Beware of power-hungry snake-oil salesmen

The ‘PM’ wannabe Mr Heng (who else?) has started his sales pitch and he is confident that there are enough gullible people to give him, and the elites the votes they need to continue the capture and manipulation of the state and its apparatus.

Unfortunately, he may not be all that wrong. When exposed to mainstream media brainwashing for years it is difficult for people to see through the veil of deceit drawn across their eyes, ears, and minds.

Some of his sales talk:

“First, winning and retaining the trust of Singaporeans remained the essence of government. And second, explaining the trade-offs and challenges we faced, and telling people the truth remained the essence of political leadership – even on difficult matters like population or tax or HDB leases.

I believe that trust between the people and the Government is absolutely essential. And the best way to win your trust is to first trust you with the truth – no matter how hard or unpopular.”

What ‘trust’ is he talking about? Has he addressed the issue of why the Dishonourables are still holding (and will continue to cling onto) key appointments?

Has he addressed the issue of why people are unable to withdraw their CPF money as was promised years ago, and that the age at which it can be utilised by people according to their wishes is such that they may be able to do so only in the after-life (the elites must assume it is possible which is rather disturbing)?

Many sadly believe that they have been nationally hoodwinked on the CPF withdrawal age–these are citizens who trusted the ruling party’s promises/guarantees.

Has he spoken of why he wholeheartedly supports the disgraceful Fake News laws?

He waxes lyrical with:

“A contestation of views and ideas is good for Singapore. But it can also divide us. Singaporeans can end up living in self-enclosed silos on social media, perpetuating their own versions of reality in narrow echo chambers.”

Has Mr Heng, who clearly has an inability to control what comes out of his mouth like Mr Milquetoast (current ‘PM’), asked the ruling class’ supporters not to rant and rave against those who criticised his boss for his bizarre comments that upset neighbouring states and their citizens, recently?

Is Mr Heng even vaguely aware of the fact that the ruling party, and the mainstream media, are his and the ruling class’ echo chambers? Their much larger and cavernous echo chambers are as vacuous as they are reflective of the Hollow Men that ‘lead’ Singapore.

Meanwhile, we need to uncover what is in our political Underland.

How long will we allow a group of elites to control the country, and keep us from the natural biodiversity we need in our national and political environment?

We must allow our democratic wishes and intentions to be represented fully in parliament: not be hijacked by monolithic clones.

We need different people, alternative parties, voices, thoughts, and most of all men and women of integrity and courage to be in parliament.

For how long will we accept that certain peoples’ salaries and assets are state secrets?

What else needs to come to light so we know for how long we have been deceived over so many things?

For how long will we accept the deception being perpetrated that the ruling class is willing to listen and work with people? Seriously. The only motivation they seem to have is to maintain their power.

Their fear is that when good people are voted in from alternative parties they will show up the meritocrats for the type of people they are truly: vindictive, full of self-praise, and deaf to what the people say.

Time to stop being naive, and do what is right when the time comes.

“‘Underland: A Deep Time Journey’ is an epic exploration and examination of darkness and the caverns underground that have captured our imaginations, pulled us downward, housed our dead and allowed us to bury our most violent secrets. It is also a descent into the beauty where dark wisdom is located.”

“What does it mean to be human at a time when we’re struggling with the nature of our humanity, when the world as we thought we knew it is fluid and not fixed? ‘Underland’ is a portal of light in dark times.”

Sanjay Perera

*Writer, and founding editor of Philosophers for Change. First posted at: Facebook; related post: What lies beneath.  For a collection of related posts: Kafkaville.

(Sources: DPM Heng Swee Keat at the “Building Our Future Singapore Together”

The Unseen Worlds Beneath Us.)

 

 

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36 Responses to “Beware of power-hungry snake-oil salesmen”

  • Life goes on:

    Ah heng ah heng, aiyah nowadays whenever u make speech, uncle wants to doze off.

    Don’t know how come ahh? Please help to tick:
    1. Boring and uninspiring
    2. Loads of BS
    3. Nothing new or earth shattering
    4. All of the above

    Zzzz….

