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ckmpd's news clippings - consolidated
- Thread starter ckmpd
- Start date
Re: Crumbling of Singapore?
Matt Miller:
"frustration has reached the point where the opposition Workers’ Party has been able to recruit some impressive talent. In the past, those ambitious for public service naturally joined the PAP — in a one-party state, there was no other path to power and impact. This pattern also let the PAP dismiss its political foes as not being up to the job of governing. That’s why heads turned when Chen Show Mao, a 50-year-old Davis Polk lawyer and former Rhodes Scholar with degrees from Harvard, Stanford and Oxford, came home after a legal career in New York, Hong Kong and Beijing and joined the opposition. "
Matt Miller:
"frustration has reached the point where the opposition Workers’ Party has been able to recruit some impressive talent. In the past, those ambitious for public service naturally joined the PAP — in a one-party state, there was no other path to power and impact. This pattern also let the PAP dismiss its political foes as not being up to the job of governing. That’s why heads turned when Chen Show Mao, a 50-year-old Davis Polk lawyer and former Rhodes Scholar with degrees from Harvard, Stanford and Oxford, came home after a legal career in New York, Hong Kong and Beijing and joined the opposition. "
Re: Crumbling of Singapore?
Matt Miller:
"If Prime Minister Lee went into the last election with an apology, his actions afterward have been a long way of saying “we heard you.” The question is whether it will seem like enough. “If you have one of the best-educated middle classes in the world,” says Kishore Mahbubani, a former diplomat who’s now dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, “the terms of engagement are going to change.”"
Matt Miller:
"If Prime Minister Lee went into the last election with an apology, his actions afterward have been a long way of saying “we heard you.” The question is whether it will seem like enough. “If you have one of the best-educated middle classes in the world,” says Kishore Mahbubani, a former diplomat who’s now dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, “the terms of engagement are going to change.”"
Re: Crumbling of Singapore?
Matt Miller:
"Do citizens think Singapore is on the right track or the wrong track? Do they trust government to do the right thing (and how is this sentiment trending)? How do citizens rank the issues they want government to address? Do they think the opposition would be capable of governing? Singapore’s leadership wouldn’t want to become a slave to polls, like too many Western politicians – but neither should leaders be surprised by or out of touch with public sentiment"
Matt Miller:
"Do citizens think Singapore is on the right track or the wrong track? Do they trust government to do the right thing (and how is this sentiment trending)? How do citizens rank the issues they want government to address? Do they think the opposition would be capable of governing? Singapore’s leadership wouldn’t want to become a slave to polls, like too many Western politicians – but neither should leaders be surprised by or out of touch with public sentiment"
Re: Crumbling of Singapore?
Matt Miller:
"build on Singapore’s legacy of policy creativity to redistribute income and promote upward mobility in ways that still honor the country’s skepticism toward Western-style welfare states. Every advanced economy is finding that globalization and rapid technological change are widening the gap between the rich and the rest. It’s difficult to maintain political legitimacy, and sustain support for the continuous economic change that fuels growth, without assuring that the benefits of growth are more widely shared."
Matt Miller:
"build on Singapore’s legacy of policy creativity to redistribute income and promote upward mobility in ways that still honor the country’s skepticism toward Western-style welfare states. Every advanced economy is finding that globalization and rapid technological change are widening the gap between the rich and the rest. It’s difficult to maintain political legitimacy, and sustain support for the continuous economic change that fuels growth, without assuring that the benefits of growth are more widely shared."
Re: Crumbling of Singapore?
Reuters:
"Singapore Telecommunications Ltd, Southeast Asia's biggest telecoms firm, on Thursday acknowledged mobile Internet speeds in the city-state are slow and said it is introducing plans that offer more reliable connections.
Despite being a major Asian business centre with a tech-savvy image, Singapore is among the countries with the slowest mobile Internet speeds, according to checks by Google"
Reuters:
"Singapore Telecommunications Ltd, Southeast Asia's biggest telecoms firm, on Thursday acknowledged mobile Internet speeds in the city-state are slow and said it is introducing plans that offer more reliable connections.
Despite being a major Asian business centre with a tech-savvy image, Singapore is among the countries with the slowest mobile Internet speeds, according to checks by Google"
Re: Crumbling of Singapore?
