Asia One - Sat, Feb 07, 2009
2009 will test the mettle, the strength of character, of Singaporeans. The PM and Finance Minister have described this worldwide financial crisis that has reached us. This is the first time that all banking systems in all countries are concurrently facing a credit crunch. They have lost confidence in themselves, in their fellow banks and other financial institutions, and even in their customers. US and EU banks have been brought down by complex derivative securities, now called "toxic assets" because they may be worthless.
In 9 months, we will know how President Obama's economic and financial plans are doing. We will have an indication of when America's economy will bottom out and start to grow again. With luck, it could be by the end of 2009 or in early 2010. However, many leading American economists contend that spending this huge sum of money, they may still not succeed in kick-starting the economy. Some argue that prices in the mortgaged housing sector must hit bottom and recover before confidence will return. When they do, banks and financial institutions worldwide will be more confident.
The outcome of America's economic and financial policies will affect the EU, China and Japan, because the US is their major export market. By the end of the year, we will know where the US economy is heading. The "Resilience Package" may have to be updated.
Our external trade is more than three times our GDP. Therefore, the level of international trade is a decisive factor for our economy. Indeed, in this globalised economy, no country - not the US nor the EU, nor Japan, nor Singapore - can single-handedly decide its economic performance.
Big countries like China and India can still make substantial 6 to 8% growth despite this meltdown. They have giant domestic markets and can spend to meet their large infrastructural needs. But China's GDP is only one-quarter, and India's less than one-tenth that of America's. We may get some spin-offs from their growth, but they cannot lift us like a US recovery.
Singaporeans and their government are not in panic. We have got the wherewithal to survive this recession, even if it goes on for several years. We knew such a recession must come from time to time. It is in the nature of the free markets of the western world that our economy is plugged into. People and systems tend to be carried away by exuberance. Investors get greedy and rush in to buy, believing that prices will only go up. When prices collapse, investors find they have lost huge sums. Despair and depression then set in.
Everyone in the world is poorer. US$7 trillion has been wiped off the world's stock markets. According to a BBC report from Davos, the world's assets (stocks, properties, pensions, gold, jewellery, etc) have lost 40% of their value. Rupert Murdoch speaking at Davos said personal wealth in the world has fallen by US$50 trillion. Forbes estimated that in Hong Kong, the 40 richest billionaires and millionaires have lost half their combined wealth. Property values have gone down in every country, so have profits for companies and wages for workers. In Singapore, our SGX market capitalisation lost half of its value last year. Properties at the high end, residential and commercial have gone down. However, HDB prices have held up because many are downgrading from private condominiums to purchase HDB flats.
Everyone's wealth has shrunk as our assets have lost value. But if you have not borrowed excessively to buy assets and have sufficient cash to service your loans, you can hold on to your investments until the market turns up and prices recover.
Singaporeans need not despair or be depressed. We will have to endure some hardship. But nobody will be destitute, depending on soup kitchens or begging in the streets. Everyone has a home, 95% of Singaporeans are home-owners. They will receive U-save rebates and S&C subsidies, GST credits, Workfare Income Supplements and other forms of assistance. Most importantly, the government has launched the Jobs Credit Scheme to save jobs for Singaporeans by giving employers a maximum grant of $300 per month for each Singaporean worker. These measures will help Singaporeans meet their basic living expenses and defray their utility bills and conservancy charges. Support is tilted towards the lower income families in the two and three-room flats, and also the middle-income in four and five-room flats.
Some professionals have written to the newspapers that we are ignoring those in the private condominiums and landed properties. The government has not overlooked them. They are getting income tax and property rebates, and GST credits. But it is right that the low income groups should get more help, as they are in greater need.
Ministers and senior civil servants are taking pay cuts of up to 20% as the economy has slowed down substantially. Middle and lower-ranking public officers would also receive lower salaries, but with smaller reductions. It is to share the belt tightening that other Singaporeans have to bear in this difficult period.
