The incongruence of long term result versus short term tenure

‘SINGAPORE: With the global economic outlook uncertain, Singapore will have to ride the ups and downs in the short-term, but its focus must remain on the longer-term, said Prime Minister Lee Hsien Loong on Monday (Feb 8).

This means focusing on skills upgrading, as well as giving productivity and training a bigger push.’ CNA

There is now an obsession about looking long term, look far ahead, the further the better, like looking forward towards SG100. This is the most comforting position for anyone in charge, in govt or in business, getting paid today and saying the results will be good in the long term. The pay is real, collected every month, the result is like fairy tales, long long time ago. Who knows what is in the long term, the person in charge would not even be around to see the result or the big flop.

Big corporations hired CEOs and paid them handsomely, in many millions to see results, immediate or in the short term, a couple of years. That is the duration in which a CEO is hired, to perform, to deliver the results. How nice if the CEO can collect his millions and tell the shareholders, look, I am planning for the long term, in 20 or 30 years to bear fruits. I am planting a durian tree. You will see the fruits in 15 years time. The fruits will be good. Trust me. Is there any guarantee that the fruits will be good?

This is the concept of instant gratification and delayed performance. In fact the CEO need not bother about the results in the long run. He would not be there but happily collecting his fortune in the present. There is a mismatch. A CEO is expected to perform immediately. He is hired to deliver now or be fired.

Our democratic system of govt is renewable every 5 years. An elected govt is elected for a 5 year mandate. They need to deliver in the 5 years in office. The system expects a govt to perform in the short term, 5 years. There is no grace or privilege to wait for the long term. This is one of the major flaws of a democratically elected govt. They can be changed after every election.  So, how does it appeal to the people that the govt is working only for the long term and not so much as for the present?

It is like the money in the CPF.  It is for the long term, not sure how long that is, perhaps up to 100 years. In the mean time, no money to pay for food and medical and can die tomorrow is not a concern. In the long term it is good. Now you die your business.

How to reconcile this long term and short term mismatch? Do the people elect a govt for a 5 year term to work for the long term good? Who is to know the consequences in the long term of a bloated population in a small piece of rock? Who is to know the adverse impact of so many foreigners who are given citizenship now? Who would know the impact of our education system in the long term with all the policy changes today? Who would know if Singapore is still an independent country like it is today or be taken over by foreigners in the long term? Who would know if the new citizens today would drive out the pioneering Singaporeans one day?

Long term got guarantee or not?


virgo49 said...

PAP is so confident that the daft sinkies will vote them high water or Hell that they foresee they will be in power till SG100 if there is one.

Same plots of every what master plans and projects overlapping their tenure of five years so that the selfish sinkies that think that these will benefit them will vote them for continiuty.

Hai keow yew and soothsayers forecast of long term dreams that you may never live to see them.

Then, if things really not up to expectattions, they will simply shrugged off as Well, times changes and we do not expect these to happen. Honest mistakes.

Let's move on

Anonymous said...

// Long term got guarantee or not? //

Every time YEW hear "LONG TERM", don't even go near with a gazillion-foot pole?

Anonymous said...

// ‘SINGAPORE: With the global economic outlook uncertain, Singapore will have to ride the ups and downs in the short-term, but its focus must remain on the longer-term, said Prime Minister Lee Hsien Loong on Monday (Feb 8).//

But ...... but ...... the famous British Economist John Maynard Keynes who got the world out of the Great Depression in the 30s and 40s with the publication of his magnum opus in 1936: " The General Theory of Employment, Interest Rate and Money" made a CONTRADICTING but HARDTRUTH statement leh:

"In the long run, ALL WILL BE DEAD."?

So should YEW trust snakeoil salesman who pitches his sales on the "LONG RUN"?

Ⓜatilah $ingapura⚠️ said...

The Japs used to pride themselves of planning for the next few HUNDRED years.

Looking at present-day Japan, someone should go to their Emperor and ask "You know that 400 year planning of yours? How's that working out for you?!?" Then quickly run away before the cunt realizes he was insulted, and sends his samurais to make sashimi out of you. 😂

Sometimes the best thing a leader can do, is shut the fuck up, and by doing so increase peoples' respect and confidence.

Anonymous said...

Do you think we are still living with the effects of Saw Phaik Hwa's long term planning at SMRT when she was the Millionaire CEO?

Fuck Yew.
and Vote Opposition.

Anonymous said...

If a director in a government ministry can get paid up to S$500,000-00 per annum excluding cpf, bonus, increments and other incentives as a civil servant where is the ACCOUNTABLITY when the is gross NEGLIGENCE in the SGH where 8 human lives were lost directly & indirectly due to contamination.

civil servants should set a good example @ return excess salary to State!

The the median salary of the cabinet is an astounding, jaw-dropping 7- digit figure !!

Anonymous said...

While Singapore citizens take decades and struggle and compete with FT to get a job to pay up a pigeon-hole sized HDB flats /condominium these top civil servants/ snr ministers can easily fully pay up a new 5- room flat in a MONTH or two !!!

