Parliament debate 2020/2021

[Yewheng]

Just now, Fitvip said:

Only in principle. See how long it takes to implementation!

So what does it mean? 

[Fitvip]

5 minutes ago, Yewheng said:

So what does it mean? 

It is as plain as that!

[Staff69]

 

1 hour ago, Yewheng said:

So what does it mean? 

 

 

 

all here as my witness , if they implement live streaming of debate, i chop radx ku ku jiao off😝

Edited September 4, 2020 by Staff69

[Windwaver]

2 hours ago, Fitvip said:

Only in principle. See how long it takes to implementation!

5 years loh 

[mersaylee]

5 minutes ago, Windwaver said:

5 years loh 

Do you mean change garment faster than change status quo? 

[Windwaver]

1 hour ago, mersaylee said:

Do you mean change garment faster than change status quo? 

Depends if it's advantageous to them or not loh.

 

[Jamesc]

8 hours ago, Yewheng said:

But change also need to be very careful.. Ask ourself, do we want to go into downward spiral of socialist approach policies? Why I say downward spiral is because it is because of socialist approach that cause so many economic and social problem all around the world. 

Which Socialist policies cause economic and social problem all around the world?

You don't like HDB?

You don't like CPF?

You don't like Medicare?

You don't like Government schools?

You don't like your Vaccinations?

You don't like SBS? SMRT?

Trump also don't like Socialist policies

so you like Trump policies?

Which Trump policies you like?

[Wt_know]

bolehland parliament session = live stream, right?

Edited September 4, 2020 by Wt_know

[Jamesc]

8 hours ago, Yewheng said:

But change also need to be very careful.. Ask ourself, do we want to go into downward spiral of socialist approach policies? Why I say downward spiral is because it is because of socialist approach that cause so many economic and social problem all around the world. 

All the people that got Covid didn't need to pay for their treatment.

This is Socialism.

Are you saying all of them should pay for their hospital bills?

How about the migrant workers?

They should also pay for the medical treatment?

[Albeniz]

There was this floating question in internet on CECA and also why NUS/NTU  being world top universities can't produce graduates of the required skillsets  to fill the vacancies.

I think all Singaporeans should just  go to get Indian degree for a few thousand dollars and save our trouble to go Singapore tertiary education here.

Less headache also.

Edited September 4, 2020 by Albeniz

[Yewheng]

https://m.youtube.com/watch?feature=share&v=6e_8H7E3cTo

 

If you guys watch jamus lim yesterday in paiment debate, it is clear his school of thought is kenysen economics study. This YouTube video explained the difference between austrian economics vs mainstream economics, and why we should be worried about our future. It is precisely there are more and more people studying mainstream economics and cause all the economic problems. 

[Jamesc]

1 hour ago, Yewheng said:

https://m.youtube.com/watch?feature=share&v=6e_8H7E3cTo

 

If you guys watch jamus lim yesterday in paiment debate, it is clear his school of thought is kenysen economics study. This YouTube video explained the difference between austrian economics vs mainstream economics, and why we should be worried about our future. It is precisely there are more and more people studying mainstream economics and cause all the economic problems. 

Aiyah I teach you many times already.

Austrian economics and you are the only person that calls its Austrian economics is Moneterism or Classical economics or Neo classical economics.

Classical economics failed and so they re named it Neo classical economics and when that failed they renamed it Moneterism from Professor Milton Friedman of the University of Chicago. 

The failure of Classical economics is basic psychology. In a recession the gov lowers interest rates to almost zero thinking if money is so cheap entrepreneurs will borrow lots of money because its cheap to build factories and thus create lots of jobs.

The basic failure is this - no matter how cheap borrowing money is - a businessman will not borrow money no matter how cheap to build factories and create jobs IF they THINK people will not buy their product.

Now in a recession people don't have money and if they don't have money they are not going to buy things. The only thing they will buy is food.

So how to get the economy going in a recession? Government and consumers NEED to spend money. Government can build more schools, roads, hospitals etc and that creates jobs and when people have jobs they will spend the new income they get and their spending will be income to other people and sales and revenue to other companies.

Or the government can give everyone say an extra $20 every week. Everyone gets more money and we will spend it. Go for a haircut or take take the kids to Macs or for ice cream and that more sales and income to the barber, macs or the ice cream shop owner.

These people get more money and they will spend it and that's income to other companies and other people.

Every one spending more means increase economic activity and a booming economy. That means more good jobs and the country huat.

Just playing with interest rates does not and cannot pull us out from a recession.

Monetary policy need fiscal policy and fiscal policy is government and consumer spending.

Plain and simple why Monetary policy on its own cannot revive a stalling economy.

Keynesian economics which you keep criticising is just like driving a car.

So fitting for a car forum.

When the economy is slowing down is like a car slowing down and need to press the accelerator. That's government pumping money into the economy.

When too much economic activity like a car going too fast need to brake and that''s the government increasing interest rates to cool the economy from inflation.  

