The dilemma of the Singapore Electorate

With regards to the current “sour” climate we are experiencing due entirely to the consequences of our votes, I believe the dilemma still remains for many who are unsure what to do, especially if their wards are helmed by “popular” MPs like Dr Lily Neo, Mdm Tin Pei Ling, Mr Louis Ng, Tan Chuan Jin etc.

Previously, when both Dr Lily and Mr Indergit Singh, no matter how immensely popular they were and “voiced out” for the people, did it change anything? On the contrary, it has become worse off now!

We need to look no further than the 38 Oxley Saga and ponder on the words of the Lee siblings to know that a dominant PAP in Parliament now, only spells doom for the Country. Not a single PAP MP in the house nor the PSC/CPIB was able to hold the PM accountable for his actions while the voices of the remaining 6 WP MPs were automatically “drowned” out.

We should start asking ourselves whenever we see Dr Lily, Tin Pei Ling or Louis Ng if they can solve the problems presented to them but which was created by their party in the first place? Voting for them again and again is like supporting a drug lord who keeps feeding you heroine but believing that you will break free from the addiction someday.

Ultimately when push comes to shaft, a white will always be a white and will choose to defend their party if they have to. Even the lines of the civil service has been blurred following the Oxley saga.

Million dollar question is, should we go cold turkey for a term without the PAP and finally break free from the addition or continuing taking the drug and self destruct one day?

 

Sebes Li

 

 

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57 Responses to “The dilemma of the Singapore Electorate”

  • C'est la vie:

    *****
    Time is ticking away ………..

    It’s now or never ………..

    Or shall we wait for another decade or two ………..

    By which time, “never” has triumphed a-bloody-gain !!!
    ***
    *****

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  • Tin Pot Lin:

    Tin Pot popular; this country is in big trouble.
    What has she contibuted in Parly—one useless speech every 5 years?

    According to Peanut Woody, since none draw more than $500,000 and from private sector, whole Parly are made up of VVMP.

    Yes VVMP=Very Very Mediocre People; his words.
    When will the Fearful 70% wake up! Why do they choose to live in fear.

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  • NotMyProblem:

    9 August 1965 was the Independence of the Republic Of Singapore. Let the date of the next General Election be the Independence of the People of Singapore, freedom from the PAP.

    Majulah Singapura!!

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  • Crazy Rich PAPpy:

    Aiyo! What’s so difficult? Don’t make life more difficult for yourself. Think simple. Think this way. If you go to a supermarket for apples. The apples are packed in 4s. If you see a rotten one, a damaged one or you think one of them doesn’t look good, will you still pick it? No, right? Why die die must choose a particular pack just because you like only one of them? Go for another choice!

    Remember, we’ll have to pay a price if we choose the wrong ones!

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  • Titiana Ann Xavier:

    70% voters have been won over by propaganda from early childhood in PAP kindergartens. Reason and logic are beyond them. Manufactured ‘truth’ is drummed into their minds. The average voter grew up with a distorted and false view of political issues. The PAP has leveraged on this. Despite growing antagonism against the government, the Opposition faced the dilemma of winning over the voters to their side. The alternative view gets zero traction as the MSM are owned and operated by barons with deep vested interests.

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  • 79.99%:

    Next erection with Aljunied gone, the emperor will get 79.99%.

    Sad but true.

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  • oxygen:

    VOTERS ARE LIKE “smart” INVESTORS, most of them lose their pants and something else too.

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  • sad state:

    No dilemma at all. Sinkies are addicted and unwilling to go cold turkey. Nothing can change their minds, not even when this place is going to be flooded to 9,999,999 deep. They will welcome next target.

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  • Heartless:

    The millions had filled their mouths shut.
    The souls have been sold to the devil.
    Human became beast.
    Heartless Swine.

    Just Remember;
    They will still eat you up. So, Kill the devils to save their Souls and liberate all of them to hell.

    There is no two way around it. Hesitant and be eaten or “DO IT”!.

    If they are not the heartless swine, they can leave the devil themselves and not be a part of it.

    What do you think?

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  • CCK:

    Nothing wrong to take 2 steps back in order to make 5 steps forward.

    In any case, under PAP, we have taken many, many steps backwards ..

    What do you think ?

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  • DieLah:

    “Voting for them again and again is like supporting a drug lord who keeps feeding you heroine but believing that you will break free from the addiction someday.

    Ultimately when push comes to shaft, a white will always be a white and will choose to defend their party if they have to. Even the lines of the civil service has been blurred following the Oxley saga.”

    Damn right. With self righteous greedy leaders or pigs, everything is for sale…..your childhood, your skills, your values, justice is for sale too, hospitals or medical services to the rich , your homes or HDBs and even your flag or country to any foreigner who want a piece of Sin.

    Shameless pigs will just pay your news writers to write their version of truth or confuse you with academic arguments, or lies, to deceive your gullible and also greedy electorate so what’s the point of the poll?

    Or just play money politics with stupid electorate and 70% will continue sniffing glue.

    It is the same everywhere.

    A global problem requires a global solution now go pray or die in Sin.

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  • HarderTruths:

    You speak as if without the pappies there is no future.
    And there are no citizens worthy to lead the island so we have to make do with them.

    You sound like a pappy – lover to me trying to convince yourself life without your pappy-heroes will be ok.

    I am waiting for your next post on how we are supposed to kiss their *ss.

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  • More Pain Needed:

    When there is still feeling of “dilemma” in dumbos means that the pain is still not enough.

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  • PAP.GUARANTEE.WIN.GE2019/20:

    Dear readers,
    There is no dilemma.

    The real news and the truth is you are owner of your HDB property which will always rise in value.