Anonymous said...

Best of all NO retrenchment for them when the economy is down just blame on the external factors while Singapore citizens in private sectors MUST on top of the competing with outsiders for jobs while fulfilling their NS duties ALSO face the high chance of getting retrenched when the company is not doing well.

BUT civil servants pay high high 6-7 digits per annum so shiok !!!!

see the SGH gross negligence is given a very very low profile by with the STATE controlled-media now !

we need more transparency and an independent media that CAN speak up for us

Anonymous said...

The PAP Millionaire doctor (who specializes in examining human arse holes) koh poh koon explains that:

"Over the six-year period between Jan 1, 2010, and Jan 31, 2016, the Competition Commission of Singapore observed that listed prices for Octane 95 petrol moved in tandem with MOPS prices, says Minister of State for Trade and Industry Koh Poh Koon."


Below is a link to the USA gasoline price chart over the same 6 year period between Jan 1, 2010, and Jan 31, 2016.
- USA spot price of unleaded gasoline in US$ per US gallon
- the American market is a free market


1 US gallon = 3.79 litres
1 us dollar = $1.40 Singapore dollars

Ask the PAP Millionaire Dr Koh to produce a similar 6 year price chart for the Singapore gasoline prices.

Talk is cheap. Follow the money.

Veritas said...

Actually without foreigners, who are going to buy your condos when you need cash at old age? Foreigners are bailing us out giving us $ to pay for treatment of cancer.

First thing is never have asset inflation. 2nd when there is asset inflation, we need to dance till the music stop.

Or are there any better solution?

In my opinion we cross the point of no return.

Anonymous said...

@ March 01, 2016 1:08 pm

I've reproduced the same unleaded gasoline spot price chart as above.
But this time to also include the percentage change in price using 1st Jan 2010 price as the base case.


As you can see from the link above.
In USA, the unleaded gasoline spot price is down 45% from 1st Jan 2010.

In Singapore got such a thing or not ... you tell me lah.

Fark Yew.

jjgg said...

Yo RB...u very funny..everybody crow about the past, selectively ( that's why we still adore lky for all the great he has done n forgetting what a naughty boy he must have been eg SukaSuka imprison people left right n centre) crap about the present ( because we see things as they are) and wish for a better future ( cos the future is like the pot at the end of the rainbow..we talk about it like its something achievable when we all know it's an illusion...like our football team making the World Cup finals and Swiss standard of living)... So what u want our politicians to do ah? Tell everybody that things will be better next year? No la...that's too close for comfort..that's why lky's last major speech delved on rising sea levels... C what I mean? U must concentrate on things that's far fetch n where a negative result nobody will ever give a shit about...hehe

Anonymous said...

@ @ March 01, 2016 1:08 pm


Mr Lim later asked if the MTI would consider encouraging a third party - such co-operatives under NTUC - to run another petrol company for more competition. He likened this to the IDA's (Infocomm Development Authority of Singapore) move to introduce a fourth telco here.
No need to set up another petrol company lah.

Just remove the PAP government's three quarter tank rule at the Causeway.
Then all Singaporeans can compare Johore's petrol prices with Singapore's petrol prices.
And let the free market decide where we should buy our petrol.

Anonymous said...

@ @ March 01, 2016 1:08 pm

/// Dr Koh was responding to questions posed by MPs Lee Bee Wah, Lim Biow Chuan and Ang Wei Neng, who wanted to find out why retail petrol prices do not fall proportionate to the plunge in crude oil prices, and if the ministry intends to ensure that petrol companies adjust prices accordingly.

Citing the 2015 study by CCS, Dr Koh said petrol companies here use Mean of Platts Singapore (MOPS) prices in their cost accounting and pricing decisions for retail petrol, and not crude oil prices. MOPS price is the price at which petrol companies purchase refined wholesale petrol from the refineries, he added. ///


"MOPS is the price at which petrol companies purchase refined wholesale petrol from the refineries" Dr Koh Poh Koon.

And so who owns the refineries who sells the petrol?
The petrol companies.

So the petrol companies ownself buy petrol from ownself and complain the wholesale price is too high is it?

maybe the correct question is why is the MOPS price so high when the crude oil prices have fallen by so much?
Either the retail petrol stations is making the profits from the low crude prices or the oil refineries.

True or not?
You tell me lah.

Anonymous said...

Best explanation of the problem with high frequency trading ever

"The Liquidity Just Dries Up In A Stressed Market" - How HFT Killed FX Trading


Anonymous said...

Those 70% willing to wait,

there shall be all the Time
in the World.

Those that CANT wait, it shall
be perpetual frustration.

Those who died WITHOUT
getting their dues will die
with eyes open big big.

This is the Price for living
in Sin.

Anonymous said...

The example with CEO for short term also not perfect. What happen in 2008 finicial crisis cause by CEO. Don't see far, the SMRT frequent breakdown still happening after the million doller CEO left few year ago.

So short term is no guarantee, long term will be in question.