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The photo already shows that his heart lies with FTrash lah!
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Govt ready to ease pain of crisis fallout
</TR><!-- headline one : end --><TR>Possible recession is a worry but S'pore will emerge stronger: SM </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Kor Kian Beng
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
</TD><TD vAlign=bottom>
'We must do this in a way which not only eases the pain, but which also positions us to take advantage of the recovery later on,' Mr Goh said. -- ST PHOTO: CAROLINE CHIA
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->Bad times may lie ahead but the Government is ready to help, said Senior Minister Goh Chok Tong last night.
He sent out this message of hope even as he gave a realistic sense of the possible fallout from the global financial crisis.
He gave three reasons for why Singapore, as it prepares for a global downturn, can be confident of emerging from the crisis stronger than ever.
First, the Government is ready to provide help if bad times come, he said at a Marine Parade GRC Hari Raya Aidilfitri celebration.
In fact, Prime Minister Lee Hsien Loong has asked Finance Minister Tharman Shanmugaratnam to start thinking of ways to help Singaporeans, particularly lower-income groups, and companies in the Budget next year, he said.
'We must do this in a way which not only eases the pain, but which also positions us to take advantage of the recovery later on,' Mr Goh said.
Second, he reminded Singaporeans of past crises they had overcome - the 1997 Asian financial crisis and the 2003 Sars outbreak.
'Those were the days when it seemed like the crisis would never end, but it did, and we bounced back,' he said, and urged the nation to 'stick together' to tackle the financial upheaval if it is prolonged.
Third, Singaporeans can take heart that the Republic's economic fundamentals are strong.
=> As in eating bricks when need be?
The nation will still draw 'a healthy pipeline' of investments through the Economic Development Board.
=> Giving free money extracted from Peasants to foreigners to "invest" here and then justify awesome bonuses for themselves for job well done?
He cited a recent report by OCBC Bank that rated Singapore as the best-equipped among 50 global economies to overcome a serious economic crisis.
=> Why didn't he check this out ->
http://www.nationmultimedia.com/2007/07/02/book/book_30038759.php
Singapore is brilliant at self-promotion, says an Australian analyst, but it is no financial dynamo. Much of the world has been deluded by its hollow roars of success
The Singapore economy is also more diversified compared to 10 years ago, he said, adding that the heavy national investment in education will help Singaporeans survive the downturn.
'With education, skills and a determination to work hard and succeed, we need never fear the future,' he said. 'We can survive the temporary difficulties.'
The bigger worry for the Government is whether there will be a global recession, he said. There are signs that this is impending, with a plunge in stock prices worldwide as one indication.
He noted that Singapore's stock market has fallen by half - wiping $318billion off its value - compared to a record high last year. The sharp dip in wealth could lead to a slump in global consumption.
So, while Singapore is expected to still grow by about 3per cent this year, he said next year's growth could be slower.
Earlier this month, the Trade and Industry Ministry lowered its full-year growth forecast to 'around 3per cent' - from 4to 5per cent previously.
Now, the stability of the financial system is the Government's top priority, said Mr Goh, who chairs the Monetary Authority of Singapore (MAS).
That was why MAS moved last Thursday to guarantee the bank deposits of individual and corporates until the end of 2010, he explained.
=> Wait a min. Did Tartman not sing different tune just last week that guarantee bank deposit would be a sign of instability?
This followed similar steps taken in recent weeks by several countries and Singapore's financial rival, Hong Kong.
Yesterday morning, at an event at which he received an honorary doctorate from South Africa's University of Pretoria, Mr Goh said the financial crisis underscored the need for the role of government.
=> Sure, but the Familee would cherry pick the role to play. When it comes to fulfilling its duty to Sporns and protecting their interests, it would act blur. When it comes to profiteering from Sporns, it would be first in the line.
Giving examples, he said Western governments had had to intervene in the free-market system by recapitalising commercial and investment banks and providing guarantees for bank deposits.
Noting that the role of government was earlier predicted to diminish in a globalised world, he said: 'I would argue that the role of the government remains critical, and strong political leadership is more indispensable than before.'
=> Strong only when it comes to persecuting the people and nowhere to be seen when it comes to tackling real problems? This is the kind of "leadership" that Sporns can do well without!