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  • TheLiar:

    Power is constant and does not fluctuate. If it does, for inability to maintain or sustain then the power is an illegitimate power. However, unchanging powerful regime may also have overstayed illegimately but for how much longer?

    Only the vision from above holds the key to legitimate and constant/eternal power. All others power are trouble eventually.

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  • patriot of TUMASIK:

    Watch him closely when he speaks the FAKE smile and body language says it all…Classic BullShit Artiste clinging onto something that is dear to his heart $$$$ not Family or Health after all who can earn that $$$ and have a Power NOT his for acting on a local and world stage??? The Piece of Shit Woody is the perfect example who is still acting and collecting…

    Heng…remember Karma and the OWL… is your Health & Family worth All that SHIT???

    Unless you are TRULY Patriotic and turn the Apple Cart on the Dynasty when the Time arrive and hand over to DESERVING People and NOT Kin & Cronies of the Dynasty and should there be a Revolt in Cabinet and Parliament over your Decision to overturn the applecart you can always show your Patriotism by aligning with the Oppositions for the sake of the Nation and NOT the Dynasty and its INC!!!

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  • oxygen:

    IN THE LAND OF FICTIONnomics, where does the conversation commences when CPF and HDB is NOT your ownership (despite fake claims otherwise) to begin with?

    How can the peasants trust their survival and well-being coming from the mouths of those in such a great hurry and depth of obsessive preoccupation with accumulating wealth and further solidifying its power grab accumulation in the furtherance advancement of the same greed?

    They could only afford to secretively pay $1 per month for car parking. Peasants in the dark paid a lot more!

    Peasants were fed with fake news from the ardent prophets of POFMA pretended virtues and even labelled as lesser mortals!

    Remember that!!!

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  • TruBlu:

    Looks to me H$K’s REIGN will be that of a *CHILD EMPEROR* N LEE AH LONG will be *LEEgent*(regent)?

    H$K dared not even say he DONT INTERFERE WITH MONIES THAT ARE TRANSFERRED TO GIC?

    Is he so powerless?
    Where in the WORLD A FINANCE MINISTER CANT EVEN OR DONT EVEN KNOW WHERE THE TAXPAYER MONIES GO TO?

    So,its obvious even HO JINC ranks above this PM DE$INATE???

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  • Rabble-rouser:

    QUOTE: What else needs to come to light so we know for how long we have been deceived over so many things?
    For how long will we accept the deception being perpetrated that the ruling class is willing to listen and work with people? Seriously. The only motivation they seem to have is to maintain their power. [END]

    S’pore’s Economy is predicated on 2 basic economic principles that the S’pore govt has firmly enacted:

    1. Enhanced & “sell” state lands on a leasehold basis at a premium to all comers & maximized revenues to the state coffers (with the option of recycling the land); &

    2. Attract more incoming foreigners (population) & enticing more foreign investments (capital) as a means of enhancing land value, generate more housing demand & creating real estate byproducts like REITs, property trust & assorted rent-seeking type activities which have indirectly raise [escalated] the cost of living – 10 million population target not a myth but a fact.

    Points 1 & 2 are not only complimentary but also feed on one another. These 2 policies are absolutely essential towards fulfilling the S’pore govt’s agenda of self enrichment & sustaining their high ministerial pay.

    Anyone with a functioning brain can see that such policies would be:

    1. Detrimental to “good” job creation replacing with numerous low quality & dead-end jobs created simply to be filled by foreigners;

    2. Raise the cost of living in S’pore to such absurd levels because the basic land cost has become so prohibitive (expensive) that it radiates throughout the S’pore economy (inflate living costs);

    3. Reduce the ability of SME businesses to generate adequate cash flows; promulgate rent-seeking activities over enterprise/entrepreneurship & encourage price cartels, price gouging & uncompetitive business practices (collusion, cheating, etc).

