4/23/2018

Choice between real economy and paper economy

In the 1980s Singapore came to a cross road in economic growth. Manufacturing was maxed out in this little piece of rock. Manufacturing needed space to keep the solid stuff, the goods, the material. Singapore could not waste more land for manufacturing. There were other factors like the neighbours catching up as many of Singapore's manufacturing were low skill stuff. The pride of Singapore then, the highest level of technical product was the Rollei camera. All the manufacturing products are history.

Singapore opted to go into the service industry, which is not a wrong choice. Medical services, education and financial services, logistics etc etc blossomed. The financial services grew faster as nothing can make money faster than printing papers and cooking the books with numbers, and of course gambling. I am not referring to the two casinos. They are chicken feat. The gambling in Singapore is beyond the imagination of the ordinary masses. Gambling is big and full time by the financial institutions and banks and the so called investment agencies. You heard it, investment is the disguise or another sophisticated term for gambling big time.

During this period Singapore played tutor to China, a developing country just coming out from isolation and joining the capitalist market. China learnt everything Singapore could offer but chose a different route. China is going big bang in manufacturing, the real economy, not shuffling papers and printing digits to churn out profits.

Today, China is the factory of the world making anything from the tiniest button, screws or toothpick to mobile phones, computers, high tech equipment, satellites, military weapons, anything that is needed and wanted. The Chinese made them all and in cheaper and better quality and quantity. China is producing everything that the world needs, the real stuff, the real economy. China is also in the services, but not so much on financial services, but building infrastructures like roads, rails, high speed trains, ports etc etc, logistic services to facilitate trade and commerce, the real stuff that are needed for better life and economic growth, not the fake economy of churning out numbers for growth, not gambling. The Chinese earn every cent they could make the hard way, by making them.

Singapore prosper with the fake economy, making money without having to produce anything. Our reserves are plonked into papers, stocks and shares, derivatives, bonds etc etc. The risk, the inflated fake economy, is like a balloon waiting to be pricked. When it goes bang, everything would come down to zero, especially the artificially inflated wealth built on properties and assets. And when the fake economy goes bust, the real economy would continue to steam roll ahead.

Singapore has nothing to fall back on in the real economy other than HDB flats that have a life span of 99 years. The only real thing Singapore is producing is shit water for drinking, to compete with the likes of Evians and other natural mineral water. What else did Singapore produce? You tell me. Singapore does not even make bicycles.

The real stuff, the bricks and mortars, the consumer goods, the demand would still be there, still be needed. What would happen to the fiat currency, the fake papers and fake values and fake wealth and fake prosperity? Even our education and degrees are fake in a way. What is the point of having degrees that cannot get one a job? A genuine fake degree from the degree mills, or from funny universities, is more valuable than a genuine degree from a world class university if it can land the holder a job. This is the real economy.

21 comments:

Anonymous said...

GD morning uncle RB.
Actually for the past few decades this tiny red ridding hood did nothing to the economy itself. Yeah how? By IMPORTING FOREIGNERS OR FOREIGN TALENTS (fake or real nvermind la).

Virgo 49 said...


Without SOLID industries to call your own, only on paper commissions selling your services, MOT, when services not required.

Due to others also providing better cheaper quality services, you are DEAD Ducks.

Always only Service Providers. Low class.

Years of headstart into technology, innovations to produce our very own been spent on acquiring instant redundant companies that are dying.

Never learnt from CHOP HOO THYE saga. Solid business turned to fast investments and goes Kaput.

One Time Abalone King.

Those who can only produce Papers for Monies are those enconmies that have no choice with NO investments of Real solid business in their States.

Not an well educated workforce just providing paper services and using their mouths to con a living.

Last alternative have to sell front and backsides.

Anonymous said...

Uncle RB //What else did Singapore produce? You tell me.//


Michelin One-Star "The Noodle Story" in Amoy St Food Ctr. Per Bowl $8, $11 or $15. Cheaper than Ramen. Lunch time crowd Q longer than $12m HongBao Toto?

Virgo 49 said...


Celebrating what's farking Centennial Birthday? ? Need 3800 volunteers.

Make people laugh at your nightmare still sleeping economy of been service providers till founding of Raffles.

Beggars for as acting Commissions Agents. Must kept looking for alms from Principals who are your Lords and Masters.

Earnings on paper or electronic submissions on behalf of Principals in servicing their cargo.

Paper for MONIES insurance agents. One very good example of a Two or three men or ladies outfit serving the Johore Malaysian immigration.

Now at one DONT know whether still exists hotel room.

Previously done by the JB Immigration dept on MACC approvals for fast immigration clearance at only RM30 for a year.