Most of what we consume is imported. We do not grow our food, nor manufacture the goods we buy. Whatever we do, retailers will find customers more cautious, because they are preparing for what could be a longish period of negative or little growth. Retailers, like other companies, will get up to $300 per month for each Singaporean employee through the Jobs Credit Scheme, and should also benefit from the 40% property tax rebate, which is the least that landlords should pass on to tenants. Along Orchard Road and many other shopping centres, tents have been put up next to shopping malls for the mall tenants and others to sell their wares to passers-by at lower prices. The market will adjust. This experience will be remembered by everyone, especially by all those who were born after 1971. After 1971 and the oil crisis which caused oil prices to quadruple, our economy has grown steadily year after year. So this generation may believe that Singapore and Singaporeans will automatically go up the escalator every year. This is not so.
In testing times, we must have the guts to face our problems, maintain solidarity and work together, learn new skills and knowledge through the SPUR programme that the government has launched. We will overcome our present difficulties and emerge stronger from the experience. We will get fresh investments again, higher value investments that will employ more workers who are better-skilled and more knowledgeable. Our standing with investors worldwide is high. They know we are restructuring and that we will pay for our workers to be trained by them, and by other institutes, under the SPUR programme to match the skilled workers that they need. We should take this opportunity to go for training and upgrade ourselves for these higher value-added jobs.
Singapore's security, stability, reliability and good labour relations are well known. Whatever your job, you are better off in Singapore than if you are in a similar job in any other Asian country, including China and India. The only country where job for job, you can be better off, is in Japan. The Japanese have huge reserves, top class infrastructure and a highly skilled, industrious and knowledgeable workforce.
Do not be discouraged by the present hard times. I am confident the younger generation of Singaporeans have the grit, stamina and resourcefulness to bounce back.
My generation of Singaporeans will never forget the 1960s and early '70s when we had only $100 million in our reserves. We faced separation from our then economic hinterland, Malaysia, and "Konfrontasi" and no trade with Indonesia. That generation kept their nerve and were determined to succeed. Your parents' and grandparents' generations had hard lives in shanty huts with no running water or modern w.c, not knowing what the future could bring. They simply concentrated on hard work and built the foundation for the Singapore of the 21st century.
We will go through with restructuring our economy. And retrain and educate our workers to higher levels of skills and knowledge. When recovery comes in the US and EU as it must, we will be ready for a higher level of economic activity.
Your generation can take Singapore forward to become one of Asia's most vibrant and beautiful cities. We will have a spectacular marina in the Central Business District; the island will have many beautiful streams and water bodies; our housing estates will be clad in exuberant foliage and ringed by gardens, recreational and sporting facilities. This is not a pie in the sky. It will be realised in the next 5 to 10 years, even with the current financial crisis.
The success of Singapore came from the hard work, resourcefulness and ingenuity of your forefathers and their leaders. You are the descendants of these lion-hearted pioneers. You have it in you to succeed. Joining you are hardworking and talented new emigrants from Asean, India and China. Together we can make the grade.
SPEECH BY MINISTER MENTOR LEE KUAN YEW AT THE TANJONG PAGAR CHINESE NEW YEAR DINNER AT HENDERSON SECONDARY SCHOOL, 6 FEBRUARY 2009
When economy is doing well, GDP growth , credit is given to PAP, when economy not doing well senile lee and PAP point fingers.
We will go through with restructuring our economy. And retrain and educate our workers to higher levels of skills and knowledge.
MM Lee, u sure you will guarantee workers after retraining and education will definitely secure jobs? I have heard complains from local workers that after they upgraded themselves, jobs are given to foreigners instead of locals.
Come and test my cock lah.
Test Singaporeans, my lan jiao.
uh oh.
Originally posted by Fantagf:We will go through with restructuring our economy. And retrain and educate our workers to higher levels of skills and knowledge.
MM Lee, u sure you will guarantee workers after retraining and education will definitely secure jobs? I have heard complains from local workers that after they upgraded themselves, jobs are given to foreigners instead of locals.
Let's be objective and practical.
It's no use screaming unfair practices. The biz world is cruel and ruthless. Everyone needs to be on their toes, to be in their best and be the best, or the company will fold due to competition.
Foreigners or foreign talent is preferred over locals ( espacially PMETs) because locals lose out on one and only one vital factor - experience.
Singaporeans are the best talents for the biz world. We had been prepared since Primary 1 to be the best. Competition and intelligence upgrading is no difficult task and means nothing to our national spirit to achieve excellence in whatever we do.
