Halimah Yacob named Singapore's first Malay president

[sinait]

It's not about the powers. It's about the democratic process getting flouted last minute without consulting the people. And obviously most people are against the change.

The President used to be nominated by the government but Lee Kuan Yew purposely changed it to be independently elected by the people and gave the President the 'key' to our reserves. So any party, the PAP or the opposition, which forms the next government can't touch our reserves without an independently elected President's permission.

Actually that applies to the PAP too. Any newly-formed government starts with zero and it's basically impossible to get into a budget deficit because 1) You need the President's permission to dip into past savings, 2) It's against the constitution to borrow money to spend.

So you can only have budget surpluses.

This system is designed by LKY and is unique to Singapore. I think it's brilliant and is what separates Singapore's democracy from Western democracies. Otherwise we would end up like the West where political parties race to give out more freebies without raising taxes. We would be heavily in debt and pay much of our taxes on interest payments, or worse; borrowing money for interest payments.

Instead today, the investment returns (we can only use up to 50%) from our past reserves is contributing $14b passive income every year. This is higher than our corporate tax, income tax, or GST. Our GST will have to raise from 7% to 16% to make up for the $14b if we don't have the investment returns.

Its easy for you to say this is brilliant and that is good when you are not swept aside and penalised in a system with not much recourse, not that I am saying that is not for the good of the majority.
How many people are crippled and bankrupted for life from authority abuses in a system that had many things hidden from the public?
Where it is criminal to protest without a permit.
Or will they give you a permit to protest against the Government?
Singapore is prospering partly because of its fiscal policies, control of regional sea lanes and air space, but also because of its mainly Confucian and hard working Chinese population with East Asian culture. This is evident in that the other Asian tigers also prospered without a Lee Kuan Yew. Once our unrestricted immigration workers policy was stopped, look what happened to our GDP, not that I don't like it.
LKY is brilliant, but I respect financial wizard Dr Goh Keng Swee more, Father of Jurong Industrial Policy, who also went on to help China develop Shenzhen.
Dr Goh Keng Swee, former Deputy PM and one of the great if not the greatest, founding members of the ruling party, was regrettably not honored on his death.
Preferably you can msg me on my profile page on any further discourse.
.

 

[Nilgiri]

Preferably you can msg me on my profile page on any further discourse.

Actually can continue if you want to here. I am learning from this exchange.

 

[Jlaw]

Its easy for you to say this is brilliant and that is good when you are not swept aside and penalised in a system with not much recourse, not that I am saying that is not for the good of the majority.
How many people are crippled and bankrupted for life from authority abuses in a system that had many things hidden from the public?
Where it is criminal to protest without a permit.
Or will they give you a permit to protest against the Government?
Singapore is prospering partly because of its fiscal policies, control of regional sea lanes and air space, but also because of its mainly Confucian and hard working Chinese population with East Asian culture. This is evident in that the other Asian tigers also prospered without a Lee Kuan Yew. Once our unrestricted immigration workers policy was stopped, look what happened to our GDP, not that I don't like it.
LKY is brilliant, but I respect financial wizard Dr Goh Keng Swee more, Father of Jurong Industrial Policy, who also went on to help China develop Shenzhen.
Dr Goh Keng Swee, former Deputy PM and one of the great if not the greatest, founding members of the ruling party, was regrettably not honored on his death.
Preferably you can msg me on my profile page on any further discourse.
.

So will sgp eventually become a has been like her northern neighbor?

 

[sinait]

So will sgp eventually become a has been like her northern neighbor?

Nope, our hardworking and practical people plus our good relations with super economic power China, albeit with some differences sometimes, will pull us through.

Actually can continue if you want to here. I am learning from this exchange.

I don't feel good talking about unsavory things in Singapore that are usually much worse in other countries, knowing that we acquit ourselves comparatively very well in the world of things.
I bring up issues in the context that we want to strive for even better.
Full democracy is problematic even in the US, not to say Singapore.
.

 

[Mista]

Its easy for you to say this is brilliant and that is good when you are not swept aside and penalised in a system with not much recourse, not that I am saying that is not for the good of the majority.
How many people are crippled and bankrupted for life from authority abuses in a system that had many things hidden from the public?
Where it is criminal to protest without a permit.
Or will they give you a permit to protest against the Government?
Singapore is prospering partly because of its fiscal policies, control of regional sea lanes and air space, but also because of its mainly Confucian and hard working Chinese population with East Asian culture. This is evident in that the other Asian tigers also prospered without a Lee Kuan Yew. Once our unrestricted immigration workers policy was stopped, look what happened to our GDP, not that I don't like it.
LKY is brilliant, but I respect financial wizard Dr Goh Keng Swee more, Father of Jurong Industrial Policy, who also went on to help China develop Shenzhen.
Dr Goh Keng Swee, former Deputy PM and one of the great if not the greatest, founding members of the ruling party, was regrettably not honored on his death.
Preferably you can msg me on my profile page on any further discourse.
.

I'm talking about the fiscal system and the prevention of budget deficits, not about the democratic processes which I'm against too such as in this case.

 

[8888888888888]

Singapore is better off not trusting USA, Malaysia, Indonesia and Philippines trusted the USA during the cold war and they are stuck as poor countries. Singapore never trusted USA every since they tried to influence elections in Singapore. This may have been the reason why Singapore is rich today.

 

[Mista]

So will sgp eventually become a has been like her northern neighbor?

Who? Malaysia?

Singapore is better off not trusting USA, Malaysia, Indonesia and Philippines trusted the USA during the cold war and they are stuck as poor countries. Singapore never trusted USA every since they tried to influence elections in Singapore. This may have been the reason why Singapore is rich today.

Malaysia is not poor. The other 2 are still poor because of corruption and they did not get their domestic politics right.

 

[8888888888888]

But Malaysia is still a developing country?

 

[Mista]

But Malaysia is still a developing country?

Yes it is. The economy is still growing at a healthy 4%.

But her GDP per capita is already at the same levels as those 'developed' countries such as Portugal or Greece.

 

[8888888888888]

Yes it is. The economy is still growing at a healthy 4%.

But her GDP per capita is already at the same levels as those 'developed' countries such as Portugal or Greece.

But compare to Singapore it is poor, beside Greece and Portugal has bad economy due to the high Euro.

 

[Jlaw]

Yes it is. The economy is still growing at a healthy 4%.

But her GDP per capita is already at the same levels as those 'developed' countries such as Portugal or Greece.

Problem was Malaysia supposed to be the next Japan back in the 70s. Guess all the think tanks got it wrong.

 

[8888888888888]

Wonder what happen after the 70s that ruin Malaysian economy?

 

[8888888888888]

Why is this moved to central and South Asia ?

 

[sinait]

Why is this moved to central and South Asia ?

Somebody want to group Singapore with the South Asians.
Problem is South Asians don't accept us.
Else we would be inside the SAAR.
.

 

[Mista]

But compare to Singapore it is poor, beside Greece and Portugal has bad economy due to the high Euro.

Shouldn't be compared to Singapore.

Greece and Portugal although their economy is weak now, they are still developed countries.

Problem was Malaysia supposed to be the next Japan back in the 70s. Guess all the think tanks got it wrong.

Japan is the 3rd largest economy in the world. Those that think Malaysia will become the next Japan just doesn't have a sense of proportion.

Wonder what happen after the 70s that ruin Malaysian economy?

How is their economy ruined? Just because they grew slower than the 4 Asian Tigers doesn't mean they are doing badly.