GIC / Temasek and the Nation's Economic Direction over 30 years

[scroobal]

The first premise of good economics is to understand opportunity cost. Closely linked to it is the adage - money now is more valuable than money later. The dollar buys less things as time goes by.

On hindsight, maybe we should have done the following

1) Instead of focusing on growing the reserves, we should have seeded programs that allows for long term building of civil infrastructures, health, family and welfare frameworks. Many of these can be pay as you go.

2) Less focus on double digit or rapid growth but a measured growth where development of society towards a more civil and caring standard can be seen.

3) More thought she have gone into understanding social dynamics of an emerging multi-cultural nation before opening up the floodgates to foreigners across the board.

4) Push the economist and technocrats back to positions of support rather than positions of leadership. Leadership is the domain of generalist who have proven competency and experience is handling multi-disciplinary requirements. This comes from maturity of age and valuable lessons of hindsight.

5) Depoliticise grassroots organisations in order to seek accurate feedback and to attract capable inidividuals who are non-partisan but community minded.

6) Develop a set of simple yet broad set of benchmarks and markers to measure social, economic , cultural and quality of life progress. This set must be acceptable to the people.

7) Meritocracy is a much abused word in Singapore politics. It has been used to justify cronies, like minded individuals and family members to hold positions of importance where clear conflicts of interest exist, where it goes againts the grain of common sense and good practice. No one is indispensible.

8) The PAP needs to learn to fight on a level playing field. If you can't trust your own set of competencies, don't expect people to trust and respect you.

9) Transparency and accountability must follow international practice and much of it is common sense.

 

[Tiu Kwang Yew]

Clap clap clap !

good ideas !

But being running dogs will always have the frontal brain smaller--only to take instructions.
Even fucktard Hitler had his own evil -wide support.

Nearly 70 % (66.6) surf porns and check HDB pricing, wait for GST credits and vote for upgrading.
These are the bad products of PAP factory. Their world and hope are about HDB pigeon holes and singapore pools.

your ideas are for the future, the majority voters are still primitive.

perhaps the informed minority will understand your ideas, but the major stupidity still put the PAP in power.

Well, the majority will try to understand your ideas too late.

Lousy Products of PAP dont deserve even a flyer from the alternative parties.

by mr. tiu kwang yew

The first premise of good economics is to understand opportunity cost. Closely linked to it is the adage - money now is more valuable than money later. The dollar buys less things as time goes by.

On hindsight, maybe we should have done the following

1) Instead of focusing on growing the reserves, we should have seeded programs that allows for long term building of civil infrastructures, health, family and welfare frameworks. Many of these can be pay as you go.

2) Less focus on double digit or rapid growth but a measured growth where development of society towards a more civil and caring standard can be seen.

3) More thought she have gone into understanding social dynamics of an emerging multi-cultural nation before opening up the floodgates to foreigners across the board.

4) Push the economist and technocrats back to positions of support rather than positions of leadership. Leadership is the domain of generalist who have proven competency and experience is handling multi-disciplinary requirements. This comes from maturity of age and valuable lessons of hindsight.

5) Depoliticise grassroots organisations in order to seek accurate feedback and to attract capable inidividuals who are non-partisan but community minded.

6) Develop a set of simple yet broad set of benchmarks and markers to measure social, economic , cultural and quality of life progress. This set must be acceptable to the people.

7) Meritocracy is a much abused word in Singapore politics. It has been used to justify cronies, like minded individuals and family members to hold positions of importance where clear conflicts of interest exist, where it goes againts the grain of common sense and good practice. No one is indispensible.

8) The PAP needs to learn to fight on a level playing field. If you can't trust your own set of competencies, don't expect people to trust and respect you.

9) Transparency and accountability must follow international practice and much of it is common sense.

 

[makapaaa]

Talk so much for what? Want me to lock u up in IMH? *hee*hee*​

 

[scroobal]

I am still waiting to see what the Politicians achieved after the salaries were hiked to recrod levels. Looks like all achievements were donr prior to it. Wonder if someone can state otherwise.

 

[Goh Meng Seng]

Dear Scroobal,

Don't wait. How can you help opposition to win?

Goh Meng seng

 

[snrcitizen]

1) Instead of focusing on growing the reserves, we should have seeded programs that allows for long term building of civil infrastructures, health, family and welfare frameworks. Many of these can be pay as you go.

From what has happened it was not just growing of assets. It was more like gambling with citizens' money without any accountability.

LKY has tried to do a-cover-his-ass act by saying the money was not borrowed and the gamble will pay off when the value of "investments" rise in 10, 20, 30 years time.

He was wrong on 2 counts. First of all the money IS borrowed - from every citizen, although he may think otherwise. Secondly, his promise of higher returns sounds very much like the TV advert of the gambler making empty promises to the little girl to break her piggy bank for him.

Am in agreement with you that seeding programs for long term development for the nation and looking after the people must be the top priority. Not gambling on foreign toxic trash.

