I don't think so... Just think about how much debt the average singaporean is in... I remember reading an article in Straits Times recently about how much the insolvency rate has gone up, particularly amongst the under 35yrs old age group.Singapore's situation is really that bad la. Asians still have the "spend within your means", "save for a rainy day" mentality. It's the angmo countries where people are using debt to fuel their spending.