Roy Chan rebuking LHL:
"“Take off your party hat for a moment and tell me if our PM looks statesman-like? Have you given Singaporeans “a full and proper account of what happened” and why you decided not to call for by-election in past cases involving PAP MPs? Has anyone explained to Tanjong Pagar residents, whom I am one, why our respectable statesman LKY should still be our MP even in his twilight years knowing full well he cannot serve us in anyway.”"
Roy Chan rebuking LHL:
"“Take off your party hat for a moment and tell me if our PM looks statesman-like? Have you given Singaporeans “a full and proper account of what happened” and why you decided not to call for by-election in past cases involving PAP MPs? Has anyone explained to Tanjong Pagar residents, whom I am one, why our respectable statesman LKY should still be our MP even in his twilight years knowing full well he cannot serve us in anyway.”"
Re: Crumbling of Singapore?
Temasek Times:
"An angry Workers Party supporter Roy Chan has slammed Prime Minister Lee Hsien Loong on his Facebook page asking him to ‘reflect’ on himself first before criticizing the Workers Party for its handling of the Yaw Shin Leong sex scandal."
Temasek Times:
"An angry Workers Party supporter Roy Chan has slammed Prime Minister Lee Hsien Loong on his Facebook page asking him to ‘reflect’ on himself first before criticizing the Workers Party for its handling of the Yaw Shin Leong sex scandal."
Re: Crumbling of Singapore?
PublicHouse:
"Even if the PAP sent out its big guns ministers to the ground to canvass for its likely candidate, Mr Desmond Choo, they would not carry much weight, especially in the prevailing political climate. In fact, the ministers themselves are seen as the causes of the ills which Singaporeans perceive in matters such as housing, jobs, wages, and the frequent breakdowns of the transport system."
PublicHouse:
"Even if the PAP sent out its big guns ministers to the ground to canvass for its likely candidate, Mr Desmond Choo, they would not carry much weight, especially in the prevailing political climate. In fact, the ministers themselves are seen as the causes of the ills which Singaporeans perceive in matters such as housing, jobs, wages, and the frequent breakdowns of the transport system."
Re: Crumbling of Singapore?
Anonymous, Ti amo:
"At the end of the day, it's sad that the PAP does not realise that what it says and does against it's opposition (not their policies) is alienating the population further. I guess for every defamation suit they take and win, at least another 10,000 people feel sick in their stomuch. For every persumed unfair tactic employed another 10,000 feel sick. If only they concerntrate on what they are paid to do and do it properly will they earn the people's respect, right now they have lost all credibility"
Anonymous, Ti amo:
"At the end of the day, it's sad that the PAP does not realise that what it says and does against it's opposition (not their policies) is alienating the population further. I guess for every defamation suit they take and win, at least another 10,000 people feel sick in their stomuch. For every persumed unfair tactic employed another 10,000 feel sick. If only they concerntrate on what they are paid to do and do it properly will they earn the people's respect, right now they have lost all credibility"
Re: Crumbling of Singapore?
Francis Peh Hui Xiong, Ti amo:
"I used to be a strong supporter for the PAP until there have been an increase of negative news about the words they said. Words like "People will have 5 years to repent" after WP won the seats for Aljunied GRC was totally uncalled for. And I feel there's no need to keep on commenting on the negative past events of other political parties because in the end which political party can stand out and say that they are perfect? Not even them."
Francis Peh Hui Xiong, Ti amo:
"I used to be a strong supporter for the PAP until there have been an increase of negative news about the words they said. Words like "People will have 5 years to repent" after WP won the seats for Aljunied GRC was totally uncalled for. And I feel there's no need to keep on commenting on the negative past events of other political parties because in the end which political party can stand out and say that they are perfect? Not even them."
Re: Crumbling of Singapore?
"As was noted in the original paper, this implies one of two things: 1) the returns are fictitious and there has been a lot of money lost OR 2) there are enormous unreported holdings controlled by Singaporean public entities. You simply cannot explain $500 billion SGD in surpluses and increased indebtedness without asking where that money has gone. As of right now, there is no record of public Singaporean assets to match what we would expect to find. Show me additional assets that should be there. Temasek and GIC don’t have them. Where is the missing money? If it wasn’t spent, and there is no public record of that, then it should be a financial asset under public Singaporean control.
