An economy on steroids will break down sooner or later

Does PM Lee Hsien Loong think that increasing immigration and inflow of foreign workers the best way to keep on driving the economy?

Since he took over in 2004, we see an “artificial” influx of immigration – a contrast with the “natural” population growth from 1965 to 2004 under former Prime Ministers Lee Kuan Yew and Goh Chok Tong respectively.

We can use steroid bodybuilders and natural bodybuilders as an example. Natural bodybuilders don’t look as good as steroid bodybuilders but are very healthy internally. By contrast, steroid bodybuilders look great on the outside but their internal organs are under pressure for having too much non-natural substances.

Just as steroid bodybuilders cannot continue taking steroids forever, we cannot use an increase in our population to increase GDP .

Just yesterday, I spoke to a family where both the husband & wife (who are in their 40s) are currently unemployed as they were retrenched and replaced by foreigners. Another young lady and her sister (who are in their 20s) cannot get any job – even low paying packing, warehousing, logistics, retail, F&B jobs. They are behind in utility bill payments and owe about $700 to $900.

These are real life evidence that current policies – while they benefit the big MNCs – do not affect the ordinary Singaporean citizen.

Prabu Ramachandran

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102 Responses to “An economy on steroids will break down sooner or later”

  • opposition dude:

    Well, let’s all wait for the eventual demise then. Once that happens will there be even more fear by the kiasees since they would think the country sure 100% will collapse so vote PAP if a snap election was called?

    Or would clearer heads and minds prevail and the majority of kiasees use their F’king brain for once and realise that PAP is yesterday’s news?

    Who knows…..

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  • Prostate will Cheat:

    The only way to wake u Singaporeans is when over half the population suffer financially .

    Clearly, from the media we can see their extreme reliance on attract foreigners to this “jewel” of a mirage.

    Look at how many tv programming are sponsored by the minstery of cummunikahcherng.

    If she education really so great , why is the jewel architected by a foreigner ? Sg educated architects are not the chief architect behind the jewel design.

    Maybe do a ping-pong olumpica ? Offer him citizenship? Hahaha.

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  • PAP CLOSE DOWN:

    An economy on viagra will deflate. Spore like an old man take viagra still cannot stand.

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  • 70% sheep ask for it:

    Just yesterday, I spoke to a family where both the husband & wife (who are in their 40s) are currently unemployed as they were retrenched and replaced by foreigners. Another young lady and her sister (who are in their 20s) cannot get any job – even low paying packing, warehousing, logistics, retail, F&B jobs. They are behind in utility bill payments and owe about $700 to $900.

    nowadays when we hear such sob stories, we have great joy.

    1st, because they are likely, LIKELKY, to be the sheep who voted pap causing themselves the misery.

    2nd, the more the merrier. the more such sheep, the more such suffering. until critical mass is reached, these sheep continues to vote pap despite suffering. only when pain threshold is burst, then do they wake up and vote OPPO.

    3rd, clap clap clap. they asked for it. blame nobody except themselves. if they voted OPPO, too bad. their friends neighbours colleagues who voted pap dug them in.

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  • oxygen:

    @ PRABU, it is NOT an economy on steroids BUT ONE FERTILIZED BY (foreign) MANURE influx that will run out of space congestion to squat and sh*t in little LEE-jiapore.

    THIS IS A DEAD END ROAD AND WE ARE FAST REACHING DESTINATION.

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  • Harder Truths:

    “…Just yesterday, I spoke to a family where both the husband & wife (who are in their 40s) are currently unemployed as they were retrenched and replaced by foreigners. Another young lady and her sister (who are in their 20s) cannot get any job – even low paying packing, warehousing, logistics, retail, F&B jobs. They are behind in utility bill payments and owe about $700 to $900….”

    Tell them to vote oppo or shut up. Problem solved.

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  • Bad Boy:

    Similarly theres also too many PRC dramas or variety shows. Now even Sat evening night they show PRC movies , what 解憂雜貨店 with Jackie Chan ? Boey kua!

    The singing variety shows also getting boring. Jokes are also lousy.

    We also have some mediacorp prc actors e.g. 大話精 … Acting reasonable ok but please loose the china accent. Traditional Standard chinese dont have that kind of accent until Mao came. All these prcs start imitating him and his 湖南話.

    Latest drama 陳情令 as i said before the same scene occur again. Some guy take a arrow and aim. Camera zoom in his face, he appear very focus , cool like damn sard like that. Release the arrow and camera just follow the arrow until it hit some target. Kua liao chin du lan cum sian.

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  • have a better skill:

    //Just yesterday, I spoke to a family where both the husband & wife (who are in their 40s) are currently unemployed as they were retrenched and replaced by foreigners.//

    well, our white monkey idiots will suggest to upgrade or upskill as those these FTs who replace or displace have a better skill in doing the same thing ?

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  • Bapak:

    Just yesterday, I spoke to a family where both the husband & wife (who are in their 40s) are currently unemployed as they were retrenched and replaced by foreigners.
    =====================================================================

    Who did these two voted for? Tell them to vote wisely this time. Vote PAP out!

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  • Tremendous:

    The reason they do not want to remove the ‘foreigner steroids’ is because they cannot raise the fertility rates. Look at HSK. He has no idea how fortunate he is to be sitting where he is now. All he is doing is ask the public to try and run a budget as a finance minister. Remember the last time he asked for National Conversation ? After that he and his kaki slipped in the Population White Paper and raised the President’s salary without going through the conversation.
    He would have gotten a hundred points if he had said this together with another announcement to go to the ground personally and understand :
    (a) those having low income, including those who perpetually earn less than 1k per month
    (b) citizens and their issues on low fertility rates instead of sending some policy organization to find out after these years.
    He gets zero points for only suggesting the part on budgeting, obviously planning on the budget in his aircon office again.

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  • into an unguarded lull:

    //Look at HSK. He has no idea how fortunate he is to be sitting where he is now. All he is doing is ask the public to try and run a budget as a finance minister.//

    this is another wayang drama designed to put daft sinkies into an unguarded lull (& taking the heat off the white idiots) ? run budget ? for average daft sinkies, very simple (no need to be complex) and straightforward, reduce GST and all the mandatory fees / taxes (direct and indirect) ?? now, are all these doable ? afterall, it is asking to keep more ($$$) for ourselves and lessen our burden right ?

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  • Lost their way:

    Like it’s said “… they have lost their way.”

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  • Financially Speaking:

    “An Economy on Steroids” – C’mon, don’t make my toes laugh!

    S’pore is an old man’s economy! Even with Viagra/Cialis, S’pore’s old-man Economy cannot even hope to achieve any erection. A yesteryear’s Economy with no hope for the future!

    The S’pore Economy had been chugging badly, more like stumbling on exhaust fumes left behind by the now-extinct Globalisation effort which ended over 3 years earlier.

    When Trump truncated the TPPA immediately upon swearing in as POTUS on November 2016. And over 3 years later, Trump initiated the US-China trade wars by unilaterally imposing tariffs on China-originated goods in 2019. S’pore’s economy immediately took a deep dive! Why?

    A technical recession was avoided purely because of the concurrent Big Ticket Infrastructural Spending re: MRT new construction, Paya Lebar Urban reconstruction, roads & civil works, etc.

    Why do you think suddenly there was the Upgrading Exercise on the existing North-South & East-West Lines? All these type of Infrastructural Spending will only lead to more debts (& a higher cost of living down the road).

    How do you compete Internationally with a high cost structure & with a distinctly 3rd world workforce “enticed” from lesser countries using a seductive SG$?

    Where is the competency? the relevant skillsets? the Productivity? In truth, there is none!

    And when they in their own countries, a high proportion of them still “shite” outside in the open!

    After Artificial intelligence comes online, what happens next? Can S’pore even reach 10 million?

    There is already a Paradigm Shift within the Global Economy. The sun is setting in the West (US, EU) & rising in the East (China, SEA). Those who can’t understand this are doomed to fail. Like those 70% voters in 2015 GE.

    China are already blazing a trail within their own economy. Their cashless system is already going to be nearly 10 years old beginning around 2010 to 2013 (in rollout stages). 5G/6G Mobile Network is China’s to lose but there is no real competitor over the horizon.

    It took S’pore too much time to even rollout their digital banking mechanism (for cashless payment):
    * First identified in 2017
    (a good 7 years after the fact – And China’s politicians weren’t even paid millions yet they had the 1st mover advantage); &
    * still in the licensing stage in 2020!

    What’s the excuse? Are the CECA programmers still shaking their heads at the task ahead?

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  • Just do it -VTO:

    More and more natives are suffering thro job losses and unemployment.
    Hope it translates into votes for opposition parties.

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  • Heng tries to run our budget!:

    “I think the character (Mr. Bean) does tend to suit an episodic thing, because what’s fun about him is that he doesn’t care about anyone else, and it’s very difficult for a main character – a lead character – in a movie to not care about anybody else.”

    - lead actor Rowan Atkinson

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  • Sojoürner of Truth:

    Financially Speaking: “An Economy on Steroids” – C’mon, don’t make my toes laugh!
    S’pore is an old man’s economy! Even with Viagra/Cialis, S’pore’s old-man Economy cannot even hope to achieve any erection. A yesteryear’s Economy with no hope for the future!

    The S’pore Economy had been chugging badly, more like stumbling on exhaust fumes left behind by the now-extinct Globalisation effort which ended over 3 years earlier. Why do you think suddenly there was the Upgrading Exercise on the existing North-South & East-West Lines? All these type of Infrastructural Spending will only lead to more debts (& a higher cost of living down the road).

    @Financially Speaking
    Ha-ha-ha…Singapore’s entire business and political career has been a Potemkin Village. High costs and premiums for dysfunctional services are no help. In aggregate what we have been up to as a country, especially in the last 15 years, hasn’t been working. People should be ready for a re-boot.

    There’s no doubt that looks can be deceiving. And anyone looking at the present economy knows that — especially since there’s no such thing as ‘infrastructural spending’ without consequences.

    To me, two things are holding this country back. 1 – Lack of initiative and investment in developing our people and our capabilities, 2 – A culture of complacency and scapegoating, helping to prevent #1.

    Going forward, I suggest that concerned citizens must start demanding integrity from those we grant power to.

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  • Dr. Chan:

    Singapore has no natural resources invent/make/produce/export nothing. Import almost everything including the food/water and cheap labour. Depends on the seaport, money laundering as a financial hub which will and can be overtaken by neighbouring emerging economy countries.
    No amount of steroids can build muscle mass on a small skeletal structure frame with no lean muscle fiber.

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  • Don't cry for me , Singapore:

    Lost their way:
    Like it’s said “… they have lost their way.”

    Ultimately when sinkiesland collapses, they would have parked their $m outside and then run road.

    You sinkies die, your problem.

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  • Michael Lee:

    We have our own Mr. Bean-like character making a mockery of himself in parliament.

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  • S’pore need economic pillars:

    The number of Singapore citizens is around 3.5 million.
    1 million are boomers, those born in 1946 to 1964 & Pioneer Generation is about 4 hundred over thousand people.
    Those baby boomers who are born in 1946 are already 73 years old, and majority of them have already retired.
    Our birth rate last year is 1.14.
    Today we are a major financial centre, air hub, having one of the busiest ports, and pharmaceutical, petrochemical and many many more economic pillars… These create different types of jobs & opportunities for Singaporeans. Because of our size, we don’t have any economic buffer other than our port.
    So we need to have an appropriate population size to build many economic pillars to sustain our economy and bring in diverse kind of jobs for Singaporeans.Like today oil and gas sector not doing well but it does not affect us badly because we have other economic pillars to support.
    Imagine if today we are without the approximately 2 over million foreigners to help us. Many businesses won’t be here, many good jobs won’t be here, because there are not enough workers to support the industries.
    Even our status as a financial centre will disappear. And many opportunities will be lost.
    Worse still, with our birth rate of 1.14, it is a only a matter of time that we will be in serious decline and disappear.
    Who will suffer? The younger generation.

    Singapore is man-made.
    Jobs need to be created. Opportunities need to be created. They don’t come naturally.
    Imagine if today Singapore fails. There won’t be jobs for us. Where are we going to find jobs?
    In the neighbouring countries?
    Are there jobs for us there? Can we make this kind of income we are making now?

    Only an irresponsible government will do nothing and let Singapore decline and let Singaporeans suffer.

