Singaporeans complained about rising HDB flat prices to PAP minister

Watchman · Dec 7, 2010

Singaporeans complained about rising HDB flat prices to PAP minister
December 6th, 2010 | Author: Editorial

In a sign that the rising property prices will be a hot issue in the coming general election,
PAP minister without portfolio Lim Hwee Hua was “swarmed” with complaints from
Singaporeans about the ever rising HDB flat prices and Cash-Over-Valuation.
Ms Lim acknowledged the desire of Singaporeans to own their homes and claimed
that the Ministry of National Development has “looked” into the matter and “realized”
that it is caused by a “small percentage” of private property owners who
speculate on the properties.
However, Ms Lim failed to address genuine concerns on the ground that the
astronomical rise in prices is due to the relentless influx of immigrants brought
in by the PAP regime to replace Singaporeans.
Instead, she praised her ministry for implementing a series of “cooling measures”
to cool the market down.
“So we decided to have the cooling measures… to cool the market down.
And the starting point is meeting the needs of Singaporeans who would like
to own a flat,” she was quoted as saying in Channel News Asia.
PAP National Development Minister Mah Bow Tan initially proclaimed that
there is nothing he can do to control property prices, but later back
tracked and said that the “cooling measures” are “working”.

.

Jamison

besotted · Dec 7, 2010

too much volatility is no good

but a rising trend over time is good

protects asset values, reward the older generation for contribution in the past and ensure that the younger generation don't become too soft

the last point is very important. we are more and more seeing young becoming entitlement-driven; they think society owes them a living; they don't wanna work hard; they are afraid of competition; they want unemployment benefits like in the softie west

Dreamer1 · Dec 7, 2010

The old man has these sort of complaints about the younger generations.

"back in my day, we had no machines to help us do our jobs, these young folks severely lack drive & effort!"
"back in my day, we had no computers to help us do our jobs, these young folks severely lack drive & effort!"

old man always complain about the lack of "common sense" .... (Something said about your own generation at one time, don't forget)

Me,I am a young 65 years old going 66,and I do not complain...

tanwahtiu · Dec 7, 2010

Singaporeans complained about rising HDB flat prices to PAP minister without portfolio Lim Hwee Hua
December 6th, 2010 | Author: Editorial

Minister without a portfolio? What is this?

Is it like a driver without a need of a driving license and is allow to drive?

Watchman · Dec 7, 2010

Meaning just a PR person without power to taiji away the grievances .

johnny333 · Dec 7, 2010

besotted said:
the last point is very important. we are more and more seeing young becoming entitlement-driven; they think society owes them a living; they don't wanna work hard; they are afraid of competition; they want unemployment benefits like in the softie west

Maybe it's because it's a case of monkey sees, monkeys wants :confused:

Our leaders, the PAP expects their own salaries, bonuses, perks,..., to keep going up & up. The young look up to the leaders of Spore as role models as how to behave :smile:

Dreamer1 · Dec 7, 2010

johnny333 said:
Maybe it's because it's a case of monkey sees, monkeys wants

Our leaders, the PAP expects their own salaries, bonuses, perks,..., to keep going up & up. The young look up to the leaders of Spore as role models as how to behave

Exactly,isn't PAP the one who master mind the get rich quick,we have no time to wait

Who to blame,no one except MM LKY!

ivebert · Dec 7, 2010

johnny333 said:
Maybe it's because it's a case of monkey sees, monkeys wants

Our leaders, the PAP expects their own salaries, bonuses, perks,..., to keep going up & up. The young look up to the leaders of Spore as role models as how to behave

Why are you so prejudiced?

They are safeguarding 200 billions of foreign reserves and keep watch over a trillion dollars of assets for Singapore. They may lose some money here and there but in general, they are doing extremely well in China and India right now.

And you expect to pay our top guys $400,000?

Get real. With $3 million, we don't even pay 1/10 of what they are paying the junior VPs of Morgan Stanley or Goldman Sachs, who manages lesser amount of assets.

