Open letter to PM Lee from former PAP MP Maidin Packer

[Prometheus888]

Mr Charles Ponzi also use this to profit in 1899.

Use new members fund to pay old members.

brilliant insight.... to ensure greater returns in the scheme, more and more new members must be added...

one solution was to sell cheap hdb at high prices so that the profits amassed from there ciuld be made to cover up the huge gaps from the missing funds....but even that has a limit if yiu continue to allow the foolish and reckless to guard your reserves....

.i pity the fools in the government who would be left holding the baby when the hordes come alooking.....

 

[halsey02]

The coconut plantation thingy is funny.....

I doubt the owner will hold until today when It is worth billions....

He probably sold it when it is a few thousand dollars in profit back in the old day. Just like those sucker in Iskandar that sold their plantation at dirt cheap prices.

This guy must get his brain checked.

Anyway, he got a point there..we already know their limited intelligence, it is always after they have sold, whatever at a paltry sum, enjoyed the proceeds of the sale; later grumble that the $1 per plot is now worth $1 billion.

That is not the point, the point is they feel marginalized & being a minority class, exploited, disjointed, shunted...whatever, that kind of feeling is hard to eradicate. We must be very careful on this, for this is a 'tinder box'...the older PAP leaders are well aware of this...I am sure!

 

[shctaw]

I will trust his stand if he is to become the first PAP to go for a hunger strike.

The economy move very fast, and Singapore created a lot of asset rich folks.

Most family own a HDB worth an avg $400,000 or RM1m or RMB2m.

At least this has given Singaporeans a choice which a lot of people worldwide do not have. Singaporeans can cash out their asset and move oversea...

And that is what I am doing now....

 

[shctaw]

Some people deserve to be at their current stage.....

I know folks whom insist of renting a place when they can buy at $200,000 (4 rm HDB) back in 1998. Now they grumble about high housing price....?

When you ask them why they did not buy.....they say they are waiting for a correction to buy cheaper....

This is life...... just blame yourself when chances offer to you is not taken.

Anyway, he got a point there..we already know their limited intelligence, it is always after they have sold, whatever at a paltry sum, enjoyed the proceeds of the sale; later grumble that the $1 per plot is now worth $1 billion.

That is not the point, the point is they feel marginalized & being a minority class, exploited, disjointed, shunted...whatever, that kind of feeling is hard to eradicate. We must be very careful on this, for this is a 'tinder box'...the older PAP leaders are well aware of this...I am sure!

 

[Narong Wongwan]

Is Maidin & Kerry Packer somehow reLated ?..:*:
Where does this Packer surname originated..

Illegitimate son....

 

[ionzu]

In the 1960s to the 1980s, as we embarked on economic development programme, people were asked to make early sacrifices for the sake of the country. One of which is when the Government acquired their land at around $1 psf for economic purposes.

My village head used to own a 50-acre coconut plantation. We still stayed in touch. I met the children of the village head recently. They are mostly taxi drivers, property agents & hawkers.

They had to struggle hard to make a living and could only imagine what it would be like if their land (estimated to be worth a few billion dollars today) had remained with the family.

without the land seizures, many of us would still be slaving under the the various village heads. the PAP engaged in a massive redistribution of wealth back in the 60s and 70s. things worked for a while till the 80s and 90s.

its almost time for another major and massive redistribution of wealth.

 

[hockbeng]

minority races can easily bond over the internet with their own kind on facebook..

no they cant!

 

[Jah_rastafar_I]

Anyway, he got a point there..we already know their limited intelligence, it is always after they have sold, whatever at a paltry sum, enjoyed the proceeds of the sale; later grumble that the $1 per plot is now worth $1 billion.

That is not the point, the point is they feel marginalized & being a minority class, exploited, disjointed, shunted...whatever, that kind of feeling is hard to eradicate. We must be very careful on this, for this is a 'tinder box'...the older PAP leaders are well aware of this...I am sure!

ROFL they sold away their land cheaply so they fucked it up and then consider themselves marginalized when they themselves sold it away and were not forced to do so.

 

[Leckmichamarsch]

You never know. If they suddenly stop all intake of all FT or even take steps to reduce the number, their share of votes might jump up by 10 %. The problem is over time, the PAP has conditioned themselves to believe in their own infallibility and this will stop them from reversing any policy taken so far, especially when objections are raised in the public.

With new MRT lines into 2030 it will be more n more FTs

 

[iluvgst]

without the land seizures, many of us would still be slaving under the the various village heads. the PAP engaged in a massive redistribution of wealth back in the 60s and 70s. things worked for a while till the 80s and 90s.

its almost time for another major and massive redistribution of wealth.

Those days the land acquisition act allowed the government to pay pittance for swarths of land. Now it's different. Any compulsory acquisition now they need to compensate market rates. They changed this after acquiring whatever they intended to acquire to have a landbank, sell it off slowly to developers on 99 year leases who then enticed foreign investors to buy.