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Originally Posted by TinyRedLeaf
Yet we have jokers who claim that Singapore should just ditch its manufacturing sector and focus on services to achieve "sustainable growth". When it comes to reality, some people are more out of synch than others.
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Unfortunately those jokers seem to be in the positions of power...<_<
Quote:
The problem with finance and services from a macroeconomic POV, according to self-employed traders/investors, is that it creates no material value, it is simply a process of wealth transfer. Wealth as it is defined in material goods and services, money is simply a medium for it to change hands upon.
As for the construction sector, it has always been a big problem because nobody in the equation wants to lose money building homes. The government, technically, lost billions they never got back since constructing the first flats at Queenstown post Bukit Ho Swee. If the HDB is a private organisation, it would be as deep in debt as Bear Stearns.
They need to wise up and tell themselves that they can never get that money back, and move on.
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I knew that without being a self-employed economist or even someone who specializes in economics at all....it's quite plain =.=
As for the other bit...you know if this were some other country outside SEA, I'd be thanking SAF for training me in the use of earthmover equipment so I could at worst, still earn a decent living as a machine operator. Here....I'd think I'd make bigger cash working as a book arranger in Kino...