As a last point, if these surpluses and additional borrowing even matched the rate the CPF pays out to Singaporean citizens of 4% would equal approximately $750 billion SGD. This is 50% more than the estimated holdings of Temasek and the GIC. Unless someone can find hundreds of billions of unreported Singaporean public assets, we should assume this money has gone to money heaven.
Next time, I will describe exactly how the Central Provident Fund plays in to all this and why Singaporean should be worried…..very very worried."
.
Christopher Balding
*The writer is a professor of business and economics at the HSBC Business School at the Peking University Graduate School. An expert in sovereign wealth funds, his writings have been published in such leading journals as the Review of International Economics, the Journal of Public Economic Theory, and the International Finance Review on such diverse topics as CDS pricing, the WTO, and the economics of adoption and abortion. His work has also been cited by a variety of media outlets including the Wall Street Journal and the Financial Times.
"As was noted in the original paper, this implies one of two things: 1) the returns are fictitious and there has been a lot of money lost OR 2) there are enormous unreported holdings controlled by Singaporean public entities. You simply cannot explain $500 billion SGD in surpluses and increased indebtedness without asking where that money has gone. As of right now, there is no record of public Singaporean assets to match what we would expect to find. Show me additional assets that should be there. Temasek and GIC don’t have them. Where is the missing money? If it wasn’t spent, and there is no public record of that, then it should be a financial asset under public Singaporean control.
As a last point, if these surpluses and additional borrowing even matched the rate the CPF pays out to Singaporean citizens of 4% would equal approximately $750 billion SGD. This is 50% more than the estimated holdings of Temasek and the GIC. Unless someone can find hundreds of billions of unreported Singaporean public assets, we should assume this money has gone to money heaven.
Next time, I will describe exactly how the Central Provident Fund plays in to all this and why Singaporean should be worried…..very very worried."
.
Christopher Balding
*The writer is a professor of business and economics at the HSBC Business School at the Peking University Graduate School. An expert in sovereign wealth funds, his writings have been published in such leading journals as the Review of International Economics, the Journal of Public Economic Theory, and the International Finance Review on such diverse topics as CDS pricing, the WTO, and the economics of adoption and abortion. His work has also been cited by a variety of media outlets including the Wall Street Journal and the Financial Times.
Re: Crumbling of Singapore?
Prof Chris Balding:
"Returning to the question I posed in the previous post, if the Singaporean government enjoyed free cash flow from budget surpluses and borrowing totaling $512 billion SGD between 1991 and 2002, where did the money go?
To be clear there is no public record of expenditures by the Singaporean government to account for the $512 billion SGD in free cash flow since 1991. Nor is there as public record of assets held by Temasek, GIC, or other public body in large enough amount to account for such a large discrepancy. Remember if this $512 billion earned the 7% GIC claims to have earned there should be more than $1 trillion in assets.
The reason the CPF matters and should concern Singaporeans is simple. The government of Singapore is borrowing money from its citizens through the CPF payed 2.5-4% and investing that money in other assets through GIC and Temasek hoping to earn a higher return. Publicly, GIC and Temasek claimed to have earned 7% and 17% since inception meaning they are earning a comfortable spread above the 2.5-4% they must pay for those funds. If Temasek and GIC earn less than the 2.5-4% they pay to the CPF, the government must essentially subsidize the losses to keep the CPF whole.
Prof Chris Balding:
"Returning to the question I posed in the previous post, if the Singaporean government enjoyed free cash flow from budget surpluses and borrowing totaling $512 billion SGD between 1991 and 2002, where did the money go?
To be clear there is no public record of expenditures by the Singaporean government to account for the $512 billion SGD in free cash flow since 1991. Nor is there as public record of assets held by Temasek, GIC, or other public body in large enough amount to account for such a large discrepancy. Remember if this $512 billion earned the 7% GIC claims to have earned there should be more than $1 trillion in assets.
The reason the CPF matters and should concern Singaporeans is simple. The government of Singapore is borrowing money from its citizens through the CPF payed 2.5-4% and investing that money in other assets through GIC and Temasek hoping to earn a higher return. Publicly, GIC and Temasek claimed to have earned 7% and 17% since inception meaning they are earning a comfortable spread above the 2.5-4% they must pay for those funds. If Temasek and GIC earn less than the 2.5-4% they pay to the CPF, the government must essentially subsidize the losses to keep the CPF whole.
Re: Crumbling of Singapore?
The Singapore Soul in Hougang Spirit
"The stranger next to me offered his umbrella. Almost in unison, mats become makeshift tent, muddled papers were torn and shared..."
