Grandpa’s Revenge

Opposition Politics in Singapore is a thankless task. Generally speaking, the role of the opposition in Singapore has been to serve as a punching bag for the government party. The government, which controls some 79 seats out of a total of 84 in a unicameral parliament, has a habit of using every trick in the book to make life miserable for anyone who even considers running for a seat under the banner of anyone except the ruling party.

Singaporeans have developed a rather strange attitude to the opposition. The opposition MPs were people you clapped for (“Dude – You’ve got guts”) but you’d never actually vote for them. For many years, we kept Chiam See Tong and Low Thia Khiang in Potong Pasir and Hougang simply because their presence was enough to irritate the powers that be.

Then in 2011, we decided that the powers that be needed more than an irritant and so, we handed the Group Representation Council (“GRC or in electoral math – 4 seats”) to Mr. Low’s Workers Party. This was officially the worst showing in the ruling party’s history and things were made even worse when Dr. Tony Tan, the ruling party’s preferred candidate scrapped through the presidency by less than a whisker against Dr. Tan Cheng Bok, a former member of the ruling party.

The ruling party seemed to have gotten lucky in 2015 when it called for an election not too long after our founding father Mr. Lee Kuan Yew died and then, it changed the rules to make the Presidency a preserve the Malay Minority, which the rest of us seemed to think was a ploy to keep Dr. Tan Cheng Bok out of the any organ of state.

Well, things have gotten interesting since 2015. The biggest start to this was when Dr. Tan Cheng Bok found a “Venture Capitalist for Dissidents,” namely Mr. Lee Hsien Yang, the Prime Minister’s younger brother. Dr. Tan has founded the Progress Singapore Party or PSP. The PSP has become something of a hot stock in the field of Singapore’s politics and I had the good fortune of being invited to their Chinese New Year dinner on Friday 17 January 2020.

What a party it was? The food was amazingly good (as Chinese New Year food usually is), there was a rock band called “Evolution” (Dr. Tan has said no to revolution because it involves bloodshed – so he’s proposing evolution) and they were very good. They launched their party song and a mascot. Dr. Tan also introduced new members to his leadership team, all of whom were credible candidates (one of them was a former Air Force Colonel.)

However, what was most telling was the fact that the under 35s were in a significant minority in the room. Dr. Tan is 79 and while admittedly sprightly, he’s definitely an old man. There was a token young girl somewhere but by and large this was a party for the New Old.

When I think of this fact, I’m reminded of a speech that Mr. Leslie Fong, former Vice-President of Marketing at Singapore Press Holdings gave at Ad Asia in 2005. Mr. Fong was speaking at a forum at a time when respected papers around the world were going “tabloid.” Mr. Fong described the whole exercise as “A futile effort to dumb down for younger eye balls at the expense of more valuable older ones.”

I think of that moment and the PSP dinner because it looks like the PAP has forgotten “more valuable older ones.” The people at the PSP had all benefited from the system created by the PAP government. This wasn’t a gathering of louts or the systems losers. The man who was appointed to be Dr. Tan’s number two is a former hedge fund manager. You’d imagine that this lot would be cheering the ruling party on for giving them so much.

Yet, they weren’t cheering on the ruling party and there has to be a reason for this. My Mum would argue that this is because while people may benefit from something, they’ll turn on it if it hurts their kids. One only has to think of cases of battered wives who happily put up with a battering and then, when the abusive spouse turns on the kids, she does what she should have done ages ago. What does it say about the state of things when a loyal member of the ruling party becomes a member of the opposition?

Likewise, with the “Baby Boomers,” also known as those heading into their 70s. They have benefited from the system but have their children? I’m brought back to the days before I was trying to get my passport renewed to go back to school in England (a process that the government enjoys complicating to ensure kids come back for National Service). My Dad had just lost a contract to shoot an ad for the Air Force to an Australian who had a Hong Kong Crew (My Dad’s crew being Malay but Singapore Born). It was at this point where he said, “I’ll vote for the other guy, even if he’s an idiot. Why is my son doing National Service but they’re giving benefits to the guys whose kids don’t serve?”

I think of these moments because the powers that be need to studying the ground. Its moments like what my parents went through that make people change their minds so to speak. The PAP Government has on the whole done a good job for Singapore but it needs to look beyond and build for future generations rather than for a single one. They’ve done well but to remain in power they need to make people feel they’ll continue doing well.

 

Tang Li

*The author blogs at http://beautifullyincoherent.blogspot.com/

 

 

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65 Responses to “Grandpa’s Revenge”

  • This isn't PAP seriously....:

    …. not the valiant ones that built this Republic up to the 80s last century…

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  • The Loser Mentality:

    This article will go down well with those without balls or need some excuses to sit on the fence.

    So what is your point? Your whole clan is going to vote oppositions even if they idiots and you hope others to follow? or that stupid sinkies should just suck it all up because it is, according to your view, “on the whole done a good job”?

    So what in particular, Singapore is doing well, care to name a few examples?
    That old folks could still get some cpf money after 67? or people still get to stay in their HDB before it expires to zero value instead of increase in asset value?
    or that fire got to burn only one floor instead of whole block? or got working water hose a few floors down instead of the same floor that was ‘locked’?

    We need people who would voice critically, clearly pointing out issues, because only such voices matter and will deliver results.
    There is no more time for complaisant eye-pleasing academic write-up, there are already too many of such.

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  • REGIME CHANGE is the solution:

    The fact is Singaporeans are worse off since LHL became PM. The Government has become more pro-alien resulting in thousands of Singaporean PMETs to lose their job to “cheap” (no CPF) foreigners. The price of HDB flats MORE THAN DOUBLED while wages were stagnant. Prices of all utilities (electricity, gas, water) and public transport ware went up significantly. CPF accounts of Singaporeans are depleted (below CPF Minimum Sum) after paying for over-priced HDB flats. The bulk of the retirement savings (CPF) of Singaporeans are stuck in their HDB flat which will depreciate to zero by the end of the lease (a fact despite what LKY said). It is now clear using retirement savings (which should appreciate) should never have been invested in an HDB flat which is basically a depreciating asset.

    LKY is dead (and he is NEVER coming back). PAP is a “SPENT FORCE”. It is time to bury PAO with LKY. Time to move on without the pro-alien, “spent force” PAP. VTO.

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  • justanothercitizen:

    @ Tang Li
    Seems to me that the MIW propaganda virus is strong in you!
    Singapore do not need a better government. She needs a system overhaul.

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  • KO Blow:

    Do really well indeed, $300,000.00 per day.

    By the way, alot of husband wives in the business, President from PAP, AGC one from PAP and one is personal lawyer, so won’t you add is by sheer lottery coincident?

    from irritant, to knock and now to K.O.? no worries, they’ll survive the 10 counts.

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  • rewriting pap history book:

    1, lky is not founding father. he is only one of the founding members. the more esteemed are Dr Toh CC Dr Goh KS. lky was the snaky serpant opportunist who succeeded in a clan of gentlemen.

    2, pap did good for Singaporeans only when Dr Toh CC Dr Goh KS was around to check and balance lky. when lky ousted these gentlemen from power, Singapore started to fail. failing faster since 2004 when lky clown was instituted into seat.

    3, we are speaking loudly the pap system is legalized nepotism cronyism which shall do Singapore and Singaporeans more harm than good if allowed to continue.

    4, pap lies have gone up to high heavens. INSIDE 200m is not within 200m. INDIAN is malay. accused must prove to accuser innocence. it is so bad even Mr Lee Hsien Yang Dr Lee Wei Ling Mr Li Shengwu cannot tahan.

    5, najib and wife not so smart to churi with 1mdb. they should have done it via appointing wife to position in 1mdb at secretive salary for wife so that cannot be caught like pap clown and wife are doing gic temasick.

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  • Mencius says:

    “Let not a man do what his sense of Right bids him not to do, nor should he desire what it forbids him to desire.
    This will be adequate: That a skillful artist will not alter his dimensions for the sake of a stupid workman.
    Mankind may fear an evil man but Heaven does not.”

