What is wrong with Singapore

Singapore is a rich country but the people are poor.

Well certainly not the elites but ordinary citizens are relatively poor compared to how rich the country has become.

Why is that?

The Nikkei analysis linked below provides us with an excellent summary of much that ails Singapore. This Nikkei article sets out several policy failures of the PAP Government that have caused several inter-connected problems in Singapore.

This is a standout read that delineates the systemic nature of the problems in Singapore that needs to be addressed. This analysis exposes the PAP Government’s inadequacies.

The PAP is now the longest remaining governing incumbent party in Southeast Asia that is mortally locked in the past unable or unwilling to embrace an alternative and better future for Singapore.

This analysis identifies the ideological basis of the PAP Government’s policies as “shareholder capitalism”; where the State must always profit over its citizens at the end of the day. Neoliberalism or “trickle down economics”. Unbridled state capitalism and greed.

In describing Singapore’s economic model, the Nikkei article states this:

“The economic model, which began as a mixture of socialist nationalism and paternalistic authoritarianism, before veering toward Thatcherite shareholder capitalism in the 1990s, has been much mythologized by free marketeers and aspiring autocrats worldwide.”

In other words, Singapore is run like a company and the Government makes money from its citizens instead of working for the welfare of its citizens.

Yeoh Lam Keong Singapore’s preeminent economist was quoted in the Nikkei article explaining the PAP ideology as it applies to HDB pricing policy in the following terms:

“The roots of Singapore’s current problems, Yeoh believes, were planted in the 1990s, when its politics lurched rightward. In line with the prevailing neoliberal thinking, the government moved toward a more market-based approach to the pricing and ownership of HDB flats.”

What we have is a systemic failure and we need to recalibrate the balance between unbridled capitalism and the welfare state or socialism; between profits and people.

Our policy frameworks transfers control of economic factors from the private sector and individuals to the public sector creating the imbalance that need to be fixed.

The PAP Government is a prisoner of its own failed policies and unless we vote for a more compassionate Government in place instead of the PAP Government, things will get from bad to worse for the ordinary citizen.

 

Khush Chopra

 

 

yyy
SPONSORED ADVERTISEMENT
Loading...

12 Responses to “What is wrong with Singapore”

  • Asd:

    Slavery

    GD Star Rating
    loading...
  • A Psychology of Megalomania:

    The political angst of emotional decrepits: the fear of losing their millions, and loathing anyone who would dare expose the truth.

    GD Star Rating
    loading...
  • opposition dude:

    Tell the above to the damn kiasees and see how many of them will vote opposition.

    As long as these kiasees don’t vote for more opposition we can forget about PAP changing their ways.

    GD Star Rating
    loading...
  • Very simple control with $$$:

    PAP takes control of all the big wealth in Singapore. Gov reserves, CPF money and others. PAP then pays themselves and their supporters obscene amount of money, to satisfy their greed and to buy their supporters’ loyalty.

    This is at the expense of the Singaporean people. Our CPF returns are so miserable compared with well managed gov funds elsewhere.

    A very public example:
    Norway gov pension fund is totally transparent in their investment and pay. The very big (US$1 trillion) fund chief gets only about 1 million dollars.

    The smaller GIC and TH funds pay their chiefs undisclosed secret amounts. Speculation reaches a few hundred million for their chiefs, since PAP likes to compare with CEOs of huge companies such as Apple and Microsoft.

    Here, even a tiny SMRT pays its chief millions of dollars. You compare with transport chiefs in other countries, who typically get about half a million. When a tiny SMRT chief gets a few million dollars, it is logical to estimate that TH and GIC chiefs get at least a 100 million dollars.

    PAP is way overpaying themselves with our taxpayer money.

    GD Star Rating
    loading...
  • Truth:

    Kleptocracy: a government with leaders that use their power to exploit the people and natural resources of their own territory in order to extend their personal wealth and power.

    GD Star Rating
    loading...
  • uselesstankinl:

    get rid of them then

    no balls or no brain

    GD Star Rating
    loading...
  • Steven:

    It would be good if a link to the Nikkie analysis is provided. I, for one would be keen to read the report for myself.