    Because you are owner of your HDB property, it is only right that you pay property tax.

    Below is our PAP real news.

    Geylang HDB Flat Sold For $910,000. Look, your HDB property could be sold at S910,000.
    https://www.propertyguru.com.sg/property-management-news/2018/3/170364/geylang-hdb-flat-with-city-views-sold-for-910000

    Buy property and vote PAP.
    PAP.GUARANTEE.WIN 2019/20
    -PAP Huat .. Huat .. Huat .. Ministers are not paid enough..
    -Singaporeans must DOWNSIZE so that PAP ministers can UPSIZE their salary and lifestyle.
    -Singaporeans vote PAP in support of 9% GST so that minister will get paid > 500K and no longer mediocre
    -Singaporeans vote PAP in of support 30% water increase so that minister will get paid > 500K and no longer mediocre

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  • PC Ong:

    Why should PM Lee be held accountable for anything related to 38 Oxley Road?That is private family matter! The Singapore electorate has no dilemma. They know the PAP is not perfect, but is still the best choice for the country. Whether the next GE is 2019 or 2020, it will be a comfortable victory for PAP. The only question is whether the winning % if 60% or 65%.

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  • Citizen Aristocrat:

    Aiya, the Oxley saga is no saga at all. I say just go ahead with the preservation and erect a monument. Just provide a built-in elongated spittoon in front of it. That’s all I ask for.

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  • opposition dude:

    There are too few mavericks in PAP going against the goondu PM. We can all see how the ministers side with the party no matter what happens.

    Of course WP would be drowned out, what can 6 of them do against 80 monkeys? It’s common sense!

    You want change you have to vote for it. I don’t think the dafts have even realised that their votes have made life harder for every single one of us on the island oh hell no. The election comes and they once again let their kiasee mentality take over.

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  • Trust only myself:

    The choice is actually not difficult………have to break free….

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  • nihon:

    the white clowns have taken true blu sgs for granted for too long.

    after ge 2015, they simply disappeared.

    and made many anti-people policies simply bochap our opinions.

    now, hospitals are filled by unqualified 3rd world trash passing off as ‘doctors’. and many more in other sectors and IT ‘engineers’ and ‘bamkers’. just go woodlands, filled with chibai tiongs and the eastern sg flooded with abnns and peenoise.

    when will you take back your contry?

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  • waste of time zzz:

    regardless of how “popular” or “unpopular” a PAPpy is, they have to toe the party line when it comes to voting in parliament thus they are ONE.

    what have the PAPpies done for you after GE2015? Everything has gone up i.e. water, electricity, transport fares, food, cost of living, stress, blood pressure… all except your salary!

    why not just give a chance to the OPPies? do the right thing in GE2019!

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  • Whip:

    So what if they are nice people, they can only apply koyok after your ass is whipped by the Party Whip. While applying they soothe you and whisper sweet nothings in your ear.

    And these “nice people” will whip you again and again + koyok + koyok until you learn how to vote wisely.

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  • Haigen-diaz:

    It is really easy for PM Lee to talk of how ‘we’ need to tighten ‘our’ belts when the ‘we’ he is talking about never seems to include those doing all the talking. With housing, health care, education, communications/utilities and food costs rising and incomes staying flat, just trying to cope becomes an exercise in debt for the middle-working class. The accumulative effects of stagnated wages and continuing higher costs are now making many more in the middle-working class to understand what class warfare is and how economic inequality can and does have a devastating effect on them. Worst of all is the impact on representative democracy. PAP present system does not distribute income and wealth by rewarding the most talented more than the less talented — unless you believe that the only talent worth rewarding is by betting on the craps table in the ‘Familee’ casino. Extreme cronyism allows the wealthy to have their media lackey’s bombard the rest of us with polarizing political propaganda which supports the protected status of the super-rich while encouraging class warfare between, the shrinking middle class and the poor, poorer and poorest. Our political system is set up to make sure the Govt-linked corporations and privileged elites flourish, while the rest of the population flounders to make ends meet. No doubt technological innovation and a low cost global labor market have exacerbated economic inequality here and has tilted the economic playing field even further. But the problem is not economical, it is political. The electorate must put the democracy bit in their mouths and go to the polls 2020. Our economic ills will continue to be 69.99% political for as long as voters continue to vote as they do.

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  • Rabble-rouser:

    @ Haigen-diaz:
    But mate, the PAP’s planted political system is unworkable in the long-run & totally unsustainable. There’s no natural resources to speak of eg. Indonesia, Myanmar & neither do we have any competitive advantage (ie. technological competence) in any field eg. Taiwan (Semiconductors, contract manufacturing), S.Korea (Automobiles, Smartphones). S’pore (as a limited geographical location with a small footprint) can only rely on human capital (ingenuity, hard-working & trading instincts) to generate a livelihood. In the past history of S’pore, it was called The Pearl of the Orient. Why? S’pore then was a centre of the Spice & Commodities trade & a major trade financing centre. All the best traders cluster in S’pore & the Chinese-dominant banks began through trade financing instruments issuances like LC & trust receipts for commodities trade. As the developed economies grew richer, S’pore was a leading exporter of ornamental aquarium fish & ornamental orchid cut-flowers to the world. Even our hawker food trade were among the best in the region. The current UNESCO bid for listing is a sad joke! Present day hawker cuisine is diluted & a pale shadow of the past.
    Sadly, all our natural instincts were bred out from our mechanism not long after the PAP took over. The late LKY took a chapter out of ancient China books & began his Academic-focused competitive system & his Meritocracy Policy (modelled after China’s Imperial Scholars hand-picked from a rote-learning Examination-focused system & the Imperial Mandarin elite mechanism of governance). Yet from history books, we know that Ancient China failed miserably & were constantly dominated by foreign powers & near neighbours Mongolia & Manchuria. The main weakness was as politics developed, the economy weakened due to parasitic feeding of resources by the political elite class. And China’s historical agarian economy was repleted with cases of drought & famine lasting decades.
    And S’pore’s “drought & famine” is about to happen.

