' Forty years ago, Lee Kuan Yew spoke of the dangers of the brain drain. It is sad that his successors pay no heed to that warning and think that importing immigrants is the solution to the problem. It is such a short-sighted policy which if not stopped, will destroy our society down the road.' Lim Tean
The above is quoted from TRE. The brain drain that LKY was talking about is quite different from the situation that is happening here today. In those days, Singapore dollar was not that strong, or the foreign currencies were much stronger than the S$. Working in America or UK or western countries was quite lucrative and some of our best brains would seize on the opportunity to make the best of the bargain to work overseas. That was a brain drain.
Today, Singaporeans were forced to work overseas not because of the comparative advantage of earning more, but unable to find jobs at home. Their income from working overseas is dwindling because of the weakening foreign currencies. Working overseas is no longer that attractive a choice. But what to do when lucrative jobs in Singapore are now given to foreigners with funny degrees and dubious background but called talent to replace our Singaporean talents. It is so sad that Singaporeans have to work overseas to earn less because of foreign exchange. The luckier ones still could find jobs in the US or UK, or some western countries when the exchange rate is gradually turning against them. The less fortunate ones would have to earn rupees but with no better choices.
The brain drain situation is turning Singapore into a big 'longkang'. And everyone knows what is in the 'longkangs'. Singapore's 'longkangs' are filled with foreign shit. But once they got use to the smell, some may even think it smells good. It is a case of getting use to it. When foreign shit sitting on top of Singaporeans becomes the norm here, soon Singaporeans would get use to this situation and no one would complain anymore. Then asses would say, where got problem? Singaporeans are not complaining.
This is a kind of reverse colonisation, when foreigners are brought in, invited in, to occupy and take over the island and eventually becomes the owners of the island, being issued with a pink IC. And the original Singaporeans would just be lan lan.
Vote wisely. Unfortunately daft Singaporeans cannot understand what this means.
ReplyDeleteIt's beyond comprehension why bring someone from India to be the CEO of Singapore nationaal bank - DBS. The bank was founded by Singaporeans. It was the brain child of Professor Goh Keng Swee and his colleagues. The bank was totally funded by Singaporeans and it has since its founding days been well staffed and well managed by talented local officers from directors, managers, financial secretary, accountants and other administrators and competent clerical officers. Important connections were well set up by our local officers in overseas countries where DBS branches were well set up in Indonesia, Malaysia, Brunei, and China. DBS has annually for years been making ever increasing profits for the bank for decades. There are actually a lot of economic and banking talents and expertise in Singapore. Why then suddenly out of the blue we need to employ a so-called banker from overseas - from India in which the bank has to pay him an annual salary of between twelve to fifteen million dollars of which the perts and bonus and DBS shares awarded to him are not as yet included. This is throwing money down the drain. What new business has he brought to the bank? Some may say DBS stock has risen astronomically. But the rise and fall of the stock price of a listed company can be the result of high astute speculation and manipulation. It has nothing to do with the proper management and the core asset business of the bank. Bear in mind how many billion dollar capitalised banks in USA foundered and went bankrupt due to massive speculations in hedge funds and deriivatives trading. The point is that the crooks running the banks will reap in the profits from gambling in hedge funds and derivatives and pass over to the banks should they result in huge losses by the billions. Singaporeans don't want our national bank to face such dire scenario. Singaporeans will be shocked to death should they wake up one day to find DBS shares trading below ten dollars.
It is really scary to see the stock price of DBS shares moving up and down so fast precariously. Who is holding the magic wand? The authority must keep a close watch on this bank before a financial catastrophy happen.
A stock market observer : Yang Tai Chung
Look around you.
ReplyDeleteEven as many sgs are down-grading from private to HDB or Renting,NON-sgs are upgrading and collecting rents ;many from Third world working here can even afford to buy cars with high COE when sgs are selling thwir cars and houses to merely survive.
Is that PROGRESS?
Quoted from a comment by Rice in TRE.