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Chitchat Why Jamus Lim join Workers' Party ?
- Thread starter batman1
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- Jul 14, 2008
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Jamus ate porridge. 
Saturdays are usually a busy time for #TeamSengkang, occupied by our regularly-scheduled estate walks, coffeeshop visits, and various other grassroots activities. But this past weekend, we were able to finally fulfill the longstanding invitation by one of our volunteers, Siang Hwee Sherlyn, to visit his grandfather’s porridge stall, which started as a pushcart business in the 1950s.
Today, Johor Road Boon Kee Pork Porridge is already justifiably famous (my pet theory is that any store named after a location other than where it currently is must be so). This means that battling the lunchtime crowd could result in a long wait, since each bowl is prepared individually. We arrived quite a bit before noon, which helped our case, and proceeded to enjoy a delicious brunch.
Perhaps more poignant was what our friend shared about what the store meant for him. Without the humble business, he believes he would not be here today. That simple story would have been replicated thousands of times as Singapore was developing. As recently as the 1990s—when I was in school—I had classmates who were children of hawkers, taxicab drivers, clerks, and tailors. Dual working parents, who worked long hours under punishing conditions, to provide for a better future. All nestled in classes among other kids, whose parents may have been big-time businessmen or doctors or lawyers (whose large houses we would go to hang out and have barbecues).
One fear I have is that this is changing. Rising inequality now means that those of more modest means no longer go to the more competitive schools, either because think they have no business aspiring for such schools, or are unable to afford the tuition that would help get them there. Society becomes more stratified, and we no longer understand how the other half lives. Such lack of empathy fuels misunderstanding and resentment, and makes for a more polarized country. This will eventually undermine the meritocracy that has been a defining feature of our nation.
Jamus Lim
14 hrs ·Saturdays are usually a busy time for #TeamSengkang, occupied by our regularly-scheduled estate walks, coffeeshop visits, and various other grassroots activities. But this past weekend, we were able to finally fulfill the longstanding invitation by one of our volunteers, Siang Hwee Sherlyn, to visit his grandfather’s porridge stall, which started as a pushcart business in the 1950s.
Today, Johor Road Boon Kee Pork Porridge is already justifiably famous (my pet theory is that any store named after a location other than where it currently is must be so). This means that battling the lunchtime crowd could result in a long wait, since each bowl is prepared individually. We arrived quite a bit before noon, which helped our case, and proceeded to enjoy a delicious brunch.
Perhaps more poignant was what our friend shared about what the store meant for him. Without the humble business, he believes he would not be here today. That simple story would have been replicated thousands of times as Singapore was developing. As recently as the 1990s—when I was in school—I had classmates who were children of hawkers, taxicab drivers, clerks, and tailors. Dual working parents, who worked long hours under punishing conditions, to provide for a better future. All nestled in classes among other kids, whose parents may have been big-time businessmen or doctors or lawyers (whose large houses we would go to hang out and have barbecues).
One fear I have is that this is changing. Rising inequality now means that those of more modest means no longer go to the more competitive schools, either because think they have no business aspiring for such schools, or are unable to afford the tuition that would help get them there. Society becomes more stratified, and we no longer understand how the other half lives. Such lack of empathy fuels misunderstanding and resentment, and makes for a more polarized country. This will eventually undermine the meritocracy that has been a defining feature of our nation.
- Joined
- Jul 14, 2008
- Messages
- 89,208
- Points
- 113
Jamus speaks on inflation. 
In his adjournment motion on the big-picture policies for tackling inflation, Jamus Lim touched on how various levers of macroeconomic policy—monetary, fiscal, exchange rate, and wages—should respond to the threat of inflation, and why a suite of such measures is both timely and needed.
Jamus Lim
13 hrs ·The Workers' Party
22 hrs ·In his adjournment motion on the big-picture policies for tackling inflation, Jamus Lim touched on how various levers of macroeconomic policy—monetary, fiscal, exchange rate, and wages—should respond to the threat of inflation, and why a suite of such measures is both timely and needed.
- Joined
- Jul 14, 2008
- Messages
- 89,208
- Points
- 113
Jamus continues house visits.