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  • Don’t rock the boat:

    Politics in Singapore is about our survival our meals our livelihood.
    Many had taught our prosperity today will last forever.
    Many are not aware that the luxury we are enjoying can end overnight.

    LkY had remained us
    “Don’t rock the boat ”
    “If we fail we will never come back ”

    First let’s understand how we make a living.
    Only natural resources we have is our port other than that every other jobs and opportunities have to be created .
    LKY reminds us
    “Singapore need the most able people to run ”
    We need very capable people to bring in investments bring in business opportunities for Singaporeans and have the foresight to keep transforming our economy for our survival.
    So have to be the most competitive economy in the world.
    LkY reminds us
    “Every time we be number one or number two does this matter ?Yes ”
    If we cannot compete we will never survive.

    Let’s look at this
    We have opposition members in parliament for years. Until now ,any solid economic survival alternative proposed ?
    Imagine one day if opposition without any solid ideas how to make this place work and send the foreigners and investors fleeing we are finished.
    We have nothing to buffer,700sq km in land area too small to grow our own food.90 over percent of our daily necessities are imported.How are we going to survive?

    Where are we going to find jobs?
    Go to our neighbouring countries?
    Are there jobs for us?Are we welcome? Can we earn what we’re earning now?

    Ultimately politics is about our survival especially in this tiny resource less red dot and we do well is because PAP is able to build a trust between citizens and the investors.
    Don’t destroy it.

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  • patriot of TUMASIK:

    PAP and Lie Con You…Bigots Racists and self Proclaimed AristoCRAPS

    Can you Trust a Malay with a Machine Gun when CONflicts break out with UpNorth???

    Can you Trust a Malay in The Air Force???

    Can a Lower Mortal beget what a White Horse can who at WORSE beget a Grey(never a Donkey or a Mule)

    Can you trust someone who Kiss & Hug but STAB you in the back???…trust a Lie someone who will STAB a Friend and Comrade if he is a threat to your position

    What can be WORSE??? IDIOTS who vote for ABOVE!!!

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  • Financially Speaking:

    @ Don’t rock the boat:
    It’s getting tiresome to hear your message! LKY has been dead since March 2015 & the world has moved on eversince. Move on!

    S’pore needs new directions, something which the incumbent party can’t provide, unable to comprehend & frankly, can’t look past their nose of high ministerial pay & absolute power without responsibility to their electorate.

    When the present day mechanism can’t even provide for the needs of the old & the elderly. Instead they are forced to carrying on working in the twilight of their years. It is clear that the system has failed!

    Look at the construction of Jewel @ Changi. The white colour has become evident while the shape takes the form of an elephant. The Wuhan Coronavirus puts the sword into Jewel @ Changi – how many travellers do you think will still be travelling with the Coronavirus rampant?

    Mindless Infrastructural Spending leading to a high cost of living eco-system. This indicates that taxpayers & the public are funding these Infrastructural Spending, not from govt reserves.

    Don’t rock the boat:
    Politics in Singapore is about our survival our meals our livelihood.
    Many had taught our prosperity today will last forever.
    Many are not aware that the luxury we are enjoying can end overnight.

    LkY had remained us
    “Don’t rock the boat ”
    “If we fail we will never come back ”

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  • Harder Truths:

    This is why I say that the days of the opposition are numbered.

    Most likely after this election the older ones will not be able to stand again, and the younger ones will see no future trying to stand up for a population that throws them under the bus at every election.

    $G voters are a sorry lot – they don’t want to be identified with the opposition for fear of repercussion but even vote against them for fear of losing the pappies.

    There is no hope for this lot of fools.

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  • Asd:

    Not revenge.. its rescue

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  • Quota beware:

    This guy is trying to influence people to continue to vote for pap.

    He is a mole.

    Look at Quora.com. many have written Q&A to defend PAP and Singapore as a true democracy despite its authoritarianism, knuckle dusting and gerrymandering and use of pofma. These questions are likely searched by foreigners and would be new citizens and help them continue to vote for pap.

    Just search quora.com. Opposition should respond to propaganda using quora.com and write alternative Q&A.

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  • Art of Apple-polishing:

    The Loser Mentality: This article will go down well with those without balls or need some excuses to sit on the fence.

    If you read carefully. More like ‘balls-carrying’ article disguised as apologetic.

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  • Sinking Sinkies:

    To be blunt sinkies are a gone case. Majority are selfish, as long as I am ok to hell with others. Imaginary fear is another factor. It has been the culture since old man days.

    The typical ones are those kpkb king over cost of living, increased cost of healthcare, raised transport fares just to name a few but continue to support them. Nothing can take the numbskull out of them and in the process they drag all others into the sinkhole.

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  • U die your bz:

    Papigs policy—vote for me, you get your lift upgraded; if not…
    Attitude cultivated by the selfish papiggies.
    Your character is moulded by the actions you take.
    BTW is buy-high-sell-low taking off the MASK on her salary.
    MP Png and the whole of sinkieland awaits with bated breadth; without mask on.

    Sinking Sinkies:
    To be blunt sinkies are a gone case. Majority are selfish, as long as I am ok to hell with others. Imaginary fear is another factor. It has been the culture since old man days.

    The typical ones are those kpkb king over cost of living, increased cost of healthcare, raised transport fares just to name a few but continue to support them. Nothing can take the numbskull out of them and in the process they drag all others into the sinkhole.

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  • Don’t rock the boat:

    @Financially Speaking:
    It’s getting tiresome to hear your message! LKY has been dead since March 2015 & the world has moved on eversince. Move on!
    S’pore needs new directions, something which the incumbent party can’t provide, unable to comprehend & frankly, can’t look past their nose of high ministerial pay & absolute power without responsibility to their electorate.
    When the present day mechanism can’t even provide for the needs of the old & the elderly. Instead they are forced to carrying on working in the twilight of their years. It is clear that the system has failed!
    Look at the construction of Jewel @ Changi. The white colour has become evident while the shape takes the form of an elephant. The Wuhan Coronavirus puts the sword into Jewel @ Changi – how many travellers do you think will still be travelling with the Coronavirus rampant?
    Mindless Infrastructural Spending leading to a high cost of living eco-system. This indicates that taxpayers & the public are funding these Infrastructural Spending, not from govt reserves.
    ///////////////////////////////////////////////
    Wise man’s advice is still very relevant to us today.

    High ministerial pay?
    They are way underpaid.
    Remember everything has to be created; they don’t come naturally.
    We have a strategic location, so capitalising on trade is absolutely not wrong. Look at our success in the last half of the century. It’s enough proof.

    We have a serious ageing population problem. Our birth rate last year is 1.14.
    If Singapore fails. Singaporeans will suffer.
    So as long as we are still able, regardless of our age, we can help to make Singapore work.

    Wuhan coronavirus puts the sword into [email protected]?
    How serious it’s going to affect us is yet to be determined.
    The world is not ending because of the coronavirus.
    History has shown us that no matter how serious it gets, life will be back to normal over a period of time.

    And to you, every project is a white elephant.

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  • Financially Speaking:

    @ Don’t rock the boat:
    Apparently you didn’t read about the Spanish Flu of 1918. This 1918 epidemic infected 500 million people around the world, and probably 50 million, and possibly as high as 100 million (three to five percent of Earth’s population at the time) died, making it one of the deadliest epidemics in human history.

    I dare not even comment on this Coronavirus, what makes you an CDC expert?

    Not every project will be a white elephant if inclusive public views are taken into account & unless financial transparency are provided.

    A white elephant tag is given when there is no ROI & the cost of construction is silent as to the actual expenditure. You wouldn’t know a White Elephant even when you see one. That’s how ignorant you are!

    Don’t rock the boat: And to you, every project is a white elephant.

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  • Financially Speaking:

    @ Don’t rock the boat:
    Donald Trump & Xi Jinping are leaders of their respective economies that are 100x larger than S’pore’s peanut economy. Yet both are paid much less. What are you muttering? Are you mad?

    Don’t rock the boat: High ministerial pay?
    They are way underpaid.