    Haigen-diaz: Our political system is set up to make sure the Govt-linked corporations and privileged elites flourish, while the rest of the population flounders to make ends meet.

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  • 益露甘汁:

    Heartless:
    The millions had filled their mouths shut.
    The souls have been sold to the devil.
    Human became beast.
    Heartless Swine.

    Just Remember;
    They will still eat you up. So, Kill the devils to save their Souls and liberate all of them to hell.

    There is no two way around it. Hesitant and be eaten or “DO IT”!.

    If they are not the heartless swine, they can leave the devil themselves and not be a part of it.

    What do you think?

    不会觉得自己退步了吗?

    你还相信灵魂吗?

    在你字里行间,已感觉不到行文者还有灵魂!

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  • Sporran are wise:

    When come to Singapore survival,singaporean voters know better.That why for the last 50 over years we have the same government .
    Can we go cold turkey without PAP for one term ?
    Definitely not.
    Why ?
    Remember 50 years ago we start of with nothing,we were dead poor.
    Today we are one of the richest country on earth.
    Because of the political stability and the right and consistence policies we have that why we are able to attract huge investment here to create jobs for us.
    An example
    Today we are the fourth largest financial centre in the world.The 200 banks operating here have a total asset of around USD 2 trillions, so we can’t afford to have political risk and policies otherwise these money will pull out.
    So political stability is crucial to us.

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  • PAP.GUARANTEE.WIN.GE2019/20:

    PC Ong:
    The Singapore electorate has no dilemma. They know the PAP is not perfect, but is still the best choice for the country. Whether the next GE is 2019 or 2020, it will be a comfortable victory for PAP. The only question is whether the winning % if 60% or 65%.

    Very well said, PCOng,OngPC.

    The next GE our Great Leader PM Lee and his party is 101% guarantee win.

    We PAP are right. Opposition supporters are mere useless, hide behind moniker keyboard warrior coward leecher.

    They just leech off the good work and efforts of others like JBJ, Roy, TRE etc without giving or support with donation.

    We urge all PAP supporters to spread the message, inside MRT, Temple, Church, Mosque, Pasar, Super Market etc.
    Do not play into the hand of Opposition who are working with foreigners to crash our economy.

    PAP.GUARANTEE.WIN 2019/20
    -PAP Huat .. Huat .. Huat .. Ministers are not paid enough..
    -Singaporeans must DOWNSIZE so that PAP ministers can UPSIZE.
    -Singaporeans vote PAP in support of 9% GST so that minister will get paid > 500K and no longer mediocre
    -Singaporeans vote PAP in of support 30% water increase so that minister will get paid > 500K and no longer mediocre

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  • patriot of Temesak:

    NotMyProblem:
    9 August 1965 was the Independence of the Republic Of Singapore. Let the date of the next General Election be the Independence of the People of Singapore, freedom from the PAP.

    Majulah Singapura!!

    Should the GE be held in 2019 which is MOST LIKELY to co-inside with the 200th Founding of Singapore plus the Owls’ Hooting @ ISTANA to call the last of the LEEdynasty back to their Master in HELL!!!

    Let it be a Double Celebration and Double Happiness for the People of Singapore…

    Freedom and Unshackling of the Chains that bound us by the EVIL LEEDynasty

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  • Rabble-rouser:

    The number of banks in S’pore are not a symbol of domestic wealth but rather a liberal offshore banking eco-system. Their wealth was generated offshore & put to use in S’pore to generate offshore businesses but headquartered in S’pore for tax & accounting purposes. Basically, there’s hardly any ‘trickle down’ effect for locals nor any banking skillsets for local graduates to master. You’re fearmongering the people here. Even if those banks leave S’pore, nobody would die from starvation & poverty because there’s no benefit to the domestic economy except for a few foreign expats. Go scare people somewhere else, idiot!

    Sporran are wise: Today we are one of the richest country on earth…Today we are the fourth largest financial centre in the world.The 200 banks operating here have a total asset of around USD 2 trillions, so we can’t afford to have political risk and policies otherwise these money will pull out.

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  • Haigen-diaz:

    We have created a society that incentivizes the powerful to capture wealth by any means and our industries are turning into oligopolies that can charge premium prices without much threat of anti-trust enforcement. Is it any wonder that GDP is increasing, the richest get richer and no benefit is felt by the vast majority of citizens? Singapore has one of the highest GDP per capita in the world. However, our wage share of GDP (at around 43 per cent) is lower than the shares of most developed economies. This book “Why Nation’s Fail” by Daron Acemoglu and James A. Robinson uses a similar measure to demonstrate empirically the need for a higher worker share to sustain democracy and human rights. Measuring the benefits of growth is essential if we are to know how to deal with these issues. The best measure of the financial health of working families is total wages as a percentage of GDP. In short, this measures a worker’s ability to purchase the fruits of their labor. Total wages/GDP has deteriorated to 43%. Since most consumers have not seen their financial situation improve in years, my guess is that they, despite all evidence, believe the PAP hyperbole, or at least want to and are willing to bankrupt themselves to prove it. Our financial system is much bigger than needed to support the real economy. Its principal purpose is the capture of wealth. Growth is often uneven, and the unevenness is hidden by the headline growth figure. Given the fact that inflation adjusted income has been mostly flat for average Singaporeans since 2007, let’s see how many citizens will vote against this administration. Does it accord with the PAP rhetoric and if not, who do they think is getting richer at their expense?