But as the biz world revolves at the speed of light where changes comes at reflex speed, companies find it hard or justifiable to accept new, intelligent but inexperienced managers or technicians.
Let's not be disheartened or give up. The spirit of Singapore lives in us.
Our forefathers were only coolies or held inferior jobs to their British masters. They were never discouraged. Even as our forefather gardener swept the leaves in the garden of his brit master's bunglow, with his limited education but in possession of a brain, had already plotted on the steps to take over the bunglow for himself.
He succeeded as history had proven, so well that not only taking over the bunglow, our forefathers kicked the racist colonnial thieving Brit butts off our island and charted their asian destiny, the sons and daughters of the dragon, the garuda and the sacred cow.
Similarly, we too this generation can do the same. The biz world is a cruel place. The foreigner knows jolly well he was hired because of his experience. We Singaporeans must not mind playing second fiddle, earning lower title or lower pay.
The foreigner's days are numbered, unless he becomes a citizen. Like our forefathers whom dealt with the Brits before us, the foreigner can replaced by us, in time.
So, do not be disheartened or discouraged. Upgrade and gain experience. Our time will come as it came for our forefathers - the progenitors of lions - us.
What a load of bollocks, why should i play second fiddle to our foreigners who do not serve NS, do not pay taxes and who most likely in times of conflict, flee while we bear arms and make the ultimate sacrifice serving a country who does not put its citizens first.
"Let's be objective and practical."
Hi xtreiyer
I find it amusing that you start off your defense with these words, yet go on to make a whole lot of suggestions that aren't practical at all, nor are you being objective. What you are trying to do is calm people down, but when the shit hits the fan, how do you expect
them to not panic?�
"It's no use screaming unfair practices. The biz world is cruel and ruthess. Everyone needs to be on their toes, to be in their best and be the best, or the company will fold due to competition."
No doubt the biz world is cruel, but we are talking about the nation of Singapore, not a company. The most common accusation against Singapore is that it's run like a company. Companies will be cruel and ruthless, but surely countries shouldn't be. And countries are entitled to unfair practices: every nation on earth has a bias towards its citizens. Strangely SIngapore seems to be an exception, with policy often in favour of FTs and PRs rather than citizens.
"Foreigners or foreign talent is preferred over locals ( espacially PMETs) because locals lose out on one and only one vital factor - experience."
No. I won't say you are lying, but you are way, way off the mark. FTs are preferred over locals for a host of reasons: no CPF, no NS headaches, much lower pay, and sometimes, as you said, experience and talent.
"Singaporeans are the best talents for the biz world. We had been prepared since Primary 1 to be the best. Competition and intelligence upgrading is no difficult task and means nothing to our national spirit to achieve excellence in whatever we do."
If that is the case, then Singaporeans shouldn't be worried at all. They should be able to find a job anywhere in the world. Why then are they worried? Because worldwide all countries are in deep trouble, and every� nation is out to ptotect its citizens's jobs as far as possible. Singapore is already screaming against protectionism in other countries...we all know why. But in these tough times, do you think the US or UK or any developed nation will even be bothered about this red dot? If the citizens can't ask their government to protect their livelihoods, who else can they turn to?
"Let's not be disheartened or give up. The spirit of Singapore lives in us."
These are empty words. The won't save jobs or feed families. What is needed is action, not rhetoric.
"He succeeded as history had proven, so well that not only taking over the bunglow, our forefathers kicked the racist colonnial thieving Brit butts off our island and charted their asian destiny, the sons and daughters of the dragon, the garuda and the sacred cow."
Nothing of that sort. The Brits had to leave after the war because the Empire couldn't sustain itself any longer. "Our forefathers" didn't kick anyone out. Hell, uptil 1965, Singapore was part of Malaysia - what Asian destiny are you talking about?
"Similarly, we too this generation can do the same. The biz world is a cruel place. The foreigner knows jolly well he was hired because of his experience. We Singaporeans must not mind playing second fiddle, earning lower title or lower pay."
The foreigner knows jolly well that he was hired mainly because of the reasons I mentioned above. The government is saying citizens should upgrade, but you seem hell-bent on downgrading them.
"The foreigner's days are numbered, unless he becomes a citizen. Like our forefathers whom dealt with the Brits before us, the foreigner can replaced by us, in time."
