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6/12/2012

Hsien Loong’s speech on growth




Hsien Loong’s speech to the Economic Society of Singapore has attracted critics to question some of the premises that he used. One is the soundness of our SWF and the other, the almost flogged to death horse, the need for more immigrants as the only way for growth.

I read Kenneth Jeyaretnam’s comments on how much was really left in our SWF or the possibility that we don’t really have much money in our reserves. To this I have a simple answer. Our reserves or money available for our SWF is unlimited. Our people will contribute in one way or another to ensure that the funds will always have plentiful of money. The supply is unlimited. Even dictators will be envious of our suppliers of money for our SWF. The people are happily providing the money without complaining or without knowing that they are doing so. Thus they did not even bother to know how much is there or not there. The only thing that needs to worry about is whether the people ended with any money for retirement or hospitalization.

As for more people for more growth, I think the people have not been cooperative, or not listening, or at least the Chinese and Indians. They need to support this policy by increasing the number of headcounts per household. They need to multiply more aggressively, even have more spouses if desperate measures are needed. More spouses, more children, instant growth. And if both can’t work, bring in more foreigners into their homes. The growth formula that is applicable to the country must also be applicable to households as well.

The only catch is that if one has two members living in a 1,000 sq ft flat, having four members will reduce the space per head from 500 sq ft to 250 sq ft. And if there are 10 members, each will only have 100 sq ft and this may impact on the quality of life. Then again it may not be so as some are advocating for smaller units. Dogs being quite comfortable in their little kennels are good examples to emulate. If Sinkies can be convinced to think and live like dogs, then space should not be an issue at all. Just a spot to lie down will be more than adequate.

When the Sinkies are conditioned to accept such quality of living, then having 10 member households would be a normal thing and every household will surely enjoy good growth. And if they want continuous growth then they just have to continuously make more babies to increase the number of people per household.

It is such a simple and logical solution and it is exasperating to find Sinkies unable to grasp such beautiful logic. More heads mean more growth, dummy. The farmers used to share this logic in the farms.

16 comments:

Anonymous said...

Essentially ntg will change. Foreigners will continue to be ferried in by the boatloads, Sinkies will be remain clueless about the actual state of our reserves. Oh wait, the spinmeisters will be working overtime; using promises, empathy, employing distraction misdirection, and crumbs will be flung out which Sinkies now and then to complete the illusion.

Anonymous said...

Why can't the people understand what the govt is doing for them.

Anonymous said...

Fuck you Sir!

Matilah_Singapura said...

What he's talking about is forming capital structures economy-wide.

This takes a long time as capital is "inter-locked" to each other through the goal-directed actions of humans and their enterprises to better their circumstance.

PM Lee just didn't explain it very well. His reasoning is all over the shop. Nonetheless, Singapore is still a very young nation. Impressive as the last 50 years have been, it still has a long way to go as far as growth is concerned, especially in the domestic economy. And at least that is happening.

Anonymous said...

Where is our hard earned money? Can the President take a look at our Reserves? Is there $$ or is there none.

Matilah_Singapura said...

Your hard earned money is gone, as far as you are concerned. Once you pay it (by force) to The State it ceases to be "yours" any more.

Best that you just move on an forget about it.

Matilah_Singapura said...

P.S.

Pres Tony is a hardcore PAP man. SPH, MinDef, DPM -- Lee Kuan Yew's chosen heir at one time.

Good luck if you want him to "solve" the mystery ;-)

Anonymous said...

Anon 9.41 am
If people read Kenneth Jeyeretnam and Christopher Balding factually flawed articles about our reserves, they will not be none too wise. They will continue to wallow in self pity and will not see it.

Anonymous said...

This world is fair. The daft would choose to be dumb.

patriot said...

Will Singaporeans flood the Istana at it's open house to ask President Tony Tan Keng Yam to disclose everything about the Reserves, CPF and whatever that need to be transparent.

Occupying the Istana during it's OPEN HOUSE as guest should be fine. Right?

patriot

Anonymous said...

Economic growth will not save the PAP in 2016

Anonymous said...

Why listen to someone Loony who is as useless as a soiled toilet paper? Not interested. Next please.

Matilah_Singapura said...

Wah patriot. Spectacular idea.

OCCUPY ISTANA!

Anonymous said...

Indeed it will be spectacular if it ever happen. But it never will.

Anonymous said...

It will be betterer to request tony tan to provide the answer in the church when he attend the service. In front of the cross and in the presence of the preacher, a believer should not fail to tell the truth.

Anonymous said...

He answers to a bigger god.