This week, our #TeamSengkang house visits took us to 321C #Anchorvale, and we also weaved in an additional Saturday visit to wrap up 289B #Compassvale. We met with a wide range of families, young and old, across the ethnic kaleidoscope that is Singapore.
A number of residents shared their reservations about the impending transition to direct management for Sengkang Town Council, having read the news about the absence of bids for the managing agent role. This concern is natural, of course, as anyone would have for any transition.
As I reassured them, #Anchorvale has been under direct management since the end of last year, and our experience thus far has been extremely positive. The new property team has been very responsive to our feedback and requests for improvements on the ground, and have also worked hard on addressing and recovering from maintenance lapses brought about by manpower shortages last year. They have also worked to standardize processes and procedures—as well as adopt best practices—for back-end operations. The team is now in a solid position to scale up the experience of direct management in #Anchorvale to the rest of #SengkangGRC, and we are confident that they will hit the ground running.
Jamus Lim
6 hrs ·This week, our #TeamSengkang house visits took us to 321C #Anchorvale, and we also weaved in an additional Saturday visit to wrap up 289B #Compassvale. We met with a wide range of families, young and old, across the ethnic kaleidoscope that is Singapore.
A number of residents shared their reservations about the impending transition to direct management for Sengkang Town Council, having read the news about the absence of bids for the managing agent role. This concern is natural, of course, as anyone would have for any transition.
As I reassured them, #Anchorvale has been under direct management since the end of last year, and our experience thus far has been extremely positive. The new property team has been very responsive to our feedback and requests for improvements on the ground, and have also worked hard on addressing and recovering from maintenance lapses brought about by manpower shortages last year. They have also worked to standardize processes and procedures—as well as adopt best practices—for back-end operations. The team is now in a solid position to scale up the experience of direct management in #Anchorvale to the rest of #SengkangGRC, and we are confident that they will hit the ground running.
- Joined
- Jul 14, 2008
- Messages
- 89,208
- Points
- 113
Jamus Lim
Yesterday at 19:57 ·
He Ting Ru 何廷儒
Yesterday at 14:01 ·We’ve started work! SKTC held our groundbreaking ceremony for the new #Anchorvale office at 323C Sengkang East Way this morning, and we were pleased to have some of our councillors and residents join us. Despite the various delays due to Covid, we hope to have the new office completed by the end of the year. Many thanks to the team for the hard work to ensure our residents in Anchorvale and Compassvale are better served!
- Joined
- Jul 14, 2008
- Messages
- 89,208
- Points
- 113
Jamus is concerned about inflation. 
Unless you’ve been living under a rock, you’d probably be aware that things have been getting more expensive lately (if still
In doubt, scroll through your friends’ social media feeds for complaints about overpriced “economy” rice). What has made stuff pricier of late? Global events, like disruptions in food production due to the war in Ukraine, or supply chain breakdowns from lockdowns in Chinese factories play a part. So do tight labor markets, as workers bid up wages. But no small part of it is due to expectations itself. Inflation is a funny thing. It isn’t just due to real changes in demand and supply. It can spike because everyone thinks it will, making it a self-fulfilling prophecy.
That part is scary, since it can go on longer than we think it should. But such price increases may actually be somewhat illusory; if everything just becomes twice as expensive (including your salary), it’s not such a big deal. The trick is to make sure that if this happens, our wages keep up with rising prices. Usually, labor markets are pretty good about doing so (especially when you kaopeh your boss for a raise because, well, inflation), after some time. Financial markets do a decent job too, as long as they’re allowed time to work. If traders think the business-as-usual rate of inflation is going to be 4 percent instead of 2, they’ll eventually price in this higher “inflation premium.”
This issue is for those who happen to live on fixed incomes. Without an adjustment, the real savings of retirees or assistance received for those on financial aid will permanently buy less than before. These folks need help now. Thankfully, such an adjustment exists: it’s called the interest rate. Higher interest rates pass along the somewhat artificial price increases to you and I, and ensures that, if you’re a saver, you don’t inadvertently lose purchasing power. Problem is, CPF rates—which are tied to local banks’ interest rates—haven’t adjusted upward. But in the meantime, costs are rising. It seems fair for the government to make up for higher inflation faced, with temporarily higher CPF rates.
