Why I think the election will be in Jun 2009:
1. The situation is much worse than what most ppl think. It is to their interest that they get the election over and done with ASAP before the next reporting period where the numbers can be real ugly.
2. Many GLCs are being forced to hold back retrenchment due to political reasons. But they cannot do so too long. Some have already hinted that retrenchment will be the "last resort". Well this "last resort" measure could come later this year as their businesses starts to bleed badly. Therefore by holding an election earlier, retrenchment can then proceed later.
3. The govt may raid the reserve one more time to give out goodies, but it cannot do so too often because it has already being depleted from investment losses by Temasek and GIC. It will have to stop. When the election is over, the govt will definitely cut back on any handouts and increase indirect taxes as the budget deficit grows larger.
Yes, holding election in Jun 09 may not be a good time considering all the recent rukus created by some ministers' faux paus, but it is still better than doing it later when the situation really worsen.
It is really sad but what u said is true. I actually kinda feels that PAP will win again this time. It's not because Singaporeans are weak and dont not go against them, but the walk over and the Singapore Permanent Resident will put the PAP back into power again.
And as what u said, after PAP won this election, GST will 101% increased. The PAP will not care about the Singaporeans hardship, they will increased GST, taxes, transportation fees, petrol, alcohol, and any other taxes that the corrupted PAP ministers brains can think off.
They will export our Singaporeans old folks to JB, and put them there as it is cheaper cost to the PAP government.
The PAP will retrenched their staff as they are also a big cost to them.
They are doing all these as they need to fill up the big hole that Ho Ching and other PAP ministers have made in their investment in buying other banks shares and asserts that resulted in a big loss(including the Lehmann Brothers bond that all the Town Councils have invested).
Thinking about it made my blood boiled, they invested wrongly and losses big time and they wants the Singaporeans to clear all their shit by taxing us heavily.
F U!!!