Truth telling

I write this in regret from news back home.

It seems that while other politicians overseas are speaking the truth and wanting to sort it out, ours aren't. Instead of speaking of the truth diplomatically, they have instead resort to false assurances, and misleading statements to "assure" Singaporeans.

But its their bad economical leadership that has put Singapore and its citizens in the current recession in the first place.

Why?

1. The market burst more than a year ago, in August 2007. Instead of taking early counter-measures, they have instead went on their plan for F1, IR and the Flyer. And then they continued to put even more money into destabilized American banks, which would, in the end, cost them more money.

2. Their efforts to loose up the local credit market, so as to 'boost' demand for HDB flats and private property, has instead created a dangerous property bubble. Of course, it was portrayed as a boom, and a good permanent boom. But inside, many young couples were borrowing a lot of money through banks and CPF, with high interest rates they couldn't afford to pay. And then they further mortgage their flats to buy a car which is also overpriced.

And now as the property bubble starts to burst- and it has already affected the freehold side- the people who borrowed on collateral might find themselves unable to pay for the loans they have taken out- and the interest.

The banks are also in trouble, because of this.

3. Instead of telling the truth after Aug 2007, a certain so-called "Father of Our Nation" said that the credit crunch would sort itself out by the end of 2007, and even said that Singapore was on the cusp on a golden period for the next five to ten years.

Its not even looking from a glass half full view; its completely false and virtually a lie. He is not stupid, and yet he gives out such stupid statements. Falsehoods and virtual lies should not coming out from such people. Its extremely wrong.


In the end, Ladies and Gentlemen, we cannot expect people who have created this domestic crisis to protect us from this crisis. Its like you're a Gotham City resident, and then trusting the Joker- who creates this chao to spite Batman- to cut the crap and protect the city.

And everyone knows that you can't trust the Joker; its illogical.

And in fact, the government is not even protecting the people. They have implied that if you can't afford it, you're dead. And worse, they have rubbed salt into the wounds by increasing everything from public utilities, the ERP to public transport. And so now as more ordinary people face wage cuts, and retrenchments, the government wants to collect more money from you.

In the end, what's the point of all the help they give in the GST rebates and what not, when they take back more away from you at the end of year? Its like early in the year, they give you $500. And then by 31st dec, they take back $5000. As Sen. Obama had said earlier this year: its nothing more than bait-and-switch.

Beware of such politicians who cannot show economical leadership: the bread and butter of politics in the first place.