next tuesday then worry about racism as everyone would understand
indonesia and malaysia surge was caused by the last holiday
god speed
uncle168,
84 out of 88 local covid case today was vaccinated as most people working at market and hawker are vaccinated
soon the icu will be full of fully vaccinated people
icu cases is proportional to the percentage of population vaccinated
it doesn’t mean you are vaccinated you will not end up in icu
eventually 50% in icu will be fully vaccinated and the % will increase with the vaccinated rate
vaccination gives people a false sense of security
they are more likely to socialise more increasing the risk of icu which non vaccinated people are more caution and isolate themselves and wary of the risk of vaccination injury and death
by national day the icu will be full of fully vaccinated idiots
what a way to celebrate the stupidity of the 4g leaders on ndp
it is better to ban dining out and visits tomorrow or risk a huge explosion of cases after the tuesday holiday
the gov can donate money to the race charity to apologise and they would understand
keekeekee
uncle168,
163 cases today only 1 unvaccinated
it means vaccinated has a 99.38% chance of contacting covid
the sec 4 boy jin smart below 18 years old no death penalty, go in and sit 20 years and get free education
come out 36 just nice can work and avoid ns
soon many under 18 will kill to get free education
keekeekee