Incompetent leadership of PAP leaders are exposed during this economic crisis

The 2nd quarter GDP numbers are out – Singapore’s GDP shrunk by 3.3% against the Malaysia’s GDP growth of 4.9%, Indonesia’s at 4.2%, Taiwan’s at 2.41% and South Korea at 1.1%.

I accept the arguments that the external factors are unfavourable with trade wars between the US and China underway and that no two economies are exactly the same.

However, the fact remain that all countries are part of the global trading system. While our PAP government have the highest paid ministers anywhere in the world, they are giving us the worst set of GDP numbers among our neighbours and the major economies. Instead of admitting to their incompetency and bankruptcy of ideas at reinventing and reinvigorating our economy, PAP ministers such as Indranee Rajah and Chan Chun Sing’s standard operating explanations were so predictable.

One, the Singapore economy is a mature economy and therefore, that it is normal for our economic growth to be moderated. I ask if Taiwan or South Korea are not mature economies as well? Next, Singapore is a victim of big elephants fighting. In other words, to those PAP ministers, when the Singapore economy does well, it is thanks to the PAP government’s “outstanding leadership” but when the economy does poorly, it is always due to anything else but their uselessness or imcompetent leadership.

Domestically, many companies’ order books are down, salaries of many Singaporean workers are depressed, overtime work for many people who depend on OT to supplement their income are reduced, employment opportunities are down and the mood is a sombre one. One good indication was the pathetic display of our national flag by flat dwellers during our recent National Day celebrations when compare to past years.

Need I say more?

 

Simon Lim

 

 

 

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58 Responses to “Incompetent leadership of PAP leaders are exposed during this economic crisis”

  • Lousy elephant excuse:

    Vietnam grows because of trade war.
    Singapore shrinks because of trade war.

    Vietnam ministers are better than Sg highest paid ministers.

    Vietnam economy grows nearly 7% on trade war tailwinds …
    https://asia.nikkei.com/Economy/Vietnam-economy-grows-nearly-7-on-trade-war-tailwinds

    Exports to the U.S. could grow further as the trade war continues. Shipments from Haiphong used to first be brought to Singapore or Hong Kong on smaller vessels, where they were transferred onto …

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  • opposition dude:

    You don’t even need a recession to see just how incompetent these overpaid donkeys are. Just look at the SAF deaths, AGO audits and Singhealth hacking + HIV leak.

    And I’m not even including past issues like train disruptions, flooding due to small longkangs, HDB death lifts, re-emergence of TB, playing the race card by die die needing the president to be Malay amongst other things.

    Far too many things have happened the last few years to constantly show just how incompetent the PAP is. Oh, before I forget, wayang measures to tackle the high cost of living. Measures which never work since they are only temporary.

    Time to kick out more monkey in the next GE.

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  • oxygen:

    @ Simon Lim,

    A SO-CALLED FIRST WORLD ECONOMY can only afford to pay THIRD WORLD ECONOMY WAGES is a ZOMBIE ECONOMY living on cheap borrowed money and cheap slave labor.

    It won’t survive much longer.

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  • Tremendous:

    No plans ? That’s why CCS dared not let the flood gates open by allowing citizens who are 18 years and above vote, and yet allowing newly- converted citizens (without national service contributions) to vote. He is not idiotic but clever to preserve himself and his gang.

    Forget about Singapore 2100. At the rate and directions that things are moving, Singapore will face survival/ existence issues 6-10 years from now. Our big holes are everywhere, how to use a yearly national day rally to patch up everything ? Look at our dependency ratios and our government performance carefully before debunking this as myth.

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  • oxygen:

    @ Simon Lim,

    SEE HOW US POLITICIANS ARE FARTING ABOUT THE “ROSY” US economic outlook? Trump told journalists this

    Trump: I don’t think we’re having a recession,”

    https://www.smh.com.au/business/markets/my-consumers-are-rich-trump-brushes-off-recession-fears-20190819-p52iei.html

    He don’t think there will be a recession (feelings) means there isn’t going to be a recession – WITHOUT ADDRESSING THE REAL ECONOMIC DATA?

    Larry Kudlow is even more affirmative swallowing thin air.

    Larry Kudlow, White House Economic Advisor :There is no recession in sight

    and Peter Navarro, Trump’s trade advisor, conquers all with this delusion

    Peter Navarro : We have the strongest economy in the world and money is coming here for our stock market. It’s also coming here to chase yield in our bond markets

    PETER NAVARRO WAS SILENT ON US TREASURY FALLING INTEREST RATE when Fed cut 25 basis point on the FFR, and Trump’s about face on 10% tariff on the balance of US$300 billion exports to US coming in sept. drove US bond yield even lower.

    NONE OF THE THREE MONKEYS ADDRESSED TWO KEY FACTS -But manufacturing growth PMI MANUFACTURING INDEX has slowed and lagging business investment has also become a drag.

    When US tumbles, global economy will be worst than now.

    LEE-jiapore, how Uh???

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  • Chiok:

    Dont say like that.

    One thing we dont do too bad, rank number 11 for

    調查: 全球最受監視城市 新加坡排第11

    Top ten majority China cities with US at no 9 and England at no 6.

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  • patriot of TUMASIK:

    Simon, the Idiot is Building like Nobody’s Business… after all, using other’s money is their Style as in Vogue and The Jewel and Garden by the Bay the two White Elephants will be CONsidered as Gold after the Idiot’s Plan is carried out according to his NDR speech

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  • One among them elephants:

    What did the grape say when the elephant stepped on it?
    Nothing, but it let out a little wine(whine).

    What did the retiree say when the white elephant sucked out his CPF?
    He let out a little whine, & just kept on slogging past sixty-five.

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  • ganeshsk:

    “One good indication was the pathetic display of our national flag by flat dwellers during our recent National Day celebrations when compare to past years.”

    SIMON THE PATHETIC DISPLAY IS FROM THE PAP GRASS ROOTS, NOT FROM CITIZENS
    SHOWS THE PAP’S GROUND BASE IS ALSO LOSING FAITH IN THE PAP

    FROM THE SOUND OF THE CLAPS AT YESTERDAY NDR YOU CAN SENSE THE SOMBRE MOOD.

    NO NEED TALK MORE.

