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


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...


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.

Anonymous said...

Allow a couple to take up a longer housing loan provided that a 30% down payment for deposit is justified. This will enable them to purchase a bigger home for kiddies and helpers with comfort - undilute their money for other expenses.

When the children are grown up they will purchase their own home -and move out or they can take over the mortgage.

When the children move out -the couple can than purchase a smaller unit and redeem the loan. Win win situation for couples and their children

Anonymous said...

No policy can be more successful than the accuracy of its assumptions-

(i) After the 8th cooling measures, it did not cure property prices. The 9th measure was needed. How many more this kind of repetition excuses in future. When will it ever end?

(ii) Trump had to do something different enabling the summit with Kim. All those previous presidents had the same mentality and it never worked.

(iii) If all they can do is hit everybody's pocket whenever property prices rise, it shows that they have very poor approach in solving matters.

(iv) We seriously need new blood to do things differently, people who have the ability to explore ways to balance price from increasing hastily and giving the people and developers a free hand to buy and sell.

(v)Life should not be live under so much constraints. We are not chess pieces.

Anonymous said...

After the 8th round over the years, and the property prices is still insisting goes from one end to another it is normally a symptom systematic problem in an organisation. The hunt should focus on what went wrong with the system that enabled this fault to occur so periodically. By looking at the system instead of just being met with a wall of political fog. Honest and trusting leaders will tend to stand up when the fault tend to begin with their own backyard associated with all their cock-ups.

Anonymous said...

It's fun! They are only pissing off the 20% greedy private dwellers. The rest of us are contented with our ECS. Why be jealous. We cannot control all the variables, learn to live with a panache and flair. By being envious of the greedy we are only adding another layer of misery in our lives.

Anonymous said...

I oso greedy wat. I waiting for gvt cool mesures on coe to drp one dollar so I swop my lau pok kye car to bmw. I still waiting. now can only lau nua. Nvr satisfied.

Anonymous said...

Piss off 20% to get votes from 80%.

Anonymous said...

There are only 24 hours in a day. Some just hold too many portfolios. Therefore some work needs to be delegated. The delegated person-s will just follow up and report back under their own terms and conditions. The leader than gave permission to act on a scenario on the only what was described to him or her. Miscommunication is a dangerous way of solving tasks.

Anonymous said...

Not following. Too much of their garbage to collect in our mind.

Anonymous said...

They think they know more about the people than they know about themselves.

How can we built Communism by doing away with individualism.

Can we plan a great building without having some swine forever wanting to build their sty on our private site?

Anonymous said...

Practice conformity but preach diversity.

Anonymous said...

A boss creates fear, a leader confidence. A boss fixes blame, a leader corrects mistakes. A

boss knows all, a leader asks questions. A boss makes work drudgery, a leader makes it

interesting. A boss is interested in himself or herself, a leader is interested in the


Russell H. Ewing

Anonymous said...

Not everybody will like us. It is their problem if we do not let it bother us.