Tag Archives: Economics

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).

WHY/ WHO caused Singapore and Singaporeans lack of Enterprising Spirits ? How to overcome this ? LKY had straitjacketed too many of his people in his zeal and impatience to build up Singapore quickly. There was genius in them, but they could not move.

As I am writing this article – I had just done an hour’s interview for a documentary on the Mini-bonds saga in 2008. About 20,000 investors invested an estimated a few hundred million dollars. Vulnerable investors (age 60 and above with low education) got all their money back, whilst the majority of the other investors received partial refunds. After being questioned for an hour on – why did this happen? Who was responsible? Will it happen again? – You can imagine my frame of mind as I am writing this article.

During a walkabout at Taman Jurong yesterday, Deputy Prime Minister Tharman Shanmugaratnam told Singaporeans that Singapore has experienced real income growth over the past 5 years, a feat which is considered "really quite unusual" for most other developed economies.

Prior to this, I've been a very politically neutral person. The upcoming election drew my attention: many claims by the oppositions and their fellow supporters has been something that I would like to call 'sugar coated'. Remember what each and everyone of our parents told us about that weird uncle that will offer you a candy? Yes, nothing is free in this world. Everything good comes at a price, often higher than what most people would like to believe in.

Foreigners who bring their families over under the Dependant or Long Term Visit Pass from 1st September this year will need to be paid a higher salary in order to do so, says the Ministry of Manpower website. According to the MOM advisory, work pass holders will need to earn a minimum fixed monthly salary of $5,000 to sponsor their spouse or children to stay in Singapore on the dependant's pass, up from the current $4,000.

What we should look at as Singapore progresses beyond 50 years of existence, is perhaps better social integration, and development of our unique Singaporean identity and culture. That’s building a Singapore that our children can recognise and call home, wherever they may be in the world. It’s time to stop being just mere economic digits in a machine that only wants to churn out more economic digits to feed itself. You can’t take all that money to your grave.

After graduation from NTU, Fok initially joined a big four accountancy firm but left after just five months. He went on to join the Ministry of Education (MOE) to become a teacher as he had a passion for teaching. In 2012, he left teaching after three years, and subsequently, set up JCEconomics.com, a tuition centre at the Bukit Timah Shopping Centre, while doing a doctorate in education. He now spends his weekend tutoring and is self-employed. JCEconomics.com has at least 50 students and he pulls an income of $18,000 a month.