PAP's Bubble Backfires

[Loofydralb]

The practise of creating a bubble just before an election has been a common phenomenon in Singapore's politics.

Its an old PAP trick of giving its citizens a sense of inflating wealth and thus a 'feel-good' factor before and during elections, which in the past has helped PAP win elections resoundingly.

But the latest attempt by the party to invoke this exercise this time round has been met with condemnation, ridicule and allegations of irresponsible governing by its own citizens. They cite how the recent financial crisis in the US was triggered by loosely giving out credit, thus inflating and led to a property buying frenzy that was proven unsustainable.

HDB and the Ministry of National Development is well known to be manipulating the ups and downs of public housing by employing a slew of mechanisms and statutory tools which eventually affects the whole housing markets. Examples of the ways they are used are regulated valuations/valuers, tightening or loosening of credit, ramping up/down the building of public housing and/or releasing of land parcels, changing the rules of leases and rentals, etc.

The internet has been especially busy recently and the electorate has wisened up to the false appearance of increasing wealth. Most owner has realised that by selling at higher prices, they ultimately has to buy higher too because they have to have a place stay. And being pragmatic, Singaporeans realised that in doing so, public housing is begginning to get out of reach for their children, the younger generation that are just about to embark on their life's journey. A four-room flat is the standard housing size for a newly married couple with a combined income of about $2500. But prices upwards of $300,000 will saddle them with a lifetime of debt, just will not cut it anymore. Well known for being 'kiasu' or translated 'afraid of losing out' Singaporeans cannot be said to be unjust as the see the inequality imposed on the younger generation.

Sensible letters appealing to the Minister Mah Bow Tan to prevent a bubble has been replied by a civil servant, instead of the minister himself, to basically state that no such thing is happening. In Singapore, Mnisters do not go on record but instructs their subordinates in the Ministry to reply instead so that any future fallout will not be traced back to them.

Alas it appears this election trick is not working and instead of gaining votes, PAP will lose them by employing and risking its citizens well-being, creating a housing bubble.

 

[jw5]

The worst thing is that they almost always fall for it.

 

[Perspective]

The worst thing is that they almost always fall for it.

I agree with the phenomenon and it is PAP-created, but don't think the PAP is able to engineer it for elections.

 

[vincenttan]

PAP creates "a sense of inflating wealth and 'feel-good' factor" so that they don't have to give voters another round of Growth Bonus or rebates.

 

[scroobal]

Don't know how you came to this conclusion.

Actually its the opposite that the PAP prefers - fear mongering. If you look at the previous elections, the line has always been that that without the PAP, the country will collapse. In 1991, the opposition went in with the By-Elections Strategy to placate the fears of the voters and thus overcoming the fear tactics of the PAP that a solid govt will fall. It worked and oppsotion walked away with 4 seats.

They have never engineered anything special for the elections because they have such a strong control over the press and onerous electoral mechanism and gerrymandering gives them significant advantage.

They have gone for GE when the property market was at an all time low.

You got to start reading up on Singapore more. Its basically called maternal politics which old man is master of. He still continues to suckle singaporeans, 66% of whom are still attached to the PAP teats.

The practise of creating a bubble just before an election has been a common phenomenon in Singapore's politics.

Its an old PAP trick of giving its citizens a sense of inflating wealth and thus a 'feel-good' factor before and during elections, which in the past has helped PAP win elections resoundingly.

 

[Loofydralb]

Don't know how you came to this conclusion.

Actually its the opposite that the PAP prefers - fear mongering. If you look at the previous elections, the line has always been that that without the PAP, the country will collapse. In 1991, the opposition went in with the By-Elections Strategy to placate the fears of the voters and thus overcoming the fear tactics of the PAP that a solid govt will fall. It worked and oppsotion walked away with 4 seats.

They have never engineered anything special for the elections because they have such a strong control over the press and onerous electoral mechanism and gerrymandering gives them significant advantage.

They have gone for GE when the property market was at an all time low.

You got to start reading up on Singapore more. Its basically called maternal politics which old man is master of. He still continues to suckle singaporeans, 66% of whom are still attached to the PAP teats.

I have to disagree with you on this one.

When elections are near, PAP machinery goes on auto mode independently and its functions go on overdrive identifying areas that psychologically affect decision making among the population.

One of the most recent ones I can point out is the COE debacle. Its almost similar to the present housing bubble. Before the previous election, many households were griping on the high cost of COEs which makes it out of reach of many families. PAP had an open policy of declaring 3% vehicle population growth then. But upon rumblings from the ground that basically says "We the citizens (>70%) don't even get to drive in our own country when the govt keeps harping on how much we have progressed...its a farce", PAP threw out the 3% cap and released copiuos amount of COEs to satiate the demand, generate feel-good(having a car in the family does make you feel good....make you feel you've gone somewhere in life) and obviously help a great deal in the elections.

But citizens were warning the govt then that by releasing too much will cause terrible congestion (bubble...remember?) but as usual the minister swept all concerns aside. And now all of us suffer for it in the mornings and evenings at traffic.

Many more examples abound only if we only make the effort to remember and catalogue them in our minds. And you reminder to read more is timely. Citizens should dig up old news to relearn the mistakes they've heaped upon us.

 

[scroobal]

Nothing to do with Elections. Never figured in elections. Never mentioned by the opposition or the PAP during the last elections. People were well aware of ERP screwing us. In fact I never heard a single word about coe or cars mentioned during 2006 GE. Did you ? I also don't think the voting public will vote PAP for lower COE. I am not even sure the COE was dropped prior to 2006 GE.

PAP only went into pork barrel politics for Potong Pasir and Hougang with PP being offered the most - lift, block upgrading, millions of dollars in promises, none of which was delivered. It was targeted as they desperate.