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  • S'pore needs economic pillars?:

    (*Imagine if today we are without the approximately 2 over million foreigners to help us. Many businesses won’t be here, many good jobs won’t be here, because there are not enough workers to support the industries.*)

    It’s a big unwarranted leap of logic to state that we need over 2

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  • Last option:

    @ Jobs need to be created. Opportunities need to be created. They don’t come naturally.
    Imagine if today Singapore fails. There won’t be jobs for us. Where are we going to find jobs?
    In the neighbouring countries?

    撈偏.

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  • Sojoürner of Truth:

    S’pore need economic pillars: The number of Singapore citizens is around 3.5 million.
    1 million are boomers, those born in 1946 to 1964 & Pioneer Generation is about 4 hundred over thousand people.
    Those baby boomers who are born in 1946 are already 73 years old, and majority of them have already retired.

    @S’pore need economic pillars:
    Based on your statistics, 1.4 million Singaporeans are already economically ‘inactive’ leaving another 2 millions Singaporeans vying for jobs against 2 million foreigners. Which country in the world matches 50-50, local citizens versus foreigners?? Give me an example and I will rest my case.

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  • Financially Speaking:

    @ Dr. Chan:
    S’pore’s Seaport Location can be rendered impotent by Infrastructural Spending on alternative transportation nodes like:
    * Railway through the Ancient Silk Route into Europe;
    * Arctic Shipping through Siberian waters to Scandinavian countries & even Canada during Summer months;
    * Combined China-friendly seaports with China-funded railways bypassing Strategic choke points like S’pore.

    Money Laundering & Financial Hub Status threatened by increasing Global rejection over the US$ Reserve Currency Status. The US$ is already a debased currency; much of the Western wealth created are largely:
    * illusionary – overvalued, overinflated financial assets,
    * financialization using huge amounts of leverage to generate subpar returns, moved asset prices beyond intrinsic values.

    China’s cashless system using non-bank entities (AliPay, WeChat Pay) as transactional parties threatened the established US banking & transactional order (Visa, MasterCard, Amex).

    And when China dominates the 5G/6G digital highway & Chinese digital platforms (AliBaba, TaoBao, WeChat, etc) turned into English language format, S’pore is Roast Goose (ready to serve & be eaten).

    Efficiency, low-cost operations will defeat cartel pricing imposed by US banking interests over the Globe. What then?

    Dr. Chan:
    Singapore has no natural resources invent/make/produce/export nothing. Import almost everything including the food/water and cheap labour. Depends on the seaport, money laundering as a financial hub which will and can be overtaken by neighbouring emerging economy countries.
    No amount of steroids can build muscle mass on a small skeletal structure frame with no lean muscle fiber.

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  • Financially Speaking:

    @ S’pore need financial pillars:
    Your Economic Narrative is no longer relevant in the emerging Global Economy that will be dominated by China & other interests in the coming years. The threat of S’pore Economic irrelevance is both imminent & real!

    S’pore’s present-day functional roles ie. financial centre, air hub, seaport, pharmaceutical, petrochemical, etc are all in danger of being disrupted & migration possibilities to lower cost of production centres.

    The level of Indebtedness & Malinvestments for S’pore are out of this world. S’pore’s Economy can’t sustain on this level in terms of effectiveness & competitiveness. Using cheap foreigners as labour inputs is equally insane!

    Nothing stands constant over time especially when emerging Global Powers like China are challenging established order like the US. When S’pore’s educational mechanism can’t instill creative thinking & innovativeness but only conformist attitudes & obedience, you’re cooked!

    The new order will be entrepreneurship & business formation, not mindless jobs. You’re barking up the wrong tree with your emphasis on jobs. Artificial intelligence will kill scores of routinized jobs & mindless work. Then what?

    S’pore need financial pillars: Today we are a major financial centre, air hub, having one of the busiest ports, and pharmaceutical, petrochemical and many many more economic pillars… These create different types of jobs & opportunities for Singaporeans. Because of our size, we don’t have any economic buffer other than our port.

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  • mike:

    Just one thing, why plenty of you are so envy about cashless system?

    Since 2005, whatever the SG gov tries to promote or encourage are leading to more miseries. I failed to understand why peasants are so happy with CASHLESS SOCIETY / SYSTEM?

    And why anyone with right mind are so HAPPY & ENVY of systems loved and promoted by CCP?

    You REALLY THINK CASHLESS IS FOR YOU?
    You REALLY THINK 5/6G IS FOR YOU?
    You REALLY THINK STOPING USAGE OF STRAW IS FOR YOU?
    You REALLY THINK LESS SUGAR IS FOR YOU?

    Tell me, why it is REALLY for ME? And WHY you THINK you are so PROUD OF IT if you have it? Suckers.

    Financially Speaking:
    China are already blazing a trail within their own economy. Their cashless system is already going to be nearly 10 years old beginning around 2010 to 2013 (in rollout stages). 5G/6G Mobile Network is China’s to lose but there is no real competitor over the horizon.

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  • Bapak:

    Ideally if implemented correctly, but why so many Singaporeans are jobless? Isn’t it the government responsibility to address this VERY BIG problem? Instead we treated like child asking for sweets & refused with the job data. What are they hiding?

    You seems like a bright chap and knowing a lot, do tell us the whole truth.

    S’pore need economic pillars:
    The number of Singapore citizens is around 3.5 million.
    1 million are boomers, those born in 1946 to 1964 & Pioneer Generation is about 4 hundred over thousand people.
    Those baby boomers who are born in 1946 are already 73 years old, and majority of them have already retired.
    Our birth rate last year is 1.14.
    Today we are a major financial centre, air hub, having one of the busiest ports, and pharmaceutical, petrochemical and many many more economic pillars… These create different types of jobs & opportunities for Singaporeans. Because of our size, we don’t have any economic buffer other than our port.
    So we need to have an appropriate population size to build many economic pillars to sustain our economy and bring in diverse kind of jobs for Singaporeans.Like today oil and gas sector not doing well but it does not affect us badly because we have other economic pillars to support.
    Imagine if today we are without the approximately 2 over million foreigners to help us. Many businesses won’t be here, many good jobs won’t be here, because there are not enough workers to support the industries.
    Even our status as a financial centre will disappear. And many opportunities will be lost.
    Worse still, with our birth rate of 1.14, it is a only a matter of time that we will be in serious decline and disappear.
    Who will suffer? The younger generation.

    Singapore is man-made.
    Jobs need to be created. Opportunities need to be created. They don’t come naturally.
    Imagine if today Singapore fails. There won’t be jobs for us. Where are we going to find jobs?
    In the neighbouring countries?
    Are there jobs for us there? Can we make this kind of income we are making now?

    Only an irresponsible government will do nothing and let Singapore decline and let Singaporeans suffer.

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  • oxygen:

    @ S’pore need economic pillars:

    WRONG SIMPLISTIC CALCULUS there. If economy is just simply shoring up collapsing pillars of (building) structure with rotten wood,we be booming now with foreign influx flooding in.

    What we need is NEW DOMESTIC ECONOMIC PILLARS constructed at least 15 years ago.

    WE SIMPLY SLEPT THROUGH AND IN AWAKING MOMENT THOROUGHLY CONSUMMATED WITH FIXING DISSENTING VOICES.

    Now the battlefield is losing everywhere, disoriented and clueless of escape route and the way forward.

    WE MUST CHANGE DIRECTION NOW OR VANGUISH.

    S’pore need economic pillars: The number of Singapore citizens is around 3.5 million.
    1 million are boomers, those born in 1946 to 1964 & Pioneer Generation is about 4 hundred over thousand people.
    Those baby boomers who are born in 1946 are already 73 years old, and majority of them have already retired.
    Our birth rate last year is 1.14.
    Today we are a major financial centre, air hub, having one of the busiest ports, and pharmaceutical, petrochemical and many many more economic pillars… These create different types of jobs & opportunities for Singaporeans. Because of our size, we don’t have any economic buffer other than our port.
    So we need to have an appropriate population size to build many economic pillars to sustain our economy and bring in diverse kind of jobs for Singaporeans.Like today oil and gas sector not doing well but it does not affect us badly because we have other economic pillars to support.
    Imagine if today we are without the approximately 2 over million foreigners to help us. Many businesses won’t be here, many good jobs won’t be here, because there are not enough workers to support the industries.
    Even our status as a financial centre will disappear. And many opportunities will be lost.
    Worse still, with our birth rate of 1.14, it is a only a matter of time that we will be in serious decline and disappear.
    Who will suffer? The younger generation.

    Singapore is man-made.
    Jobs need to be created. Opportunities need to be created. They don’t come naturally.
    Imagine if today Singapore fails. There won’t be jobs for us. Where are we going to find jobs?
    In the neighbouring countries?
    Are there jobs for us there? Can we make this kind of income we are making now?

    Only an irresponsible government will do nothing and let Singapore decline and let Singaporeans suffer.

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  • Financially Speaking:

    @ mike:
    For every 7 clueless S’poreans (equivalent to the 70% voting core) & the other 3 guys who are also clueless diehard opposition voters in S’pore, there will be only 1 guy who has travelled the length & breath of the world & have the insights & vision to see very far.

    Usually, he or she would have already migrated to a Western Economy but retained the red passport for convenience.

    It comes with an overseas education, work experience in MNCs & foreign companies, stints in various industries & service sector especially in Finance & Investments. Very few people fits that category!

    You need to go to China to see before you comment on the cashless mechanism using a S’porean’s perspective to comment.

    China’s cashless system rides on the back of their Smartphone domination & the myriad of Chinese Apps that cover much of China. For S’pore, we’re not even there yet! Which is why China are dominating Mobile 5G & possibly 6G when it emerges.

    In contrast, look at the US who are facing a fading world hegemony over the globe, inciting warfare & assassinations against enemy countries. The consequence will be the increasingly rejection of the US$ as the World’s Reserve Currency for something else altogether eg. Gold-backed settlement funds, Cryptocurrencies, etc. Bear in mind that the SG$ is but a proxy for the US$.

    China’s BRI & International Infrastructural Spending is giving China a total business franchise ownership over the developing world. When the full picture emerges, who would be the “sucker”?

    mike:
    Just one thing, why plenty of you are so envy about cashless system?

    Since 2005, whatever the SG gov tries to promote or encourage are leading to more miseries. I failed to understand why peasants are so happy with CASHLESS SOCIETY / SYSTEM?

    And why anyone with right mind are so HAPPY & ENVY of systems loved and promoted by CCP?

    You REALLY THINK CASHLESS IS FOR YOU?
    You REALLY THINK 5/6G IS FOR YOU?
    You REALLY THINK STOPING USAGE OF STRAW IS FOR YOU?
    You REALLY THINK LESS SUGAR IS FOR YOU?

    Tell me, why it is REALLY for ME? And WHY you THINK you are so PROUD OF IT if you have it? Suckers.

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  • replacement rate is at 2.1:

    //Worse still, with our birth rate of 1.14, it is a only a matter of time that we will be in serious decline and disappear.//

    replacement rate is at 2.1 ? going by logics, the population should be maintained at roughly the same level (replacement rate right) or slightly lower (reference to the best of time) all throughout , not increase at such white idiotic open-leg manner ? and it is felt that the best period of sinkie land is between 1990 till 2010 (golden age for sinkie land ?) ?

    https://en.wikipedia.org/wiki/Demographics_of_Singapore

    QUOTE :-

    Total population Singapore citizens
    1950 1,022.10 na
    1955 1,305.50 na
    1960 1,646.40 na
    1965 1,886.90 na
    1970 2,074.50 1,874.80
    1975 2,262.60 na
    1980 2,413.90 2,194.30
    1985 2,736 na
    1990 3,047.10 2,623.70
    1995 3,524.50 2,823.70
    2000 4,027.90 2,985.90
    2005 4,265.80 3,081
    2010 5,076.70 3,230.70
    2015 5,535.00 3,375.00
    2018 5,638.70 3,471.90 UNQUOTE : -

    //These create different types of jobs & opportunities for Singaporeans. Because of our size, we don’t have any economic buffer other than our port.//

    this is only true if it happens in reality lar with a net gain of good living wage jobs (after open-leg policy) for sinkies lar (not those naturalised and also labelled as sinkies) ???? and a lot of traditional jobs are going to go away because of technologies & AI, hence no need for big population ?

