Singapore's Avaricious Oligarchy: THE STORY OF SINGAPORE¡¯S DESPICABLE BUT DESPERATE RULING TOP 1%

Singapore's Avaricious Oligarchy: THE STORY OF SINGAPORE¡¯S DESPICABLE BUT DESPERATE RULING TOP 1%

English | 8 July 2016 | ISBN: 153518275X | 88 Pages | AZW3 | 271.99 KB


Singapore's Avaricious Oligarchy is about the Singapore that is hidden from you. The Singapore that you will have heard of, with its boasts of prosperity and reputation for the ease of doing business and skyline, has a dark side hidden below the gloss. The city-state has a higher level of inequality than any country in the West, mainland China and Japan. The top 1% takes the wealth, while those in the bottom 99% do little more than survive. It is a dictatorship, a police state and an oligarchy. This is the story of the dark side of Singapore. Eighty-five percent of Singaporeans live in government housing, housing that they are forced to buy using compulsory contributions to a retirement fund. The mean family income is US$4,936 per month, an income which usually must provide for three generations, however, the very few large earners take millions of dollars each year. Singapore is one of the most expensive cities on the globe. The prime minister, an individual who was enterprising enough to inherit his job from his father earns S$2.2 million as prime minister and another S$2 million from other appointed posts, more than 6 to 8 times the income of the US President and the political leaders of the European Union, Japan, Canada, Australia and New Zealand. Yet, Singapore is a country with only five million inhabitants. It is a city, a small city. The European leaders and the US President have real jobs. The Singaporean PM does not. Singapore is ruled, like Vietnam, China, Cuba and North Korea by a single political party, the People's Action Party. The salaries of its politicians and senior officers are tied to the salaries of Singapore's business elite. The judiciary is appointed by politicians, as are the senior officers of a number of its institutions, including its central bank, the Monetary Authority of Singapore, its investment organizations, Temasek and the GIC, sovereign wealth funds, and a number of news, communications and land owning institutions. Control is the order of the day. Singapore is a political oligarchy, which claims to be precisely what it is not, a meritocracy. The only beneficiaries are the Lee clan and its lackeys, the People's Action Party, the only party to have governed Singapore, and the business community that keeps them in power. Singapore controls the press, restricts freedom of speech, ignores human rights, and promulgates its own version of its history, a story that eschews reality.

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