Edited September 4, 2020 by Jamesc

[Thaiyotakamli]

1 hour ago, Albeniz said:

There was this floating question in internet on CECA and also why NUS/NTU  being world top universities can't produce graduates of the required skillsets  to fill the vacancies.

I think all Singaporeans should just  go to get Indian degree for a few thousand dollars and save our trouble to go Singapore tertiary education here.

Less headache also.

According to pap ib

 

[Jamesc]

1 hour ago, Yewheng said:

https://m.youtube.com/watch?feature=share&v=6e_8H7E3cTo

 

If you guys watch jamus lim yesterday in paiment debate, it is clear his school of thought is kenysen economics study. This YouTube video explained the difference between austrian economics vs mainstream economics, and why we should be worried about our future. It is precisely there are more and more people studying mainstream economics and cause all the economic problems. 

Now Monetary policy (interest rates) and Fiscal policy (gov spending and taxation) are like left hand and right hand.

Only a fool will tell you only use one hand and one hand is always good and the other hand is always bad.

Keynesian economics that Yew Heng always criticises is by John Maynard Keynes - my hero says use both Monetary policy and Fiscal policy.

During high inflation Keynes says the best way to control inflation is put interest rates up to cool the overheating economy.

During a recession low interest rates help but only to a certain extent. Beyond that need fiscal policy - gov spending and reducing tax.

The dumb Monetarists on the other hand say only use interest rates for every kind of problem. Solve every problem in the world by putting up or putting down interest rates.

That's like fighting with one hand tied behind your back.

This is why they keep rebranding Classical economics with new names. Neo classical and Monetarism and now Austrian economics.

Notice they never change the name of Keynesian economics. There is no Neo Keynesian economics, no New Modern Keynesian economics.

Its always just Keynesian economics because it uses ALL the tools economics has.

Monetarists only uses one tool - the hammer and because they only use one tool, every problem to them looks like a nail.

And every problem they want to use interest rates to hammer it.

 

[Albeniz]

4 hours ago, Jamesc said:

Now Monetary policy (interest rates) and Fiscal policy (gov spending and taxation) are like left hand and right hand.

Only a fool will tell you only use one hand and one hand is always good and the other hand is always bad.

Keynesian economics that Yew Heng always criticises is by John Maynard Keynes - my hero says use both Monetary policy and Fiscal policy.

During high inflation Keynes says the best way to control inflation is put interest rates up to cool the overheating economy.

During a recession low interest rates help but only to a certain extent. Beyond that need fiscal policy - gov spending and reducing tax.

The dumb Monetarists on the other hand say only use interest rates for every kind of problem. Solve every problem in the world by putting up or putting down interest rates.

That's like fighting with one hand tied behind your back.

This is why they keep rebranding Classical economics with new names. Neo classical and Monetarism and now Austrian economics.

Notice they never change the name of Keynesian economics. There is no Neo Keynesian economics, no New Modern Keynesian economics.

Its always just Keynesian economics because it uses ALL the tools economics has.

Monetarists only uses one tool - the hammer and because they only use one tool, every problem to them looks like a nail.

And every problem they want to use interest rates to hammer it.

 

You have got ink!

[Yewheng]

End of the day if you watch the YouTube austrian economics vs mainstream economics. Mainstream economics is catorised of kenysan, Chicago and etc.. These economics theory's all uses data to prove the point and predict the future. You go watch the whole YouTube and understand la.. Lazy to type already. Everything is in the YouTube on the explainion. End of the day this is what it is. Can only say we are now in a very dangerous situation of going to a downward spiral if majority of the people can't see the difference between each of the difference of economic theories and what it actually mean. 

[Kopites]

6 hours ago, Jamesc said:

Now Monetary policy (interest rates) and Fiscal policy (gov spending and taxation) are like left hand and right hand.

Only a fool will tell you only use one hand and one hand is always good and the other hand is always bad.

Keynesian economics that Yew Heng always criticises is by John Maynard Keynes - my hero says use both Monetary policy and Fiscal policy.

During high inflation Keynes says the best way to control inflation is put interest rates up to cool the overheating economy.

During a recession low interest rates help but only to a certain extent. Beyond that need fiscal policy - gov spending and reducing tax.

The dumb Monetarists on the other hand say only use interest rates for every kind of problem. Solve every problem in the world by putting up or putting down interest rates.

That's like fighting with one hand tied behind your back.

This is why they keep rebranding Classical economics with new names. Neo classical and Monetarism and now Austrian economics.

Notice they never change the name of Keynesian economics. There is no Neo Keynesian economics, no New Modern Keynesian economics.

Its always just Keynesian economics because it uses ALL the tools economics has.

Monetarists only uses one tool - the hammer and because they only use one tool, every problem to them looks like a nail.

And every problem they want to use interest rates to hammer it.

 

Two words to sum up.

Belief and adaptability.

🤭

[Kopites]

1 hour ago, Yewheng said:

 

Can only say we are now in a very dangerous situation of going to a downward spiral if majority of the people can't see the difference between each of the difference of economic theories and what it actually mean. 

 

There are no one theory rule all nor one key unlock all lock.

I am not economist. 🤭