PM, PAP should remember what world’s richest man said

Given former PM’s comments his comment that those in the private sector earning less than $1m are “very mediocre people”, it’s surprising that the PM and the PAP are ignoring what the world’s richest man said

“Experiments are by their very nature prone to failure. But a few big successes compensate for dozens and dozens of things that didn’t work,” said Mr Jeff Bezos in 2014.

FT

I was reminded of this when I read

Mr Alfred Tan said that the PAP still refuses to acknowledge the policy blunder [about HDB leases]. He said that one of the key basic disciplines in problem solving is admitting that there is a problem. Only when there is an admission of misjudgment can the first step be taken towards a real and meaningful resolution and rectification of the problem.

“Is the PAP government prepared to man up and admit this misstep?” Mr Tan asked.

http://yoursdp.org/…/sdp_calls_out_out_of_t…/2018-09-08-6257

Dr Chee

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor.

 

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27 Responses to “PM, PAP should remember what world’s richest man said”

  • Anyhowtalk:

    To make one rich man, you need to suck the blood of one million people.

    To make a rich govt, you need to send an entire nation to hell through fear and stupidity.

    And to make one rich nation, you need to rip off many other nations beside raping their women.

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  • Majulah PS, matilah clown pap:

    now that every HDB rentee knows his multi kilo dollar HDB is kosong at end of lease, and not the asset enhanced when clown pap is in power, the ire against clown pap is so severe clown pap has called emergency meeting with the heads of its pap PA paid IBs to find ways and means to remove the heat.

    so the charade continues. every clown pap PA paid IB is doing one of two things. the high ranked ones continue to BS the asset aspect of HDB, avoiding the 99 year kosong message but continuing with the HDB value can go up even at 50+ years message. the low ranked ones, especially the one who is tasked to write in TRE, such as the siglap lodger from malaysia ci the former insurance sales agent, continue to write nonsense which even his gand child cringes.

    but why the high ranked and low ranked both equally despicable?

    well. without pap PA cents, these malaysians cannot survive in high dollar Singapore or send ringgits back to their kampungs.

    anyway, their stay in Singapore is cut short. as soon as GE2019 is over, they run road balek kampung to Dr Mahatir whom they have been bad mouthing. we hope to reveal their identities to Dr Mahatir so that he can cancel their citizenship rendering these souless running dogs stateless.

    yay yay yay. at least one cheap sale landed property in Siglap soon.

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  • Malaysia boleh Singapore bodoh:

    Straits Times: Parliament: Private developers may have a role in redeveloping older flats for Vers, says Lawrence Wong

    Lawrence Wong on “damage limitation” mode after he told the TRUTH (that HDB flats are worth ZERO at the end of the lease). Like LHL he is now talking about VERS, a “pie-in-the-sky” since it is at least 20 years away, to distract Singaporeans to the fact that their HDB flats are depreciating daily as the remaining lease gets shorter and shorter.

    BTW, LKY did not lie when he said the price of HDB flats will never go down. It is true BUT he was referring to new HDB flats built by HDB. Of course, it will be priced higher than the flat launched earlier because it would have a full 99-year lease and inflation. Typical PAP he told a “half-truth” to mislead. PAP likes doing this because it cannot be accused of lying. Singaporeans stupidly thought LKY was referring to flats already owned by the public. A 99-year lease makes an HDB flat a depreciating asset. This is common sense. Being mostly daft Singaporeans have no common sense.

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  • oxygen:

    PAPpys HIRED SCHOLASTIC ROBOTS – filled with fast outmoded rubbish (aka knowledge) BUT NO WISDOM and certainly KNOWS NOTHING ABOUT THE REAL WORLD OUTSIDE.

    Put to the test, they FAILED, FAILED AND CONTINUED TO FAIL – and in that journey of stumbled futility or incompetence displayed, the WHOLE MOB till now have NOT discovered their CPF/HDB policy pillars has disintegrated. They can’t see how their asset enhancement politics scam can NEVER WORK and GOING TO BACKFIRE TO COMPLETE COLLAPSE like now peasants are seeing of happening.

    HOW ON EARTH CAN GREAT SCHOLASTIC MIND BE SO STUPID THAT YOU SOMEHOW CAN CREATE WEALTH simply BY ESCALATING LEVERAGE OF ASSET (property) BUBBLE i.e. inflate the housing bubble and let peasants leveraged up borrowing from their mouth to anus and ALL OF THEM WILL FEEL RICH even if they are DEBT LEVERAGE RICH in reality.

