There is no V-shaped; now the optimistic scenario is a U-shaped recovery, a deep U, a fat U, and if we are lucky, gradually recovering from the later part of this year or early next year.
But if we are not lucky, it could be an L-shaped problem – economy is still shrinking, after a while it doesn’t shrink so fast, it stops shrinking, but it stays at the bottom a long time before slowly picking up again, no growth or poor growth for several years to come.
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No $hit sherlock…..haha…
Talk about stating the obvious.
When the clowns lose the respect of the citizen and the clowns still remain arrogant and unrepenting then don’t blame the citizen for condemning the clowns every here and then, rational or irrational (after all those clowns choose to be rational and irrational up to their discretion agenda). One don’t go around exploiting and bullying the citizens while been paid by citizen’s money. Do you, as a executive of the company, screw and exploit the investors blatantly and openly in the first place ? If not, why should we citizen accept that from the government ?
“To tell us to depend on luck is definitely unbecoming of our leaders.”
Not unless our LEEders depend heavily on the luck, and so far they are indeed “lucky” to have subservient, obedient and gutless citizens. They think that since luck work for them in the past, it works for everyone. They have been pushing their “luck” too far thinking that since it is LUCK that bring them power and wealth now, it will be LUCK that that their kangaroo regime and Singapore economy will last . We see that the Singapore Flyer is one example where the gahmen trying their luck and endup in bad luck.
to lose 400 mil in 5 months is like giving 20 million each month or giving out 750k per day. They tell you to give generously to charity and they spent public money as if they own them. There are no heads chopped?
GIC non-disclosure rules and sleeping govt officials are cocktail for troubles. If SIN reserves is $500bill as claimed by many foreigner research & bankers, our 41.7% loss would have surpassed $200 bill. not %58bill as said. We have lost almost half of our national reserves /public monies if this is true.
aiyoyo
fat U? L shaped problem? OMG
wah elites got the super scale pay packages, benefits etc..
what solutions in place? if really go into these scenario, what’s next step?
expect man on the street to ‘tong’ until economy recover?
not sure how to survive if economy no growth for years???
aiyoyo
SY,
Don’t try too hard. Save your words for places where you can make a contribution.
Readers here are too pent up that they have lost their mind on what they really want.
The lack of personal and political choices have resulted in people, who feel that they lack control over their own desires, to put all the blame on the government, thinking that it is the government who is responsible for their miseries.
If people can become less reliant on the government, then political freedom comes naturally because people don’t need to vote for PAP anymore.
But bear in mind that Singapore’s achievement is not easy in the first place, and even today continued progress is not any easier.
So people really have to ask themselves what they really want…
My shape to you is this: _|_
56) 1c
you are right about one thing, continued progress is not any easier, especially if we depend on the same economic models…
however 1c, you are very wrong about some stuff, and that’s your own assumption…people who make assume too much like you is trying to make an A.s out of U and Me.
why do i say that, for some of us, it is not a lack of personal and political choice, we want something to be done to improve our economic model…and for our fellow citizens who are suffering.you can’t always depend on the same old formula…look at how organization that has depend on that has collapse.
“If people can become less reliant on the government” Please, are you trying to be funny? can you show me prove that Singaporeans has been reliant on the gahman? or has the gahmen been reliant on Singaporeans input for their lucky investment? Singaporeans contribute not through income tax, but through our CPF portforlio and even GST whereby everyone, is paying for it.
and asking ourselves for what we want, the answer is above. we want the best for SGP, no matter who is the one who can bring about it…
1c, i think you may have lost your mind too, or maybe it is the eye, since you assume too much, and your argument lacks substantial foundation…however, why do i say that you lost your mind? it is just to show you that one man’s meat is another man’s poison…to you others may seem to have lost their mind, but to others,like wise, you have either lost your mind or your eye…and the best way to avoid this scenario is just keep those insults to yourself….
This is the sad fact about a compliant media … where are the hard hitting questions? Has anyone quizzed the government as t whether its stimulus package worked to stem the unemployment rate, boost domestic consumption and confidence???
Is this really the PM’s words verbatim? If so, his command of the english language is frighteningly unpolished.
Hi
SY,
Just my humble opinion.
Our government takes credit when economy is good to justify a pay increment (mind you, their pay is already sky high). If our business model is such that we depend heavily on the global economy so what is so special and extraordinary capability about the ‘A’ team that were hying here? If it is really so, then why so conveniently pushed the blame to others when we reach a down turn?