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  • 2 over million:

    //Imagine if today we are without the approximately 2 over million foreigners to help us. Many businesses won’t be here, many good jobs won’t be here, because there are not enough workers to support the industries.//

    so many industries and so many chat-ba-lang workers (with chat-ba-lang standard and ways of lives) here for what lar (if it is at the expense of jobs for daft sinkies) ? till loss in the sphere of control until service / product standard is compromised because of high cost pressure & need to shift to technology & ultimately still need to be relocated ?

    quote : While Singapore has not experienced a decline in the share of permanent employment, workers may see a gradual shift away from the traditional model of lifetime employment. In future, we expect more transitions in and out of employment and learning during adulthood. Workers may move between different jobs, work arrangements, and even careers, punctuated by periods of unemployment or training (see Figure 1) : unquote

    https://www.csc.gov.sg/articles/trends-and-shifts-in-employment-singapore-s-workforce

    from garment website lar ? in short, not a-so-good-thing to expect in the future lar ?

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  • 5g ?:

    I learn from some prcs video demonstrating on 5g and also South korea demonstration as well. Its almost real time with the most 1 second lag.

    But Sg local demonstrate in news one. Not impressive as if slower. Their country or cities so big . And yet our so small . Should be faster.

    Throttling ?

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  • 70% clueless:

    @ China’s cashless system rides on the back of their Smartphone domination & the myriad of Chinese Apps that cover much of China.

    Since u have see China.
    Perhaps u can educate 70% sg dumbos on the chinese apps that cover much of China. Give them full punch and waken them .List 10 at least.

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  • Financially Speaking:

    @ 70% clueless:
    I don’t believe in spoonfeeding. And life isn’t a 10 years series question & answer script. You have to fend for yourself to get to where you want to go.

    China is so big – you can only scratch the surface yet still can’t comprehend the vastness & the potential of China. Many who lived & worked in China for many years can’t even tapped their fullest potential yet as the Chinese economy continues to evolve.

    China’s Infrastructure investments came up in 20 year’s time all funded by their Central govt. Whereas in S’pore, we, the taxpayers, are footing the bill for S’pore’s Infrastructural Spending through a high cost of living eco-system & a crony capitalist economy.

    This is the “S’pore Premium” that everyone who lives in S’pore have to pay to the S’pore govt.

    China’s cashless system came up around 2010/2011 & the S’pore govt is desperately trying hard to emulate after identifying it in 2017 – a good 7 years after China’s own implementation & rollout across China.

    This is a clear example of S’pore’s State-directed Investments machinery which are “too slow, too cautious” in identification & in implementation.

    And yet S’pore politicians are paid millions with performance bonuses to boot.

    Even if I list 10 examples, what good will it do if people’s mind remained closed thinking that the S’pore govt is the greatest, that what the opposition can do for them & still continue to vote for the Status Quo. Let them suffer first!

    70% clueless:
    Since u have see China.
    Perhaps u can educate 70% sg dumbos on the chinese apps that cover much of China. Give them full punch and waken them .List 10 at least.

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  • good in directing:

    //China’s cashless system came up around 2010/2011 & the S’pore govt is desperately trying hard to emulate after identifying it in 2017 – a good 7 years after China’s own implementation & rollout across China.//

    sinkie land tok big big about adoption of cashless but so many cashless platforms (plus those from eatery / shopping outlets / tpt / etc, etc each wanting to have their own cut) ????

    CN is so big with billions and billions of people and yet it is able to standardize to a popular few main platforms adopted by many ?

    in CN, even SMALL TIME street vendors have QR code for you to pay ?

    https://www.asiaspeakers.org/blog/alipay-vs-wechat-pay-mobile-payment-giants-driving-china’s-cashless-transformation

    //And yet S’pore politicians are paid millions with performance bonuses to boot.//

    sinkie land is not serious lar ? the white idiots are good in directing “plenty of $$$” just to market loudly (a lot of slick, showy and glitzy advertisements) and good money in projects (Pee-I-See) which can get abused quite easily ?

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  • Kong tua kang wei:

    If what u surmise about what China will happen, eventually it will realized . People will see. No need to fight or debate or screw others that hold opposing views or over whatever expectations.

    Just like that someone China snapping up all the durians, China paying premium for the durians, Singaporeans no durians to eat will surrender. What a joker!

    Yesterday afternoon …

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  • Kong tua kang wei:

    … I was getting ready to attend medical appt at TTSH. I heard someone knocking on my neighbor s door. Initially taught his friend/relative visiting since near CNY. Turns out a Malaysian guy selling durians door to door. He was rejected and as i was locking my front getting ready to depart. He quickly come over and so his sales thing. Basically “begging”. Not interested i decline and walk away. He continue to the next unit. By the time, i walked across the next hdb block and turn, look back at 5th floir. The malaysian guy already at 4th floor continuing his work.

    Nabay, where China snapping all the durians or No durians singaporeans surrender ? Please dont anyhow kong tua kang wei !

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  • Bad Boy:

    What? China take care of retirees?

    https://xw.qq.com/cmsid/20200113A0PYPU00?f=newdc
    那个43斤的女大学生去世了:曾为救弟省钱 连吃5年辣椒拌饭

    大佬 , if people cannot donate $$$, donate food 都得掛.

    西宁市通报路面坍塌事故:找到6具遇难者遗体
    https://news.sina.cn/2020-01-14/detail-iihnzahk3985329.d.html

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  • Sojoürner of Truth:

    The point of currency is to have a unit of transaction that keeps value and is universal. Fragmenting what can be used as payments only adds additional middlemen who inevitably take out fees for their “service”.

    The big question to me is how long it will take crooks to crack these systems? The question is not if they will – it’s when will they find a weak point they can exploit, how much damage they will do, and how we can protect ourselves.

    Yes, let’s have more pointless layers in an otherwise simple process of giving someone a bunch of paper to receive an item. That’s not a revolution; it’s marketing speak masquerading as innovation, and it bespeaks of the bankruptcy of intelligence if this is what passes for deep thought. If technology like this is ever really going to achieve widespread adoption, the providers will need to overcome the security barrier.

    It’s all business propaganda attempting to sway consumer opinion. About the only one I can see who might actually consider this as being a potential second coming is the hacker community. Because despite what all the hype might have you think there is no such thing as a truly secure digital wallet. And trust me on this; the global hacker community, those within it of a certain ilk, are slavering at the idea of getting such easy access to YOUR wallet.

    An old Roman term is relevant in this regard. Caveat emptor!

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  • TruBlu:

    Oh guess we urgently need ANTI-BIOTICS to fight the social germ$ rather than mere steroids?

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  • mike:

    So funny one…

    You are saying all these when 2019 there are approx. 1.5 developers in CN going bankrupt everyday. Bank give pork away free to get deposits. And one need meat ticket to buy pork. 5G and cashless can eat?

    How many real MNC today in this world today? You tell me lah. So funny one.

    You trying to tell me CN is very global har? So funny one leh… so far i can only see CN pple ownself play with ownself lah. CN pple mostly play economy among themselves… so funny one. Some of my CN friend want to give me Ang Bao on my birthday but “I GOT NO CN ACCOUNT!” hahaha… they can’t give me cash! What do you think my dear bro.? I kena several scam by CN scammers but when they know i don’t have CN account, they went disappear instantly. No need waste time. Truly global hor?

    10 years ago i get 银联 thinking it can play globally and perhaps gives me convenient to use in CN. Then i realized i cannot use 银联 in CN even to buy in normal shops and i need to use master or visa. So funny one, today i don’t even need it. Just cut it.

    Plenty money goes into CN in past 20years cannot (heaps of problem) take out of CN. So funny one.

    You don’t seems to understand my message. So sorry, but good for you!

    Yes 5g is fast, and you think is meant for you watching movies so that you can download pirated movies in lightning speed? Or cashless is good so that robber cannot rob you at knife point and you will not be cheated with canon laserjet printed ¥100?

    Sorry if i sound rude, SG and CN have a lot in common.
    CN’s own inferiority complex is driving its power craves to be smarter with ideas to control and dominate globally.
    SG is more capitalist and also driven by power craves once every 5 years, but domestically. Luckily we only have 1% of smartie came from MNC, so funny.

    Now one question for you, Rich CN folks save their $$$ where? And we know cashless is for who.

    Financially Speaking:
    In contrast, look at the US who are facing a fading world hegemony over the globe, inciting warfare & assassinations against enemy countries. The consequence will be the increasingly rejection of the US$ as the World’s Reserve Currency for something else altogether eg. Gold-backed settlement funds, Cryptocurrencies, etc. Bear in mind that the SG$ is but a proxy for the US$.

    China’s BRI & International Infrastructural Spending is giving China a total business franchise ownership over the developing world. When the full picture emerges, who would be the “sucker”?

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  • Financially Speaking:

    @ mike:
    Dunno what are you writing about? You lost me!

    Like someone said, S’pore is a Potemkin Village.

    Another said, “S’pore has no natural resources invent/make/produce/export nothing. Import almost everything including the food/water and cheap labour. Depends on the seaport, money laundering as a financial hub which will and can be overtaken by neighbouring emerging economy countries.”

    The 3rd & most brilliant rebuttal was, “What we need is NEW DOMESTIC ECONOMIC PILLARS constructed at least 15 years ago.

    WE SIMPLY SLEPT THROUGH AND IN AWAKING MOMENT THOROUGHLY CONSUMMATED WITH FIXING DISSENTING VOICES.

    Now the battlefield is losing everywhere, disoriented and clueless of escape route and the way forward.”

    Today, the amount of Indebtedness (from Infrastructural Spending) & from Malinvestments (Temasek & GLCs) in S’pore are absolutely staggering. Jewel @ Changi is already a White Elephant.
    https://www.theonlinecitizen.com/2020/01/13/retail-outlets-at-jewel-changi-airport-performing-poorly-despite-large-volume-of-visitors/

    CN & SG are simply not the same. Even the size are incomparable. CN has a huge Hinterland whereas SG is trapped within limited geographical limits. SG’s lack of a Hinterland is S’pore’s obvious achilles heel.

    When You talk about rich CN folks & their $$$ but where is SG $$$ paid to the politicians? Why don’t you ask yourself this question first before tackling something beyond your own comprehension?

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  • S’pore need pillars:

    @bapak
    Ideally if implemented correctly, but why so many Singaporeans are jobless? Isn’t it the government responsibility to address this VERY BIG problem? Instead we treated like child asking for sweets & refused with the job data. What are they hiding?
    You seems like a bright chap and knowing a lot, do tell us the whole truth.
    ///////////////////////////////////////////////
    Unemployment is a VERY BIG problem?
    But is only 3% you call that a big problem.
    https://www.channelnewsasia.com/news/business/unemployment-labour-report-mom-singapore-jobless-rate-3q-2019-12178236

    No jobs data?

    https://www.straitstimes.com/politics/total-employment-in-23-key-industries-up-19500-from-2015-to-2018

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  • S’pore need pillars:

    @Sojoürner of Truth:
    Based on your statistics, 1.4 million Singaporeans are already economically ‘inactive’ leaving another 2 millions Singaporeans vying for jobs against 2 million foreigners. Which country in the world matches 50-50, local citizens versus foreigners?? Give me an example and I will rest my case.
    /////////////////////////

    Remember our birth rate is 1.14 last year.
    Imagine just ask the 2 million foreigners to leave.Many business will have to close shop disappear.
    And by then bus driver have to be Singaporeans,road sweeper have to be Singaporeans construction workers all jobs are Singaporeans workers.
    Is this better for Singaporeans?

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  • Sojoürner of Truth:

    S’pore need pillars: Remember our birth rate is 1.14 last year.
    Imagine just ask the 2 million foreigners to leave.Many business will have to close shop disappear.
    And by then bus driver have to be Singaporeans,road sweeper have to be Singaporeans construction workers all jobs are Singaporeans workers.
    Is this better for Singaporeans?

    Precisely that’s what I am harping about. Labelling migrant workers as ‘foreign talent’ is a gross misnomer by the Govt. to dupe unwitting Singaporeans. Get rid of the so-called 1 million ‘migrant workers’ or what the Govt. called foreign talents and leave the real migrant workers to take up the bus driving and road sweeping jobs. The 1 million vacant jobs then goes back to the real Singaporeans. How about it?

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  • Financially Speaking:

    If S’pore’s Govt Statistics were so believable, why there are govt salary subsidies for low paid S’porean workers?

    Plus why is Minister Josephine Teo only now coming up with legislation to force employers to engage S’poreans first before employing foreigners – a good 9 years after 2011GE when they lost a GRC due to the foreigner issue.

    Talk on the ground points to further losses in this coming election as more political opposition take up the CECA issues & local unemployment. Pritam Singh just made Chan Chun Sing go on the defensive during his line of questioning. A lot of Million Dollar Ministers are at risk of losing their honey pot in the next election just like George Yeo & Lim Hwee Hua in 2011GE.

    Your narrative reeks of lies, dishonesty & frankly, a hidden agenda to cover up festering issues when the obvious is so clear. You are an idiot!

