The Govt gorged on the religion of free market principles imported
lock stock and barrel from the US in the 2000s, and have spend almost as
many years winding back their big theoretical error ever since.
Unfortunately, for all the so called smarts they supposedly possess, for quite a number of years they used to benchmark us against HK and seemed to think that we could go down the same path as HK. At that time it wasn’t anywhere near mainstream belief to question the HK model. But I did wonder for a long time how long that ridiculous HK model of ever rising real estate costs, the ever wonderful shrinking real estate unit sizes, stagnant salaries, etc could go on without reaching a breaking point. But somehow, those politicians and GLC top management kept singing those ridiculous tunes which suggested it was a proven path we could also take.
This is a classic case of auto pilot, and monkey see and monkey do on the part of the Govt. And it shows you how independent their thoughts and actions are. And I leave you to conclude whether they are anywhere near as clever and talented as they often claim to be.
The above comments were posted in TRE. The first sentence already showed the foolishness of the so called thinkers or planners, a lack of depth in their thinking, same as Seriously said, monkey sees, monkey do, with no value add or critical thinking. A very good and sad example is the copying of the New York stock market business model, lock, stock and barrel and leading to the demise of the stock market industry. They could not see the difference between an elephant and the smallness of a pea and thought that what were good and applicable to an elephant would also be good for a pea. And now the industry is about to turn belly up.
What about Hong Kong? Is this a good role model for Singapore? Again, from their comments and the things they used to compare Hong Kong with Singapore, what were good for Hong Kong must be good for Singapore, we are going to be in deep shit.
Blindly using Hong Kong as a reference to what we should be, what we could be would be a disaster to Singaporeans. I am not talking about the mass demonstration and rioting in the streets of Hong Kong. Hong Kong has a godfather in China that we don't have. The most ludicrous thing is to think we should have the same kind of population and population density as Hong Kong, our housing prices can go higher because Hong Kong's prices are so high, we have room to grow, our housing are cheap, very cheap compares to Hong Kong and things like that. It would only lead to smaller and more expensive HDB flats.
Using Hong Kong as a model is for the unthinking. But if so called elite, supposing to be very clever people, blindly used Hong Kong as a model, intentionally or stupidly or for whatever selfish reasons, it is unforgiveable. We will all end up having sex in small places and pretend this is a good thing while the rich and elite live in their expansive landed properties that they need to use GPS to move about in their homes.
Hong Kong is successful because China allows it to be. Without China's blessing, Hong Kong will be history. In today's news, a few traitors have gone to Washington to appeal for American intervention in Hong Kong and claiming that Hong Kong's success was due to the special trade status given by the Americans. They stupidly believe the success of Hong Kong is due to their cleverness and this special status. These kids are beyond salvation. They are suffering from the Singaporean Stupidity has no cure disease.
The stupidity has no cure mindset is to compare how expensive housing or transport/taxi fare are in some countries and how to raise our property prices and transportation fare to be as high as these selected cases. They would not want to compare and bring down property prices and transport fares by comparing to those that are cheaper. They would not compare the pay of political leaders and to lower the pay of our political leaders to those that are being paid lesser. Don't ask me why.
Unfortunately, for all the so called smarts they supposedly possess, for quite a number of years they used to benchmark us against HK and seemed to think that we could go down the same path as HK. At that time it wasn’t anywhere near mainstream belief to question the HK model. But I did wonder for a long time how long that ridiculous HK model of ever rising real estate costs, the ever wonderful shrinking real estate unit sizes, stagnant salaries, etc could go on without reaching a breaking point. But somehow, those politicians and GLC top management kept singing those ridiculous tunes which suggested it was a proven path we could also take.
This is a classic case of auto pilot, and monkey see and monkey do on the part of the Govt. And it shows you how independent their thoughts and actions are. And I leave you to conclude whether they are anywhere near as clever and talented as they often claim to be.
The above comments were posted in TRE. The first sentence already showed the foolishness of the so called thinkers or planners, a lack of depth in their thinking, same as Seriously said, monkey sees, monkey do, with no value add or critical thinking. A very good and sad example is the copying of the New York stock market business model, lock, stock and barrel and leading to the demise of the stock market industry. They could not see the difference between an elephant and the smallness of a pea and thought that what were good and applicable to an elephant would also be good for a pea. And now the industry is about to turn belly up.
What about Hong Kong? Is this a good role model for Singapore? Again, from their comments and the things they used to compare Hong Kong with Singapore, what were good for Hong Kong must be good for Singapore, we are going to be in deep shit.
Blindly using Hong Kong as a reference to what we should be, what we could be would be a disaster to Singaporeans. I am not talking about the mass demonstration and rioting in the streets of Hong Kong. Hong Kong has a godfather in China that we don't have. The most ludicrous thing is to think we should have the same kind of population and population density as Hong Kong, our housing prices can go higher because Hong Kong's prices are so high, we have room to grow, our housing are cheap, very cheap compares to Hong Kong and things like that. It would only lead to smaller and more expensive HDB flats.