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  • All useless PAP cronies:

    They are working only for MONEY, for themselves and nothing else. All are cronies and PAP practise nepotism. Useless, incapable, wearing panties PM LHL has said it clear and loud that no changes in CPF withdrawal and age. This is ridiculous and absoultely cannot be tolerated that the money belong to the people not PAP. PM LHL must step down! They just know how to keep building condos and nothing else.
    PAP must come clean on Ho Ching’s salary, all Temasek and GIC investments P and L records. Goh Chok Tong must also step down and he is not ashamed to keep taking M$ salary. S$800k rubbish chute design must be investigated! Pastor Kong Hee’s discount jail term must also be investigated and many many more.
    The whole system is to keep LHL in power is money politics. Shame on all the members!

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  • Talking About Climate Change ?:

    While Singaporeans are suffering, our PM talked about Diabetes at last year NDR speech as if he is a doctor.

    This year is talking about climate change while many Singaporeans are still suffering. My aging friend was retrenched and went to the Polyclinic and was referred to the Heart Center for checkup because his heartbeat is not regular. The doctor there recommended for him to do three tests and it will cost a total of S$800/-. His Medisave has reached its limit for the year as he was treated for Diabetes and high blood pressure. He cannot apply for Medifund as he stays in a 5 room flat. Die die he must pay in Cash. So he did not go for the test as he cannot afford to do so.

    My point is that he will be killed by PAP policies first before he is killed by Climate Change.

    I am also very shocked to see people on TV clapping when PM said that there will be no change to CPF rules. They are either all brainwashed or big Morons to let the PAP government lock their CPF which they were was supposed to get at 55 years old as promised by PM father LKY.

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  • liars and betrayers:

    just heard the chief clown talking $numbers on BBC worldnews…reg yesterday’s NDR.
    True..whenever the books are healthy its because sg has the best gov in the world.
    when things go downwards they blame exterior factors.
    but things had been going southwards for a long time now.
    what were the highest paid clowns doing then?
    please i beg you folks …please vote for change!

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  • When And Why ?:

    Our GDP is the worst among many countries in the Region. Please don’t blame the US-China trade war because the other countries can do better than us. Obviously our leaders have run out of ideas. Since their salaries equate to their performance, don’t you people think that its time their salaries should be reduced now?

    The PM mentioned that we came first in the world with regards to education for the children. Then why do we need to recruit so many foreigners to Singapore to do the work ?

    We are also spending a lot of money to more than double the capacity for pre-school facilities. But our married couples are not producing enough babies to fill up this capacity. Are these additional capacity to cater to the children of foreigners working in Singapore using our taxpayers money ?

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  • High Cost:

    It was mentioned during the NDR Speech that many companies are leaving China to go to other countries to establish their manufacturing facilities such as Vietnam, Cambodia, Myanmar, Indonesia etc. They will not come to Singapore because of the high base cost such as Rental etc..

    How come the PM did not mention how we are going to tackle this issue about high cost in Singapore ?

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  • Whatever:

    Maybe there are too many fat cats in the ruling party so they could not see clearly the roads leading to the downturn!

    Or it could be the bochap members in the cabinet where only 1 person speaks n the rest sit back and group think! Or Shame trying to look for racial profilers? And was thinking of yellow,black n brown people?

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  • I shld b econ mp:

    I should be the ministar for economy.

    If economy boom ,
    I take credit .

    If economy bad, I blame the world .

    It’s perfect

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  • Be worthy:

    Woody claimed that miws are worth $m pay.

    But look at those clowns who have left he $m jobs like Raymon Lim, ah lui tock yew, auntie Lim hua Hua, etc or retired like Zorro Lim Sia Suay, Wong can’t sing, etc. Where are they now? Any MNC want these chaps?? Are they really capable or talented?

    Maybe worth $ peanuts? What do you think?

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  • MarBowling:

    Great comments by Simon.

    Looks like this time it’s REALLY SHTF! Wonder later once the 7th or Ghost Month is over, will there be STILL LOONG Queue for new Condo and also at car showroom!

    Recently Bugs Bunny Chan, Heng Sweet Cake and their Big Boss Mai Hum have told Sinkaporean NOT TO BE TOO PESSIMISTIC or WORRY. They said they have a lots of TRICKS up their sleeves to weather any headwind or storms coming our way! Think if you trust these jokers’ Bird Talk, you die faster!

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  • TruBlu:

    I guess everyone remembers these classic lines.
    When GDP is good,its OUR CREDIT.
    When GDP is BAD,its the world economic gloom especially USA etc.
    Nothing to do with our bad judgement???

    Claim glory,very fast.
    Take blame,NO WAY!

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  • Bobo:

    One thing for sure, Singapore doesn’t need an expensive party to tell us what to do with their empty promises. We need our CPF money back at 55yo with full interest paid. Free university tuition for Singaporeans only.

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  • oxygen:

    TRUMP AND CHINA IS LOCKED IN TRADE WAR, and…

    Mohamed El-Erian: 70% chance Europe will fall into recession

    Renowned economist warns Britain, Italy and Germany are ‘paralysed’ by domestic issues

    https://www.fnlondon.com/articles/mohamed-el-erian-70-chance-europe-will-fall-into-recession-20190819

    WHO SAYS NO RECESSION IN 2020??

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  • Cartoon:

    GDP something like causeway car jam.

    Slow moving.

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  • Harder Truths:

    $G’s ‘wealth’ is actually debt generated by the oil trade. Our entire economy is based on banks lending to companies to create jobs for people who take loans and so on…

    Without the oil trade the banks have bad debts and cannot lend – companies fail and our glorious government can only print money to pay off foreign debts. Inflation will then kill us like Cyprus, Venezuela or Greece.

    Do not expect the bunch of retarded scholars to help you. They are waiting for the old man to rise up and give an answer.

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  • Only Singapore?:
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  • Evil, Greedy And Corrupt:

    Sinkies stupid wat, give any reasons they will accept and parrot like gospels, create a few unique examples in rally, like ITE student going to medical school, stupid sinkies will feel very high, as if everyone can be a doctor now and get very rich.
    So what happened to our CPF and HDBs, rising costs of living?
    All solved already as a result?

    These are very common tactics used by seasoned communist, create an idol for everyone to look up to and be blindly led like a puppy.
    You go and look up the communist fake character Lei Feng.

    The pigs have effectively married dictatorship with capitalism, the great underpinnings are insatiable greed and power.
    The have perfected the art of theft, deceit, hypocrisy and doing great evils like no other government, except maybe the CCP.

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  • Excuses, Feel Good Wayangs:

    Only Singapore?:
    Take a look at this
    https://www.straitstimes.com/business/recession-worries-for-nine-key-countries

    This is what shittytimes want you to believe, that many others are also not doing well. You can get news of countries in trouble, in any part of the world anytime through out the year, and year after year.
    We know the reasons for these other countries, so what is the reason for Sillypore? What about our neighbors? Why aren’t they affected?