    I agree that the change in the HDB pricing model has caused much distress to Singaporeans trying to own a home.

    I remember the first flat I got was the 4A-Rm that cost me $70,500 with a size of 104sq ft. I managed to pay off my mortgage within 5 years. The main reason was the then CPF contribution of 25% for both the worker and employer.

    Now, the young couple has to struggle with a 25 or 30 year mortgage. I weep for the young. These are the people who have to struggle with a high cost of living environment which unfortunately, will not improve, in my opinion.

    GD Star Rating
    loading...
  • REGIME CHANGE is the solution:

    Compelling reasons for regime change. VTO.

    GD Star Rating
    loading...
  • Pseudopap Vs The Real Men:

    https://www.roots.sg/learn/stories/in-memory-of-dr-goh-keng-swee/story

    Dr Goh Keng Swee the Deputy Prime Minister, was among the most important members of Singapore’s founding generation of leaders. He played a critical role as Minister of Finance in the crucial early years from 1959-65 and from 1967-70 laying the groundwork for Singapore’s subsequent economic development. Though on hindsight Singapore’s economy could appear to follow a clear progressive path, at that time, the task to build an economy was fraught with grave uncertainty, as Dr Goh said in this 1969 speech:

    ”When my [PAP] government first assumed office on June 3rd 1959….. businessmen and industrialists, far from hailing this event as a happy augury for the future, felt for the most part that the end of the world was around the corner. The stock market collapsed and there was a flight of capital out of Singapore. Several people fled the country. [But] In a short space of ten years, we brought about a transformation of the business climate.”

    Among Dr Goh’s many achievements in bringing about this transformation was his role in establishing the Economic Development Board (EDB) in 1961, the Jurong Industrial Estate in 1962 (which he promoted in spite of severe public criticism, though it turned out to be the right move) and the Development Bank of Singapore (DBS) in 1968. These institutions have continued to make vital contributions to Singapore’s economic success.

    Dr Goh expressed his conviction that successful economic development depended on the determination, initiative, enterprise and self-reliance of a people and that good government should encourage these qualities, in a speech to the Chinese Chamber of Commerce in 1969:
    “We in Singapore believe in hard work. We believe that enterprise should be rewarded and not penalised. We believe that we must adjust ourselves to changing situations. We believe in seizing economic opportunities and not let them go past us. Finally, we believe in self-reliance…..These are human qualities that have helped to transform an island-swamp into a thriving metropolis. They are the traditional virtues of Singaporeans and so long as we retain these virtues, we can face the future with confidence.”

    Dr Goh was not only an exceptional Minister. He was a humble and humane person, compassionate for the needs of the less fortunate and deeply interested in social issues. He had in fact started his career as a social researcher at the Social Welfare Department (SWD), which he had chosen to join at the end of the Japanese Occupation, although the SWD was then a small organisation with little prestige in the civil service. As a young officer there he played a central role in organising the People’s Kitchens during the British Military…

    GD Star Rating
    loading...
  • Pap is worse than covid:

    Corona or no corona, pappies continue to accumulate their millions.

    Wayang here and there to show care and concerns. But sinkies, you mati from corona your problem.

    Hehe…. Coz no prob, pappies continue to bring in foreign trashes.

    Life goes on…..

    GD Star Rating
    loading...
  • Realistically:

    @ Khush Chopra

    “The Nikkei analysis linked below provides us with an excellent summary of much that ails Singapore.”

    No link leh!

    Even without reading the Nikkei article, I have been saying ad infinitum about the ROOT CAUSE of the PAPies’ failures and its failed policy………long long time ago, say even before the 2001 GE.

    ““The economic model, which began as a mixture of socialist nationalism and paternalistic authoritarianism, before veering toward Thatcherite shareholder capitalism in the 1990s, has been much mythologized by free marketeers and aspiring autocrats worldwide.”