    I discovered by accident of this accounting formula

    A – L = Equity

    So if you increase your Liability (L) without increasing your Asset (A) by exertion of productive effort, your wealth (Equity) is going to decline over time because of diminishing time value of money.

    And if your A falls as a result of bubble burst of A funded out of massive escalation of L – it is double-barrel of a killer punch on your stupid head. You are heading for the bankruptcy door.

    APPARENTLY GENERATIONS OF PAPpys scholastic robots either didn’t see this or they are such low down scum tricking peasants to their asset enhancement scam in exchange for votes. I remember 2011 GE, every PAPpy slimy worms are promising heaven on earth waterfront HDB housing in Punggol to Suzhou in LEE-jiapore water canal living – another Venice of the East fiction. The down to earth opposition can’t make such scam promises lose out BECAUSE 70% of the peasants are too stupid to even begin to discover they are stupid to impossibility.

    Such is the tragedy of comedy of Sinkies in LEE-jiapore Land. PAPpys live up to their promises of FIX the opposition and BUY supporters votes. Lot of peasant monkey (as if just emerged out of the jungle trees of stupidity naivety) simply CLAP CLAP CLAP and vote for the monkeys believing that monkeys can deliver miracle in this formula of “buy-property-vote-pappy”

    THE HERD MENTALITY SUNK IN, SOME OF THE MOST STUPID ONE KEEP LEVERAGED WITH HIGHER AND HIGHER UPGRADING AND ITS ASPIRATIONS. Their children discover housing unaffordability and they TRAPPED UP at the highest branch of the tree perching on thin branches waiting for economic cyclone to sweep past and send them crashing to bankruptcy death fall next.

    WELL CAN’T BLAME DUMBFARKED PAPpy monkeys, a lot of more stupid peasants abetting their stupid scam.

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  • HarderTruths:

    Why admit to something when there is no need to?
    Will they get kicked out tomorrow if they don’t?

    People need to understand the welfare of citizens means nothing to these evildoers.

    As long as they are elected and stay elected that is all they care about. Anything else that keeps them in power is justified.

    As long as $G voters think the evildoers can be reasoned with – there will be only misery for this island of slaves.

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  • waste of time zzz:

    million-dollar politicians yet cant even explain the hdb 99 years lease issue to the common folks? hip hip 2 vers sers all these will become 0 at the end of 99 years. stop bluffing us. time to boot them out! jiak liao bee..

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  • rukidding:

    I find it “very shameful” indeed of EM Goh to even suggest more pay t his team ?

    How ridiculous of them to “ask for more pay” using the Private sector as the yard stick ????

    How shameful for them then to conveniently “omit” the fact that THEY STILL ENJOY PENSION at the SAME TIME ????

    Which Private sector would pay you obscene salary and some more “add in” Pension to”support” you till your death ????

    EM Goh and his team is really wanting to “ENJOY” the Best of both World and had conveniently “forgot” to tell the Tax Payer that they have PENSION too ????

    How “shameful” indeed !

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  • IamMediocre:

    https://www.channelnewsasia.com/news/singapore/singapore-minister-pay-salary-performance-bonus-10702046

    Average performance bonus
    2013 – 4.3 months
    2014 – 4.2 months
    2015 – 4.4 months
    2016 – 4.3 months
    2017 – 4.1 months

    It seems like PAP making a mountain out of molehill, citing their performance bonus to be a five-year-low. What is a mere 0.1 to 0.3 month of one’s salary?

    The truth is we ordinary mortals in living in our Ivory Tower, unable to comprehend the pain of these talented Ministers losing 0.1 to 0.3 months worth of bonuses.

    Drawing only a 4 digit salary, there is no way we can understand their pain of losing 5 digit worth of bonuses from their 6 digits salaries. Ministers are really not paid enough, choosing not to earn millions outside and suffer 5 digit losses to their bonuses.

    All these mediocre people needs to be educated and constantly reminded that our Ministers are not paid enough. If we do not pay Minsters enough, people like them will become Ministers.

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  • Anon:

    @Majullah PS, matilah clown PAP:

    Ha ha! You obviously know something more about CI that you are not letting on; Malaysian lodger in Siglap?
    How very interesting!

