Serious Ex GIC chief economist says Ong Ye Kung talking cock

[Confuseous]

Ex-GIC chief economist Yeoh Lam Keong has reiterated his desire that the Government should implement fiscally responsible social reforms, if it is serious about tackling inequality in Singapore.

Last week, Education Minister Ong Ye Kung said that Singapore’s approach to tackling inequality is to invest in the bottom to uplift them. The ruling party politician asserted that childhood education is the key to tackling inequality and that Singapore has invested heavily to make quality pre-schools affordable and accessible to all.

Responding to Mr Ong’s views, Mr Yeoh said yesterday that while he has strong personal respect for the ruling party politician, he believes that “early childhood education is not the panacea.”

Asserting that Singapore cannot seriously tackle inequality without undertaking social reforms, that should have been implemented decades ago, Mr Yeoh pointed to the insufficient support the poor and elderly receive as one of the areas the Government needs to look at. He said:

http://theindependent.sg/ex-gic-chi...nequality-without-undertaking-social-reforms/

 

[eatshitndie]

don't need early childhood education to succeed in sg. easier way is to be a pappie plp crony. best is to be a ministar.

 

[Leongsam]

There is nothing wrong with inequality. It is the natural order of things.

If everyone was equal there would be no incentive to succeed in life.

 

[nayr69sg]

There is nothing wrong with inequality. It is the natural order of things.

If everyone was equal there would be no incentive to succeed in life.

No incentive to put in any effort.

Imagine if everybody won what they paid for when they bought lottery tickets.

So EVERYBODY will say oh I won the lottery again!!!!!!! I win the lottery every single time!!!!!!

Some will boast wah I won lottery! How much? $10,000! (bought a $10,000 ticket)

This type of lottery business can or not ar?

Because basically that's what these crazy EQUALITY social justice warriors are calling for.
Waste of time lah!

 

[Leongsam]

No incentive to put in any effort.

Imagine if everybody won what they paid for when they bought lottery tickets.

So EVERYBODY will say oh I won the lottery again!!!!!!! I win the lottery every single time!!!!!!

Some will boast wah I won lottery! How much? $10,000! (bought a $10,000 ticket)

This type of lottery business can or not ar?

Because basically that's what these crazy EQUALITY social justice warriors are calling for.
Waste of time lah!

Yeah just imagine if any GP could become a specialist with no extra effort. No exams no additional experience necessary.

Three things would happen:

1. There would be no more GPs.

2. Specialist earnings would drop to what GPs used to earn because when every doctor is a specialist there is no way they can charge a premium.

3. The really talented specialists would not bother anymore. Why strive for excellence when there is nothing to be gained.

 

[eatshitndie]

no matter what the gov does in whatever political system in any country, 69% of folks will still be morons in their financial acumen. even if they were all to win jackpots in the lottery they would squander them all by 69.

https://www.fool.com/retirement/2016/09/25/nearly-7-in-10-americans-have-less-than-1000-in-sa.aspx
https://www.forbes.com/sites/niallm...han-1000-in-savings-infographic/#548878811ae6
https://www.forbes.com/sites/ranisi...l-poor-says-writer-harsh-mander/#6759131019b7
http://money.com/money/3925308/rich-families-lose-wealth/

 

[nayr69sg]

Yeah just imagine if any GP could become a specialist with no extra effort. No exams no additional experience necessary.

Three things would happen:

1. There would be no more GPs.

2. Specialist earnings would drop to what GPs used to earn because when every doctor is a specialist there is no way they can charge a premium.

3. The really talented specialists would not bother anymore. Why strive for excellence when there is nothing to be gained.

Anyway it is not in human nature to want ONE SIZE FITS ALL.

Each human being has its own specific wants and likes. And it will always be those providers who give their customers EXACTLY what each one wants that will come out top.

Essentially people are so self indulgent they are daft and have no insight. So how to have equality?

