REACH 451 - What are your views on DPM Wong’s speech at the May Day Rally 2023? How can we better support workers and sustain growth to overcome the challenging economic outlook together?
(SK)
03 May 2023 (10am - 7pm)
REACH
[9:45 am, 03/05/2023] +REACH: Dear Contributors,
Welcome back! ๐
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Megan ๐
[10:00 am, 03/05/2023] +REACH: ๐ข Topic ๐ข
As protectionism rises in trade and investment, Singapore must refresh and strengthen its social compact with workers, said Deputy Prime Minister Lawrence Wong on Monday (May 1), as he gave the 4G leaders’ commitment to supporting workers and sustaining growth.
Addressing some 1,400 union leaders, workers and tripartite partners at Suntec Convention and Exhibition Centre, DPM Wong said that he and his 4G team are fully committed to looking after workers and helping them earn a better living, amid global economic uncertainty and geopolitical tensions,
๐ฌ What are your views on DPM Wong’s speech at the May Day Rally 2023? How can we better support workers and sustain growth to overcome the challenging economic outlook together?
๐Geopolitical Challenges
DPM Wong warned of the challenges facing Singapore: changing attitudes to trade, slowing foreign direct investment as “near-shoring” rises, and protectionism in investment, which meant that competition to attract investments will be much tougher. But with ingenuity and innovation, as well as “guts and gumption”, the country will prevail even when the odds are stacked against it, he added in his speech at the May Day Rally.
DPM Wong also elaborated on points made in April by Prime Minister Lee Hsien Loong on the multiple global storms ahead: US-China tensions (Taiwan as the reddest of China’s red lines), war in Ukraine, global multilateral trading system under siege.
๐Uplifting Workers
DPM Wong spoke on how the nationwide engagement Forward Singapore exercise will help workers. He said that in its Forward Singapore review, the Government is studying how it can invest more in every worker – to help them take ownership of their own careers, continuously reskill and upskill, and take up better jobs and opportunities throughout their working lives.
One way is by shifting SkillsFuture to a “higher gear”, he said, and making skills training and lifelong learning a key pillar of the refreshed social compact with every worker. Another is by paying special attention to those in vocational and technical roles, as well as Institute of Technical Education and polytechnic graduates.
๐Housing
On the specific concern of housing, he noted that supply is being increased to catch up with the pandemic-era backlog. Affordability should be considered not just in terms of the headline price of a Build-To-Order (BTO) flat, he added, but also how prices relate to income, and the proportion of income needed to service the housing loan.
๐๐ป Amid grim economic landscape, Singapore must have ‘something special’ to show: DPM Wong
https://str.sg/iodk
๐๐ป’We will always have your back’:4G team will look after workers in these dark times, says DPM Wong
https://str.sg/ioAu
๐๐ป Amid rising protectionism, Singapore must refresh, strengthen compact with works: DPM Wong
https://bt.sg/5HJr
๐๐ป Union leaders, MPs laud attention to upskilling workers in May Day Rally
https://www.channelnewsasia.com/singapore/singapore-may-day-rally-union-leaders-members-parliament-laud-upskill-workers-3456636
๐๐ป PM Lee outlines 3 geopolitical storms Singapore faces
https://str.sg/i4Kz
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[10:13 am, 03/05/2023] +Smiley face: "Is the world ready for a bigger war? Is Asia ready for a shooting war? Are we ready and prepared for the biggest contest of our lifetime?"
- - anonymity
[10:16 am, 03/05/2023] +Rama: Both will happen between 2025 to 2027.
[10:18 am, 03/05/2023] +Smiley face: Sooner!
Good morning, Andrew!
Thanks for the time line!
[10:18 am, 03/05/2023] +Smiley face: Food, Energy and Water!
Basics of war preparations?
[10:21 am, 03/05/2023] +Smiley face: There is a greater need today to SECURE and PATROL our 700km LNG Pipeline!
Our Navy, our ally Navy and coupled with QUIK and accurate intelligence!
No Energy, that will be a big problem!
Thank you.
[10:22 am, 03/05/2023] +Smiley face: Changi Naval Base will be one of the few key supplies bases... for food, for fuel and for etc...
[10:26 am, 03/05/2023] +Rama: America 4 star general said 2025. Xi Jin Ping said 2027. SME in China have been quietly been forced to produce items re related to war.
[10:30 am, 03/05/2023] +Ah Heng: if like that all residents better stay home
[10:31 am, 03/05/2023] +Ah Heng: sorry that it might sound rude
[10:31 am, 03/05/2023] +Ah Heng: does not mean Msia have such tots we should follow also
[10:32 am, 03/05/2023] +Ah Heng: instead this is the time where where resident have to be make known what is danger of not hydrating enuff (in respect to your deviation -> school / army / outdoor industriesespically have to be well aware)
[10:32 am, 03/05/2023] +Frankie Wee: Use AI communication la
[10:35 am, 03/05/2023] +Ah Heng: some of the listed points by reach is wihtin our little island control some are really beyond our control espically if THAT country keep stirring shit globally when is already bankrupt and expect others to buys its debt bond .. might as well sell the states to others who can better mgt them
[10:36 am, 03/05/2023] +Smiley face: "Learn how to see. Realize that everything connects to everything else."
- - Leonardo da Vinci
[10:38 am, 03/05/2023] +Ah Heng: on matters of wokers -> i will still stick to my echo, how and in what ways can the govt and union change the mindset that the talents they need is not found locally given 99% of our population are educated and by this i meant we are educated from poly levels onwards
[10:38 am, 03/05/2023] +Smiley face: 'If we lose the war, we'll be tried as war criminals..."
- - Major General Curtis Lemay
General Lemay said prior to the droppings of the Atomic bomb...
Good morning, Ah Heng!
[10:39 am, 03/05/2023] +Ah Heng: on the front of global challenges -> investment and fortifying our defense (military and staple have to continue), have to remember the basic despite having money does not mean the seller will want to sell you things ....
[10:39 am, 03/05/2023] +Smiley face: The higher One's education, the higher One's expectations in life and for his/her Family...
[10:39 am, 03/05/2023] +Ah Heng: Hello and morning Smiley face
[10:39 am, 03/05/2023] +Smiley face: Hi
[10:39 am, 03/05/2023] +Smiley face: Let's start the game of chat...
[10:40 am, 03/05/2023] +Frankie Wee: https://www.straitstimes.com/singapore/politics/spore-stepping-up-efforts-to-tackle-heat-as-temperatures-could-hit-40-deg-c-by-2045
[10:41 am, 03/05/2023] +Ah Heng: as for housing -> guess we have read a couple of cases in papers and social media where new owners are beating the system with empty housing ... and keeping it for resale -> HDB better step up their actions on these ...
[10:41 am, 03/05/2023] +Frankie Wee: Are we global warming in Singapore going hit 40 deg
Very hot
[10:42 am, 03/05/2023] +Ah Heng: No sweat lah local resident already experienced what is 40 degrees whenever they go Thailand for songkra ... what is 40 degress.. ask our NS boys .. we will never forget sayok
[10:42 am, 03/05/2023] +Frankie Wee: Thailand will hit 50 by 2055
[10:43 am, 03/05/2023] +Ah Heng: so ... do you think one will be around by then ....
[10:43 am, 03/05/2023] +Ah Heng: by then new technologies will be invented also
[10:43 am, 03/05/2023] +Ah Heng: leave these foresight job to the driver and his team
[10:43 am, 03/05/2023] +Smiley face: Kedah, is feeling the heat, NOW!
[10:43 am, 03/05/2023] +Frankie Wee: Hopefully it will be technology innovation
[10:43 am, 03/05/2023] +Ah Heng: laid man better focus on our daily bread
[10:44 am, 03/05/2023] +Frankie Wee: Too much building cause over heat
[10:44 am, 03/05/2023] +Frankie Wee: Less than tree
[10:44 am, 03/05/2023] +Ah Heng: one no bread still got time to think about future ...
[10:44 am, 03/05/2023] +Ah Heng: alot of reason case the heat is not only trees environment ...
[10:44 am, 03/05/2023] +Ah Heng: but root cause is humans ... hahahahaha
[10:45 am, 03/05/2023] +Ah Heng: but frankie is not wrong also
[10:45 am, 03/05/2023] +Ah Heng: compare today singapore and of yester years
[10:45 am, 03/05/2023] +Smiley face: Concrete floor versus green fields
[10:45 am, 03/05/2023] +Ah Heng: have we drop the title of garden city and become concreate garden ?
[10:45 am, 03/05/2023] +Ah Heng: have you notice we have lesser green around us
[10:46 am, 03/05/2023] +Ah Heng: espically in neighborhood (forget about the city is full of buildings always)
[10:46 am, 03/05/2023] +Smiley face: Heavy rain falls, how does rainwater flow?
[10:46 am, 03/05/2023] +Ah Heng: then having too much trees those people complaint tress will fall and crush properties and people
[10:47 am, 03/05/2023] +Ah Heng: have less tress we say no more greenery and not good for environment
[10:47 am, 03/05/2023] +Ah Heng: so where is the balance
[10:47 am, 03/05/2023] +Smiley face: You see, having CO2 is part of the earth's ecosystem!