Ha...keep dreaming
! Did you see the other thread I started? 80K FTs became PR in 2008, the number is only
increasing every year. How many of them are likely to become citizens? How many do you think have long-term plans for Singapore? Get real, man! I know dozens of PRs who openly state that they have no plans to become Singapore citizens, because they know the flipside!
"So, do not be disheartened or discouraged. Upgrade and gain experience. Our time will come as it came for our forefathers - the progenitors of lions - us."
More rhetoric. Not good enough in these troubled times.
Originally posted by Cram:"Let's be objective and practical."
Hi xtreiyer
I find it amusing that you start off your defense with these words, yet go on to make a whole lot of suggestions that aren't practical at all, nor are you being objective. What you are trying to do is calm people down, but when the shit hits the fan, how do you expect
them to not panic?�
"It's no use screaming unfair practices. The biz world is cruel and ruthess. Everyone needs to be on their toes, to be in their best and be the best, or the company will fold due to competition."
No doubt the biz world is cruel, but we are talking about the nation of Singapore, not a company. The most common accusation against Singapore is that it's run like a company. Companies will be cruel and ruthless, but surely countries shouldn't be. And countries are entitled to unfair practices: every nation on earth has a bias towards its citizens. Strangely SIngapore seems to be an exception, with policy often in favour of FTs and PRs rather than citizens.
"Foreigners or foreign talent is preferred over locals ( espacially PMETs) because locals lose out on one and only one vital factor - experience."No. I won't say you are lying, but you are way, way off the mark. FTs are preferred over locals for a host of reasons: no CPF, no NS headaches, much lower pay, and sometimes, as you said, experience and talent.
"Singaporeans are the best talents for the biz world. We had been prepared since Primary 1 to be the best. Competition and intelligence upgrading is no difficult task and means nothing to our national spirit to achieve excellence in whatever we do."
If that is the case, then Singaporeans shouldn't be worried at all. They should be able to find a job anywhere in the world. Why then are they worried? Because worldwide all countries are in deep trouble, and every� nation is out to ptotect its citizens's jobs as far as possible. Singapore is already screaming against protectionism in other countries...we all know why. But in these tough times, do you think the US or UK or any developed nation will even be bothered about this red dot? If the citizens can't ask their government to protect their livelihoods, who else can they turn to?
"Let's not be disheartened or give up. The spirit of Singapore lives in us."These are empty words. The won't save jobs or feed families. What is needed is action, not rhetoric.
"He succeeded as history had proven, so well that not only taking over the bunglow, our forefathers kicked the racist colonnial thieving Brit butts off our island and charted their asian destiny, the sons and daughters of the dragon, the garuda and the sacred cow."Nothing of that sort. The Brits had to leave after the war because the Empire couldn't sustain itself any longer. "Our forefathers" didn't kick anyone out. Hell, uptil 1965, Singapore was part of Malaysia - what Asian destiny are you talking about?
"Similarly, we too this generation can do the same. The biz world is a cruel place. The foreigner knows jolly well he was hired because of his experience. We Singaporeans must not mind playing second fiddle, earning lower title or lower pay."
The foreigner knows jolly well that he was hired mainly because of the reasons I mentioned above. The government is saying citizens should upgrade, but you seem hell-bent on downgrading them.
"The foreigner's days are numbered, unless he becomes a citizen. Like our forefathers whom dealt with the Brits before us, the foreigner can replaced by us, in time."Ha...keep dreaming
! Did you see the other thread I started? 80K FTs became PR in 2008, the number is only
increasing every year. How many of them are likely to become citizens? How many do you think have long-term plans for Singapore? Get real, man! I know dozens of PRs who openly state that they have no plans to become Singapore citizens, because they know the flipside!
"So, do not be disheartened or discouraged. Upgrade and gain experience. Our time will come as it came for our forefathers - the progenitors of lions - us."More rhetoric. Not good enough in these troubled times.
Dear Cram,
Thank you for your reply and your opinions, and the dissection of my post, based upon your own perceptions, as per your right to voice out in which i would defend as well, even if i cannot agree with it.
So, what in your own opinion, would be 'good enough' in these troubled times?
Are these indications of 'get real' and 'good enough' solutions from you, as written in your post?
1."Strangely SIngapore seems to be an exception, with policy often in favour of FTs and PRs rather than citizens" - a reality backed up with actual facts or just a personal perception/misconceptions?
