05 May '11, 12pm

[TR] Economic Suicide for Singapore if PAP voted in

What needs to be mentioned in this article too: 5. Excessive Liquidity leading to Income Gap In order to stimulate the economy to achieve growth and combat self-created problems at home, the MAS allowed banks to lower interest rates to near giveaway rates, thus discouraging saving, and causing people to invest in risky but high-return instruments. So we got exposed to the Lehman and other CDO failures. Property bubbles are now still super inflated in public, private and rental sectors. Overseas investors are still flocking here to buy up everything that can make money fast. Result: The people with the money to invest, get richer. The poor are none-the-wiser — in fact, they become haplessly caught in the crossfire. Some who scrounge up money to take the risk, ultimately lost money even, because they didn’t have the other network resources that the rich have to buffer risks....

Full article: http://www.temasekreview.com/2011/05/05/economic-suicide-...

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