    S’pore need pillars: Unemployment is a VERY BIG problem?
    But is only 3% you call that a big problem.

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  • Financially Speaking:

    @ S’pore need pillars:
    Economics-wise, S’pore businesses will not close shop. You are fear mongering without substance. Your line of reasoning as naked as you – an absence of living abroad & an ability to see, reason rationally.

    Mentally, you just a 5-year old unable to feed yourself or tie your shoelaces.

    If wage levels go up, S’poreans would be willing to take up jobs in construction & estate conservancy. Simple economic reasoning!

    Besides, there won’t be much time before automation & robots takes over those tasks. Autonomous driving will take over bus driving; robots will do the street cleaning while construction robots do the basic construction work like putting together precast panels, etc.

    The cost of software & robotic, automation hardware spiralling downwards extremely fast. Nowadays they even have a cleaning contraption to clean vertical windows in high rises. Again, this proves that you are not in touch with the modern world!

    S’pore need pillars: Remember our birth rate is 1.14 last year.
    Imagine just ask the 2 million foreigners to leave.Many business will have to close shop disappear.
    And by then bus driver have to be Singaporeans,road sweeper have to be Singaporeans construction workers all jobs are Singaporeans workers.
    Is this better for Singaporeans?

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  • Financially Speaking:

    @ S’pore need pillars:
    Isn’t this so obvious, the army of domestic workers in S’pore doing menial tasks for S’porean families. We should get rid of them!

    Higher wages & household incomes would allow women to take time away from working to bring up children & wean off S’pore’s heavy reliance on foreign domestic maids. TFR might even go up as a result. Engaging maid are a financial burden for households.

    S’pore is obviously trapped by their own hubris, senseless mechanism & silly policies. No one is brave enough to break through the conundrum which is holding back S’pore.

    How smart are you when the obvious is right in front of you, yet many continue to twiddle & tweak the system without addressing the fundamentals. Meritocracy has failed S’pore!

    Financially Speaking: Mentally, you just a 5-year old unable to feed yourself or tie your shoelaces.

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  • mike:

    Financially Speaking:
    WE SIMPLY SLEPT THROUGH AND IN AWAKING MOMENT THOROUGHLY CONSUMMATED WITH FIXING DISSENTING VOICES.

    Now the battlefield is losing everywhere, disoriented and clueless of escape route and the way forward.”

    Today, the amount of Indebtedness (from Infrastructural Spending) & from Malinvestments (Temasek & GLCs) in S’pore are absolutely staggering. Jewel @ Changi is already a White Elephant.

    @ Financially Speaking

    Given the fact that your perspective comes from a different fixed angle, not much time and space we have in this tiny space, i would not be surprised that you had lost me. But that is alright, there are still things which i can agree with you above.

    Last Christmas we landed in Changi, the plane taxi-ing the longest time i can remember and when we exit the clearance, walah, so MANY PEOPLE! Fake crowd I say. Most human traffic purposely directed towards Jewel. This is how management works today. Underneath the carpark, as far as B5, we can play football in echo.

    So, enough of the screwed up management team, we cannot expect things to change when nothing else changes. In another words, we cannot shit durian without eating durian.

    Financially Speaking:
    CN & SG are simply not the same. Even the size are incomparable. CN has a huge Hinterland whereas SG is trapped within limited geographical limits. SG’s lack of a Hinterland is S’pore’s obvious achilles heel.

    When You talk about rich CN folks & their $$$ but where is SG $$$ paid to the politicians? Why don’t you ask yourself this question first before tackling something beyond your own comprehension?

    I would agree to disagree with you. If we measures physical size and the tangible, how can both ever be the same? We are the same in terms of the unlearning pea-size brain we have in running something imaginatively larger. We are the same in DNA and thinking, running our daily life (and other lives) manipulating the feet to fit the shoes.

    If you can answer the question, just try to answer, if cannot, just skip, i will not be marking your papers. There are no truly right or wrong answers in my questions and it will not make you any better person answering them correctly. So need not ask me the question i asked you. Don’t behave like a spoilt kids like those we have in our pariahment.

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  • Birds Of Same Feather:

    Some talk at length about China’s “advantage” giving the example of cashless society.

    Little do they realize it’s two of the “same system” in action, while overlooking some subtle differences. Taking the cashless as example, the real benefit, especially to an autocratic state, is the ability to monitor and control financial exchanges. What they can do with such control is anybody’s guess, can be good but usually bad.

    The Chinese official have been coming to Sillypore since 1980s to learn about “social capitalism”, how to make money with autocratic rule, with a state driven economy. The visible advantage is that the growth trajectory will be much faster than one that developed intrinsically. Some of the greatest banes, just to name a few, are the prone to kleptocracy and lack of robustness in overall development as resources are channelled to certain sectors.

    China’s social security and healthcare is now a ticking time bomb, just because the CCP modelled them from Sillypore. The healthcare cost has escalated beyond the reach of many. The propaganda slogan on healthcare in China is surprisingly similar to that of Sillypore. Netizens here have mentioned that before.

    Little do you know, looking beyond the surface and the prolification of misinformation to mask certain truths, the state of economy in China under CCP is collapsing.

    Get news from the right places.

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  • oxygen:

    @ Financially Speaking

    A BRILLIANT SMACK on the face of @ Spore needs pillars – where it deserves so badly.

    Financially Speaking: If S’pore’s Govt Statistics were so believable, why there are govt salary subsidies for low paid S’porean workers?

    Plus why is Minister Josephine Teo only now coming up with legislation to force employers to engage S’poreans first before employing foreigners – a good 9 years after 2011GE when they lost a GRC due to the foreigner issue.

    Talk on the ground points to further losses in this coming election as more political opposition take up the CECA issues & local unemployment. Pritam Singh just made Chan Chun Sing go on the defensive during his line of questioning. A lot of Million Dollar Ministers are at risk of losing their honey pot in the next election just like George Yeo & Lim Hwee Hua in 2011GE.

    Your narrative reeks of lies, dishonesty & frankly, a hidden agenda to cover up festering issues when the obvious is so clear. You are an idiot!

    It is SHAMELESS INDIGNITY to have uttered such fake profundities

    S’pore need pillars: Unemployment is a VERY BIG problem?
    But is only 3% you call that a big problem.

    Unemployment statistics in LEE-jiapore is nothing short of farting the abysmal edge of lies which officialdom is shy of its quantification definition of what is really Singkies unemployment/retrenchment and what is SINKIES+PR conned as “local” gross perversion of truth and reality.

    ONE CAN FIND THE SAME “INTEGRITY” OF SUCH VILE STATISTICS UNDERNEATH THE BELLY OF A COBRA SN*KE.

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  • TheLKY's China:

    How CCP learned from the greedy evil pigs can be seen clearly from the evolution of their state propaganda slogans on old age support.

    1985年,“计划生育好 政府来养老”;
    1995年,“计划生育好 政府帮养老”,
    2005年,“养老不能靠政府”,
    2012年,“推迟退休好 自己来养老”,
    2015年,“养儿为防老 子女要尽孝 甩给政府管 真是脸不要”。

    In 1985, “family planning is good, the government will take care of your old age support”;
    in 1995, “family planning is good, the government will help in your old age support”;
    in 2005, “cannot just depend your old age support on government”;
    in 2012, “defer your retirement, support your own old age”;
    in 2015, “Children is a guard against old age support, children must be filial, it’s shameful to leave it to government”

    CCP is an evil regime, it is Lenninism that originated from an evil cult; it is a dictatorship. It is not a democratically elected government. It does not represent the Chinese people or culture, in fact, it suppresses the people, it is a destroyer of religions, a destroyer of Chinese culture. CCP is not China, as in some dynasty, it will come and go in no time.

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  • John Maynard Keynes says:

    “The difficulty lies not so much in developing new ideas as in escaping from old ones (of the crony Narcissist kind).”

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  • Remember last GE lesson:

    @@@ ” Talk on the ground points to further losses in this coming election as more political opposition take up the CECA issues & local unemployment. Pritam Singh just made Chan Chun Sing go on the defensive during his line of questioning. A lot of Million Dollar Ministers are at risk of losing their honey pot in the next election just like George Yeo & Lim Hwee Hua in 2011GE. ”

    I dont want to splash cold water but remember last GE lesson. Talk is talk , … Until the last second also dont lost the focus.

    Last GE lesson, so many spectacles dropped. When result revealed, all here are left shock with their mouth wide. Then curse and swear followed in this site or others.

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  • S’pore need pillars:

    @fincially speaking
    Financially Speaking:
    January 15, 2020 at 4:53 am (Quote)
    If S’pore’s Govt Statistics were so believable, why there are govt salary subsidies for low paid S’porean workers?
    Plus why is Minister Josephine Teo only now coming up with legislation to force employers to engage S’poreans first before employing foreigners – a good 9 years after 2011GE when they lost a GRC due to the foreigner issue.
    Talk on the ground points to further losses in this coming election as more political opposition take up the CECA issues & local unemployment. Pritam Singh just made Chan Chun Sing go on the defensive during his line of questioning. A lot of Million Dollar Ministers are at risk of losing their honey pot in the next election just like George Yeo & Lim Hwee Hua in 2011GE.
    Your narrative reeks of lies, dishonesty & frankly, a hidden agenda to cover up festering issues when the obvious is so clear. You are an idiot!
    ///////////////////////////////////////
    A Government cannot believe??
    A system that build Singapore from poverty to proprietary.
    A system that delivered food,warmth and shelter for Singaporeans.
    A system that Singaporeans keeps endorsing for the last half a century.
    A system that investors poured in billions to create jobs for Singaporeans and our wealth management is in trillions.
    https://www.straitstimes.com/business/banking/singapores-asset-management-industry-grew-at-slower-54-pace-to-34-trillion-last
    A system that made Singapore one of the richest countries in the world.

    https://www.google.com.sg/amp/s/amp.usatoday.com/amp/39630693
    And many many more……

    A system that delivered cannot believe then who to believe??

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  • Robin:

    This is a kleptocracy. It steals from the people, both openly and sneakily.

    It steals your CPF by refusing to return it at age 55.

    It steals your money by increasing water, electricity, parking fees without proper justification.

    It keeps stealing and stealing.

    Kick out this kleptomaniac regime which have all gone on to be very wealthy.

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  • Poor si gui kia we all....:

    Hahaha oh Robin…. we little survivor birds under the hungry eyes of slick predators and vultures… they living in sky-high cliffs of opulence.

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  • Sojoürner of Truth:

    It is about time that someone decided to look deeper into the real economy.

    Other statistics that should be looked into are the type of jobs being created. Are they Part time, seasonal or full time.
    What industries are creating the jobs. What is the average wage for each industry.
    Also cost of gas, food, utilities and rent or mortgage payments.

    These are the statistics that give everyone a real life view of the economy.

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  • Why LHY/LWL alledge?:

    Singaporeans should remember how late LKY in his iconic rageous look said that he will rise from dead should anyone mesh up his image which he had with considerable behind the opaque screen effort bulit up! Just when citizens including lao Lee’s supporters were kpkb abt their cpf n losing their job ps to Indians wh r allowed to come in as if Singapore is their colony n the billions his d**honourable son has spent to educate the aliens at the expense of Singaporeans to the ludicrous extreme extent of withhoding their results just becos they pdidn’t pay the fees, lao Lee youger son LHY n his daughter LWL came forward n exposes the new pap regime is operatig with compliant bureaucrats or in singlish harem of spineless ingrate incompetent polanpas, inadequate becos they will not make it in their lives without bootlicking (lky’s adored queen’s english), brownnosing (American yanky damnation of a$$e kissers) n polanpa (singlish lfocallingr people who kneel cos soft spines to lick for their gold) n harbouring dynasty ambition. As geomacists have it, lao lee n wife arose from dead via their dead to deal with what his d**honourable son n his accomplists r raping Singapore in cahoots with the foreign trashes. This wasn’t contested in a Court of Laws as lao lee, peanut seat warmer n his dns pledged in concert that if any allegation is not challenged in a Court of Laws, the allegations r true n the sccused should faced legal consequences. Lao Lee cannot be seen as a man eating his own words n cannot tolerate anyone bringing such humiliation on him including GCT the bless scum which he knew n took adv to get his dhs succeeding him! This is the first warning n as Sporeans well remember what lao lee said abt his adversaries. With his iconic murderous countenance, he vowed he will crush n destroy them relentlessly akin to a open combat in a cul de sac! Isn’t that why the dhs dare not bankrupt his sibling in asn open Court of Laws Not forgetting Compliant Bureacracy?
    It looks like the new regime is bent on destroying SPORE with the assistance of aliens. j Teo said it openly by capping her new employment punitive measures at $15000 n not for all salary range including that for ceo! This is self admission of the trait** ous policy of the new regime aiming to enslave SPOREANS with the imported alien trashes. lKY daft supporters should help lao Lee to rid DHS n the new regimes. Mahathir brought down UMNO n manage to find in his horror Najib has virtually bankrupt the Nation making helpless even to restrain the onslaught of PRC OROB economic pressure but has to bow to negotiate! If Sporeans remained bullied, sooner not only their jobs r gone but their children no univ ed n soon be imported aliens’ slaves! WAKE UP SINGAPOREANS! RID PAP. INVESTIGATE N RECOVER CPF N…

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  • Financially Speaking:

    @ Remember last GE lesson:
    2015GE was an aberration. Voting favoured PAP after LKY’s death. It was an emotional outpouring of sentimental votes as well as an outlier result due to the Pioneer Generation Grants & benefits.