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  • Rabble-rouser:

    Bro, this is one of the biggest systemic risk of the S’pore Economy. The FINANCIALIZATION of the S’pore Economy & the fact that unsustainable debt permeates across all strata of S’pore’s society. It’s like a stack of domino tablets line up awaiting a spectacular fall.

    Haigen-diaz: Since most consumers have not seen their financial situation improve in years, my guess is that they, despite all evidence, believe the PAP hyperbole, or at least want to and are willing to bankrupt themselves to prove it. Our financial system is much bigger than needed to support the real economy. Its principal purpose is the capture of wealth.

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  • oxygen:

    @ Sporran are wise

    YOU MUST BE A MORON near to infinity. If the banks have asset of around $2 trillion of your wild imagination – unsupported of evidence as it is – WHOSE LIABILITIES is that $2 trillion?

    In the money world, the kindergarten of mentally-retarded children WOULD HAVE LONG TAUGHT you this – what is your ASSET must be matched by someone or a collection of entities’ LIABILITY.

    You put $100 in the bank, it is your ASSET of savings, that $100 is the bank’s LIABILITY to you. If the bank lends out that $100 to a business called TRE Incorporated, that $100 becomes the bank’s ‘ASSET’ and is shown in TRE Incorporated balance sheet as its LIABILITY.

    So it is one pocket to another of transfer – it is worth NOTHING to the $2 trillion OF YOUR DUMBFARKED BOASTING. On the contrary, if that deposit is used as a basis for lending $900 to TRE Incorporated (because the banks by law do not have to keep 100% liquidity, maybe just 10% or less, so banks can lend out 9 times its deposit base), it means the banks EXTEND ITS EXPOSURE 9 TIMES.

    The “asset” in the bank’s balance is therefore is NOT THE BANK’S PROPERTY BUT SIMPLY ITS EXPOSURE TO RISKS – the bigger the “asset” of its lending, the BIGGER IS ITS RISKS FROM ITS CUSTOMERS.

    The banks that HAS SUCH HUGE exposure cares about who they lend to, NOT WHOLE GOVERN LEE-JIAPORE (the dirtier it is the better because bankers can do more sleazy under table business).

    SO YOU ARE COMPLETE FIACKING IDIOT OF THAT POSTING below. You should really go back to your KINDERRGARTEN FOR MENTALLY RETARDED CHILDREN AND START LEARNING FROM TODAY.

    Sporran are wise: An example
    Today we are the fourth largest financial centre in the world.The 200 banks operating here have a total asset of around USD 2 trillions, so we can’t afford to have political risk and policies otherwise these money will pull out.
    So political stability is crucial to us.

    G

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  • LIONS:

    There is no dilemma.
    There is NO SPURS IN THE HIDES PF 70 PCT DAFT SGS.

    DO YOU THINK WITHOUT PPL LIKE LIM SIA SUAY N XO CHYE TOW KUEH,SG N sgs will be worse off?
    For that matter,lee ah long?

    Dont continue to be conned.

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  • Haigen-diaz:

    @ Rabble-rouser

    Bro, The problem may not be debt per se, rather it is what the debt money was used for. If it was used for investing in a quality future, such as infrastructure (excellent roads to move people, goods and services, good public transportation [necessary as the Baby Boom generation ages and cannot drive], safe overhead bridges); quality education pre-tertiary; health care for a healthy citizenry; the environment & parks; security & quality care in old age; consumer safety; scientific research, then the net benefits of the road’s use would offset the debt burden. But if debt was incurred in for – say – military spending (which is partially the problem in Greece), the debt burden has no useful payback counterpart, and it remains a burden. Even if we decide not to worry about ever paying off the PRINCIPAL, we do need to pay the INTEREST on the debt happen. However, even if GDP did grow faster than interest expense, that GDP growth “saves” us only if we both CAN and DO extract enough of that GDP growth through taxation to pay the interest expenses that are increasing in real dollars. Reducing the deficit by austerity eg: GST hikes when growth would have been quicker and more productive is symptomatic of reflexive behavior from this scrooge Govt. They hope for ever-increasing GDP growth to make the drag bearable but we don’t always get what we want.

    Rabble-rouser:
    Bro, this is one of the biggest systemic risk of the S’pore Economy. The FINANCIALIZATION of the S’pore Economy & the fact that unsustainable debt permeates across all strata of S’pore’s society. It’s like a stack of domino tablets line up awaiting a spectacular fall.

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  • Sporean are wise:

    Rabble-rouser “Even if those banks leave S’pore,nobody would die from starvation & poverty because there’s no benefit to the domestic economy except for a few foreign expats.”

    If all the banks leave thousands of jobs will be lost.
    Then our financial district will become a ghost town.
    And it will definitely make a dent on our economy.

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  • Rabble-rouser:

    @ Sporean are wise:
    Between the late 1980s to early 2000s, S’pore had a huge HDD manufacturing presence. At one point in the mid-1990s, S’pore was the leading global HDD assembly & R&D centre. Even Ho Ching had her inglorious start to investing by acquiring Micropolis (a mid-sized HDD player) for ST Technology for $800 million & fluffing it down the drain. All of this was gone (migrated to Thailand & Dongguan, China) when 2000s rolled by. It did made a dent to S’pore’s economy but WE’VE MOVED ON. The industrial space were repurposed for other industrial uses & many had forgotten about S’pore HDD activities by now.
    Likewise, Traditional Banking is in danger of disruption through innovation & technological change. Peer-to-peer lending, crypto-cufrencies, shadow banking system & non-banking payment platforms like Google Pay, Apple Pay, AliPay will eat up traditional banks & international banking mechanisms. Like it or not, the Financial district will become a ghost town when the winds of disruption hits as thousand of jobs would be lost (mostly for expats & foreigners with little impact to locals). Watch this space.

