SCMP Columnist tells BG Lee to stop talking cock & learn economics 101

[Leongsam]

Trickle down economics is not unlike the prosperity gospel preached by Kong Hee, as this article will explain.

The Prosperity Gospel of Trickle Down Economics
http://freethoughtblogs.com/dispatches/2012/08/16/the-prosperity-gospel-of-trickle-down-economics/

While articles are a good source of information, the best way of learning what works and what does not is to experience things for yourself.

Those who don't believe in trickle down economics should spend time in the Bay area and in Seattle. They'll be able to witness first hand how the wealth of those who earn big money in Microsoft, Apple, Google, Facebook etc is distributed to the whole region.

I've been there and I've seen how it works. Open a Chinese restaurant within 20 miles of Apple Inc HQ and if you can make it a hit, you'll be a millionaire within 2 years. I guarantee it because I saw it happen with my own eyes with Chef Chu's. When I first arrived in CA as a greenhorn, it was a small takeaway. Look at it now.

http://www.mercurynews.com/food-win...nt-has-served-tech-elite-steve-jobs-los-altos

 

[po2wq]

... And it surprises me that he thinks his people need foreign input in order to find opportunities and open doors. I was not aware that they are so deficient in initiative as not to be able to do it themselves. ...

ze scmp writer obviously haven heard b4 dat ah loon considers all sinkies as retards n 4eign workers as talens ...

 

[soIsee]

The guys is talking through his arse. The honorable Mr Lee isn't asking billionaires just to park their billions. He wants them to become consumers.

Billionaires to become consumers in Sinkland?

The fucking Sinkland market share in everything is so small.What do billionaires need in Sinkland as if they cannot get ( in more quatity and quality) than elsewhere?

LHL must be thinking his fuck place is paradise for billionaires to spend and the billionaires are as daft as his Sinkie! LoL

 

[winnipegjets]

The guys is talking through his arse. The honorable Mr Lee isn't asking billionaires just to park their billions. He wants them to become consumers.

The economy grows more from the consumption of 100,000 people than that of 10 billionaires. That's a fact. Economics 099.

 

[winnipegjets]

While articles are a good source of information, the best way of learning what works and what does not is to experience things for yourself.

Those who don't believe in trickle down economics should spend time in the Bay area and in Seattle. They'll be able to witness first hand how the wealth of those who earn big money in Microsoft, Apple, Google, Facebook etc is distributed to the whole region.

I've been there and I've seen how it works. Open a Chinese restaurant within 20 miles of Apple Inc HQ and if you can make it a hit, you'll be a millionaire within 2 years. I guarantee it because I saw it happen with my own eyes with Chef Chu's. When I first arrived in CA as a greenhorn, it was a small takeaway. Look at it now.

http://www.mercurynews.com/food-win...nt-has-served-tech-elite-steve-jobs-los-altos

The economy is driven by consumption. Say if these super rich in silicon valley have their wealth halved and that wealth is in the hands of the working and middle class Americans, how much more growth - more Chef Chu - will there be?
Trickle down economics - aka Reagan's bs economics, voodoo economics, supply-side economics - don't work. If it does, we would be in this 5-year and longer economic doldrums. Where is the trickling?

 

[winnipegjets]

Billionaires who move to Singapore are like long term, big spending tourists. They pump the economy with their spending and create jobs as a result. Those SPGs he's with are probably squeezing as much out of him as they can before he moves on to the next SPG. He'll spend big to impress them and the economy gains as a result.

While it may be true that he moved to Singapore to avoid US taxes, it doesn't mean he gets away scott free. He still has to pay taxes in Singapore as long as he's a tax resident.

Money he earns outside sinkapore is tax free. What kind of investments has he put in sinkapore????

He spends money in sinkapore ...but he also pushes up the price of property ...sinkees have to pay more for housing. The trade-off for his spending is higher than the gains.