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  • oxygen:

    @ Don’t rock the boat

    FACILE NARRATIVE below. You talk about….”the last half of century”? It is two decades since Y2K!!

    Don’t rock the boat: We have a strategic location, so capitalising on trade is absolutely not wrong. Look at our success in the last half of the century. It’s enough proof.

    So no achievements since Y2K is …”enough proof” of inactivism and no progress since?

    Digitization and technology have accelerated in commerce and industry.

    IN A TURBULENT WORLD, INACTIVISM, whilst the rest of the world moves faster in accelerating change, means we are heading faster and faster to extinction irrelevance.

    Read this weblink for your self-education.

    The Prime Minister of Finland Blames Apple for the Country’s Economic Woes

    https://slate.com/technology/2014/10/finland-prime-minister-alexander-stubb-says-apple-took-down-nokia-and-the-finnish-paper-industry.html

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  • Praying that you are old:

    @Don’t rock the boat

    I hope you are an old person. Then it is forgivable that LKY’s propaganda has seep deep inside you such that your logical fallacies has become your guiding truth. LKY would be proud as you are proof that his efforts worked.

    ===

    We have opposition members in parliament for years. Until now ,any solid economic survival alternative proposed ?
    Imagine one day if opposition without any solid ideas how to make this place work and send the foreigners and investors fleeing we are finished.
    We have nothing to buffer,700sq km in land area too small to grow our own food.90 over percent of our daily necessities are imported.How are we going to survive?

    –> But all the economic committees that PAP has convened over the years proposed nothing innovative either,just old wine in new bottle. In that case, if the oppies just take over the auto-pilot governance of the day, all will still be the same, but less costly, rot and nonsense (POFMA, inside is not within, CECA, indian is malay, etc etc etc). If talent means just signing deal and trading pieces, I disbelieve only PAP can do that.

    –> Also, fear mongering with no substance eh? I too could do that. The reason foreigners and investors will flee if it is NOT the PAP is because there is a lot of shady shit between them. All the more to drain the swamp and wipe the slate clean. Did I do well sir?

    Where are we going to find jobs?
    Go to our neighbouring countries?
    Are there jobs for us?Are we welcome? Can we earn what we’re earning now?

    –> So why did we fucking sign CECA to mitigate India’s unemployment problem and worsen our own? Going long on India’s potential as the next great economy, thus trying to sow some good will and HOPEFULLY, get something out of it?

    –> Also, why didn’t you expand your sights further? Why only neighboring countries?

    Ultimately politics is about our survival especially in this tiny resource less red dot and we do well is because PAP is able to build a trust between citizens and the investors.
    Don’t destroy it.

    –> PAP build trust between citizens and investors? Huh? That “citizens” are a docile bunch that won’t give much issue in this very pro-business environment? Investors can replace you anytime with cheaper labor with no repercussions? Investors “post” a job opening while declaring no suitable candidates? What trust are you talking about exactly? Stability? No such thing in this world other than maybe the public administration.

    –> Come on, you gotta be more specific, dun be another PAP toot sounding vessel. Show the numbers and/or well-reasoned line of thinking (not like Ah Chan ok? He is a shining example of what NOT TO BE). I am sure the readers here would very much like to be proven wrong in…

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  • Don’t rock the boat:

    @Financially Speaking:
    Apparently you didn’t read about the Spanish Flu of 1918. This 1918 epidemic infected 500 million people around the world, and probably 50 million, and possibly as high as 100 million (three to five percent of Earth’s population at the time) died, making it one of the deadliest epidemics in human history.
    I dare not even comment on this Coronavirus, what makes you an CDC expert?
    Not every project will be a white elephant if inclusive public views are taken into account & unless financial transparency are provided.
    A white elephant tag is given when there is no ROI & the cost of construction is silent as to the actual expenditure. You wouldn’t know a White Elephant even when you see one. That’s how ignorant you are!
    //////////////////////////////////
    When did I comment on this coronavirus?
    What I meant is, no matter how serious the epidemic may be, once it’s over, life will be back to normal.

    White elephant?
    Just go look around the whole of Singapore. All the tall buildings are all occupied.
    It’s very amazing how this government and Singaporeans are able to attract so many businesses to here.

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  • Don’t rock the boat:

    @Financially Speaking:
    Donald Trump & Xi Jinping are leaders of their respective economies that are 100x larger than S’pore’s peanut economy. Yet both are paid much less. What are you muttering? Are you mad?
    ////////////////////////
    The difference is because of our size. Our economy is man-made; nothing comes naturally.
    And we need to have very farsighted and capable people to keep transforming our economy in order to keep Singapore going and create opportunities for Singaporeans.
    If a minister is way underpaid, like former law minister E.W. Barker who had asked to leave politics because he could not afford his mortgage, who else would want to be a minister?

    If we are as big as US or China where they have an abundance of resources, if they had made some economic mistakes, they will only have minimal impact.
    But because of our size and everything needs to be created, one mistake is enough to wreak havoc on our economy or make us jobless.

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  • Don’t rock the boat:

    @Oxygen
    So no achievements since Y2K is …”enough proof” of inactivism and no progress since?
    Digitization and technology have accelerated in commerce and industry.
    IN A TURBULENT WORLD, INACTIVISM, whilst the rest of the world moves faster in accelerating change, means we are heading faster and faster to extinction irrelevance.
    ////////////////////////////////
    Our gdp in year 2000 is 95.83 usd billion
    https://www.google.com.sg/search?q=singapore+gdp+in+year+2000&ie=UTF-8&oe=UTF-8&hl=en-sg&client=safari
    In year 2018 our 2018 our gdp is 364 usd billion.

    No achievements?

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  • oxygen:

    @ Don’t rock the boat

    MONEY AND POWER ACCUMULATION do NOT have a monopoly of wisdom or the exclusive fountain of wisdom.

    IF IT IS EVER THE CONTRARY, Facebook, Microsoft, Google etc etc won’t have the current captains of business in incumbency (or recent past) now instead of politicians have the buttress as founders and key shareholdings.

    Don’t rock the boat: The difference is because of our size. Our economy is man-made; nothing comes naturally.
    And we need to have very farsighted and capable people to keep transforming our economy in order to keep Singapore going and create opportunities for Singaporeans.
    If a minister is way underpaid, like former law minister E.W. Barker who had asked to leave politics because he could not afford his mortgage, who else would want to be a minister?

    If we are as big as US or China where they have an abundance of resources, if they had made some economic mistakes, they will only have minimal impact.
    But because of our size and everything needs to be created, one mistake is enough to wreak havoc on our economy or make us jobless.

    We don’t have a strong domestic economic sector that is globally competitive after nearly 60 years since independence.

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  • oxygen:

    @ Don’t rock the boat

    THE HOLISTIC DOES NOT REVEALS all the contextual. Don’t know how old are you, but I remember vividly the days of October 1987, THE BUILDINGS ALONG SHENTON WAY WERE ALSO FULLY OCCUPIED but the hawkers and helpers OUTNUMBERED CUSTOMERS AT LAU PA SAT at lunch time.

    Don’t rock the boat: Just go look around the whole of Singapore. All the tall buildings are all occupied.
    It’s very amazing how this government and Singaporeans are able to attract so many businesses to here.

    if you need to wait until all the tall buildings in CBD to fall empty to tell you times are bad, your landed property in District 9 might have fallen into negative valuation (maintenance costs) even if your mortgage is fully paid up.

    We invented “count on me singapore” and “we are Singapore” patriotic songs to console and encourage ourselves when everyone working in CBD knows how fearful Lau Pa Sat eerie silence tells us.

    EMPLOYERS AND EMPLOYEES CPF WERE CUT.

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  • oxygen:

    @ Don’t rock the boat

    MATE, YOU SKIPPED A LOT OF HEARTBEATS there of economics if you are serious. Otherwise I am going to conclude that you are either ignorant of economic realities or simply pandering to fiction.

    Don’t rock the boat: What I meant is, no matter how serious the epidemic may be, once it’s over, life will be back to normal.

