Finland - Society and Economy

[Ray]

In Finland we have a saying " it is not the large income that matters, but the frugal spending". Without having any natural resources and only 5.5 million people, we have managed to accumulate more wealth for our peoples wellbeing than 1.4 Bn people Russia and India. I strongly suggest that you stop the overspending and start to think about the future of your people. Both of you. Whats the point of having nukes and aircraft carriers if people live in poverty? Mrd=Bn

The world's 300 largest pension funds – year end 2013 - Towers Watson

@sgarg

Nothing extraordinary that Finland can afford well being more than 1.4 Bn people Russia and India.

Finland's population does not even equal one city of India. Therefore, the resources and money can be well distributed.

It is not feasible for large countries since their populations are huge.

Finland's claim is another example of clever fudge in presenting facts to promote oneupmanship. It is skewed and a clever disinformation craft. Half truth presented as full truth and a fact.

 

[tarunraju]

India has a larger economy than Finland, Norway, Sweden and Denmark combined. Your point is?

 

[jouni]

India has a larger economy than Finland, Norway, Sweden and Denmark combined. Your point is?

My point is that our small Nation of 5.5 million have managed to save more money over the decades than 1400 Million Indians and Russians together. I guess Indian and Russian pension funds are less than 170 Bn. You always blame western countries are in debt, when actually the truth is the opposite: we have huge assets.

Indian pension fund is 125 Bn
http://mobile.reuters.com/article/idUSKBN0HC0OI20140917?irpc=932

 

[jouni]

Yeah every citizen is contributing to the coffer so that the fund keeps growing in preparation for the future.

But I'm more interested in how the fund is managed to make its growth outpace, such as inflation, devaluation, population growth rate and so on compounded.

Mere personal + employer contribution isn't enough therefore Chinese gov has to inject such as %% shareholdings of state-owned enterprises into the pension fund and raise the ceiling for this fund to invest in securities. Moreover there're plans in the air to postpone the retirement age like from 55 for women to perhaps 57 and 60 for men to 62?! Of course many oppose to this idea.

Such "socialist" social security net is necessary but a Q is how to run it sustainably.

~Tapa talks: Orange is the new black.~

Good remarks, yield for last year was 7.5%. That is pretty good when inflation is less than one per cent. Or course our pension age is 65, it would be nice to get retirement early like you guys.

 

[Ray]

My point is that our small Nation of 5.5 million have managed to save more money over the decades than 1400 Million Indians and Russians together. I guess Indian and Russian pension funds are less than 170 Bn. You always blame western countries are in debt, when actually the truth is the opposite: we have huge assets.

Indian pension fund is 125 Bn
India's state pension fund chief urges green light to buy stocks

You will have assets.

You are frozen for six months of the year with very little activity.

More like the groundhogs who require nothing during the winter months.

 

[jouni]

You will have assets.

You are frozen for six months of the year with very little activity.

More like the groundhogs who require nothing during the winter months.

In one months time starts the polar summer. Sun does not set for two and a half months. Temperatures up to thirty celcius plus. How can you live in India when you have half of the day complete darkness?

 

[apple]

Yeah every citizen is contributing to the coffer so that the fund keeps growing in preparation for the future.

But I'm more interested in how the fund is managed to make its growth outpace, such as inflation, devaluation, population growth rate and so on compounded.

Mere personal + employer contribution isn't enough therefore Chinese gov has to inject such as %% shareholdings of state-owned enterprises into the pension fund and raise the ceiling for this fund to invest in securities. Moreover there're plans in the air to postpone the retirement age like from 55 for women to perhaps 57 and 60 for men to 62?! Of course many oppose to this idea.

Such "socialist" social security net is necessary but a Q is how to run it sustainably.

~Tapa talks: Orange is the new black.~

Growth (either economic or population), inflation and deflation and the "normal" pressures on economics don't really apply in Europe.

The European economy is very, very stable (/stagnant). Am sure there are some really boring guys in Brussels coming up with solutions of how to safeguard European pensions

Nothing extraordinary that Finland can afford well being more than 1.4 Bn people Russia and India.

Finland's population does not even equal one city of India. Therefore, the resources and money can be well distributed.

