Wednesday, May 02, 2018

TOTD- No Quick Simple Fix for Asset Enhancement Scam

Thought of the Day - No Quick Simple Fix for Asset Enhancement Scam

There are quite a number of people trying to offer quick fixes to the HDB Time Bomb without understanding ALL the problems and BAD impact created by the Asset Enhancement Scam which ultimately linked HDB to CPF, retirement financing.

It is a complex problem which involves multiple dimensions with complex tensions and competing needs. PAP's mistake in its Asset Enhancement Scam has pushed every Singaporeans in HDB towards a narrow dead end which entangles everything in a massive mess.

The fundamental problem of Asset Enhancement Scam is that PAP had changed Singaporeans' mindset and perception towards public housing, HDB. Instead of viewing HDB as a pure consumption commodity which serves as a mere safe roof over our heads, PAP had evoked the Greed factor by treating such basic needs of housing into some Grand Scam of treating it as an "Investment Asset" and releasing huge liquidity of FORCED retirement savings from CPF into HDB.

This created a "self-fulfilling prophecy" that your HDB will increase in price and value which was merely a short term phenomenon rather than a REAL high quality long term investment return. The excess liquidity forcefully released via CPF has created inflationary impact on HDB prices that created that delusion.

Furthermore, it has also transformed our CPF retirement financing model from "Self-sufficiency" towards "Cross-Generation Funding" via the inflation of HDB prices which CPF funds were poured into. i.e. our children, grand children and future generations will be the ones who will suffer and indirectly become the ones who financed the retirement finances of the older generations/our generation due to higher HDB prices!

However, such inflationary path of HDB cannot be sustainable due to the very nature that IT IS STILL PUBLIC Housing in essence and HDB dwellers DO NOT OWN the land at all. The eventual ZERO valuation of HDB flats while they approach their end of lease is INEVITABLE.

This will create a great silver tsunami that would overwhelm Singaporeans.

They must face the reality that PAP has scammed and fooled them into believing something that will never work nor come true.

I will provide a multi-prone approach solution to this mess in time to come. But this will come with a cost to most Singaporeans and please remember, such second best solution will have huge cost and PAP should be made responsible to it politically.

Goh Meng Seng

10 comments:

Anonymous said...

I will provide a multi-prone approach solution to this mess in time to come.
Goh Meng Seng

Oh please, pray tell how to put into practice to realize your solution to this mess, however good and multi-prone that may be, if you yourself and team could not even secure a decent percent of votes, let alone your party win enough seats to form the govt?

Anonymous said...

Technician sues Temasek-owned PSA Corporation for exposing him to asbestos that caused lung cancer
April 30, 2018



Kusu Island's beaches and lagoons closed to public after asbestos discovered. May 4, 2018.

Anonymous said...

Yippeee now our ex and current prime minister veri young.

Anonymous said...

Old Crooked Bridge.....Clob Shares......and threatening To Cut our Water is back.

Anonymous said...

We need not have to bottle up what "FICKLE" said or do to us. He made bad choices when blinded by anger.
The best way to get even is by putting up 9 hands with 5 fingers high and bright enough for the superior PM to be see on our side on our land facing them.
At when anytime he unleashes his fury on us, all needed was a press on a button and the middle finger will automatically jump up on all 9 hands. Human energy saved.

Anonymous said...

Causeway?

Anonymous said...

Murder of Shaariibuugiin Altantuyaa- Come back and haunt them.

Anonymous said...

See his true nature

Beyond his body and vulnerability,

There is an openness and authenticity,

Who doesn't make a mistake once in a while,

If you could learn how to look after yourself,

And come back when you are 92.

Anonymous said...

Those who are expecting additional measures to dampen the private property prices could you kindly have the patience till we sell almost all our Government Land Sales at high record prices.

Anonymous said...

The media actively shape public attention and categories of thoughts which speculative events we see are played out.