The Show with PJ Thum - Ep 6 - Singapore's Dependence on Foreign Funding and our Economic Quandary 

PJ is being a hypocrite and you don't realise it. He has an "elite" education (paying to use Oxford library and not a graduate), and will be lording over citizens if Opposition gets voted in. What makes you think you will be given privileges in his world? Furthermore, he is the one living in private property, driving luxury car, in fine clothes, earning high wages from telling lies on RU-vid and other social media. You don't think PJ is the hypocrite? And you are the stupid fool swallowing his fearmongering?

Thank you! Glad you are enjoying the videos. - PJ

@@NewNaratif Glad that you also know how to ignore haters and keep going!

@@scbchong6964 Ok, the saline point u made that makes or breaks for a hypocrite is the following: 1.living in a private property, 2. driving luxury car, 3. wearing fine clothes 4. earning high wages 5. Telling lies (that you need to pt out what they are) The 1st 4 pts can really get you into serious trouble with our elected politicians. Man, you really have a serious chip on your shoulder on the elites who happened to run the country.

@@mindtwister1984 Don't be silly. Govt does not throw citizens in jail for owning private property, nice car, fine clothes or earning high salary. The issue is that citizens who are complaining and anti-PAP need to be less hypocrites. ie. blame govt for their unhappy hard life while quietly accepting all the subsidies and great lifestyle choices and freedom available. Also, don't you think you should give less credence to hypocrites like PJ Thum? He was a scholar and from elite family, the very attributes which Opposition supporters love to hate. Yet in your infatuation for a "anti-pap hero", you give him overblown credence. What rot.

History is a tool of gahmen propaganda under the national education program to brainwash students into voting them when they come of age.

What so great? Any Tom and Dick can talk about history. How about your solution towards a better future?

Thank you! - PJ

"you are the man whose time has come"... Are you so gullible to swallow PJ's deception, exaggerations and lies? Why never ask him about how citizens suffer from lack of choice, lack of freedom under nationalised economies? Do you have the stamina, and grit to seek work and live anywhere in the world? Citizens are free to do that. Citizens are free to invest in listed singapore companies, and citizens can work for any private or public sector organisations. Why PJ avoid to discuss the personal responsibility of citizens?

A "new perspective"? What PJ is asking for is singapore to nationalise all industry and turn to pure socialism. You will not have a choice in jobs, products or lifestyle. Easy for him to talk nonsense from his elite life with private home, luxury car and fine clothes and pseudo-elite education. Do you really think you will be given privileges if Opposition takes over govt?

Thank you, glad you like it! - PJ

@@scbchong6964 LMAO I actually wasted my time asking this guy to provide citations for his claims in an earlier post. Now seeing him continue the spam multiple times in just this one video alone. Wasting my time expecting logic from this moron sigh

@@RideTheTrack Just because someone attacks pap govt with lies does not mean you swallow what he is shovelling. Just because he pose as anti-pap does not mean he is more moral, more right. It only means you are more stupid for putting your trust in his rhetoric.

Are you mad? PJ is not "insightful". You want a closed economy and work in factory to produce everything? No choice, no quality, lowest wage? What makes you think you will be exempted and given privileges if Opposition becomes govt?

Thank you! Glad you like them. - PJ

If PJ is good and insightful, LHL would have inducted him long ago.

@@soonhengng1919 Hey Ma. Look a PAP supporter🤣

Lol a closed economy does not mean anything bad or good intrinsically. It is just a closed economy. A closed economy means greater social equality but less product choices (North Korea) while an open economy means greater inequality and more choices (South Korea). And why are you here all the time? An internet brigade hired by PAP to steal PJ's fans.

Thank you! - PJ

Thank you! - PJ

"comrade" PJ? Are you stupid? There is no freedom of speech nor action under communism for citizens. Are you insane or daft or both?

@@scbchong6964 Chill, dude. It's just a joke. Lighten up.

It's because New Naratif finally settled in KL after running into legal troubles in SG. Good for them, I like their content!

@@tusharsingh4543 Thank you! Please do join as a member if you haven't already!

​@@NewNaratif I'm a bit tight on cash atm, but I did buy your e-book from Amazon and am looking forward to reading it.

A better domestic industries and minimally dependent on foreign investment in the long run would enable a better welfare system for genuine cases. Currently, the social assistance payout is hardly sustainable for people with genuine cases.

Thank you! It's really important to give back to my country and my people who gave me so much, and I'm very conscious of my privilege. That's why I fight so hard for a better Singapore. - PJ

Given that Singapore would probably control the balance of power in a reunified Malaysia, and thus pretty much be in charge, why would we do that to ourselves? - PJ

Very true. We need wealth creators and not administrators in govt..