2) Less focus on double digit or rapid growth but a measured growth where development of society towards a more civil and caring standard can be seen.

Have no gripes about rapid double digit growth, but I am dead against it when this is the only kpi and focus without a damn about the citizens so long as the ends justifies the means.

3) More thought she have gone into understanding social dynamics of an emerging multi-cultural nation before opening up the floodgates to foreigners across the board.

They were on a somewhat correct path decades ago but then suddenly the $$$ got into their heads when everything just went to the dogs.

4) Push the economist and technocrats back to positions of support rather than positions of leadership. Leadership is the domain of generalist who have proven competency and experience is handling multi-disciplinary requirements. This comes from maturity of age and valuable lessons of hindsight.

Absolutely. The so-called scholars and elites have no reason to be in the front line making the decisions. All IQ and zero EQ. Even then, based on what we have seen the IQ part is pretty limited as they were ill prepared for this crises and when faced with it, they are at a loss.

5) Depoliticise grassroots organisations in order to seek accurate feedback and to attract capable inidividuals who are non-partisan but community minded.

This will be extremely difficult to change. For too long the carrot (goodies) were dangled to grassroots organisations where those serving expect and do get something in return.

This has caused people with real intentions to serve the people turn away in disgust. To these people, the grassroots organisations is like a dirty word and associating with them is as though they are also with nothing in mind except GREED.

6) Develop a set of simple yet broad set of benchmarks and markers to measure social, economic , cultural and quality of life progress. This set must be acceptable to the people.

Just ask people if the majority is better off (not just economically) or worse off under this current administration since the last elections (no need to go too far back) and the answer will be telling.

7) Meritocracy is a much abused word in Singapore politics. It has been used to justify cronies, like minded individuals and family members to hold positions of importance where clear conflicts of interest exist, where it goes againts the grain of common sense and good practice. No one is indispensible.

What meritocracy? They claim they are the A-team, yet when they fail miserably they do not see it is clear that they are not as self advertised and to take responsibility by resigning. Instead they saw fit to keep on rewarding themselves by increasing their salary by the millions. This is definitely not meritocracy.

8) The PAP needs to learn to fight on a level playing field. If you can't trust your own set of competencies, don't expect people to trust and respect you.

When they keep on manipulating the rules at the elections to guarantee their cling on to power, this is a definite confirmation that they do not have the support of the majority of citizens. Talk of changing the one man one vote system has already been made public. Very soon we are heading towards very much like N Korea so that certain people are going to have a guaranteed power status for generations to come.

9) Transparency and accountability must follow international practice and much of it is common sense.

Agree. Too much has been kept away from the people. Talk about skeletons in closets, I suspect there are super warehouses of them, so far.

 

[Hakka Tiow]

Seems to me to be a rough sketch of a party's new manifesto.

 

[yansen84]

7) Meritocracy is a much abused word in Singapore politics. It has been used to justify cronies, like minded individuals and family members to hold positions of importance where clear conflicts of interest exist, where it goes againts the grain of common sense and good practice. No one is indispensible.

I'm sorry, but it seems to me that meritocracy in the Sinkie sense is a by-word, a synonym almost, for outstanding academic records. I would be the first to admit to not being a genius at school, but I venture to say I would run the systems in this country far better than the nerdy bloke who scored straight-As, did S-papers and got handpicked for a government scholarship at some top overseas uni!

 

[funglung]

DONT WAIT ANYMORE

KICK OUT LKY AND ALL HIS STINKING BASTARDS IN WHITE

KICK THEM ALL OUT


Sinkies must organise themselves

Show that they got balls and can stand up to LKY intimidation.

Big money at stake.

Already 400++ billions got sucked and bled by LKY into his Temasick and GIC

EVEN IF NO ELECTIONS, SINKIES MUST SPEAK WITH ALL THEIR FRIENDS AND ALL THEY KNOW

STAND UP TO THAT BASTARD LKY AND PAP BLOODSUCKERS

STAND WITH ALL THOSE THAT FIGHT BASTARD LKY

OR STAND UP YOURSELF IN YOUR CONSTITUENCY

DONT BE BULLIED BY THAT FUCKING COWARD LKY USING HIS CORRUPT KANGAROO COURTS

 

[The_Latest_H]

Too much focus on ad-hoc economical(and politically charged) policies have led us to this stage. They think too much of the short term to realise that good economical policies often think of the long term.

Even for their so-called "investments", the "long-term" strategy was clearly a sham, a pretense. They went in, hoping for quick bucks and a quick turnaround, not realising that a massive drop was at hand- and now they got their hands pretty burnt, they claim its for "the long-term".

In any case, while all these policies are good for them politically, they are also, in a larger picture, not good policies in the long run- because they run on a premise that a bubble economy will go on forever, and that people will continue to buy Singapore exports overseas, and poor people would just need one band aid for all of their serious injuries.

To say they have ran out of ideas economically is not just factual, but also have been proven so. This recession is just the beginning of a bad cycle, and there will be more if the S'pore government doesn't rectify it as soon as possible, even if there's a political cost short term.