    This is not an essay writing or school debate, trying to win over with nice examples.
    The fact is that our economy is faltering, we want to see actions, what is the government and our ministars going to do to help the country and the people, not just to help themselves.

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  • Most Expensive Cabinet:

    TruBlu:
    I guess everyone remembers these classic lines.
    When GDP is good,its OUR CREDIT.
    When GDP is BAD,its the world economic gloom especially USA etc.
    Nothing to do with our bad judgement???

    Claim glory,very fast.
    Take blame,NO WAY!

    How else can they justify their world’s highest salaries?

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  • oxygen:

    @ Only Singapore?

    WE FELL THE HARDEST in the 2nd qtr.

    Only Singapore?: Take a look at this
    https://www.straitstimes.com/business/recession-worries-for-nine-key-countries

    How is the recovery picture going to be like given structural issues confronting?

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  • Only Singapore?:

    @oxygen

    //WE FELL THE HARDEST in the 2nd qtr.
    Only Singapore?: Take a look at this
    https://www.straitstimes.com/business/recession-worries-for-nine-key-countries
    How is the recovery picture going to be like given structural issues confronting?//

    We fell the hardest because of our small market. We are heavily reliant on exports.
    As reported in the above commentary.
    “these countries have a common problem,they are heavily dependent on selling goods overseas”
    So all the countries mentioned in the article have structural issues?

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  • oxygen:

    @ Only Singapore?

    The magnitude of our decline relative to all the other 9 economies teetering on the edge tells a compelling story.

    The other 8 economies are bigger/more diversified with a STRONG DOMESTIC SECTOR e.g. Russia has strong natural resources export, Germany has huge industrial base, UK is a global financial services centre, Mexico has intermediate goods manufacturing integrated to US manufacturing, Brazil has strong agricultural exports.

    Our domestics sector is mainly housing/infrastructural construction (how long can this go on???)- nothing of that is relevant to export opportunities and when global economies are hit, we have no escape avenue of traded goods and services of value looking for a rebound.

    WE ARE WHERE THE TIDE TAKES US – the rest has some momentum of economic discovery forward finding safe harbor.

    Only Singapore?: So all the countries mentioned in the article have structural issues?

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  • Rabble-rouser:

    @ Only Singapore?:
    If only things were so simplistic & the global economy issues could be so easily explained by the MS Press in one simple article which you’ve appended!

    Then we would have no worries like the recent ND speech which only touch on climate change but nothing on the global economic front:
    https://www.channelnewsasia.com/news/singapore/national-day-rally-2019-things-you-need-to-know-11819602

    This downturn is extremely complex on many externalities, on intertwined issues eg. US/China trade, hegemony; & very complicated through rising global imbalances within the financial sector & on currency issues affecting the global economic system. Nothing is as simple as it looks!

    S’pore has no real exports (little domestic manufacturing base) but we rely heavily on transshipment & being part of the global supply chain, on investments & capital, on financial flows through our GDP accounts. Our trade & financial flow through numbers are way above many other economies because our multiplier is many times our GDP. Those numbers do not indicate that we’re a “small market” like you say!

    S’pore, unlike the other Economies don’t really sell goods overseas! Our only commodity that creates value for S’pore is the SG$! Our product is currency stability, a tax haven, investor confidence & security – very fluidic qualities which can be easily written off through reciprocal or unilateral actions from other economies. Example: TPP, HSR, BRI.
    And that is why S’pore always need to constantly restructure it’s economy. You need to understand this before commenting. Otherwise, you sound very silly!

    Only Singapore?: We fell the hardest because of our small market. We are heavily reliant on exports.
    As reported in the above commentary.
    “these countries have a common problem,they are heavily dependent on selling goods overseas”
    So all the countries mentioned in the article have structural issues?

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  • Only Singapore?:

    @Oxygen
    @rabble-rouser
    We depend on trade to make a living all the while. And it has served us well the last half a century. How severe we will be hit this time is hard to tell.
    That’s why LKY reminded us Singapore need the most able people to run.
    We are just a tiny red dot and have no natural resources except our strategic location. And we needs very capable people who know how to capitalise on our strategic location in order to make a living.

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  • Rabble-rouser:

    @ Only Singapore?:
    Where have you been the last 2 decades?

    Eversince the dawn of the Internet age in 2000s & with B2B websites, S’pore’s entrepot trade, stockists role & arbitraging expertise (speculative activities) had been demolished through the Internet’s Online Price List exposure & Price Discovery mechanism. That process was called Disruption!

    I once knew someone (an ex-neighbour) who used to make a good living trading, selling,& distributing electrical components to regional markets. He used to change his car every 3-4 years upgrading each time to a more expensive European model between 1980 to 1999. But in the early 2000s, he suddenly closed up shop, sold off his warehouse/office & downgraded to an economy car. We had coffee afterwards & what he told me exactly synch with the Internet Revolution – that the (prosperous) life that we once knew in S’pore was essentially over.

    Why do you think that S’pore govt opted to allow 2 casinos to be build; in Marina Bay & on Sentosa Island in 2005? All the so-called wealth on show & on display in S’pore passes us by ie. “No Trickle Down Effect”. Foreigners reap the benefits while locals carry the burden eg. NS, unaffordable housing costs, high cost of living, etc. So simple yet you don’t even know!

    No point for me to teach you because unless you wise up. You’re so conditioned & indoctrinated that I can see you can’t understand truth even if it is in front of you.

    Only Singapore?:
    @Oxygen
    @rabble-rouser
    We depend on trade to make a living all the while. And it has served us well the last half a century. How severe we will be hit this time is hard to tell.
    That’s why LKY reminded us Singapore need the most able people to run.
    We are just a tiny red dot and have no natural resources except our strategic location. And we needs very capable people who know how to capitalise on our strategic location in order to make a living.

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  • oxygen:

    @ Only Singapore.

    IT MAY BE HARD TO TELL of severity of next downturn on LEE-jiapore for YOU, BUT DEFINITELY NOT FOR Rabble rouser and me.

    I will explain why.

    Only Singapore?: @Oxygen
    @rabble-rouser
    We depend on trade to make a living all the while. And it has served us well the last half a century. How severe we will be hit this time is hard to tell.

