Ladies and Gentlemen,
Singapore one party state's newspaper agency propaganda sheet Straits Times of October 10, 2016 has the report "Government stands ready to act in the event of an economic downturn: Lim Hng Khiang". See report here http://www.straitstimes.com/singapore/government-stands-ready-to-act-in-the-event-of-an-economic-downturn-lim-hng-kiang
How very gallant of him. Like a knight in shining armor, this man Lim Hng Khiang, Minister for Trade an Industry has offered to come to the rescue of all Singaporeans in distress and save them from certain economic calamity. How very reassuring. Thanks again. But isn't it rather silly to say this, not to mention condescending.
As you already know, this statement by him is made under the present dire circumstances where Singapore is facing an total economic collapse. Trade down, business down, unemployment up, shipping down. In fact everything is down and the island's economy is now in a freefall.
But his statement is so silly if you thought about it. If in fact he can do anything about it, why isn't he doing it right now, when things are already bad, instead of telling us that he will act only if there is an economic downturn? In other words he is determined to let the island go to the dogs but will intervene only if matters get even worse than that! Does he not realize that matters are already bad enough? That it has hit rock bottom and it can't get any worse!
And if he has any tricks in his hat, why doesn't he say what they are now. And what is more important, why doesn't do anything now. In his statement, he does not mention anything about how he is going to save us.
You don't have to be a crack economist to know that neither he nor anyone in his totalitarian government has any answers. You have an island principally run through centralized state planning and where its poor citizens are told not to think but just obey so that the rulers can continue to be corrupt to the tune of millions. They have chosen sectors like shipping, oil refining, oil storage, tourism, money laundering, biotech industry and so on. Unfortunately in every single sector the rest of the world have outpaced the island. The Chinese communists are no longer coming to the island to squander their ill gotten gains stolen through Peoples Liberation Army connections, the oil industry is dead, tourism is dead and the hotels are empty. In these circumstances, it is not enough for this man to wave a magic wand to make things right.
We should tell Mr. Lim Hng Khing that we are not 10 year old babies and thanks but no thanks.
Only in Singapore where you have a totally helpless society will anyone such as this man Lim Hng Khiang have the nerve to utter such nonsense.
Attorney at Law
Fremont (San Francisco) USA
Tel: 510 491 8525