It is not feasible for large countries since their populations are huge.

Finland's claim is another example of clever fudge in presenting facts to promote oneupmanship. It is skewed and a clever disinformation craft. Half truth presented as full truth and a fact.

Totally irrelevant, fall back position of Indian Nationalists to "defend" their country from a assumed insult.

Australia's big, we are very rich. China has a huge amount of people and it's society has massively advanced in a short period of time.

India has lots of people and a vibrant economy, it's Govt. should be rolling in money. Likewise Russia has had some kind of economy. Do any of this forum's Russophile's know what baksheesh is in Russian?

 

[Ray]

In one months time starts the polar summer. Sun does not set for two and a half months. Temperatures up to thirty celcius plus. How can you live in India when you have half of the day complete darkness?

Do we?

That is what your media full of disinformation tell you.

I have had no minute of darkness FYI.

You are outdated.

Remember, how you went ballistics about attacks on Christian Churches and you Papa (Pope) also chimed in?

Guess what?

It was disinformation to put India in bad light.

The attacks turned out to be by Muslims, including Bangladeshis.

So, do you realise how your media plays a dirty game?

Churchill had said 'Let the dogs bark, the caravan will pass its way'.

India is on the roll and that is what is worrying the West. No longer will be jumping to the Circus Masters snapping the whip.

 

[tarunraju]

--delete--

 

[tarunraju]

My point is that our small Nation of 5.5 million have managed to save more money over the decades than 1400 Million Indians and Russians together. I guess Indian and Russian pension funds are less than 170 Bn. You always blame western countries are in debt, when actually the truth is the opposite: we have huge assets.

Indian pension fund is 125 Bn
India's state pension fund chief urges green light to buy stocks

It's because we don't put our rainy-day money in pension funds that could go bust when something like the 2008 economic crisis happens. We don't want to be in a situation where we're old, the 'pension' doesn't keep up with inflation (of a rapidly growing economy). We instead invest in solid assets and collect rents, or depend on the Indian family system where at least one of the working-age kids lives with/close on ancestral property, and look after their parents.

 

[Ray]

Totally irrelevant, fall back position of Indian Nationalists to "defend" their country from a assumed insult.

Australia's big, we are very rich. China has a huge amount of people and it's society has massively advanced in a short period of time.

India has lots of people and a vibrant economy, it's Govt. should be rolling in money. Likewise Russia has had some kind of economy. Do any of this forum's Russophile's know what baksheesh is in Russian?

You indicate you lack of understanding of ground realities.

Australia is big. It is so big that it requires migrants to help run it. Its population is a mere handful. It requires a huge influx of foreign students and their fees to fund its economy.

How China has advanced is well known. Letting the Yuan be a unrealistic currency and unfair trade practices.

Beijing is keeping its currency artificially low in a bid to help China's exporters.

Since you do not understand such a basic issue, what can anyone do to help you beyond your pompous self opinionated blather?

India can roll in money, but it is a democracy. Crackdowns have to be reasoned with law and not by dictatorial fiats as in China.

Given the vast area of Australia, what is your population density?

If you don't even understand the model of Population - Area - Resources, it is you who is the ignoramus.

And yet, your boast about Australia as a great country with overflowing milk and honey and 'rich' falls flat since you cannot look after the homelands and the original Australians because you are more concerned about your whites whose lawn sprinklers and toilet flushing is more important that given the basics to your own originals.

Yes, the whites maybe rich in Australia because they don't care about the other communities but the whites.

So, cool off, man.

 

[sgarg]

@jouni, I think sum of Indian pension funds would be higher than 172B Euro. Still it is outstanding amount for your country.
I think you cannot compare with Russia. Russian economy is different. You can compare with India.

 

[apple]

You indicate you lack of understanding of ground realities.

Australia is big. It is so big that it requires migrants to help run it. Its population is a mere handful. It requires a huge influx of foreign students and their fees to fund its economy.

How China has advanced is well known. Letting the Yuan be a unrealistic currency and unfair trade practices.

Beijing is keeping its currency artificially low in a bid to help China's exporters.

Since you do not understand such a basic issue, what can anyone do to help you beyond your pompous self opinionated blather?