    LEE-jiapore is trapped in caterpillar mentality of following false prophet and hero, nothing changed for 5 decades except this

    Only Singapore?: We are just a tiny red dot and have no natural resources except our strategic location

    STUPID SELF-PITY AND INDOLENCE OF FACING REALITY OF THE NEED TO DIVERSIFY OUR ECONOMIC BASE BUILDING DOMESTIC SECTOR.

    Nearly 5 decades when I first set foot Down Under, it has a huge manufacturing base BUT THAT IS NOW EXTINCT.

    As a result,

    Australia holds world record for longest period of growth among developed economies

    https://www.austrade.gov.au/international/invest/investor-updates/2018/australia-holds-world-record-for-longest-period-of-growth-among-developed-economies

    Services is now the biggest economic sector.

    LEE-JIAPORE? the hardest hit of this downturn among the 9 economies of your mention.

    IT IS TELLING OF INCOMPETENT GOVERNANCE.

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  • oxygen:

    @ Only Singapore?

    For nearly 3 decades now (since got burnt in CLOB), I have NEVER invested/gamble on any risks opportunity in Singapore but bought opportunities with business exposure in HK, China, and anywhere else from PNG, to Africa to Alaska, Laos, Mexico to South America mainly in commodities sector.

    MY JUDGMENT IS VINDICATED IN THE COMMODITIES SUPER-CYCLE THAT FINALLY HIT THE ROOF POST GFC.

    LEE-jiapore is a lost cause and failure – I saw that more than 2 decades ago. As @ Rabble rouser will tell all – SGX total market capitalisation shranked massively since the GFC despite addition of new listing.

    A SHRINKING STOCK MARKET IS PROOF OF A SINKING DOMESTIC ECONOMY.

    PAPpypolitics and PAPpynomics refuse to wake up to reality and failing – only wallow in self-pity and delusion of fake superiority/wisdom.

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  • oxygen:

    @ Only Singapore?

    IT IS VERY SAD THAT YOU MOANED THE LACK OF NATURAL RESOURCES in LEE-jiapore. The truth is that they should have invested in listed natural resources decades ago to diversify our economic base BUT DIDN’T until the commodities peaked over its super cyce.

    Examples are plenty of wrong timing (incompetence). Paladin Energy is one.

    GIC needs a miracle for investments like Nirlon

    http://www.tremeritus.net/2019/07/28/gic-needs-a-miracle-for-investments-like-nirlon/

    They lost more than 98% of the value of this investment in less than 7 years.

    What about Pavillion Energy paid US$1.28 billion for 20% share in the Tanzanian offshore gas field which should have gone past final bankable feasibility study by now to take it into production development.

    WHITE ELEPHANT OF EERIE SILENCE.

    LACK OF NATURAL RESOURCES OR STUPID SELF-PITY OF INCOMPETENCE of LEE-jiapore seemingly forever?

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  • oxygen:

    @ Only Singapore?

    THIS PEASANT WAS ALSO EYEING URANIUM stocks, that was how I stumbled upon GIC tripping over Paladin Energy.

    Li Kah Shing got into another uranium explorer in Canada – long after GIC screwed up its investment in Paladin Energy. Smartie Li bought into Canadian uranium explorer in 2017 – NexGen Energy.

    NexGen Climbs After Li Ka-shing Doubles Down on Uranium Explorer

    https://www.bloomberg.com/news/articles/2017-06-30/nexgen-climbs-as-li-ka-shing-doubles-down-on-uranium-explorer

    And btw, the weblink below – referred to in the thread quoted above -GIC needs a miracle for investments like Nirlon – on GIC’s soured investment in Paladin Energy has either been removed or moved.

    IT WOULD HAVE BEEN AN INFORMING READ.

    .

    https://www.facebook.com/PeopleForTrueRulAussieOfLaw/posts/oxygenaugust-11-2014-at-931-am-quotegic-is-a-substantial-shareholder-of-australi/819011848132218/

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  • Only Singapore?:

    @Rabble-rouser
    //
    Where have you been the last 2 decades?
    Eversince the dawn of the Internet age in 2000s & with B2B websites, S’pore’s entrepot trade, stockists role & arbitraging expertise (speculative activities) had been demolished through the Internet’s Online Price List exposure & Price Discovery mechanism. That process was called Disruption!
    I once knew someone (an ex-neighbour) who used to make a good living trading, selling,& distributing electrical components to regional markets. He used to change his car every 3-4 years upgrading each time to a more expensive European model between 1980 to 1999. But in the early 2000s, he suddenly closed up shop, sold off his warehouse/office & downgraded to an economy car. We had coffee afterwards & what he told me exactly synch with the Internet Revolution – that the (prosperous) life that we once knew in S’pore was essentially over.
    Why do you think that S’pore govt opted to allow 2 casinos to be build; in Marina Bay & on Sentosa Island in 2005? All the so-called wealth on show & on display in S’pore passes us by ie. “No Trickle Down Effect”. Foreigners reap the benefits while locals carry the burden eg. NS, unaffordable housing costs, high cost of living, etc. So simple yet you don’t even know!
    No point for me to teach you because unless you wise up. You’re so conditioned & indoctrinated that I can see you can’t understand truth even if it is in front of you.//

    Sadly you ex-neighbour had lost his business to the internet Revolution.
    Is because of his inability to transform.
    But not Singapore because we are able to keep transforming our economy and follow the trends.
    If we use the median household income as a yardstick.
    From 2004 median household incomes is $4943.
    http://www.nas.gov.sg/archivesonline/speeches/view-html?filename=2001020903.htm
    In 2018 median household incomes is $9293.
    https://www.singstat.gov.sg/-/media/files/publications/households/pp-s25.PDF

    So the above figures tell us we need capable leadership to keep Singapore going.
    As for the 2 casinos we built is part of our tourism industry attractions.
    Despite lack of natural tourist attraction ,last year we managed to attract 18.5 million visitors here.
    This create business for hoteliers,tourism related jobs,business for f&b , taxis Drivers and others…..

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  • BK:

    Is median income the sole yardstick? How about income in relation to longest working hours, rising car & housing prices? High divorce rates and youth suicides?

    How about an increasing stratified society? A network of increasing incestuous headcounts in the government sector? Do all these structural changes affect future growth? Will political changes release more sustainable energy?

    Let’s say, u say the glass is half full. U are happy. But surely progress is asking what makes the glass half empty?

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  • Haigen-Diaz:

    Only Singapore?: But not Singapore because we are able to keep transforming our economy and follow the trends.
    If we use the median household income as a yardstick.
    From 2004 median household incomes is $4943.