Will this be costly? In the very short run, sure. But governments aren’t supposed to be saving money because they end up paying a reduced interest bill due to inflation. That would amount to a stealth tax. Rather, they should increase CPF interest payouts to keep accountholders whole, at least temporarily. And when financial markets eventually price in this inflation premium into government debt, this will automatically be reflected in their (higher) borrowing costs.
Incidentally, if you’re a borrower, higher CPF rates could have implications for you, too. Those with mortgages on their flats may face higher monthly payments, since HDB loan rates are tied to the CPF rate. To limit the impact of this policy for those with outstanding mortgages with HDB, the government could temporarily lock in the current low rate for HDB loans, for say 6 months. This will give some breathing space for households already struggling with high costs of living.
Now, you may also protest: whether you’re rich or poor, almost everyone that is part of the Singaporean core will have a CPF account. So as long as you’re a saver, you’ll benefit from higher returns, regardless of your wealth. But for almost all of these folks, the higher rate will simply be an adjustment to the fact that everything has risen in price. Put another way, this move seeks to restore everyone’s purchasing power, to what it was before the inflation surge. If we wish to tax wealth, we should do it explicitly (as the #workersparty has called for), not do it with a stealth inflation tax. It ensures accountability, while ensuring that those least able to afford it do not bear the burden of higher prices not of their own doing. #makingyourvotecount
Postscript: the magic of this proposal is that it need not entail much fiscal outlay at all. Higher CPF rates can be funded by higher rates paid by Special Singapore Government Securities (SSGS), which is how the government pays CPF. Then, if our sovereign wealth funds are doing their job, they would be investing in foreign bonds, which have been faster in pricing in this inflation premium. They also invest for the long run, where returns will likewise do the same. They should earn back what they are giving out now. Even locking in HDB loan rates for borrowers could entail minimal costs. The government just needs to issue all required debt for the future now, at current rates. They won’t be making money, but they shouldn’t, when things are so difficult for the people now.
Jamus Lim
9 hrs ·Unless you’ve been living under a rock, you’d probably be aware that things have been getting more expensive lately (if still
In doubt, scroll through your friends’ social media feeds for complaints about overpriced “economy” rice). What has made stuff pricier of late? Global events, like disruptions in food production due to the war in Ukraine, or supply chain breakdowns from lockdowns in Chinese factories play a part. So do tight labor markets, as workers bid up wages. But no small part of it is due to expectations itself. Inflation is a funny thing. It isn’t just due to real changes in demand and supply. It can spike because everyone thinks it will, making it a self-fulfilling prophecy.
That part is scary, since it can go on longer than we think it should. But such price increases may actually be somewhat illusory; if everything just becomes twice as expensive (including your salary), it’s not such a big deal. The trick is to make sure that if this happens, our wages keep up with rising prices. Usually, labor markets are pretty good about doing so (especially when you kaopeh your boss for a raise because, well, inflation), after some time. Financial markets do a decent job too, as long as they’re allowed time to work. If traders think the business-as-usual rate of inflation is going to be 4 percent instead of 2, they’ll eventually price in this higher “inflation premium.”
This issue is for those who happen to live on fixed incomes. Without an adjustment, the real savings of retirees or assistance received for those on financial aid will permanently buy less than before. These folks need help now. Thankfully, such an adjustment exists: it’s called the interest rate. Higher interest rates pass along the somewhat artificial price increases to you and I, and ensures that, if you’re a saver, you don’t inadvertently lose purchasing power. Problem is, CPF rates—which are tied to local banks’ interest rates—haven’t adjusted upward. But in the meantime, costs are rising. It seems fair for the government to make up for higher inflation faced, with temporarily higher CPF rates.
Will this be costly? In the very short run, sure. But governments aren’t supposed to be saving money because they end up paying a reduced interest bill due to inflation. That would amount to a stealth tax. Rather, they should increase CPF interest payouts to keep accountholders whole, at least temporarily. And when financial markets eventually price in this inflation premium into government debt, this will automatically be reflected in their (higher) borrowing costs.
Incidentally, if you’re a borrower, higher CPF rates could have implications for you, too. Those with mortgages on their flats may face higher monthly payments, since HDB loan rates are tied to the CPF rate. To limit the impact of this policy for those with outstanding mortgages with HDB, the government could temporarily lock in the current low rate for HDB loans, for say 6 months. This will give some breathing space for households already struggling with high costs of living.