[10:47 am, 03/05/2023] +Frankie Wee: All we need a breath Co2 from air through the tree nature forest
[10:47 am, 03/05/2023] +Ah Heng: or what can we do as balance
[10:47 am, 03/05/2023] +Frankie Wee: No tree all will die end
[10:47 am, 03/05/2023] +Ah Heng: even the military are getting smaller that used to be one source of greenery ...
[10:47 am, 03/05/2023] +Ah Heng: i mean military bases
[10:48 am, 03/05/2023] +Smiley face: Please Research into the Amazon forest!
How do the trees transpire water?
[10:48 am, 03/05/2023] +Ah Heng: the thing about these upskilling how manyyears we been blowing this tots?
[10:48 am, 03/05/2023] +Frankie Wee: Military will have technical use air oxygen or special equipment
[10:49 am, 03/05/2023] +Smiley face: Look at our garden by the Bay, those tall and standing concrete trees!
Same concept of condensation
[10:49 am, 03/05/2023] +Ah Heng: the root cause is after upskilling how much is the industry absorbing these new batch with market rate salary
[10:49 am, 03/05/2023] +Ah Heng: minus the sentiment that most company are not willing to consider over 40s/ 50s personnels
[10:49 am, 03/05/2023] +Smiley face: Building peoples' Expectations
[10:49 am, 03/05/2023] +Frankie Wee: global warming climate change
[10:50 am, 03/05/2023] +Dan: I was returning from Malaysia on Labour Day and I saw our immigration officers at the customs checkpoint with red flush cheeks. For workers working outdoors in this sweltering heat, please take care.
[10:50 am, 03/05/2023] +Frankie Wee: NK rocket ๐ nuclear
Russia keep o war
China over building high Si Fi
[10:50 am, 03/05/2023] +Smiley face: Is a tough job!
[10:51 am, 03/05/2023] +~L: Yep, I think that's true.
[10:52 am, 03/05/2023] +~L: Would be good for MoM to conduct some research into applications and hiring rate ratio for over 50s
[10:54 am, 03/05/2023] +Ah Heng: frankly all these survey i believe is grossly and disgustingly tweak
[10:54 am, 03/05/2023] +Rama: Agree
[10:54 am, 03/05/2023] +Ah Heng: is either we shut the tap for migrants works (which is impossible i agree) or we cast more filters in place to really get the talents we need
[10:55 am, 03/05/2023] +Ah Heng: is time the companies understand that is not locals that do not want to work but they are not paying the correct amount
[10:55 am, 03/05/2023] +Ah Heng: and they have to be realistic about working conditions
[10:56 am, 03/05/2023] +~L: How do these challenges relate to soaring rent from foreign investment? I worry that the CoL increases will drive people away and we will be left with soulless wealth that can vanish very quickly, leaving us with a gaping hole and massive skil shortage.
[10:56 am, 03/05/2023] +Ah Heng: actually huamns are better than robots (who are usually developed to do one job at one time only) for a human to multitask of 2 postion is consider very good already
[10:56 am, 03/05/2023] +Smiley face: Why do companies tend to avoid hiring workers above the age of 50?
Reasons? Anyone?
[10:56 am, 03/05/2023] +Ah Heng: slow compare to young
[10:57 am, 03/05/2023] +~L: Hiring managers are younger and not experienced.
[10:57 am, 03/05/2023] +Ah Heng: not open to new ideas
[10:57 am, 03/05/2023] +Smiley face: SPEED MEANS productivity
[10:57 am, 03/05/2023] +Frankie Wee: Why do bother issue age matter at 50
[10:57 am, 03/05/2023] +Ah Heng: higher pay (some but not all)
[10:57 am, 03/05/2023] +Frankie Wee: Healthy are well able to work
[10:57 am, 03/05/2023] +Smiley face: Disconnected beliefs and opinions
[10:57 am, 03/05/2023] +~L: Assumption over 50 hasn't the energy and out of touch with tech
[10:57 am, 03/05/2023] +Ah Heng: health is another issue (but after covid can anyone guarantee that aspect)
[10:57 am, 03/05/2023] +Smiley face: Competence issue... mismatched job or role
[10:58 am, 03/05/2023] +Ah Heng: is not only tech more like out of touch with the world
[10:58 am, 03/05/2023] +Smiley face: Robots are healthy lots
[10:58 am, 03/05/2023] +Smiley face: Competitiveness
[10:58 am, 03/05/2023] +Ah Heng: mismatch of job and role will have 2 sides to be responsible .. once detected job mismatch dun continue the hiring process with the candidate; candidate have to stop
[10:59 am, 03/05/2023] +Ah Heng: many forget with age comes experienced (foresight)
[11:00 am, 03/05/2023] +Smiley face: Some managers believed that older workers come with old ways and old habits!
Older workers are less likely to learn new Skills, faster and able to adapt!
" Teaching an old dog new tricks...?"
[11:00 am, 03/05/2023] +Ah Heng: also dun always think technology is always good sometimes process are better off wihtout tech
[11:00 am, 03/05/2023] +Smiley face: Corporations thinking like...
Productivity and Prosperity!
[11:02 am, 03/05/2023] +Ah Heng: will still says companies have to wake up -> your company can only do well is not because of ceo or investor is the working class that is helping you to fulfill these goals
[11:02 am, 03/05/2023] +Smiley face: Experience, these sellable Skills come in two main part!
One is relevant and a good previous experiences.
Two, you have the answer, just the reverse!
[11:02 am, 03/05/2023] +Ah Heng: workers also have to start realizing for company to do well it takes their parts
[11:02 am, 03/05/2023] +Smiley face: Tripartite affairs
[11:05 am, 03/05/2023] +Smiley face: "Every twenty years there will always be transformation (change) of tangibles and/or intangibles, something would happen...this coming transformation is about shortening the work time or restructuring the process or downsizing the workforce in order to achieve a leaner and more profitable outcome for businesses who embrace these digits (AI) and new ways in the making...!"
- - anonymity
[11:07 am, 03/05/2023] +Smiley face: This Digital tsunami will sweep away up to 50% of an existing workforce; from a micro firm to a nation's economies! Private and public!
[11:07 am, 03/05/2023] +Ah Heng: lets see will it be a tusnami or burst
[11:07 am, 03/05/2023] +Ah Heng: cos more and more calls are calling for AI to be stop
[11:08 am, 03/05/2023] +Ah Heng: some brainy says he never seen a kind of being that built a trap to killed oneself but humans is doing it ...
[11:09 am, 03/05/2023] +SL: The challenging world comes with a mountain of opportunity. The competition from nearshoring that DPM Wong highlighted is an issue. Ingenuity, innovation, guts, and gumption are what we need to move forward to maintain what we have achieved and become more relevant to the future world. Great, our leaders already thought about this and gave us clear direction. ๐๐
[11:09 am, 03/05/2023] +Smiley face: Tesla, currently able to produce it's EV using 75% robotics or automation.
Their vision is to up this enabler to 90%!
So what's Tesla looking at?
20 million EVs in the coming few years!
[11:10 am, 03/05/2023] +Ah Heng: but also remember the defects that results in recall also
[11:10 am, 03/05/2023] +Ah Heng: hahahahaha
[11:10 am, 03/05/2023] +Frankie Wee: Big boss firm want to hire AI instead human company save cost and support economy. Human upskill engineers support fix AI brain ๐ง either body
[11:10 am, 03/05/2023] +Ah Heng: like i agree with some brainy .. no brain or technology is better than that of human
[11:11 am, 03/05/2023] +Ah Heng: all this hype about AI is just another commercial thing
[11:11 am, 03/05/2023] +Ah Heng: cos comapnies are rushing to make the best and leading AI so they can net the fishes in the sea
[11:11 am, 03/05/2023] +Ah Heng: in order to do that they need funds and where these funds come from .. by creating marketing hooha about AI
[11:12 am, 03/05/2023] +Ah Heng: have anyone take note the so call god father of AI had already left google and he is not very keen for further development by man kind on AI also
[11:12 am, 03/05/2023] +Frankie Wee: AI 24/7 on running operations
[11:13 am, 03/05/2023] +Ah Heng: he is not the only one a few others too share his tots ...
[11:13 am, 03/05/2023] +Ah Heng: ur maintenance of AI will be more than hiring of human running 24hours ..
[11:13 am, 03/05/2023] +Ah Heng: thus not everything can replace humans
[11:14 am, 03/05/2023] +Frankie Wee: Sighh look at big boss too stringy $$$
[11:14 am, 03/05/2023] +SL: To request for a budget in congress?
[11:14 am, 03/05/2023] +Frankie Wee: Human is limited
[11:16 am, 03/05/2023] +Smiley face: How about bots and robots?
[11:16 am, 03/05/2023] +Ah Heng: companies now have the idea to only make money (Not wrong) but how much is enuff for them?
[11:17 am, 03/05/2023] +Ah Heng: even the hawker is set out to make money
[11:17 am, 03/05/2023] +Smiley face: "The pinnacle and the end game is TALENT identification and classification."
- - anonymity
[11:17 am, 03/05/2023] +Ah Heng: how many really say they are out in the fnb hawker mkt because they love being the line.. bullshit lah
[11:18 am, 03/05/2023] +Smiley face: Growth, Productivity and Prosperity!