India can roll in money, but it is a democracy. Crackdowns have to be reasoned with law and not by dictatorial fiats as in China.

Given the vast area of Australia, what is your population density?

If you don't even understand the model of Population - Area - Resources, it is you who is the ignoramus.

And yet, your boast about Australia as a great country with overflowing milk and honey and 'rich' falls flat since you cannot look after the homelands and the original Australians because you are more concerned about your whites whose lawn sprinklers and toilet flushing is more important that given the basics to your own originals.

Yes, the whites maybe rich in Australia because they don't care about the other communities but the whites.

So, cool off, man.

Given that you're being an abusive troll today thought I should work out how much an Australian Aboriginal on welfare earns, in relation to India and Indians.

Welfare in Australia is currently ~250AUD a week plus ~60AUD for rent. Doing some sums that would add up to 16,120 AUD/ per annum or 801,718 Rupees. That is the least possible amount of money Australian Aboriginals would receive.

A UN (which apparently you're a fan of) organisation List of countries by average wage - Wikipedia, the free encyclopedia (The International Labour Organisation) calculated that after factoring in PPP, which should favour Indians, an Indian's yearly salary would be on average 3,540USD. Or about a fifth of what these Aboriginals with "broken toilets" (what are you talking about BTW???)

So yes, I think I can describe Australia as rich.

And seriously Australian economy is funded by foreign students From memory the population density of Australia is 2 people per square km. You can check Wiki, what's your point?

 

[amoy]

Good remarks, yield for last year was 7.5%. That is pretty good when inflation is less than one per cent. Or course our pension age is 65, it would be nice to get retirement early like you guys.

7.5% yield is very very impressive compared to Chinese pension fund 2% .

http://english.cri.cn/12394/2015/03/11/2361s869535.htm

"Our first priority is to allow market to manage pensions. The fund will be run by professional investment agencies based on market rules. Secondly, we want to diversify investment channels. Apart from buying treasury bonds and bank investments, we plan to choose projects which we feel have good financial prospects. In saying that, we are going to pay particular attention to try to avoid risks. Only a certain part of the pension fund will be allocated toward stock market investment."

Under the current rules, money held by the government in the pension fund can only be invested in treasury bonds and bank deposits.

This has only produced an annualized investment yield of around 2-percent for the past few years, meaning the pension fund has been losing money, as its yield has been below the rate of inflation.

the rumour (very likely true) has it that Chinese pension age won't be postponed in one go. instead it may be delayed bit by bit, gradually extended to 57/62 or beyond.

~Tapa talks: Orange is the new black.~

 

[Ray]

Given that you're being an abusive troll today thought I should work out how much an Australian Aboriginal on welfare earns, in relation to India and Indians.

Welfare in Australia is currently ~250AUD a week plus ~60AUD for rent. Doing some sums that would add up to 16,120 AUD/ per annum or 801,718 Rupees. That is the least possible amount of money Australian Aboriginals would receive.

A UN (which apparently you're a fan of) organisation List of countries by average wage - Wikipedia, the free encyclopedia (The International Labour Organisation) calculated that after factoring in PPP, which should favour Indians, an Indian's yearly salary would be on average 3,540USD. Or about a fifth of what these Aboriginals with "broken toilets" (what are you talking about BTW???)

So yes, I think I can describe Australia as rich.

And seriously Australian economy is funded by foreign students From memory the population density of Australia is 2 people per square km. You can check Wiki, what's your point?

Abusive troll?

Pot calling the kettle black?

You have been trolling not only Indians but also the Chinese. So, who is the troll?

You are such a dolt that you fail to understand that money cannot buy happiness for those who receive it or salve the guilty conscience of those who give it knowing fully well that they are enjoying the largest share of the largess.

Don't worry about India. We are still on the way to finding our feet after so many years of colonialism that benefited Kipling and his progenies. The fact that we are enforcing and getting our place in the sun is what is upsetting your racist superiority and you do not hesitate to mock and lampoon the same because of your sheer fright.

I never said the original Australians have broken toilets. So, why try to deviate and obfuscate? You have not read the UN report and neither what I wrote. You must be suffering from glaucoma. For Christ sake, read and then comment and not waste time and bandwidth. The key words are 'homeland', and whites 'lawn sprinklers' and 'toilet flushing' at the expense of depriving the originals. Good to see you quoting Wikipedia. Man of convenience, right? The Devil citing the Scriptures, right? What a chameleon!