    A SERIOUS EPIDEMIC, if this happens of your possible cast scenario, MUST DO UNTOLD DAMAGE to the global economy – MUCH WORST THAN THE GFC of 2009.

    POST GFC, AND MORE THAN 10 YEARS ON, the world is swimming in oceans of MASSIVE ESCALATION OF debt in EVERY MAJOR ECONOMY.

    CENTRAL BANKERS DARE NOT PULL THIS BACK TO NORMALISE FINANCIAL MARKET LIQUIDITY FEARING A CRASH IRRECOVERABLE.

    In this circumstance, a epidemic of global scale (your assumptions have not excluded this) can hope to achieve “life back to normal” MUST BE EXTREMELY NAIVE OF SELF-DELUSION.

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  • Financially Speaking:

    @ Don’t rock the boat:
    Apparently it’s clear that you haven’t heard about the WeWork IPO fiasco. The Sharing Economy business model & Venture Capitalist funded unicorn companies had created an Artificial demand for office space in the name of Short-Term Co-Working Spaces.

    “All the tall buildings are all occupied” syndrome aren’t backed by real business demand but by excessive monetary expansion activities.

    Co-Working Spaces are short-term rentals to cash-flushed Venture Capital start-ups (those with a high probability of failure). These are all VC funded Business Start-ups with a high failure rate who are occupying tall buildings.

    The Coronavirus is a Black Swan event which will cull all these nonsensical VC-backed business models who have no reality for making money. It don’t fool me at all!

    When it ends, Tall buildings will all be White Elephants! Watch this space! Then don’t blame me for laughing right into your face!

    Don’t rock the boat: White elephant?
    Just go look around the whole of Singapore. All the tall buildings are all occupied.
    It’s very amazing how this government and Singaporeans are able to attract so many businesses to here.

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  • Financially Speaking:

    @ Don’t rock the boat:
    You’re just an apologist for the S’pore Ministers. How much are they paying you for your pathetic PR spin?

    A peanut economy like S’pore paying top money for a economy which is much less than the State of California, not even close to top financial centres like NYC or even London.

    What are you smoking? NYC or London are also man-made cities like S’pore yet their financial & investment activities are many billion dollars more than S’pore. Both only have only Mayors who weren’t paid like S’pore govt Ministers. What have you got to say?

    Don’t rock the boat: The difference is because of our size. Our economy is man-made; nothing comes naturally.

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  • Financially Speaking:

    @ Don’t rock the boat:
    Ha-ha-ha! In 2017, there was talk about China’s cashless system during the 2017 ND Rally event & about S’pore emulating them.

    Sadly, what was never said was this was a good 7 years after China had launched their cashless system in 2010. Far-sighted? Ha-ha-ha!

    Now it is 2020 but we’re still only at the Digital Bank licensing stage! And the cashless system for S’pore are still far away!

    Your narratives about far-sighted and capable people sounds very ridiculous.

    Have you ever been to China? US Giant Walmart opened many Supermarket outlets in China’s cities but can’t even be bothered to open one in S’pore.

    Don’t rock the boat: And we need to have very farsighted and capable people to keep transforming our economy in order to keep Singapore going and create opportunities for Singaporeans.

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  • Don’t rock the boat:

    @ praying that you are old
    (((((But all the economic committees that PAP has convened over the years proposed nothing innovative))))))
    Nothing new?
    Do you know that the early stage of our industrialisation was garment manufacturing, assembly of transistor radios and low-end products?
    Along the way we kept transforming our economy to the sophisticated industries of today. This system had been feeding millions of people for the last half of the century.

    (((((If oppies just take over the auto-pilot governance of the day,all will still be the same,but less costly))))))
    The danger lies here. People like you have been taught that all the businesses are here naturally and permanently.
    If our economy can be on auto-pilot by just signing deals and trading pieces then Singapore will never fail. Is it so simple?
    Look at this.
    Now we don’t want all the foreigners who are here to help us. When investors can’t find enough workers, they have to locate elsewhere.
    What will happen to us?????
    Now apply your innovative ideas to create jobs and opportunities for Singaporeans.
    3-year-old kids will tell you that we will collapse.

    Without foreigners here, whether CECA or other nationals to help us, many businesses won’t be here, many good jobs won’t be here. Singaporeans will have lesser job and business opportunities.
    And worse still, with our 1.14 birth rate, we will be heading for a permanent decline.

    ((((So this is fear monger with no substance?)))))

    Singaporeans are wise they understand the importance of political stability. Without political stability this place would have never worked so well. That is why they keep voting for the same government.

    Let’s treasure it.

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  • Don’t rock the boat:

    @ Financially speaking
    You’re just an apologist for the S’pore Ministers. How much are they paying you for your pathetic PR spin?
    A peanut economy like S’pore paying top money for a economy which is much less than the State of California, not even close to top financial centres like NYC or even London.
    What are you smoking? NYC or London are also man-made cities like S’pore yet their financial & investment activities are many billion dollars more than S’pore. Both only have only Mayors who weren’t paid like S’pore govt Ministers. What have you got to say?
    //////////////////////////
    NYC & London are big ships; we are just a sampan.
    US & England are big enough to grow their own food for self-sufficiency and they have their own domestic market to support.They have abundance of natural resources.
    We are only 700sq km .US & England how many times they are bigger than us in land area ?
    If we are like US or London then they are over paid.
    But opportunities have to be created here, they are not over paid.

    If we fail we only have NEWWATER to drink.

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  • oxygen:

    @ Don’t rock the boat

    YOUR FACILE ASSERTION BELOW SHOUTS THE LOUDEST of your obvious ignorance or escapism to fiction or both.

    Why? Read on.

    Don’t rock the boat: Our gdp in year 2000 is 95.83 usd billion
    https://www.google.com.sg/search?q=singapore+gdp+in+year+2000&ie=UTF-8&oe=UTF-8&hl=en-sg&client=safari
    In year 2018 our 2018 our gdp is 364 usd billion.

    No achievements?

    Your common currency base of comparison is US DOLLAR denominator. In year 2000, the USD, measured on DXY currency basket measure, is 120. Now it is 97.

    Straight away, you must know that you need to discount the US dollar “devaluation” of its purchasing power by 23% BUT YOU DID NOT in this comparison. Ignorance or deliberate deception of peasant readers? YOU KNOW YOURSELF.

    If you did the aforementioned adjustment from the same currency purchasing power, our GDP 2018 should be around US$295 billion. THAT WORKS OUT TO BE AN AVERAGE GROWTH OF 17.2% GDP PER YEAR.

    WOW, THAT MUST BE THE FASTEST ECONOMIC GROWTH IN THE WORLD FOR 18 YEARS DESPITE THE SETBACK OF 2009 GFC.

    MIRACLE ECONOMY?

    The last I check of Singapore GDP growth rate is between -ve 2.5% (GFC) to positive 2.5% range post GFC.

    YOUR BOASTFUL NUMBERS DON’T ADD UP OF FAILED ILLUMINATION.

    THAT MAKES YOUR STATISTICS LIES OF YOUR FALSE INTERPRETATION.

    WHAT WENT WRONG??

    I don’t expect you to understand the subtleties of @ Financially speaking comment below. HE IS TOO CHIM FOR YOUR COMPREHENSION.

    Financially Speaking: “All the tall buildings are all occupied” syndrome aren’t backed by real business demand but by excessive monetary expansion activities

    An economy can be pumped up by infrastructural spending relying on debt, taxation, or reserves to look good BUT IT IS UNSUSTAINABLE. @Financially speaking is correct.

    In any case, the world DID NOT STOPPED for the last 18 years, any parasite economy is like maggots feeding on the carcass of a dead global economy.

    oxygen: POST GFC, AND MORE THAN 10 YEARS ON, the world is swimming in oceans of MASSIVE ESCALATION OF debt in EVERY MAJOR ECONOMY.

    FEEDING ON A DEAD GLOBAL GLOBAL IS NOT ACHIEVEMENT.

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  • oxygen:

    Ooop, typo error there, sorry

    oxygen: FEEDING ON A DEAD GLOBAL GLOBAL IS NOT ACHIEVEMENT.

