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<yawn>!!! so the singaporean economy is not so exciting after all

A good piece of analysis is out on the James Gomez site about the workings of the Singaporean economy. Reading it, it really feels like the singaporean economy has nothing much exciting about it. Its final conclusion, really, is that Singaporean spending is not central to the Singapore economy. What do u think?

Some pointers made which i feel extremely comical, and i quote: (emphasis mine, comments in square '[ ]' brackets mine)
Writing about Singapore’s economic outlook is boring. It’s not that there is nothing to say, it’s that there is nothing to say about Singapore itself. A pertinent discussion of Singapore’s near term prospects for the first half of 2005 has to start with the effects of the tsunami. This then would [1] segue over to the actions of America’s Federal Reserve Bank, [2] which in turn would be followed by a pithy, yet substantive, look at the global electronics cycle.

In 2001, the Ministry of Trade and Industry published a paper that looked at the four primary, long term drivers of Singapore’s economy. The number one influence was growth in the United States. Number two? Growth in the economies of Indonesia and Malaysia. Third was global semiconductor sales. And rounding out the top four was domestic construction [which even now, has slowed down dramatically. Where does that leave the average Singaporean then???]

But wait, you might say, what about Singaporeans’ love of shopping? Certainly that has to count for something? You’re right it does. The problem is that Singaporeans' love of shopping is usually done someplace other than Singapore. The fastest growing component of private consumption over the past decade or so has been Resident Expenditure Abroad.

So... what would u do, if u were the local government, - and u wanted to stop the cash from flowing out? Mandate by law a "spend all ur money inside, - instead of outside" rule??? that wouldnt work. All ur citizens would rebel against u. (*actually, only those who have the cash, time, energy, and opportunity, to take time out from this mad incessant Rat Race to get out of Singapore and spend some cash elsewhere). And then we'd have another boom in the construction industry again - cos we need to build LOTS more jail cells to house all these errant peasants, and send them for some "re-education." Go ahead and take all the good years of an honest man's life if that's what u need. [**TAKE NOTE my fellow Singaporeans!!! (my million-$ gohl-den mouth will always be with u) DO NOT ALL REBEL ALTOGETHER!!! This will create a tremendous *HUGE*, *BIG*, *BOOM* in the construction industry that might threaten to bring in lots more foreign talent into the country in order to fuel the necessary industries (no, - Singaporean graduates are *not* good enough; that rule does not apply for Singaporean MPs, political parties, and ruling party membership though)!!! .... !!!! Take note construction industry folks - encourage this process]

So again - what would u do? (no, not 'WWJD'. Maybe 'WWLKYD' in this case would be a bit more appropriate). Perhaps it might be a little helpful if we ensure that the little peasants do not have too much disposable cash in their hands? Perhaps by raising the prices of their basic necessities SOO HIGH, that they are effectively chained down? Like SEX, DRUGS, and... blue bicycle pants? Some of the latest Sg_Review postings have more details on this - with flashy titles too! "The Great HDB Scam", "The Great COE Scam"...

Big bad news, about big, bad wolfs (in WHITE Sheeps' clothing) is not unconmen in this country, my man. It's times like these i regret not having become a lawyer, so that i can make lots of money by helping other conmen sue honest people and make them bankrupt. [*Note: lawyers have other uses as well, - and of course, not all lawyers are corrupt].

But i digress. I think i have talked too much about my favourite subject, Money. It is not fit for such a lowly peasant as i to dream of big stuff like money. As it is, all citizens are equal, - but some are just more equal than others. I shall know my place and refrain from talking anymore now. Suffice it to say that if u want more interesting observations... (- and telling ones at that, too), feel free to consult the original article.

2 HaHaas:

Blogger KnightofPentacles HaHaa-ed:

From our position in life as serfs at the bottom of the Singapore caste system, what would then be a rational response?

Sunday, January 23, 2005 2:33:00 AM  
Blogger Jeff! Lim HaHaa-ed:

i dont know, man, - but i think usually the first decision has to be made at the "Stay or Quit" level ("the Big Boolean"). And then after that, the nitty gritties.

I'm not so sure what a rational response is, really. After all, that which saves u in the short term (selfish, self preservation) WILL (yes, in this case, very much so - like being cooked and eaten alive) only kill u in the long term - that is, if u choose, or worse, have to, stay only. It's like in that puzzle mentioned by Kelvin (of "Singapore vs Matrix" fame; http://www.geocities.com/kelvintan73/articles/matrix.htm) - "The Prisoner's Dilemma" - only on a much larger scale. I cant find Kelvin's original article anymore (his "articles" list seems to have been taken off), so i enclose another link here (found through google) - http://www.geocities.com/Heartland/5099/sd/pd-brf.html

Sunday, January 23, 2005 3:07:00 AM  

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