2. "If the citizens can't ask their government to protect their livelihoods, who else can they turn to?" - are you asking the govt to intervene into the affair of companies, a bunch of politicians telling directors of companies who have vested interests and own money in their investments on what to do?
3."Get real, man! I know dozens of PRs who openly state that they have no plans to become Singapore citizens, because they know the flipside!" - I am glad you openly admit to only dozens of PRs and not the entire lot. So much for your perception of 'reality'.
While i may thank you for your dissection, or rather, the 'murder' of my post, I would have deeper respect for you if you can come out with practical solutions.
Doesnt matter if it is a mistake, because the ultimate solution can only be found by engagement and discussions. Solutions dont just pop into one's head.
Originally posted by Man!x:What a load of bollocks, why should i play second fiddle to our foreigners who do not serve NS, do not pay taxes and who most likely in times of conflict, flee while we bear arms and make the ultimate sacrifice serving a country who does not put its citizens first.
I can understand your animosity and your repugnance for foreigners. Believe me, I share similar feelings with you.
But these are troubled times. We seriously need the best talents and as for foriegn workers, the cheapest to surge ahead or we will all starve. This is not a time for nationalist Economic pride.
When we are strong and capable, our young are matured enough, the only foreign worker will be the ones performing jobs we singaporeans feel is beneath us.
But that time is not now. I will gladly stuff my pride and sweep the streets to earn money so that me and those i care about will not starve.
My only hope is that as cruel and ruthless companies are required to be, managers must know they are operating in Singapore today, the hardwork and sacrifice of our predecessors made it possible, as well as generous tax incentives and funds by taxpayers to help them, will consider citizens first where possible and offer reasonable rates rather than foriegners.
We are all Singaporeans first. Either we hang together as one or we will all be surely hanged one by one by the global crisis.
at least for the tuition industry, fortunately, singaporeans educated locally are currently preferred over foreigners...
Originally posted by xtreyier:
Let's be objective and practical.
It's no use screaming unfair practices. The biz world is cruel and ruthless. Everyone needs to be on their toes, to be in their best and be the best, or the company will fold due to competition.
Foreigners or foreign talent is preferred over locals ( espacially PMETs) because locals lose out on one and only one vital factor - experience.
Singaporeans are the best talents for the biz world. We had been prepared since Primary 1 to be the best. Competition and intelligence upgrading is no difficult task and means nothing to our national spirit to achieve excellence in whatever we do.
But as the biz world revolves at the speed of light where changes comes at reflex speed, companies find it hard or justifiable to accept new, intelligent but inexperienced managers or technicians.
Let's not be disheartened or give up. The spirit of Singapore lives in us.
Our forefathers were only coolies or held inferior jobs to their British masters. They were never discouraged. Even as our forefather gardener swept the leaves in the garden of his brit master's bunglow, with his limited education but in possession of a brain, had already plotted on the steps to take over the bunglow for himself.
He succeeded as history had proven, so well that not only taking over the bunglow, our forefathers kicked the racist colonnial thieving Brit butts off our island and charted their asian destiny, the sons and daughters of the dragon, the garuda and the sacred cow.
Similarly, we too this generation can do the same. The biz world is a cruel place. The foreigner knows jolly well he was hired because of his experience. We Singaporeans must not mind playing second fiddle, earning lower title or lower pay.
The foreigner's days are numbered, unless he becomes a citizen. Like our forefathers whom dealt with the Brits before us, the foreigner can replaced by us, in time.
So, do not be disheartened or discouraged. Upgrade and gain experience. Our time will come as it came for our forefathers - the progenitors of lions - us.
Don't talk nuisance when you mentioned locals and foreigners. If you are a local, i wish that you lose your rice bowl to foreigners.
Talk crap!
Originally posted by Cram:"Let's be objective and practical."
Hi xtreiyer
I find it amusing that you start off your defense with these words, yet go on to make a whole lot of suggestions that aren't practical at all, nor are you being objective. What you are trying to do is calm people down, but when the shit hits the fan, how do you expect
them to not panic?�
"It's no use screaming unfair practices. The biz world is cruel and ruthess. Everyone needs to be on their toes, to be in their best and be the best, or the company will fold due to competition."