    So the above figures tell us we need capable leadership to keep Singapore going.

    Economic development ultimately is more than just attaining elevated GDP growth rates or the median household income as a yardstick.

    THE RESPOND CAPACITY: Is the CURRENT POLICY LIKELY TO WORK? There have been some policy misjudgments over the previous decade that may have contributed to the financial woes of Singapore. Foreign labor inflows in specific have been liberalized to allow a flood of employees into the economy. The original impact was to increase development; however, it may have been less helpful for the longer-term effects.

    The accumulated cost structure inflation is likely to explain increasing complaints about rising costs in Singapore by the business sector. Infrastructure such as transportation, hospitals, schools, and housing supply did not keep pace. Allowing huge inexpensive foreign labor is probable to have dissuaded businesses from pursuing productivity gains that save labor. Therefore, it is not surprising that growth in productivity has lagged.

    In the Singapore economy, rising, large local businesses are comparatively uncommon compared to the financial height of overseas multinationals. Because of the export-oriented multinational policy that the government of Singapore has long favored, export-oriented manufacturing comprises mainly of overseas firms, with the supporting sector infrastructure being made up of local businesses. This contrasts sharply with the production models seen in Germany, Japan, South Korea, and Taiwan, which integrate worldwide competitive local businesses such as Germany’s Mittelstand, Japan’s keiretsu, South Korea’s chaebols, and Hsinchu Science Park, Taiwan’s world-leading semiconductor companies.

    Local firms in Singapore tend to be government-linked firms (GLCs) or Temasek portfolio firms (TPCs). The economy of Singapore has become unbalanced, with disproportionate positions for government-linked and multinational businesses and a shortage of regional or international non-GLC Singaporean businesses.

    As the economy of Singapore is so strongly affected by the out-sized role that the state plays in it, many of the factors for the weakened ability to react can potentially be attributed to political problems.
    The main reason for this decreased ability is that the policy reactions needed to support a successful adjustment may not evolve fast enough.

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  • oxygen:

    @ Only Singapore?

    SIMPLISTIC NAIVE ECONOMICS comprehension there.

    Only Singapore?: If we use the median household income as a yardstick.
    From 2004 median household incomes is $4943.
    http://www.nas.gov.sg/archivesonline/speeches/view-html?filename=2001020903.htm
    In 2018 median household incomes is $9293.
    https://www.singstat.gov.sg/-/media/files/publications/households/pp-s25.PDF

    Median HOUSEHOLD income increase for the following reasons

    - more Singaporeans enter the workforce in each household as marriage trend decline and less Gen Z can afford their own housing

    - nominal inflation driver pertinent to all economies, nominal wages if stagnant won’t find labor if food, shelter healthcare keeps escalating.

    In your statistics, household income expand by roughly 4% compounded per annum, if you adjust that by 2.5% inflation, real HOUSEHOLD median income grew by 1.5% per annum.

    NOW THAT IS SHITTY economic achievement considering household income earners also expanded as MORE FINANCIALLY-DISTRESSSED millenials and Gen Y stays in the same household they grew up in ADDING TO HOUSEHOLD INCOME.

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  • oxygen:

    @ BK

    PRESENT TENSE ADMITTED IN 2015 PUBLICLY ADMITTED that LEE-jiapore economy MAXED OUT.

    BK: Is median income the sole yardstick? How about income in relation to longest working hours, rising car & housing prices? High divorce rates and youth suicides?

    Then in 2016, he admitted that restructuring is NOT WORKING, that is why there is so much pain in the economy.

    @ only Singapore?, is this NOT CONFESSION OF INCOMPETENT GOVERNANCE that is long known to a NY jogger who probably have never set foot on Singapore.

    @ Only Singapore?, PLEASE READ THE COMPELLING EVIDENTIAL WRITING OF JASON TILLBERG IN A FAMOUS INVESTMENT PUBLISHING – SEEKING ALPHA in 2012, that is 3 years ahead of PRESENT TENSE FAILURE CONFESSION.

    Singapore’s Economy Is Maxed Out

    https://seekingalpha.com/article/905081-singapores-economy-is-maxed-out

    IN THIS SUNKEN ECONOMY, THERE IS STILL HORDES OF CAVE-MEN AND CAVE-WOMEN THINK PROPERTY PRICES CAN STILL RISE REGARDLESS OF SANK ECONOMIC FUNDAMENTALS?

    The property bubble can keep expanding without BURSTING with severe damages to the rest of the economy that is already known to Jason Tillberg and PRESENT TENSE TO BE SEVERELY AILING?

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  • Singapore only?:

    @Haigen-Diaz
    //Singapore has long favored, export-oriented manufacturing comprises mainly of overseas firms, with the supporting sector infrastructure being made up of local businesses. This contrasts sharply with the production models seen in Germany, Japan, South Korea, and Taiwan, which integrate worldwide competitive local businesses such as Germany’s Mittelstand, Japan’s keiretsu, South Korea’s chaebols, and Hsinchu Science Park, Taiwan’s world-leading semiconductor companies.
    Local firms in Singapore tend to be government-linked firms (GLCs) or Temasek portfolio firms (TPCs). The economy of Singapore has become unbalanced, with disproportionate positions for government-linked and multinational businesses and a shortage of regional or international non-GLC Singaporean businesses/////

    You’re comparing Apple,orange,durian…..
    Yes all are fruits but they need different conditions to grow to bear fruits.
    So as to a country.Different country also need different systems to work.The size of the country , the population size,political system ,country bless with natural resources all make a different.
    Example
    Australian can close shop at 5pm.They are a big country blessed with abundant natural resources,foods self sufficient .
    Can we in Singapore?
    90% of our daily necessities are imported.
    If all Singaporean don’t work,no good and services to sell can we survive?

    Our system have feeds millions of people for the last five decades.
    FLAW ?

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  • Rabble-rouser:

    @ Only Singapore:
    I only used the analogy of my ex-neighbour (it’s a true story) as an example for disruptive trends within the Internet age!

    It is like a “tsunami wave” of epic proportions. There is nothing like you say on my ex-neighbour’s ability (or lack of) to “swim” against this tidal wave. You just can’t go against it! In fact, he was smart to “pack it up” instead of persevering to the bitter end!

    And I’ve seen a number who failed to understand trends, thought it was a cyclical event (it wasn’t) & ended up on the scrapheap, penniless or being wage-slaves scrounging to keep themselves alive in their later years. You can see them – Foodcourt cleaners, Security guards, old-timers sitting at Kopi-tiams exchanging war stories!