    Actually it is more than that…….commentators and other so called intellectuals, like that bootlicking chap called Tommy Koh, have been taken in by the propaganda (and in the case of Tommy Koh – the guy who regularly contributes his propaganda pieces in the 154th ranked ST, like Singapore’s public is 3rd world when he should, as a jurist, be more concerned with the quality or the lack of it in what Dr Lee Wei Ling called a travesty of justice).

    The PAPies’ policy started to change direction for the benefit of …..once LKY got rid of the old guards like Goh Keng Swee, Toh Chin Chye, E W Barker, Lim Kim San, Hon Siew Sen etc from around the mid-1980′s. Remember what LKY said about: “What’s wrong in collecting more money from sinkies?”…”no spur on the hides”?

    That’s why I hv been saying the so-called oppos don’t quite understand the ROOT CAUSE and failed policies of the self-serving ….(u can fill in the blank.

    Oh by the way, what can and have YOU shown yourself (and the PSP) above the mundane deficiencies of the so-called oppos? At least Kenneth Jeyaretnam has shown his knowledge and competence in commenting on economic policies and the sham budget statements.

    GD Star Rating
    loading...
  • Flabbergasted:

    Thanks Khush for the article. We need to start educating the dumb 70% of the failed policies of the PAP government. The civil servants, the beholden judiciary and off course the dumb a$$e grassroots. They need to read this article and hopefully more to come from other sources. PAP is a failure and we need to VTO.

    GD Star Rating
    loading...

Leave a Reply

 characters available


Scroll Down For More Interesting Stuff


Member Services
Self-SupportMembers LoginSelf-Support
VirusVirusVirus
Sponsored Advertisement
Search On TR Emeritus
Sponsored Advertisement
Most Recent Comments
  • Do more for the needy: Need to do more for the needy and badly hit by the Virus,especially those on no pay leave or...
  • Do our part: The situation is getting worse. All should do our part to reduce the community spread. Stay home and...
  • Do more: Need to do more to reduce the community spread. The situation is getting worse. All need to do their...
  • TRE Techie: @SG Boleh Assuming that I would be willing to give them the benefit of doubt (which I am very hesitant...
  • Do more: Need to do more to reduce the Virus spread at the dormitory. Need for more urgent drastic measure in place...
  • LKY awakes: Only one man can solve the problem of the corona virus spread but alas he is ashes in some urn.Yes LKY is...
  • SG Boleh: @TRE Techie I agree that these “wait and see” approach and half-measures taken by them have...
  • Million Dollars Con Jobs: A RELUCTANT LEADER – PART 1/2 Introduction When you have a leader who himself said...
  • N Chan: @Sojourner of Truth Its not like Trump is hoarding all the medical supplies. He DID ship supplies of them to...
  • trublu: Andrew,NOT ALL CANNOT? MI$tre$$e$ CAN? *THEY* MEET THEIR MISTRESSES IN SECRET RENDEZVOU$$$? NO ONE *SAW* THEM...
  • trublu: Resistance from employer$$$? Isnt the GOVT,via its AGENCIE$,directly or indirectly,through rampant...
  • Sojoürner of Truth: N Chan: The bottom line is, 3M is a US company and it is THEIR PRIORITY to attend to their...
  • trublu: My First School becomea my FIRST screw? OYK says SAFER FOR KIDDIES TO BE IN *SCHOOL*? 8 think he shud go get...
  • trublu: $timulus is like trying to find a vaccine to an ailment. It is *too LITTLE too LATE* kind of trying to...
  • trublu: Set up FIELD CENTRES to take care of INFECTED IN SENTOSA. THIS IS NEST ISOLATION.
  • Something very wrong ...: There is something very wrong with this announcement (and other similar annoucement). Look...
  • Should have: How Come They N ever Get iT � 63;: In other countries, top political...
  • N Chan: @Homeless Cat 1. On Choloroquine That’s what FDA says but for an objective assessment and evaluation of...
Announcement
Advertisements
Advertisements
Visitors Statistic
Latest Statistic

UA-67043412-1