Using Hong Kong as a model is for the unthinking. But if so called elite, supposing to be very clever people, blindly used Hong Kong as a model, intentionally or stupidly or for whatever selfish reasons, it is unforgiveable. We will all end up having sex in small places and pretend this is a good thing while the rich and elite live in their expansive landed properties that they need to use GPS to move about in their homes.
Hong Kong is successful because China allows it to be. Without China's blessing, Hong Kong will be history. In today's news, a few traitors have gone to Washington to appeal for American intervention in Hong Kong and claiming that Hong Kong's success was due to the special trade status given by the Americans. They stupidly believe the success of Hong Kong is due to their cleverness and this special status. These kids are beyond salvation. They are suffering from the Singaporean Stupidity has no cure disease.
The stupidity has no cure mindset is to compare how expensive housing or transport/taxi fare are in some countries and how to raise our property prices and transportation fare to be as high as these selected cases. They would not want to compare and bring down property prices and transport fares by comparing to those that are cheaper. They would not compare the pay of political leaders and to lower the pay of our political leaders to those that are being paid lesser. Don't ask me why.
///But I did wonder for a long time how long that ridiculous HK model of ever rising real estate costs, the ever wonderful shrinking real estate unit sizes, stagnant salaries, etc could go on without reaching a breaking point. ///
ReplyDeleteShould HK people complain so much?
Whatever taxes they pay are PEANUTS compared to........?
They dun have NS, GST, COE, ERP, CECA, etc, do they?
If they come to..., they will be labelled whiners, cry babies, losers, kpkb, tcss, dafter?
Bc they are NOT "BETTER, FASTERER, CHEAPERER"?
*"BETTERER"
Delete@ ALL
ReplyDeleteHong Kong is a GREAT role model for Singapore. One thing about "models" is that you don't slavishly just copy blindly...like how RB suggests ”monkey see monkey do”
Since we’re the most evolved “monkey” (actually APES), we are more likely to “Monkey SEE, Monkey QUESTION, Monkey ANALYSE, Monkey FORM HYPOTHESES and GATHER DATA.
More important than just wholesale copying HK, is try to find the underlying principles which made them successful and the one’s that lead to FAILURE. I spot one: Their failure to develop a sustainable PUBLIC HOUSING PROGRAM. This is where Singapore can teach HK, our HDB is arguably the most successful public housing policy YET.
What Singaporeans can learn from the Honkies are a more “daring” attitude toward entrepreneurship, a greater appetite for RISK, which includes the financing and funding, especially in the Venture Capital and Private Equity spaces.
No point having a free market if there are not enough people to EXPLOIT IT for OPPORTUNITY and PROFIT.
The current lot of Sinkies do not hv the genetic DNA to change or date to challenge the PApies simply as the old fart said before majority r peasants from China who came here to make a living & this had passed on the next gen & so on. But things might change for the next 10 to 30yrs as Sinkies wake up from it's long sleep. The next Gen will be a mixture of locals & newly converts, some might even hv the aggressive Gene's of the third world bringing along DNA if aggressiveness to topple the garmen, though the garmen r doing everything they can to keep it safe but there is no guarantee to hv the HK protesters style or Matlang Najibchange style kind of revolt in Sinkingland. When the pledge of 'regardless of race, language or religion' is broken, the situation will change to worse uptill an unbearable condition to threaten the Sinkies survival than only the possibility of HK or Matlang style of change might happen otherwise it's a lost cause & kpkb olso no use.
ReplyDelete@ Ah Siao, Economics Ignoramus
ReplyDelete//No point having a free market if there are not enough people to EXPLOIT IT for OPPORTUNITY and PROFIT.//
What is a free market?
Does it even exist?
Definition of Free Market by its author Adam Smith in his book "An Inquiry into the nature and causes of the Wealth of Nations":
1) Perfect Competition (means no monopoly, no oligopoly etc);
2) Perfect Information (means all agents including consumers, firms have PERFECT INFORMATION in every transaction);
3) No Externalities (Means Smoking does not create 2nd hand smoke, forest burning does not create haze for others);
4) Market for ALL Goods (means the market is able to provide public goods such as the roads, pedestrian paths, street lamps etc);
5) Perfect Mobility of FOP (Factors of Production) (means if short of construction workers, office workers including civil servants, permanent secretaries, SMOS, ministers can double up as labourers);
6) Income Equity (means Equal dollar votes, no such thing as rich or poor?).
Such free market can only exist in the illusion of a siao ting tong head?
No?
@RB, @All,
ReplyDelete///The first sentence already showed the foolishness of the so called thinkers or planners///
The 1st sentence already tells me the author is inaccurate & doesn't know own Sinkie history.
PAPies started changes way before 2000s & we copied not from US but from another country. This was a MAJOR POLICY & MINDSET SHIFT that was implemented with an IRON FIST by everybody's favourite hero on this blog --- Old Fart himself.
It was pure luck that Sinkieland had already implemented a lot of socialistic programmes before unleashing full-on you-die-your-biz capitalism. You know many of this programmes today --- govt schools, govt hospitals/polyclinics, CPF, HDB.
Old Fart WAS a socialist, before he backstabbed fellow socialists & proclaimed himself a capitalist.
