he summed it up very well? He is a fucking moron. And stop smoking the weed in the bay area, cause that's fucked up your brains too.
bo pian. with so many anti-pappy sycophants here i have to defend sinkies' beloved pappies. otherwise, site is like gay joint in castro with faggots sucking each other's cock and ramming one another's arsehole.
nevertheless, if you consider hdb flat as a long term prepaid rental, there are many pros and some cons, but pros outweigh the cons for the overall good of the cuntry. instead of paying short term rents for majority of sinkies (as more than 69% will not be able to afford private homes in their fucked up lifetimes) it's better to house them in gov housing where they are locked in for at least 5 years with the bulk of their income and cpf savings committed on a 99-year rental agreement. the rent will remain low for at least 69 years of their pathetic existence, and they are immune to violatile market forces in the rental market (this problem is very real and destructive in hk, jp, tp, sk, and now cn). for these sinkie fucktards who can't think for themselves or plan their future and retirement, it's better to lock in the bulk of their pitiful funds to secure a rental home for them to have minimum sinkie comfort: shelter, water, electricity, tv, mattress, toilet and a couch. otherwise these morons will quickly blow their money on kars, ktv, kway, kasino, etc.
the gov on the other hand receives a windfall of cash from very advanced prepaid rental in the form of 99-year leases translated to 20-year mortgages including interest plus downpayments. only 6.9% of these fucktards know what to do with their hard earned money; the rest need the gov as nanny to safekeep and "spend" their money. with windfall in hand, sg gov can create sovereign wealth funds to invest in other forms of enterprise and investments that generate rates of return over the long term instead of letting them idle. if the money is invested wisely and generate hefty returns for sinkies, great; but if all investments go south, sinkies are fucked. but we all know if portfolio is widespread like tiong hooker's legs and geographically and industry-diverse, chances of everything going south is slim. there will be ups and downs, and the ups will offset the downs. must be objective in looking at the big picture rather than focusing on the failed ventures. of course there will be risks, failures, and losses, but no one here talks about the successes of sg swf's.