This bloody idiot offered their service at Sin should be now at least 60 to 100 per annum.Also need two trips to collect your Passports Approvals.

Last time on the spot within half hour by the JB immigration. They worked faster and cheaper than you Sinkies. You beggars earning on commission services and still ya ya papaya put on airs to us when we went for our applications. Thinking they are JB immigration officers.

Hope that they took back their duties and you beggars commission agents Chiak Sai.

Fortune said...

Singapore is only a CITY run by a FULL complement of the Government of a well-developed country.

As far as comparison is concerned, Singapore can only be compared with small cities in other countries. She should never be compared with any COUNTRY, good or bad. Worst of all is to compare her with huge countries such as Australia, Brazil, China, India, Indonesia, Russia or USA. It is like comparing a small piece of gold with a gold mine.

What makes Singapore tick? What makes her the 9th Rank in the world in terms of GDP per capita?

There must be a magician that is helping Singapore to continue to excel. There is a Special Goose that lays the Golden Egg everyday. However, owing to the urge of uncontrolled greed, somebody has his itchy hands cut open the belly of the golden goose to get more golden eggs out of it. The magical golden goose died. There was not a single golden egg inside its belly.

Moral of the story:

DON'T keep meddling with the people's CPF savings. When it is exposed, it will be EMPTY inside.

Anonymous said...

Redbean why so negative? Singapore is well run and well managed. Last year Singapore had a big surplus and it looks like 2018 is going to be the same. Take a walk through the CBD at lunchtime and you will see the bubbling financial crowd all nicely suited and discussing the billions passing through Singapore. Manufacture is small change compare to the financial activities of Singapore. Don't worry about your future and the future of your children and grandchildren, the PAP government will still be in power for another 100 years and everything will be OK. Trust them.

Anonymous said...

If what you read in the media is true, the garment would be throwing money to every Singaporean and bragging how much they have made from their investments.

The contrary is true. They have nothing to brag, no figures to show you how much they have made or lost. The only thing that is real, they are desperately levying all kinds of taxes on the people, some so ridiculous and atrocious.

What do you make out of these desperate measures to tax the people if they have so much money as they have claimed? Got so much money still need to tax the people?

Anonymous said...

@12:43 Got so much money still need to tax the people?

What's wrong with making more money?!?!?!

PAPies, elites & Singapore Inc are all doing very well, and bathing in $$$$$$ daily.

It's only you losers here that are being fucked ... coz you're lousy anyway. Hahaha!!!

Anonymous said...

Rb even pushing papers we are loosing to hk as most financial services for Asia operated out from there. Sg only big in forex the big casino market leh

Anonymous said...

Probably the garmen already knew that in a couple of years time or decades down the road the Garmen is going to run out of monies cos its people may need their CcPeeFxx monies back & hDeeBee lease coming to end, that's why they keep upping the taxes & gst taxes to prepare for a rainy day. Probably with the BRI project completed Sinkieland future will be in stormy waters.

Virgo 49 said...


Anon 12.22

CBD all Financial Services? ? Must be working in Jurong Island or at the old GES at Raburn Park next to my Block. Or at Loyang Offshore Base.

Most bulk Shipping Agencies.Insurance and Property Agencies.Paper for monies commission agents. Liar Firms. LOGISTICS and warehousing services and also papers for Monies companies.

Shipping operations depending on ships husbanding, handling agents. General Shipping documentactions for MONIES.

Warehousing and operations servicing.Also at Principals mercies.

When the neighbouring countries can do as much and as much cheaper than you, Chiak Sai.

When the One Road One Belt in full swing.You gonna hang yourselves by your own belts.

Shipping hunkering and supply of ships husbanding no need your Tuas Mega Port.

They have Mat land and Indon and Thai ports to call at better route turnaround time.

Isthmus of Kra potong and you dead ducks.

Malacca and Kuantan Ports readytic cut down the transit time and you have to cut your beautiful Gardens by the Bay leaves and grass to make soup.

Only bet Marina Bay II in front of old Keepel Container Port.Built and sell all of Singapore.But if world economy is in doldrums, then lay Loong sell backsides.

Anonymous said...


Virgo 49

the pictures you painted very very very siong leh

like that what should we do now

you say lah you say lah 😕😈😢!

Virgo 49 said...

Hi Anon 5.52

Simple, very simple. Have the Guts for complete change of Government.

With these dead wood, nothing will change.

Singaporeans must have the Guts for change of Government.

Have the capable in charge of all respective Ministries and businesses people to be charge of business.

In times of uncertainty and change, REAL capable people will step up to save the Nation.