    Sporean are wise: If all the banks leave thousands of jobs will be lost.
    Then our financial district will become a ghost town.
    And it will definitely make a dent on our economy.

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  • Rabble-rouser:

    @ Haigen-diaz:
    Bro, read this! Although the writer talks about the US but S’pore’s Economy is highly correlated to the US.
    Link: https://www.zerohedge.com/news/2018-08-31/once-bubbles-pop-were-broke

    Haigen-diaz:
    @ Rabble-rouser

    Bro, The problem may not be debt per se, rather it is what the debt money was used for. If it was used for investing in a quality future, such as infrastructure (excellent roads to move people, goods and services, good public transportation [necessary as the Baby Boom generation ages and cannot drive], safe overhead bridges); quality education pre-tertiary; health care for a healthy citizenry; the environment & parks; security & quality care in old age; consumer safety; scientific research, then the net benefits of the road’s use would offset the debt burden. But if debt was incurred in for – say – military spending (which is partially the problem in Greece), the debt burden has no useful payback counterpart, and it remains a burden. Even if we decide not to worry about ever paying off the PRINCIPAL, we do need to pay the INTEREST on the debt happen. However, even if GDP did grow faster than interest expense, that GDP growth “saves” us only if we both CAN and DO extract enough of that GDP growth through taxation to pay the interest expenses that are increasing in real dollars. Reducing the deficit by austerity eg: GST hikes when growth would have been quicker and more productive is symptomatic of reflexive behavior from this scrooge Govt. They hope for ever-increasing GDP growth to make the drag bearable but we don’t always get what we want.

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  • oxygen:

    @ Sporean are wise

    YOUR EXAGGERATED EXASPERATION is unfortunately adds nothing to this discourse. The blogger @ Sporran (was that you of identical moniker??) spoke of $2 trillion of assets owned and belonging to 200 banks in LEE-jiapore remains unsubstantiated.

    Is there really exactly 200 banks and not 98 or 205 banks or any other number of fertile imagination, operating in LEE-jiapore? @ Sporran is wise seems or pretend to be very certain of his claims published in his/her comment.

    And if there is precisely 200 banks, did they owns $2 trillion in “assets” or ANOTHER HOAX OF FICTION?

    This weblink below of your notation says nothing of the fantasy claims of @Sporran are wise is correct of assertion.

    http://www.mas.gov.sg/Singapore-Financial-Centre.aspx

    EXAGGERATED GENERALITY OF BOASTFUL CLAIMS and of this weblink of your supply adds no substantiation or informed discourse exchange. It is just dust clouds thrown up to conceal its emptiness of hollow claims and irrelevance.

    In any case, in the banking world, ALL ASSETS ARE MERE EXPOSURES TO RISKS LENDING OR DERIVATIVE RISKS BETTING – not tangible value of some physical “property” holding or cash belonging to its shareholder of any measure – and is usually much much higher than its deposit base (which is the bank’s liabilities in reality).

    In the financial market meltdown like GFC, asset base of banks shrinks rapidly i.e. banks lending to borrower becomes substantially irrecoverable and its losses in derivatives crystallized immediately (as counterparty defaults). Remember Citibank market capitalisation in the GFC was even lower than our own DBS? Remember TH and GIC investments in bank equities turned out to be MONUMENTAL LOSSES thereafter?

    Remember in banking, assets should be look as dealing in debts and risks because banks have little physical asset. So the bigger the “assets”, the bigger is the risks.

    And there are also inter-bank dealings as well. Lehman Brothers collapse almost destroyed the global economy in the lst GFC. One big bank crashed here, WE ARE IN DEEP DEEP TROUBLE.

    So for any blogger to boast of huge assets of bank operating out of Singapore is just empty fart of ignorance. Such bloggers have never opened up the balance sheet of a listed bank entity to what what it is like.

    THEY ARE CLUELESS NAIVETY AND WORST STILL THEY DON’T KNOW THEY ARE CLUELESS or simply too stupid to even begin to discover they are actually stupid to impossibility. Or they know BUT LIED in social media forum.

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  • Rabble-rouser:

    @ Sporean are wise:
    A fear-tinged Economic Narrative that calls for stability & “Not Rock The Boat” is a no logic (brainless) argument which benefits the elites while condemns the masses to a life of slavery & severvitude. And there are many in S’pore who lack dreams, ambition & aspirations to be better. Or else how can one boast “we are one of the richest country on earth” yet in their pockets, they’re penniless? What I’ve said, aren’t my words correct or not?

    Sporran are wise:
    When come to Singapore survival,singaporean voters know better.That why for the last 50 over years we have the same government .
    Can we go cold turkey without PAP for one term ?
    Definitely not.
    Why ?
    Remember 50 years ago we start of with nothing,we were dead poor.
    Today we are one of the richest country on earth.
    Because of the political stability and the right and consistence policies we have that why we are able to attract huge investment here to create jobs for us.
    An example
    Today we are the fourth largest financial centre in the world.The 200 banks operating here have a total asset of around USD 2 trillions, so we can’t afford to have political risk and policies otherwise these money will pull out.
    So political stability is crucial to us.

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  • Haigen-diaz:

    @ Rabble-rouser
    Thanks for sharing. On top of Trump’s & ours’ bungling in all aspects, I think it’s highly correlated.

