As a true bred Singaporean who was born and educated here, I have never seen Singapore in a worse shape for the last 30 years. Even during the 1985 and 2003 recessions, there were glimpses of hope that things will soon turn around.
Our economy is now in dire straits. It is expected to contract between - 2.8 and - 5% this year. Fresh graduates have difficulties finding a job and earn a decent living to start their own families. Middle-aged professionals, managers and technicians face the threat of retrenchment. A rising portion of our silver-haired population have little money for retirement and has to continue working for as long their physical health permits.
The regime has conveniently attributed the cause of the economic duress entirely to external circumstances beyond their control including losing $58 billion dollars of public monies and possibly more in ill-timed investments.
Singaporeans are told to buckled up and stay united for the tough times ahead, but there is a lot of angst, frustration and uncertainty on the ground whether we will survive this downturn. Where are we heading ? Have we learnt from our mistakes ? And more importantly, will we continue to stick to old and tested methods of governing the nation which has led us to near financial ruins ?
Read rest of article here:
http://wayangparty.com/?p=5131
Our economy is now in dire straits. It is expected to contract between - 2.8 and - 5% this year. Fresh graduates have difficulties finding a job and earn a decent living to start their own families. Middle-aged professionals, managers and technicians face the threat of retrenchment. A rising portion of our silver-haired population have little money for retirement and has to continue working for as long their physical health permits.
The regime has conveniently attributed the cause of the economic duress entirely to external circumstances beyond their control including losing $58 billion dollars of public monies and possibly more in ill-timed investments.
Singaporeans are told to buckled up and stay united for the tough times ahead, but there is a lot of angst, frustration and uncertainty on the ground whether we will survive this downturn. Where are we heading ? Have we learnt from our mistakes ? And more importantly, will we continue to stick to old and tested methods of governing the nation which has led us to near financial ruins ?
Read rest of article here:
http://wayangparty.com/?p=5131