See what's happening in other countries like Philippines, Indonesia and the Koreas.

There are capable people smarter than the PAP duds who will bring the demise of Singapore.

Just prepare to bear with the change and pains if any.

Just like the Spirit of the Forefathers.

Cheers

Fortune said...

HOW TO MAKE SINGAPORE GREAT AGAIN?

The self-enriching and self-glorifying leech-ders who are now ripping you off in every way they can, reaping the fruits of yours and your fore father's labour; the chronic subservient-mentality civil serpents who are too deep in the shitty swamp of serving their Overlord; and the parasitic cronies living off the pillage through the rub-off influence of the dictatorial power of their respective patronages - All THESE must be CLEANSED and CORRECTED before Singapore can move forward again and BE GREAT AGAIN!

Singapore does not need another Lee Kuan Yew. What Singapore really needs now, at this juncture in her short independence history, is someone like Donald Trump - to make Singapore Great Again - not the way LKY did it, but an Entirely New Way, a new approach, a move away from what the PAP has been doing, which are:

1. Protecting the rich, taxing the poor.

2. Favouring foreign talents, suppressing local talents and leadership growth.

3. Stifling initiative, innovation and creativity through military-style dictatorial measures and autocratic draconian laws,

4. Through the use of Temasek Holdings to inflate and control property rentals and through HDB to inflate and control property prices in favour of the landlord and the filthy rich,

5. Through Temasek Holdings and Government-Linked companies to compete against and suppress local businesses and entrepreneurship to grow, expand and flourish,

6. Through the total dictate of how CPF savings are to be used and deprive the CPF Retirees of a ready source of fund to start a second career or retire comfortably and happily,

7. Through heavy and numerous taxations (both reasonable and unreasonable) to increase government coffers and increase lavish and glorious spending, thereby reducing the commoners' purchasing power and take-home usable income.

Those are the SEVEN MIST ITCHY PROBLEMS that MUST BE SOLVED!


What are the solutions?

Very simple first step is to remove those who are creating the problems for the COMMONERS.

2nd step is for the COMMONERS to protect themselves by doing the first step.

3rd step is for the COMMONERS to VOTE EN-MASS for ALL OPPOSITION PARTIES!

4th step is for the COMMONERS to support a strong Opposition Party the way you have been supporting the PAP.

Fifth step is for the COMMONERS to unite behind that Opposition Party.


Can you do it?

"Yes, WE CAN!"


What are you going to do?

"MAKE SINGAPORE GREAT AGAIN!"

Anonymous said...

Big bucks can be made in financial services. It remains one of the best paid industry consistently. It is an essential industry in modern credit-based global economy. A poor guy usually get rich by being a successful businessman of by being an established banker. And in Spore of course by being a PAP minister. It is crazy n foolish of Spore govt to give banking PMET n very senior banking jobs to foreigners.

Anonymous said...

More concerned about our cuntry run by paper generals who know nuts about the global mkts & the real private sector & enterprises. We have a PeeM who cannot stand on his own 2 feet, in the past on his dad, then on his dad's death and now on angmo Raffles. When is he going to grow up & stop being a laughing stock? When is he going to be not in-secured and stop surrounding himself with more paper generals?

Fortune said...

Singapore -when led by a lawyer - Lee Kuan Yew - the Laws were used to run the country and control the people.

Singapore - when led by an economist - Goh Chok Tong - Pricing was used to administer the country and screw the people good and proper, and hit where it hurts most.

Singapore - when led by a bookworm scholar who excels in academic mathematics, and an ex-general in the military - Mathematics in Dollars and Sense, and Military Approach are being used to administer and control the country and people.

What Singapore needs next is someone who has a heart to the COMMONERS' welfare as well as a good business sense, to lead the country.

Anonymous said...


hahaha......

we need a change of govt?

but you tell me where to find the people?

WP? SDP? NSP? etc etc etc.......

are they ready?

so tiny city state, already so many opposition parties

so you think next GE the PAP will be below 70% votes?

I think smelly smelly will be at least 75%

sg is like that......when come to voting....PAP!

hahaha.....,😄😄😄!

Anonymous said...

Bad luck to remove resting place.

Anonymous said...

Not to worry.nothing due will
Happen to d economy.

Virgo 49 said...

Parachoical thinking.

Making big bucks just for self.

A Government or even Respected Soically Responsible Creature has not only make monies for self but also created jobs in hundreds,thousands if not millions for countrymen.

Listen to Jack Ma talks of not only IQ,EQ but also I��Q.

Successful enterprises and Governments CARE for its people.

Not prosecute and skin them till bones.Or DRY SUGAR CANE RESIDUES.