[email protected]
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Govt ready to ease pain of crisis fallout
</TR><!-- headline one : end --><TR>Possible recession is a worry but S'pore will emerge stronger: SM </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Kor Kian Beng
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
'We must do this in a way which not only eases the pain, but which also positions us to take advantage of the recovery later on,' Mr Goh said. -- ST PHOTO: CAROLINE CHIA
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->Bad times may lie ahead but the Government is ready to help, said Senior Minister Goh Chok Tong last night.
He sent out this message of hope even as he gave a realistic sense of the possible fallout from the global financial crisis.
He gave three reasons for why Singapore, as it prepares for a global downturn, can be confident of emerging from the crisis stronger than ever.
First, the Government is ready to provide help if bad times come, he said at a Marine Parade GRC Hari Raya Aidilfitri celebration.
In fact, Prime Minister Lee Hsien Loong has asked Finance Minister Tharman Shanmugaratnam to start thinking of ways to help Singaporeans, particularly lower-income groups, and companies in the Budget next year, he said.
'We must do this in a way which not only eases the pain, but which also positions us to take advantage of the recovery later on,' Mr Goh said.
Second, he reminded Singaporeans of past crises they had overcome - the 1997 Asian financial crisis and the 2003 Sars outbreak.
'Those were the days when it seemed like the crisis would never end, but it did, and we bounced back,' he said, and urged the nation to 'stick together' to tackle the financial upheaval if it is prolonged.
Third, Singaporeans can take heart that the Republic's economic fundamentals are strong.
=> As in eating bricks when need be?
The nation will still draw 'a healthy pipeline' of investments through the Economic Development Board.
=> Giving free money extracted from Peasants to foreigners to "invest" here and then justify awesome bonuses for themselves for job well done?
He cited a recent report by OCBC Bank that rated Singapore as the best-equipped among 50 global economies to overcome a serious economic crisis.
=> Why didn't he check this out ->
http://www.nationmultimedia.com/2007/07/02/book/book_30038759.php
Singapore is brilliant at self-promotion, says an Australian analyst, but it is no financial dynamo. Much of the world has been deluded by its hollow roars of success
The Singapore economy is also more diversified compared to 10 years ago, he said, adding that the heavy national investment in education will help Singaporeans survive the downturn.
'With education, skills and a determination to work hard and succeed, we need never fear the future,' he said. 'We can survive the temporary difficulties.'
The bigger worry for the Government is whether there will be a global recession, he said. There are signs that this is impending, with a plunge in stock prices worldwide as one indication.
He noted that Singapore's stock market has fallen by half - wiping $318billion off its value - compared to a record high last year. The sharp dip in wealth could lead to a slump in global consumption.
So, while Singapore is expected to still grow by about 3per cent this year, he said next year's growth could be slower.
Earlier this month, the Trade and Industry Ministry lowered its full-year growth forecast to 'around 3per cent' - from 4to 5per cent previously.
Now, the stability of the financial system is the Government's top priority, said Mr Goh, who chairs the Monetary Authority of Singapore (MAS).
That was why MAS moved last Thursday to guarantee the bank deposits of individual and corporates until the end of 2010, he explained.
=> Wait a min. Did Tartman not sing different tune just last week that guarantee bank deposit would be a sign of instability?
This followed similar steps taken in recent weeks by several countries and Singapore's financial rival, Hong Kong.
Yesterday morning, at an event at which he received an honorary doctorate from South Africa's University of Pretoria, Mr Goh said the financial crisis underscored the need for the role of government.
=> Sure, but the Familee would cherry pick the role to play. When it comes to fulfilling its duty to Sporns and protecting their interests, it would act blur. When it comes to profiteering from Sporns, it would be first in the line.
Giving examples, he said Western governments had had to intervene in the free-market system by recapitalising commercial and investment banks and providing guarantees for bank deposits.
Noting that the role of government was earlier predicted to diminish in a globalised world, he said: 'I would argue that the role of the government remains critical, and strong political leadership is more indispensable than before.'
=> Strong only when it comes to persecuting the people and nowhere to be seen when it comes to tackling real problems? This is the kind of "leadership" that Sporns can do well without!
[email protected]