    In addition, other policies that raise govt revenues are counterproductive to S’pore economic future:

    1 Misguided Transportation Policies – for a small geographical area, it is very expensive to travel & transport goods around S’pore. Oil products (Petrol/Diesel) are artificially inflated; COE is a wealth transfer mechanism which captures savings/ burdening debt on car buyers; numerous tolls (ERP) in addition to island-wide parking fees, road tax, etc. Public transportation is congested yet certain legs of the MRT system have underutilized capacity (Downtown line thru Bukit Timah, Western leg of the Circle line towards Harbourfront, etc).
    - Cont’d -

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  • Rabble-rouser:

    - Cont’d -
    2. Conveyor belt system (& very congested) medical services yet very high medical charges to users. The health system in S’pore is failing. Land costs have infected into the healthcare system making healthcare costs unaffordable. Preventive healthcare education is an afterthought as Curative medicine is more profitable (Corporate Medicine) – see the numerous diabetic, obese, hypertension (kidney failure) & assorted prevalent illness in S’pore.

    3. Energy & water policies are out of synch with world trends. S’pore is still dependent on fossil fuels because the high land cost policies precludes renewable solutions using solar panel farms while our congested sea lanes can’t accommodate wind power. S’pore energy consumption baseload is high because S’pore is configured for intensive high rise living (lifts, lighted corridors, water pumps/roof water tanks, etc). Purified water, on the other hand, is getting scare in S’pore because of intense population pressures. This is inspite of living in the tropics where rainfall is adequate. Most desalination projects are designed for arid regions where rainfall is scarce. S’pore is the exception. Why? It is because there are too much people concentration & the inherent infrastructure failure to design rainwater harvesting & construct more water bodies (again, high land costs). This is one critical reason why S’pore’s cost structure is so high while the rest of the world are striving to lower their cost structure (using renewable energy whose capital cost is fast declining as economies of scale ramps up; using rainwater harvesting as a cheap water resource, etc). At the end, population growth policies are counterproductive no matter what the urban experts say!

    Many S’poreans are living in a bubble (vacuum) unable to comprehend that their existential life is fast eroding & might even be terminal:

    1. High housing cost is 100% unproductive. It traps productive capital from being applied into productive use like manufacturing, business & service providing activities, etc. It is not wealth because property values are a greater fool game. Already the signs are not good in S’pore with 70,000 looming vacant units emerging (Bloomberg report).

    2. Geopolitical tensions & the fact nobody really loves S’pore. TPPA died in 2016 (killed by Trump’s 1st act as President); BRI was designed to circumvent S’pore’s geographical advantage (by China’s President Xi Jingpin); Mahathir’s ascension renewed M’sia/S’pore boundary issues & halted cooperation projects; Khmer/Vietnam furore over statements of “invasion”, etc.
    - Cont’d -

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  • Rabble-rouser:

    - Cont’d -
    3. Economic roadblocks rising as trade wars, Middle East tensions (war?) & exclusive trade & economic blocs forming (Anti-Globalisation) have clouded the future economic event horizon. If you’re heavily indebted & chockful of property (mortgage) or share investments (marginable), good luck to you!

    Livelihood will be the last thing you’ll be looking for when the s**t hit the ceiling fan. Because survival is all that matters!

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  • No Dafts or Dogs Allowed:

    Sanjay, you shouldn’t even bring up that word ‘trust’. An antonym that has zilch value. To me, it is worst than non-existent. It is even ‘negative’. I don’t trust the ‘bug’ living on the d*honourable canine amongst my pedigree. I stay away from him in case I get infected also. hahaha…….

    Disclaimer: I cannot be held responsible for the opinions above, as apparently one of my dogs has learned how to type.

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  • Harder Truths:

    What happened to the original $G inhabitants when the British started to rule? They became irrelevant and disappeared. Who gave a shit about them? No-one.

    Same thing is happening to $G citizens now. Except they seem to enjoy it.

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  • TruBlu:

    Talking about DT N HIS TARIFF$ ANTIC$.
    This stoopid Orange Head is just killing MNCs’ market share gradually.
    Even in IT,China is fast catching up.
    Hey,many CHINESE IT MINDS are in USA?

    If business in USA drops whilst that in China keeps growing,these IT whizzkids would flock to where they can make money,wouldnt they?