:oIo: Step out of your peasant shoes :oIo:

ivebert · Dec 7, 2010

Dreamer1 said:
Exactly,isn't PAP the one who master mind the get rich quick,we have no time to wait

Who to blame,no one except MM LKY!

You can hate him but you cannot discredit him. Without him, you will be living in a kampung now, not a HDB peasant pigeonhole he built for you :oIo: Either way, it doesn't look rosy for you. :biggrin:

johnny333 · Dec 7, 2010

ivebert said:
Why are you so prejudiced?

Am I being prejudiced :confused:

PAP MPs are using Spores "highest paid salaries" as a benchmark for their own salary. Whether or not you think they deserve such high pay is debateable, but many younger Sporeans are using them as a benchmark to set expectations.

So if you think anyone is being overpaid, then you should talk to LKY :rolleyes:

johnny333 · Dec 7, 2010

ivebert said:
Get real. With $3 million, we don't even pay 1/10 of what they are paying the junior VPs of Morgan Stanley or Goldman Sachs, who manages lesser amount of assets.

Do we have instituitions similar to Morgan Stanley or Goldman Sachs in Spore :confused:

If we did, I'm sure some of the young of Spore would use them as role models.

Instead the young have seen that despite loosing billions$$$, those in charge of Temasek have continued to collect their millions.

ivebert · Dec 7, 2010

johnny333 said:
Am I being prejudiced

PAP MPs are using Spores "highest paid salaries" as a benchmark for their own salary. Whether or not you think they deserve such high pay is debateable, but many younger Sporeans are using them as a benchmark to set expectations.

So if you think anyone is being overpaid, then you should talk to LKY

LKY again. You hate him so much?

He may have made some mistakes, but you cannot deny that his iron fist was the reason why we draw in so much money in the 70s, 80s and 90s. Cheap educated labor and unionless work force was our strength, which is only possible with him. Without LKY, we couldn't have 20 years of prosperity before India/China woke up. Without that 20 years of $$$, how can we possibly reach our current stage? Ask yourself, did you hate him in the 90s?

Also, LKY is always behind the scene pulling some strings with US and he is why we have F16SG and US ships docking at our shipyards, safeguarding the SEA region. Not to mention his visionary work for a ASEAN FTA with China.

Plenty of things to talk about but at the end, you think he doesn't deserve getting paid because he's old but he's still adding value that no one can and that's why he's getting paid. Do you seriously think he wants that $3 million? Wake up! Be thankful that you can retire overseas with the money you get from selling the flat he provided you with! :rolleyes:

People like him don't give a shit about $. It's his legacy and contributions that matter. For any matter, he has done a lot to increase the asset values of all Singaporeans.

ivebert · Dec 7, 2010

johnny333 said:
Do we have instituitions similar to Morgan Stanley or Goldman Sachs in Spore

If we did, I'm sure some of the young of Spore would use them as role models.

Instead the young have seen that despite loosing billions$$$, those in charge of Temasek have continued to collect their millions.

No doubt that Temasek and GIC lost a lot of money in 2008 and 2009.

The question posed to you is, will they continue losing money in 2010 and beyond? Have they lost a lot of money before 2008?

Even if you placed the best Harvard MBAs in Temasek, you cannot win in the financial crisis because only the IBs who started the subprime mortage crisis gained from it.

You are condemning Temasek for their miserable 2 years and have forgotten about their record in the last 30 years and future performance, which is very rosy. All those well-paid people in these investment holdings have done a lot of work to secure deals in China, India and Indonesia for many years. They have made a lot more than they have lost. Are you going to sack them for something they cannot predict and prevent? And how do you know they have not taken a pay cut?

Come on, you can do better than that. You cant sack these bankers/deal-mongers like you wish. They have developed unique relationships and special skillsets that cannot be trained elsewhere. Get it or not.. It's not like a programmer, you can sack him anytime you want and replace him easily.

rodent2005 · Dec 7, 2010

ivebert said:
They are safeguarding 200 billions of foreign reserves and keep watch over a trillion dollars of assets for Singapore.