No doubt the biz world is cruel, but we are talking about the nation of Singapore, not a company. The most common accusation against Singapore is that it's run like a company. Companies will be cruel and ruthless, but surely countries shouldn't be. And countries are entitled to unfair practices: every nation on earth has a bias towards its citizens. Strangely SIngapore seems to be an exception, with policy often in favour of FTs and PRs rather than citizens.
"Foreigners or foreign talent is preferred over locals ( espacially PMETs) because locals lose out on one and only one vital factor - experience."No. I won't say you are lying, but you are way, way off the mark. FTs are preferred over locals for a host of reasons: no CPF, no NS headaches, much lower pay, and sometimes, as you said, experience and talent.
"Singaporeans are the best talents for the biz world. We had been prepared since Primary 1 to be the best. Competition and intelligence upgrading is no difficult task and means nothing to our national spirit to achieve excellence in whatever we do."
If that is the case, then Singaporeans shouldn't be worried at all. They should be able to find a job anywhere in the world. Why then are they worried? Because worldwide all countries are in deep trouble, and every� nation is out to ptotect its citizens's jobs as far as possible. Singapore is already screaming against protectionism in other countries...we all know why. But in these tough times, do you think the US or UK or any developed nation will even be bothered about this red dot? If the citizens can't ask their government to protect their livelihoods, who else can they turn to?
"Let's not be disheartened or give up. The spirit of Singapore lives in us."These are empty words. The won't save jobs or feed families. What is needed is action, not rhetoric.
"He succeeded as history had proven, so well that not only taking over the bunglow, our forefathers kicked the racist colonnial thieving Brit butts off our island and charted their asian destiny, the sons and daughters of the dragon, the garuda and the sacred cow."Nothing of that sort. The Brits had to leave after the war because the Empire couldn't sustain itself any longer. "Our forefathers" didn't kick anyone out. Hell, uptil 1965, Singapore was part of Malaysia - what Asian destiny are you talking about?
"Similarly, we too this generation can do the same. The biz world is a cruel place. The foreigner knows jolly well he was hired because of his experience. We Singaporeans must not mind playing second fiddle, earning lower title or lower pay."
The foreigner knows jolly well that he was hired mainly because of the reasons I mentioned above. The government is saying citizens should upgrade, but you seem hell-bent on downgrading them.
"The foreigner's days are numbered, unless he becomes a citizen. Like our forefathers whom dealt with the Brits before us, the foreigner can replaced by us, in time."Ha...keep dreaming
! Did you see the other thread I started? 80K FTs became PR in 2008, the number is only
increasing every year. How many of them are likely to become citizens? How many do you think have long-term plans for Singapore? Get real, man! I know dozens of PRs who openly state that they have no plans to become Singapore citizens, because they know the flipside!
"So, do not be disheartened or discouraged. Upgrade and gain experience. Our time will come as it came for our forefathers - the progenitors of lions - us."More rhetoric. Not good enough in these troubled times.
This fellow makes no sense, he only wanna to win.
I will gladly stuff my pride and sweep the streets to earn money so that me and those i care about will not starve.
You better go and sweep the streets now.
Originally posted by Poh Ah Pak:
You better go and sweep the streets now.
Good suggestion. This fellow sounds a potential PAP man, ha ha ha!
He keep on defending PAP.
Very irritating.
Feel like slapping some sense into him.
Originally posted by Poh Ah Pak:He keep on defending PAP.
Very irritating.
One side track. He meant it this way. No matter how, he is not and not going to be successful to put a stop to people speaking truth and reality of PAP. Let him defend, we can't be bothered. I don't even read every of his word, very tiring, waste time!
He really needs to wake up.
Living in his own world.
Originally posted by Poh Ah Pak:He keep on defending PAP.
Very irritating.
Feel like slapping some sense into him.
as opposition u r not allow to slap a PAP follower, only PAP can slap PAP. You are liable to get sue if you slap him.
Originally posted by Cram:
"Let's not be disheartened or give up. The spirit of Singapore lives in us."These are empty words. The won't save jobs or feed families. What is needed is action, not rhetoric.
"So, do not be disheartened or discouraged. Upgrade and gain experience. Our time will come as it came for our forefathers - the progenitors of lions - us."More rhetoric. Not good enough in these troubled times.