HK didn't have the benefit of having those socialistic programmes setup beforehand (on a big scale --- they only have on small scale). Becoz ALL ALONG since 10,000BC hongkies don't have culture of voting their govt or rulers. They just take whatever ruler pronouncements & get on with life & making money as best they can. The recent culture of HK (last 50 years) hence evolved into getting rich as fast as you can (preferably by 35).
What they are doing now (demonstrating, rioting, uprising) is the AGE OLD method that serfs WITHOUT voting rights have done throughout the millennia. You see this in ALL the various Dynasty & regime changes in China's own 6000 years of history. Hongkies are merely behaving like what ALL CHINESE FOREFATHERS HAVE DONE!! LOL!!!!!
But you know what?!?!?!
All these just gives me MORE opportunities to buy Hongkie stocks, H shares & even some A shares on the CHEAP!!!! HUAT HAARRR!!!!
I'm not alone ..... Mainland PRiCks also have the same idea & Xi Jinping is exhorting his own companies to INVEST IN HONG KONG!!
PS: My war stocks (as a whole) made YET ANOTHER higher high again last night!
PPS: Had a fruitful & productive yum cha session yesterday hearing about REITs --- the likely prolonged low interest rates around the world make for a good long-term case for REITs. However good quality REITs with good backing on SGX are overpriced now. Those lower quality REITs are more reasonable valuations, but these guys' corporate governance don't meet my standards for long-term investing --- so if I invest in these lower quality REITs, it will be opportunistic & short-to-medium term.
Hi 957am
ReplyDeleteU think u have the genetic DNA yourself?
Hahaha......
@anon 10.30am
ReplyDeleteJuz do your part & VTO in the coming election ho boh.
DeleteYes, sir!
#VTO
ReplyDelete#PRAYDRAGONDIESFAST
Hongkies
ReplyDeletehave a Motherland.
Sinkies are
orphans
adopted by Step-parents that only exploit their adopted children.
Sinkies are consigned, bonded and enslaved.
There
is a high probability of
a military junta if alternative parties win the next GE.
The stupidity has no cure mindset is to compare how expensive housing or transport/taxi fare are in some countries and how to raise our property prices and transportation fare to be as high as these selected cases. They would not want to compare and bring down property prices and transport fares by comparing to those that are cheaper. They would not compare the pay of political leaders and to lower the pay of our political leaders to those that are being paid lesser. Don't ask me why.
ReplyDeleteThis is what selective thinking is all about. Choosing what they want to justify their case, to increase, hike and raise whatever they want to charge higher.
Trump claims that it was goodwill that made him postponed the tariff increase on Chinese goods. That must be the greatest joke - that goodwill ever figured in his trade war with China. The real reason must be as what some said, he is more worried about Americans being hit hard in the pocket prior to the Christmas season and hence affecting his re=election next year.
ReplyDeleteIf Trump's economy is the greatest in the history of the US, why in the world is there a need to lower interest rates. The Fed would be acting contrary to Trump's proclamation of having the greatest economy in the history of the US, if they cut interest rates deeply. Trump is even complaining that the rate of decrease is too low and must be higher.
Now the most ridiculous argument coming out of Washington is that the rate decrease is to booster the world economy. Would you believe that after doing so much harm to the world economy, he is helping the rest of the world to booster the global economy. Or is he helping his own US and his re-election?
And the Americans are trying very hard to find justification to interfere in Hong Kong. But China is not Venezuela, Iraq or Libya. Hong Kong belongs to China and the US had no reason whatsoever to dabble in Hong Kong affairs. But by twisting the facts on human rights and democracy, they are going all out to confront China in Hong Kong.
As a matter of interest, in the rankings of Human Freedom Index, Hong Kong ranks third in the world, far ahead of the US. The US has no moral right to say that Hong Kong people have no human rights and democracy. The facts speak for themselves.
@ War Stocks Guy
ReplyDeleteSingapore pulls out from the Socialist International. (actually, they were told to leave. Rajaratnam was sent to "negotiate" but in the end...)
@ confused about free markets
Markets in and between cuntries vary by DEGREES of how free they are. For e.g. Singapore is more "free market" than Australia or Canada. Trade between USA and China is less "free market" due to tariffs.
Who cares whether you understand what is free market or not or for that matter die of heart attack while committing incest.
DeleteOnce an economic ignoramus, always an economic ignoramus.
Don't treat the oldies in MSN as 3-yo.
Your exact words 9.32am:
>>>>>No point having a free market if there are not enough people to EXPLOIT IT for OPPORTUNITY and PROFIT.<<<<<
No oldies in their sane mind will believe an economic ignoramus.
Here's the link:
ReplyDeletehttps://www.nytimes.com/1976/06/01/archives/main-singapore-party-quits-the-socialist-international.html
#VTO
ReplyDelete#SONOFDRAGONDIEFIRST
This makilah AH is a scum lah. Even his mother also he commit incest
ReplyDeleteHow can anyone trust, be bothered or even read what a self-glorified incestuous mother-fxxker writes? Simply ignore him. Don't even read his shits, never respond. This is what he hopes you will do.
ReplyDelete