    SGX stock capitalisation universe confirms that S’pore business universe continues to be shrinking as we speak & had shrunk by half since the GFC. Our neighbours bourses have grown exponentially in terms of their stock capitalisation in contrast!

    You say that “we are able to keep transforming our economy and follow the trends” sounds very hollow when the facts are staring right back at you!

    Only Singapore?: Sadly you ex-neighbour had lost his business to the internet Revolution.
    Is because of his inability to transform.
    But not Singapore because we are able to keep transforming our economy and follow the trends.

    oxygen: LEE-jiapore is a lost cause and failure – I saw that more than 2 decades ago. As @ Rabble rouser will tell all – SGX total market capitalisation shranked massively since the GFC despite addition of new listing.

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  • Rabble-rouser:

    @ Only Singapore:
    I am quite aghast with your simplicity (bordering on moronic proportions) in your economic knowledge.

    The SG$ value is highly inflationary inspite of what the S’pore CPI statistics (Inflation figures based on a basket of goods) might say (of low inflation in S’pore). The median household income you’ve mentioned may have grown in terms of numbers but if you included inflation into the equation, the purchasing value of 2018 median household incomes collapsed back to 2004 dollar values or even worse, meaning there is no REAL INCOME GROWTH at all.

    Put it into another perspective, the bowl of fish-ball noodles in 2004 was $2.50 then. In 2018, it now cost $4.50 to $5.00. Even if your income (say hourly wage) goes up from $5/hr in 2004 to $10/hr in 2018 – your purchasing power had remained stagnant inspite of your hourly wage going up from $5/hr to $10/hr!

    Likewise, 2004 Private property values were around @ $500-600 psf for non-Prime areas & @ $900-1,100 psf at Prime locations. Today, you’re now talking about @ $1,500-1,700 PSF (non-Prime) & $3,000 psf upwards for Prime areas.

    And you think that lives in S’pore are getting better with higher median household incomes?

    Regarding tourism, 18.5 million visitors “arrivals” as I would called it doesn’t translate to tourist dollars spent.

    A better guide would be the number of days spent in S’pore itself. I suspect most stays in S’pore were 2-3 days duration after which they move on to other destination. Which brings back to the fact that Changi Airport is only a stopover destination to other places or worse, for tourist job-seekers into S’pore!

    Again, the deflationary experience of Jewel @ Changi speaks for itself. From a vibrant 24-hour dining experience, now F&B businesses (after 3-4 months of Euphoric crowds) are re-negotiating with the Mall management to cut back on their operating hours to cut on manpower costs as the “Euphoric” crowds suddenly shrink once the “waterfall” novelty wore off.

    Only Singapore?:
    If we use the median household income as a yardstick.
    From 2004 median household incomes is $4943.
    In 2018 median household incomes is $9293.
    So the above figures tell us we need capable leadership to keep Singapore going.
    As for the 2 casinos we built is part of our tourism industry attractions.
    Despite lack of natural tourist attraction ,last year we managed to attract 18.5 million visitors here.
    This create business for hoteliers,tourism related jobs,business for f&b , taxis Drivers and others…..

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  • Rabble-rouser:

    @ Singapore only?:
    Ha-ha-ha-ha! It becomes very clear that you’ve not travelled to Australia over the last decade!
    Big Supermarkets & stores now closed much later than the 5pm you’ve mentioned.
    In Australia, there’s even 24 hour Supermarkets, convenience stores & Macca’s, too.
    Please don’t make me laugh! Ha-ha-ha-ha!

    Singapore only?: Australian can close shop at 5pm.They are a big country blessed with abundant natural resources,foods self sufficient .
    Can we in Singapore?

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  • Rabble-rouser:

    @ Singapore only?:
    Like you say “90% of our daily necessities are imported” & S’pore need to work to pay for it!
    But ask yourself this question:
    1. What are the “goods & services” we sell to the Greater world at Large?
    2. What sort of value-adding service can we contribute to the Greater world at large?
    3. How did we feed ourselves for the last five decades?

    You yourself had provided some of the answers to the above questions:
    1. S’pore “have no natural resources”;
    2. No huge industrial base ie. production models seen in Germany, Japan, South Korea, Taiwan & China;
    3. Not a global financial services centre like NYC & London (not HK nor S’pore whom are only regional players);
    4. No strong agricultural export economy like the US, Canada, Australia & Brazil because S’pore is only “just a tiny red dot”;
    5. Our strategic location in order to make a living (but in an Internet age, DISINTERMEDIATION is a huge threat + China’s BRI shift trade routes).

    Bluntly speaking;
    * S’pore under the PAP, we have nothing to sell nor any critical services to provide to the Greater world at large;
    * Without creativity & innovativeness, S’pore can’t value-add anything thing! S’pore’s educational mechanism is too stifling;
    * And we have “fed ourselves the last 5 decades” using:
    1. the now outmoded Winsemius economic model of MNC dominant, foreign manufacturing investments model &
    2. arbitrage SG$/RM Forex for agricultural imports from M’sia – PAP imported M’sia low food inflation into S’pore’s economy.

    Once you realised our “Coat of Armour” the PAP claimed to have over the S’pore Economy – the sense of vulnerability arises because we don’t have such armour! S’pore is in fact increasingly becoming very fragile (a state worse than vulnerability).

    The PAP have chosen for themselves without our knowledge; configured S’pore for population growth policies, constructed concrete beauties of high capital expenditure to entice foreigners, provide hidden benefits like scholarships (foreigners reap the benefits, local carry the burden). Hard work will not lead to any good conclusions – you’re being fooled constantly!

    Like I say, you chose not to see the facts which are right in front of you!

    Singapore only?: 90% of our daily necessities are imported.
    If all Singaporean don’t work,no good and services to sell can we survive?

    Our system have feeds millions of people for the last five decades.

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  • Haigen-Diaz:

    Singapore only?: You’re comparing Apple,orange,durian…..
    Yes all are fruits but they need different conditions to grow to bear fruits.
    So as to a country.Different country also need different systems to work.The size of the country , the population size,political system ,country bless with natural resources all make a different.
    Example
    Australian can close shop at 5pm.They are a big country blessed with abundant natural resources,foods self sufficient .
    Can we in Singapore?
    90% of our daily necessities are imported.
    If all Singaporean don’t work,no good and services to sell can we survive?

    Our system have feeds millions of people for the last five decades.
    FLAW ?

