No normal growth for Singapore economy

By: Chua Chin Leng

There is this article in the TRE by a blogger called ‘Jialut Liao’ with the title ‘Singapore economy will never have growth again’. Let me quote the first paragraph.

The economics headlines for Singapore have been bad. The predictions for 2017 are gloomy. Still… i have this nagging feeling that we are not getting the full picture ( or our Gov is not telling the whole truth)….

I agree the we are not getting the full picture and the govt is not telling the whole truth. So let me enlighten the readers on the whole truth and the exceptional strength of our economy. Look at the positives, the most important point is that Singapore has an exceptional govt, some called it abnormal govt because they were paid abnormally.

But this is really Singapore’s trump card, all the aces in the hand. Our govt are made up of very exceptionally talented men and women and they are worth every cent they are being paid. And everyone is paid more than the President of the USA, including junior ministers.

If you care to dig deeper, many ordinary MPs are also earning more than the President of the USA. And if you know their real take home pay, you will faint, shock to know how talented they are. This is the quality and depth of talents that Singapore has.

With this exceptional and abnormal govt, you cannot expect normal growth but exceptional and abnormal growth for Singapore. I am sure with this little truth all Singaporeans can now sleep in peace. The ministers can.

And this is not all, we have the best of everything, the best school system and universities that always produced straight As students and no failures or unmentionable small number of failures. In other words our education system has no wastage, producing the best workers and most employable workers in the world.

We even have excess of these talents to spread to the world. And this is real serious, the most talented and productive workers that are in demand all over the world, maybe not here.

We have the best infrastructure, public services, hospitals, transportation, best and most efficient sea port and airport. We have the best shopping centres and food paradise. Singapore has everything good here, everything is happening in Singapore. And we can splurge on anything we want, F1, Youth Olympic, miracle gardens, paying hundreds of millions for foreigners to run our top universities, maybe spend a few billions to buy F35s, the most expensive warplanes in the world. Singapore could just stop splurging on these luxuries and fantasies, it could easily save hundreds of millions for abnormal growth.

The slight slow down in the economy has nothing to worry about. We have millions of cheap labour from the neighbouring countries that came here to create more jobs for Singaporeans. And if the economy expands, we can import more, and the economy is expanding and our target is 6.9m and more, some say 10m.

We have not reached our full potential yet. Singapore can sign more CECAs to bring in more talents to boost the economy. We still have a lot of land to build flats and shopping centres and food courts. If need be we can have a few more casinos.

Wait for the completion of the 4th and 5th international airports, the Jewel, and the world’s biggest port in Tuas. I could go on and on. Singapore’s advantages and strength are unlimited. And if things need a little boosts, just raise the salaries of the leaders to spur them to work even harder and max their super talented skills.

Yes, with exceptional and abnormal talents in charge, Singapore will not have normal growth, but exceptional and abnormal growth. Maybe there will be more 15% GDP growth. And I have not spoken about our secret weapon, the huge reserves that are being invested wisely in everything all over the world, zealously guarded by the most talented president in the world, and giving abnormal returns annually, I think better than Warren Buffet’s fund.

Sleep well Singaporeans, you are in good hands. Don’t listen to rumours and doomsayers.

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