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  • Pinkysucks:

    Trump created millions of jobs and made USA great again….
    But Pinky the eunuch gave away millions of jobs and made SG 3rd world again.
    Pinky Boleh! PAP Boleh!

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  • Haigen-diaz:

    Demagoguery is in its finest flowering, at both ends of the political spectrum. One end is our 151st press ranking index, the other is CI’s BS gas manometer perpetuating the myth that PM, PAP is somehow a success despite their bungling on the nation’s economic outlook. It should be obvious that over the years they have been either dull in their intellectual acumen or emotionally unstable to a dangerous degree. Being world’s richest or highly paid politicians doesn’t mean one is virtuous or right. CI is feeding on public delusion that being rich equals being smart and competent. We’re now already living in a la la land democracy where the richest among us call the shots and many scrape the crumbs from their table. PAP Govt. may not be in danger of falling anytime soon, but the incessant bellowing about their achievements rings as hollow as most of CI’s inanities—-if one cares to honestly examine them.

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  • Rabble-rouser:

    @ oxygen:
    Brilliant expose of what is actually WEALTH! S’pore concept of wealth as concocted by the PAP is a FALSE PROSPERITY DOCTRINE that fools the less intelligent (locals) & create fake images to the incoming outsider (the foreigners) to participate in this silly game.
    Property investments in S’pore will always be & were in reality, a GREATER FOOL GAME (or a PONZI SCHEME). The early birds catches the worms but the later ones would be caught & roasted for food at the end.
    In reality, there’s no fundamental wealth creation means in S’pore. Which is why I said previously there were no ECONOMIC BACKBONE within our S’pore Economy. All the symbols of wealth in S’pore were mirages (basically unsustainable) – property, real estate, brick ‘n Mortar structures, cars (with 10 year COEs), etc. Even the highly valued SG$ (it’s purchasing power) depreciates at a high rate due to PAP’s penchant for cost-push inflation & low return regime on savings (CPF, bank deposit rates). To conjure an image of wealth, S’poreans resort to conspicuous consumption (like Crazy Rich Asians) & do a YOLO lifestyle using huge amounts of debt. S’pore under the PAP can do it because the MAS is using their SG$ stable exchange policy to drawn in huge amounts of foreign direct capital to fund these asset & pricing bubbles. But what S’poreans see as an economy, I see only crony capitalism, profiteering, rent-seeking activities & wealth-transfer mechanisms (to the govt). It is not wealth!

    oxygen: HOW ON EARTH CAN GREAT SCHOLASTIC MIND BE SO STUPID THAT YOU SOMEHOW CAN CREATE WEALTH simply BY ESCALATING LEVERAGE OF ASSET (property) BUBBLE i.e. inflate the housing bubble and let peasants leveraged up borrowing from their mouth to anus and ALL OF THEM WILL FEEL RICH even if they are DEBT LEVERAGE RICH in reality.

    I discovered by accident of this accounting formula

    A – L = Equity

    So if you increase your Liability (L) without increasing your Asset (A) by exertion of productive effort, your wealth (Equity) is going to decline over time because of diminishing time value of money.

    And if your A falls as a result of bubble burst of A funded out of massive escalation of L – it is double-barrel of a killer punch on your stupid head. You are heading for the bankruptcy door.

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  • PervertsAccostingPeople:

    PAP has created the most PERVERSE generation EVER in their outward deceptive appearance/achievements. Woes to your children.

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  • Rabble-rouser:

    @ oxygen:
    Worrisome, mate! Trump’s trade wars with everyone; extreme weather patterns that will send the whole world into the Dark Ages. Look at the emergence of the Far Right movement in Europe – Sweden the latest to parachute an Anti-Immigration Political Party into Parliament. In truth, the border controls & erected barriers are starting emerge to prevent economic migration. Taking into perspective, each nation is taking care of their own while jettisoning the outsiders & ‘jiak-leow-bees’ into the outside & to the fringes.
    I am continually amused with the PAP’s senseless & tone-deaf population growth policies with their knock-on effects, trickle-down benefits of asset enhancement policies & a consumptive economy (Eat-N-Shite GDP Economy) by using pure numbers.
    PAP’s policies, strategies & tactics are static, “cast in stone” while the world is fluidic & rapidly shifting. 3 things are becoming evident but the PAP were oblivious:
    1. TRADE WARS will reduce global trade flows aka GLOBALIZATION. The knock-on effects would be GDP reduction, escalating inflation due to higher tariffs & reduced financial investments (shrinking the FINANCIALIZATION EFFECT from Wall Street & Global Banks);
    2. EXTREME WEATHER PATTERN – effecting food production; resulting famines, starvation, higher food prices & massive displacement of people yet emerging barriers due to politics preventing large scale migration;&
    3. GROWING INTOLERANCE, LESS HUMANISTIC FEELINGS – People in wealthy nations were becoming less generous & more scathing of outsiders. Tolerance is in short supply & the politics is shifting towards the FAR RIGHT with insular attitudes (Anti-Immigration, mass deportation, offshore detention) & beggar-my-neighbour attitudes (trade wars, trade embargoes, financial restrictions, etc).
    Yet the PAP & S’poreans were still embedded within a distant past (no longer existing); remotely & cocooned within an Artificial Comfort Zone oblivious to the world outside & pursuing outmoded policies, strategies & tactics. How did it happened?