    @ Singapore only?
    Thank you. A good pointer.

    There are several answers to your pertinent question. One, ignorance of economics and monetary policy. Many people just do not understand numbers, mainly because they never really got interested or couldn’t handle math to start with. (I am referring to others, I believed you’ve the quintessential for economics :)

    In a society whose government, laws, economy, and politics are dictated to by whomever holds the most wealth, effort alone, on the part of 99% of the population, will yield nothing. That is the nature and effect of an oligarchy.

    I’ve been arguing against these positions for decades, backed by considerable empirical evidence showing that moderate changes to tax rates, minimum wages, union density, the safety net, regulatory oversight and so on trigger nothing like the disasters their opponents claim and can yield important benefits (which is not to say there are no “negative impacts” at all).

    Yet the bar to win the anti-interventionist argument is set remarkably low. You don’t need evidence; you can just cite “basic economics.””

    You can read the rest here: http://jaredbernsteinblog.com/why-is-capital-so-much-stronger-than-labor/

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  • oxygen:

    @ Singapore only?

    YOU BARKING NONSENSE below. Mining boom in the natural resources sector is NOT THE CURE-ALL and fortune harvest for Australians.

    Singapore only?: Example
    Australian can close shop at 5pm.They are a big country blessed with abundant natural resources,foods self sufficient .

    It is BOOM-BUST CYCLE – the bust cycles are usually extending much longer than the boom and each bust cycle did PHENOMENAL AMOUNT to household income and balance sheet ESPECIALLY PROPERTY PRICES THAT CAN FALL UP TO 65% FROM PEAK.

    READ THIS WEBLINK FOR YOUR LITTLE EDUCATION.

    Figures show extent of WA property market wipe-out since end of mining boom

    https://thewest.com.au/business/housing-market/survey-shows-extent-of-wa-property-market-price-drop-after-mining-boom-ng-b88900994z

    The West Australian : The full impact of the end of the mining boom on WA’s property market has been revealed with new figures showing falls of up to 73 per cent in house and unit values over the past decade.

    Compiled by CoreLogic, the figures show no State or Territory has performed worse than WA since 2008.

    In 2008 the median house price in Perth was almost on a par with that of a Sydney house. They are now close to $500,000 apart.

    PLEASE DONT TALK RUBBISH HERE ABOUT MATTERS YOU ARE COMPLETELY CLUELESS.

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  • BK:

    @ Oxygen, Yo bro, first, something about PAP IBs.

    I noticed that after Jason Chua of FAP got arrested for violating Cooling-Off Day rule (as was Teo Soh Lung and Roy Ngerng)in June 2016, the PAP IBs here became quiet.

    And now, neutered, they try some sophistry. But goad them a little, they cant help themselves. I am willing to bet that some of the emails can be referenced to the data that the police collected.

    The elections will be after the budget next year. DPM Heng will be praying for extra budget surplus to sweeten the ground. I think is a good chance we shall see the 60% popularity level tested.

    4G really has no charisma. PAP may claim some superior foresight, but against a generational cyclical shift in global economics and politics, even LKY will have problems.

    My wish is for an opposition strong enough to force PAP to relook at the CPF feeding the Sovereign funds loop. We should have CPF run by an independent body that is responsible only to enrich the CPF members. Not supporting the SWFs. The SWFs with an assurance of continuous feeding from CPF funds into their coffers are making decisions based on the safety of CPF funds. Cut this pipeline. Let them compete on their own wits.

    Why should the assets bought by CPF funds be owned by SWFs? And in fact, the funds generated by land sales should go into the CPF for Singaporeans pensions.

    The government already has active surplus through various schemes that are particular only to Singapore such as COE. If they need more funds then sell their bonds.

    The future economy will increasingly open up the gap between the haves and the haves not. In a way, the structural consequence of technology makes it inevitable as capital becomes more valued than labor.

    So one way for (Spore)labor is to aggregate our capital via CPF. And to share this among Sporeans outside a government that is also capitalist, a conflict of interest to say the least.

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  • oxygen:

    @BK

    FAP IS FOBS (full of bullsh*t) mindless drivels aiming at the naive and uninformed. Peasants are increasingly informed of reality. They are increasingly isolated.

    My reliable informed source has it that PAPpypolitics is surreptitiously testing the ground for sweetness/bitterness post NDP drama-hype political theatre. When election? I don’t know.

    BK: The elections will be after the budget next year.

    In a simplistic post-colonial era, it might be easy to move peasants along.

    BK: 4G really has no charisma. PAP may claim some superior foresight, but against a generational cyclical shift in global economics and politics, even LKY will have problems.

    In the internet age, even PAST TENSE’ CHARISMATIC STAGE THEATRE IS USELESS. But without that, 4G is surviving on HUGE DEFICIT of public attention otherwise concealing PAPpypolitics usual diet supply feed of fake motherhood preaching.

    BK: My wish is for an opposition strong enough to force PAP to relook at the CPF feeding the Sovereign funds loop. We should have CPF run by an independent body that is responsible only to enrich the CPF members. Not supporting the SWFs. The SWFs with an assurance of continuous feeding from CPF funds into their coffers are making decisions based on the safety of CPF funds. Cut this pipeline. Let them compete on their own wits.

    Why should the assets bought by CPF funds be owned by SWFs? And in fact, the funds generated by land sales should go into the CPF for Singaporeans pensions

    I like this brilliant suggestions of yours above. CPF is NOT sovereign money but private property of peasants, SWF have no business to put its dirty fingers in the cookie jar.

    IF SWF CANNOT SURVIVE ON ITS OWN CAPITAL AND WIT, SHUT IT DOWN NOW.

    RETURN CPF TO US PUNCTUALLY AT 55 UNCONDITIONALLY.

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  • Rabble-rouser:

    @ BK, oxygen:
    Our mate, oxygen was right on the money when he remarked that PAP were:
    1. Lousy businessmen who can’t even grow businesses to global status;

    2. Horrible Asset traders who don’t even know which end of the market to trade (eg. Buy high, Sell low).

    But with recent geopolitical turmoil, I would add one more to “oxygen’s Law” (like Moore’s Law of exponential growth in computing power):

    3. Tone-deaf in diplomacy with regards to overseas political developments resulting in Geopolitical missteps & in foreign relations brouhaha!

    In the forthcoming years, this 3rd oxygen’s Law would even become more important & acute as I see a growing fractitious world order;
    * the US & it’s reducing circle of allies (Trump just fiacked off Denmark, Iceland spurned US VP Pence’s meeting) against;
    * the emerging Sino-Russia Alliance & an expanding list of allies.