    The comment above should be read as

    oxygen: FEEDING ON A DEAD GLOBAL ECONOMY IS NOT ACHIEVEMENT.

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  • oxygen:

    @ Don’t rock the boat

    YOU ARE A DEVIL of lies bluffing through your an*s. You shift your reference point from NYC and London to US & England.

    Don’t rock the boat: NYC & London are big ships; we are just a sampan.
    US & England are big enough to grow their own food for self-sufficiency and they have their own domestic market to support.

    Where is my proof?

    Don’t rock the boat: They have abundance of natural resources

    DO YOU MEAN NYC AND LONDON got big natural resources?

    Or do you mean US and England (???) got big natural resources?

    US is MUCH BIGGER than NYC and England is much bigger than London, you must be stupid not to know this or a complete liar unlimited.

    DOES RIO TINTO, BHP, GLENCORE etc mine for gold, copper, zinc, or drill for oil and natural gas in NYC or London?

    I bought mining shares anywhere they operates of natural resources extraction, but never heard of natural resources extraction either in NYC or London currently or in mining history over centuries.

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  • oxygen:

    @ Dont rock the boat

    YOU LIED WHOLESALE in just ONE PARAGRAPH OF FACILE NARRATIVE.

    Don’t rock the boat: NYC & London are big ships; we are just a sampan.
    US & England are big enough to grow their own food for self-sufficiency and they have their own domestic market to support.They have abundance of natural resources.

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  • Financially Speaking:

    @ Don’t rock the boat:
    C’mon! There are many here in TRE who already knows that GDP isn’t a good measure of economic achievements. You need to take the GDP figure with a host of other economic statistics to form a better picture.

    For one, you’re quoting the nominal GDP figures, not the real GDP numbers. Even post-secondary school students studying economics knows that!

    Nominal GDP Growth, for S’pore’s case, is explained by S’pore high inflation rates & escalating consumer prices.

    A simple analogy is your humble bowl of fish ball noodles from your neighbourhood Hawker. In year 2000, a bowl of fish ball noodles can be purchased for SG$2.00 at a Hawker Centre. In 2018, the same bowl of fish ball noodles costs SG$5.00 at a Food Court (The rise of Food Court Operators taking over Hawker Centres – part of S’pore’s Crony Capitalism).

    The simple inflation factor between 2000 to 2018 is 2.5x. USD 95.83 Bn (Year 2000 GDP) x 2.5= USD 239.58 Bn.

    The difference of the additional USD 124.42 Bn was partly explained by the depreciating Forex of the USD. In year 2000, USD to SGD Forex was USD 1.00:SGD 1.80. in year 2018, it is USD 1.00: SGD 1.35 – a 34% decline in value of the USD. So USD 239.58 Bn x 34% appreciation of SGD = USD 321.04 Bn.

    Now the (Real GDP Growth) difference between 2000 & 2018 is only USD 42.96 billion. Over a period of 18 years, S’pore’s real GDP growth rate is only a measly 2.4% pa.

    When we compared to China’s GDP double-digit growth rates, S’pore’s growth in the past 18 years was pathetic! Even our regional neighbours were getting +6% pa GDP growth!

    And you called that achievement?

    Don’t rock the boat: Our gdp in year 2000 is 95.83 usd billion
    https://www.google.com.sg/search?q=singapore+gdp+in+year+2000&ie=UTF-8&oe=UTF-8&hl=en-sg&client=safari
    In year 2018 our 2018 our gdp is 364 usd billion.

    No achievements?

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  • Financially Speaking:

    @ Don’t rock the boat:
    And S’pore Sampan need highly paid captains to guide the rudimentary boats?

    Don’t rock the boat: NYC & London are big ships; we are just a sampan.

    NYC (Manhattan) & London (City of London, Canary Wharf) are probably covering the same geographical area as Raffles Place & Marina Bay area.

    Yet the value churned out over in Manhattan or Canary Wharf exceeds Raffles Place & Marina Bay areas. It should be, They are underpaid & not over paid as you wrongly claimed.
    And they also create opportunities out of nothing like S’pore – Your arguments makes no sense at all!

    Don’t rock the boat: We are only 700sq km .US & England how many times they are bigger than us in land area ?
    If we are like US or London then they are over paid.
    But opportunities have to be created here, they are not over paid.

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  • @ praying that you are old:

    @Don’t rock the boat

    Nothing new?
    Do you know that the early stage of our industrialization was garment manufacturing, assembly of transistor radios and low-end products?
    Along the way we kept transforming our economy to the sophisticated industries of today. This system had been feeding millions of people for the last half of the century.

    > Alright I am sry. I shld be more specific. The economic context in the initial years of Sg in its 50+ years (say, first 20 years or so) with your aforementioned economic strategy was ok, and that I acknowledge. However, you cheekily bundle up the recent 20 years with SG as a whole to say we are still transforming our economy for the better and push the narrative that all is still well, when it really isn’t.

    The danger lies here. People like you have been taught that all the businesses are here naturally and permanently.
    If our economy can be on auto-pilot by just signing deals and trading pieces then Singapore will never fail. Is it so simple?
    Look at this.
    Now we don’t want all the foreigners who are here to help us. When investors can’t find enough workers, they have to locate elsewhere.
    What will happen to us?????
    Now apply your innovative ideas to create jobs and opportunities for Singaporeans.
    3-year-old kids will tell you that we will collapse.

    Without foreigners here, whether CECA or other nationals to help us, many businesses won’t be here, many good jobs won’t be here. Singaporeans will have lesser job and business opportunities.
    And worse still, with our 1.14 birth rate, we will be heading for a permanent decline.

    > Alright I will bite to enhance this discussion. I am here for the most accurate version of the truth after all.
    > If not trading pieces and signing deals then what? Please share more, as I will like to see more than the 1965 propaganda you have been sprouting to the other readers that clearly isn’t holding any water.
    > So, a 1.14 birth rate that renders our workforce as a whole competitively lousy, requiring ‘foreigners’ to enhance it to keep the economic engine going, whatever the origins of these foreigners? Do leave the foreign workers out of this discussion as their contributions are recognized. I am more interested in the middle group where the majority of the jobs are and are mainly accessible to the main populace.
    > How has CECA helped us?

    Singaporeans are wise they understand the importance of political stability. Without political stability this place would have never worked so well. That is why they keep voting for the same government.

    Let’s treasure it.

    > Define political stability and how in the local context this can be achieve, and whether your suggested method is the only way to do it. You are pandering to a couple…

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  • Financially Speaking:

    @ Don’t rock the boat:
    But where is S’pore in the present day technological ladder?

    Have S’pore really transformed like you claimed or are we still stuck somewhere inbetween? Nowhere into the future yet still held back by past beliefs!

    Your Narrative are full of holes!

    Don’t rock the boat: Nothing new?
    Do you know that the early stage of our industrialisation was garment manufacturing, assembly of transistor radios and low-end products?
    Along the way we kept transforming our economy to the sophisticated industries of today. This system had been feeding millions of people for the last half of the century.

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  • hydroponic fruits and vege:

    //NYC & London are big ships; we are just a sampan.
    US & England are big enough to grow their own food for self-sufficiency and they have their own domestic market to support.They have abundance of natural resources.//

    what sampan lar ? our sampan can accommodate 6.9m or 10m open-leg population lar ? maybe 6.9m or 10m open-leg population can magically produce more natural resources like our lokang water and grow more “”cheaper”" hydroponic fruits and vege by doing it in build up less “”"expensive”"” 100-storey buildings lor ????

    what domestic market lar ? attracting hot money to help finance our land scare sinkie land in real estate and get it circulated (multiplier effect) while at the same time making things more expensive for the average daft sinkies (importing the purchasing money of hot money and filthy rich ????) ?????