Who are guarding the 200 billions of foreign reserves? Every single minister? Wong Kan Seng? Yacob? Mah Bow Tan? Who exactly? They do it all alone?

Dreamer1 · Dec 7, 2010

rodent2005 said:
Who are guarding the 200 billions of foreign reserves? Every single minister? Wong Kan Seng? Yacob? Mah Bow Tan? Who exactly? They do it all alone?

HaHa,the only one with the key is Madam HO,I doubt PM LHL has that vital KEY!

Ah Lao,if he asked,sure will be given right now as he is still alive and kicking,niot for too long though!

rodent2005 · Dec 7, 2010

ivebert said:
You can hate him but you cannot discredit him. Without him, you will be living in a kampung now, not a HDB peasant pigeonhole he built for you :oIo: Either way, it doesn't look rosy for you.

Now, who can possibly know for sure? LKY was not exactly the economics brain, people like Albert Winsemius, Goh Keng Swee, Hon Sui Sen were. LKY was a brilliant politician, yes, but an economist? Most likely not.

Many places have thrived without a LKY. Suzhou did not appear to be successful, to put it mildly, in spite of LKY.

rodent2005 · Dec 7, 2010

ivebert said:
You are condemning Temasek for their miserable 2 years and have forgotten about their record in the last 30 years and future performance, which is very rosy. All those well-paid people in these investment holdings have done a lot of work to secure deals in China, India and Indonesia for many years. They have made a lot more than they have lost..

Did they make from overseas or local investments?

Well, no one can know for sure unless Temasek opens up its books.

Come on, you can do better than that. You cant sack these bankers/deal-mongers like you wish. They have developed unique relationships and special skillsets that cannot be trained elsewhere. Get it or not.. It's not like a programmer, you can sack him anytime you want and replace him easily.

If you don't want to die, cut off the cancerous tumour eventhough the operation is dangerous and complex.

johnny333 · Dec 7, 2010

ivebert said:
LKY again. You hate him so much?

.

LKY is the strongman of Spore, the one who is given credit for "founding" Spore. With any credit comes criticism, you can't suka, suka just focus on the good things & ignore the criticism.

I criticise people like Suharto, Marcos & LKY. They all took advantage of their positions.

He's abused his position: jailing, sueing his critics,... He's also gotten very wealthy at the expense of other Sporeans. How wealthy we'll never know since the abolishment of the estate taxes :rolleyes:

johnny333 · Dec 7, 2010

ivebert said:
No doubt that Temasek and GIC lost a lot of money in 2008 and 2009.

The question posed to you is, will they continue losing money in 2010 and beyond? Have they lost a lot of money before 2008?
.........

Can anyone tell me the purpose of Temasek :confused:

If the gov't is generating so much surplus tax $$$ to buy foreign banks, telcos,....., then obviously we are being over-taxed & the gov't is not spending $$ on its own citizens :rolleyes:

Don't give me the 'excuse" that we are saving for a rainy day because we have all seen the floods in Spore :rolleyes:

bryanlim1972 · Dec 7, 2010

ivebert said:
Why are you so prejudiced?

They are safeguarding 200 billions of foreign reserves and keep watch over a trillion dollars of assets for Singapore. They may lose some money here and there but in general, they are doing extremely well in China and India right now

and to what end are they making all that money? if all those investments don't appear to be benefiting ordinary singaporeans, then what is the point? making more money, just to make more money, just to justify the high salaries?

and don't forget, a good chunk of this money came from land sales. which we indirectly pay for when we purchase from developers and HDB, especially since HDB prices at market rather than cost.

the government should raise the top personal income tax rate for all resident Singaporeans to 30%. don't raise it for foreigners, because we should only squeeze singaporeans, in this case, the top bracket.

Singaporeans complained about rising HDB flat prices to PAP minister

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