Especially for corporations that are Public listed! Each Q, hopefully, must have progress or else...
[11:18 am, 03/05/2023] +Ah Heng: actually i have a requestion for reach not sure how related are these topic to the grassroots level ...
[11:18 am, 03/05/2023] +Ah Heng: cos i attended session in rc and found is so superficial
[11:19 am, 03/05/2023] +Ah Heng: they are more focus on organizing activities for the community ... something like the entertainment team in a company
[11:19 am, 03/05/2023] +Ah Heng: when it comes to policies all just keep quiet ...
[11:20 am, 03/05/2023] +Ah Heng: reach should brain tease these RC and make them comments and brain storm on policies
[11:20 am, 03/05/2023] +Ah Heng: else why give benefits to those so call executive members
[11:20 am, 03/05/2023] +Ah Heng: is thru RC that the govt can learn more ground ground sentiments, besides here
[11:21 am, 03/05/2023] +Smiley face: Country's politics...
ๅฝๅฎถๅคงไบ...
[11:21 am, 03/05/2023] +Ah Heng: here is that regular groups of people making noise .... our noise is and will one day be very monotonous
[11:21 am, 03/05/2023] +Ah Heng: certain individual will play the super pro part
[11:21 am, 03/05/2023] +Ah Heng: certain will always be cons
[11:22 am, 03/05/2023] +Ah Heng: how does that benefits, should not the net cast further and wider
[11:25 am, 03/05/2023] +Smiley face: The oil refining industry is already facing bottlenecks, and the biomedicine and semiconductor manufacturing industries are facing fierce competition... SG should think about new economic growth areas.
In addition to being linked to productivity, the government must take the lead in regulating the wage gap; in an era of rapid technological advancement; lifelong learning is indispensable; to meet the arrival of a super-aging society, the government must provide for the health and reemployment of the silver-haired people; by increasing income, and provide conditions; otherwise, our medical insurance burden will inevitably increase...
[11:29 am, 03/05/2023] +Ah Heng: wah smiley u brough up more problems for them to work on hahahah make them work for their money hahahaa
[11:30 am, 03/05/2023] +Smiley face: Proposed to NWC
3% to 5%, sector by sector according to relevance.
The three year on year on year compound increase will be 10% to 15% by the third year.
[11:31 am, 03/05/2023] +Smiley face: Either you start cracking your minds or millions of minds will start to crack you!
[11:32 am, 03/05/2023] +Ah Heng: wahhh u cracking the whip now hahahaa
[11:33 am, 03/05/2023] +Smiley face: Lift the whip or put it in its place?
[11:35 am, 03/05/2023] +Smiley face: LWW and cleaners shall benefit the 5% increase!
The high wage earners, they are able to weather the economics and inflation storms!
[11:37 am, 03/05/2023] +Rama: 46 trillions dollars in debt!
[11:41 am, 03/05/2023] +Ah Heng: will motion we benefits residents of singapore first
[11:41 am, 03/05/2023] +Ah Heng: not those who cross the causeway
[11:41 am, 03/05/2023] +Ah Heng: and it seems a good percentage of these causeway workers are freelancing in singapore also
[11:42 am, 03/05/2023] +Ah Heng: including deliveries workers / deco / and worst are those phv from jb
[11:42 am, 03/05/2023] +Ah Heng: they actually drive in to pick up clients form here and drive out
[11:42 am, 03/05/2023] +Ah Heng: cut our taxi and phv industry a good portion of trips
[11:43 am, 03/05/2023] +Ah Heng: cos they take jobs and do ferrying from places of interest to places of interest too
[11:45 am, 03/05/2023] +Ken: Err different is call engagement of the community…
[11:45 am, 03/05/2023] +Ken: Policy… if they organise open forum you can attend
[11:45 am, 03/05/2023] +Ken: Even here sometimes send out invitations to participate
[11:51 am, 03/05/2023] +Ah Heng: how many times they organized such forum or information sharing is another question to look into as well...
[11:52 am, 03/05/2023] +Ah Heng: it need not to be a forum .. just information sharing on govt policies is good so as to keep resident update of the changes / newly introduce policies etc etc
[11:52 am, 03/05/2023] +SL: The probability of a military campaign in Taiwan is not yet increased to a significant concern level based on open source information.
[11:53 am, 03/05/2023] +Ah Heng: hurh ppl talking about the weather lah if it hits 40degrees if there is govt plan to close school
[11:53 am, 03/05/2023] +Ah Heng: what had taiwan got to do with us here staying in door they wanna fight let them fight lor
[11:53 am, 03/05/2023] +Smiley face: $50T coming!
[11:53 am, 03/05/2023] +Ah Heng: but please pull out our assets from there first
[11:54 am, 03/05/2023] +Ah Heng: US govt
[11:54 am, 03/05/2023] +Smiley face: Seems so many changes too!
[11:54 am, 03/05/2023] +Ken: Platform for you to voice… don’t mean will always be considered ๐คฃ
[11:54 am, 03/05/2023] +Frankie Wee: Of course otherwise whole classroom more heat than fan
[11:54 am, 03/05/2023] +Ah Heng: they will activatemobilization of the printer
[11:54 am, 03/05/2023] +Ah Heng: they will never go into debt
[11:54 am, 03/05/2023] +Ken: Not everyone like to listen policy.. those who listen usually at the budget or rally are already listening
[11:55 am, 03/05/2023] +Smiley face: Where else to put these eggs?
Incubate in an enclosed farm or?
[11:55 am, 03/05/2023] +Ah Heng: den the whole island better stop working
[11:55 am, 03/05/2023] +Ah Heng: cos human will die the moment they walk out in 40 degrees
[11:55 am, 03/05/2023] +Ken: Possible… but is weather they want or not since we have WFH for school as well
[11:55 am, 03/05/2023] +Smiley face: "We have no lasting friends, no lasting enemies, only lasting interests..."
- - Winston Churchill
[11:56 am, 03/05/2023] +Ken: Do we want them to have the mindset bad weather don’t go school or work?
[11:56 am, 03/05/2023] +Ah Heng: 40 degrees cannot go school but can go thailand or even china for holiday
[11:56 am, 03/05/2023] +Frankie Wee: Can governments MoE afford to pay new air con all sg public school?
[11:56 am, 03/05/2023] +Ken: ๐คฃ๐คฃ
[11:56 am, 03/05/2023] +Ah Heng: 40 degress all wars will have to stop cos is not good for soldiers
[11:56 am, 03/05/2023] +Smiley face: Use drone!
[11:57 am, 03/05/2023] +Ken: Depends… our tanks got air corn hor
[11:57 am, 03/05/2023] +Ah Heng: 40 degress all flights have to stop cos planes will get super hot while on tarmac
[11:57 am, 03/05/2023] +SL: Do you refeting to the small and regional bank such as pacwest, western alliance, commerca etc performance yesterday?
[11:57 am, 03/05/2023] +Ken: Same for some APC models
[11:57 am, 03/05/2023] +Ah Heng: ur battery going first cos heat
[11:57 am, 03/05/2023] +Ken: Haha short term ok Lar…
[11:57 am, 03/05/2023] +Smiley face: Submarines!
[11:57 am, 03/05/2023] +Ah Heng: hear say the aircon not really aircon also
[11:57 am, 03/05/2023] +Ah Heng: they put wat system 2 inside from daikin?
[11:58 am, 03/05/2023] +Ken: Err… long time I don’t remember… but tonner and Land Rover is strong aircon lol
[11:58 am, 03/05/2023] +Ah Heng: seriously i hope we reach 40 degrees and see what happen to the public hahahahaha
[11:58 am, 03/05/2023] +Frankie Wee: Key error ๐
[11:59 am, 03/05/2023] +Ah Heng: govt please stop the heat from the sun they will complaint as if our govt is weather controller
[11:59 am, 03/05/2023] +Frankie Wee: Road over heat like you can cooking egg over pan
[11:59 am, 03/05/2023] +Ken: Err we have enough air conditioning place around to hide.. but is bad for the power grids.. and production plant operational cost will go up to cool down
[11:59 am, 03/05/2023] +Ah Heng: good mah save gas usage ...
[11:59 am, 03/05/2023] +Ah Heng: else complaint utilities bill too high
[0:00 pm, 03/05/2023] +Frankie Wee: Government pay it
[0:00 pm, 03/05/2023] +Frankie Wee: ๐
[0:00 pm, 03/05/2023] +Ah Heng: hurh ur house utlities govt pay ahhh so good
[0:00 pm, 03/05/2023] +Ah Heng: also if govt pay means pub will tell me ok due to high raw cost up gas charges by 5 cents
[0:01 pm, 03/05/2023] +Ah Heng: den next mth ok raw material goes down , can give discount of 2 cents aka still an increased of 3 cents ....
[0:12 pm, 03/05/2023] +SL: Profit maximisation under the concept of corporate stewardship.
[0:22 pm, 03/05/2023] +SL: 15.3 billion for fy2024, an increase of 4 billion as compared to Congress approved for fy2023 for indopacom. Currently, the debt is 31.4 trillion. Yellen target 50 trillion, in the news reported in April 2023.
[0:24 pm, 03/05/2023] +Smiley face: Thanks, SL for digging deeper...