 

[winnipegjets]

There is nothing wrong with inequality. It is the natural order of things.

If everyone was equal there would be no incentive to succeed in life.

https://www.oecd-ilibrary.org/socia...nequality-affect-our-lives_9789264246010-6-en

If a few people get wealthy, does that hurt – or help – the economic prospects of everyone else and does it make our societies worse places to live? These questions aren’t new: In Plato’s Republic, written more than 2,300 years ago, discussion turns to what happens when a society is ruled by its elites: “… such a city should of necessity be not one, but two, a city of the rich and a city of the poor, dwelling together, and always plotting against one another.” The relationship between growth and inequality has long been an important question for economists, and a number of influential theories have emerged over the years. But for most people, the issue boils down to this: is rising inequality good or bad for growth? Those who believe it’s good, or at least necessary, argue that it provides incentives to entrepreneurs and a source of overall investment for the economy. Those who believe it’s bad argue that it can prevent poorer people from investing in their education and encourage the rich to grab a bigger slice of the economic pie without making the pie any bigger. The impact of rising inequality on societies is also drawing concern: “The social compact is starting to unravel in many countries”, OECD Secretary-General Angel Gurría has said. “Uncertainty and fears of social decline and exclusion have reached the middle classes in many societies.” Inequality is also a key issue in education. Education can play a powerful role in providing opportunities for people from all sorts of backgrounds, but it can also reinforce existing economic divisions in society. The OECD’s PISA programme has shown that some countries’ education systems do a much better job than others in helping students from poorer families achieve excellence. Inequality has other impacts on societies, too, including reducing mobility and, some argue, fostering crime and harming people’s health.

 

[mojito]

Of course education is the cure. But when you won't know whether it worked until a decade later. Too late then!

 

[Leongsam]

Of course education is the cure. But when you won't know whether it worked until a decade later. Too late then!

Education cannot cure stupidity. All an education does for the stupid is to certify that they are indeed the morons that everyone knew they were.

 

[halsey02]

There is nothing wrong with inequality. It is the natural order of things.

If everyone was equal there would be no incentive to succeed in life.

You are right on this!..inequality drives us on, the hunger for success, outs the fire in the belly. But this is not the natural order, we are talking about.

 

[winnipegjets]

Education cannot cure stupidity. All an education does for the stupid is to certify that they are indeed the morons that everyone knew they were.

Education is not the panacea for gross inequality. The rich has the resources to ensure that their children get the best education. The middle income are stuck with neighbourhood schools with teachers who have little desire to do more than their mandate.

 

[winnipegjets]

Yeah just imagine if any GP could become a specialist with no extra effort. No exams no additional experience necessary.

Three things would happen:

1. There would be no more GPs.

2. Specialist earnings would drop to what GPs used to earn because when every doctor is a specialist there is no way they can charge a premium.

3. The really talented specialists would not bother anymore. Why strive for excellence when there is nothing to be gained.

It is a situation that will NEVER happen. That by the way is not the issue of inequality.

 

[winnipegjets]

Right-wingers don't seem to address the real issue of income inequality. They come out with comparisons that is so far fetch.

 

[ToaPehGong]

My multimillionaire Minister Ong should reassure Singaporeans that's medical care is cheap citing the Penang cow surgery. Then they enjoy their multimillionaire salaries song song gao jurong. Long live PAP, huat ahhhhhh.

 

[bobby]

Attaboy butch.....

 

[mojito]

Education cannot cure stupidity. All an education does for the stupid is to certify that they are indeed the morons that everyone knew they were.

Even doctors prescribe to the terminally ill. Morons no need? Like dat how to make money?

 

[laksaboy]

Of course, Ong Ye Kung is just an uncharismatic buffoon from pseudo-union CUNT NTUC, from which the PAP often picks a few people to bolster its ranks.

 

[eatshitndie]

where everyone is supposed to be equal.

 

[nayr69sg]

Dunning Kruger effect.