    Rabble-rouser:
    @ Haigen-diaz:
    Bro, read this! Although the writer talks about the US but S’pore’s Economy is highly correlated to the US.
    Link: https://www.zerohedge.com/news/2018-08-31/once-bubbles-pop-were-broke

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  • Sporean are wise:

    Rabble-Rouser /////Between the late 1980s to early 2000s, S’pore had a huge HDD manufacturing presence. At one point in the mid-1990s, S’pore was the leading global HDD assembly & R&D centre. Even Ho Ching had her inglorious start to investing by acquiring Micropolis (a mid-sized HDD player) for ST Technology for $800 million & fluffing it down the drain. All of this was gone (migrated to Thailand & Dongguan, China) when 2000s rolled by. It did made a dent to S’pore’s economy but WE’VE MOVED ON. The industrial space were repurposed for other industrial uses & many had forgotten about S’pore HDD activities by now.
    Likewise, Traditional Banking is in danger of disruption through innovation & technological change. Peer-to-peer lending, crypto-cufrencies, shadow banking system & non-banking payment platforms like Google Pay, Apple Pay, AliPay will eat up traditional banks & international banking mechanisms. Like it or not, the Financial district will become a ghost town when the winds of disruption hits as thousand of jobs would be lost (mostly for expats & foreigners with little impact to locals). Watch this space.////

    Remember in the early years of our independence ,we depended on entrepôt trade to make a living. And remember that we were, at one time,one of the biggest rubber exporters despite no plantation here.

    As you mentioned, we were facing HDD challenges between the late 1980s to the early 2000s.

    But now in 2018 we have survived.We overcome all the challenges and passed them with flying colours.

    This is attributed to the strong and shrewd leadership to make changes and tackle the challenges we face.
    That is why we need very capable people to run S’pore and ensure our survival.

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  • DOOMERANG:

    Chinese cannot talk BAD about chinese as saying goes.

    EVEN IF THE CHINESE IS STEALING YOUR $$$$ N YOUR JOBS.

    STUPID IS MORE LIKELY….

    RACIST IS TRUER THAN BLUE.

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  • oxygen:

    @ Sporean is wise @ Rabble-rouser @ Haigen Diaz

    HEY, MATE, @ Sporean is wise, NORMATIVE PREACHING IS MORALISING FART OF FICTION – not reality of we actually got very capable people running S’pore now.

    Sporean are wise: That is why we need very capable people to run S’pore and ensure our survival.

    Present Tense told the nation in 2015 that our ECONOMY MAXED OUT. In 2016, he confessed our restructuring has failed (that is why there is so much pain was his illumination after the fact of this failed economy). NDR speech 2017 was an escapism from MACRO-ECONOMY talk – it is diabetes. Come 2018 it was about costs of living, VERS, HIP 2 fiction (who is going to spend money co-pyament if they can find the money then on a fast decaying residual lease to be taken back by the State?). On State ownership of land (paid for by peasants’ subsidy to State instead of the often touted opposite in perverse) for future generation? All POPpycock – the land can be recycle now via HDB en bloc by returning the land to peasants!

    And in decades down the road, Past Tense, BEFORE HE GONE TO TERN SUA NEVER TO RETURN, got the foresight and vision of warning in his last publishing of ONE MAN VIEW OF THE WORLD – warned of climate change could raise sea-level by a few metres and all that is left of LEE-jiapore is what is Bukit Timah of land space.

    WHAT BULLSHIT is this LAND RESERVE FOR FUTURE GENERATION CRAP from the Highly Deceptive Bureau (HDB) – no less – OF A MOTHER OF ALL LIES TO CONCEAL 5 decades of lies that peasants owns their flat (in law it is mere chattel) and property ownership is defined in law as ONLY LAND (which is State owned but paid for by peasants in public housing estate).

    IN SUMMARY, THE 3G IS A TOTAL FAILURE after 15 years. 4Gs been around for 8-10 years, what reformist agenda or achievements have they ACCOMPLISH or even trumpeting of propaganda for public entertainment?

    ZILCH.

    They are even more CLUELESS of 3G. Their excited utterances speaks volume of public stand-up theatre comedy show.

    All that YOU HAVE DONE here in this thread is to preach NORMATIVE as if it is reality. What happen to 200 banks with $2 trillion of assets – read EXPOSURE RISKS? You gone MUTE?

    FICTION!

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  • increase of wages:

    //Today we are one of the richest country on earth…Today we are the fourth largest financial centre in the world.The 200 banks operating here have a total asset of around USD 2 trillions, so we can’t afford to have political risk and policies otherwise these money will pull out.//

    so what lar ? you rich does not mean many daft sinkies also rich lar. rich still 30% hike in water. still hike in electricity and transport hor. rich still gst increase. perhaps this kind of mathematical equation is difficult to understand.

    have you heard one white plp idiot saying increase COL good becos it means increase wage for others and it is a good thing. with this kind of logic and your one-sided marketing, no wonder there are so many daft sinkies still sleeping quite soundly.

    why not this white idiot asks the garment to transfer $$$$ (a higher cost to the garment) to all the sinkies and treat it as a good thing and as an increase of wages to sinkies.