[0:26 pm, 03/05/2023] +Smiley face: "If you're going through hell, keep going."
- - Winston Churchill
[0:29 pm, 03/05/2023] +SL: Heard the bill to increase the limit by congress was rejected. This is due to the limit cap and reduction congress want to impose. ๐คท♂️
[0:30 pm, 03/05/2023] +Smiley face: https://bgrdc.com/history-of-debt-limit-and-why-it-matters/
A good read to understand how the US debts, history and structures are...
BGR is a big lobbyist group.
[0:31 pm, 03/05/2023] +Smiley face: Lobbyists focused
[0:34 pm, 03/05/2023] +Smiley face: This old game of fear and uncertainties....over 70 times these debts have hit the roof!
So what's next and any new surprises or shocks coming?
Da Vinci said,... learn to see beyond...?
[0:35 pm, 03/05/2023] +SL: https://www.reuters.com/world/us/biden-will-talk-budget-wont-negotiate-debt-ceiling-congress-meeting-white-house-2023-05-02/
Both group focus on lobbyist and brinkmanship?
[0:36 pm, 03/05/2023] +Smiley face: Wow! Revelation!
[0:37 pm, 03/05/2023] +Smiley face: Ok ..
Strategic entities to secure.
Financials, Military, Digi tech, Material science, biochem...
[0:37 pm, 03/05/2023] +Smiley face: Same old ways...
[0:40 pm, 03/05/2023] +Smiley face: "For the US to continue to act successfully abroad, it must restore the domestic foundations of its power. Improving the lives of ordinary Americans is of secondary importance; what matters to the foreign policy elite is preserving America's capacity to shape events around the globe...Instead, the paramount feature of international relations in the first half of the twenty-first century is nonpolarity; power has been diffused, spread among an enormous list of entities capable in their own right to exert their influence."
- - Richard N. Haass "Foreign Policy Begins at Home 2013"
[0:41 pm, 03/05/2023] +Smiley face: "Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation."
- - Warren Buffett
[1:03 pm, 03/05/2023] +Rama: The provocation by China will increase the probability
[1:04 pm, 03/05/2023] +Rama: Wrong! It will affect us indirectly one way or another
[1:04 pm, 03/05/2023] +Rama: Yes
[1:05 pm, 03/05/2023] +SL: There are many stakeholders exercising their interest in this matter which will affect each other ultimately.
[1:06 pm, 03/05/2023] +Rama: Or electricity supply, sales of air conditioning and fans will sky rocket upwards
[1:06 pm, 03/05/2023] +Rama: Yes
[1:06 pm, 03/05/2023] +Rama: Our survival depends on trade!
[1:07 pm, 03/05/2023] +SL: From where may I ask?
[1:07 pm, 03/05/2023] +Rama: Anywhere associated with the US dollars
[1:11 pm, 03/05/2023] +SL: In a multipolar currency world, USD remains an important currency. I don't think USD currently has significant risk for us.
[1:13 pm, 03/05/2023] +Rama: MAS/GIC/Temasek Holds will know best.
[1:14 pm, 03/05/2023] +Ken: They do long term so a bit different bah
[1:14 pm, 03/05/2023] +Ken: As compare to short frame
[1:19 pm, 03/05/2023] +Rama: Believe they are keeping an eye on up coming alternative currency
[1:32 pm, 03/05/2023] +Smiley face: Long way to go...
Only through hit wars, the winner takes it ALL!
[1:34 pm, 03/05/2023] +Smiley face: How you derive countries exchange rates FX...
Besides trades, payments, bonds, deficit, surplus and so on ..
Peg against the US$.
[1:35 pm, 03/05/2023] +Smiley face: All trades have two things ..
Currency and routes!
The freedom to navigate is route!
[1:36 pm, 03/05/2023] +SL: They have expertise in managing this. Same as other banks and big corporations.
[1:38 pm, 03/05/2023] +TD: Actually Rainwater collection is more efficient in concrete jungles. Everything goes into the drains-> storm wells -> Reservoirs.
We loose less rainwater to the water table
[1:38 pm, 03/05/2023] +TD: *lose
[1:39 pm, 03/05/2023] +Boon: Look forward to the public actions related to these concerns. For example, how is Sg securing our food security? What can and must Sg (ordinary residents, civil servants and politicians alike) do more to be able to support our leaders stance that “we do not take sides” in the rivalry of giants - so that our island can remain peaceful too.
[1:43 pm, 03/05/2023] +TD: It's more China responding to US prodding their redlines I feel.
This year China has been already more restrained in their reactions to provocations by the US/TW
[1:44 pm, 03/05/2023] +Boon: Uplifting workers - Sg depends on an “invisible class” of foreign workers to function. From hawker centers to veggie sellers, small restaurants SMEs and even housing estates. You don’t see them but without them, we know the difference - things are much dirtier, service slower, small cafes closed, etc. So, how should we also take care of these ordinary foreigner workers helping to make our grassroots daily lives to be better? How can their rental cost be lower, their same needs to relax catered for?
[1:47 pm, 03/05/2023] +SL: Commodities pricing and transaction peg to USD. There are trillions worth of these types of transactions flowing thru the global banking system.
[1:47 pm, 03/05/2023] +Boon: Let’s also then be clear on the career and professional prospects of those in vocational and technical roles. Ultimately, they can be our next gen entrepreneurs. What’s the pathways for them to be recognised, rewarded and be fulfilled/respected for their skills and professionalism? Let’s walk the talk.
[1:47 pm, 03/05/2023] +Frankie Wee: Also FED again hike another 5.25%
[1:48 pm, 03/05/2023] +Smiley face: Thanks, SL for these valuable inputs!
" Old habits die harder...?"
[1:48 pm, 03/05/2023] +SL: If I remember correctly, pub have explored the method to harvest rainwater since 2019.
[1:48 pm, 03/05/2023] +TD: We have oversupply for Electrical Power generation.
[1:48 pm, 03/05/2023] +Smiley face: The Australian done it yesterday...25 points to 3.85%
[1:48 pm, 03/05/2023] +Ah Heng: Confirm liao ahh tot they meeting again somewhere this week I could be wrong
[1:49 pm, 03/05/2023] +Ah Heng: Yeap the Aussie did it ..did had some negative feel frm grd
[1:49 pm, 03/05/2023] +Smiley face: Happinesses!
Energy happens to be part of a big equation of sustainability and survival...
Energy!
[1:49 pm, 03/05/2023] +Ah Heng: We sounds like transformer hahaha sourcing for energy
[1:50 pm, 03/05/2023] +Ken: Foreigner workers are call foreigner workers for a reason. They help to booster the country the work in. To help with the bottom line as well as jobs that local don’t want to do.
At current we are slightly better in overall safety, and treatment hence still many come to singapore.
It takes two to clap, we likely don’t want them to stay for long hence not given fair treatment. And only allow males from the country for pure labour. ๐
[1:50 pm, 03/05/2023] +TD: US weaponization of the USD/SWIFT as seen in 2022-2023 means countries should be cautious of putting all their eggs into one currency.
[1:50 pm, 03/05/2023] +Smiley face: At 3.85%, there is more upside for the Aussie!
[1:50 pm, 03/05/2023] +Smiley face: Plus global injunctions aka sanctions!
[1:51 pm, 03/05/2023] +Ah Heng: Not for the fin mkt.... Word is they call the action stupidest ...
[1:51 pm, 03/05/2023] +TD: If anything though - Quite confident DPM/Mr Tharman and MAS are on top of this.
[1:51 pm, 03/05/2023] +TD: Very safe hands there
[1:52 pm, 03/05/2023] +Ken: We have quite smart people there…
For Singapore currency to still remain strong over so long
[1:52 pm, 03/05/2023] +SL: Fmoc meeting on 2-3 May. Expected to know the result publicly on 4 May. The market expected a 25bp increase, but who knows fed will increase how many Bp? ๐คท♂️
[1:52 pm, 03/05/2023] +Ken: But affecting business ๐ not easy to do business for manufacturing for export
[1:54 pm, 03/05/2023] +Boon: Should there be further refinements like rent-price controlled areas? Affordability is important and needs dialogues on what it should mean - could it lead to cash poor, CPF poor and asset “rich” - and constantly seeking govt welfare? This sort of affordability won’t add to people’s quality of living.
[1:55 pm, 03/05/2023] +Frankie Wee: Over the war trade likely continue increase hike affected global central bank system.
Why all county follow power FED as USD
[1:55 pm, 03/05/2023] +Frankie Wee: Without FED we can be peace
[1:57 pm, 03/05/2023] +SL: Old trick repeated many times, market figures out how it was done? ๐ค
[1:59 pm, 03/05/2023] +Rama: Their military is shortly to be on par with the US navy around TW. So, I expect humiliation prc got from America before they got their first aircraft carrier will turn on the Yankees!
[2:01 pm, 03/05/2023] +Smiley face: "Strategic competition (critical moments) is not a ping pong match, not a rallying of the ping pong ball between two players...NO ambiguity, it's WAR!"
- - anonymity
[2:02 pm, 03/05/2023] ☸️ Danny ๅฟ:
Protectionism in trade and investment
1. I think Singapore will face a serious challenges in trade and investment - as global protectionism take shapes.
a. BEPS - where global tax rate is to be fixed at 15% - will definitely erode our low tax structure to attract investments and create jobs for our people.
