Regurgitating data as it is, is not very helpful. If you cannot use simple explanation or draw analogy for easy understanding, you’ll lose a good portion of your audience.

No, he did not use ‘stagflation’, but he implies it, deliberately or accidentally. Of course he’s wrong. Yup, I understand you don’t need to have supply shocks for stagflation.

What’s particularly remarkable is that though Singapore has been in a recession since 2nd Qtr 2008, we still had a record inflation rate in that year. Similarly, there’s nothing “inappropriate” with the term “record high inflation”. That is an accurate and factual description of the state of the economy.

However, inflation was also caused by external supply shocks – 2007 and 2008 recorded sharp rises in prices of basic neccessities such as food. That term can be used for then, but NOT now or in the future, as Leong implies. That’s why I find his interview misleading, because he seems to be muddling past and future stuff.

it might be worth reviewing labour and economic policies to see if they have contributed to those occurrences. A review doesn’t necessarily constitute a change; it’s like a study of what caused those.

Of course, of course. But Leong in his conclusion suggests we should reverse these trends. That is my problem with this interview article: it seems to judge the economic prospects of S’pore using statistics not properly explained.

In the US, it is the gun that causes many innocent deaths. PAP is the medium (the gun) that causes the people NOT to vote for the opposition. PAP may lead the country to its demise after one or two generations like Argentina which was one ot the ten richest countries in the world and which also had a dominant ruling party, the Peronistas.

Leong Sze Hian never used the term stagflation. It’s clearly inappropriate because we aren’t stagnating but contracting along with inflation though inflation is decreasing (as it would in a recession) Stagflation isn’t necessarily caused by supply shocks, even though the best example of stagflation was caused by a supply shock in oil.

What’s particularly remarkable is that though Singapore has been in a recession since 2nd Qtr 2008, we still had a record inflation rate in that year. Similarly, there’s nothing “inappropriate” with the term “record high inflation”. That is an accurate and factual description of the state of the economy.

As for those statistics, those are the latest available. The data for the first quarter isn’t out yet, so we make do with what we have. If no explanations have been given (I don’t know if there were any official explanations), it might be worth reviewing labour and economic policies to see if they have contributed to those occurrences. A review doesn’t necessarily constitute a change; it’s like a study of what caused those.

One only need to compare such actions of other governments and ask if the Singapore government is pursuing similar policy to help Singaporereans and if not why not. After all they must be accountable for the use of taxpayers’ monies.

all info/data if not very precise, clear + detail,

how to ensure correct info pass to the public???

but 1 thing for sure, those elites sitting in the office,

public sure know who they are..

aiyoyo

Think of election as a football match. If both the home team (PAP) and referee (election body) are good friends, how can the opposition party win?

All Singaporean adults should vote, but the GRC system is depriving most of this entitlement.

No people voted for the opposition.

They got about 30-40% of the votes but was only represented by 2 candidates.

That’s not normal.

In the end everything follow the “Darwin Law of Survivial of the Fittest!”

I don’t see Singaporean can be unite when there is crises as we are more diverse as ever, so many diffferent type of nationalities in Singapore.

Ask any Singaporean, do they willing to die for the country just for the HDB Flat, the answer is “No” cause there is no ideals or dream to fight for. NS is not a option but a must and after serving for 14 years, the end is just a watch. Job Security is not there and daily survivial to meet the bills become a problems.

During a discussion with an American expert a few years ago, I mentioned that Singapore is a safe place because we have total gun control unlike the US, he retorted: “Guns don’t kill people, it is people who kill people.”

In the same way, PAP don’t stop the opposition parties from contesting in the elections, it is the people who don’t vote for them.

That why we are the most pessimistic!

Please give us a breakdown of the jobs that goes to Singapore Citizens versus PR. It is so easy to get a PR in Singapore, just study and graduate from 1 of the government polys or universities. 1st generation PRs do not serve NS and reservist but get benefits like Singaporeans.

The 10% extra medical subsidy that Singaporeans is nothing compared to the inconvenience and disruption of reservist to our lives.

Supplies are abundent with degree holders of 25 yrs from third world countries with pay abt $2.5K

If you are an employer, who is in the right mind to employed the locals!

Straits Times (3 Apr 2009) reported MOM minister Gan Kim Yong say that “official figures so far show that in the first nine months of last year, about one in three people made redundant – through retrenchments or early termination of contracts – was a foreigner.
This proportion is almost equivalent to the relative number of foreigners here as they form 36 per cent of Singapore’s workforce.
But the redundancy figure is an underestimated number as it does not include employment contracts or work permits that are not renewed.
‘So if you take them into account, numbers have been higher for foreign workers,’ he notes.”

Spinning to make the numbers look good? Then, 7 in 10 new jobs went to foreigners. Now, about 4 in 10 jobs lost are of foreigners. So? Still more Singaporeans get fired right? Where is the so-called buffer for job losses by foreigners?

Hmm. It is implied there is stagflation in S’pore. But I think not, as the recession is caused by demand-deficiency, not through a supply-shock.

Furthermore, “record high inflation” in S’pore was in 2008. If Leong is predicting the future, then using this term is inappropriate, as inflation rate will probably decline sharply in coming months, similar to other countries.

Lastly, the statistics to the last interview question were based on 2007 and 2008, and there are no explanations for the statistics. Just reading the statistics alone cannot lead to this conclusion: “In view of the above statistics, I would like to suggest that we review our labour and economic policies, to address and reverse the above unhealthy statistical trends” !

For example, the reason why labour productivity fell in 2007-2008 was because of higher employment gains within the same period. The fall in labour productivity means same or less output is produced by more inputs (labour, in this case). So should we be happy or not?

I wouldn’t jump to conclusions based on uninterpreted statistics.

The figures are not surprising and what we need is a U Turn from dependence on Foreigners or so called Foreign Labours/Talents to Hire Singaporeans Solely, and only then Modern Singapore can regain its vigour and prosperous again when her economy recovers. Just imagine billions of Singapore Dollars were remitted back by these Foreigners or so called Foreign Labours/Talents, and conversely, we can sing loudly that our government also earns billions from Foreign Levies from Employers.

Time to say no to Foreigners or so called Foreign Labours/Talents, and our Opposition MPs must high this in the next Parliament sitting.

Regards
Andrew Chuah