    Do people see DONALD IMPOSING TARIFFS ON REAL ESTATE?
    Mind you,DT n his people are in REAL ESTATE?
    Si,DT CARES FOR USA?…THINK IF IT HURTS HIS OWN *TURF*,he will not act so stupidly?

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  • opposition dude:

    What the 4th PM needs to know first of all is how voting will go for his party after the next GE. How much will they lose will then become his next sales pitch.

    It’s not that people trust the government, it’s that they don’t know where to look online for information. There isn’t one credible news site online that they can trust which is why their only real source of info comes from the newspapers.

    It’s when they finally hear the truth about their flats being on leases that some finally realise the truth but the majority will keep quiet and live on in denial. This is because for much of their lives they have trusted the PAP and they will not accept (even if it is fact) that the PAP would betray that trust.

    This is why I have come to the conclusion that when the majority of these voters leave this world is when we will see real change. As long as they remain the majority all we can hope for are a few more opposition MPs voted in, there won’t be a coalition government and you can forget about PAP being voted out.

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  • TruBlu:

    WHAT EXACTLY IS PUBLIC SERVICE?
    IS IT ABOUT MAKING MONEY FROM THE PUBLIC AT ALL COSTS?
    IS IT ABOUT LORDING OVER THE PUBLIC?
    IS IT ABOUT MAKING THE COUNTRY LOOKS *PROSPEROUS* BY ERECTING GLITZY N EXPENSIVE FACADES WHILE HEAVILY TAXING THE PUBLIC TO SUSTAIN SUCH LOOK-GOOD OBJECTS WHILE PUSHING THE PEOPLE TOWARDS POVERTY?
    IS IT MAKING SURE OUR BIG FAT PAYCHECKS WILL MAKE STARING INTO OUR BANK ACCOUNTS A KIND OF EXTREME PLEASURE?

    OR,like DR GOH KENG SWEE said SERVING THE PUBLIC,THE PEOPLE,like a priest and taking our job as a CALLING,A VOCATION,TO SERVE AND NOT A PROFESSION TO MAKE MORE,MORE N MORE FOR OURSELVES?

    Guess our PUBLIC SERVANTS are far from being what a PUBLIC SERVANT ought to be.

    Arrogance n Greed have taken over.
    It is becoming more n more obvious.

    As such,it has to CHANGE!

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  • Wise Up b4 2 Late !!!:

    Too many broken pots of trust. Now matter how you try to fix them, the cracks will always be seen. The damage can never be repaired.

    We just need to remember “GE Twenty Eleven”!

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  • Irreplaceable PAP talents:

    Many foreigners have praised PAP talents so much so theses irreplaceable talents got longkang water flooding their heads to eventual swollen state. This phenomena is evidenced with real facts:

    Conflict of interest would not be if the joker has a successful career regardless how that success comes abt n depending how well connected to the sqeaky mices.

    Citizens needing a job n the chances of getting them r not depending on experience or academic qualification but on how greedy, hungry n aggressive they r relative to the foreign comrades of the papists.

    A minister is so talented that he has no problem to threaten short of pointing an automatic at unhappy citizens that he has no problem to import more foreigners to displace the daft Singaporean Pmets from their jobs.

    PAP has so great talents that they think having 7 millions foreigners will enhance the national security of Singapore. Perhaps they r so talented to think that the world would protect Singapore the more with more of their citizens here. They r so talent to think that these foreigners will rise against their motherland like themselves for the fre dollars more they get here more than their motherland.

    They r so talented to think that they r incorrutible including abuse of power by having CPIB in PMO, AG of AGC his personal lawyer n law firm, AG of AGO the wife of minister plp as evidence that they r above laws becos what they do, say n think mean laws like the fake has made minister, prosecutor, judge all in one n the CJ dares not say.

    Singaporeans think these sai irreplaceable. Time to thin again. Legalized corruption is not corruption but dedication with a difference to themselves.

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  • change we must:

    even Tun Mahathir could see that sgs are tired and fed up of the same gov for 50 years!
    we need change ..like tomorrow!
    we can only go so far with their controlling and stifling rule.
    c’mon folks..we can do it.
    in fact, we have to!