As tax are fixed globally, we cannot have lower tax rate to attract investors to set up offices and plants in Singapore - hence eroding one of our strength as tax haven for investors.
b. Billions of dollars of subsidies offer by Superpowers eg. US, China, EU, India etc to keep big corporations stay invested in their respective Countries - this will make Singapore very difficult to attract investors into our shore - as it is impossible to out compete Superpowers and big Countries with trillions of dollars GDP with billions of dollars to spend to keep their big corporations in their lands.
c. Near shoring, friend shoring - will make Singapore difficult to attract investors as investors will be attracted by big money, compel by political force to keep their investment near their big market or invest in "friend countries".
2. Hence the protectionism challenges we face is certainly mammoth - and Singaporeans need to close rank to support our Government to ensure we play to our strengths to keep investors coming and continue to invest in Singapore and create jobs for Singaporeans and residents.
3. Among our strengths are :-
a. We have a good Government, Business, Union and Labour cordial relationship - that are business friendly, focus in keeping our skills relevant and up to date, high productivity - whereby our higher income are commenurate with productivity.
Unlike the developed Countries with very strong union and labour that are militants - demand higher wages without productivity increases, 4 day work weeks, early retirement, pension scheme that are not sustainable -- that give a hard time to the business, investors and the government.
[2:02 pm, 03/05/2023] +TD: Quite some way to go before the PLAN can head to head with the USN though.
1) Yes the PLAN is modernizing and upgrading at an epic level and speed.
2) US Navy will still have superiority outside the 1st Island chain. Think for at least 30 years more.
Inside the 1st island Chain - hard to say.
[2:06 pm, 03/05/2023] +SL: Bretton Woods treaty in 1944 and petrol dollar in 1970s
[2:11 pm, 03/05/2023] +Smiley face: Any bingo!
Wow! SL, you are fabulous!
[2:12 pm, 03/05/2023] +Smiley face: You are a potential policymaker!
[2:15 pm, 03/05/2023] +SL: Beps 2.0 pillar 2 is the best option Currently. Based on the remarks from.mof website, there are tax losses if adopt pillar 1.
[2:20 pm, 03/05/2023] +Smiley face: 3 May, 2023
"While others jumped or attempts to jump, you stay put and watch these ripple of aftershocks..."
- - anonymity
How to stop this depressing rhythm of economics?
Ideally speaking, an old saying if, "money is the road to all evils" we should avoid this endless highway of pain and disaster?
If the order of numbers begin with 0 and ends at 9, how should one plan, rank and position in this numbers sequencing game (assuming zero sum in each unique event of occurance - micro & macro perspectives)?
Economics History of US?
In 1770-1780, the rate of inflation was 50%. Notable events are the Tea Act of 1773 and the Funding Act of 1775/77
In 1790-1800 it shrunk to -10%. Notable events are Bank of North America Act of 1781, First United States Ba…
[2:24 pm, 03/05/2023] ☸️ Danny ๅฟ: https://kpmg.com/xx/en/home/insights/2020/10/beps-2-0-pillar-one-and-pillar-two.html
[2:38 pm, 03/05/2023] +REACH: ๐ข Topic ๐ข
As protectionism rises in trade and investment, Singapore must refresh and strengthen its social compact with workers, said Deputy Prime Minister Lawrence Wong on Monday (May 1), as he gave the 4G leaders’ commitment to supporting workers and sustaining growth.
Addressing some 1,400 union leaders, workers and tripartite partners at Suntec Convention and Exhibition Centre, DPM Wong said that he and his 4G team are fully committed to looking after workers and helping them earn a better living, amid global economic uncertainty and geopolitical tensions,
๐ฌ What are your views on DPM Wong’s speech at the May Day Rally 2023? How can we better support workers and sustain growth to overcome the challenging economic outlook together?
๐Geopolitical C…
[3:02 pm, 03/05/2023] ☸️ Danny ๅฟ:
b. There is a need for business to have backup, safe redundant RHQ, manufacturing plants and regional market such as our ASEAN market, China market, India market etc - where we have joint venture park with many Countries as well as bilateral FTAs, and multi-lateral FTAs eg. RCEP, CPTPP etc- in case global supply chain fail.
We can leverage on our strength :-
i. Good and stable governance
ii. Good global connectivity - whether sea ports, OBOR, air ports, land links etc.
iii. Our myraid of FTAs - bi or multilateral
iv. Our JVs with many Countries industrial parks
v. Efficient transport system and many infrastructure as well as financial hubs, manufacturing hubs, logistics hub, maintenance hub, cyberinfo hub etc.
vi. Digital Economy and minimal bureaucracy to do business.
[3:07 pm, 03/05/2023] ☸️ Danny ๅฟ:
c. We need to maintain friends all over the World, as good relationship, people-to-people relationship, will make business, travel, and investment possible.
Hence the need to upheld our foreign affair principle :-
"Friends with All.
Enemies with None". -
--- will put us in good stead to ensure "friend shoring" will come to our shores as well as "near shoring" to our biggest market.
- We ensure we anchor into the supply chain from the US and Western bloc - through US FTA and EU FTA.
- We ensure we anchor into the supply chain with China - through Singapore-China FTA and many JVs on eco-city, Chongjing CCI, Greater Bay Area, Shanghai JV etc.
- We ensure we anchor into the supply chain with the ASEAN market through ASEAN FTA and myraids of industrial parks with many ASEAN countries.
[3:13 pm, 03/05/2023] +Rama: With no natural resources, this is the only way for us .
[3:15 pm, 03/05/2023] ☸️ Danny ๅฟ:
d. We need to double our effort in "Digital Economy" - as by beefing up our "VIrtual Marketplace, Virtual Trade, Virtual eCommerce, Virtual Transaction, Virtual Financial Transaction etc" ----- we will be able to pull in physical economic activities into our shore ----
Hence the needs to sign FTA on Digital Economy with our many FTA partners.
i. Where physical goods and services need to come to our sea ports, air ports and land transport.
ii. With economic activities coming into our lands by digital and virtual means - investors will be attracted into our shores - and start to setup business, and plants in our land --- and we can continue to become OHQ, RHQ, transhipment hub, logistic hub, manufacturing hub, financial hub, cyberinfocomm hub, maintenance hub etc.
iii. And jobs can be created for Singaporeans in the IT sectors.
iv. And indirectly, jobs in sea ports, air ports, logistics, banking, insurance, manufacturing etc will also continue to be vibrant.
[3:16 pm, 03/05/2023] +Rama: Totally agree
[3:21 pm, 03/05/2023] +~N: Uplifting Workers
Very often, within an organization, whether an employer supports an employee’s development is the organization’s discretion. For example, only earmarked employees would be sent for trainings that are not directly related to their work, for the purpose of development. Even if employee takes personal responsibility to attend upskill courses, employers may not recognize nor provide the practical opportunities to put upskilled knowledge to work, because the employee was not earmarked for development, and the self-funded upskill is neither a cost nor investment for the organization.
As much as government says special attention is given to those of ITE and polytechnic, within the organization, HR practices of benchmarking employees, of which education level is a component, would already pitch the individual employee at a lower ledge, not to mention other variables that employers openly or discreetly consider such as demographics.
If it is possible, there could be better employer and HR transparency. Employees who take the initiative to upskill, to request for development pathways, to be given reasonable consideration and opportunity to do so.
Housing
Households are different from families. There are families with more than 1 HDB, and there are families with only 1 HDB, and there are families who can’t manage to apply for HDB. HDB needs to do more to ensure that HDB is used as a home, and all who needs a home, can have one.
[3:21 pm, 03/05/2023] +Rama: Agree on housing
[3:21 pm, 03/05/2023] ☸️ Danny ๅฟ:
- We ensure we anchor into the supply chain with the India market through CECA, and JV industrial parks in India.
- We ensure we anchor into the supply chain with the Asia Pacific market through bilateral FTAs with Japan, South Korea, Australia, New Zealand and multi-lateral FTAs such as RCEP and CPTPP.
[3:22 pm, 03/05/2023] +Smiley face: Well written!
[3:27 pm, 03/05/2023] ☸️ Danny ๅฟ:
4. Once we are able to do well in the above - then Singapore stand a good chance to keep Global protectionism, near shoring, friend shoring and BEPS at bay ---- and we can not only survive but thrive in a very challenging external economic landscape :-
Just like we face exisential threat from British withdrawal, water cut etc.
We can emerge from these mammoth challenge --- as we see a 4GL leadership transition ---- that we should not fail.
[3:33 pm, 03/05/2023] +Smiley face: Add on to N comments...
Housing is always a sensitive political issue in any population. And in SG, people happens to place home or the second home their pride in life! In life, people have multiple choices to decide and housing is the number one in the millions of minds whether is to own or to rent or to buy the next one; you need a roof over your head. This strategic asset is getting expensive. The other considerations are jobs, security and safety!
As policymakers, it is a tough job to balance between affordability, accessibility and people!
Why so tough?
You afford and thereafter the herd effects of buy, buying, over bought!