When you compare countries, do look at PPP. That gives a realistic picture. Even a poor Indian would be rich in Burkina Faso. Also add the economic inequalities of white vs the originals. Got the photo? If white are what makes Australian 'rich' as you say, how come the originals are in such dire straits?

Foreign Students and Australian Economy?

Since you read very little, let me zap you between the eye with an Australian report

$3bn hit to economy as foreign students slump
THE value of international students to the Australian education sector has collapsed by 20 per cent as the high dollar gouges an industry already reeling from migration cutbacks, a prohibitive visa regime and violence against foreign students.

Education exports crashed to $13.9bn last year from $17.2bn in 2010 and a 2009 peak of $17.7bn, in the worst result since 2007.

A Deloitte Access Economics report last year found the downturn could hit the economy harder than the universities, costing 57,000 jobs and stripping $6.2bn from GDP by 2015.

Cookies must be enabled. | The Australian

While it is fine if you keep yourself illiterate about the world, I think you should at least learn about your own country and not talk from the wrong end.

You are a real gasser ( A talkative or silly boastful person).

 

[Ray]

@jouni..

If India consisted of just Mr Tata, Ambani and Adani, then India would be the world's richest and prosperous Nation.

Therefore, Finland and its postage size country and population is hardly worth comparing.

 

[Khagesh]

If you see all Finland has done is take a lot of loan at an increasing rate. That too through a highly ham handed organ, completely indiscriminate in its capability to deploy, called the Government. Even while their own people are in no mood to pay that debt back - see their savings rates.

And after taking this crazy loan they have put the money in there pocket and now feel happy about it.

We in India call it 'Karza le ke darza badhana'.

Here are the number that anybody can understand.

Gross savings (% of GDP) | Data | Table

Gross savings (% of GDP)----2010/2011/2012/2013
For Finland (in %)--------------23/22/21/20
For India (in %)-----------------34/35/32/32

Just stay cool they are digging a ditch for themselves.

 

[apple]

Foreign Students and Australian Economy?

Since you read very little, let me zap you between the eye with an Australian report



While it is fine if you keep yourself illiterate about the world, I think you should at least learn about your own country and not talk from the wrong end.

You are a real gasser ( A talkative or silly boastful person).

I've forgotten more of what I've learned about the World than you'll ever know. Mainly because unlike yourself I'm not trapped in a tiny parochial mind and can understand what I encounter.

According to your article foreign students were worth 17.7 billion AUD in 2007.

Australia's national GDP, as per Australia GDP | 1960-2015 | Data | Chart | Calendar | Forecast | News : 1560.60 USD Billion in 2013

Would seem ~1% of Australia's GDP comes from foreign students.

What is it with you and my posts, Ray? Everything you right in response to me is factually incorrect. You'd think, just be the law of averages, you'd have to right sometime. But no, you just keep getting it wrong, it quite weird :-(

School's out the day, with you Ray. Can't be bothered correcting anymore of more of your ridiculous statements for a while. But, carry on verging off course, Moderator.

 

[DingDong]

I've forgotten more of what I've learned about the World than you'll ever know. Mainly because unlike yourself I'm not trapped in a tiny parochial mind and can understand what I encounter.

According to your article foreign students were worth 17.7 billion AUD in 2007.

Australia's national GDP, as per Australia GDP | 1960-2015 | Data | Chart | Calendar | Forecast | News : 1560.60 USD Billion in 2013

Would seem ~1% of Australia's GDP comes from foreign students.

What is it with you and my posts, Ray? Everything you right in response to me is factually incorrect. You'd think, just be the law of averages, you'd have to right sometime. But no, you just keep getting it wrong, it quite weird :-(

School's out the day, with you Ray. Can't be bothered correcting anymore of more of your ridiculous statements for a while. But, carry on verging off course, Moderator.

Rest of the money is being made by exploiting the natural resources which rightfully belong to the aboriginals, people who were treated as animals under "Flora and Fauna act" enacted by the British colonizers of Australia.

 

[Cadian]