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  • hydroponic fruits and vege:

    //NYC & London are big ships; we are just a sampan.
    US & England are big enough to grow their own food for self-sufficiency and they have their own domestic market to support.They have abundance of natural resources.//

    what sampan lar ? our sampan can accommodate 6.9m or 10m open-leg population lar ? maybe 6.9m or 10m open-leg population can magically produce more natural resources like our lokang water and grow more “”cheaper”” hydroponic fruits and vege by doing it in build up less “””expensive””” 100-storey buildings lor ????

    what domestic market lar ? attracting hot money to help finance our land scare sinkie land in real estate and get it circulated (multiplier effect) while at the same time making things more expensive for the average daft sinkies (importing the purchasing power of hot money and filthy rich ????) ?????

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  • the welcoming celebration:

    //Where are we going to find jobs?//

    yar lor, as long as we are not replace by 6.9m or 10m open-leg policy lor ?

    //Go to our neighbouring countries?
    Are there jobs for us?Are we welcome? Can we earn what we’re earning now?//

    yar lor ? so we welcome many chat-ba-lang people from neighbouring countries to create jobs for sinkies (not for themselves ?) as one white monkey idiot has said (as in FTs create jobs for sinkies ???) ???????? and why the welcoming celebration is not reciprocated by other countries ???? maybe other countries are smarter (knowing how to export their job / employment problems) but “not so smart enough” like sinkie land to have open-leg policy posing employment threats to their own citizens ??

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  • "regularly rocking" the boat:

    //Don’t rock the boat:
    January 26, 2020 at 4:52 pm (Quote)//

    aiyoh, do you mean not to rock the boat for the white monkey idiots and gang as they want a stable boat for their ownself-check-ownself one party curry function ??

    BUT the white monkey idiots are “regularly rocking” the boat for daft sinkies with policy changes leh – worst now with even more people via 6.9m or 10m open-leg policy are in the same congested boat leh ????

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  • Sojoürner of Truth:

    Don’t rock the boat: White elephant?
    Just go look around the whole of Singapore. All the tall buildings are all occupied.
    It’s very amazing how this government and Singaporeans are able to attract so many businesses to here.

    @ Don’t rock the boat:

    Contrary to your naive theory, the well-documented high incomes of city centres do not necessarily reflect high efficiency in production. They may reflect high efficiency in rent-seeking. Naturally they are a bit shy on S’pore Sampan becoming more and more closely tied to a sinking ship.

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  • Don’t rock the boat:

    @Financially Speaking:
    And S’pore Sampan need highly paid captains to guide the rudimentary boats?
    Don’t rock the boat: NYC & London are big ships; we are just a sampan.
    NYC (Manhattan) & London (City of London, Canary Wharf) are probably covering the same geographical area as Raffles Place & Marina Bay area.
    Yet the value churned out over in Manhattan or Canary Wharf exceeds Raffles Place & Marina Bay areas. It should be, They are underpaid & not over paid as you wrongly claimed.
    And they also create opportunities out of nothing like S’pore – Your arguments makes no sense at all!
    ///////////////////////////////
    Put it in another perspective.
    We started from zero, from nothing.
    40 over years ago SGD is on par with ringgit.
    Today 1 SGD is to 3 Ringgit. And not only higher than Ringgit but other currencies as well. Our economy keeps growing.
    Why?
    All this are extraordinary efforts put in by very responsible people who make this place work for the benefit of Singaporeans.
    Now we don’t need to say so much. If our government is voted out overnight, our confidence will be lost.

    LKY reminds us,
    “If you take the confidence away see how much your four rooms flat are worth ”

    Most of the time, when big countries with ample resources change government, it won’t affect their confidence.
    Definitely not so for Singapore.
    So definitely underpaid.

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  • Sojoürner of Truth:

    Don’t rock the boat: 40 over years ago SGD is on par with ringgit.
    Today 1 SGD is to 3 Ringgit. And not only higher than Ringgit but other currencies as well. Our economy keeps growing.
    Why?

    A clever piece of sophistry, this: “40 over years ago SGD is on par with ringgit. Today 1 SGD is to 3 Ringgit.”
    Why a cup of Kopi also increased 160% from $0.40 to $1.20?

    This entire column is gobbledygook, that is to say, a lot of intellectual posturing, arriving at the same pathetically weak and tiresome, essentially insupportable, point. Who are you trying to kid? The difference between the economy today, and the economy in 1980 is financial “air.”

    People are frightened and insecure about two things: inability to pay for health care, and inability to survive financially after retirement. Wouldn’t people feel a lot more confident and secure if they can get a job?
    It’s that simple.

    Your simplistic attempt at an apologia is simply another example of people in responsible positions sleeping through Econ. 101. There wasn’t a blind faith in the market as you posit. There was distorted, selectively distributed information, chicanery, self serving, and stupidity.

    This is just smart government policy that will be like putting capitalism on steroids–since, to tie it back to your theme, would inspire the confidence we all agree is lacking right now.

    You want Singaporeans to have confidence?
    It is a simple equation: money + greed = disaster

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  • Don't rock the upper-deck!:

    This creature of contingency which is falling head over heels in defiant defence of a corrupted elitism is simplistically the epitome of bigoted solipsistic reasoning – which rightly educated sheeple cannot accept owing to the fallacies in its cause-effect attributions and its logical faultlines.

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  • oxygen:

    @ Don’t rock the boat

    ANOTHER PARAGRAPH OF FACILE NARRATIVE below of empty rhetoric and display of ignorance.

    Why? Read on.

    Don’t rock the boat: Put it in another perspective.
    We started from zero, from nothing.
    40 over years ago SGD is on par with ringgit.
    Today 1 SGD is to 3 Ringgit. And not only higher than Ringgit but other currencies as well. Our economy keeps growing.

    Forty years ago, the Sterling Pound was 1 pound equal S$8.25, now it is a fraction of that. The USD, the same. One A$ was S$2.96 now S$0.91, does that mean our economy booming, UK, USA, Australia sinking?

    Remember these page of economic history. Nearly 50 yrs ago..

    https://www.mitonoptimal.com/news/2018/the-dollar-is-our-currency-but-it-is-your-problem-john-connolly-us-secretary-to-the-treasury-1971/

    and then 35 yrs ago, the Plaza accord.

    https://www.japantimes.co.jp/news/2015/09/22/national/history/30-years-plaza-accord-nations-currency-goals-evolve/#.XjDSPU8zbow

    UK,USA, Australia were all desperate to move their exchange rate lower to be globally competititive.

    Asian currencies were over-valued particularly Japan. The 30 yr bull market for bond is over. Asian economies were caught with over-extended borrowing on “cheaper” interest rate in USD – hence the Asian currency crisis.

    Won, Rupiah, Baht, Ringgit were caught particularly bad and each govt were forced to save either their banks or the corporate.

    It is their misfortune, we haven’t been tested yet. STRONG CURRENCY IS POISON OF NON-COMPETITIVENESS AND PROMOTED ASSET BUBBLES WHICH WE CAN EXTRICATE OURSELVES FROM.

    CPF AND HDB ARE FAILED WHITE ELEPHANTS – NO ESCAPE ROUTE FOR US.

    It is not clever economics BUT STUPID ECONOMICS.

    WE NOT NOT CLEVER OF CURRENCY OR ECONOMY BECAUSE SOMEONE ELSE IS “STUPID” IN YOUR IMAGINATION.

    jOHN CONALLY AND PLAZA ACCORD IS SMART ECONOMICS.

    You idiot.

    WE DEPEND NOW ON IMPORTING 3RD WORLD LABOUR TO RUN THE PRETENTIOUS FIRST WORLD ECONOMY – IT IS UNSUSTAINABLE.

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  • oxygen:

    Ooop typo error there, sorry

    oxygen: It is their misfortune, we haven’t been tested yet. STRONG CURRENCY IS POISON OF NON-COMPETITIVENESS AND PROMOTED ASSET BUBBLES WHICH WE CAN EXTRICATE OURSELVES FROM.

    shold be read as

    oxygen: It is their misfortune, we haven’t been tested yet. STRONG CURRENCY IS POISON OF NON-COMPETITIVENESS AND PROMOTED ASSET BUBBLES WHICH WE CANNOT EXTRICATE OURSELVES FROM.

