Growing dichotomy

Lee U Wen wrote a piece in the Today paper today. What he said, from what he had observed, is the growing dichotomy between the govt and the people but without the govt knowing it. Both are talking but not listening, each going its own way. The govt just want to do this. It is good for the people. No way the govt is going to stop this annuity scheme. It is well thought out. Only how it is going to be cooked. The people are saying all kinds of things and all kinds of options and alternatives. The govt did not hear anything. Just appoint another committee of wise men to come out with another solution. This is an unique case of talking and communicating but not listening, not wanting to listen. I am going to do this. Say whatever you like. I am going to do it. I am the caring govt. It is my right to intervene. What your money? You want your money? You can't handle your money!


Anonymous said...

I see the basis of the arguments and here's my view...

I think, the illiterate poor may not understd much abt all these, whereas the wealthy, 66000 plus millionaires and affluent PMEBs types probably could not understd why the forummers kick up a fuss over such peanuts. Anything 6 figures or less is really peanuts you know. So it seems that only a certain segment of people are feeling the heat from all these. And I sense that the degree of unhappiness is proportionate to one's current level of financial independence.

That cash in hand is worth two in the bushes holds true in most situations. And solving a future problem is less important when one has more urgent needs in the present moment. The irony is that the ones who badly needed cash at the present moment are told they cant do so, but instead are given retirement credits which does nothing to save them from current day to day dilemnas and distress.

Do I get that? In the new regulations, people who are badly in need of cashflow to solve their finances with their own money, are ... not allowed to do so. And that's a favour?

Anonymous said...

"Say whatever you like. I am going to do it"

Makes me wonder about all the calls for feedback. For what purpose if they are not listening. They are treating Singaporeans like 'children', be seen but not heard. 'Children' whine all the time, but that's what 'children' usually do. 'Children' forget easily. The Government hopes the 'children' do not grow up, so the nannying can continue election after election. Sad.

Anonymous said...

You want your money? You can't handle your money!

... becos the national coffer needs to be protected

Anonymous said...

You want your money? You can't handle your money!

... becos the national coffer needs to be protected
September 26, 2007 11:55 AM

means those financially unprepared for retirement who will affect the state is the more important issue.

Anon.Dimwit said...

Say, are you prepared for your retirement years, dear Red Bean?

I don't see leaving Singapore for good as my option or choice. But to work hard, accumulate & manage my wealth - however little - my way, my own.

Maybe a bit like typical self-employed in Sg, I'll hv n deal with:
• meagre CPF (all or bulk used in housing), • manageable assets,
• cash-loaded (as much as I try),
• growing medisave (compulsory contribution bo pian),
• aspirations to work towards,
• mobility (health, time, energy, money) to travel explore & experience the world outside..

Hope this little sharing out loud contributes constructively a bit to this blog.
Cheers! :)

redbean said...

i will probably work till the day i drop dead. but my dream is to have enough to wander around the whole of china, just to look, see, move on, look see, move on, and enjoy the freedom to live life.

redbean said...

what anonymous 11:36 said is exactly the situation. those who have all money don't bother. those who don't have also don't bother. those who have a little will be the worst affected and will not want to be pushed around.

maybe i correct myself about those who don't have, like mdm heng. her $20k in the medisave can bring a big change to her life. but no, no one is going to do anything for her. and neither can she do anything to touch her $20k except to admit herself into hospital.