COVID-19: Back to the Future Phase 2 (HA) 22July to 18Aug..

[Volvobrick]

10 hours ago, yishunite said:

Even the article say its still 0.9% lower than 2Q19, the last pre pandemic 2Q. After it grows higher than 2Q19 then we are back to level, and given 1-2% normal growth rate it needs to grow by 4-5% yoy next year to get back to Sg's usual standard of growth

And most of the growth is because of the 100 Bn govt spending on hotel stay, SDA, Cisco escort services.... A very long laundry list that is funded by the reserves. Take this away (eventually) how many will suddenly become unemployed and GDP will tank again. 

[Kopites]

10 minutes ago, Volvobrick said:

And most of the growth is because of the 100 Bn govt spending on hotel stay, SDA, Cisco escort services.... A very long laundry list that is funded by the reserves. Take this away (eventually) how many will suddenly become unemployed and GDP will tank again. 

The wages supplement, FW levy waiver, rental rebates etc these are the huge sum expenditures of the 100b plus covid-19 budgets. 

[Nolicense]

1 minute ago, Kopites said:

The wages supplement, FW levy waiver, rental rebates etc these are the huge sum expenditures of the 100b plus covid-19 budgets. 

gst up up up

[Weez911]

27 minutes ago, Volvobrick said:

And most of the growth is because of the 100 Bn govt spending on hotel stay, SDA, Cisco escort services.... A very long laundry list that is funded by the reserves. Take this away (eventually) how many will suddenly become unemployed and GDP will tank again. 

 

14 minutes ago, Kopites said:

The wages supplement, FW levy waiver, rental rebates etc these are the huge sum expenditures of the 100b plus covid-19 budgets. 

100bn was 2020 Q2. Now we are talking about the 14.3% growth in 2021 Q2. 1 year has passed.... don't mix up the 2 time periods.

[Volvobrick]

1 minute ago, Weez911 said:

 

100bn was 2020 Q2. Now we are talking about the 14.3% growth in 2021 Q2. 1 year has passed.... don't mix up the 2 time periods.

It wasn't all spent then. Don't you still see SDA, Hotel Stay for people on quarantine etc now? Just Becos a budget is approved today doesn't mean it gets spent 100% today.

[Weez911]

11 hours ago, yishunite said:

Even the article say its still 0.9% lower than 2Q19, the last pre pandemic 2Q. After it grows higher than 2Q19 then we are back to level, and given 1-2% normal growth rate it needs to grow by 4-5% yoy next year to get back to Sg's usual standard of growth

Which is a great result given there is zero tourism, air travel and hotel in 2021. If you exclude these industries 2021 Q2 has been great. You want to compare apple to apple.

Edited July 29, 2021 by Weez911

[Weez911]

1 minute ago, Volvobrick said:

It wasn't all spent then. Don't you still see SDA, Hotel Stay for people on quarantine etc now? Just Becos a budget is approved today doesn't mean it gets spent 100% today.

Makes no sense to spend the bulk of it 1 year later too. The 100bn main bulk was incurred in 2020. Otherwise there is no need for them to approve another 1.1bn for P2HA this time round.

[Weez911]

5 hours ago, Sdf4786k said:

It hinges on the definition.. if from pandemic u have herd immunisation n change to endemic

so  then it’s like the seasonal flu.. don’t need to lock down. Don’t need to wear mask..

I will go so far as to copy a phase .. don’t xia suay.. if not sick don’t wear mask.. 

but as I say I am an alarmists.. I see delta n delta plus .. u think I dare to take mask down meh …

but don’t open up also jiatlat.. people in the construction industry cannot get workers ..

on the bright side, the amount of oversupply of private property should have evaporated… 

Yes they can still import construction workers to build your BTO. This is under a separate arrangement. Don't worry.

And no, the current vaccine doesn't allow herd immunity to take place. Not I say one.

Edited July 29, 2021 by Weez911

[Volvobrick]

8 minutes ago, Weez911 said:

Makes no sense to spend the bulk of it 1 year later too. The 100bn main bulk was incurred in 2020. Otherwise there is no need for them to approve another 1.1bn for P2HA this time round.

I didn't say it is spent mostly now. 100bn is almost 25% of GDP. So technically it can offset a GDP contraction of 25% and we will end up with no GDP contraction. I don't know how it is spread, but I only say some of the "growth" is not attributed to recovery of normal commercial economic activities but govt spending from reserves. I only hope they don't spend more reserves to sustain this "growth" cos we will need to top it up with taxes eventually.

Digging up the road and covering it again for fun generates GDP and keeps people employed by the way, only someone got to pay for it from past savings.  Compare this with building a new expressway and motorists pay to use it for the next 30 years. 

 

Edited July 29, 2021 by Volvobrick

[inlinesix]

With CB 2020, it is not surprising that Q2 has positive GDP year on year.
Look at construction, almost 100% y.o.y. growth.

That’s where most of the imported cases lies.

What is worrying now is NEGATIVE quarter to quarter growth.

The negative quarter to quarter growth may continue into Q3

The table from MTI press release 

[Weez911]

31 minutes ago, Volvobrick said:

I didn't say it is spent mostly now. 100bn is almost 25% of GDP. So technically it can offset a GDP contraction of 25% and we will end up with no GDP contraction. I don't know how it is spread, but I only say some of the "growth" is not attributed to recovery of normal commercial economic activities but govt spending from reserves. I only hope they don't spend more reserves to sustain this "growth" cos we will need to top it up with taxes eventually.

Digging up the road and covering it again for fun generates GDP and keeps people employed by the way, only someone got to pay for it from past savings.  Compare this with building a new expressway and motorists pay to use it for the next 30 years. 

No leh in your previous post you said "most of the growth" - now you change to "some". What next? By the way I'm not the one who came up with the gdp figure. You govt did. I didn't have the chance to massage any numbers.

I totally don't get your para on capex but that's ok. I don't think will lead anywhere.... 

Edited July 29, 2021 by Weez911

[Didu]

On 7/28/2021 at 5:35 PM, Mustank said:

Gina don’t know some of these innocent looking Ah Lao could be some big shot one

who would know some no mask auntie is ship co

好言相劝而不听

haizzzz now sign extra

https://www.straitstimes.com/singapore/community/saf-commander-to-be-disciplined-for-removing-mask-while-addressing-recruits-in

[Voodooman]

9 hours ago, 13177 said:

I still dont understand during this covid period, it seems like quite many people and business got affected, no jobs or business closed down etc. And yet economy still growth and property price so high and COE also so high? And many people still spend a lot.

The rich are spending on luxury goods and cars, etc as they can't travel but the average man on the street?   As with any economic disruption, there are winners and there are losers. 

[Mustank]

9 hours ago, Voodooman said:

The rich are spending on luxury goods and cars, etc as they can't travel but the average man on the street?   As with any economic disruption, there are winners and there are losers. 

Everybody also wish they very rich can makan piak sleep everyday

 

[inlinesix]

This Youtuber Kenna QO.

Let guess where she was exposed to a confirmed case.

 

[Wt_know]

5 minutes ago, inlinesix said:

This Youtuber Kenna QO.

Let guess where she was exposed to a confirmed case.

 

i have friend + colleague + wife colleague ... at least 5-6 people kena QO

so many people kena QO these few weeks

[Mustank]

4 minutes ago, Wt_know said:

i have friend + colleague + wife colleague ... at least 5-6 people kena QO

so many people kena QO these few weeks

Donno why my app say no exposure

[inlinesix]

2 minutes ago, Mustank said:

Donno why my app say no exposure

You got go out meh