 

[escher]

Totally agree. When Pinky can't win with logic, he will win by screwing asses (read: file defamation lawsuits ONLY in Sinkieland, NOT HK)

Ah Loon can do even better.
He should quickly make himself Grand Field Marshallissimo, the highest military rank this side of the Galaxy.
Ah Loonie should also give himself LeeKuanYew Cross first class which is superior even to the Victoria Cross. With Oak leaves and swords and diamonds


And he must wear John Lennon suit and all sinkies generals will goose match in front of Ah Loonie the Grand Field Marshallissimo.

All ambassadors will have to kowtow to Pinkie

NO ONE WILL DARE TO SAY PINKY TALK COCK NO MORE

 

[ILovePAP]

I like that the PAP is made up of the country’s best and I trust them to do the best for my country. They have a proven track record and they made our country low crime, low corruption, if any at all, highly progressive and well, we are rich.

A lot of people dislike the PAP because Singapore is getting too cosmopolitan for them, with higher costs of living stressing people out. I personally do not believe in slowing down or reversing our progress to becoming one of the top cities in the world. We cannot return to a kampong state...

Yes it is stressful, yes it is tough – but we must progress WITH Singapore... Or get out. I believe that that is the attitude all Singaporeans should have. I like the Singapore that Singapore has become,and I wish for it to continue with PAP’s guidance.

 

[iamhere]

In reality, the nation have been providing welfare state benefits (juz because of one party rule system) to leeches aka papees leeching on the system. These leeches aka papees wasting nation's time and resources and etc every single second of the Mother Earth's day. By some unfortunate default, we as a nation have to put food on table and tonnes of $$$ for these leeches...


The country needs the government (employees of the public) to work for the country.
Can these leeches aka papees become self reliant? Get a job and be prepared to work hard
at least for once in a lifetime. Stop Leeching on the system.





FUCK PAP, FUCK PAP, FUCK PAP.........
MAY PAPEES, CRONIES N FAMILIES BURN ETERNALLY IN HELLS.........
MAJULLAH SINGAPURA.........
GOD BLESS SINGAPORE..............
REMEMBER to

VOTE papees OUT



do yrself, yr forefathers and yr generations to come, a favor, a service and a long-awaited justice

 

[winnipegjets]

I like that the PAP is made up of the country’s best and I trust them to do the best for my country. They have a proven track record and they made our country low crime, low corruption, if any at all, highly progressive and well, we are rich.

We are going downhill ...stop living in the past! 'Low crime' - sure or not? 'Low corruption' - legalized corruption counts? "Progressive" - ask the 50 percent of working folks who take home $1700 or less. "We are rich" - PAP folks ...not most sinkees.

A lot of people dislike the PAP because Singapore is getting too cosmopolitan for them, with higher costs of living stressing people out. I personally do not believe in slowing down or reversing our progress to becoming one of the top cities in the world. We cannot return to a kampong state...

Sinkees have no problems with being cosmopolitans. But PAP is selling out sinkees to the marauding foreigners. Sinkees no longer have a stake in the country. Foreigners are dictating our livelihood and how we should live, what we can eat, where we can go and sit.

Yes it is stressful, yes it is tough – but we must progress WITH Singapore... Or get out. I believe that that is the attitude all Singaporeans should have. I like the Singapore that Singapore has become,and I wish for it to continue with PAP’s guidance.

if the PAP government can arrange for the mass departure of sinkees to other pastures, we will take it. So, can the PAP government do it?

 

[batman1]

Pinky is NOT an economist.He majored in mathematics at Cambridge.

 

[winnipegjets]

Pinky is NOT an economist.He majored in mathematics at Cambridge.

That's why he wants more billionaires in sinkapore.

