Tuesday, October 11, 2011

Occupy Wall Street - Paul Krugman

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2 comments:

  1. yujuanOctober 12, 2011 1:09 PM

    Sounds like the situation in Singapore as well, with our Govt leaning towards American style rogue capitalism at all costs, with a different twist, in America, this benefits the rich, but in Singapore all the benefits flow to the rich as well as to the highly paid Govt officials, the latter also wanting a share of the pie.
    If Paul Krugman did say Singapore is creating an illusion that is unsustainable, then we may end up like Dubai, who created a mirage out of barren desert sands, attracting many peoples from all over the world, bringing in skills and money, but later left disillusioned with no gold found, so Dubai has to keep on creating new illusions to attract other people to replace those who left, until the day the mirage bubble burst, with both migrants and money taking flight out of the country.
    Dubai is a very good mirror to look at for Singapore, both have no resources and have to rely on new migrants. Our Govt has to keep on inventing new creations and things, but running out of ideas, so they resort to building casinos to sustain the mirage bubble a bit further.
    One day all the true talents would leave our island, as reflecting in the Biomedical industry already.
    And with people and funds leaving, Dubai suffers a property bubble burst, with values deflating up to 70% in some areas. Would it happen in Singapore, keep what Krugman said about us, and keep Dubai in mind also. Prepare yourself a backdoor as insurance.

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  2. SimplyTerrorOctober 21, 2011 4:10 PM

    "If Paul Krugman did say Singapore is creating an illusion that is unsustainable"
    Where is the article did he say that?
    I think, being an avid reader of Krugman's blog (and being a econs PhD student) is that the problem for Singapore, amongst most liberal economists (that's almost all of them :) is not that Singapore's success is unsustainable, but why is it sustainable despite the 'soft authoritarianism' exhibited by the country's rulers. But that's a whole different kettle of fish from the previous commentator's "forecasts".

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