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  • TruBlu:

    And so they CONtinue to COLLECT MORE $alaries doing ADVISORY ROLE$?

    2 SMs now.
    You think Lee Ah Long would not make himself MENTOR MINISTEE becos HSK *requested* him?

    The BIG WAYANG continues…
    Another episode,and another…

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  • UniQ:

    What trust ?

    Lie to us on HDB Ownership
    Lie to us on CPF returns
    Lie to us placing Singaporeans First (eg: POFMA)
    How about Swiss living standard ?
    How about lowering cost of living during the last GE speech ?

    I guess nobody on this land can lie any better than the ‘truth’ speaker/s.

    I guess the only truth told was they are the Elites and above the law.

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  • 70% PLease Wake up:

    Im a nobody.

    But, please heed my words….

    Beware of the smiling tiger.

    Beware.

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  • rukidding:

    The slogan “with you, for you” was first used by a “fake malay” macik !

    Yup,….the “milo” star !

    Looks like this will be the slogan frequently used by “fakes” !

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  • joe tiu bareback black:

    if he wins election, he has 5 extra years to bulk up his bank account. even so, he may desire all he wants. as soon as heaven says, enough, he 2nd stroke and gone case one.

    do we wish him bad?

    NO. but we say, categorically, he is a weakling, without backbone, and is NEVER going to do right for 70% sheep.

    do we care if 70% sheep is treated good or bad by stroke heng? NO. except that if 70% sheep votes pap, our 30% OPPO lives get harder due collateral damage.

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  • Harder Truths:

    Sanjay – don’t get upset.

    This is not Hong Kong.
    There is no King Kong.
    70% have no Ding Dong

    Just accept $G is f*cked.
    There is no cure.

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  • Existentialism, the crony kind:

    When dirt-rich men dish out all these empty niceties bout they doin good to poor people and us common folks, and the grassroots reality our lives is far from his conniving and lying, and even the piped water come cheap from Johor is sold us hundreds fold times more, and them electricity is making them eunuchs a tons of money, you know somewhere down the line his education done him little good and his heart is housed in a selfish little niche.

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  • TruRed or TruBlu?:

    Given a choice who wants to be THE animal in the Animal Farm ? Every move, every action, every word, even thoughts are being monitored and controlled 24/7?

    https://www.abc.net.au/news/2018-03-31/chinas-social-credit-system-punishes-untrustworthy-citizens/9596204

    TruBlu:
    June 18, 2019 at 1:49 pm

    Talking about DT N HIS TARIFF$ ANTIC$.
    This stoopid Orange Head is just killing MNCs’ market share gradually.
    Even in IT,China is fast catching up.
    Hey,many CHINESE IT MINDS are in USA?

    If business in USA drops whilst that in China keeps growing,these IT whizzkids would flock to where they can make money,wouldnt they?

    Do people see DONALD IMPOSING TARIFFS ON REAL ESTATE?
    Mind you,DT n his people are in REAL ESTATE?
    Si,DT CARES FOR USA?…THINK IF IT HURTS HIS OWN *TURF*,he will not act so stupidly?

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  • the good the bad N the ugly:

    first the good…then the bad…now the ‘ugly’.
    SG had them all–as PMs and ministers.
    none of them are making us proud to be SGs anymore…instead we feel embarrassed to say we are SGs at times.

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  • oxygen:

    @ Rabble-rouser

    ME LIKES YOUR GOBSMACKING EXALT ECONOMIC LECTURE in illuminating easy-to-comprehend format in this thread.

    Have a point to share with you on this one.

    Rabble-rouser: High housing cost is 100% unproductive. It traps productive capital from being applied into productive use like manufacturing, business & service providing activities, etc. It is not wealth because property values are a greater fool game. Already the signs are not good in S’pore with 70,000 looming vacant units emerging (Bloomberg report).

    Property market is, to me, A FOOLS’ PARADISE, for speculators. There is a finality end of this game, THE HIGHER YOU CLIMB OF UPGRADING AT ITS PEAK, THE HARDER YOU FALL when the moment of truth eventuates.