    But the overall trend are still down for the PAP. People are starting to see that the PAP are not working for them.
    <blockquote cite="comment-1875335
    Remember last GE lesson:

    I dont want to splash cold water but remember last GE lesson. Talk is talk , … Until the last second also dont lost the focus.

    Last GE lesson, so many spectacles dropped. When result revealed, all here are left shock with their mouth wide. Then curse and swear followed in this site or others.

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  • S’pore need pillars:

    @Financially Speaking:
    If S’pore’s Govt Statistics were so believable, why there are govt salary subsidies for low paid S’porean workers?
    Plus why is Minister Josephine Teo only now coming up with legislation to force employers to engage S’poreans first before employing foreigners – a good 9 years after 2011GE when they lost a GRC due to the foreigner issue.
    Talk on the ground points to further losses in this coming election as more political opposition take up the CECA issues & local unemployment. Pritam Singh just made Chan Chun Sing go on the defensive during his line of questioning. A lot of Million Dollar Ministers are at risk of losing their honey pot in the next election just like George Yeo & Lim Hwee Hua in 2011GE.
    Your narrative reeks of lies, dishonesty & frankly, a hidden agenda to cover up festering issues when the obvious is so clear. You are an idiot!
    /////////////////////////////////

    A Government cannot believe??
    A system that build Singapore from poverty to proprietary.
    A system that delivered food,warmth and shelter for Singaporeans.
    A system that Singaporeans keeps endorsing for the last half a century.
    A system that investors poured in billions to create jobs for Singaporeans and our wealth management is in trillions.
    https://www.straitstimes.com/business/banking/singapores-asset-management-industry-grew-at-slower-54-pace-to-34-trillion-last
    A system that made Singapore one of the richest countries in the world.

    https://www.google.com.sg/amp/s/amp.usatoday.com/amp/39630693
    And many many more……

    A system that delivered cannot believe then who to believe??

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  • Remember last GE lesson:

    Honestly i hoped you are correct.

    From opps perspective you can say that. Is this the real reason nobody can 100% confirmed ?

    To me thats excuses.

    From the other perspective, u have to acknowledge their strategy in the end worked. No one here expect it except one guy …. was it PAP guarantee win ?

    Just like Taiwan election, before this some earlier election Tsai lost to Han and KMT. My pro China neighbour so happy during coffee session. So confident that Tsai and her party will eventually lost in the latest one. I tell him difficult to say. He brush me off with all kind of reasoning. Every neighbour he met also tell or sell the same story. Today spelled otherwise, but he passed away one month ago before the result came out a few days ago. Perhaps a consolation in disguise not knowing his prediction failed to realize. No disappointment, no tulan or no embarrassment if we remind him you missed the mark.

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  • Sojoürner of Truth:

    S’pore need economic pillars: Singapore is man-made.
    Jobs need to be created. Opportunities need to be created. They don’t come naturally.
    Imagine if today Singapore fails. There won’t be jobs for us. Where are we going to find jobs?
    In the neighbouring countries?
    Are there jobs for us there? Can we make this kind of income we are making now?

    @S’pore need economic pillars:

    Never assume that people who are in charge know what they are doing just because they are in charge. Because it was done without a clear strategic or moral framework.

    Another source of general slow growth is probably that many customers, the 80% in the lower four quintiles, have not been getting increased spending money allowing them to be more free-spending consumers. Without much more consumer spending, there’s little incentive to expand productive capacity and potential employment.

    Locally, what I’m seeing is genius entrepreneurial activity consisting of opening one more chain restaurant that generally results in another restaurant closing. It looks to me like the FB business is saturated, but you can count on investors to put their money into one more of them. The jobs created, of course, fall into the cash-strapped bottom quintile for the most part.

    At low unemployment productivity must drive growth. Productivity in turn is a function of business investment. Business investment is a function of business liquidity–which has been very high in recent years and is only going to get higher with the pro Corporation, pro rich and anti-poor tax reform (GST). But liquidity is not enough. There must be commercial opportunities–latent demand–to bring about business investment in new and expanded goods and services.

    That despite high liquidity growth has not surged in recent years is evidence that liquidity is not enough. And the increasing impoverishment of the middle and lower classes which will be exacerbated by the GST tax will curtail demand, the marginal propensity to consumer of less wealthy being much higher than of the wealthy. So how will all of this liquidity be put to use? It will be invested abroad (SWF)and used to do buy back stocks and pay dividends to the wealthy making them even wealthier. This is a bubble economy. It cannot persist and will not persist. Exacerbated by low Government revenue and declining public investment and services will result in economic slowing and collapse.

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  • Financially Speaking:

    @ Sojoürner of Truth:
    Pritam Singh vs Chan Chun Sing & his 4G cohorts (supporting him) in Parliament already points to a huge reluctance of S’pore govt to divulge manpower statistics & their breakdown of nationality of workforce.

    Perhaps the revelation of such could be politically suicidal. But how can any govt continue on such non-transparent pathways? The last, Communist Govts who fudged economic statistics failed economically & spectacularly between late 1980s & 1990s. History & past economic examples are a good guide.

    But there are some of us S’poreans who are exposed to different economies living & working there. In contrast to the 70% stagnant S’poreans who never venture out of their tortoise shell.

    By comparing the differences in cost of living & wage levels, no doubt, there will be huge discrepancies between S’pore economic management & the rest of the world.

    Even a trip beyond the causeway already reveals a lower cost of living in JB compared to S’pore’s terrifying high costs.

    Sojoürner of Truth:
    It is about time that someone decided to look deeper into the real economy.

    Other statistics that should be looked into are the type of jobs being created. Are they Part time, seasonal or full time.
    What industries are creating the jobs. What is the average wage for each industry.
    Also cost of gas, food, utilities and rent or mortgage payments.

    These are the statistics that give everyone a real life view of the economy.

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  • Financially Speaking:

    @ S’pore need pillars:
    All those achievements were in the past! I’m looking into the future. And the future is bleak for S’pore!

    Globalisation is dead! Regionalism under a China-led economic order will be the future. S’pore’s wealth are largely illusionary. Much of this wealth are owned by foreign capital providers.

    Our sovereign wealth underpinned by CPF savings & govt reserves accumulated by the last generation of PAP leaders. The lack of transparency of sovereign wealth points to an ominous sign. What if “there’s nothing left?”.

    You believe in a system but is that system sustainable? An increase in GST, water & electricity increases, etc points to a system in dire need of cash. Why?

    You believe what you want to believe. That is your perogative. After you receive a shock to the system, only then would you wake up?

    S’pore need pillars: A Government cannot believe??
    A system that build Singapore from poverty to proprietary.
    A system that delivered food,warmth and shelter for Singaporeans.
    A system that Singaporeans keeps endorsing for the last half a century.
    A system that investors poured in billions to create jobs for Singaporeans and our wealth management is in trillions.
    https://www.straitstimes.com/business/banking/singapores-asset-management-industry-grew-at-slower-54-pace-to-34-trillion-last
    A system that made Singapore one of the richest countries in the world.

    https://www.google.com.sg/amp/s/amp.usatoday.com/amp/39630693
    And many many more……

    A system that delivered cannot believe then who to believe??

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  • Sojoürner of Truth:

    Financially Speaking: Pritam Singh vs Chan Chun Sing & his 4G cohorts (supporting him) in Parliament already points to a huge reluctance of S’pore govt to divulge manpower statistics & their breakdown of nationality of workforce.

    @ Financially Speaking
    I agree wholeheartedly. The hypocrisy and cynicism is so blatant, it is difficult to tolerate. Clearly there is a lack of transparency, but isn’t this also a convergence of interests? The fact that this alternative universe is represented by the majority in Parliament, means that accountability of the current Govt. is also irrelevant.

    What is sad is that even if there were sudden total transparency and anything else I can think of, 70% of the voters would still vote for themm. This is not a political party; it is a cult.

    The question is begged: “What is it that you don’t want the Singapore people to know about before they cast their votes?”

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  • Financially Speaking:

    @ Sojorner of Truth:
    The consumption scene in S’pore are largely illusionary. It is being driven by the Mall REITs & Business Trust looking to maximise rental yields for their shareholders.

    The retail scene lacks credibility of making “profits” in retailing. The exodus of International Retailers like Sasa et al points to an extremely difficult retail market.

    And the REITs operators seemed to be in cahoots with a selected band of Retail Chain operators providing a “Cookie Cutter” representation of retail outlets in their managed portfolio. This is S’pore’s Crony Capitalism at work!

    The entire game resembles Monopoly Game where Mall REITs Sponsor & their REITs funds trade assets based on Mall valuations & their Mall occupancy rates. There are no fundamentals at work here!

    I laugh at S’pore investors climbing onboard & chasing after Local Mall Reits in 2020 creating Yield Compression especially
    those from CapitaLand, Mapletree & Fraser. The spectre of GST increase & subsequent repressed consumption hasn’t crossed their investing minds yet.

    Sojoürner of Truth: Locally, what I’m seeing is genius entrepreneurial activity consisting of opening one more chain restaurant that generally results in another restaurant closing. It looks to me like the FB business is saturated, but you can count on investors to put their money into one more of them. The jobs created, of course, fall into the cash-strapped bottom quintile for the most part.

    At low unemployment productivity must drive growth. Productivity in turn is a function of business investment. Business investment is a function of business liquidity–which has been very high in recent years and is only going to get higher with the pro Corporation, pro rich and anti-poor tax reform (GST). But liquidity is not enough. There must be commercial opportunities–latent demand–to bring about business investment in new and expanded goods and services.

    That despite high liquidity growth has not surged in recent years is evidence that liquidity is not enough. And the increasing impoverishment of the middle and lower classes which will be exacerbated by the GST tax will curtail demand, the marginal propensity to consumer of less wealthy being much higher than of the wealthy. So how will all of this liquidity be put to use? It will be invested abroad (SWF)and used to do buy back stocks and pay dividends to the wealthy making them even wealthier. This is a bubble economy. It cannot persist and will not persist. Exacerbated by low Government revenue and declining public investment and services will result in economic slowing and collapse…

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  • Financially Speaking:

    @ Remember last GE lesson:
    I never speculate on political elections because of one rule:
    * The Lowest Common Denominator (re: Masses)

    And Elections are based on majority votes. What if the lowest common denominator consists of intellectually deficient voters? The crowd dictates where the crowd wants to go. It is called the herd mentality. Smart people don’t follow crowds!

    Secondly, there are no principles in life. You get on with life by adjusting according to environmental changes. These days, the environment is getting less predictable & more disruptive.

    People with dogmatic beliefs (rigid beliefs) ultimately run aground when their principles run counter to prevailing shifts in attitudes. An open mind beats closed minds anytime. The sad thing is that there are too many closed minds in S’pore!

    Remember last GE lesson:
    Honestly i hoped you are correct.

    From opps perspective you can say that. Is this the real reason nobody can 100% confirmed?

    To me thats excuses.

    From the other perspective, u have to acknowledge their strategy in the end worked. No one here expect it except one guy …. was it PAP guarantee win ?

    Just like Taiwan election, before this some earlier election Tsai lost to Han and KMT. My pro China neighbour so happy during coffee session. So confident that Tsai and her party will eventually lost in the latest one. I tell him difficult to say. He brush me off with all kind of reasoning. Every neighbour he met also tell or sell the same story. Today spelled otherwise, but he passed away one month ago before the result came out a few days ago. Perhaps a consolation in disguise not knowing his prediction failed to realize. No disappointment, no tulan or no embarrassment if we remind him you missed the mark.

