A lot of follow up comments are representing this as a forced bond purchase with subpar returns, without also considering that, it essentially forces folks who wouldn't otherwise save for retirement to do so (albeit at the government's definition of retirement age)
For those who know how to manage their money, this is absolutely a hit on potential returns. But for many who may not, this is net more than what they would have otherwise
Not sure if that's a fair judgement - It seems particularly endemic that it's almost a meme/stereotype in itself in Singapore; that all cab drivers are discontent with the government
Singapore is not a democracy. They have sham elections where the opposition party is only allowed to have media coverage by the single state run media channel for three weeks before the election. If your neighborhood votes for the opposition party you lose funding for things like public transportation. Lee Kuan Yew lives in a giant, gated, guarded compound in the middle of the most valuable real estate in the city.
Also criticizing the government is a crime and saying the wrong thing on facebook can land you in prison.
As always, the truth is somewhere in between what you say and what the government portrays. 38 Oxley Road was owned by the Lees since the 1940s, well before any of them came into power, and well before property prices in Singapore exploded to the level they have now. It is also a stretch to call it "giant" or the "most valuable" piece of real estate, when there are hundreds of bigger houses in the nation. The number of "guards" is also comparable to the state leaders of any other European country, and certainly pales in comparison to the US or some dictatorial nations.
There is some bias in state media coverage, but that is fast becoming irrelevant when the main source of news for people nowadays is social media. Criticizing the government is not a crime, and people regularly do it - one only has to go to the Facebook comments section of the state newspaper to take a look. Making a factually false statement and then gaining significant fame could get a lawsuit filed against you - so tread lightly when making big claims that you have no proof for.
Specifically the opposition candidates get limited time three weeks out from an election. Saying that people are getting more news from the internet is not 'the truth being somewhere in the middle'. Temasek Holdings controls the news paper (which also has a web site) the single local TV channel, the telecoms and the banks. https://en.wikipedia.org/wiki/Temasek_Holdings
yeah... I used to walk in front of that house when I went to school every day. There's like two dudes with guns, and there is a tiny booth of a guard post. My workplace has more security than that.
The current president tried to continue living in her HDB (public housing) after taking office but gave up on advice of security and complaints from neighbours about said security.
For those who know how to manage their money, this is absolutely a hit on potential returns. But for many who may not, this is net more than what they would have otherwise