Chitchat Future bodes ill for Singapore (next 20 years painful to watch)

[Sammyboy RSS Feed]

An honorable member of the Coffee Shop Has Just Posted the Following:

Quote:
Originally Posted by aurvandil
For those of us watching and recording the long game, this is event is one of the more important milestones. It changes nothing with regard to the narrative of Singapore's decline. The next 20 years will be painful to watch.


The PAP has essentially milked the country dry. The 2016 US election allowed us to put a label on it. It's called "neoliberalism". Immigration is a cornerstone of neoliberalism. That's what the PAP has been doing for the past 20 years - using immigration to inflate the economy, asset prices, etc. That trend is obviously unsustainable. You don't need a college degree to know that.

So what is the PAP going to do after their immigration tactic runs its natural course? They have no ideas. For that matter, I don't as well. The PAP has run the country to the ground and all the economic opportunities that once existed for the younger generation have either been consumed by the GLCs or simply destroyed through attrition. High asset prices paint a rosy picture that the country is doing fine. We know its not. Wages for the lower and middle have been stagnant and will remain so. Rising asset prices and continual CPF payouts also requires a continuous supply of contributors and buyers, much like in a Ponzi scheme.

Eventually the PAP will be forced to dig into the reserves, and then print money.


Click here to view the whole thread at www.sammyboy.com.