[3:35 pm, 03/05/2023] +Smiley face: You slowed accessibility is like slowing down social mobility! It has a bad side too! The wider the wealth gap follows by the income gap which will quickly turned into a segregated society of the achievers, the aspirers, and the losers; two extreme ends and one in-between, that will be the permanent strata of our society!
How to compact or unite as many people as possible?
A bunch of fairer policies of taxonomy from housings to fees to utilities to petrol price. The least lots that benefits the least shall foot the least fees or taxes? Sounds like we have been doing it and its on-going efforts to balance many tangibles!
The challenge is the bulk, aka the middle class income earners or households!
How can we not squeeze them at the same time not overly ch…
[3:37 pm, 03/05/2023] ☸️ Danny ๅฟ:
5. Else if we fail in our 4GL leadership transition, we score an own goal - then we will solve our internal squabble in a very ugly way -- that shoot ourselves in our own foot:-
a. Business loss, investment pull out - as our governance and economic directions go haywire
b. People lose jobs.
c. Housing prices will fall and plummet from values - as investors pull out. - Then probably we will complain why our housing price so low.
d. Consumption demand will fall - probably inflation will also fall - but people cannot afford to buy essential goods - as we lose our jobs.
e. Our wealth plummet and our savings get depleted.
f. Our currency values fall, lead to imported inflation.
g. Car price fall - as people cannot afford to buy car lead to low COE prices.
And our wish and the opposition wish to have low housing price, low car price --- are realised in a very ugly way --- that probably no Singaporeans will want it to happen.
[3:38 pm, 03/05/2023] +Rama: I believe the future is going to be extremely tough so it's important citizens understand and support the 4G team to help us through.
[3:40 pm, 03/05/2023] ☸️ Danny ๅฟ:
It is going to be very tough - as Superpowers want to please their voters - at others expenses.
And we suffer collateral damages.
It started by Trump administration - and now all hell break loose.
[3:40 pm, 03/05/2023] +Rama: Agree
[3:42 pm, 03/05/2023] ☸️ Danny ๅฟ:
Such development mirror ww1 and ww2 deep depression - where superpowers turn inwards and become selfish and self centered.
Trump trigger it off and Biden keep the momentum going.
[3:49 pm, 03/05/2023] ☸️ Danny ๅฟ:
As Superpowers turn inwards economically, they armed themselves to the teeth - like in ww2, Hitler ramp up their war machinery, Japan imperialist ramp up their war machines.
Psycho their own people to prepare for war.
Look at what happens to the current world:-
1. US bipartisan lawmakers psycho their people to hate China and Russia.
2. Yesterday I watch in CNA the entire military development and preparedness of China PLA - they intend to be ready for a big war over Taiwan and likely to take in US.
Their people are psycho to face US.
3. US are whipping up 5-4-3-2 military blocs alliance to go headon with China and Russia.
All these mirrors ww1 and ww2 trajectories.
[4:00 pm, 03/05/2023] ☸️ Danny ๅฟ:
1. Taiwan political landscape is not encouraging.
2. Taiwan DPP are strongly united - and have chosen William Lai to be the candidate for 2024 Presidency election.
He is more radical than Tsai Ying Wen - and has anger China immensely - which in fact he is among the 1st to get sanction by China.
DPP are able to sell themselves well especially to younger voters - who are not keen on China reunification.
3. Taiwan KMT is a party that is disunited with a few candidates vying for the Presidency.
Most candidates appeal to the older voters who are keen on China reunification but not the younger voters.
One younger candidate - the descendant of Chiang Kai Sek - is well like by the younger voters - but being overwhelmingly elected as Taipei mayor - he will have difficulty forgo his mayor seat to go for Presidential election - as voters will turn against him.
4. Hence Taiwan Presidential election - means DPP candidate stand a good chance.
If DPP candidate win, the chances of China punishing Taiwan will be very high. And this could means military confrontation.
5. If China and Taiwan war break out - our $3 trillion sea and air trade route will be cut.
If US and its allies 5-4-3-2 take part in the fight - then all hell will break loose - as big war erupt at our backyard.
Trade, investment, travel, business and our jobs will go down the drain.
[4:01 pm, 03/05/2023] +Rama: Shocking and frightening!
[4:03 pm, 03/05/2023] +Smiley face: https://www.kyivpost.com/post/16484#:~:text=On%20April%2026%2C%20China%20unexpectedly,territorial%20integrity%20of%20all%20states.
[4:04 pm, 03/05/2023] +Smiley face: Shocking and frightening?
[4:07 pm, 03/05/2023] +Rama: https://www.theonlinecitizen.com/2023/05/02/dpm-wongs-remark-on-bto-flat-prices-moving-in-tandem-with-income-draws-backlash-from-netizens/
[4:09 pm, 03/05/2023] +Caleb: So those earn less than $4,000, can get allowance from the gov?
[4:12 pm, 03/05/2023] +Smiley face: Hi Caleb!
[4:13 pm, 03/05/2023] +Smiley face: "Population is about people; Policy is to achieve a balance for as many people as possible..."
- - anonymity
Nobody loves to hate:
The latest increased in the ABSD is understandablly a cooling measure to balance both the prices and supply of housings as a contingent.
However to some people, they may not be happy because just when they aspire to buy their second property, the runaway has started and dampened their hopes to buy the next property to rent the existing unit or to stay in a bigger unit or to upgrade to a better location or cannot afford to buy a BTO?
The worse is yet to come?
The chance of owning a landed property for the younger generation are even harder and realistically their odds are 5%; in hope of owning one?
Nobody hates winning:
S…
[4:14 pm, 03/05/2023] +Smiley face: Trust...
[4:15 pm, 03/05/2023] ☸️ Danny ๅฟ:
Uplifting workers
1. Uplifitng workers is always and ongoing process - and i feel that our government has put in a structured progromme, Skillsfuture, Train and Placement scheme, Conversion programme, bytesize training programme etc.
2. Of course there will always a need to refine, and fine-tune the programme to ensure that retrenched workers, matured workers - get the right training, right skillsets to be place in jobs.
3. The challenge is also to get business buy-in to employ workers after the completion of such continuous training.
4. However, the advent of smarter and smarter AI --- are putting worries on government, and workers - that it may replace their jobs.
But somehow, I feel that such worries mirror those worries when mechanisation, automation, computerisation emerge that fear of replacing human jobs.
But no matter how smart AI is, human jobs will still be needed - and humans need to adapt to exploit AI like exploiting mechanisation, automation and computerisation to make ourselves more productive and earn high income as we exploit AI.
Understand that generative AI can be quite risky and dangerous - whereby EU has enacted law to ensure AI danger are effectively tackle and US White House - is holding AI developers responsible to push out AI that is not dangerous to humans.
Likewise, Singapore should also study this AI trend carefully, work with foreign Countries to exploit AI to our advantages while reining in the risky side of AI.
[4:16 pm, 03/05/2023] ☸️ Danny ๅฟ:
"Google, Microsoft CEOs called to AI meeting at White House"
https://uk.finance.yahoo.com/news/google-microsoft-openai-ceos-attend-195246475.html#:~:text=All%20rights%20reserved.-,Google%2C%20Microsoft%20CEOs%20called%20to%20AI%20meeting%20at%20White%20House,-David%20Shepardson%20and
[4:16 pm, 03/05/2023] ☸️ Danny ๅฟ: https://news.google.com/articles/CBMiaWh0dHBzOi8vd3d3LnNjbXAuY29tL3RlY2gvYmlnLXRlY2gvYXJ0aWNsZS8zMjE5MDk0L2libS1wYXVzZS1oaXJpbmctam9icy1hcnRpZmljaWFsLWludGVsbGlnZW5jZS1jb3VsZC1kb9IBaWh0dHBzOi8vYW1wLnNjbXAuY29tL3RlY2gvYmlnLXRlY2gvYXJ0aWNsZS8zMjE5MDk0L2libS1wYXVzZS1oaXJpbmctam9icy1hcnRpZmljaWFsLWludGVsbGlnZW5jZS1jb3VsZC1kbw?hl=en-SG&gl=SG&ceid=SG%3Ae
IBM to pause hiring for jobs that artificial intelligence could do.
Hiring in back-office functions – such as human resources – will be suspended or slowed, CEO Arvind Krishna said in an interview.
IBM currently employs about 260,000 workers and continues to hire for software development and customer-facing roles.
[4:16 pm, 03/05/2023] ☸️ Danny ๅฟ: https://news.google.com/articles/CBMiTGh0dHBzOi8vd3d3LmJ1c2luZXNzaW5zaWRlci5jb20vYWktdGVjaC1qb2JzLWxheW9mZnMtY2Vvcy1jaGF0Z3B0LWlibS0yMDIzLTXSAVBodHRwczovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2FpLXRlY2gtam9icy1sYXlvZmZzLWNlb3MtY2hhdGdwdC1pYm0tMjAyMy01P2FtcA?hl=en-SG&gl=SG&ceid=SG%3Aen
CEOs are getting closer to finally saying it — AI will wipe out more jobs than they can count.
[4:18 pm, 03/05/2023] +Rama: Will mankind be fast enough to adapt, adjust and unskilled in time!?
[4:19 pm, 03/05/2023] +Smiley face: Hopefully faster than computers, this time!
[4:21 pm, 03/05/2023] +Smiley face: 3 May, 2023
Super efficiency!