 

[eatshitndie]

I've been there and I've seen how it works. Open a Chinese restaurant within 20 miles of Apple Inc HQ and if you can make it a hit, you'll be a millionaire within 2 years. I guarantee it because I saw it happen with my own eyes with Chef Chu's. When I first arrived in CA as a greenhorn, it was a small takeaway.

chef chu's is very special to the bay area, mid-peninsula in particular. when i was there as a student, it was already there. 33 years later, it's still there, and successful as ever. it's located at the perfect spot, right on el camino and san antonio. most of the tech billionaires schooled, live and work nearby. it's the place where even presidents want to go whenever they pop by for political fund raising near the stanford/palo alto area. couples meet and get engaged there. some host wedding dinners. many have birthday parties there. all races treat it as the upper crust favorite chinese hangout. but dressing is informal, and every guest is treated with charm and care.

chef chu makes all the difference. he hangs around the bar talking to anybody who wishes to chat him up. when dinner gets started, he would go around talking to guests at every table. i asked for peking duck, and he came up to my table and recommended 3-kind duck: extra crispy duck skin with little fat for the usual peking dish, duck bones for soup, and leftover duck meat with sprouts and greens. all for the price of one. he even described in detail why he is nuts about removing the fat under the skin of the duck. that is the only chinese restaurant in the entire bay area that makes an effort removing duck fat. it's my pet peeve when it cums to fat in peking duck, and chef chu perfected the technique of removing it. i'd rather pay a bigger buck for a glück duck than a buck for a fucked up duck.

 

[watchman8]

While articles are a good source of information, the best way of learning what works and what does not is to experience things for yourself.

Those who don't believe in trickle down economics should spend time in the Bay area and in Seattle. They'll be able to witness first hand how the wealth of those who earn big money in Microsoft, Apple, Google, Facebook etc is distributed to the whole region.

I've been there and I've seen how it works. Open a Chinese restaurant within 20 miles of Apple Inc HQ and if you can make it a hit, you'll be a millionaire within 2 years. I guarantee it because I saw it happen with my own eyes with Chef Chu's. When I first arrived in CA as a greenhorn, it was a small takeaway. Look at it now.

http://www.mercurynews.com/food-win...nt-has-served-tech-elite-steve-jobs-los-altos

So long as food is good, anyone can make good money regardless of presence of big money. Just look at some of the Singapore hawkers making good money, their main clientele are middle class people.

I think the world has gone to the far extreme of trickle down effect, resulting in ever growing wealth gap. You look at the north European countries with steeper progressive taxes that closes the wealth gap. These societies are as productive and yet more harmonious.

Reaganomics to the extreme simply means that the lucky few get to waste their huge wealth on useless toys like super cars, big homes around the world, and expensive watches. This is a massive misallocation of resources.

 

[Poomer]

While articles are a good source of information, the best way of learning what works and what does not is to experience things for yourself.

Those who don't believe in trickle down economics should spend time in the Bay area and in Seattle. They'll be able to witness first hand how the wealth of those who earn big money in Microsoft, Apple, Google, Facebook etc is distributed to the whole region.

I've been there and I've seen how it works. Open a Chinese restaurant within 20 miles of Apple Inc HQ and if you can make it a hit, you'll be a millionaire within 2 years. I guarantee it because I saw it happen with my own eyes with Chef Chu's. When I first arrived in CA as a greenhorn, it was a small takeaway. Look at it now.

http://www.mercurynews.com/food-win...nt-has-served-tech-elite-steve-jobs-los-altos

Do you happen to see Microsoft, Apple, Google or Facebook opening their headquarters in Singapore? Anyway, look at Singapore, we have a shitload of millionaires, and we are looking at a widening income gap. That means the money is not trickling down to the masses.

 

[eatshitndie]

Do you happen to see Microsoft, Apple, Google or Facebook opening their headquarters in Singapore? Anyway, look at Singapore, we have a shitload of millionaires, and we are looking at a widening income gap. That means the money is not trickling down to the masses.

ultimately, money from wealth trickles down to the masses. it trickles like a person having sporadic urinary incontinence, not gushes like one having an orgasm. widening income gaps occur despite the wealthy giving millions away as charitable donations like gushing orgasms.

don't expect millionaires to spend half their wealth on coffee and kaya toast and or other daily essentials to narrow the income gap. much of the jobs created are indirectly attributed to investments by the wealthy on speculative greed and growth of their wealth. whether those jobs are paid handsomely well to bridge the income gap is a different matter altogether. most importantly, opportunities are created. it's up to opportunists and niche players to seize chances and moments of glory and riches.