It started to rain. The stranger next to me offered his umbrella. Almost in unison, mats become makeshift tent, muddled papers were torn and shared. Children and old folks were accorded priority and preference for rain cover. As if the heaven decides to shower its timely blessing on the candidate, the audience reciprocate with kindness among us all.
Earlier on, an old uncle who recovered from stroke some years back, walked step-by-step into the field. He smiled and told me, the residents of Hougang are the suicide squad for Singapore’s democracy. They didn’t die and they conquered Aljunied GRC.
He too, stayed behind and gently waived off various offer of umbrella shelter. He said, rain or shine, in good health or otherwise, he will stand in honor of his MPs and WP for their more than 20 years of dedicated service. He knows the truth. The lies and half truths from main stream media never sway his opinion.
Many of our hearts weep for the old folks who labor through their daily lives because they are discriminated by the PAP. They climb up and down the staircase, and walked because bus routes were taken away. Market was torn down but now offered in the midst of elections.
Their 20 years of support has not been in vain. It has created a culture of communal caring and sacrifice, mutual loyalty and an equitable sharing of efforts and responsibility between their MP and residences. There is no better role model for the rest of the country.
And while our Singaporean man performed National Service to demonstrate our loyalty for our country, the PAP government stripped Singapore citizenship of its dignity – its innate humanity. The citizenship was traded for GDP growth, its only value is that it is a cost of production. It breeds insatiable greeds and destroyed a country very soul.
We have also read the co-ordinated and mischievous spin on WP’s NCMP selection process by DPM Teo Chee Hian and the main stream media. Mr Low explained. And we are satisfied. That only leaves the question if DPM Teo Chee Hian is able to rise above politics and is fit to be the leader for our country for an inclusive society. For he and his party, sabotage our fellow country man at Hougang. All for party glory.
All is not lost, where the PAP is misguided, neglected and mislead, the Workers Party has found. They have captured our hearts, our needs and our imperative. And rekindle an imagination of life possible on the basis of justice and equality for all. Loyalty, dignity and honor give a country strength. It brings joys to nation building.
Today, this very night, we found our Singapore soul."
King T
The Singapore Soul in Hougang Spirit
"The stranger next to me offered his umbrella. Almost in unison, mats become makeshift tent, muddled papers were torn and shared..."
It started to rain. The stranger next to me offered his umbrella. Almost in unison, mats become makeshift tent, muddled papers were torn and shared. Children and old folks were accorded priority and preference for rain cover. As if the heaven decides to shower its timely blessing on the candidate, the audience reciprocate with kindness among us all.
Earlier on, an old uncle who recovered from stroke some years back, walked step-by-step into the field. He smiled and told me, the residents of Hougang are the suicide squad for Singapore’s democracy. They didn’t die and they conquered Aljunied GRC.
He too, stayed behind and gently waived off various offer of umbrella shelter. He said, rain or shine, in good health or otherwise, he will stand in honor of his MPs and WP for their more than 20 years of dedicated service. He knows the truth. The lies and half truths from main stream media never sway his opinion.
Many of our hearts weep for the old folks who labor through their daily lives because they are discriminated by the PAP. They climb up and down the staircase, and walked because bus routes were taken away. Market was torn down but now offered in the midst of elections.
Their 20 years of support has not been in vain. It has created a culture of communal caring and sacrifice, mutual loyalty and an equitable sharing of efforts and responsibility between their MP and residences. There is no better role model for the rest of the country.
And while our Singaporean man performed National Service to demonstrate our loyalty for our country, the PAP government stripped Singapore citizenship of its dignity – its innate humanity. The citizenship was traded for GDP growth, its only value is that it is a cost of production. It breeds insatiable greeds and destroyed a country very soul.
We have also read the co-ordinated and mischievous spin on WP’s NCMP selection process by DPM Teo Chee Hian and the main stream media. Mr Low explained. And we are satisfied. That only leaves the question if DPM Teo Chee Hian is able to rise above politics and is fit to be the leader for our country for an inclusive society. For he and his party, sabotage our fellow country man at Hougang. All for party glory.
All is not lost, where the PAP is misguided, neglected and mislead, the Workers Party has found. They have captured our hearts, our needs and our imperative. And rekindle an imagination of life possible on the basis of justice and equality for all. Loyalty, dignity and honor give a country strength. It brings joys to nation building.