Nonsense. There are hundreds of listed companies for citizens to work in. Citizens can work and live locally and overseas too. If you are good, you would have created Grab or Razer by now. So plse stop the excuses looking to blame the govt. The ministers have already built the infrastructure and laws so that able and willing citizens can earn millions for themselves if they have the talent, the determination and grit. It is a case of personal ambition, determination and stamina, right? You vote in Opposition, and you get promoted overnight? Opposition will increase your salary? Opposition will make you more skilled and talented?

ivy kkb remember the next gen is not so lucky.

@@zhen86 look at China, if foreign investment leaves China due to China being too expensive, many people will be jobless. Singapore use this model for far too long. If foreign investment suddenly decided that Indonesia is the better place to invest, we will be doomed. CECA are able to take advantage of us because PAP needed the investment from the foreign investment. How many MNC is a Singapore company? 1 or 2? or 0? The only one I know of is failing and government hated the founder.

👍🏽

Do you have a job? What PJ is calling for is nationalising all industry and pure socialism which means you get no choice in jobs, products or lifestyle. Are you stupid?

@@scbchong6964 stop being a troll lmao what a waste of your time. either way, many of SG industries were nationalised such as the energy market and only recently 'let go' by the PAP. Nice try. CB must have given you so much time. Student or unemployed? 😂

@@nature.mallow1242 You are the one talking rubbish in your infatuation with looking for an anti-establishment "hero". PJ ain't the one. DBS listed decades ago. Shipyards were privatised or listed in the late 80s. SIA never nationalised. Utilities only recently because of critical nature. Citizens can buy shares in SBS and smrt and taxi companies. NTUC Fairprice hires willing and able citizens and foreigners at market rate wages. It was the stupid Opposition parties which continually want to privatise the armed forces. Overall citizens who are willing and able can apply for any public for private sector job. I think it is you who don't hold a job and dependent on Opposition to lift your unhappiness. So are you the one unwilling or unable? The real issue is poor-quality citizens like yourself, not anything wrong that the PAP has done.

​@@scbchong6964 I know u are extremely pro-PAP but hear this out: Facts drawn by newspaper are facts. Opinions from facts may differ. Thum might used extreme words and say almost nothing good about PAP *but the articles that he pointed out are still facts*. nature.mallow did not talk about anything about his stand and just said one fact about the energy market and u listed a bunch of semi-true opinions with ur own personal pov and u also brushed his/her point away just by saying "Utilities only recently because of critical nature." Is he/she supporting the opposition? I don't know. Is he/she jobless? I don't know. But there u here assuming his/her state of living and defining him/her as "poor-quality citizens" You must consider urself as "high-quality citizens" then. Saw ur previous post about Thum is being an "elite". How different are u from Thum when both of u are at the extremes? A productive debate comes by when both views are not biased. Since when Thum said nationalise *all* industries (put stampcode pls) and why pure socialism means " no choice in jobs, products or lifestyle."? Nazi Germany have tons of job for its citizens, have choice of lifestyle and various products sold, Soviet Union have them too. Heck, even in the current world, countries like China (even though not pure socialist or nationalist) have the similar types of jobs and in fact even more types than countries like the USA. A lot of people say people in China have no life, but if u been to China, people does the same thing as people in Singapore. What u had presented is a definitive statement and there will be alot of counters to that. Without substanitation and just blabbering your points out will bring no good to the discussion at all for Singapore's politics.

@@xmaslzq2892 Ask yourself why PJ needs to be deceptive and lie while trying to find fault with pap govt? Isn't he taking younger and less informed citizens for fools by exaggerating and lying? What is his agenda? Since you surely ascribe to freedom of speech and expression, you also have to accept responsible behaviour when making statements. I also have the right to point out PJ's deception. It is a fact that citizens can invest in listed singapore companies, and can work for any private or public sector company/organisation. They can even travel the world to find work. It is a fact that those singapore companies are listed. re: "Nazi Germany" "Soviet Union". You are a fool if you believe they operated like singapore open market economy. You are stupid if you think the citizens were enjoying life then, and sg citizens are worse off due to PJ's imagined evil pap govt. You really think citizens can work to produce high quality substitutes for all imports products and services? How good of a towkay are you?