The AI of tomorrow will be super efficient not just in the speed of counting but also human like response from ethics, character, communicate as well as scholastic abilities all in separate modules up in the cloud!
Who is going to lead this transformative technology that will change the existing ways of doing business or making future decisions? The American seems to be the frontrunner of tomorrow's AI !
As an example, a complex structural design of a building usually takes a month or more to be ready and the AI will print it out within an hour! That's super efficient and the results are amazing and accurate too.
It's almost all done for humans, AI will be capable to take over half or more what human achieved for the last 100 years.
- - in progress - -
[4:22 pm, 03/05/2023] ☸️ Danny ๅฟ:
Housing prices
1. A price increases in housing is inevitable as time go by - due to inflation, increase in values due to limited premium spaces, increase in workers' salaries, increase in material cost.
2. This is imperative not only to housing but also many things like food, goods and services we buy --- as people salaries also increase year by year.
3. Cannot be the price of houses are in the 1960s - as we are in 2030s where our income increase exponentially.
4. Hence I agree with DPM Wong analysis - as long as our income is able to catch up with housing price increaes - and able to pay as we are in the 1960, 1970 ...... 2000s through our CPF without paying a single cents through a 20 years loan ---- then we should be in a good stead.
[4:23 pm, 03/05/2023] +Rama: ๐ณ๐๐คท♂️
[4:23 pm, 03/05/2023] ☸️ Danny ๅฟ:
Like I. Mechanisation, Automations and computerisation - humans are not defeated - in fact earn higher income through higher productivity.
Likewise in AI, I think humans can beat AI.
[4:24 pm, 03/05/2023] +Smiley face: Aspiring statement...
[4:25 pm, 03/05/2023] +Rama: The guy who did AI for Google quit. Afraid what bad elements will make use of AI!
[4:26 pm, 03/05/2023] ☸️ Danny ๅฟ:
Government worldwide got to control.
[4:26 pm, 03/05/2023] +Smiley face: https://m.timesofindia.com/business/international-business/in-ai-fight-between-pichais-google-and-nadellas-microsoft-arvind-krishnas-ibm-and-many-others-will-bleed-jobs/articleshow/99941441.cms
[4:29 pm, 03/05/2023] ☸️ Danny ๅฟ:
Else our assets value in houses become worthless.
[4:29 pm, 03/05/2023] +Smiley face: https://www.cnbc.com/2023/05/03/after-first-republics-rescue-economists-predict-further-pain.html?__source=androidappshare
[4:30 pm, 03/05/2023] +Smiley face: Unless....3 factors!
[4:30 pm, 03/05/2023] +Ken: Then start learning lor…
[4:30 pm, 03/05/2023] +Ken: We see the trend, still not too late to catch up
[4:30 pm, 03/05/2023] +Smiley face: The problem is....catching no ball!
[4:31 pm, 03/05/2023] +Ken: Like nuke… AI can be use for good or bad depends on the person
[4:31 pm, 03/05/2023] +Ken: Start from data cleaning
[4:31 pm, 03/05/2023] +Smiley face: Exponential explosions!
[4:31 pm, 03/05/2023] +Smiley face: Ok... cleaning
[4:32 pm, 03/05/2023] +Ken: Not everyone can be data scientist, but data engineers are relatively much simpler…
[4:32 pm, 03/05/2023] +Ken: Just SQL mainly…
If possible Python… lol I still trying ๐คฃ๐คฃ
[4:33 pm, 03/05/2023] +Ken: There are non code alternatives like unipath and anaplan
[4:37 pm, 03/05/2023] +Rama: I worry about rogue governments!
[4:38 pm, 03/05/2023] +REACH: ๐ข Topic ๐ข
As protectionism rises in trade and investment, Singapore must refresh and strengthen its social compact with workers, said Deputy Prime Minister Lawrence Wong on Monday (May 1), as he gave the 4G leaders’ commitment to supporting workers and sustaining growth.
Addressing some 1,400 union leaders, workers and tripartite partners at Suntec Convention and Exhibition Centre, DPM Wong said that he and his 4G team are fully committed to looking after workers and helping them earn a better living, amid global economic uncertainty and geopolitical tensions,
๐ฌ What are your views on DPM Wong’s speech at the May Day Rally 2023? How can we better support workers and sustain growth to overcome the challenging economic outlook together?
๐Geopolitical C…
[4:39 pm, 03/05/2023] +Ken: Too late to control… only can set parameters… if sept the potential will be limiting
[4:42 pm, 03/05/2023] +SL: Agenda A/77/251 main objective is focus on cooperation between the un and the council of Europe. Draft A/77/L.65 included a sentence on “recognizing also that the unprecedented challenges now facing Europe following the aggression by the Rusian Federation against Ukraine, and against Georgia prior to that, and the cessation of the membership of the Russian Federations in the council of Europe, call for strengthened corporations between the united nations and the council of Europe, .......”
[4:43 pm, 03/05/2023] ☸️ Danny ๅฟ: https://news.google.com/articles/CBMiZGh0dHBzOi8vc2NyaXBwc25ld3MuY29tL3N0b3JpZXMvcmVwb3J0LW91dGxpbmVzLXdoaWNoLWpvYnMtYXJlLW1vc3QtdnVsbmVyYWJsZS10by1haS1uZXctdGVjaG5vbG9neS_SAWhodHRwczovL3NjcmlwcHNuZXdzLmNvbS9hbXAvc3Rvcmllcy9yZXBvcnQtb3V0bGluZXMtd2hpY2gtam9icy1hcmUtbW9zdC12dWxuZXJhYmxlLXRvLWFpLW5ldy10ZWNobm9sb2d5Lw?hl=en-SG&gl=SG&ceid=SG%3Ae
Report outlines which jobs are most vulnerable to AI, new technology.
Although new tech is expected to create 69 million jobs, automation could cause 83 million people to lose their jobs by 2027.
[4:45 pm, 03/05/2023] +SL: If I understand correctly, this sentence was amended several times in the draft due to countries' abstention and no voting before the overall vote for A/77/251
[4:55 pm, 03/05/2023] +Smiley face: SL, you are a talent!
Wow!
[4:57 pm, 03/05/2023] +Smiley face: https://www.scmp.com/news/world/russia-central-asia/article/3219131/first-time-it-invaded-ukraine-russia-expected-start-buying-chinese-yuan-again-replenish-its-foreign
Pls digest this article...SL!
[4:59 pm, 03/05/2023] +Smiley face: One more to digest....
[4:59 pm, 03/05/2023] +Smiley face: https://www.reuters.com/article/china-markets-mideast-idUSL4N36G3FP
[5:06 pm, 03/05/2023] +Smiley face: The Saudi-Iran relationships, done!
China is in the process of uniting "Israel - Palestine" affairs!
What is Abraham Accords?
[5:06 pm, 03/05/2023] +SL: No unique in this transaction. Both countries' trade in commodities is enormous.
[5:08 pm, 03/05/2023] +Smiley face: Yes,is true!
In previous months, the Russians sold the Yuan for UD$ and Euro$
[5:10 pm, 03/05/2023] +SL: Risk management and diversification? May see the implication for Credit Suisse.
[5:14 pm, 03/05/2023] +Smiley face: What if China is holding trillions US dollars?
Holding your enemy's currency, what are you gonna do about it?
[5:14 pm, 03/05/2023] +SL: ๐, does it sound weird about the reality of this?
Russia getting these currencies for transactions while the perceptions formed after reading some Western newspapers is the difference?
[5:15 pm, 03/05/2023] +Smiley face: Alliances with middle east countries!
More to it than the news!
[5:15 pm, 03/05/2023] +Rama: Play the field in your favour!
[5:15 pm, 03/05/2023] +Smiley face: Like it, Wow! Andrew you clever!
[5:16 pm, 03/05/2023] +Smiley face: April 26, China voted against his buddy Russia at the UN meeting, India too!
What's the game heading?
That's frightening!
[5:16 pm, 03/05/2023] +SL: Middle east countries are tapping the opportunity for development.
[5:17 pm, 03/05/2023] +Rama: Russia needs China and not the other way around!
[5:17 pm, 03/05/2023] +Smiley face: SL, you are a smart one!
Smell the money and seize the opportunities!
[5:17 pm, 03/05/2023] +SL: A/77/251 is not focused solely on Russia Federations.
[5:18 pm, 03/05/2023] +Smiley face: US-China-Russia...
Which to eliminate, from the perspective of the US?
[5:18 pm, 03/05/2023] +Rama: China
[5:18 pm, 03/05/2023] +Smiley face: That's good news!
[5:18 pm, 03/05/2023] +Smiley face: Chicken or eggs?
[5:18 pm, 03/05/2023] +Rama: Eggs
[5:19 pm, 03/05/2023] +SL: All nations prosperous together in this planet...
[5:19 pm, 03/05/2023] +Smiley face: Wow! Breaking the eggs!
Messy!
[5:19 pm, 03/05/2023] +Smiley face: Aspiring statement...
[5:19 pm, 03/05/2023] +Rama: Eat the chicken first!
[5:20 pm, 03/05/2023] +Smiley face: Like it!
Stalin would love you to join his advisory board!