    oxygen: PAPpys HIRED SCHOLASTIC ROBOTS – filled with fast outmoded rubbish (aka knowledge) BUT NO WISDOM and certainly KNOWS NOTHING ABOUT THE REAL WORLD OUTSIDE.

    Put to the test, they FAILED, FAILED AND CONTINUED TO FAIL

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  • Theodore Roosevelt says:

    “Appraisals are where you get together with your team leader and agree what an outstanding member of the team you are, how much your contribution has been valued, what massive potential you have and, in recognition of all this, would you mind having your salary halved?”

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  • oxygen:

    @ Rabble-rouser

    FALSE PROSPERITY CONTRAPTION INDEED – and believe me, it is getting WORST now.

    Those early birds are NOT winners in the property ponzi game. There is only two outcome possibilities for “lucky rich en bloc” fortune strikers. Either they

    - upgrade to even more expensive trophy ( I call it urn) of same size but more expensive on market buy (as they can’t sleep on the street until next new development they bought is ready for occupation) or

    - they downgrade to buy a few HDB resale flats for their children (in effect a depreciating liability to zero at end lease) giving back to PAPpys what they got of en bloc “success”.

    BOTTOMLINE IT IS A STUPID RAT CHASING ITS OWN TAIL.

    Rabble-rouser:@ oxygen: Brilliant expose of what is actually WEALTH! S’pore concept of wealth as concocted by the PAP is a FALSE PROSPERITY DOCTRINE that fools the less intelligent (locals) & create fake images to the incoming outsider (the foreigners) to participate in this silly game.
    Property investments in S’pore will always be & were in reality, a GREATER FOOL GAME (or a PONZI SCHEME). The early birds catches the worms but the later ones would be caught & roasted for food at the end.

    Remember this – the property ponzi of asset enhancement scam is the fabricated construction of multi-million-paid-scholars (begging of “badly underpaid sorrow of misfortune”) debunked by peasants either earning a fraction of mediocre pay of <$500K per annum in cyberspace.

    SUCH IS THE INTELLECTUAL QUALITY DEFICIT OF COMPARISON of aristocrats and peasants' intelligence.

    The aristocrats meantime has concocted another scam – MASSIVE IMPORTS OF FOREIGNERS to make the street looks busy, food court crowded, MRT overload to give an impression this place is rich and bustling. But the reality is that only a faction of 1% eat out in food-outlets of fancy meals and most peasants finds it hard to put fruit/vege and even pork on the dinner table for their family. The foreign influx create artificial pressure of demand driving up supermarket food prices faster than stagnant wage levels (if still employed) can comprehend. Foreign visitors seeing how this place SO EXPENSIVE AND BUSTLING FOOD COURT IMAGINE THIS PLACE IS FILTHY RICH instead of desperately poor struggling with unbearable mortgage to be reduced in the future to zero value and buried in that coffin even their retirement savings.

    INNOCENT PEASANTS ARE LIVING ON BORROWED TIME AND THEIR BORROWED CPF WEALTH NOW.

    The foreign population influx BUBBLE is a LOT WORST ECONOMIC SCAM than asset bubble which find DUMB suckers.

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  • waste of time zzz:

    these miw are truly in a league of their own with multi-million dollar salaries and all sorts of bonuses. how can they see things at the ground level and craft policies that will benefit the low-income folks like you and i?