Thanks for the comment. To answer your second point first, it's fundamentally a very emotive issue for older Singaporeans because it represents our savings from an entire lifetime of work. So imagine working your whole life, with your salary withheld by the government, only to be told as you reach retirement age that they won't give it all back to you. Older Singaporeans also easily remember a time when your CPF was given entirely back to you at retirement age. It's unfair for the goalposts to shift, especially just when you are reaching the end of your working life. For your question, though, I'm hesitant to go into detail about CPF because it is incredibly complicated. There are so many different schemes and plans and outcomes, not all of which are bad. It's difficult to explain easily. That's why I prefer to focus on the broader principles - lack of transparency, lack of accountability, lack of input into political decisions - rather than the minutiae. That's a neverending rabbit hole. I suppose I could talk about the broader history of the CPF in a future episode? Let me think about it. Thanks for the feedback!

PJ is being deceptive and lying. re: 'salary withheld by govt'. This is incorrect. All citizens also have their take home pay to save a portion of. How irresponsible to go through adult working life without saving and investing? re: 'won't give it all back to you'. Wrong. At 55 citizens can withdraw a large sum. They can choose how much to leave inside CPF to earn interest and then after 65, get paid a monthly sum until death. There is also your personal savings for you to use. re: 'unfair for goalposts to shift'. PJ demands that govt do not adapt to the world economy. That is unsustainable and robbing the future. Your generation. The CPF interest rates and the v.1 lumpsum withdrawal had to stop in the late 80s because citizens were less productive than their inflated wages. PJ is trying to avoid the discussion about how the younger generation of citizens like you will be broke, if the older generation had been allowed to enjoy unsustainable interest rates and lumpsum withdrawals. PJ is very hesitant to draw conclusion that it is mostly citizens' personal responsibility to adapt, and family/community obligation to have personal savings too. What is his agenda for trying to shame and embarrass PAP govt constantly?

@@scbchong6964 What Singapore need is a few big MNC like Creative to help make sure foreigner investment is not the only source of income. However, this model is not a quick fix, need many years to make sure the company can survive. Lets say 30% of the few thousand MNC HQ in Singapore is a Singapore company base in Singapore, we won't be needing so many cheap workers, no need to have such low tax on companies. The normal person is being TAX high, HDB is expensive for no reason(wtf land cost is added in?). Why do we need to keep upgrading to no ends? "Old" people in big MNCs are holding on to High paying jobs they don't deserve, asking solution from younger workers without mentoring them.

@@zhenhangwang7304 re: .....What Singapore need is a few big MNC like Creative to help make sure foreigner investment is not the only source of income...... Your comment show that you don't know much about economy or doing business. What about other sg companies such as SIA, DBS, ST Engineering, SembCorp, Keppel, SingTel, UOB, SMRT, ComfortDelgro, Venture, etc? Newer ones like Razer? The real issue is how many complainers like you bother to work for these companies. Are you able and willing to work for these, and use your talents and skillset to rise in the company? All the citizen taxi drivers talk so much but how many of them created Grab, or even joined their technology development team? How many have the smarts to be on the middle-management team? re: .....Lets say 30% of the few thousand MNC HQ in Singapore is a Singapore company base in Singapore, we won't be needing so many cheap workers, no need to have such low tax on companies. ..... You are wrong. Singapore citizens who are able and willing already fill available jobs that is why unemployment is so low. There are more jobs than able and willing workers. Companies want to set up in singapore and your Opposition suggest to limit their growth? They will tell you to fly kite now that SE asia and China general education levels have also risen. You thought solution so simple? And what about yourself and your other Opposition supporters. What is your talent and skillset level to be able to beat the competition? Even you kick out all foreigners, you still need to compete against the best citizens for the best jobs, right? re: .....The normal person is being TAX high, HDB is expensive for no reason(wtf land cost is added in?)..... Wrong. The average citizen pays very little income tax or property tax. GST is everyone pays and costs more if you have expensive lifestyle. As for HDB, the land cost includes the cost of getting the surrounding infrastructure to liveable, usuable state ie. roads, utilities, leisure spots, car parks, public transport, etc. Opposition govt builds only the standing HDB block in middle of jungle, you want to buy? re: .....Why do we need to keep upgrading to no ends?..... So you believe PJ when he promise you the soft option? Do you really think you vote in Opposition govt and suddenly average or mediocre workers will be promoted and paid higher wage? You vote in Opposition and suddenly better educated and more motivated citizens from china won't compete with you? Suddenly angmo boss in MNC will give you chance and promote you based on your handsome face? re: ....."Old" people in big MNCs are holding on to High paying jobs they don't deserve, asking solution from younger workers without mentoring them...... That's just an excuse. If you value the job, enjoy the work, you will find ways to excel and upgrade yourself. And rise to excellence. The PAP govt never stop you from starting your own business to service MNC in roles which you excel in, right? The issue is why Opposition supporters like yourself think that just voting in Opposition MP will solve your problem of lack of talent, skillset, motivation, stamina, grit, determination, patience, risktaking. You vote in Opposition MP, the chap already starts making 12k per month, while you will continue to grumble and complain about not being able to land a good job. For 4 years he earns 12k per month, while what have you achieved in the 4 years?

