No, he got his reasons, ...as the economy pick ups..
1. The Jobs credit scheme that encourage employers to employ
Singaporeans will end by this end of the year
2. The Govt will stop pumping money to help those unskill, they
have given enough time and sustantial sponorship to them, they
will deem that all or those who care to upgrade themselves are
upgraded, there got to be a limit to all things.
3. The surge in current economy is partly due to year end season
greetings and celebration, goods is now been ordered and prepared
for year end, ships and carriers will move, people will
have work, banks will be seeing profit from credits interest,
consumers index will be high, people will travel and
buy. But by Decemeber, all these goods will be no more
in demand, we will see a over stocking of goods, bad debts, loan
and credit problem and maybe force selling of properties and of
course, retrenchment.
4. As our economy moved toward a service sector such as tours,
IR, investment, pubs etc etc ..manufacturing will suffer leading to
high retrenchment as manufacturing is no more competitive for us in
the global economy
5. As more firms will be operating their HQ and high end
research here, factory and plant operation will move out.Seagate
being the smart one first to move.
6. Lastly, by next year, most firms will not be giving out
bonuses or freeze wages leading to less spending and
production. All these lead to retrenchement. What you see
now are smart rich and middle class peoples
spending on their last year fat bonuses. By next year,
only the rich survive, the rest better start to save for
rainy day again. As for the poor or lower income, god
bless you.
Thank you
Angel
Social and Economy Dept
JCU