    @ Rabble-rouser

    1. trade war & 2. extreme weather patterns will trigger a recession soon. can see that the miw is distracting us with all sorts of things and turning a blind eye to macroeconomics. what a sad country…

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  • Haigen-diaz:

    @ Rabble-rouser

    We are nearing a perfect storm of helplessness and doom. It is the PAP’s essence of neurosis to repeat what worked in the past, in the vain hope that next time it will. What a ridiculous basis for an economy! The materialism of our culture is already out of control, and the corporate structure that has encouraged it is bankrupt, literally and morally. This system is bust, and we have to bust it. May as well happen sooner than later. . Let’s hope it’s not too late.

    Rabble-rouser:
    Yet the PAP & S’poreans were still embedded within a distant past (no longer existing); remotely & cocooned within an Artificial Comfort Zone oblivious to the world outside & pursuing outmoded policies, strategies & tactics. How did it happened?

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  • old man:

    We should appraise them and recommend the award. Unfortunately they appraise themselves and award themselves..is’nt this abused of office power?

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  • Haigen-diaz:

    One of the monetary fatalities of this trade war is the international role of the U.S. dollar. Given China’s currency having become part of the SDR (Special Drawing Right) basket the tendency will be towards a larger role of SDRs reducing the U.S. dollar’s transactional role. Its reduced role as reserve currency will happen later on when the vitality of US economy with its Laffler curve supply policy and the counter trade measures is reduced together with the value of its currency. The gap between Chinese goods imported to the United States and American goods exported to China rose to $375.2 billion last year, up from $347 billion the prior year. The overall United States trade deficit in goods and services with the world widened 12.1 percent to $566 billion last year, the largest gap since 2008. China can cause a dramatic increase in interest rates for U.S. debt instruments by briefly interrupting their purchase of those instruments, even more by dumping 5% of their holdings onto the international market. This would cause a dramatic escalation in the cost of servicing our own exploding debt, thereby triggering a crippling budget crisis. Foreign interference or influence will destroy the delicate balance between a nation’s vision of itself (aka Malaysia) and its place in the world. Singapore is no exception. Right now, it’s going to be interesting to see how far countries like China and India can push international financial reform and how much further ground the US will lose. We’re losing retail jobs because our middle/working class don’t have disposable income like previous generations did. More jobs means that grocery stores will not close, more restaurants will not close, more malls will not close, more rentals will not be vacant, more homes will be sold, more people could pay their mortgages, retail sales will go up. So many ancillary businesses will benefit. Empty stores, people pinching pennies. The next big fall will be large box stores going under. They, too, were greedy with one built on every corner. How many do we need? And they all carry the same merchandise. Higher prices combined with high indebtedness may have shown consumers that they actually don’t have the money to keep spending.

    Rabble-rouser: . TRADE WARS will reduce global trade flows aka GLOBALIZATION. The knock-on effects would be GDP reduction, escalating inflation due to higher tariffs & reduced financial investments (shrinking the FINANCIALIZATION EFFECT from Wall Street & Global Banks);

    oxygen: The aristocrats meantime…

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  • Haigen-diaz:

    Cont’d…

    -Higher prices combined with high indebtedness may have shown consumers that they actually don’t have the money to keep spending. That’s how the mass importation of FTs with jobs & high pays replaced the local consumers to keep up this facade of prosperity. What the present costs of living do present us with is a choice of how we would like our future to look. In essence, we have two options. We can continue to try to maintain our current ways, which rely on material wealth as the primary determinant of success in our society, which relies on measures like GDP to determine whether our country is doing well or poorly, and which favors use of resources over efficiency and conservation. Down that road is the continuation of our current way of life for a decade or two at most, followed by exponential expense for the resources we need, including increased economic strife. Or, we can take a different approach, in which we use our current position. This approach would involve maximizing efficiency to the greatest extent possible, so that we can do more with less. It would also mean focusing on investing in the energy technologies of the future, so that we can continue to obtain energy while minimizing our reliance on limited resources. And it means beginning to measure our value as individuals and as a society on things other than simple economic prowess. The choice here is currently ours, but with commodity prices rising as the rest of the world starts demanding the same resources we are currently addicted to, time is running short.

    oxygen: The aristocrats meantime has concocted another scam – MASSIVE IMPORTS OF FOREIGNERS to make the street looks busy, food court crowded, MRT overload to give an impression this place is rich and bustling. The foreign influx create artificial pressure of demand driving up supermarket food prices faster than stagnant wage levels (if still employed) can comprehend.
    INNOCENT PEASANTS ARE LIVING ON BORROWED TIME AND THEIR BORROWED CPF WEALTH NOW.
    The foreign population influx BUBBLE is a LOT WORST ECONOMIC SCAM than asset bubble which find DUMB suckers.