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  • Haigen-diaz:

    @ oxygen @ Rabble-rouser @ Sporean is wise

    This column is a perfect example of why economists, not political reporters should be sent to cover campaigns. And, of course, the type of government dysfunction that is resulting from all this crisis-focused governance is exactly what the PAP, now run by military folks are drowning in a bathtub. With a few exception, there is no one in the 4Gs who could, when asked, articulate cogently what the PAP credo is. That is how incompetent they are when questioned on substantive matters of policy for their depth of knowledge and you get a sense of the depth of their nincompoopism. It gets worse as you go down the roster, to people like Charles Chong, Seah Kian Peng & company which could not exist without an enormous propaganda operation devoted to misinformation and disinformation designed to undermine democratic government. This collection of numbskulls has one thing in common – whether in Parliament or in the cabinet – they all take their orders from their “aristocrat-in-chief” surrounded by his assorted incompetent underlings. This is the party of vote gerrymandering, Govt/corporate cronyism, endless, brainless obstructionism and economic sabotage, all dressed up as flag-waving patriotism. As voters, for decades now, we have compromised ourselves by always voting our fears. We’ve been voting for least worst, rather than best for all of us. So, here we are, facing two dynastic choices, each no less beholden to moneyed cliques, each no more committed to the ideas that past greats put into action. Looking forward to the next 2 years? I am! We have front row seats to the greatest political saga in the world. And, of course, the type of government dysfunction that is resulting from all this crisis-focused governance, one could say we’re crazy!

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  • Sporean are wise:

    Increase in wages
    /////why not this white idiot asks the garment to transfer $$$$ (a higher cost to the garment) to all the sinkies and treat it as a good thing and as an increase of wages to sinkies./////

    Ask the government to transfer money to all sinkies ?
    Drain away our reserve ?Don’t collect taxes?
    Recently 77% of the Swiss rejected a referendum that guaranteed them a income and their economy is much solid then our’s.

    You want to bankrupt our government and make S’pore collapse ? Like Turkey ,Argentina ……now

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  • S'porean are wise:

    Rabble-rouser
    /////A fear-tinged Economic Narrative that calls for stability & “Not Rock The Boat” is a no logic (brainless) argument which benefits the elites while condemns the masses to a life of slavery & severvitude. And there are many in S’pore who lack dreams, ambition & aspirations to be better. Or else how can one boast “we are one of the richest country on earth” yet in their pockets, they’re penniless? What I’ve said, aren’t my words correct/////

    S’porean pocket penniless ?
    https://www.todayonline.com/singapore/sporeans-took-average-52-trips-last-12-months-criteo
    You read this and judge yourself .

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  • oxygen:

    @ Sporean are wise

    THAT IS ANOTHER FOOLISH TALE OF MISINFORMATION from you. Switzerland has one of the highest foreigner mix in its population in the world. It is about 25% and once settled into a job, they are entitled to IMMEDIATE ACCESS TO SOCIAL SECURITY. Here is my proof:

    https://lenews.ch/2017/06/08/swiss-government-to-look-at-reducing-foreigners-rights-to-social-welfare/

    Proposal to make non-EU arrival to wait for 3 to 5 years to be entitled to social security have been rejected.

    NOW IF SWISS GOVT GRANTED THEM GUARANTEE INCOME, foreigners will flood in to receive the same income guarantee and this will have to fund from savings of Swiss nationals which comprises 75% of the population mix.

    Sporean are wise: Recently 77% of the Swiss rejected a referendum that guaranteed them a income and their economy is much solid then our’s.

    You want to bankrupt our government and make S’pore collapse ? Like Turkey ,Argentina ……now

    So your comparison of Swiss example with Lee-jiapore and Turkey and Argentina is ANOTHER FART OF YOUR NORMATIVE FICTION to deceive dumb peasants.

    HOW COME YOU SILENT ON THE LAND RECYCLING POSER of HOAX BLUFFING PEASANTS I ASKED of you on climate change reducing land availability in LEEjiapore to no bigger than Bukit Timah??

    NO NEED TO FEED FAKE NEWS AND DIAM DIAM DIAM ON REALITY TRUTH in TRE. It is easy for us to deflate your fake morality and bubble of fictional tales.

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  • oxygen:

    @ S’porean are wise

    MATE, YOU ARE STUPID TO IMPOSSIBILITY – too stupid to even begin to discover you are stupid to impossibility trying to deceive @ rabble rouser with this hoax of carefully cultivated brevity in deception.

    Your post comment (deliberately???) silent on details but inviting @ Rabble rouser to read and judge for himself -YOUR TODAY ONLINE WEBLINK READ SAYS SINGAPOREAN TOOK AN AVERAGE 52 trips last year. WOW almost one trip per week on an average. The implied of your brevity is SINGAPOREANS MUST BE VERY RICH, IDLE, PLENTY OF VACATION TIME AND NO NEED TO WORK.

    If you opened up the weblink – and I did – it reads DIFFERENTLY. It says average Sinkies made 5.2 trip outside Singapore i.e. 1 in to weeks. So your brevity is a DISTORTION OF CULTIVATED EXAGGERATION at minimum.

    The todayonline article assumes incorrectly that 5.2 trip is for vacation. There are lots of Sinkies who travels to Johore for food, eatery and shopping, even fishing in coastal waters. Some goes every other days for varied reasons, and if family of 5 goes together, that blows up the statistical average. And it didn’t say the average is only referring to adults with passport, so average of 5.2 trip PER SINGAPOREAN IS EXAGGERATION.

    SO YOU PILED EXAGGERATION ON TOP OF EXAGGERATION.

    S'porean are wise: S’porean pocket penniless ?
    https://www.todayonline.com/singapore/sporeans-took-average-52-trips-last-12-months-criteo
    You read this and judge yourself .

    I don’t think @ Rabble rouser is going to respond to your stupidity of SHALLOW PANDERING TO FICTION. The writing of @Haigen Diaz & @Rabble-rouser are TOO STEEP OF PROFUNDITY for you to comprehend, let alone to match of conversational intellects.

    One read of your weblink drives me to these possible conclusions :

    - you are one of the 70% too stupid to discover you are stupid to impossibility. or

    - you are a paid PAPpy IB to further fake news misinformation or

    - you are a brainwashed PAPpy grasslooters or

    - you are trapped with underwater mortgage fearing that a political upset sends foreigners fleeing and the property market crash decimate your economic survivability, so no matter what lies you can pedal or fake, you side with PAPpys blind, wrong and even living in your own bubble of fiction.

