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Singapore started going downhill after lee kuan yew left office?

Discussion in 'The Courtyard Café' started by makapaaa, Apr 1, 2015.

  1. makapaaa

    makapaaa Alfrescian (Inf)

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    http://therealsingapore.com/content/singapore-started-going-downhill-after-lee-kuan-yew-left-office

    SINGAPORE STARTED GOING DOWNHILL AFTER LEE KUAN YEW LEFT OFFICE?




    Post date:
    1 Apr 2015 - 12:18pm


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    <Pic Credit: Wikipedia>
    After writing “A tribute to Lee Kuan Yew: What next for Singapore?” (Mar 23), I did some research and found statistics to indicate that the key policies that were implemented during the late Mr Lee Kuan Yew’s tenure as Prime Minister – starting going downhill about a decade after he stepped down as Prime Minister in 1990.
    No. of HDB flats
    For example, whilst the total number of HDB flats grew by 201,755 or 25,219 per year, in the eight years from 661,163 in 1994 to 862,918 in 2002 – it only grew by 21,438 or 3,063 per year, in the seven years from 868,774 in 2003 to 890,212 in 2010.
    In other words, the average increase in flats per annum declined by a whopping 88 per cent (3,063 divided by 25,219).
    Huge population increase
    During this seven-year period when very few HDB flats were built – the huge influx of foreigners increased the population by a whopping 961,906 or 23 per cent, from 4.1 million to 5.1 million, from 2003 to 2010.
    HDB prices
    With this huge increase in the population – the HDB Resale Price Index increased a whopping 66 per cent or 7.5 per cent per annum during the same period from 75.1 in 2003 to 124.4 in 2010.
    CPF interest rates
    CPF interest rates which were at 6.5 per cent from 1974 to 1985, started to decline more or less, gradually from 1986 to hit the current rock bottom of 2.5 per cent on the Ordinary Account since 1999 to today.
    CPF Minimum Sum
    When the CPF Minimum Sum scheme was implemented in 1987 – it was only $30,000. However, it was only raised to $40,000 in 1995, and has grown astronomically to $161,000 by July 2015.
    Medisave
    When the Medisave scheme first started in 1984, members who withdrew their savings at age 55 were required to set aside the Medisave Minimum Sum of $5,000 or the actual Medisave Account balance, whichever was lower.










    However, it too grew astronomically to what is now the Basic Healthcare Sum (BHS) of $49,800 by January next year – to replace the previous Medisave Minimum Sum of $43,500.
    The BHS “will also be fixed for each cohort when they turn 65 – even though it will continue to increase over the years for younger people”.
    The Medisave contribution rate has also increased from six to as much as 10.5 per cent now.
    Downhill after Mr Lee Kuan Yew?
    So, you can see from the above statistics and analysis that arguably, things started going downhill about a decade after Mr Lee Kuan Yew stepped down as Prime Minister – from the cheapest public housing to the most expensive in the world, from 6.5 per cent CPF interest to 2.5 per cent (the lowest real return amongst national pension schemes in the world since 1999), huge influx of foreigners, hardly any real increase in wages, etc.
    We should relook the “great” policies like HDB and CPF implemented during his tenure – in the context of how they may have convoluted to become the key problems that Singaporeans have today?

    Win battles lose war
    TRS Contributor
     
  2. Leongsam

    Leongsam Administrator Staff Member Old Timer Old Timer

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    On the contrary Singapore rose to far greater heights after LKY left office.

    GDP has grown from USD50 billion to USD300 billion since 1991.

    In the last decade since LHL took office, it has more than tripled.

    Kudos to GCT and LHL for doing such a fantastic job.
     

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  3. greedy and cunning

    greedy and cunning Alfrescian Old Timer

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    Economists traditionally use Gross Domestic Product (GDP) to measure economic progress. If GDP is rising, the economy is good and the nation is moving forward. If GDP is falling, the economy is in trouble and the nation is losing ground. From a strictly numerical perspective, GDP provides an easy-to-follow indicator of economic health. From the perspective of a citizen living with the day-to-day realities of life, GDP can be rather misleading.

    This is why the Genuine Progress Indicator (GPI) was created in 1995 by a socially responsible think tank called Redefining Progress. It was developed as an alternative to the traditional GDP measure of a nation's economic and social health. Read on to find out what GDP fails to reveal about a country's economic prosperity and how the genuine progress indicator works to make up this gap.

    those interested goto : http://www.investopedia.com/articles/economics/08/genuine-progress-indicator-gpi.asp
    this one better , present you the pro and con : http://www.debate.org/opinions/is-gdp-growth-a-good-indicator-of-improving-quality-of-life

    don't forget another important indicator : debt to GDP ratio , but I don't know whatthatis leh
     
  4. chootchiew

    chootchiew Alfrescian (Inf)

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    the GDP grew at the expense of the lives of sinkies , is this considered uphill or downhill ?:cool: :confused::rolleyes:
     
  5. JohnTan

    JohnTan Alfrescian (InfP) Old Timer

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    What bullshit! When GDP grows, the bulk of sinkies benefit.

    Look at the shopping malls. It's hard to find a seat in any decent restaurant during dinner time in the shopping mall. That's how good GDP has benefitted majority of sinkies! Even these aunties agree! See how grateful they are to Ah Gong?

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  6. Gomez

    Gomez Alfrescian Old Timer

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    MILF in black kooning ! :D
     
  7. winnipegjets

    winnipegjets Alfrescian (Inf)

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    Learning economics from Straits Times doesn't make you an economist. GDP growth means nothing if the bulk of the wealth is held by the top 10 percent.

    Of course can't find seats lah. We don't have enough seats for a population of 5.4 million. Pee Sai was built for 3 million sinkees.
     
  8. Bolocks

    Bolocks Alfrescian (Inf)

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    Bolocks

    This should be the thread title

    Singapore will downhill after lee kuan yew left office
     
  9. Asylum

    Asylum Alfrescian Old Timer

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    Should be will go downhill
     
  10. kryonlight

    kryonlight Alfrescian (Inf)

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    What goes up fast must also come down fast. There is no free lunch.
     
  11. Merl Haggard

    Merl Haggard Alfrescian (Inf)

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    [​IMG]



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    Organized mourning!
     
  12. johnny333

    johnny333 Alfrescian (Inf)

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    You will of course see packed restaurants during lunchtime because everyone has to eat right:confused: But have you noticed the turnover of restaurants?

    When I was visiting the Orchard Rd area I lost my appetite when saw the prices:( I had the option to go elsewhere because I was only shopping. Those who work in that area have little choice but to eat there.

    When you look at the retail sector you will see that many of the shops are struggling. I was at Sim Lim Square recently & the top floor is like a ghost town. There were quite a few vacant stores on the ground floor.
     
  13. LionJah

    LionJah Alfrescian Old Timer

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    LKY nuh match up and stand up to the most high king of kings lord of lords the conquering lion of judah haille selassie jah rastafari

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  14. GoldenDragon

    GoldenDragon Alfrescian (Inf)

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    No worries. Harry will look after S'pore from wherever he is.
     
  15. eatshitndie

    eatshitndie Alfrescian (Inf)

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    he will look down on all his minions from the hilltop.

    image.jpg

    (this pic is created and edited by me. feel free to use.)
     
  16. kopirui

    kopirui Alfrescian Old Timer

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    funny.
    this gesture is for praying to god.
    lky is god?
     

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