Ideas for Singapore

[flinger]

3. Introduce inflation indexed Government bonds as an alternative investment choice, particularly for retirees.

4. Issue Temasek Holdings shares into Singaporean CPF accounts (or allow people to purchase at low prices). Make them non-tradable on SGX, but allow people to receive dividends. Continue to issue new shares to young Singaporeans who start working from a fixed equity portion (diluting existing shareholders dividends if necessary)

I am a fan of the above two suggestions.

For no 3 : I always wondered why we don't have inflation indexed bonds as we tend to suffer from inflation , especially imported inflation due to the open nature of our country. This would be real boon for those retirees as it would help protect their retirement savings from inflation which is one of the biggest worry for a retiree.

For no 4: I thought it was talked about previously by PM's wife previously, but after that no news. This is a great idea in which the citizens can fund the organization investments and the organization in return provides them decent dividends. As they have highlighted that they have great track record, this is one way the govt can help the citizen invest for their future and retirement.

my two cents.

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Hi Zelphon,

I think the problem you talked about is acknowledged. But the solution you highlighted is not the right solution as subtly put by Tanjm.

Its not a single problem, its a multifaceted problem that needs to be looked at various angles and resolved.

The problem now is too much foreigners of dubious skills and talents...
And they are competing with local Singaporeans at PMET level and undercutting the salary level...

In additional, foreigners do not have NS liabilities ...

There have been reports of Master degrees holders from india coming here to get jobs in PMET level accepting salary at diploma holders level... And these people can't even communicate in proper English...

We do need foreign workers for jobs shunned by Singaporeans but the open door policy is driving median wage down amid high inflation and also stealing jobs from local PMET and especially fresh graduates..

If the employers still have easy access to foreign labor pool, who will want to employ locals especially aged PMET???

In current times, those who hit age 40 are in dangerous position to be retrenched amid downturn (even though they may be experienced and knowledgeable in their field)..

One such PMET (previously a manager in semicon industry) has to work as a dishwasher for $6/ hr after retrenchment... This was reported in Transitioning.org...

Look at how many aged has become taxi drivers...

Let's face it... Singaporeans CANNOT compete on COST in our own turf and most unscrupulous MNC and firms chose to hire foreigners rather than locals while enjoying the handsome tax benefits of operating in SG...

We are losing aged local talents to cheap foreign imports...
Yet PAP is promoting lifelong learning and work longer beyond age 68...
Problem is how many will be gainfully employed after age 40???

Even our public sector is being opened up to foreigners...HR of LTA and various govt agencies are flying to China and India to offer good PMET jobs to bright foreign talented graduates !!!! Even some MNCs are shamelessly advertising for PMET jobs overseas !!!

Look at the high cost of living in SG...
Can our local survive under such wage pressure, low job security and intense competition on COST ???

No wonder the no. of Singaporeans migrating overseas is on the rise over the years...

I agree with SDP's proposal of using 60 billion of our reserves to develop local brands and companies..

We used to be one of the 5 rising tigers of Asia !!!
We used to be well ahead of South Korea, and Taiwan...

Now South Korea has Samsung, Kia, LG, Hyndai, etc..
Taiwan has TSMC, UMC, etc..
What do Singapore have??

How come we failed to develop a massive global MNC after our lead in economy?

One of the key reasons is PAP placed too much emphasis in attracting foreign MNC and failed to give sufficient emphasis to local caompanies...
Foreign MNC wants labor.. PAP tweaked the laws to provide them cheap labors.. Foreign MNC wants low tax.. PAP gives generous tax incentives...

Now we have many MNCs setting up headquarters in SG..
They are here mainly because of the exposure to South East Asia (which will be the upcoming source of cheap labor after China).. Even Intel is going into Vietnam.. However, if PAP keep on pandering to these MNCs and undermine our local workforce and talent... Singaporeans will never be able to develop own brand and MNC and forever be relying on MNCs...
In the process, we are destroying ourselves slowly as our local talents get replaced..

PAP does not even dare to reveal the actual employment figures of Singaporeans vs PR, foreigners, etc...

We have to start the change now and use our reserves to fund the change and transformation before we are forever lost... All those bloody reserves has to go toward something... Why not spend on developing SG instead being used in loss making investments overseas???

I realised that I wrote a lot of ramblings.. I shall end this by giving this link to a 7 part youtube video of an analysis of Singapore by Taiwan Media... It is interesting to watch what Taiwan media thinks of SG..

http://www.youtube.com/watch?v=SC-dkoR0K...re=related