You want to pick another example.

I have to disagree with you on this one.

When elections are near, PAP machinery goes on auto mode independently and its functions go on overdrive identifying areas that psychologically affect decision making among the population.

One of the most recent ones I can point out is the COE debacle. Its almost similar to the present housing bubble. Before the previous election, many households were griping on the high cost of COEs which makes it out of reach of many families. PAP had an open policy of declaring 3% vehicle population growth then. But upon rumblings from the ground that basically says "We the citizens (>70%) don't even get to drive in our own country when the govt keeps harping on how much we have progressed...its a farce", PAP threw out the 3% cap and released copiuos amount of COEs to satiate the demand, generate feel-good(having a car in the family does make you feel good....make you feel you've gone somewhere in life) and obviously help a great deal in the elections.

But citizens were warning the govt then that by releasing too much will cause terrible congestion (bubble...remember?) but as usual the minister swept all concerns aside. And now all of us suffer for it in the mornings and evenings at traffic.

Many more examples abound only if we only make the effort to remember and catalogue them in our minds. And you reminder to read more is timely. Citizens should dig up old news to relearn the mistakes they've heaped upon us.

 

[bigbossman]

inflating wealth

How much wealth is there from a few election goodies?

 

[besotted]

I have to disagree with you on this one.

When elections are near, PAP machinery goes on auto mode independently and its functions go on overdrive identifying areas that psychologically affect decision making among the population.

One of the most recent ones I can point out is the COE debacle. Its almost similar to the present housing bubble. Before the previous election, many households were griping on the high cost of COEs which makes it out of reach of many families. PAP had an open policy of declaring 3% vehicle population growth then. But upon rumblings from the ground that basically says "We the citizens (>70%) don't even get to drive in our own country when the govt keeps harping on how much we have progressed...its a farce", PAP threw out the 3% cap and released copiuos amount of COEs to satiate the demand, generate feel-good(having a car in the family does make you feel good....make you feel you've gone somewhere in life) and obviously help a great deal in the elections.

But citizens were warning the govt then that by releasing too much will cause terrible congestion (bubble...remember?) but as usual the minister swept all concerns aside. And now all of us suffer for it in the mornings and evenings at traffic.

Many more examples abound only if we only make the effort to remember and catalogue them in our minds. And you reminder to read more is timely. Citizens should dig up old news to relearn the mistakes they've heaped upon us.

Singaporeans' attachment to cars is astounding. Many people who cannot afford cars get sucked into no-money down and work like slaves to pay off the loan plus all the other charges

I think there should be a minimum of $100,000 for each COE to put an end to all the clogging of roads. The money collected should be used to subsidise or improve public transport

 

[ahleebabasingaporethief]

It's mis-firing BIG TIME!!
​

 

[SamuelStalin]

Singaporeans' attachment to cars is astounding. Many people who cannot afford cars get sucked into no-money down and work like slaves to pay off the loan plus all the other charges

I think there should be a minimum of $100,000 for each COE to put an end to all the clogging of roads. The money collected should be used to subsidise or improve public transport

Actually there should also be a genocide on the total population regardless of race. It should be 1 - 2 million so the problem of overpopulation would end and the potential for future growth would be greater.

 

[scroobal]

Give you the background to the policy change on COE cost. The rumblings came from PAP cadres. The concession was given to cadres but the budget was cost neutral as they introduced ERP. To the cadres, it meant, buying cars and driving around their HDB estate for grassrrots events but not going into a city where ERPs were activated. Most of them are retirees. Unforturnately you can't confine it to cadres. So now after successfulling managing car population for decades we have jams.

Thats the reason why it was not made public why the policy was changed or something that Singaporeans desired. It was only revealed by Goh Chok Tong in an off the cuff manner that LHL made that decision.

Before the previous election, many households were griping on the high cost of COEs which makes it out of reach of many families. PAP had an open policy of declaring 3% vehicle population growth then. But upon rumblings from the ground that basically says "We the citizens (>70%) don't even get to drive in our own country when the govt keeps harping on how much we have progressed...its a farce", PAP threw out the 3% cap and released copiuos amount of COEs to satiate the demand, .

 

[scroobal]

You can the same for houses. Pointless being a leading developing nation and not able to acquire some toys. The same logic was used for the peasants by the communist countries for deceades.

Rich parents can ferry their kids from tuition to development classes, go for driving holidays to Malaysia, do late night supper etc.

You must learn to grow a mind of your own and not listen to the PAP for evrything.

Singaporeans' attachment to cars is astounding. Many people who cannot afford cars get sucked into no-money down and work like slaves to pay off the loan plus all the other charges

I think there should be a minimum of $100,000 for each COE to put an end to all the clogging of roads. The money collected should be used to subsidise or improve public transport

 

[Loofydralb]

It is the practise of tweaking policies to influence election results that is detrimental to Singapore's and Singaporean's well being in the long term.

But for sure that is not LKY's style. He has time and again framed policies for long term good. Its only the members of his party that have short term interests.

I would in the near future see a frenzy of block sprucing and paintings, less traffic summonses and more propaganda in the media for the coming GE.

 

[Cestbon]

Property bubble mainly due to PR buying resale HDB market. And many high pay FT buying private condo. Without these 2 market property price will remain as 5 years ago.

 

[ahbengsong]

sinkees are just too dumb to see thro anything... even without a smoke screen...

 

[scroobal]

Yes, that indeed happens. You should see AMK GRC before 2006 GE. Spotless.

I would in the near future see a frenzy of block sprucing and paintings, less traffic summonses and more propaganda in the media for the coming GE.