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Wednesday, 5 March 2014

Do you trust yourself?

The recent reaction from the EIC report ranking Singapore as the most expensive city for 2014 is quite interesting.

I observed 2 groups of interesting people here:

1) Read headlines and assume

The first group don't even bother to find out the methodology and target user of this report.

Imagine how sheepish this group of people must have felt on their overreaction when it's explained to them that the EIC ranking is meant for business travellers and expat relocation.

It's not a cost of living index for the HDB man on our SMRT or Comfort Delgro public transport.

2) Trust other people's measured strings than their own feet.

I've written an old post on this interesting behaviour - The man who wants to buy new shoes.

World's 10 most expensive cities to live in 2014
1. Singapore
2. Paris
3. Oslo, Norway
4. Zurich, Switzerland
5. Sydney
6. Caracas, Venezuela
7. Geneva, Switzerland
8. Melbourne
9. Tokyo
10. Copenhagen, Denmark

With the exception of Oslo, Caracas, Geneva, and Melbourne, I've been to the other 6 cities.

I know from my own experience which city is more expensive than Singapore. I stress again it's about my own perspective. Shouldn't I trust myself more?

And it's the same for you. 

If you have travelled, worked, or studied in anyone of these top 10 cities, you will also have your very own perspective which city is more expensive than Singapore.

We put our feet into the shoes we want to buy; not just relying on measured strings. Wink, wink.


  1. Need really good luck to fit nicely into somebody's shoe

    1. CW,

      Even the same brand of shoes I can't assume they will fit me just because it's the same size 42 - laced-up and loafers have different "fit".

      When trading currencies, we often see price spikes on economic headlines and upon reading the full report, market may discover it has overreacted and its whipsaw time!

      I learn the hard way; I laugh at myself first!

    2. Let fix into somebody's slippers?

    3. Sometimes it's fun to walk barefoot at the beach.

  2. I trust myself of course. i can't find $2 chicken rice, wan tan mee etc.... at my heartland hawkers' center anymore.

    1. temperament,

      I believe you.

      Lucky there's still $2.50 fishball noodles, $2 nasir lemak, $1 zhui guey, $0.80 bee hoon, kopi and roti prata at Queenstown hawker centres.

      When the hawkers are as old as the estate and long time residents here, relationships matters ;)

      Please come to Queenstown and support our low fair prices!

      Having said that, I can triple confirm that for the top 6 cities in the survey I've visited, the Mcdonald value meals there cost much more than Singapore after converted to Sing dollars.

      I'll refund/treat you the price difference if you can bring back a Mcdonald value meal receipt to prove otherwise from any of the top 10 cities.

      How's that for conviction?



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