    THAT IS WE ARE STUCK OF SELF-ENTRAPMENT.

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  • labour cost & opportunities:

    //Today 1 SGD is to 3 Ringgit. And not only higher than Ringgit but other currencies as well. Our economy keeps growing.//

    so what lar ? economics, tok about PPP lar ? sgd so strong hor, yet must import many things (food, fruits and labour also) from them hor and can you export much to them ?

    sgd strong, the reason why many of them are to arbitrage away labour cost & opportunities at the expense (resultant) of daft sinkies lar ? good enough for white idiots and gang to say (propagate) that daft sinkies are lazy, choosy and not talented enough for their 6.9m or 10m open-leg policy ???

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  • oxygen:

    @ Don’t rock the boat

    REAL DUMB ECONOMIC NARRATIVE – you are pretending that, even by doing nothing, we are still 3X or thereabout better off in relative ringgit purchasing power terms over 40 years wait in currency conversion of hedging.

    Don’t rock the boat: We started from zero, from nothing.
    40 over years ago SGD is on par with ringgit.
    Today 1 SGD is to 3 Ringgit.

    Why don’t you tell us that, by the same dumb logic, you are better off buying gold (then pegged at US$35 per ounce) by a factor of 45X (spot gold is US$1575 today) of hedging bet?

    PLEASE, LET NO ONE GOES OUT TO BUY GOLD TODAY – IT IS NOT MY INVESTMENT ADVICE – EVEN THOUGH I BOUGHT GOLD SHARES FOR 45 YEARS.

    Strong currency strategy is only good when you make it “someone’s else problem” – just like John Conolly did.

    IT BECOMES STUPID ECONOMICS WHEN YOUR STRONG CURRENCY BECOMES YOUR OWN PROBLEM TO SOMEONE’S OR EVERY OTHER COMPETITOR’S ADVANTAGE.

    With this coronasvirus spreading, can we afford the congestion risks of epidemic spreading of infection of 10 million people living on this little rock – forget about the dumb economics of asset bubbles and the world most expensive living standards to cope for ALL 10 MILLION PEOPLE, PLENTY OF THEM JOBLESS, UNDER EMPLOYED AND served by more imports of cheap third world wages in service roles just to delay the sinking of this TITANIC a little bit longer.

    With strong S$, we invest abroad BUT LOSING MONEY LIKE DRUNKARDS SAILORS IN A CASINO OR A BROTHEL.

    BUT THE INHABITANTS – it is asset bubbles, PAPpypolitics and PAPpynomics only tells U the truth that HDB, paid for by CPF, is A BUBBLE VAPORIZE TO ZERO AFTER THE PROMISOR (OF FOREVER GROWING WEALTH IN PROPERTY) PAST TENSE GONE TO TERN SUA.

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  • oxygen:

    @ Don’t rock the boat

    PLEASE READ THE DENUNCIATION OF @ Sojoürner of Truth below and explain your stance ALONG WITH MY PRECEDING POST COMMENTS.

    Sojoürner of Truth: A clever piece of sophistry, this: “40 over years ago SGD is on par with ringgit. Today 1 SGD is to 3 Ringgit…………….This entire column is gobbledygook, that is to say, a lot of intellectual posturing, arriving at the same pathetically weak and tiresome, essentially insupportable, point. Who are you trying to kid? The difference between the economy today, and the economy in 1980 is financial “air.”

    Hot air indeed, I add on here of your “sophistry” emptiness.

    Don’t rock the boat: Our gdp in year 2000 is 95.83 usd billion
    https://www.google.com.sg/search?q=singapore+gdp+in+year+2000&ie=UTF-8&oe=UTF-8&hl=en-sg&client=safari
    In year 2018 our 2018 our gdp is 364 usd billion.

    No achievements?

    By your numbers, our GDP grew by 3.8X over 18 years. If GDP wealth is accumulated of “achievement” of your claim AT THIS PHENOMENAL RATE, HOW COME THE AVERAGE 5-RM HDB COSTING s$300k IN 2000 AT LEAST DOES NOT ESCALATE BY THE SAME APPROXIMATE VALUE TO $1.14 MILLION by 2018 of same ratio calculus INSTEAD OF VAPORIZE TO NOTHING IN 82 years thereafter??

    HOW MANY PERCENT OF THE 5 RM HDB IS VALUED OVER A MILLION TO TODAY?

    IT IS YOUR POPPYCOCK!!

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  • dental treatment at pegu road:

    //Now we don’t need to say so much. If our government is voted out overnight, our confidence will be lost.

    LKY reminds us,
    “If you take the confidence away see how much your four rooms flat are worth ”//

    aiyoh ? don’t keep on falling back on ah kong lar ? ah kong is no longer here to keep on feeding you with milk of confidence lar ? ah kong’s time, plenty of confidence as public housing was priced at 100k or lesser for big units lar and when char kuay teow was priced @ $1.00 and you could bring along your own eggs for the vendor to fry lar ? and ah kong time, dental treatment at pegu road was only $0.50 (50 cents) per treatment lar ?

    fast forward now, outside ah kong time, plenty of talented white idiots are devising ways to “rent-seek” you lar in the name of some righteous purposes BUT effectively and more to finance the “welfare” of the white idiots and gang lar ???????

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  • Financially Speaking:

    @ Don’t rock the boat:
    Your Narrative is totally wrong & misleading! Only simple minds would believe such nonsense & end up buying S’pore properties!

    The explanation is relatively simple! And will end up destroying your totally wrong arguments which is full of dangerous financial facts leading to Malinvestments

    Most of the world’s currencies are on a trade weighted basis meaning that their currency’s free float were being managed by their balance of trade accounts.

    Global economies who are reliant on trading, manufacturing, primary industries or resource extraction have to manage between their exports & their imports hence the strengths & weakness of their currencies depict their currency values.

    A weaker currency is beneficial to trade weighted economies as it would mean more exports from a weaker currency value while restricting imports to preserve a healthy balance of payments mechanism. And that is the Mercantilist Global Economy we have today.

    On the other hand, a selected band of economies especially Financial Centres have their currencies based on a Specific Investment Value ie. either pegged to the US$ (HK$), € (Swiss Fr) or on a Stable Exchange Rate Policy (SG$).

    But the hidden implications are to link up with the US$ Reserve Currency Status & the Globalisation benefits. Hence these ‘Investment-weighted’ currencies have risen faster than trade weighted counterparts.

    Hence the 1:3 relationship between the SG$ & RM. The M’sian Economy is basically a Global Oil & Gas Exporter along with Palm Oil, Food exports. M’sia is in fact a relatively wealthy economy despite their weak Ringgit.

    On the other hand, Finance & Investments has overtaken Trade & Manufacturing as the leading driver of the Global Economy! S’pore simply is a beneficiary of the Global mechanism shifting to zero-sum Financial Activities. But trade & manufacturing activities enhance economic growth whereas Financial Activities don’t!

    And an ‘Investment-weighted’ currency isn’t a sign of strength. It is simply being tied to a inflated & overvalued currency which is the US$ value.

    Our economy grew by the number of successive US$ QEs. That speaks loudly!

    Don’t rock the boat: Put it in another perspective.
    We started from zero, from nothing.
    40 over years ago SGD is on par with ringgit.
    Today 1 SGD is to 3 Ringgit. And not only higher than Ringgit but other currencies as well. Our economy keeps growing.
    Why?

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  • Financially Speaking:

    @ Don’t rock the boat:
    Comparison to M’sia’s weak RM is relatively an ingenious argument which makes S’pore look good but holds no water.

    In fact, it is a rather stupid argument if one steps into M’sia & explore their economy.
    Actually, M’sia is a rather far wealthier economy in terms of mass prosperity than S’pore.

    The Big-Ticket items eg. housing & cars are more affordable than S’pore’s rentier economy. On a PPP basis, M’sians lived a more comfortable & fulfilling lives than S’poreans who have to work gruelling hours & pay the S’pore Premium to maintain an expensive govt.

    The Cost of Living is so much less than S’pore’s because they have a Strong Agricultural base, a thriving food processing industry which builds upon their key Palm Oil Industry which is a basic essential in the Global Oils & Fats category.