Our model has it’s fair share of criticism during good days. Inflation shoot up. Things are generally getting more expensive. Flats, food, etc. Now that our economy nose-dived, we are facing job uncertainties and retrenchment. To a low or some middle-income families, the scenario is like – good times: i struggled to keep up with the daily expenses, bad times: i am staring at my kids with a retrenchment letter in my hand.
If our model is going to continue, this cycle is just going to repeat. To a commoner like me, i can only stare at the wealth of my MPs during both good and bad times.
SZ
You points are excellent. Really sums up my feeling.
the pm is honest with his words but he did not remember, he took pay rise of millions to be the best paid team of the world and citizens have very different expectations of what they need or must do for the economy.
since he said recovery is maybe mixed or bleak, he should also look at the cost of living where his team kept pushing sky e.g. DPSS HDB 5 Room at Ang Mo Kio Peak is asking for $1.5M. so many instances, that the government kept raising cost of living despite poor economy. even taxi drivers are finding so hard to make $50 a day despite fare hikes. and how many of the shops have opted to close since glcs like capitaland etc are not reducing rental. every cost is kept high, something i dont understand.
sometimes i like to sympathise with his words or feel that he is right but when i saw how his team of people who made millions and blatantly raise cost of living out of reach for average citizen, i dont feel for him and his team anymore.
Our PM does not seem to have the right composure when the pressure mounts. Even when he was younger.
Just read an article (The Sunday Times, 3rd May 2009, Page 33) by Lee Wei Ling, there is one paragraph that highlights his priorities in life. It is as follows:
I thought that giving care and love for the kid (at that stage in life) is more important and it should the first thing on their minds. But no, they (father and grandfather) were worried about the albino’s national service eligibility.
And these are our leaders.
Thank you Law @ 60).
And yes, this cycle will repeat itself, over and over again…so what even after we have recovered? environmental disturbances occur again, and the fall will restart.if we don’t try to shift it to a more stable model at the expense of high growth, we are just inviting ourselves to go through the scenario again. prevention is better then curing, and that’s what people like Mr Kenneth, Mr Tan has been trying to advocate…a shift to another model, with lesser dependence *take note, not no dependence* on export. although it will be hard for such a small country to move away from its dependence on such a convenient model
However, saying all this is easy. but action speaks louder then words and i just wish there is something we can all do.
the middle class in-between the sandwich very big must do something lah, must get creative ways to push some to the bottom. if the middle of the sandwich continues to grow, no good, no good…
so all those PMETs be thankful if your re-employed, lower pay nevermind, got some money very good liao. next time can earn more, but i cannot guarantee lah (up to bosses de mah).
he should be thankful..shoe throwing is not a sport here! Ya sure…help the management level…several yrs ago…a retrenched friend..in the banking sector…was introduced by them to take care of strayed cats n dogs dept!..and 2 yrs ago… a retrenched friend…also in banking sector.. seeked his MP…the one who will cry at a drop of a pin…for help. And guess what? he asked him to take on a job as a hdb inspector for “broken this and that”…
<>
do you really think he doesn’t know that expectations rises with pay? and also about the problems that have spun out of control?
the bottomline to consider is whether you believe that his team is trying their best and it’s difficult to do better.
(to a certain extend, i believe it is true: people in the civil service are either deadwood or high-flyers wannabe, and its the high-flyers who are expecting pay rises and promotion, and are most likely to leave. and if you believe this is the same everywhere, then you have to seriously consider the possibility that talent is scarce in such small population)
and if you considering to shift the responsibility to the free market, do you think people are ready to also accept ill-effects the free market brings?
it’s best that the government become more transparent. it’s for the good for themselves and the people.
#58 SZ
you are right about one thing, continued progress is not any easier, especially if we depend on the same economic models…
You have to realise how little domestic consumption can boost GDP in a small population. Around the world, small nations without natural resources heavily depends on exports to grow. So to become less susceptible to cycles in global demand by reducing exports is to reduce growth during good times too.
be funny? can you show me prove that Singaporeans has been reliant on the gahman? or has the gahmen been reliant on Singaporeans input for their lucky investment? Singaporeans contribute not through income tax, but through our CPF portforlio and even GST whereby everyone, is paying for it.
Personal income taxes and GST takes up less than 20% of the govt revenue. It is in the revenue report on MOF’s website. This issue aside, why do some people complain that the govt is not doing enough when they are not dependent on the govt?
[i]Don’t try too hard. Save your words for places where you can make a contribution.
to put all the blame on the government, thinking that it is the government who is responsible for their miseries.
