atans1

PMI Index- Heading south

In Economy on 17/10/2018 at 6:59 am
Like many other exporters.
PAP govt that exceptional meh?
S’pore as an open economy is buffeted by global forces our millionaire ministers can do nothing about. When global conditions are good, they claim that they deserve their millions. But when global conditions are not good, they say “Don’t blame us. S’pore open economy leh.”
I have no issue with obscene payouts (unlike do-good retired bankers like Chris K and his ex-TRE pals) because I was an equities broker and arbitrageur and my pay was linked to the commissions and arbitrage income I brought in. But when times were bad, I couldn’t say like a minister can, “Cannot cut my pay. Global conditions are bad.Not my fault.”
  1. I’ve always said that the issue is more to do with the moral hazard of ownself pay ownself with little oversight, in a monopolistic setup with huge information & legislative asymmetry between the top mgmt and consumers/employees.

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