    All processed foods, cosmetics & Industrial production used Fats & Oils in their production process. And Palm Oil is the lowest cost commodity in the Global Oil & Fats category.

    Statements from ‘Don’t rock the boat’ make majority of S’poreans arrogant & full of hubris. They think that they’re on top of the food chain when they’re not!

    And harping on past economic achievements are ridiculous when our regional neighbours are going past us on the fast lane leaving S’pore behind.

    S’pore’s leadership forever imploring voters to ‘trust’ them & not to ‘rock the boat’. But what do you have to offer to us? Paying the S’pore Premium but living considerably poorer lives going forward?

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  • easier on the future generatio:

    //If you take the confidence away see how much your four rooms flat are worth//

    aiyoh ? would rather that it is priced reasonable or low leh and worth reasonable or low leh (hence affordable for genuine living and not for speculating / inflating upward (buy and sell to make profit) – and leaving more for retirement rather than a wealth transfer from private to white idiotic garment institutions ???

    orelse, it gives the white idiots the excuse to price it at “market rate” while they control both SUPPLY (timing of land sales / approvals to build and minimum reserved land price ???) and DEMAND (the degree of how open-leg the white monkey idiots want their open-leg policy ?) ?

    pricing low and less / worth less is also easier on the future generations as it means affordable housing prices for them ?

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  • Sojoürner of Truth:

    @ Don’t rock the boat

    While the Singaporean and Malaysian currencies stood on par with each other in both countries until around 1980, this changed later. Over the next 37 years or so, the two currencies have fallen off the track poorly and now the Singapore dollar is worth more than three times as much. The first and most important argument–apart from a very short period of time, neither the MYR nor the SGD was a floating exchange rate. Especially for the MYR, there were only two free float cycles between the fall of the Bretton Woods regime and the depeg in 2005.

    The first was the original fall, which was quickly followed by an additional fix to the GBP, and then to the USD. There was some work in the 1970s on the same peg process, but the fact remains that the MYR was never under a free float. The second was in 1997-1998, between the abandonment of the USD peg by BNM and the reemergence in September 1998. The SGD, on the other side, has never been a free float.

    In 1985, the situation changed. On 22 September 1985, five OECD countries met privately at the Plaza Hotel in New York and agreed among themselves, without informing other nations, that the yen and the German mark should be substantially strengthened against the US dollar by market intervention. It’s known as the Plaza Accord. The Plaza Accord was historic because it was the first time that central bankers agreed to intervene in the currency market in such a large way and the first time in history that governments set target foreign exchange rates to be achieved through active intervention.

    I would also note that, at some point in the 1980s, and it is not certain when precisely this occurred, Singapore moved from a pure level peg against the NEER to an appreciative one.
    For specifics of the framework:

    http://www.mas.gov.sg/~/media/MAS/Monetary%20Policy%20and%20Economics/Monetary%20Policy/MP%20Framework/Singapores%20Exchange%20Ratebased%20Monetary%20Policy.pdf

    What this implies is that, over time, the SGD will be forced to follow a steady course of strengthening against the currencies of its trading partners. If you look at the level of the foreign reserves of the MAS, it is quite evident that for most of the last 3 decades, the MAS has been doing its utmost to slow down the appreciation of the SGD (mainly because of Singapore’s position as a tax haven, which has attracted continuous capital inflows) and this explains much of the “success” of the SGD against the MYR (and, by the way, against everyone else) since the Asian financial crisis.

    It is NOT linked to disparities in economic performance, composition or policy. It’s because appreciation was a deliberate policy choice and policy objective for the Singaporean authorities.

    -cont’d

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  • Sojoürner of Truth:

    Cont’d..

    Obviously, under such different policy conditions, the SGD would have steadily risen against the MYR irrespective of the results of either economy.

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  • Don’t rock the boat:

    @Sojourner of truth

    It is NOT linked to disparities in economic performance, composition or policy. It’s because appreciation was a deliberate policy choice and policy objective for the Singaporean authorities.
    ///////////////////////

    If our economy is not probably managed and our Budget instead of surplus we have deficit every year, and if we keep changing government every 4 or 5 years, we would not be able to build up our strong reserves.

    Can our dollar still be so strong??

    And also because we have very wise citizens who understand the importance of political stability and treasures political stability by voting for the same government. Without political stability, investors will not invest when there is political risk or policies risk.

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  • Don’t rock the boat:

    Correction
    If our economy is not properly managed

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  • oxygen:

    @ Don’t rock the boat

    IT IS YOUR PRETENTIOUS FACILE NARRATIVE AGAIN, have you read this NOT DENIED in officialdom?

    A Banking Star’s Inconvenient Singaporean Truth

    https://www.asiasentinel.com/econ-business/a-banking-stars-inconvenient-singaporean-truth/

    Don’t rock the boat: Correction
    If our economy is not properly managed

    and this?

    Miner BHP settles 15-year tax dispute with Australian authorities

    https://www.worldfinance.com/wealth-management/miner-bhp-settles-15-year-tax-dispute-with-australian-authorities

    Wuhan virus: Outbreak expected to impact Singapore economy but support measures ready, says Chan Chun Sing

    https://www.straitstimes.com/singapore/wuhan-virus-outbreak-expected-to-impact-singapore-economy-but-support-measures-ready-says

    IT PROVES WE GOT NO STRONG DOMESTIC ECONOMIC PILLAR – all rent-seeking tax haven, money laundering and generally parasitic of living on the growth of regional economy – WHEN CHINA SNEEZES OR FARTS, WE ARE SHAKEN.

    AND RECENT EN BLOC of condo – only limited portions offered for launching – ONLY ATTRACTED 30% BOOKING RATE. Those gung ho buyers all MATI.

    Properly-managed economy, you call this??

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  • a propagated narrative:

    //If our economy is not probably managed and our Budget instead of surplus we have deficit every year,//

    what deficit and surplus lar ? not asking for irresponsible deficit lar ? and not asking too much surplus (e.g too much rent-seeking which is effectively a transfer from private to state coffer which indirectly rewards ownself check ownself more kaki langs lar) ? aiyoh, you cannot see it meh (cue : highest paid ministars ?) ????

    economy not so good, still want to increase GeeSTee ??? who will get hit worst (the lower / no income people or top percentile ??) ??

    //and if we keep changing government every 4 or 5 years, we would not be able to build up our strong reserves.//

    aiyoh, so since it is already more than 50+ years (many cycles of 4-5 years), does it mean that it is due for good change and spring cleaning ?

    //Can our dollar still be so strong??//

    why not lar ? many first world countries have maintained strong currencies relative to the changes of their garments ?

    //And also because we have very wise citizens who understand the importance of political stability and treasures political stability by voting for the same government. Without political stability, investors will not invest when there is political risk or policies risk.//

    who does not want political stability ? unless it is a basket case, businesses FDIs will still go to countries which give them the ‘best’ business propositions (e.g costs, space, infrastructure, labour force with the right skills (may not need to super high tech skills), etc all put togethers) ????

    we have wise citizens ? you should PORMAR yourself lar ? we have 151th standard of 4 = 5 and selected = elected and ‘fixing oppo’ to ‘ensure’ a propagated narrative that we have wise citizens who vote for same garment in white idiots lar ???

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  • The claims they make:

    Don’t rock the boat?

    If the boat is not no longer wanted by us, we wont be rocking the stupid boat !

    Cronies of course love the boat. Thats their choice and this is ours. Get it !

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  • the last bastion:

    //Properly-managed economy, you call this??//

    haha. yet some white idiots and gang say that we do not have this and that (natural resources) yet can jam up the place (via 6.9m or 10m open-leg policy) until it becomes an expensive rentier economy (e.g real estate to find support in a more wealthier class imported from chat-ba-lang countries & rent-seeking policies ????) when high costs even start in eat into even secondary industries (sinkie land has none / close to zero primary industry) e.g resulting in relocation.

    Now service industry (now carrying the rentier costs transferred to them) is the last bastion ???

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