Now, you may also protest: whether you’re rich or poor, almost everyone that is part of the Singaporean core will have a CPF account. So as long as you’re a saver, you’ll benefit from higher returns, regardless of your wealth. But for almost all of these folks, the higher rate will simply be an adjustment to the fact that everything has risen in price. Put another way, this move seeks to restore everyone’s purchasing power, to what it was before the inflation surge. If we wish to tax wealth, we should do it explicitly (as the #workersparty has called for), not do it with a stealth inflation tax. It ensures accountability, while ensuring that those least able to afford it do not bear the burden of higher prices not of their own doing. #makingyourvotecount
Postscript: the magic of this proposal is that it need not entail much fiscal outlay at all. Higher CPF rates can be funded by higher rates paid by Special Singapore Government Securities (SSGS), which is how the government pays CPF. Then, if our sovereign wealth funds are doing their job, they would be investing in foreign bonds, which have been faster in pricing in this inflation premium. They also invest for the long run, where returns will likewise do the same. They should earn back what they are giving out now. Even locking in HDB loan rates for borrowers could entail minimal costs. The government just needs to issue all required debt for the future now, at current rates. They won’t be making money, but they shouldn’t, when things are so difficult for the people now.
- Joined
- Jul 14, 2008
- Messages
- 89,208
- Points
- 113
Jamus Lim
Yesterday at 20:09 ·Chua Kheng Wee 蔡庆威
Yesterday at 18:28 · Instagram ·Eid-Ul-Adha Mubarak!
Aidiladha is a celebration that marks the completion of the Hajj. Aidiladha is also known as Hari Raya Korban, a festival which I understand is to value and reflect upon the meaning of sacrifice.
To all our Singaporean pilgrims in the holy land, we would like to wish them a Hajj Mabrur and may they come home safely. From all of us at #TeamSengkang to all Muslims in Singapore, Eid-Ul-Adha Mubarak!
Kepada seluruh umat Islam Singapura khasnya penduduk Islam di Sengkang GRC kami ingin mengucapkan Selamat Menyambut Aidiladha. Kepada mereka yang mengerjakan ibadah haji agar mendapat Haji Mabrur!
- Joined
- Jul 14, 2008
- Messages
- 89,208
- Points
- 113
Jamus encourages putting up flags.
Over the weekend, a group of #TeamSengkang volunteers helped put up flags featuring our stars and crescent, along with the (mer)lion’s head, at the lift lobbies in the 301-4 cluster.
Our national symbols capture important qualities that we value as a nation: the colors our equality and virtue, the stars our ideals such as democracy, peace, and prosperity. In a busy and world, it is sometimes easy to forget these principles that we share as an (imagined) community. While some cynics may dismiss such signifiers as token symbolism, I actually see the subtle but greater role that such signifiers play, in providing the glue that binds a young and ethnically diverse nation together. Such cohesion, in turn, is the sort of social capital that has contributed to long-run economic performance.
Thanks to the generosity of a kind donor, these little flags will eventually be rolled out across all of #Anchorvale. We hope that residents will also look to celebrate our nation’s impending birthday, by putting up flags of their own at their homes! #SengkangGRC
Jamus Lim
13 hrs ·Over the weekend, a group of #TeamSengkang volunteers helped put up flags featuring our stars and crescent, along with the (mer)lion’s head, at the lift lobbies in the 301-4 cluster.
Our national symbols capture important qualities that we value as a nation: the colors our equality and virtue, the stars our ideals such as democracy, peace, and prosperity. In a busy and world, it is sometimes easy to forget these principles that we share as an (imagined) community. While some cynics may dismiss such signifiers as token symbolism, I actually see the subtle but greater role that such signifiers play, in providing the glue that binds a young and ethnically diverse nation together. Such cohesion, in turn, is the sort of social capital that has contributed to long-run economic performance.
Thanks to the generosity of a kind donor, these little flags will eventually be rolled out across all of #Anchorvale. We hope that residents will also look to celebrate our nation’s impending birthday, by putting up flags of their own at their homes! #SengkangGRC