[5:20 pm, 03/05/2023] +Rama: ๐ณ๐๐คท♂️
[5:20 pm, 03/05/2023] +Rama: Eradicate the species totally!
[5:21 pm, 03/05/2023] +Kenneth Lee WM: What's missing in May Day message is the details about what other things the government is doing to attract more companies to start more businesses here and hire more workers. Need more details about what "ingenuity and innovation" means. It is a really challenging task and I don't envy them but that's why we're paying our ministers millions.
We can train lots of workers but if there are no businesses to hire them, it's pointless. It's also not meaningful for gov to create jobs like "cleanliness ambassador" for long term. There's a limit to the government coffers and it's not possible "support workers" indefinitely; unless Singapore has built up a huge reserve that we're not aware of that's generating lots of passive income to fund the support programs.
We have heard about Family Offices getting traction here but the hiring numbers in those won't move the hiring needle much. Getting Dyson to start R&D and their battery manufacturing plant here is a great win as it'll create thousands of good paying jobs. We need more of the Dyson types of companies to operate here.
It's a pity we failed to attract the Taiwanese chip manufacturers to build their high end chip foundry here.
Nevertheless, I'm heartened that there are assurances put in place to support workers whilst the "Singapore Inc marketing team" is drumming up business for Singapore Inc.[5:23 pm, 03/05/2023] +Smiley face: " When you sacrificed a few is sad,...when you sacrificed a few millions is just numbers..."
- - J Stalin
[5:23 pm, 03/05/2023] +Rama: The number of people he killed during his reign!
[5:24 pm, 03/05/2023] +Smiley face: Yupp!
[5:24 pm, 03/05/2023] +Smiley face: Hopefully, Hyundai will follow too!
[5:25 pm, 03/05/2023] +Smiley face: Malaysia, you have BYD and Tesla
[5:25 pm, 03/05/2023] +Smiley face: Thailand, more nations are going in to set-up their factories, japanese, Americans etc
[5:26 pm, 03/05/2023] +Rama: Singapore!?
[5:26 pm, 03/05/2023] +Smiley face: Matching jobs with skills, whether is upskilling or retraining.
Both are trick chores!
[5:27 pm, 03/05/2023] +Rama: A close watch on emerging technologies and dissappearing industries!
[5:27 pm, 03/05/2023] +Smiley face: Hyundai, Global Foundry, pfizer-biontec, UMC
[5:28 pm, 03/05/2023] +Smiley face: Super tricky!
[5:28 pm, 03/05/2023] +Smiley face: Just when you trained, there goes all the learned Skills!
[5:28 pm, 03/05/2023] +Rama: Yes!
[5:29 pm, 03/05/2023] +Smiley face: So importantly, what are the Skills to train and invest on our people?
[5:29 pm, 03/05/2023] +Smiley face: Let's identify now!
[5:29 pm, 03/05/2023] +Smiley face: Hunan is efficient
Machine is super efficient
[5:30 pm, 03/05/2023] +Smiley face: Targeted trainings!
[5:30 pm, 03/05/2023] +Rama: Intense
[5:30 pm, 03/05/2023] +Smiley face: It is not a game of roulettes!
[5:31 pm, 03/05/2023] +Rama: Our economy and survival at stake!
[5:31 pm, 03/05/2023] +Smiley face: Spreading all the 36 and forgot about that ZERO!
[5:31 pm, 03/05/2023] +Smiley face: Not a problem
[5:31 pm, 03/05/2023] +Smiley face: Sequential logic
[5:32 pm, 03/05/2023] +Rama: Robot overworked and get frustrated because today is Labour Day and no rest. Hence show its frustration.
[5:32 pm, 03/05/2023] +Smiley face: SG will thrive!
[5:33 pm, 03/05/2023] +Smiley face: Learned?
[5:34 pm, 03/05/2023] +SL: Programming bugs... Chatgpt can help in debugging..
[5:35 pm, 03/05/2023] +Smiley face: Not a problem!
Teething issues!
Robots frustrated!
Human will quit!
[5:35 pm, 03/05/2023] +SL: Online News reported Samsung is using chatgpt in debugging. The same process can apply.
[5:37 pm, 03/05/2023] +Smiley face: The Price spread!
[5:38 pm, 03/05/2023] +Smiley face: The Koreans are having their own challenges!
Up to $500m/mth losses!
[5:38 pm, 03/05/2023] +Smiley face: Microsoft is emerging as the frontrunner of AI!
[5:39 pm, 03/05/2023] +Smiley face: Sony+Toyota collaborating
[5:42 pm, 03/05/2023] +Smiley face: Naval Air Station Keflavik (Iceland)
1949 to 2006 -
After WW2 and into the Cold War era, Keflavik was a strategic US Air force Command in the the upper most North of Europe guarding the Soviets military movements and reconnaissance missions.
Towards the end of this long military expedition, the annual cost of placing 5000 personnel and families amounted to $250 millions annually!
Watch this place!
- - in progress - -
[5:42 pm, 03/05/2023] +SL: April semicon export dropped from 10.78 to 6.38bil in conjunction with the tumble of 26.5% export to China, which has a record of 2.27bil deficit in trade with China. A 7 months continue shortfall in a row.
[5:47 pm, 03/05/2023] +Smiley face: SL, you are simply the Best!
How about the % of FDI pulling out of china?
[5:49 pm, 03/05/2023] +Smiley face: Microchips more valuable than crude oil?
[5:49 pm, 03/05/2023] +Smiley face: Tesla will become a software giant!
Software to operate the EVs, consumers will upgrade these softwares!
[5:52 pm, 03/05/2023] +Smiley face: https://www.cnbc.com/2023/02/19/how-an-autonomous-train-bus-hybrid-could-transform-city-transit.html
[5:54 pm, 03/05/2023] +SL: Q1,2023, records show fdi inflow to 59bil, top 3 contributors in %: (1) french increased 63%, (2) uk increased 680%, 3) Canada increased 179%
[5:55 pm, 03/05/2023] +SL: Billion in USD
[6:00 pm, 03/05/2023] +Smiley face: Outflows?
[6:01 pm, 03/05/2023] +Smiley face: What does it say about these FDIs? How about the inflows of the middle east investments?
[6:27 pm, 03/05/2023] +Smiley face: Millions of jobs will be lost as world sees net decrease by 2027: WEF survey
https://www.straitstimes.com/business/millions-of-jobs-will-be-lost-as-world-sees-net-decrease-by-2027-wef-survey
[6:46 pm, 03/05/2023] +REACH: Dear Contributors,
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan ๐
[6:59 pm, 03/05/2023] +Smiley face: 1 May, 2023
"The Brave Ones! (ๅ่ ่!): Is the world ready for a bigger war? Is Asia ready for a shooting war? Are we ready and well prepared for the biggest competition of our lifetime?"
- - anonymity
Risks & Appetites?
Higher risk means an expectation of a higher return; low risk doesn't necessarily means a safer returns!
Location, Location and Location?
Arguably, in the game of property, Location is THE premium! Buyers and sellers strictly abide by their decisions based on this L!
Nearer to your heart?
Location can mean a community facilities and amenities against the larger geography of the civic center or CBD, with the proximity playing a key in valuation of any type of properties.
Take SG as an example, the competing country (as a further geographical location), cities like NYC or London have different attributes from demography, sociography, economies to politics when measuring the value of each entity, this case is a specific piece of property from an apartment, a commercial property, to a piece of land. And distance between two cities or countries can also mean location too!
Further the distance?
Comparative competitiveness of nations say G20 can also be another key consideration when valuing any asset class. For instance, there are many speculations and talking about the foreign investments pulling out of china due to the current uncertainties in global politics!
Is it true to believe that most or half of these foreign established businesses from consumers retail to manufacturing will roll down their shutters and flee out of China in god's speed? Yes, latest is the Korean cosmetics that decided to quit and out of China, and why in such a hurry?
As at today, more than 20% of these FDI have decided to quit China forgoing one of their major sources of revenue, that's China dynamic domestic markets!
So what about the 80% of FDI, are they on their way out too or perhaps they have alternate plans and stay on for a while more or some countries are investing by the billions?
Yes, simply to say, China though it's demography is looking more greyish going into the 2030s. However, there are chances and more opportunities to prosper and progress if not by quitting sooner than later!
No, for those who strongly believed that the China Dreams are over and done! They will quit soonest and leave China in pursuing elsewhere for productivity and prosperity!
Can we see that in these two paradigms, one commonality is the appetites for risk and different foresights; people to people, that's what the old saying said, "different folks, different strokes!"; is that's all or more reasons to it?
Common sense applies! Perhaps, in every kind of investments, there is a need to divest one's exposures to the unknowns whether is an economic risk or political risk or a localised risk or a combination of many risks and benefits!
One last word: "Just do not put all your eggs with the only chick and you shall be fine!" (Don't be too quick to sell the US$ away!)
Nothing is over untill it's all over!
https://www.reuters.com/article/china-markets-mideast-idUSL4N36G3FP
Singapore’s 60% property tax makes London, New York look cheap
https://www.businesstimes.com.sg/property/singapores-60-property-tax-makes-london-new-york-look-cheap
- - in progress - -
[7:07 pm, 03/05/2023] +REACH: Dear Contributors,
We will be closing the chat for today.
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan ๐
======
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