November
2008
What’s Next
Seems like it never just rains, it pours.
If you’re in the Singapore government, it must have been a bad few months.
You gave yourself a big time pay rise at the beginning of the year on the basis of your brilliant economic management. Then you had to spend the rest of the year, trying to convince the population, that the economy is still growing strongly, when it has been contracting for 9 of the last 12 months. In fact it had already started contracting before you gave yourself the nice pay hike. But no matter because the cash is already in the pocket.
Then that big economic stimulus project you had going, in spike of protest by people on social ills, stalled when Sands ran out of money to carry on the construction. No matter how much you want to make it sound like a construction, geological or logistical problem, everyone knows what kind of financial problems Sands has run into. So much for the ten thousand jobs that it was suppose to create. It now looks like, the government will have to step in to provide the cash to help complete the casino. Yes, they said they will not step in, but everyone knows a government company will step in.That will mean we have a government owned casino. Yes it will be a casino, forget the pretence of an integrated resort, because when u have limited cash to build, you will only build what is important for profits, and that will be the casino.
And this when the government bank, DBS, is being screamed at by almost everyone in the country over the lehman linked notes fiasco. I’m sure there was mis-selling in the mix ( there are investors that speak and read almost no english, just how they were supposed to understand a first to default basket option, when they signed their live savings over, is quite beyond me) Of course there might be a small minority of investors who did understand ( And I’ll say given the complexity, a very small minority), who might be hopping on the bandwagon in the hopes of being bailed out. $500 million, is a lot of life savings. Is there any doubt if the government is pro business or pro people?
Despite all this, we have a ST poll that says that 69% of the people have “full trust in the Government’s ability to tackle the financial crisis and protect Singaporeans’ interests”. Yes, but which bunch of Singaporean interest?
[…] Recession - Tan Kin Lian: Retrenchment and its impact on Singaporeans - Information read by me: DBS use axe le - Sgpolitics: Financial crisis tips - The Itch to Write: Retrenchment - last resort - StaticVariable: What’s Next […]
And it’ll be the same 69% tools that will vote them in the next GE…
Insane amount of idiots in Singapore
[…] Recession - Gerald Giam: Billion dollar profits but still axing jobs - Wayangparty Club: MM Lee: sorry, golden period no more - Chia Ti Lik’s blog: Ti Lik’s doomsday predictions - Hard Hitting in the Lion City: Why the Singapore Government should NOT saved the Marina IR - Singapore Alternatives: Las Vegas Sands to detail plans next week - Wayang Party Club: Lim Swee Say: CPF won’t be cut for NOW, (but for the future…..) - BothSidesOfTheJohorStraits: Taking DBS’s lead, lets ‘retrench’ some Singapore Ministers! - Diary of A Singaporean Mind: Recession : Bad leadership in times of trouble? - My sketchbook: Astrology 101:Reading into Singapore’s future - Wayangparty Club: Singapore tax payers’ money held ransom by Las Vegas Sands - Everyday’s life in a snapshot: The Paradox of Thrift in Singapore - Sgpolitics.net: Will Las Vegas Sands hold Singapore Government to ransom over the Marina Bay IR project? - Feed Me To The Fish: Integrated Resort Disintegrated? - mrbrown: Let General Motors die already - Blowin’ In The Wind: Singapore taking time to tackle recession - Chemical Generation Singapore: Poker Faces in the Marina Gamble - Hard Hitting in the Lion City: Singapore government will not bail out Marina Bay Sands IR…directly - Alice Cheong in Wonderland: Is now the time to be an entrepreneur? - Tan Kin Lian: Retrenchment and its impact on Singaporeans [Recommended] - Information read by me: DBS use axe le - Sgpolitics: Financial crisis tips - The Itch to Write: Retrenchment - last resort - StaticVariable: What’s Next […]
We need multi-million dollar ministers to lead us out of this “recession” wat. Complain so much, later the gahment don’t so squat and let the economy die and retrenchments flow free and make people tighten their belts then you know.
issue more spore shares, and sell to china
If u visit my website, n scroll down the page, u wld find y it may not be a bad idea to consider retiring to China, SHG to be specific.
S’pore is where our parents or grandparents moved to from China decades ago… today’s level of comfort in China, esp in the big cities, makes it less of a pain for us to make the trek back..
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