Wallace Stevens, as well as being America’s greatest 20th-century poet, was also a career professional in the insurance industry, rising to become a vice-president of the Hartford Accident and Indemnity Company. He knew a lot about the world of business, and was well qualified to make his famous observation that “money is a kind of poetry”.
The biggest problem in Singapore is the Government thru GIC and TH is not investing enough in human capital and business that generates high revenue thru productivity, innovations and technology. They have dumped billions with no results in sight. Maybe they should reconsider their strategies instead of chasing after GDP growth at all costs. Their quick fixes has caused more problems and there should be reforms and policy changes.
Instead of trying to squeeze money from Singapore’s economy, they should invest to generate growth and income thru innovations and technology, and when they realised their investments, others will follow. There is a potential ROI of 40% if you search hard enough, and a balanced and sustained strategy to privatisation is a better bet than trying to squeeze money from meagre resources that cannot even meet yor needs. If you play your cards right, risks can be properly managed with high income rather than the mass influx of FTs that will cause more losses than income, bringing problems that Singapore cannot solve. You chose, you want the goose that lay the golden egg or the golden egg? One will ensure your future income forever and the other will give you a meal for a day. If you continue to milk your golden goose without feeding it, one day it will die, and crying over spilled milk will not help you at all.
“The captain of the ship is steering towards a whirlpool, if he doesn’t reverses his course, Singapore will surely drown.”
“The outflows is more than the inflows, by squeezing the Singapore Economy and not putting anything back, where your foreign investments doesn’t generate returns, it is a path of no return.”
“There is fundamentally no way you can solve Singapore’s economic problems unless you solve this problem.”
– Contributed by Oogle.