COVID-19: Retrenchments

[Jamesc]

53 minutes ago, Volvobrick said:

Jamesc should be the finance minister - our gahmen got it all wrong all along! They cut ministars and civil service's salary and no bonus, now this group will feel poor and cut their spending, leading to more economic contractions. Jamesc would have increased their salaries and given lots of bonuses so they feel rich and spend more to save the rest of us. 

And receiving $46 per week won't make one feel rich and go out to spend the $46.  Jamesc probably would give all the 93 Bn to me, make me feel so rich I would spend 92 Bn in the local economy (can't go overseas, remember?), generating 92 bn GDP, instead of the miserly 23 bn the gahmen expects from it lousy actions. 

I think I would have to get fellow MCFers to help me spend too. So tough to spend so much to save Singapore.

Ps. No wonder the party vote share dropped so much. Wrong policies. 

 

 

Love your post. 

[Porker]

21 hours ago, Jamesc said:

Please support Yewheng as Financial Minister.

He knows how to run the economy better than anyone else.

The Australian Femdom Party

Pardon him James. He really wanted to study Economics at Harvard and be a luminary like Nouriel Roubini but the best he can do is teach at Mycarforum and quote Peter Schiff

[mersaylee]

14 minutes ago, Porker said:

Pardon him James. He really wanted to study Economics at Harvard and be a luminary like Nouriel Roubini but the best he can do is teach at Mycarforum and quote Peter Schiff

Where’s that PS these days?

pangsai? Kekeke 

[Jamesc]

You are absolutely right.

Because no Free Market lah.

I went to Tiong Baru market, Ang Mo Kio and Bedok market to do Onsite survey.

and all the stalls tell me Rental very high.

How to save for a rainy day?

1 hour ago, Yewheng said:

Originally if businesses save for rainy days and no government intervention, then this will not happen. 

 

There is trade off ba. Like if we compare this covid-19 to Spanish flu. Herd immunity or not? If herd immunity = a lot more people would had died or no herd immunity a lot less people would had died but at economic cost. That brings the 2nd point of saving for rainy days. How levered up businesses is will also affect businesses to survive.

 

If businesses are levered up and not saving as much for rainy days. The question is why? Maybe it's businesses bad decision, or maybe it could also be government involvement that led to businesses unable to save as much as they wanted or maybe it is also sky rocketing rental that is the cost. Maybe it is all of the combination. If we could remove the one that can be easily done like remove as much need for government intervention as much as possible way before covid-19, perhaps now this covid-19 outbreak and government interfere due to it cost people life. Then perhaps many businesses might be in better position to survive this with some government support like reducing rental and etc? Rental cost is always a big issue. Why? Who set the target land price? Market or the government decide okay I am targeting this set price, if anything lower, we will not go ahead or sort of? 

An example.. Look at this article.. So who set the land price bidding? Bidder or government? Haiz.. 

https://www.straitstimes.com/singapore/offer-price-too-low-bid-for-dementia-village-rejected

 

[Sdf4786k]

On 7/20/2020 at 10:01 AM, Yewheng said:

Like that gg.. The world will become even more imbalance. 

what IF no one knows the true value of the "dollar" and if one were to react like george soros and short the ringette, the world economy would collapse.

So print enough that can not compute the dollar and everyone continue in bliss?

Because, when the music stops. those who were prudence will be upset. 

Those who enjoyed the abundance will also be upset, just that less upset as they have a taste of the good life.

And those who are just watching on the side wondering what has gone wrong will be in  distraught 

So printing money like kicking the can down the road can be a good thing till someone else picks up the can and call it rubbish . Else someone recycle the can and make good use of it.

[Jamesc]

5 minutes ago, Porker said:

Pardon him James. He really wanted to study Economics at Harvard and be a luminary like Nouriel Roubini but the best he can do is teach at Mycarforum and quote Peter Schiff

Haha must teach him to quote Adam Schiff my hero.

[noobcarbuyer]

Which economic theory (Keynesian vs Austrian) will write me a cheque for my S$23,225? 

