Dear xtreiyer
Thanks for your comments. While I am losing my keenness to
debate with you, I must address some of the points you have raised,
if only for the sake of stopping your mis-information from
spreading.
My solutions are not self-centred at all, because they make life
easier for the common man. As far as depletion of reserves is
concerned, surely my solutions won't dent Singapore's wealth any
more than Temasek's disastrous investments have already.
"This crisis is biz related. A biz exist to make profits, from
sales' orders. This would be how they would earn money to hire
people and pay them from parts of the profits earned."
Biz doesn't operate in a vacuum. It cannot and should not
function independent of society, government and law. Which is why I
disagree with your contention that govt shouldn't intervene in
corporate affairs. Of course, I also believe govt intervention
should be kept to a minimum in order to let companies flourish.
"While everyone is lamenting and wailing about the crisis, take
a good look at the shopping malls - are they totally devoid of
customers? Take a good look at our harbour - is it empty of ships?
Take a good look at Changi airport - are there no tourists? Take a
good look at our factories - have they ALL shut down?"
That's the biggest lie people like you are spreading. Shipping,
one of Singapore's lifelines, is in deep, deep trouble. The sector
will likely get hammered even more in the coming months, as global
trade grinds to a snail's pace.
There is no shortage of crowds at Mustafa or Orchard, but that
alone is not an indicator of a healthy economy. People will always
shop because they need to survive. However, what CAN be considered
an indicator is how many shops/pubs/stores have shut down. The govt
is doing the right thing by making it even more easier for people
to do business here, but it remains to be seen to what extent it is
successful.
Factories? Man, you have no idea what's going on! Many chip
companies are slashing production and capacity utilization.
Manufacturing will find it very difficult to stay afloat as global
demand keeps falling.
And if you read the papers today, you can see tourism is
expected to fall this year. From today's Channelnewsasia:
"Singapore expects visitor arrivals to drop as much as 11 per cent
this year as the global recession curtails consumer spending and
holiday plans. Mr Iswaran said 2009 will be a difficult year for
the global tourism industry and that tourist arrivals may fall to
between 9 and 9-and-a-half million this year. Tourist arrivals fell
1.6 per cent to 10.1 million last year. Total tourism receipts
generated are also expected to fall to a range of S$12b to S$12.5b
this year, down from S$14.8b in 2008."
That's almost $3 b in reduced income!
Open you eyes, man! You think I am a pessimist but I'd like to
see myself as a realist. There's no point pretending we are not in
trouble, and that the "spirit of Singapore" will overcome
everything. Look at what's happening around in the world and how it
is affecting us or will affect us. The government does realize all
is not well and has taken some steps: my grouse is that they are
not going further, due to this strange fear of "welfare".
Do you need to speak with a 'forked tongue'?
"Losing my keeness to debate with you" and yet you still debate
on? and many more other instances of your double speak of which i
shall not list to embarass you any further, to keep your youthful
naive pride intact.
Misinformation? Since when did i not acknowledge we are in
trouble?
The only difference between you and me is that i call for action
whereelse you choose to rely on numbers as an excuse to beg!
There is more to biz than just numbers, economists and accounts
often makes in processing and analyzing data. If numbers can be
relied on, then this financial crisis would have been long averted.
The human element is a number you cannot scientifically figure in
ANY calculations.
It is far too complex that even E8 theory many not fully
diagnose it. Vietnam was a war that McNamara tried to run
mathematically based on attrition rate. So much for his theory, and
ended up americans being kick off vietnamese roofs and out of the
country.
So too, you, a self proclaimed 'realist' is doing the same. This
is a crisis, the human element is the solution, not numbers you
hold to so much. There is only so much the govt can do, and when
our reserves are depleted, you and i will have to start
begging.
PS. I am not from the ruling party. My views are my own and am
fully responsible. I am only a private citizen offering my insight
on free will basis. I will not mislead anyone to presume i am from
there or the opposition camp. They have better and more capable
officers than i can ever be.