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  • Rabble-rouser:

    @ Haigen-diaz:
    S’pore’s economic model as devised by the PAP had a fundamental flaw. They promote a Paramount State Philosophy (thus creating Political Aristocracy & ‘Fake’ Elites through PAP Meritocracy Policy) while harbouring a secret desire to enslave & impoverished the masses through wealth-transfer schemes eg. HDB flats, 10 year COE for cars, the rent-seeking activities & profiteering philosophy of ‘big’ state-connected businesses & the GLCs, etc. All done to promote their political longevity. But seen in a harsh light, it is nothing but a parasitic mechanism that prevails AS LONG AS THE HOST DON’T DIE. If the HOST dies, all bets are off like Zimbabwe & Venezuela (political & social chaos)!
    The symptoms that you’ve just described were the host (the masses) dying! Through political helplessness of the electorate, the PAP & their crony capitalism exhibit unbounded Elitist greed (NKF CEO salary $600k ‘Peanuts’; Pay<$500k 'mediocre', ridiculous 4 mths 'Performance' ministerial bonus, etc). The 2018 NDP speech ranks as the ultimate in 'talking down' asking people to exercise austerity as if they're stupid & financially irresponsible. The sick joke was that stupidity had reached the top as the political aristocrats & the elites weren't even aware that the silly policies (high Ministerial pay) & wealth transfer schemes (HDB, COE, etc) they had concocted were responsible for the sick condition of S'pore's Economy. They were in denial!

    Haigen-diaz: We’re losing retail jobs because our middle/working class don’t have disposable income like previous generations did. More jobs means that grocery stores will not close, more restaurants will not close, more malls will not close, more rentals will not be vacant, more homes will be sold, more people could pay their mortgages, retail sales will go up. So many ancillary businesses will benefit. Empty stores, people pinching pennies. The next big fall will be large box stores going under. They, too, were greedy with one built on every corner. How many do we need? And they all carry the same merchandise. Higher prices combined with high indebtedness may have shown consumers that they actually don’t have the money to keep spending.

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  • Haigen-diaz:

    @ Rabble-rouser

    Bro,
    The odds are increasingly stacked against peasants who isn’t highly adept at gaming the system. They are not guiltless, how has “inequality” become the term of art? We need to harp about income inequality to keep score in this battle. The pegging of Ministerial salaries/bonuses to GDP/top CEOs. It was and remains the 69.99% electorate’s willingness to blithely hand these people the metaphorical keys to our national coffers while shrugging their shoulders and counting their own afflictions and growing cynicism about our system of government. Unless the voters rise to the occasion, recognize that there vote counts and start holding politicians accountable we will not see the change needed. But I still don’t see how to bridge the disconnection between the enormous damage being done and Singaporeans’ apathy until now.

    Rabble-rouser: The symptoms that you’ve just described were the host (the masses) dying! Through political helplessness of the electorate, the PAP & their crony capitalism exhibit unbounded Elitist greed (NKF CEO salary $600k ‘Peanuts’; Pay<$500k 'mediocre', ridiculous 4 mths 'Performance' ministerial bonus, etc).

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  • Rabble-rouser:

    @ Haigen-diaz:
    PAP’s preoccupation with using their State land holdings as a wealth denominator (eg. Govt Land Sales, Casino projects, Impressive monuments like The Esplanade, Gardens By The Bay, etc) & a recyclable wealth transfer mechanism for HDB housing scheme. It was a proven PAP money-making machine for the State & a wealth fund to pay for their high ministerial pay. That is why they continually focused on:
    1. Consistent spending on Infrastructural Works;
    2. Focus on Brick ‘N Mortar structures;
    3. Financialization of Brick ‘N Mortar assets into investment vehicle re: REITs, Property Trust, Kopi-tiam rent-seeking holdings, etc;
    4. Overwhelming investments into real estate in a poor & limited investment universe & a eco-system of low returns & regular investor setbacks (CLOB, S-Chips, Structure Investments eg. MiniBonds, O&M bonds default re:Swizer bonds) – by default, leaving only property as the sole investment avenue;
    5. Exponential population growth in order to keep property prices high re: Population White Paper target of 6.9 million (or to 10 million as Lui Thai Ker’s forecast); &
    6. No-brainer CPF scheme which corrals CPF monies into property purchases eg. HDB & private property.
    In a sense, All Roads Lead to Land & Real Estate Development.
    Unlike your thinking, the PAP mindset is firmly fixed with no U-turn options. We can’t go back to manufacturing because our costs are too high. We can’t even consider renewable energy because our land cost is too expensive. And we can’t slow down because the high PAP ministerial pay is configured for extracting maximum gains using the easy way re: selling 99 year leasehold land for maximum profits. NO WAY OUT! Mate.