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  • Financially Speaking:

    @ Sojorner of Truth:
    The Smart ones already hedged their living circumstances to other economies. They are less dependent on the S’pore govt than the clueless 70%. The only pros for keeping the S’pore identity are the red passport & the SG$. That is all that matters to them!

    Ultimately it’s those 70% & the remaining ones who are chained along with the 70% who suffers from the anti-Indigenous policies enacted in favour of foreigners.

    It’s hard to feel sorry for them! Living in S’pore entails paying a S’pore Premium to the govt.

    Private housing & cars in S’pore eats up a substantial portion of future earnings & destroys the ability to save!

    The world today is full of financialization [monetary expansion] & full of asset bubbles. When it all ends, we’ll see a new world – one that is going to be austere & sustainable. The sad thing is that it will be the end of Western Civilization & the beginning of a new world order in the East. One that demands collective behaviour & social credits to survive. Hopefully by then, I won’t be around!

    Sojoürner of Truth: @ Financially Speaking
    I agree wholeheartedly. The hypocrisy and cynicism is so blatant, it is difficult to tolerate. Clearly there is a lack of transparency, but isn’t this also a convergence of interests? The fact that this alternative universe is represented by the majority in Parliament, means that accountability of the current Govt. is also irrelevant.

    What is sad is that even if there were sudden total transparency and anything else I can think of, 70% of the voters would still vote for themm. This is not a political party; it is a cult.

    The question is begged: “What is it that you don’t want the Singapore people to know about before they cast their votes?”

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  • S’pore need pillars:

    @Sojorner of truth
    Precisely that’s what I am harping about. Labelling migrant workers as ‘foreign talent’ is a gross misnomer by the Govt. to dupe unwitting Singaporeans. Get rid of the so-called 1 million ‘migrant workers’ or what the Govt. called foreign talents and leave the real migrant workers to take up the bus driving and road sweeping jobs. The 1 million vacant jobs then goes back to the real Singaporeans. How about it?
    ////////////////////////////////////

    You are lost.
    Here is the picture.
    Let’s say a company needs 100 workers to operate here and they can only hire 50 Singaporeans while the rest are foreigners.
    Now you ask the foreigners to go back home.
    If the company cannot get locals, the company would have to close shop and the 50 Singaporeans will lose their jobs.

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  • S’pore need pillars:

    @Financially Speaking:
    Economics-wise, S’pore businesses will not close shop. You are fear mongering without substance. Your line of reasoning as naked as you – an absence of living abroad & an ability to see, reason rationally.
    Mentally, you just a 5-year old unable to feed yourself or tie your shoelaces.
    If wage levels go up, S’poreans would be willing to take up jobs in construction & estate conservancy. Simple economic reasoning!
    //////////////////////////////////////////

    You are a prodigy.
    Let’s say we pay a cleaner $5000/ month.
    Cleaners don’t require much education.
    If a cleaner’s pay is as good as an engineer, there will be a lot of people who are not willing to go to school.
    This can happen in big and wealthy countries, not small countries like ours.
    I heard of one incident in a rich country where a lawyer was doing a part-time job as a cleaner.

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  • S’pore need pillars:

    Correction
    If a cleaner’s pay is as good as an engineer, there will be a lot of people who are not willing to go to school and become clearer.

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  • S’pore need pillars:

    @Financially Speaking:
    Isn’t this so obvious, the army of domestic workers in S’pore doing menial tasks for S’porean families. We should get rid of them!
    Higher wages & household incomes would allow women to take time away from working to bring up children & wean off S’pore’s heavy reliance on foreign domestic maids. TFR might even go up as a result. Engaging maid are a financial burden for households.
    S’pore is obviously trapped by their own hubris, senseless mechanism & silly policies. No one is brave enough to break through the conundrum which is holding back S’pore.
    How smart are you when the obvious is right in front of you, yet many continue to twiddle & tweak the system without addressing the fundamentals. Meritocracy has failed S’pore!
    //////////////////////////////////////////

    If a family can afford to have a maid, the family definitely can bring in an income many times more than the maid’s salary .
    Singapore has a shortage of manpower so having maids to help is definitely a good idea.

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  • S’pore need pillars:

    @oxygen:
    WRONG SIMPLISTIC CALCULUS there. If economy is just simply shoring up collapsing pillars of (building) structure with rotten wood,we be booming now with foreign influx flooding in.
    What we need is NEW DOMESTIC ECONOMIC PILLARS constructed at least 15 years ago.
    WE SIMPLY SLEPT THROUGH AND IN AWAKING MOMENT THOROUGHLY CONSUMMATED WITH FIXING DISSENTING VOICES.
    Now the battlefield is losing everywhere, disoriented and clueless of escape route and the way forward.
    WE MUST CHANGE DIRECTION NOW OR VANGUISH.
    /////////////////////////////////////////////

    Is not wait for the pillars to collapse.
    LkY said” Singapore need the most able people to run.”
    We do well the last 50 over years is because we have capable people who know how to keep up grading our pillars.
    That’s why we are successful.

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  • Financially Speaking:

    @ Birds Of Same Feather:
    Your narrative on China glean from Western reporting sources (slanted propaganda) with a hidden agenda. You need to separate China’s economic strategy from “guesstimate” about political control.

    Talk about China’s autocratic control is even more ridiculous when you see China’s traffic where pedestrians comingled with motorised or electric scooters along the sidewalks. S’pore’s even more autocratic when the govt unilaterally banned PMDs from the sidewalks. What are you writing about? Sounds that you’ve never set foot in China.

    Even China’s past learning from S’pore – China has long since surpassed S’pore in literally everything they do. S’pore has stagnated for a long time! It’s shameful to criticize China when S’pore haven’t progressed for a long time!

    The joke is that PRC tourists to S’pore remarked why elderly S’poreans are still working in menial jobs?

    According to them, their elders in China get a govt stipend, free healthcare & spend their time in parks exercising, socialising & relaxing.

    Whereas an ex-Minister in S’pore had the cheek to say that elderly collect cardboard for “exercise” when the reality was that they collect cardboards for a living. Their million dollar pay blinds them to the elders life’s harsh realities!

    Is this a sign of failure on the part of S’pore’s govt & a social failure to honour the elders’ past contribution to S’pore?

    What gives you the right to comment on China when you don’t even have the guts to speak out on local issues? Are you a coward?

    Birds Of Same Feather:

    The Chinese official have been coming to Sillypore since 1980s to learn about “social capitalism”, how to make money with autocratic rule, with a state driven economy. The visible advantage is that the growth trajectory will be much faster than one that developed intrinsically. Some of the greatest banes, just to name a few, are the prone to kleptocracy and lack of robustness in overall development as resources are channelled to certain sectors.

    China’s social security and healthcare is now a ticking time bomb, just because the CCP modelled them from Sillypore. The healthcare cost has escalated beyond the reach of many. The propaganda slogan on healthcare in China is surprisingly similar to that of Sillypore. Netizens here have mentioned that before.

    Little do you know, looking beyond the surface and the prolification of misinformation to mask certain truths, the state of economy in China under CCP is collapsing.

    Get news from the right places.

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  • Sojoürner of Truth:

    S’pore need pillars: @Sojorner of truth

    ////////////////////////////////////

    You are lost.
    Here is the picture.
    Let’s say a company needs 100 workers to operate here and they can only hire 50 Singaporeans while the rest are foreigners.
    Now you ask the foreigners to go back home.
    If the company cannot get locals, the company would have to close shop and the 50 Singaporeans will lose their jobs.

    This is what happens when an individual who struggles to maintain a linear train of thought is put in charge of something complex. Hahaha….

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  • Sojoürner of Truth:

    Financially Speaking: The world today is full of financialization [monetary expansion] & full of asset bubbles. When it all ends, we’ll see a new world – one that is going to be austere & sustainable. The sad thing is that it will be the end of Western Civilization & the beginning of a new world order in the East. One that demands collective behaviour & social credits to survive. Hopefully by then, I won’t be around!

    @Financially Speaking
    As someone who grew up in Singapore, I’ve long been attuned to the balancing act our government has had to play between the US and China. While Singapore is not a formal ally of the US, its foreign policy outlook clearly reflect a preference for the US continuing to be the main security provider.

    Unfortunately, we have seen that while China amassed a behemoth economy throughout the 2000s and replaced the US as the largest trading nation, the latter’s foreign policymakers have been slow to grasp the significance of economic power in the 21st century. Being the largest trading partner of so many countries in the Asia-Pacific and the world, means China wields a high degree of leverage over their economies, which even the US doesn’t enjoy.

    The stage is already very different from year 2001, when Chinese GDP was just US$ 1.3 trillion. Today, this figure is US$ 13.6 trillion. Even Japan and India combined don’t come close, and only the US exceeds it. So which small country can afford to shun China today without repercussions?

    Sadly, domestic politics in the US has also compromised its reliability as a regional actor even as China has risen. A government shutdown had forced Obama to cancel a summit meeting with Southeast Asian leaders even as Putin and Xi attended. Then the TPP meant to revitalise America’s economic influence, give it a fighting chance, was torpedoed by the Trump administration.

    The U.S. and China signed what they are billing as the first step of a larger trade pact today despite lingering concerns about whether the efforts of President Donald Trump to reform Beijing’s economic relationship will ever go any further. Acrimonious talks stretching back almost three years have roiled financial markets, cast a cloud of uncertainty over investment decisions and hurt growth in both nations.

    It has already made me doubt if the US can really stand up to China. Singapore can dream on.

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  • Financially Speaking:

    @ S’pore need pillars:
    Formal Academic Education is overrated these days. Besides when “Foreign Talent” steal jobs from locals in S’pore using fake, forged & unauthenticated educational credentials – the govt mechanism has clearly failed the people.

    And over 16 years (since 2004 start of “open-leg policy” to political backlash in 2011GE to today) for Minister Josephine Teo to come up with legislation in 2020 to protect locals points to a extremely slow & ineffectual govt intent on collect their high salaries but unable to do the right thing for fear of upsetting the apple cart.

    Ngiam Tong Dow (which he later retracted) & Phillip Yeo had commented on this previously.

    S’pore is still stuck in a low pay, menial type with no labour productivity type of economy. S’pore is comparable to African & the Indian economies except for a 1st class Infrastructural “Facade” funded by CPF monies which disguises a lousy, stagnant & moribund economy still stuck in the stone age.

    Higher wages level leads to higher labour productivity rates & more ingenious use of labour resources. In Australia, blue collar workers (in the mining sector) are paid higher than even white collar professionals. Tradies are paid a higher hourly rate than white collar workers. Yet this leads to a higher labour productivity because the pay levels dictate where the labour flows into that particular sector. Mining is a vital export sector while construction work has fuelled the Australia Economy the last decade. It is call Economics!

    Something which you clearly lack & continue to exhibit your ignorance & idiocracy for us to see! Small or big also have no relevance in use of labour productivity measures. You are making pathetic exercises to fill in the “gaps” in your weak arguments.

    S’pore need pillars: You are a prodigy.
    Let’s say we pay a cleaner $5000/ month.
    Cleaners don’t require much education.
    If a cleaner’s pay is as good as an engineer, there will be a lot of people who are not willing to go to school.
    This can happen in big and wealthy countries, not small countries like ours.
    I heard of one incident in a rich country where a lawyer was doing a part-time job as a cleaner.

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  • oxygen:

    @ S’pore need pillars:

    EXACTLY RIGHT, the pillars are rotting. The Committee for Future Economy IN 2017 is clueless of the way forward, NO RECOMMENDATION OF FUTURE DIRECTION – AFTER PRESENT TENSE TOLD THE NATION in 2015 that our economy has MAXED OUT..

    S’pore need pillars: Is not wait for the pillars to collapse

    That is why I said this

    oxygen: WE MUST CHANGE DIRECTION NOW OR VANGUISH

    YOU ARE STILL IN SLUMBERLAND IN ALICE’S AMUSEMENT PARK.

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  • oxygen:

    @ Financially Speaking:

    EXACTLY RIGHT, MATE. @ S’pore needs pillars is CLUELESS OR IN DENIAL or both.

    Financially Speaking: Something which you clearly lack & continue to exhibit your ignorance & idiocracy for us to see! Small or big also have no relevance in use of labour productivity measures. You are making pathetic exercises to fill in the “gaps” in your weak arguments.

    Can you imagine he/she wrote this??

    S’pore need pillars: We do well the last 50 over years is because we have capable people who know how to keep up grading our pillars.
    That’s why we are successful.

    AND NOT KNOWING THIS? a NY jogger wrote this in 2012

    Singapore’s Economy Is Maxed Out

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

    AND PRESENT TENSE NOT DENYING ITS TRUTH, finally confessed in 2015, our economy MAXED OUT – 3 years behind time.