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  • genX:

    property market will sustain despite what some doom-sayers claim.

    more foreign investors like those from HK N EVEN CHINA coming our way sooner than some guys think.

    only thing is a global economic crisis to pull prices down.
    else,prices of sg properties going higher from here with pauses from time to time.
    notice some doomsayers have been saying otherwise for many years here on TRE.
    Yet our property prices remain stable to higher.

    if you need a house to settle down,you better not wait too long or you will regret.
    many doomsayers are not resident in Sg or are renting only.

    dont speculate,just buy to stay long term should be ok.
    i am a property agent for many years already.
    i dont post on social media but i must do it this time.

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  • oxygen:

    @ genX

    TO AVOID DOUBT, PLEASE SUPPLY us your Singapore property price index for the last 15 years to show proof of your claim that sg property prices indeed “remain stable to higher.”

    genX: property market will sustain despite what some doom-sayers claim.

    more foreign investors like those from HK N EVEN CHINA coming our way sooner than some guys think.

    only thing is a global economic crisis to pull prices down.
    else,prices of sg properties going higher from here with pauses from time to time.
    notice some doomsayers have been saying otherwise for many years here on TRE.
    Yet our property prices remain stable to higher.

    if you need a house to settle down,you better not wait too long or you will regret.
    many doomsayers are not resident in Sg or are renting only.

    dont speculate,just buy to stay long term should be ok.
    i am a property agent for many years already.
    i dont post on social media but i must do it this time.

    I can understand why and frequently a property agent like yourself has to be perpetually optimistic and spruiking of everlasting bloom in property investment,

    BUT I DON’T UNDERSTAND YOUR CONTRADICTION OF “stable to higher” assertion because the narrative is INHERENTLY SELF-CONTRADICTORY.

    What is “stable” BY DEFINITION, cannot be ADVANCING “higher” at the same time interval.

    If you are advancing a narrative of slow appreciation over time, you are most likely end up a sorry loser AFTER FACTORING YOUR INTEREST COSTS OF FINANCING THE DEBT MORTGAGE even in owner occupation situation.

    Don’t believe me yet?

    Go to your finance calculator, take a look at the compounding table of just 2% compounding annually, how many years it takes to double your investment with just 2% compounding per annum? Let us calls this X years.

    If after X years, your property hasn’t double, it means it is gaining in valuation at LESS THAN 2% PER ANNUM i.e. slower than your mortgage financing costs.

    ARE YOU A LOSER OR WINNER IN THAT PROPERTY BUY THEN?

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  • genX:

    @oxygen

    i appreciate your views here.
    but i still think our property prices will remain stable and to gradually rise with time.
    Regional investors still like to invest here as our country is more stable in many ways and singaporeans are gracious lot on average unlike even across Causeway.

    Let time be our witness.
    I am sure the rise in prices will cover interest cost over a decent period of time.
    For those who need to settle,buying your own beats paying high rentals.

    This is my main point.

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  • Rabble-rouser:

    @ genX:
    I’ll advise you to take a trip across to the 2nd Link into JB & look at the various Chinese-funded housing developments there. These were all aimed exclusively at Chinese buyers as well as to well-heeled foreigners, M’sians are logically excluded due to high selling prices in RM. Even these aren’t selling well inspite of huge busloads of potential Chinese buyers/tourists going across the 2nd Link from S’pore into JB.
    Those rich HK’gers & Chinese will still prefer Vancouver, BC (Canada) over S’pore no matter what some (fantasizing & hopeful) S’poreans “property nuts” might think!
    The era of the Synchronised Global Property “Boom” due to Globalization & the cheap money era (from QEs) are nearly over! Trump has forced Jerome Powell’s hand (US Fed) to ease US interest rates (rate cuts) simply for his 2020 reelection bid. But his trade war, uncertain political actions & obstructive behaviour/antics are causing global economic turmoil & reconfiguring the future on trade, investments & geopolitical alliances. Global low interest rates are causing huge imbalances, influencing malinvestments yet unleashing high inflationary pressures.
    Certain countries are already forming exclusive trading blocs to circumvent around the belligerent, war mongering Trump & the fading US economy. You can’t assume things from the past/present will continue well into the future (assume for disruption & 180° shifts).
    High priced property eco-system in HK & S’pore are the most fragile & very vulnerable to sudden shifts. At worst, they could be very long-term downtrends & even terminal in nature!
    I’m not a doom-sayer but one who goes around as a keen observer of economics & market behaviour. I’ve never felt so pessimistic about properties until recently.