    Haigen-diaz: we have two options. We can continue to try to maintain our current ways, which rely on material wealth as the primary determinant of success in our society, which relies on measures like GDP to determine whether our country is doing well or poorly, and which favors use of resources over efficiency and conservation. Down that road is the continuation of our current way of life for a decade or two at most, followed by exponential expense for the resources we need, including increased economic strife.

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  • Haigen-diaz:

    @ Rabble-rouser
    Your last sentence absolutely nails it. Wealth extraction at the expense of the peasants has become a world-wide phenomenon, something of a hobby for bored oligarchs looking for something to steal. Austerity policies like the GST hikes are designed to protect and increase their own wealth, and forces its maintenance onto all the lower income brackets. A group of legal, banking, socioeconomic experts can devise regulations to solve most, if not all, of the evils that you cites, supra. Somehow and someway, new variations on simple greed and stealing will continue. It’s time for a less passive kind of teachable moment: the power of an energized electorate defending their democracy.

    Rabble-rouser: the PAP mindset is firmly fixed with no U-turn options. We can’t go back to manufacturing because our costs are too high. We can’t even consider renewable energy because our land cost is too expensive. And we can’t slow down because the high PAP ministerial pay is configured for extracting maximum gains using the easy way re: selling 99 year leasehold land for maximum profits

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  • Rabble-rouser:

    @ Haigen-diaz:
    The Electorate’s problem is a mental issue, bro. One is the Wall of Fear that afflicts the majority of voters which causes them to vote for PAP by default & out of fear; the second one is the lack of voters’ economic confidence to embark on political change ie. “What can the Opposition do for me?” question that plagued (& cloud) many S’porean’s thinking. This despite clear evidence of PAP’s failing economic management & unworthy self-enrichment.
    In a way, it is a ride to the bottom for these people (hardship & even starvation) for those who can’t break the mental shackles that the PAP had devised. And even that is no guarantee that they will wake up from their slumber nor overcome their fear. Meanwhile, the political elites & cronies are laughing all the way to the bank with their ill-gotten riches. Clearly, there’s no justice nor a Merciful God who could arbitrate for the people.

    Haigen-diaz:
    @ Rabble-rouser

    Bro,
    The odds are increasingly stacked against peasants who isn’t highly adept at gaming the system. They are not guiltless, how has “inequality” become the term of art? We need to harp about income inequality to keep score in this battle. The pegging of Ministerial salaries/bonuses to GDP/top CEOs. It was and remains the 69.99% electorate’s willingness to blithely hand these people the metaphorical keys to our national coffers while shrugging their shoulders and counting their own afflictions and growing cynicism about our system of government. Unless the voters rise to the occasion, recognize that there vote counts and start holding politicians accountable we will not see the change needed. But I still don’t see how to bridge the disconnection between the enormous damage being done and Singaporeans’ apathy until now.

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  • Rabble-rouser:

    @ waste of time zzz:
    Once the High Ministerial Pay structure took control over the PAP minister’s focus & attention span, their insatiable greed consumes them. Nothing matters except the size of their pay packets & their over inflated sense of material worth & their economic privileges.
    Instead of doing good for the nation & making sacrifices for S’pore, they just pretend & extend; creating numerous distractions & performing Wayang scenes while collecting riches at every turn. It’s the end for S’pore!

    waste of time zzz:
    these miw are truly in a league of their own with multi-million dollar salaries and all sorts of bonuses. how can they see things at the ground level and craft policies that will benefit the low-income folks like you and i?

    @ Rabble-rouser

    1. trade war & 2. extreme weather patterns will trigger a recession soon. can see that the miw is distracting us with all sorts of things and turning a blind eye to macroeconomics. what a sad country…

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