SM GOH CHOK TONG ASKS SINGAPOREANS TO SPEND MORE

Excerpts from SM Goh’s speech :



“If all of us go into a power save mode, then the economy will really go into a recession! This is what economists called the Paradox of Thrift.”



Our take: WOW, when Singapore’s economy grow, the credit goes to the PAP which prompty raise their salaries. When Singapore goes into recession, the fault lies with Singaporeans for not spending enough ! Remember how the blame for Mas Selamat’s escape is conveniently shifted to Singaporeans - because we are too complacent !



“Singaporeans are being complacent when they believe that the Government will take care of all security matters” ( MM Lee Kuan Yew on Mas Selamat’s escape, 5 April 2008, Straits Times )



“If you have sufficient savings and can afford to spend, you should continue to spend on life’s little pleasures.”



Our take: Previously, the PAP has been exhorting us to cut down on our spending all the while and now SM Goh asks us to spend. Or have he forgotten what his colleage Lim Hng Kiang said in November last year:



“First, the CPI measures average changes in prices across all households. Whether there is an increase in the cost of living for a particular household depends on that household’s spending patterns. Switching to cheaper products can reduce the cost of living despite a rise in the CPI” ( Lim Hng Kiang urging Singaporeans to switch to ‘cheaper’ products to cope with rising cost of living, 14 November 2007, Straits Times )



“Take your family to the movies, shop, dine out at restaurants and hawker centres, go for your regular foot massage, indulge yourself at a spa, take a taxi, donate to charity and so on. This way, we keep the economy going. In fact, I would say when times are a little slow, you could get the best bargain.”



Our take: SM Goh must be kidding. Only his wife, who earns more than a peanut a year is able to indulge in such luxuries, not ordinary folks like us who are struggling to pay for our utility bills, transport fares and three basic meals for the day. Can we get a better bargain now by shipping out our expensive ministers and replacing them with cheaper foreign talents ?



“You’re getting a bargain for the ministers you get… I worked half as much and earn(ed) five times more when I was in the private sector.” ( Minister of Manpower Dr Ng Eng Hen, 9 September 2003, CAN )



However we still don’t understand why SM Goh is so worried about our economy going into recession which will lead to the massive retrenchment he so crave for:

“Retrenchment is good for Singapore. If there is no retrenchment, then I worry.” ( Senior Minister Goh Chok Tong, 2006, Straits Times )