    genX:
    property market will sustain despite what some doom-sayers claim.

    more foreign investors like those from HK N EVEN CHINA coming our way sooner than some guys think.

    only thing is a global economic crisis to pull prices down.
    else,prices of sg properties going higher from here with pauses from time to time.
    notice some doomsayers have been saying otherwise for many years here on TRE.
    Yet our property prices remain stable to higher.

    if you need a house to settle down,you better not wait too long or you will regret.
    many doomsayers are not resident in Sg or are renting only.

    dont speculate,just buy to stay long term should be ok.
    i am a property agent for many years already.
    i dont post on social media but i must do it this time.

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  • oxygen:

    @ genX

    MATE, THANK YOU FOR YOUR REJOINDER ADDING TO THIS CONVERSATION – most definitely, your DIVERGENT VIEWS are welcome too, disregarding my opposite preferred viewpoints.

    genX: @oxygen

    i appreciate your views here.
    but i still think our property prices will remain stable and to gradually rise with time.
    Regional investors still like to invest here as our country is more stable in many ways and singaporeans are gracious lot on average unlike even across Causeway.

    Let time be our witness.

    I am serious of considered thoughts when I wrote these.

    oxygen: Property market is, to me, A FOOLS’ PARADISE, for speculators.

    and

    oxygen: Go to your finance calculator, take a look at the compounding table of just 2% compounding annually, how many years it takes to double your investment with just 2% compounding per annum? Let us calls this X years.

    If after X years, your property hasn’t double, it means it is gaining in valuation at LESS THAN 2% PER ANNUM i.e. slower than your mortgage financing costs.

    ARE YOU A LOSER OR WINNER IN THAT PROPERTY BUY THEN?

    Just did a fact check on my assertions. Search the compounding tables in financial maths and discovered these facts.

    If your property value climbs by mere 2% per annum (compounding of course), it will double in 40 yrs and if it appreciates 4% per annum it should double in 18 years!!

    By logical derivation, if your property values rise gradually by 4% pa and your interest borrowing cost is 2.5%, your net gain (if you are lucky to buy at perfect bottom end of the property cycle) is mere 1.5%. A pittance!!

    But if you bought physical gold using different currency over the last 15 years, your gross return is 6% to 9% range and deducted financing costs of 2.5% expense, your return must be 3.5% to 6.5% NETT. Here is my proof -

    http://goldprice.org/

    HUGE DIFFERENCE OF GAINS!!

    The wonder of property investment for even owner occupation is WAY OVER-HYPED – that is my viewpoint.

    Property developers sales often “threatens” visitors to their showflats this – the moment you walk out without buying a property, you will regret that you have made the biggest mistake in your life.

    IT IS A ROTTEN LIE.

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  • oxygen:

    @ genX

    IF YOUR PROPERTY IS BOUGHT ON THE TOP END OF THE PROPERTY CYCLE, your gross yield before financing costs is NEGATIVE! Each property cycle from peak to bottom to recovery back to peak could be 15 years of no gains but pains!!

    So I am dead serious of this cautionary warning.

    oxygen: Property market is, to me, A FOOLS’ PARADISE, for speculators

    and if your property gross gains is 2% per annum doubling in 40 years – you still lost because your average borrowing cost is 2.5% in the last 15 years and could be higher (or lower) in the next 25 years.

    You can end up slaving a lifetime to futility of a “wrong bet” in speculation LIVING A LIFE OF A MORTGAGE SLAVE.

    Singkies who are PROPERTY-MAD are at risks of self-harm of this INSANITY GREED OF PROPERTY SPECULATION.

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  • oxygen:

    @ genX

    ASSET ENHANCEMENT POLITICS, to me, is always a SCAM of transfering wealth from the poor to the rich.