Whichever can do so, i will support. 🤣

[mersaylee]

17 minutes ago, noobcarbuyer said:

Which economic theory (Keynesian vs Austrian) will write me a cheque for my S$23,225? 

Whichever can do so, i will support. 🤣

Jamesconomic theory is better...Free Free Free!!! no blank cheque one

[CYHew]

Usually the country would use a combination of monetary policy (through interest rates) and fiscal policy (govt taxes/expenditures) to stimulate the economy.  Of course, in severe condition, the govt may resort to Quantitative Easing (QE) to inject liquidity and funding into the economy.

[Yewheng]

35 minutes ago, CYHew said:

Usually the country would use a combination of monetary policy (through interest rates) and fiscal policy (govt taxes/expenditures) to stimulate the economy.  Of course, in severe condition, the govt may resort to Quantitative Easing (QE) to inject liquidity and funding into the economy.

Priting money does not solve the problem. It only delay the problem and make it bigger for future generation to solve. Like QE, does it really solve the real economic problem? Look at housing bubble, stock market bubble? 

[Angcheek]

Every dollar printed is a debt . 

😄🍻🍻🍻 hard to understand but thats reality 

[CYHew]

37 minutes ago, Yewheng said:

Priting money does not solve the problem. It only delay the problem and make it bigger for future generation to solve. Like QE, does it really solve the real economic problem? Look at housing bubble, stock market bubble? 

Can't disagree with you.

But if every country is actually doing this, then the world scale remains in balance. Printing money is a last resort to provide a stop-gap solution for extreme situation, with the central bank taking recovery measures to "redeem" the excess money at a later stage when economy revives.  This happened in 2008/2009 global financial crisis.

[Jamesc]

2 hours ago, Porker said:

Pardon him James. He really wanted to study Economics at Harvard and be a luminary like Nouriel Roubini but the best he can do is teach at Mycarforum and quote Peter Schiff

Once we open the minds of people

MSM Maddog Shouting Media can never close it again.

[Lethalstrike]

3 hours ago, noobcarbuyer said:

Which economic theory (Keynesian vs Austrian) will write me a cheque for my S$23,225? 

Whichever can do so, i will support. 🤣

Give me $23k now. I will vote to give whoever gave me that a blank cheque for the next 5 years 😁

Else, to the Ms Tin who said this, go back to your MacPherson and continue to be a good MP. 

[Icedbs]

Hey guys, can we stick to retrenchment stuff so that anyone who is retrench can find meaningful info here?  Imagine he read through last few pages and all he finds are discussion on economics. 😀

[Yewheng]

Rws retrench 3k workers.. Don't know how many people will get retrench at mbs. Hope for the best.. 

 

Recently taxi queue is back very long. There is a brief period of time where start of phase 2, taxi queue shorten.. Then now back to quite long queue for taxi. Look like a lot of people start to tighten the wallet lao.. 

Edited July 22, 2020 by Yewheng

[Kyrios]

23 minutes ago, Yewheng said:

Rws retrench 3k workers.. Don't know how many people will get retrench at mbs. Hope for the best.. 

 

Recently taxi queue is back very long. There is a brief period of time where start of phase 2, taxi queue shorten.. Then now back to quite long queue for taxi. Look like a lot of people start to tighten the wallet lao.. 

Now jobs will be a rare commodity. If there is ever a time the ruling gahmen needs to blow a timeout whistle on its shitca or FT policy, now will be it.

[Yewheng]

2 minutes ago, Kyrios said:

Now jobs will be a rare commodity. If there is ever a time the ruling gahmen needs to blow a timeout whistle on its shitca or FT policy, now will be it.

Before these companies that are going to retrench a lot of workers will need to inform mom 1st right? So before the retrenchment exercise, those companies would had some email exchange or what and ntuc trade union will also join in and discuss to save as many jobs for Singaporeans as much as possible. So yeah, FT might be the 1st to go. 

 

I remember someone share here in MCF that singapore bring in FT is to create job for us singaporeans, now economy is bad, they are the 1st to go.