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Singapore could face another round of inflation if firms raise wages

Okay, this is really good. In fact, it is so good that after seeing the headlines from The Straits Times this morning, I had to seriously take a closer look!

Our minister has warned against an increase in wages by firms in Singapore! Bravo to that, I say! Fantastic reasons like ‘short-term measures’ are not prudent, that this will reduce Singapore’s competitive advantage, that this may lead to another round of inflation in Singapore is just so damn good to hear.

I agree to this angle of argument. Common sense, really, but I guess the people need to be constantly reminded that we have no choice but to tighten our belts in the short-term.

(I hope everyone accepts this and none of my staff come and ask for a raise.)

Here comes the good part. It wasn’t too long ago that this same group of people argued to justify increasing their own salary. I believe it was sometime in April 2007. About a year ago.

I find it pretty ironic that they argued that Singapore need to be competitive, so we need to pay our ministers a ‘competitive’ salary!

Actually, I also agree to that! But what conclusion can we, the peasants draw here?

Ministers must have high pay while peasants must have low pay in order for Singapore to maintain its competitive advantage issit?

I’m afraid the message us commoners are getting from the top is pretty bleak.

I can’t help but remember our governing party’s campaign slogan back it 2006. It was “Staying Together, Moving Ahead”. Cynics in the streets were mumbling “Yah! We stay here together, but you move ahead.”

I think we are proving the cynics right.

Let’s end this post on a lighter note with this you-tube video I found…


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