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  • political & economic environme:

    //For those who need to settle,buying your own beats paying high rentals.//

    as long as the political & economic environment is stable in sinkie land context, real estate (& roof is one important basic need) tends to be inflationary due to demand (manufactured 10m or 15m or more open leg policy ???) and supply (controlled supply + high reserved land price due to white idiotic rent seeking policy).

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  • Rabble-rouser:

    @ oxygen:
    Mate, property is still a good form of investment. But it must correlate either with good economic management or be located within a region of tremendous natural resources with brilliant investment opportunities or developmental prospects.
    HK & S’pore, to an extent, are already towards the end of their 50-60 year old Property Supercycle. Both are already overdeveloped & have highly intensified living conditions beyond the point of no return. They are extremely fragile! And S’pore unlike HK, has poorer economic management in their business eco-system (SGX lagging way behind HKSE).
    But in an age of disruptions & geopolitical tensions, high property prices are an anomaly (price distortion) & an aberration in the efficient use of capital (a new dawn for Investments). High property prices traps capital into unproductive storage yet their prices are subjected to the Greater Fool Game ie. someone who is willing to pay a higher price for the asset holder to exit the game! Smart investors wouldn’t fall for such a losing proposition.
    And the current game of extremely low borrowing costs (near zero/negative interest rates) have created anomalies in asset pricing [bubbles] beyond their true fundamentals & intrinsic value. And we’re at a late stage where the risk of toppling down are high & worrisome. No real investors would take such a monumental risk leaving it to market speculators & gamblers. Even the high-priced stockmarket are the domain of Institutions using high frequency trading algos trading among themselves thus creating an artificial market devoid of mass participants. Who are they fooling?
    The key is liquidity, not holding onto overpriced assets – any market movement from here on would be likely to be either liquidity-driven or liquidity starved. And Central Banks were playing a game of bluff where they have no more room left. Trump is playing a dangerous game forcing the Feds to cut rates (to boost stock prices) when he had singlehandedly tipped the US economy towards a deep recession. Doomsayer? I don’t think so!

    oxygen: Property market is, to me, A FOOLS’ PARADISE, for speculators. There is a finality end of this game, THE HIGHER YOU CLIMB OF UPGRADING AT ITS PEAK, THE HARDER YOU FALL when the moment of truth eventuates.

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  • oxygen:

    @ Rabble-rouser

    MATE, not quite so of property investing over the long-term since it is acquired for life-long occupation use BUT ECONOMIC CYCLES ARE FAR SHORTER even in booming economy with rich natural resources endowment.

    Here is some illuminations.

    The Australian town where property prices once rivalled Manhattan is now gathering dust

    https://www.smh.com.au/business/the-economy/the-australian-town-where-property-prices-once-rivalled-manhattan-is-now-gathering-dust-20190610-p51w2q.html

    and this

    https://www.smh.com.au/national/western-australia/broken-windows-broken-dreams-the-wa-town-left-in-the-boom-time-dust-20190524-p51qzi.html

    And generally property prices have fallen significantly in Sydney, Melbourne, Brisbane, particularly for high rise apartments.

    Rabble-rouser: @ oxygen:
    Mate, property is still a good form of investment. But it must correlate either with good economic management or be located within a region of tremendous natural resources with brilliant investment opportunities or developmental prospects.

    And if you bought property that doubled in 18 years – VERY FEW AND FAR IN BETWEEN – the gross yield before mortgage financing cost is only 4% annually. I checked the financial statistics.

    oxygen: If your property value climbs by mere 2% per annum (compounding of course), it will double in 40 yrs and if it appreciates 4% per annum it should double in 18 years!!

    and even physical gold offers you far better return.

    oxygen: But if you bought physical gold using different currency over the last 15 years, your gross return is 6% to 9% range and deducted financing costs of 2.5% expense, your return must be 3.5% to 6.5% NETT. Here is my proof -

    http://goldprice.org/

    HUGE DIFFERENCE OF GAINS!!

    The wonder of property investment for even owner occupation is WAY OVER-HYPED – that is my viewpoint.

    So on my book, property investing or worst still speculating is a FOOL’S PARADISE.

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