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LoginDespot's warning is 10 months late!!!!
16 posts
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Slowdown could stretch to 2009; Singaporeans should be prepared, says PM LeeLoh Chee Kong
cheekong@mediacorp.com.sgIT WAS, by all accounts, a stellar first quarter economic performance by Singapore β job creation was at a high while flash growth estimates of 7.2 per cent beat expectations..However, rather than set the stage for another year of expansion, the Prime Minister yesterday delivered the Government's most bearish outlook thus far..Despite the "good" first quarter expansion, Mr Lee Hsien Loong did not once hint at exceeding the full-year growth forecast of 4 to 6 per cent. Instead, he warned Singaporeans to "prepare ourselves" for a slowdown that "may last until next year"..from http://www.todayonline.com/articles/251565.asp
Why 10 months late?
July 2007
BTW you people know that the market crashed today? [page: 1, 2, 3,... 25, 26, 27]
November 2007
Looks like its getting really serious.... [page: 1, 2, 3,... 42, 43, 44]
Jan 2008
It no longer just Looks like its getting really serious..... [page: 1, 2, 3,... 13, 14, 15]This is what happens when the country lacks a free press so that despots can dishonorably cling on to power.... only when it is staring you in the face and they cannot hide it, they tell you....
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All the warnings that thinking people give regarding the lack of opposition ( as a result of the lack of press freedom, persecution of opposition candidates (other than a few, for show) and the oppressive environment generally) resulting in the decline of the country will be ignored until it is staring everyone in the face...
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Raising wages to address rising costs not a right solution
Mmm.... let me see.
Transport Company A rise the wage of all their Workers by $100, in hope of addressing rising cost. But lets be honest here.... DO YOU THINK that Transport Company A won't rise their fares inorder to 're-coup' their staffs higher pay
So now everyone Beside those from
Transport Company A will pay more for transportion around
S'pore.......Food Stall B employ 10 workers..... who takes Transport Company A's Buses/Trains/Cab to work. Since Transport Company A rise their fares..... Food Stall B also rise the Wages of their workers by $100. And like Transport Company A, rise the price of their food. So now everyone Beside those from Food Stall B, food prices goes up for all.
Service Provider C employ 1000 workers who take transport from A and eat at B. So their Boss being the 'kind' person that he is..... rise their pay by $100.... then do the same thing like A & B.
Ok..... so now -
Staff from A gots $100 - But pay more for B & C
Staff from B gots $100 - But pay more for A & C
Staff from C gots $100 - But pay more for A & B
Hi.... we are back to square one..... Lets rise Wages again lor....
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Originally posted by hloc:
Mmm.... let me see.
Transport Company A rise the wage of all their Workers by $100, in hope of addressing rising cost. But lets be honest here.... DO YOU THINK that Transport Company A won't rise their fares inorder to 're-coup' their staffs higher pay
So now everyone Beside those from
Transport Company A will pay more for transportion around
S'pore.......Food Stall B employ 10 workers..... who takes Transport Company A's Buses/Trains/Cab to work. Since Transport Company A rise their fares..... Food Stall B also rise the Wages of their workers by $100. And like Transport Company A, rise the price of their food. So now everyone Beside those from Food Stall B, food prices goes up for all.
Service Provider C employ 1000 workers who take transport from A and eat at B. So their Boss being the 'kind' person that he is..... rise their pay by $100.... then do the same thing like A & B.
Ok..... so now -
Staff from A gots $100 - But pay more for B & C
Staff from B gots $100 - But pay more for A & C
Staff from C gots $100 - But pay more for A & B
Hi.... we are back to square one..... Lets rise Wages again lor....
Staff D How?
The way is to curb inflation, or at least control it, there are things the govnt can do...
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Originally posted by whiskers:
Staff D How?
The way is to curb inflation, or at least control it, there are things the govnt can do...
Totally agree.....
But I'm talkin about trying to solve the problem with rising of Wages..... in the long run, won't solve a thing. And when, lets said..... 2-3 years down the road and prices of food & oil has fallen (unlikely)..... would the worker now agree to 'cut' pay by $100 since everything is now back to normal
The answer would likely be - NO - then cost of doing business in S'pore will be too high for small family run businesses.... while MIC would likely head to cheaper area of SE Asia to setup factory....
S'pore would likely end up with more retrenchment from factory closing down..... and small businesses will also find it harder to stay afloat.
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Infact I agreed with u on the fact that raising wages is not a viable option.... What i was pointing out was, when wages are raised, they are not raised across the spectrum of workers, some workers might not get a raise. And to them this is double whammy.
So this is one more reason raising wages might nt be a good idea...
P/S Whoever say our ministers lack foresight?
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Originally posted by whiskers:
Infact I agreed with u on the fact that raising wages is not a viable option.... What i was pointing out was, when wages are raised, they are not raised across the spectrum of workers, some workers might not get a raise. And to them this is double whammy.
So this is one more reason raising wages might nt be a good idea...
P/S Whoever say our ministers lack foresight?
Only if you could get S'poreans to see it......
Btw.... this is more of a common sense thing than any real 'foresight'.....
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Slowdown could stretch to 2009; Singaporeans should be prepared, says PM Lee
02 May 2008Loh Chee Kong
cheekong@mediacorp.com.sgIT WAS, by all accounts, a stellar first quarter economic performance by Singapore β job creation was at a high while flash growth estimates of 7.2 per cent beat expectations..However, rather than set the stage for another year of expansion, the Prime Minister yesterday delivered the Government's most bearish outlook thus far.14 July 2008
Lee Kuan Yew on Friday said Singapore's economy will be fine despite the slowing global economy.
Speaking at a dialogue session at an essay competition awards presentation ceremony, Lee said, "Next five to 10 years will be the most promising years for Singapore...
Believe the baby or the senile despot?
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