Lee Kuan Yew once again sounds less than reassuring, but at least he reminds Singaporeans that they can thank him for where they are today. Straits Times:

“Singaporeans and their government are not in panic,’ he said. ‘We have got the wherewithal to survive this recession, even if it goes on for several years.”

“Singaporeans need not despair or be depressed. We will have to endure some hardship but nobody will be destitute depending on soup kitchens or begging in the streets,” he said.

“Your parents and grandparents generations had hard lives in shanty huts with no running water or modern WC, not knowing what the future could bring. They simply concentrated on hard work and built the foundation for the Singapore of the 21st century,” he said.

“Your generation can take Singapore forward to become one of Asia’s most vibrant and beautiful cities.”

He added: “The success of Singapore came from the hard work, resourcefulness and ingenuity of your forefathers and their leaders. You are the descendants of these lion-hearted pioneers.”

Full text of speech also available (PDF).