Addeum:-
I had initially thought this addeum would not be necessary as it would be understood by all, but judging from the responses, i would have to add it in as a response to your post.
4."These are empty words", "More rhetoric."
-Unless you are a 1st generation Singaporean, to utter such words would show up how unfeeling you are towards the sacrifices of our forefathers.
Majority of Singaporeans here can trace their ancestries back to 4 - 5 generations. None, not even our PM, has a trace of royal blood. Our predecessors were only peasant immigrants.
The hardships we face today or will face soon is nothing compared to what they had to face daily for years and even their lives. Discrimination and domination to say this least, absolutely alien to us in these modern age, yet they toiled.
The streets, the schools, HDB, MRT, etc you see are their hardwork and toil, paid by their taxes and sweat, so that we - the next generation can have a better life than they ever had.
This is a reality, and not some fantasy world i self created.
They left behind an undeniable mark and lesson for us this pampered generation all, to never fear but to push on as best as we can, for they had lived a far worse life and yet could still managed to built Singapore to what it is today, so too can we if we never falther, for we are the descendents of such men and women.
They are the strength that we can draw on to face up to the present reality. These are not empty words, but a factual reality when you stare at the skyline of Singapore. What they had acheived did not come from a wave of a magic wand, but sweat and blood over the years in the hand of cruel masters.
Sianz! Who cares about what this fellow says.
Hi xtreiyer
As for "practical solutions," here are just a few ideas; feel free to trash them if you think they aren't practical:
Scrap GST for a year.
Shut down all ERP gantries for a year.
Reduce tuition fees in universities for citizens and increase fees for foreigners by same proportion.
Allow partial encashing of CPF monies by individuals.
Boost Singapore's status as a medicare hub. After all, it's one of the fe sectors practically recession-proof.
Hi xtreiyer
As for your questions:
1. FTs don't have to pay CPF, while FTs and PRs don't have to do NS -- A simple example to show the reality that policy often favors outsiders over locals. Also, PRs can give up PR status, take their CPF money and go back to where they came from. It will take a very long time for a citizen to actually be able to touch his CPF money, unless of course he wants to give up citizenship - but that's a very big price to pay.
2. Why shouldn't a government interfere in a company's affairs? I would say a govt would be justified in doing so in the people's interest. Some people think companies would pack up and leave Singapore if the govt starts interfering in their affairs. I disagree. There are so many advantages of doing business here: you shouldn't underestimate Singapore's strength.
3. Of course, I only know a few dozen PRs, dumbo. There are half a million PRs in this town; I can't possibly know all of them or know what they think of taking up citizenship. Perhaps someone should do a survey. I'm sure the results would be startling.
Now, let's hear what "practical solutions" you have to make the world a better place!
Originally posted by Cram:Hi xtreiyer
As for your questions:
1. FTs don't have to pay CPF, while FTs and PRs don't have to do NS -- A simple example to show the reality that policy often favors outsiders over locals. Also, PRs can give up PR status, take their CPF money and go back to where they came from. It will take a very long time for a citizen to actually be able to touch his CPF money, unless of course he wants to give up citizenship - but that's a very big price to pay.
2. Why shouldn't a government interfere in a company's affairs? I would say a govt would be justified in doing so in the people's interest. Some people think companies would pack up and leave Singapore if the govt starts interfering in their affairs. I disagree. There are so many advantages of doing business here: you shouldn't underestimate Singapore's strength.
3. Of course, I only know a few dozen PRs, dumbo. There are half a million PRs in this town; I can't possibly know all of them or know what they think of taking up citizenship. Perhaps someone should do a survey. I'm sure the results would be startling.
Now, let's hear what "practical solutions" you have to make the world a better place!
I will have to leave you to your self-centred proposed solutions that will only lead to further depletion of our reserves and end us all up paying higher taxes later to rebuild it for another rainy day.
I will instead relay a simple story for clarity sake.
In 2000BC,the Shang and Chin tribes had been fighting each other for years, defining their borders, culminating with an undecisive battle for a hill on its shared border.
Both sides had sought to take control of the hill, for whomever owns it, will be able to control, dominate and even attack easily across the border.