 

[Hope]

Too much focus on ad-hoc economical(and politically charged) policies have led us to this stage. They think too much of the short term to realise that good economical policies often think of the long term.

Even for their so-called "investments", the "long-term" strategy was clearly a sham, a pretense. They went in, hoping for quick bucks and a quick turnaround, not realising that a massive drop was at hand- and now they got their hands pretty burnt, they claim its for "the long-term".

In any case, while all these policies are good for them politically, they are also, in a larger picture, not good policies in the long run- because they run on a premise that a bubble economy will go on forever, and that people will continue to buy Singapore exports overseas, and poor people would just need one band aid for all of their serious injuries.

To say they have ran out of ideas economically is not just factual, but also have been proven so. This recession is just the beginning of a bad cycle, and there will be more if the S'pore government doesn't rectify it as soon as possible, even if there's a political cost short term.

GIC invested S$450 billion,Temasek invested $280 billion,combined investment 730 billion in stock,shares,real estates,currencies,what have you.

Based on 3.7 millions citizens plus P.Rs,that works out to $197k per citizen.

USA has a population of 304 million,what crazy PAP is doing is the equuivalent of MAD BUSH punted $60 trillion in the gaming market.

Can you ever imagine this to happen,not even with a president as Mad as BUSH,who is internationally recognised as Mad.

Bush does not have a world class propangade machine,PAP does have one.

An old man who is 85 going into 86 is simply Mad,the sad thing is that very few people are willing to accept this fact,all the mad rulers in the past all had good reasons to explain why they wre different,this is no exception.

Singapore citizens are going to pay a heavy price,people may not believe,but if you look coldly at the facts and figures,any sensible guy would come to this sad conclusion.

 

[scroobal]

Dear Scroobal,

Don't wait. How can you help opposition to win?

Goh Meng seng

Unfortunately we can't choose our families only our friends.

 

[Goh Meng Seng]

Unfortunately we can't choose our families only our friends.

Dear Scroobal,

Understood. Just too bad.

But how about writing speeches?

Goh Meng Seng

 

[scroobal]

LKY has tried to do a-cover-his-ass act by saying the money was not borrowed and the gamble will pay off when the value of "investments" rise in 10, 20, 30 years time.

This is what gets me. He will find excuses and seem to think that Singaporeans are born inherently stupid. Very different from the man of the 60s and 70s.

Am in agreement with you that seeding programs for long term development for the nation and looking after the people must be the top priority.

I could never fathom why they were not doing it. They spent a fortune building underground hangers, military runways on public road, underground caverns, overseas staging bases which I understand for a rainy day but they never did that for individual singaporeans that fall thru the cracks. Singaporeans are leaving by the droves as they don't see a clear safety net. Even the Indonesia shuttler has more foresight. You need these to retain your tallent.

but I am dead against it when this is the only kpi and focus without a damn about the citizens so long as the ends justifies the means.

Shocking isn't it. Fair enough, the early decades everyone understood the priorities - cheap housing aluminium doors, lift every 5 floors. In fact the courtesy campaign helped a lot. The 3rd generation leaders are still gung ho about economic growth because its pegged to their remuneration and easier to hit. Too much work for social indicators. Vivien Balakrishnan reply to Lily Kong was telling.

Absolutely. The so-called scholars and elites have no reason to be in the front line making the decisions. All IQ and zero EQ. Even then, based on what we have seen the IQ part is pretty limited as they were ill prepared for this crises and when faced with it, they are at a loss.

Something else I noticed. The Commissioner of Police and his senior staff don't like Police Officers to me. The same with the Army. Its seems to be rife across the public service. They all look and sound like the PAP, in appearence, demeanour and the manner of fielding questions. The exception if Philip Yeo for the wrong reasons. Even NTUC looks the same. The whole has evolved into a race by itself.

For too long the carrot (goodies) were dangled to grassroots organisations where those serving expect and do get something in return.
This has caused people with real intentions to serve the people turn away in disgust. To these people, the grassroots organisations is like a dirty word and associating with them is as though they are also with nothing in mind except GREED.

Yes, yes.... So sad to see a Singaporean, a volunteer rushing to open the door of an MP. I see that in the 3rd banana republic alot.

 

[scroobal]

Seems to me to be a rough sketch of a party's new manifesto.

I did not realise it, but you are right.

 

[scroobal]

Too much focus on ad-hoc economical(and politically charged) policies have led us to this stage. They think too much of the short term to realise that good economical policies often think of the long term.

Very well said. 2 concise and accurate obseravtions;
ad-hoc and short term.

 

[scroobal]

I'm sorry, but it seems to me that meritocracy in the Sinkie sense is a by-word, a synonym almost, for outstanding academic records. I would be the first to admit to not being a genius at school, but I venture to say I would run the systems in this country far better than the nerdy bloke who scored straight-As, did S-papers and got handpicked for a government scholarship at some top overseas uni!

Agree with you. After 30 years on this program, there is absolutely nothing to show.