    @ S’pore need pillar is at least 7 years behind time and still is

    oxygen: YOU ARE STILL IN SLUMBERLAND IN ALICE’S AMUSEMENT PARK.

    HOW SAD AND MISERABLE OF HIS PLIGHT IN THE DARKNESS OF UNKNOWN WHICH THE REST OF THE WORLD KNOWS OF TRUTH AND REALITY – the pillars of LEE-jiapore economy is ALREADY LONG ROTTING!

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  • Financially Speaking:

    @ Sojorner of Truth:
    S’pore’s geopolitical reading of emerging political waves (undercurrents) are extremely flawed & downright flaky.

    What’s the reason I have no idea but “Groupthink” possibly could be one answer. The others could be Arrogance & the Meritocracy Policy (Elitism & non-inclusive attitudes towards alternative, ‘out-of-left-field’ but plausible views). S’pore looks doomed if there is no fundamental change nor reforms in those rigid attitudes.

    The US has lost leadership in several critical sectors in their haste to capture higher “profits” [Globalisation, shareholders' interests] over strategic economic importance. They are:
    * Smartphone eco-system;
    * Vital phone apps suite of uses (Google’s Android system can be cast aside for a China system eventually);
    * Cashless eco-system using Mobile technology;
    * 5G mobile network; &
    * Emphasis on STEM education & on R&D using brilliant Chinese minds to conjure out technological breakthroughs.

    In everyone of the above, the US have conceded ground to China. Everyone focused on China’s Belt Road Initiative (BRI) but the real issue is China’s eventual monopoly of the Digital Highway over Global Commerce & International Trade. When it all comes together, China would be a Paramount World Order & all other must bow down to them including S’pore. The smug PAP party who are still full of themselves (high pay, total control) but oblivious to the changing world order would find themselves with egg on their faces & an angry electorate struggling to survive economic irrelevance outside of China’s influence.

    The US is mired in a political Civil War between the two Political Parties (the parties themselves are struggling with the various factions within the party). The US Economy is also caught in a vice grip between serving “Big Money” interest intent on collecting more wealth & a disillusioned electorate looking for answers to stem their descent into Economic “Hell”. The eventual outcome would be not good for the world’s economy.

    Sojoürner of Truth: While Singapore is not a formal ally of the US, its foreign policy outlook clearly reflect a preference for the US continuing to be the main security provider. It has already made me doubt if the US can really stand up to China. Singapore can dream on.

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  • engineers, doctors, lawyers:

    //Cleaners don’t require much education.
    If a cleaner’s pay is as good as an engineer, there will be a lot of people who are not willing to go to school.//

    really or not ? aiyoh. if you have 6.9m or 10m or 90m open-leg policy ? even the jobs of your own local engineers, doctors, lawyers and bankers will also be at GREAT risk lar ?

    tokking about engineer, then you must watch this video fully (some mention on engineer) lar ?

    https://www.youtube.com/watch?v=usksY1AYVFA

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  • underlying problems:

    //This can happen in big and wealthy countries, not small countries like ours.
    I heard of one incident in a rich country where a lawyer was doing a part-time job as a cleaner.//

    aiyoh. hk is quite similar to sinkie land leh ? except we have white monkey idiots and they have had protests (evolving into) riots ? and what are the real underlying problems (other than the proposed extradition law which triggered it) ?

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  • Financially Speaking:

    @ S’pore need pillars:
    Your arguments are pathetic just like the S’pore govt’s replies to the public when confronted with hard questions.

    A low wage value at the household level but the necessity to engage a maid as both income-earners need to be out of the house in order to earn their keep just to survive cannot be construed as “a family [who] can afford a maid”.

    An absolute necessity which can’t be turned around into an affordable item which you ingenously claim to be.

    And how many families bring in an income many times more than the maid’s salary? Do you have the statistics to back up your claims? Or are you just “farting” again as in your various replies to our retorts?

    The reality is that maid’s wages (pushed up by their respective Govts) & the incidentals like S’pore govt levies, food inflation (maids need to eat) have risen faster than S’pore wage levels. Your “affordability” argument is shot to pieces here. Domestic maids are an unnecessary evil for S’pore!

    Your Manpower shortage argument is equally weak because it takes a sharp critic to note the immense cashflows from maid levies which enriched govt revenues at the expense of people’s income & wealth. Isn’t this a “wealth transfer” scheme? Much like an indirect income taxation of a necessity brought on because of a need for double income households to meet family financial commitments.

    A higher wage level & women taking time off from work to look after their kids for the initial stage of development is more productive than engaging an unproductive maid to mind their kids & do household chores. TFR might even go up if such a conducive pro-nurture eco-system is created.

    The problems comes about when children depend on their maids to do things like feeding themselves & tying their own shoelaces. Something which I remarked you have still unable to do except for the maid to do it for you!

    S’pore need pillars: If a family can afford to have a maid, the family definitely can bring in an income many times more than the maid’s salary.

    Singapore has a shortage of manpower so having maids to help is definitely a good idea.

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  • become one's family member:

    //S’pore need pillars: If a family can afford to have a maid, the family definitely can bring in an income many times more than the maid’s salary.//

    aiyoh ? not many times more lar (even though there are cases that the income may be many times more or millions times more like some banking or real estate honchos ?) ?

    mathematically (may be just a tinny winny time more in terms of income), as long as there is a net gain of hiring a helper (a necessity given certain circumstances), one should go for it, of course not counting the privacy or the unknown quality of help (all considerations to take in a maid) or the possibility of ‘chio bu’ maids who may become one’s family member / relative in the future ?

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  • Financially Speaking:

    @ oxygen:
    S’pore is woefully lagging behind the whole region especially against China & their satellites.

    PAP IBs can only seek consolation by tagging S’pore’s pathetic economic performance against laggard economies like M’sia, Indonesia & the Philippines.

    Much like that rubber tapper/durian picker chap who constantly sings about the 1:3 SG/RM Forex to stroke his overinflated ego & obvious delusional state of mind.

    Only then they can “show” S’pore’s economic performance as superior!

    Against China, S’pore is shot out of the skies after seeing their impressive cashless system which they implemented around 2010. It took PAP 7 years to identify China’s successful cashless system. Inbetween, we can only assume a period of either sleeping or cash counting. It is now 2020, S’pore’s cashless payment version is still in the licensing stage! How slow can they go?

    PRESENT TENSE penchant for Infrastructural Spending on White Elephant “Beauties” simply an ego-stroking exercise. Jewel @ Changi took less than a year to show it’s white colour & their Elephant form.

    Paul Krugman had already said that Infrastructural Spending which had gone beyond a certain point would be counter productive & even negative (Diminishing Returns). And that was waa…y back in 1994.

    S’pore or rather the PAP constantly failed to reconfigure the economy to meet the challenges ahead but instead contrived to spend their way out of their conundrum by creating a fake oasis out of brick ‘n mortar.

    And S’pore’s geopolitical game is woefully out of synch with Global developments. Are the PAP betting the entire house on the wrong horse again?

    Just like in 2016 Presidential Elections where the white horse called Hillary Clinton came up lame in the finishing stretch leaving the orange horse called Donald Trump galloping to the finish line & to victory.

    The rest is history after Trump ended American Globalisation with TPP cancellation. In the process, PAP’s dreams of untold riches & everlasting power.

    In that same year, China didn’t invite PRESENT TENSE to their OBOR party. And in the 2nd party, PRESENT TENSE & His Investment guru wife stood as far as Urumqi from Beijing.

    oxygen: AND PRESENT TENSE NOT DENYING ITS TRUTH, finally confessed in 2015, our economy MAXED OUT – 3 years behind time.

    @ S’pore need pillar is at least 7 years behind time and still is

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  • construction and construction:

    //PRESENT TENSE penchant for Infrastructural Spending on White Elephant “Beauties” simply an ego-stroking exercise. Jewel @ Changi took less than a year to show it’s white colour & their Elephant form.//

    aiyoh. forever construction and construction creating inconvenience, dust and noise pollution ? move port here to there ? tear down school / renovation and rebuild school in another location ? upgrade staduim then tear down stadium ? tear down good floor / wall tiles of blocks and then retile ? build T1, T2, T3, T4, T5 and …..T1000 ?????

    artificially boost up 6.9m or 10m, then build, build and build by slaughtering REAL BIG green space and petend petend to put up green around to showcase how green sinkie land is ???

    never mind, comes many years down the road, then the cycle of rebuilding, maintaining and overhauling huge amount of infrastructural projects when they become old needing huge amount of $$$ (while inflating the environment and socialization the cost of such projects) ?????

    by then, the existing group of white idiots and gang making such policy decisions to have them will not be around to pick up the burden of servicing such projects in the future ?????

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  • Financially Speaking:

    @ construction and construction:
    Pivotal point already reached when all the Developed Economies went full tilt on MMT (QEs, Monetary easing, helicopter money, monetizing debt, negative yield, etc).

    This was done to revive their Moribund Economies through ‘shock’ therapy in order to shift it into inflationary spending & creating ‘wild’ euphoric circumstances like ingesting recreation drugs in a rave party to lose all inhibitions.

    It has not happened as the excess monies accrued into the 1% percentile pockets. The rest (99%) found their wages not increasing with the inflationary trends especially housing costs & ‘keeping up with the Joneses’ lifestyle.

    In the US, this excess liquidity flooded into financial assets & in the East, into properties (HK, S’pore & many other markets).

    Asset bubbles distort market prices as well as underpriced risk profile of Investments especially property (lose inhibitions towards risky investing).

    But the reality is they are also destroying their currency values & the confidence of counterparty trading partners to accept their debased currency value of exchange.

    The US$ are also facing an existential fate as many countries are looking to dump their US$ holdings as a trade & investment currency (Reserve Status) for something else altogether.

    S’pore’s store of wealth are intrinsically linked to the US$. Any disruption to this fundamental arrangement (SG$:US$) would have deep implication for the S’pore property market.

    S’pore has no vital resources to trade with while S’pore’s economy is just an intermediary mechanism which otherwise has got no added value.

    Also, S’pore is tied to the US security umbrella & to US Globalisation efforts. Both of which are being disrupted by Trump’s unpredictable actions.

    Ask yourself what is the true fundamental value for S’pore property? The reality might just shocked many after the dust settles!

    construction and construction:
    aiyoh. forever construction and construction creating inconvenience, dust and noise pollution ? move port here to there ? tear down school / renovation and rebuild school in another location ? upgrade staduim then tear down stadium ? tear down good floor / wall tiles of blocks and then retile ? build T1, T2, T3, T4, T5 and …..T1000 ?????

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  • But:

    If u say sg gov underperform over pay . I can relate. But nothing to do with whether we root for China or USA.

    But even if we 100% root for China so what. We commoners still the same , only businesses owners, land properties owners , venture capitalists, , ….still the top food chain people worth it. The rest no difference, may be no NS. Zero crimes ? BS , food delivery guy can just kill someone over ratings or remarks !

    It remains to see how much jobs can be created. And lets be honest they hired their kind. Even in malaysia Dr M also comment that.

    But 1. i have to agree their people willing ( or maybe no choice ) do the jobs we people avoid. 2. Their EQ is better than SG, they dare to reason but they wont face to face challenge bosses. Make boss lose face. They know how to sarkar even though very very pretentious.

    China no retrenchment ? Recently so many , even their profitable BATJ retrench. If China so good why their people not fully employed. Need to go overseas to steal other people’s rice bowl.

    Personally i feel if u want swing votes from the 70% over. Better not to bring China US spat into the picture. It may back fire instead

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  • trading and reserve currency:

    //The US$ are also facing an existential fate as many countries are looking to dump their US$ holdings as a trade & investment currency (Reserve Status) for something else altogether.//

    aiyoh ? generally, i concur what you have said lar ?

    but usd is the champion reference currency to escape to if anything shakes in a wrong way (be it any commodity or war or etc etc etc?) in any part of the world lar ?

    any country can dump usd all they want, but will lose value of what one has earned (exchanged for usd) in the first place lar (like a discount) ? and usd has the mojo to ensure its usefulness (legacy mechanics of exchange & of keeping it in the first place as a trading and reserve currency) – in short, the world is indirectly dollarized by usd (hence its perpetuating strength) ?

    lastly, which currency would the other nations like to escape to if anything goes wrong (i mean in a big way that it will replace usd in its status as a trading and reserve currency) ?

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  • Sojoürner of Truth:

    Financially Speaking: The US$ are also facing an existential fate as many countries are looking to dump their US$ holdings as a trade & investment currency (Reserve Status) for something else altogether.