@@scbchong6964 The companies you listed most are GLC, owned by Temasek holdings. Most cannot survive without tax payer money. Razer is not even in SG. The land cost is not used to build Roads, utilities, leisure spots, car parks, public transport. Its not like I buy HDB I get free Carpark, free public transport, free utilities. Why last time land cost is not added in? Roads building cost comes from Tax Singaporean pays. Beside, why PR can buy HDB and why is it pledge to market price? unemployment is so low because they take PR/Singaporean as standard. Those that are unable to find Jobs within 6 months are taken away from stats. I vote in doing nothing PAP MP also earns 12k per month. At least I vote in Opposition MP, can make sure PAP have some fear. "Old" people in big MNCs that are good, I have no issue. But, there are far too many "old" people that belittle fresh grad, go home on time, not doing any value work, and earn lots more. Seen to many "Old" perm stuff that ask OSV to do work while onself chit chat with colleagues or disappear. They are not fired because of retracements benefits. Ask them for help they have tons of excuses. Many MNC is shifting out due to Singaporean becoming expensive. Its has been 50+ years, and we still holding on to foreigner investment model instate of relying on ourself? What if one day all investment go Indonesia? DBS, is hiring CECA and is of no benefit to normal Singaporean.

We needed Testers like PJ Thum to keep the System Clean. Do u want Another Dorm. with lots of Corona Virus Infections that caused the Lockdown of Singapore.

It is a necessity as it is a introduction to who he is (lest his adversary try to discredit him again) to those who don't know who PJ is just like any beginning of a movie. BTW, you have the freedom will to skip it.

Thanks! I did think about shortening it but a lot of people also seem to enjoy it as it is, so I just decided to leave it. - PJ

Censored

ybbolb whoever is voted in.

Hi, thanks for your comment. SMEs provide roughly similar shares of employment and output in developed countries. The question of whether they are a significant capitalist entrepreneurial class depends on how important and competitive they are in the global arena. Compare, for example, Taiwan, Japan, Korea, Scandinavia, etc. and their domestic capitalist class. Singapore's state-owned enterprises (or "GLCs" as we call them) are generally not successful enough to compete with this class. In some specific cases, like SIA or DBS or Sembcorp, yes; but overall, our local enterprises are too narrow, or bureaucratic, or outdated, or inefficient, to form significant industrial or economic capacity compared to the other countries above. - PJ

You have to keep in mind also I'm making a political economy argument (which is one general theme of my videos), and so it's also about the political consequences of the trade-offs that are inherent in our policies. So one question to ask, for example, might be, can Singapore's domestic capitalist class provide sufficient leverage to improve Singapore's negotiating position with international capital? - PJ

@@NewNaratif I am honoured to have elicited the longest response here. Two even. In your list above, our small domestic population places us less than half the size of the smallest administrative unit, i.e. Denmark. I struggle to imagine a Singapore able to negotiate on equal terms with international capital in the way you imagine. I cited the above GLCs because I see them as successful in their own right - telecomms, defence, oil rigs - here we are quite certainly playing amongst the big boys, which given our small population, makes us punch above our weight. These industries also typically require state backing in order to bargain. Since you appear to be inherently averse to government control, non-government entrepreneurial developments which place us on the map would include the likes of Far East Organisation, Wilmar, Grab, Razer (should I mention Hyflux, Creative?), You set a tough order to fulfill. Domestic, but cannot be related to establishment. We have a domestic cohort of ~40,000 live births per year. How large should the entrepreneurial class be, if the best have already been skimmed off by MOE before the age of 12? How should the non-entrepreneurial class be organised, since the number of local jobs created outpaces the birth-rate? I would also make a strong argument for pro-natalist policies. Everyone is interested in the economy, but no-one, government or personally, wants to put a wager on the Singaporean core.

@@NewNaratif PS: Merger doesnt work as long as monetary and fiscal policy do not align. Let's start with thinking through what merging the two pension systems would look like.

Notice how PJ exaggerates and lies to try to find fault with pap govt? He also needs to pin all blame on pap govt so that Opposition supporters don't reflect that it is their personal responsibility and family community obligation to make a good living. pap govt has always given them the infrastructure and the tools. For some reason, it is Opposition supporters who demand that they be spoonfed a good lifestyle by the Opposition. So the clowns like PJ have to demonise the pap govt and make those supporters dependent on the Opposition. Hooked on empty promises of a better tomorrow.

Lol youtube is an independent organisation. You can contact them. If they do shut it down, PJ would just be a martyr for free speech...