“Let me tell you what happens when we slow down too much. You get the reverse spiral. Low growth, maybe even zero growth. Last year we had minus two per cent. Prices go down, property prices go down, incomes go down, you can’t refurbish your houses, no new SERS, no upgrading and the country goes down.”
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i very scared
I proclaim that i have lost ALL confidence.
The man’s Theory, doesn’t seem to match the Reality Singaporeans faced, and are still facing.
I rest my case.
That’s what happens when you pay someone exhorbitant and undeserving MILLION DOLLARS $$alaries !! They get COMPLACENT, become CHAMPION-FORECAST-EXTRAORDINAIRE, and delude themselves with HAVING SPURS THAT GET STUCK IN THEIR THICK SKIN.
Slippery slope fallacy la, please.
And he blames Singaporeans for being materialistic? ”
incomes go down, you can’t refurbish your houses, no new SERS,”
This man Lee Kuan Yew has lost touch with the commoners and he is as usual if he is not admonishing, he is futurizing about the way to go.
A broken record played over and over again.
It lacks conviction and smacks of hypocrisy.
PAP is a spent party and it is time they are voted out and a multi-party system is installed.
Pathetic Millionaire Moron LeeKuanYew, he’s trying to hold on so tightly to his property prices, he’s so worried his Million Dollar Mansion will be worth less.
can we change to another fortune-teller please? this one passes out wrong predictions!
property prices did not drop in recession – they rose like hell!
The old man has lost it. Are Singaporeans only looking forward to up-gradings and refurbishing their houses? He’s the one who’s daft that all we think about are issues like that.
Has property prices gone down last year?
Then how come MBT is facing the heat now?
This is a joke.
The old man is losing his mind.
When OLD FART does retire, which I “forecast” to be at 150 yrs old, i will buy him a parrot as a gift, so that he can continue his fortune-telling talent at 四马路. Have a great weekend everyone !
Now, who is “daft”??
for forecasting, one can earn so much money. I really am jealous of this kind of job.
prolly the most rewarding in the world.
This is nothing new. He has been clueless for the last few years. It is only that the average Sporean were not aware of that.
Which year, or quarter of a year did the prices actually go down? I can’t remember but it was … 2007? When it was flat-lining a bit after the resale bubble…
typical strawman argument spotted. they always take it to the extreme opposite, and then argue against the opposite extreme.
日防夜防,家贼难防!
10 years ago, I believe that if I never get a 5 olevel passes; you cannot even be a clerk. However, 10 years later, I see foreigners who do not speak fluent English got a job (clerk) that a Singaporean can do. Can you tell me if a person who has been studying over 10 years did not get a job of what this type of foreigners is getting, then what is the point of being a Singaporean?
Foreigners are being paid low and that is why they got the job. Who would believe that Singaporeans will shunt this kind of job? It must be the super low salary given by the company. Please do not test my intelligence.
Stop telling me what will happen when that is a economic down turn. I am telling you that you are being highly paid for solving this problem not at Singaporeans’ expense. What property price, what gdp growth… I do not give a damn. You do not find and land me a job with a reasonable salary, as demanded given the high cost of living that you landed me in, you failed badly. Out you go from the office. As simple as that.
Oh dear, MM Lee is fast losing his mind. He appears to not know what he is talking about. Last year we had properties rising like mad that is why Singaporeans are complaining so much and this was splashed all over our national papers.I thought he spent time on physiotherapy and reading the papers so how come he thought that last year property prices dropped? This is dangerous. We are having the navigator on board our aircraft not knowing which is North or South. It does not matter whether you are travelling first class, business class or economy. The plane may be going down with such a navigator.
I suggest our Health Minister schedule a medical check up on his mental faculty before he makes a terrible decision that may have a negative impact on Singapore.
You do not find and land me a job with a reasonable salary, as demanded given the high cost of living that you landed me in, you failed badly. Out you go from the office. As simple as that.
Yes, let’s stand united into ONE BIG SINGAPOREAN MASS AND KICK THE ARSH OF ALL THESE MIW OUT OF SINGAPORE FOR GOOD.
the old man ever boast that if he stays in private law practice, he “can” earn several times of his $3.7M annual salary he is enjoying in govt… the questions are
Who will help him to walk into courts and do research for him ?
Who will write his speech ?
Who will pay for his pysiotherapy ?
Who will pay for his holiday ?
Who will pay fo his jet seat ?
Who will pay for his stem cell injection ?
he is a forecaster ? well, let’s see how much losses he and his gang incurred in Temasek’s failed investment ?
He ever said that recession in the west will be buffered by the rise of China and India so Singapore is recession-proof, didn’t we dived into the pit last year …what a world class forecaster !!!
//tiredman
great comment!
Maybe the prices of Oxley Road property went down?
[i]Who will pay fo his jet seat ?[/i]
indeed..even a 1stclass lawyer cannot afford to book a flyin ambulance in 48 hours…
with 1 doctor 2 senoir nurses as escort flyin 1st class…
utterly disgusted by singaporeans. wanting more all the time. you guys dont even know how much stress are they facing. when there’s nothing to grow, they cant grow anything. blame others but never themselves.DISGUSTING
I do not totally agree with MM Lee but this is another political article taken out of context. Please read the link to the original Channel Newsasia article.
I believe he wasn’t talking about property prices going down but the dangers of inflation. You have to realise that our leaders (whether PAP or the opposition) do not want to lead our country to deflation. Japan is a good example of that.
This old man capitalize Singaporean materialistic to buy vote with his perks.
But to say that Singaporean is materialistic, he is simply trashing his own foot with a rock. His reaction is nothing strange since Singaporean has now demand more permanent perks rather than one off vote buying event.
He had grow Singaporean greed that his PAP is no longer able to afford it.