    S’pore’s store of wealth are intrinsically linked to the US$. Any disruption to this fundamental arrangement (SG$:US$) would have deep implication for the S’pore property market.

    @Financially Speaking
    Bingo! bro.

    For many decades now, the USA has maintained a “strong dollar” policy in spite of running enormous trade and government budget deficits. That would not have been possible unless neo-mercantilist exporting nations, primarily Japan and China, intervened in currency markets to buy dollars when they should have been selling surplus trade dollars.

    The neo-mercantilists loaned dollars back to the US government, which converted US trade deficits into US sovereign debt debt. That pile of US government debt has grown like a garbage mountain that no one quite knows what to do with. The primary beneficiaries were transnational corporations which were able to buy goods and services in weak mercantilist currencies fore decades and sell in strong dollar markets. Since transnational corporations set policy in the USA, that arrangement continues today.

    It’s not the business of the Chinese Central Bank to save the US either. So when US starts loudly crowing that China should rescue the US by relying more on their own spending and less on exports the Chinese, unsurprisingly, look away. Why should China bend to US demands on its currency and pay the price of America’s addiction to cheap debt?

    All emerging economies should peg their currencies to the US dollar and immediately start working out bilateral trade agreements in their own currencies to isolate themselves from Western influence. Western governments are run by a wealthy financial oligarchy, underwritten by Western free market economists for the benefit of the same wealthy in the West. It needs to be brought down and a new world economic system developed that serves all the people of the world, not just the wealthy.

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  • Financially Speaking:

    @ trading and reserve currency:
    China & Russia are quietly dumping US$ T-Bills/Govt bonds for Physical Gold & future settlement currency backed by gold.

    Poland just repatriated their gold bar holdings from London Gold Depository to their own gold vaults in Poland.

    Eastern European Central Banks are also quietly buying gold in preparation for future contingency.

    Even Cryptocurrencies are having a positive effect due to the uncertainty over the US$ & Trump’s unpredictable behaviour & whimsical decision making.

    Fiat currencies eg. US$, €, J¥ & SFR are all debased currencies. €, J¥ & SFR have negative yields while the US$ is presently being expanded to fuel the DJI/NASDAQ. US stockmarkets are extremely overbought.

    Trump bullying ways in trade matters are wearing US trade partners patience extremely thin. France are facing US trade tariff retribution over their wine & champagne exports after France slapped a Google tax & forced Ireland to impose corporate tax on offshore US entities.

    Certain oil & gas exporting countries are settling their exports using other currencies on order to avoid US trade sanctions. Russia are building gas pipelines to Europe & settling in other currencies other than US$.

    If countries opt to hold less US$ reserves & settled using Gold-backed settlement currencies other than US$, the US Economy will be in deep trouble!

    The US Economy is on the way down. Even Boeing suffers from adverse effect from their 737 MAX jetliner issues; And AirBus have taken over from Boeing. The US Industrial integrity have been destroyed by Boeing’s sheer madness putting shareholders’ profits (management bonuses?) before passenger’s safety.

    Financially Speaking, the US$ value momentum is on the way down. No matter how you looked at it, the US$ day as a Reserve Currency is nearly over!

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  • Financially Speaking:

    @ Sojorner of Truth:
    The US had their day under the sun! – they have had the opportunity to live beyond their means & to overconsume more than others simply because of the US$ Reserve Currency Status. Their day is ending!

    The last 4 to 5 decades eversince their domestic manufacturing economy hollowed out due to Globalisation & outsourcing of manufacturing to the East. Yet the US$ Reserve Currency Status enable the US citizens to:
    * buy cheap imported goods (reduced consumer inflation);
    * afford imported cars loaded with ‘free’ options; &
    * go on cheap holidays using a strong US$ to poor destinations hungry & desperate for Greenbacks.

    Because many Global commodities were traded & denominated using US$, foreign exporters to US markets often ‘subdidized’ their exported goods with goodies often to drive up volume sales! Why? To capture a significant reserves of US$ holdings where they could go out & buy commodities & raw materials using US$.

    Any surplus US$ holdings were then recycled Internationally using US$ as an Investment Currency for Foreign projects (raw material exploitation, intermediary processing & capital intensive projects) funded using US$.

    Foreign exporters also buy up (bid for) US govt T-Bills & Bonds which had the effect of strengthening the US$ – appreciating the US$ Forex value inspite of US balance of payment deficits & a growing trade imbalance for imported goods.

    Theoretically, any importing nation addicted to imports would see it’s currency value depreciated & devalued in equilibrium. But the US was exceptional, they had overconsume for a long time because of the US$ Reserve Currency Status. Exporters fell backwards buying US$ debts (appreciating the US$) simply to enable US consumers to buy imported goods.

    But the US grew complacent, their industrial & manufacturing base eroded for a US financial cartel to emerge replacing hard work, entrepreneurship with devious money making scams & misalignment of interest between stakeholders & cold hard capitalism. Politicians often sided with the latter.

    Democracy had turned into free market practitioners (Euphemism for Corporatization of vested interest over social values). What we’re seeing are their end product ie. Wealth disparity & social injustice!

    People who can’t understand this deserved to be run over by the system dedicated to stripping you of your wealth & freedoms in the guise of the greater good!

    Sojoürner of Truth: Why should China bend to US demands on its currency and pay the price of America’s addiction to cheap debt?

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  • oxygen:

    @ Financially speaking

    @ Sojoürner of Truth:

    THANK YOU BOTH FOR THE INCISIVE CONTRIBUTIONS in economics/finance reads in this thread.

    MUST READ and comprehend of two deep minds thoughts here.

    This sums up the harsh realities.

    Financially Speaking: they had overconsume for a long time because of the US$ Reserve Currency Status

    Remember in 1971 some 49 years ago,then US Treasury Secretary, John Connally, brazenly told the world this?

    John Connally, US Treasury Secretary, Nixon Administration :The dollar is our currency, but it’s your problem

    https://www.ipe.com/the-dollar-is-our-currency-but-its-your-problem/25599.article

    That BACKFIRED.

    Paul Krugman told the world this

    Paul Krugman :Americans make a living selling each other houses, paid for with money borrowed from the Chinese.”

    LEE-jiapore is doing the same thing, strong Sing dollar, make a living selling each other expensive houses (asset enhancement politics scam of transferring wealth from the poor to the rich)- all a mirage of wealth creation via asset bubbles, GDP growth creation is FAKE importing million of cheaper foreigners (former Trade/Industry Minister, HK LIm called that first world economy can only afford to pay 3rd world wages).

    PROPERTY PRICES IN LEE-JIAPORE IS UNSUSTAINABLE OF ECONOMIC REALITIES.

    It is the last stage of UNNATURAL ARISTOCRATS CLEANING OUT THE LAST CRUMBS OF WEALTH OF THE VANISHING MIDDLE CLASS INTO THEIR POCKETS AND THEN LET THIS PLACE CRASH INTO EXTINCTION, I FEAR.

    @ S’pore need pillars IS AN IDIOT still slumbering in Alice Wonderland amusement park in his fiction dreams of utopia fantasy of PAPpypolitics and PAPpynomics.

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  • oxygen:

    @ Financially speaking

    NOT MAKING ANY INVESTMENT RECOMMENDATIONS HERE. But I know that those investors who QUIETLY BOUGHT INTO Canadian and Australian GOLD-MINING SHARES in the last two years must be GRINNING FROM EAR TO EAR NOW.

    Financially Speaking: China & Russia are quietly dumping US$ T-Bills/Govt bonds for Physical Gold & future settlement currency backed by gold.

    Poland just repatriated their gold bar holdings from London Gold Depository to their own gold vaults in Poland.

    Eastern European Central Banks are also quietly buying gold in preparation for future contingency.

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  • oxygen:

    @ Prabu Ramachandran

    WHILST I AGREE WITH MUCH OF YOUR WRITING in this thread, I STRONGLY DISAGREE WITH THE CONCLUSIONS YOU HAVE REACHED from one angle.

    Prabu Ramachandran :These are real life evidence that current policies – while they benefit the big MNCs – do not affect the ordinary Singaporean citizen.

    I THINK IT SHOULD READ LIKE THIS.

    Prabu Ramachandran :These are real life evidence that current policies – while they STRONGLY benefit the big HYPOCRITICAL UNNATURAL ARISTOCRATS – they also CONCURRENTLY GRAVELY of adversity harm, KILLING AH SENGs, THE PEASANTS

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  • Truth:

    the 60% sheep was unknowingly on a suicide mission, by listening to Madness. there wont be much of a life left after u have listened to a couple of psycho who can tell you you can fly. People are listening to some madness all along thats why some ppl got mad.

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  • every country dancing:

    //Trump bullying ways in trade matters are wearing US trade partners patience extremely thin. France are facing US trade tariff retribution over their wine & champagne exports after France slapped a Google tax & forced Ireland to impose corporate tax on offshore US entities.//

    aiyoh. US has a way to keep on changing garvoning parties like any other advanced democratic countries ? His antics (whether good or bad for US) will only last for a limited two terms (at most) – but unfortunately while he is here at it, he is able to disrupt the many norms of how things should be handled / conducted ? i sort of ‘clapped’ with the way he kicked out TPP (which gives too much power to big corporates) ?

    //Fiat currencies eg. US$, €, J¥ & SFR are all debased currencies. €, J¥ & SFR have negative yields while the US$ is presently being expanded to fuel the DJI/NASDAQ. US stockmarkets are extremely overbought.//

    call it debased as you may ? still they are in use ? all garments need it (sovereignty right and can shiok shiok print it for some monetary purpose) and no other classes of assets can completely denominate the $$$ value in circulation / held in the form of easing exchange ? the world is too embedded into fiat currency ?

    expansion (QE) is also one way to redistribute wealth of putting money into the system (economic growth ?) – no problem for US currently as it is still a “STRONG” country and can afford to keep on doing it ???

    //Financially Speaking, the US$ value momentum is on the way down. No matter how you looked at it, the US$ day as a Reserve Currency is nearly over!//

    temporary momentum ? but still a wide lead relative to other currencies ? and you never know, it may come back again (after trump ?) ? the game of keeping everyone and every country dancing will always be there ?

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  • every country dancing:

    //Trump bullying ways in trade matters are wearing US trade partners patience extremely thin. France are facing US trade tariff retribution over their wine & champagne exports after France slapped a Google tax & forced Ireland to impose corporate tax on offshore US entities.//

    aiyoh. US has a way to keep on changing garvoning parties like any other advanced democratic countries ? His antics (whether good or bad for US) will only last for a limited two terms (at most) – but unfortunately while he is here at it, he is able to disrupt the many norms of how things should be handled / conducted ? i sort of ‘clapped’ with the way he kicked out TPP (which gives too much power to big corporates) ?

    //Fiat currencies eg. US$, €, J¥ & SFR are all debased currencies. €, J¥ & SFR have negative yields while the US$ is presently being expanded to fuel the DJI/NASDAQ. US stockmarkets are extremely overbought.//

    call it debased as you may ? still they are in use ? all garments need it (sovereignty right and can shiok shiok print it for some monetary purpose) and no other classes of assets can completely denominate the $$$ value in circulation / held in the form of easing exchange ? the world is too embedded into fiat currency ?

    expansion (QE) is also one way to redistribute wealth of putting money into the system (economic growth ?) – no problem for US currently as it is still a “STRONG” country and can afford to keep on doing it ???

    //Financially Speaking, the US$ value momentum is on the way down. No matter how you looked at it, the US$ day as a Reserve Currency is nearly over!//

    temporary momentum ? but still a wide lead relative to other currencies ? and you never know, it may come back again (after trump ?) ? the game of keeping everyone and every country dancing will always be there ?

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  • Financially Speaking:

    @ oxygen:
    The S’pore Investment Eco-System is so narrow. Local Investors contented with buying/booking overpriced new S’pore condos/BTO flats thinking that they will be ahead of everyone else “in the long run”. Others plough headfirst into S-REITs especially S’pore Mall REITs unaware that there will be a Retail Apocalypse coming when GST increase hits & the S’pore Economy turns turtle.

    The narrow perspective of the S’porean indoctrinated mind is a thing to wonder “How did we come this far?”

    oxygen:
    @ Financially speaking

    NOT MAKING ANY INVESTMENT RECOMMENDATIONS HERE. But I know that those investors who QUIETLY BOUGHT INTO Canadian and Australian GOLD-MINING SHARES in the last two years must be GRINNING FROM EAR TO EAR NOW.

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