Today, this very night, we found our Singapore soul."
King T
Re: Crumbling of Singapore?
An alternative perspective of the second WP rally
By Texas Hong -
I was at WP's second rally of this Hougang by-election. Towards the end of it, a heavy downpour descended upon us. Singaporeans from all walks of life, young and old, men and women, stood shoulder to shoulder in the soggy field, in one of the greatest show of solidarity I have ever seen in my life. Strangers became friends, friends became comrades. A woman standing behind me, old enough to be my mother, came over and shared her small umbrella with me. As it was too small for both of us, like all others in the rally, we became totally drenched.
Some of us, including me, were not Hougang voters. Neither were we WP apparatchiks – there was no reason for anyone to be one as it is not because of fear or favour that we turned up for the rally.
Amidst the chanting of “Workers’ Party” and “Huat Ah” that continued to resonate throughout the field, the real reasons why we displayed such behaviour are more than skin deep. It reflects upon our conscience as human beings. This is more than being “emotional” that the PAP had branded WP’s rallies to be. It was a display of our hard headedness against unfairness, and our desire for equality for Hougang residents who are also fellow Singaporeans.
The PAP likes to say that not everyone can be a good speaker and we should look at the substance of the individual. I beg to differ. The only reason why WP has good speakers is because they spoke with conscience and a just cause that all their supporters relate to. I am sure PAP has amongst their ranks brilliant speakers. However, a salesman however skilful cannot transform a Toyota into a Ferrari.
Last night’s atmosphere was similar to that of the voting pattern of Hougang voters over the past twenty years. They have constantly rejected promises of estate upgrading, in exchange for something intangible, something like pride and dignity. They have sacrificed themselves, for the rest of Singapore.
After 46 years of nation building and National Service, many Singaporeans still do not feel at home today. This is caused chiefly by divisions amongst locals and foreigners, income inequality in our society, and in this context – discrimination against opposition held wards.
I have participated in National Day Parades many times as a boy scout and during NS. But trust me, never did I feel more Singaporean than last night. Based on the ruggedness, unity and resilience displayed last night, not as Hougang voters but as Singaporeans, Desmond Choo can never win Hougang with his free porridges and hearing aids.
An alternative perspective of the second WP rally
By Texas Hong -
I was at WP's second rally of this Hougang by-election. Towards the end of it, a heavy downpour descended upon us. Singaporeans from all walks of life, young and old, men and women, stood shoulder to shoulder in the soggy field, in one of the greatest show of solidarity I have ever seen in my life. Strangers became friends, friends became comrades. A woman standing behind me, old enough to be my mother, came over and shared her small umbrella with me. As it was too small for both of us, like all others in the rally, we became totally drenched.
Some of us, including me, were not Hougang voters. Neither were we WP apparatchiks – there was no reason for anyone to be one as it is not because of fear or favour that we turned up for the rally.
Amidst the chanting of “Workers’ Party” and “Huat Ah” that continued to resonate throughout the field, the real reasons why we displayed such behaviour are more than skin deep. It reflects upon our conscience as human beings. This is more than being “emotional” that the PAP had branded WP’s rallies to be. It was a display of our hard headedness against unfairness, and our desire for equality for Hougang residents who are also fellow Singaporeans.
The PAP likes to say that not everyone can be a good speaker and we should look at the substance of the individual. I beg to differ. The only reason why WP has good speakers is because they spoke with conscience and a just cause that all their supporters relate to. I am sure PAP has amongst their ranks brilliant speakers. However, a salesman however skilful cannot transform a Toyota into a Ferrari.
Last night’s atmosphere was similar to that of the voting pattern of Hougang voters over the past twenty years. They have constantly rejected promises of estate upgrading, in exchange for something intangible, something like pride and dignity. They have sacrificed themselves, for the rest of Singapore.
After 46 years of nation building and National Service, many Singaporeans still do not feel at home today. This is caused chiefly by divisions amongst locals and foreigners, income inequality in our society, and in this context – discrimination against opposition held wards.
I have participated in National Day Parades many times as a boy scout and during NS. But trust me, never did I feel more Singaporean than last night. Based on the ruggedness, unity and resilience displayed last night, not as Hougang voters but as Singaporeans, Desmond Choo can never win Hougang with his free porridges and hearing aids.
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