 

[Leongsam]

Do you happen to see Microsoft, Apple, Google or Facebook opening their headquarters in Singapore? Anyway, look at Singapore, we have a shitload of millionaires, and we are looking at a widening income gap. That means the money is not trickling down to the masses.

There is nothing wrong with a wide income gap as it gives incentives for those at the bottom to strive to reach the top. Some will succeed and some won't. That's the natural order of things. It's how competition works within a species in order to ensure long term survival.

In countries where the income gap is narrow, those at the top will find it not worth their while trying to earn more while those at the bottom will simply sit pretty and adopt a laid back approach knowing that they can freeload their way through life without doing any decent work.

 

[Leongsam]

So long as food is good, anyone can make good money regardless of presence of big money. Just look at some of the Singapore hawkers making good money, their main clientele are middle class people.

The middle class don't just morph out of thin air. They work for the rich. No society has a bunch of middle class just working for each other.

I think the world has gone to the far extreme of trickle down effect, resulting in ever growing wealth gap. You look at the north European countries with steeper progressive taxes that closes the wealth gap. These societies are as productive and yet more harmonious.

The steeper progressive taxes do nothing to close the wealth gap in Europe. All they do is change the demographics so that the rich become residents of Monaco, Andorra, Switzerland, Channel Islands and so on. It also fuels the super yacht industry as it enables the super rich to spend chunks the year in international waters thus avoiding tax residency status in their homelands.

As for the Nordic states.. things are not as rosy as they seem. There's an excellent article at http://www.newstatesman.com/economics/2013/06/swedish-riots-what-really-happened

 

[winnipegjets]

The middle class don't just morph out of thin air. They work for the rich. No society has a bunch of middle class just working for each other.

They don't need to vote for the rich ...they could be working for themselves as shareholders or as members of a pension funds that own shares in the business.
The point is that excessive concentration of the wealth at the top hurts society at the social and economic level. That the global economy is still in doldrums after five years is telling us something. The disappearing middle class no longer can provide the consumption needed to boost growth and the rich are not spending enough to compensate. Business, in turn, are not investing because they see weak demand for the products. It all goes back to demand and who provides that demand? Not the filthy rich that you speak so highly of.

The steeper progressive taxes do nothing to close the wealth gap in Europe. All they do is change the demographics so that the rich become residents of Monaco, Andorra, Switzerland, Channel Islands and so on. It also fuels the super yacht industry as it enables the super rich to spend chunks the year in international waters thus avoiding tax residency status in their homelands.

The rich don't generate sufficient growth for the economy to compensate for the loss of consumption by the middle and working class. Europe is in current mess because they have followed the Anglo-American model of giving tax cuts to the rich and corporations, leaving the middle and working class to carry the tax burden.

As for the Nordic states.. things are not as rosy as they seem. There's an excellent article at http://www.newstatesman.com/economics/2013/06/swedish-riots-what-really-happened

But they are better off than the rest of the world. And it is less rosy because of right-wing policies. Lesson to be learnt - stick to progressive policies.
Many pointed to economics. Despite our rosy view of Sweden, over the past 20 years there have been huge changes made to "The Swedish Model", of which some of the most significant were enacted by the centre-right Alliance coalition since 2006, headed by current Prime Minister Fredrick Reinfeldt.

 

[winnipegjets]

There is nothing wrong with a wide income gap as it gives incentives for those at the bottom to strive to reach the top. Some will succeed and some won't. That's the natural order of things. It's how competition works within a species in order to ensure long term survival.

It is a problem when so much consumption power is in the hands of a few and they don't consume enough to create jobs!

In countries where the income gap is narrow, those at the top will find it not worth their while trying to earn more while those at the bottom will simply sit pretty and adopt a laid back approach knowing that they can freeload their way through life without doing any decent work.

Like everything in life, there is a balance to be struck. You don't see that big a problem in the Nordic countries. You can see everyone as lazy and evil in nature or you can think that people would like to make a difference in lives.