One day, there was an earthquake and devastated both tribal lands and structures, with 10% of each tribe either injured or dead. There was widespread grief and lamentations. Troops were recalled back to tend the tribe, as rightly should.
As only 10% of the people were maimed, most survivors were just sitting around idly by and wailing on the tragedy. A common soldier on the Chin side got bored, took the national flag and walked all the way to the disputed hilltop, unchallenged, and planted the Chin flag.
When the Shang tribe looked up from a distance, they were stunned. Already with low morale from the earthquake, assuming the worst, they gave up the fight and fled as far away from the Chins as possible.
From then on, the victorious by default and by confidence of a common soldier, the Chins went on to conquer more terroritories, adding other tribes into their own and united the land.
The point i am driving at is that biz must never forget their basic role. This crisis is biz related. A biz exist to make profits, from sales' orders. This would be how they would earn money to hire people and pay them from parts of the profits earned.
While everyone is lamenting and wailing about the crisis, take a good look at the shopping malls - are they totally devoid of customers? Take a good look at our harbour - is it empty of ships? Take a good look at Changi airport - are there no tourists? Take a good look at our factories - have they ALL shut down?
The answer is NO!
Biz still carries on. Lives still need necessities. Orders and sales STILL exists. Thus, Biz MUST make a point to grab all they can now! In this crisis, the focus is not on the mgmt, or wait for govt handouts. The focus is on getting sale orders.
The competition is even keener now, but the good news is, majority of overseas companies, espacially US and European ones, had over extended themselves on loans and have to either scale back or shut down - meaning the field of competition is clear for us Singaporeans to muscle in!
2 generations of Singaporeans had been trained and conditioned for competition and be competitive in life. We know and have what it takes to compete. We should unleashed ourselves, or be unleashed now to go for it!
Whatever we managed to earn and spend will replenish our own assets as well as our treasuries for future generations. There is no better time than now when the competition is down and out!
The choice of 'Chip' Goodyear as Temasek's CEO is a fantastic coup! He is a 'resource' man and understand the resource biz in and out like no other! With him at the helm, our reserves will most certainly grow!
In this crisis, trillions of dollars will be spent on infrastructure building. The last time it happened was after WWII. Billions were spent, jobs were created and economic booms resounded for years.
But right now, most of those infrastructures are near crumbling ruins. A right time for nations to invest and create jobs for these purposes. Even China, India, Middle East states, Iraq and Afghanistan needs to upgrade theirs.
Which means - resources required! Steel, aluminium, copper, sand, etc, etc, are needed. Our planet have not run out of it yet. Do remember, for the past 6000 years of recorded history, we only used less than 30% of Earth's underground resources, for 70% of Earth's land lies underwater. We now have the technology to go underwater if need be to get resources that lay beneath the sea.
So, who is better than Chip to lead our biz teams to grab a slice of the resource investment and market?
Any fears for the future now?
PS1:-Just don't rely too much on the stock market for information or 'investments'. It is nothing more than a ponzi trap set up by hedgefunds to recoup their losses. The indices are NOT true indicators of a company's health.
For true investments, one will have to follow the particular invested company's loan exposures, committments, sales and purchases, and every single detail closely and monitor intelligently.
Companies react differently to events and not some 'one size fits all' that stockbrokers and others love to propergate for their scams.
PS2:- Many worry about the environment, global warming and climate change. Please tell me since civilisation began which century had not experienced global warming, climate change, droughts, floods, earthquakes, etc, etc?
Truth is, such natural events had with us all the time. Humans are adaptable beings. Our ancestors adapted and fared none the worse. So could we.
By all means, save the environment. Cut down on fossilized fuels usage. Save our resources. BUT within reason. Let no child be deprive of the opportunity to grow in peace and prosperity, and not just because some nutcase environmentalist tree hugger wants to save a few trees at the expense of mankind's progress and evolution.
PS3:- What i had written are retrived from raw data, analyzed and presented in my way. By no means are the concepts i proposed new or came from me alone. So, there is no need for derogatory labels on me. I am only a nobody anyway.
What i can think of, i am sure others would have thought of, and even acted upon, or discarded as impractical. I only asked that you consider if what was written makes sense, and find out the truth for yourself.
Only the truth will set you optimistically free to fight for your future, rather than to live in the comfort of pessimistic misery and labelling others as fool, inorder to live a lie.