Readers here are too pent up that they have lost their mind on what they really want
So people really have to ask themselves what they really want[/i]
the resignations of the WHOLE pap party for a start?
what do we the peasants got to lose
ANYWAY?
What Jack Neo had said was partially right.
We have been reminded constantly to be prepared for ‘bad’ time(my word) and since the people have been repeatedly ‘warned’ or ‘pre-informed’ they ‘should not blame’(my words) the Leaders when their repeated forecasts/warnings, strike.
However, to say that they(leaders) did not provide solution(s) may not be very accurate. The People were told that we maybe lucky, at least there was mention of a solution, if it qualifies as a solution at all. But at least it had been suggested as one possible solution.
Jack Neo had been too respectful, otherwise i would have expected him to probably suggest that all parliamentarians and superscale civil servants’ remuneration be reduced by 30%. 30% of their pays could be many million SIN Dollars per month which if put into social welfares, would benefit tens , if not hundreds of thousands of Singaporeans.
As a lowly educated layman, i need others to help enlighten me on why are our essential goods and services and the commercial sectors keep raising the costs of their wares and services. SERIOUSLY, IS THERE SUCH NEEDS TO CONSTANTLY RAISE THEIR PRICES ? IS IT JUSTIFIABLE ? i sincerely hope there would be some responses to my query.
patriot
This quote reminds me of the one by our honourable DPM Wong on Mas Selamat
“Mas Selamat is either in Singapore, or he is not”
Wow – we need a million dollar paying DPM to spout such thoughtful insights.
SPUR-JOBS to provide up to S$400k in co-funding recruitment, training
reported by cna
Companies in Singapore can now receive a grant of up to S$5,000 per worker or up to S$400,000 to co-fund costs incurred in recruitment and training.
Why no comments on this one?
My children also know that their grandmother is female.
U, V, L. Who really gives a F? What we need are lower GST/zero GST for essential services, removal of ‘live in Singapore’ fees (TV & radio license, water appliance fee, etc), a stop to PRC blue-collar immigration, priority for citizens in public service jobs, subsidised public services (not cost-plus), lower HDB prices and free healthcare for the elderly.
another great prediction – like how our trade and industry officials always give overall trade figures estimate that changes every quarter?
Macham like actually they cannot forecast, but can only give a figure on hindsight?? When all the dust has settled, they said – 2007 – budget surplus of gazillions after GST raised from 5% to 7% hahaha!
Dear Bot,
IMHO, again another hare brained scheme to help companies but not individuals. What is the use of training when there are NO jobs and No income and big bills to pay?
Have a read on the BBC on the need to cut back on an export reliance economy.
http://news.bbc.co.uk/2/hi/business/8031456.stm
When have the government listen to the people? We are quite sick and tired of their multi million dollars comments. The day will come when they ask why are we not in office anymore?
Did I hear we are one of the 1st country to slip into recession?
Hi SZ, Law and others who replied my thread,
Just a quick note that I read your follow up posts. I respect your viewpts. The possibility I am wrong is never far from my mind, but I do have my views.
The debate over supply side vs demand side stimulus can go on forever, but for a number of reasons, I take the supply side. And I believe it often takes a govt more resolve and courage to stick to the supply side. And in this context I believe the current govt has done well and deserves some credit.
Hope to discuss again soon.
78) SY
Great to see you, and glad to hear that you are sticking to your side…and hope you have manage to unlock some part of the logical mindset, since originally you don’t need consumption to produce, even when there is no export.
“And I believe it often takes a govt more resolve and courage to stick to the supply side” I am so happy to hear that Dear SY….but you seem to have forgotten something that is very logical…courage and resolve doesn’t mean that it is smart and right…if their courage and resolve leads to no productive result, what is the use? what people want over here is result. Period. we can talk about guts, resolve, determination etc etc, however, if you fail to produce the result, you still fail….
you never win the silver dear SY, you lost the gold. Charles Darwin says that “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” and likewise, it is the truth…no matter how smart, how strong, how much resolve…if you don’t change, you will be extinct sooner or later.
“the current govt has done well and deserves some credit.” Sorry, credit from the people will only be given after the result has been produced. This is not some banks whereby management produce paper growth and can claim credit and get incredible bonuses…look where that leads to…
Hope to see you again my dear SY, and btw, do take a look at post 76 and that link (*o*)
Oh yes, in the end, it is all due to perception. Look at how people can have different view of the aware fiasco…if the situation is vice-versa, their views will change again to meet what they perceive…
‘Have a read on the BBC on the need to cut back on an export reliance economy.”
This news might just trigger some freaking senile old man to remind us that “there is conspiracy to do us in” again.