    Even fence-sitters are becoming wary of Trump’s belligerent behaviour & US military complex aggressive tone!

    PAP is caught between a hard rock & the deep blue sea with their policies. Their population growth policies aren’t fooling any of the smarter S’poreans who can see through their illusion of “Foreign Talent infusion” – that “foreigners reap all the benefits, locals carry all the burdens!”

    In a nutshell, the ingredients going forward for a less cohesive society while elements for a fifth column grows stealthily stronger.

    The recent MediaCorp “Brownface” brouhaha did the PAP no favours with the Indian minorities – it merely reinforced the heavy-handedness of the govt & their enforcers on the other races “Persecution Complex”. Taken against a greater sea of numbers, the S’pore minorities actually have more brethren beyond our shores. Yet S’pore govt-to-govt relationship with China is itself fractured. Short of saying, even the Mainland Chinese would disowned S’pore Chinese.

    Long ago, I myself had heard minorities themselves expressed & uttered that their own PAP representatives were no more than “Uncle Tom” in the political equation. The other races if one were to observe carefully, have already closed ranks within themselves.

    The sad thing was the some of the Chinese majority actually took offence with the Nair’s hilarious video when the video was done in good (poking) fun. Although it might seemed offensive to certain tight ar**es but “Brownface” was started by the racially insensitive MediaCorp. But hey, we’re now in the YouTube, social media era! Lighten up!

    - Cont’d -

    BK: 4G really has no charisma. PAP may claim some superior foresight, but against a generational cyclical shift in…

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  • Rabble-rouser:

    - Cont’d -
    The PAP have chosen the pathway for themselves without our knowledge; configured S’pore for unbridled population growth policies, constructed concrete beauties of high capital expenditure, high maintenance upkeep to entice foreigners, provide hidden benefits like scholarships & other incentives to draw foreigners into our fold.

    The problem has become that our CPF had been sunk into the impressive Infrastructural Spending “White Elephants” with little prospect of ROI & capital recovery. That is why “Foreigners reap all the benefits, Locals bear all the burdens.”

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  • Rabble-rouser:

    The DJI just crashed again @ 450 points on 23/08 ie. Friday’s close after China unveiled new tariffs for US goods. Trump responded by “ordering” US companies to look for alternatives to China – “As if it was so simple?” Trump is looking exceptionally weak under global media glare. This coming after a diplomatic stoush over Greenland with territorial administrator, Denmark. Trump is looking like an idiot!

    And frankly, Trump is losing ground on the trade war with China. Trump has no real answer to China’s actions & reactions.

    “The Art of War” – Sun Tzu Ping Fa is with China’s momentum at the moment. The US are used to exerting overwhelming force on their opponents & enemies but can’t handle Asian guile & cunning on the battlefield.

    Look at the wars they fought on Asian soil (after WW2 Japan) – they ended ingloriously for the mighty US military; stalemate in Korea; defeat in Vietnam. And I’m no pro-China fan like Tan Kin Lian who is a disguised Commmie fan.

    All in, it doesn’t look good for the Global Economy. The US/China trade war is actually escalating, not being diffused like many confident Wall Street analysts had predicted at the beginning.

    Many with typical American arrogance thought that China would bend over & acquiesce to the US demands like what Japan did during the 1985 Plaza Accord leading to the appreciation of the J¥ & subsequent nearly 4 decades of lost economic growth. But China isn’t Japan!

    And after last Wednesday’s crash of 800 points on 14/08 & subsequently Index recovery by those “Buy on The F**kin Dip” (BTFD) brigade. Even those momentum traders with “balls of steel” might consider a new less stressful vocation after this. Truly, America’s “paper” wealth is literally being destroyed with their own stockmarket with this ongoing trade war with China. The Global Economy is facing Systemic Risk! With an idiotic US leader like Trump, the nuclear option might even be considered.

    And I’ve been called out for my pessimism on S’pore’s property market by those TRE Perma-Bulls who think that the S’pore property is on the upturn & “888″ from here all the way. Ha-ha-ha-ha!

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  • TruBlu:

    Some say Sg lacks *natural* resources but isnt HUMAN CAPITAL oso a form of RESOURE in this fast-moving,fast developing modern tech world?
    So,whats *natural resource* SILICON VALLEY possess?…except its ability to attract TOP TALENTS NOT FAKE TALENTS that PAPsters dump here?
    In the process,many good LOCAL TALENTS have been made CHRONICALLY REDUNDANT.
    WHAT A WASTE OF RESOURCE indeed!

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  • TruBlu:

    DJI is just correcting the *IRRATIONAL EXUBERANCES* it di$played the past FEW YEARS especially with the INCREDIBLE TWEET$ from TWITTER-IN-CHIEF DT.
    What else have actually contributed to such forceful n FALSE RALLY?

    ECONOMIC REASONS?

    THE MADNESS IF CROWD BEHAVIOUR is just like herds of MAD COW$, isnt it?

    THE RICH MAKES NEW$ SO THAT GET RICHER WITH THE *FAKE NEW$* they churn out from thrir PRE$$ MILL$ , be it BLOOMBERG OR FOX,does it TRUly matter at all?
    As long the $$$ keeps pouring in?

    Many are deceived n many more deceive themselves!

    Wake up,so many lost their jobs,eetailers catch mosquitoes n even close shops?

    What so good about the economy that stock markets ran AMOK?

    TOO MUCH MONEY BEING KEPT IN THE HANDS OF THE RICH IN THE LANDS OF THE POOR N OSO ID THE RICH?

    BAD FOR ECONOMIC DEVELOPMENTS EVEN AS MORE BILLIONAIRES ARE BEING DHURNED OUT SO QUICKLY?

    THINK.

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  • TruBlu:

    And,btw, what with the HUGE AMOUNTS OF DOLLAR$ THE FED PRINTED OVER LAST DECADE or so?

    Did the MONEY FLOW INTO THE PEOPLE’S HANDS N bring about REAL EFFECTIVE AGGREGATE CONSUMPTION that is much needed to add fuel to the dying economic engine or did those PRINTED $$$ actually all gone to make the AMERICAN DREAM OF THE RICH N POWERFUL EVEN MORE WONDERFUL?

    Hey,its much like that all around the world.
    Even here in SingLAND???

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  • oxygen:

    IF PAPpypolitics is competent, how come our economy MAXED OUT long ago and PAPpynomics is CLUELESS of the way forward?

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