    BUT FEAR NOT, MATE, THE CRASH WILL COME IN FINANCIAL MARKET – all assets will be severely priced down including my own trapped ones ( I am ready to smile at big losses), are you ready to face reality?

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  • who bankrupt who:

    //Recently 77% of the Swiss rejected a referendum that guaranteed them a income and their economy is much solid then our’s.//

    alamak. swiss more advanced & more homogeneous lar – good culture of transparency, accountability and minimum abuse lar.

    sinkie land ? not so homogenous lar (open-leg policy with many types of chat-ba-lang people namely from chat-ba-lang culture in the surrounding region), twist and turn mentality (just like ownself-check-ownself where 4 = 5, selected = elected).

    //You want to bankrupt our government and make S’pore collapse ? Like Turkey ,Argentina ……now//

    don’t joke lar. bankrupt our garment ? highest paid in the world leh. don’t tok too much kok lar.

    thought some white idiot here said that sinkie land very rich. rich yet increase in water price (30%), electricity, tpt and also going to increase gst. now who bankrupt who ?

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  • collect taxes sure can:

    //Ask the government to transfer money to all sinkies ?
    Drain away our reserve ?Don’t collect taxes?//

    draining the reserves ? when it comes to paying high high pay (highest in the world) the white idiots and the whole plp gang, this does not constitute draining the reserve hor ?

    don’t say drain reserve lar, treat it as a good thing for an increase cost in turn for the increase of wages to sinkies lar. not good thing meh ? your friendly white idiot said one hor.

    collect taxes sure can lar. but when it comes to an glaring extent that it starts to pinch on a lot of average people, that’s when people who don’t normally kpkb will start to take notice and start to kpkb very loudly lar.

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  • defined as alive:

    //S’porean pocket penniless ?
    https://www.todayonline.com/singapore/sporeans-took-average-52-trips-last-12-months-criteo
    You read this and judge yourself .//

    this kind of wayang statistics you believe huh ? – especially when it comes from highly ranked 152th standard.

    have you come across a very famous ‘statistical’ outcome where more train breakdowns could translate into more reliability. if you have wayang statistical matrix and parameter, even a dead man can be defined as alive lar.

    go and pick up randomly 10 people in the street lar – see whether they take 5.2 trips or lot. most importantly, the sample population (wayang ?). does it include many multiple trips made by businessmen for their work and many trips by average households to our northern neighbour to get cheaper groceries.

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  • Sporean are wise:

    Who bankrupt who
    ////sinkie land ? not so homogenous lar (open-leg policy with many types of chat-ba-lang people namely from chat-ba-lang culture in the surrounding region), twist and turn mentality (just like ownself-check-ownself where 4 = 5, selected = elected).////

    Open leg policy ?
    S’pore citizen is around 3.5 million.
    1 million are baby boomer. Our birth rate is around 1.3.Nearly 40% of the baby boomer already reach 65years old many already retired.
    S’pore depend on manpower to make a living.Today our population is around 5.7millions.
    If we don’t have these foreign workers,many business won’t be here many factories won’t be here even our financial centre status will disappear.
    There will be less jobs opportunities less business opportunities for us.

    //////thought some white idiot here said that sinkie land very rich. rich yet increase in water price (30%), electricity, tpt and also going to increase gst. now who bankrupt who ?////

    As we have limited land to built more reservoirs and often we will threatened by our Neighbour to increase raw water price .Now we depend on more costly to produce new water and desalinated water and water is our life line. If not properly price one day we will run out of water.We are more conscious now , you go many coffee shops toilets or many other toilets now the water tap no more flowing like before more like urinating.

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  • oxygen:

    @ Sporean are wise

    THARMAN SHANMUGARATNUM TOLD A GATHERING OF INDIAN POLITICIANS in front of foreign media in New Dehli in 2017 this – Leejiapore dependent of foreign influx to keep its economy afloat IS BOTH POLITICALLY AND ECONOMICALLY STUPID.

    That is why we are in a mess now.

    Sporean are wise: S’pore citizen is around 3.5 million.
    1 million are baby boomer. Our birth rate is around 1.3.Nearly 40% of the baby boomer already reach 65years old many already retired.
    S’pore depend on manpower to make a living.Today our population is around 5.7millions.
    If we don’t have these foreign workers,many business won’t be here many factories won’t be here even our financial centre status will disappear.
    There will be less jobs opportunities less business opportunities for us.

    and

    Sporean are wise: As we have limited land to built more reservoirs and often we will threatened by our Neighbour to increase raw water price .Now we depend on more costly to produce new water and desalinated water and water is our life line. If not properly price one day we will run out of water.We are more conscious now , you go many coffee shops toilets or many other toilets now the water tap no more flowing like before more like urinating.

    We don’t need so much water with a smaller population. Graphite technology now makes sea water desalination a lot more efficient and cheaper.

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  • Python 5:

    66% voted for PAP in GE2006.
    60% voted for PAP in GE2011.
    and
    70% voted for PAP in GE2015.

    All because of the overwhelmingly fake euphoria of SG50, SG50 babies and the demise of Lee Kuan Yew.

    Where is all that SG50 euphoria now??

    Where is all that sympathetic weeping and mourning for Lee Kuan Yew gone to now??

    Just look at your CPF and your HDB flat value.

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  • Let's Do The Raffles Way!:

    Vote in as many Opposition MPs as possible and create a Balance Parliament!

    Let’s be brave for once and vote wisely once in 200 years!

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