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8/04/2009
The Singapore Neverland
Singapore is in a way like Michael Jackson, too much money and not knowing what to do. See anything fancy, buy. We bought from ABC, UBS to Citi. We sell our core assets and buy into new fancies. Then we discard them quickly and happily.
What else to we want to buy or want to sell?
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28 comments:
I won't like to call a kettle black because I am a pot too! When I go shopping with my wife, we too buy things we don't need. I have a pile of digital cameras, some of which I've not even opened or read the friggin' manuals. I've got a few high end sound and video cards for my computer which I am too lazy to install. My wife has a stockpile of pots and pans that promises to turn her excellent cooking into Cordon Bleu standard. (hehe, remember THAT cook?)We also have lots of household items that we don't really need. The list goes on. This is called "impulse" buying. My wife is prepared to shoulder much of the blame. I am just abetting her favourite pastime.
Maybe can sell our supertalents to the world at high price?
sell our supertalents at high price? who? ok, the "ivy league" people who happen to work with the govt.? Maybe we even have to give them away for free..
JJ:
I wonder if there are anyone outside SIN willing to pay our supertalents one tenth of what they(talents) pay themselves here.
patriot
Patriot,
Then marketing skills come in, market the sale of supertalents like how the other investment products have been. Even when it is overly priced, good marketing strategies will still sell it.
Sell and get the money in first, talk about the rest of the risk, commitments later....I thought this is the trend?
wally, it's nice of you to treat your wife's philandering with kindness. oops. just kidding. always respect the wife's way on how to spend your money.
and your 1 rm flat must be 3000 sq ft to house all your unused barang barang.
oh, what talents were you people trying to sell? family jewels are not for sale : )
Are our people rich,we don't know.
But we do hv a report by Dept of Statistics,which indicat the monthly income of our citizens + RICH P.R.s-they must be RICH,or else how to be P.Rs?Did any maid become PR?NO!@
29June2006,The Straits Times,P.H(ome)4
Average household monthly income by decile:
1st -10th $0
11th-20th $1,180
21st-30th $2,190
31st-40th $2,990
41st-50th $3,850
51st-60th $4,840
61st-70th $5,890
71st-80th $7,260
81st-90th $9,300
91st-100th$16,480
The report in full:
http://www.singstat.gov.sg/papers/op/op-s12.pdf
JJ:
They sold and are marketing themselves well, even their souls were sold off !
And
You must have known by now that money were thrown away to other richer nations instead of flowing in. Lol.
patriot
reDbeaN,
U wrOte this pOst: NeveRlanD.
I've aSked U abOut mOzzie cOnCeRn in sUnGei bUlOh wEtlAnD, leFt a cOmmeNt theRe several daYs agO, haVen't see yOuR rePly, hmm?
Oh ! Forgot to say, business could be so good that the whole country may get marketed as well.
patriot
while the facts may be true, the descriptive analogy is by no means reasonable.
hs
hi jaunty,
my apologies. you know i always reply. must have missed it. the mozzie only comes out when dark of if it rains, and mostly in dark spots or shadows. generally you don't notice them when you are on the track, moving. not a real problem.
once i was attacked by a mob when it drizzled, under an open air class room with a roof, and in a bushy area covered with trees.
only once : ) but better not to wear shorts.
hi hs, welcome to the blog.
Thanks, Redbean.
Of course I know you always reply. Understand.
Thanks for sharing.
redbean,
What's the matter man?
You ought to be happy that S'pore is OK and that the people are quite comfortable and well-off — compared on a global scale, mind you.
But here's the thing... the exact same phenomena as in the west.
As soon as a society becomes rich, they become complacent, then people start complaining about "materialism", and start feeling guilty for being "too successful". Then some folks get a bright idea — why not force people (not those doing the proposing — 'other' people) to "help", and gain much political leverage as a bonus.
Then you have a welfare state. Actually, I do believe that S'pore will soon be a welfare state — the political infrastructure is more than suited, being a one-gang authoritarian and semi-totalitarian system.
To be sure, it is good to help your fellow-man. However that action should be completely voluntary, and throughout history this has been proven to work — my opinion being contrary to what is the general myth, which I reject: that people don't give a shit about each other.
So redbean, be proud, be content and be supportive of the real people who make Singapore rich by their hard work and sense of responsibility to themselves and their kin. If the guy wants to buy his multi-million dollar fancy sports-car, don't put him down lah.
Many forget: the reason Temasek has so much fucking money is because the origination of that money is the hard work of the people, and the drive of the business folks — the much maligned and unsung people in the private sector. And there is an implicit social contract with the people of Singapore to look after and grow that national capital to ensure the financial solidness and rock-stability of the country.
That means, mindless buffoonery on the part of management which results in multi-billion dollar write downs and losses must be vigourously criticised.
The private sector is heavily criticised everyday. "Unfair" practices, "Cartels", "Greedy", and you may add your own epithet. Sure, some of the labels are true. But so what? At the end of the day people are doing work, wealth is created and we're better off.
National day is around the corner, try and be a bit more 'connected' to your countrymen.
hi matilah, this is the most balanced post you have made. and i agree with most of the stuff you strutted. yes we have done extremely well under the circumstances and we should celebrate the national day with pride. but be careful, pride comes before the fall.
in many areas, we are in a state of a renaissance, a wakening that we are there. we are splurging on many things which is also good. we have the money, we work for it, we should enjoy our hardwork.
but there is a little hypocrisy, irony which people failed to see. we are a welfare state, period. but the welfare is right at the top. the buffett spread is the finest and never ending. at the bottom, the message is, work hard, and work till you die. that is happiness. that is living life. wrong man.
but that is not enough. produce more babies to join the work force to support the high living at the top. who needs the babies and for what?
sorry, i digress. the wealth of the nation must be shared by the people, and targeted to raise to the living of the general masses to a higher level. today they are all downgrading. yes, even people who are buying private properties are downgrading, paying half a million for a pigeon hole of 500 sq ft is not upgrading. that is insanity. the people has grown so stupid that they did not know that they are paying ever more, working harder, for less of what they could get in life.
what is the point of paying a multi millionaire another few millions? he will use it to buy his 2nd or 3rd lamborghini or ferrari. what is impt is to uplift the quality of life of the middle class and the economy class. only then we can be proud of our achievements.
sale of 200 lamborghinis, well good, but extravagance to the highest degree. signs of decadence.
Redbean,
You must be a modern day Robin Hood. Although you don't rob the rich to give to the poor, your writings are no less lethal than the cross bow that you are aiming at TYPICAL Singaporeans. Happy National Day! Despite all its minor warts here and there, it's still a great place to be and one I will proudly say is the real HOME wherever I may be in the world.
ahhh wally, i am just a grouchy old fool. but it is a right i earned for advancing in years: )
I have learnt that long-term investments (of other peoples' money in the hands of a few privileged golden-spooned elites)is like changing underwears.
It is definitely not "for 10, 20 or 30 years". Those words are merely meant to console and distract.
The once wise old man is not wise any more but foolish to the core. Why foolish? Because he still thinks that he can keep fooling all of us forever!
We still have to admit that the 'Now foolish old man' has succeeded in fooling the People(Singaporeans) for four decades. It was long enough for one and a half generation to suffer miserably for a long time to come.
And that's the least damage done !
patriot
Among the many things he said, redbean said this:
> but be careful, pride comes before the fall. <
Redbean, you have to allow — FREELY — people to make errors of judgement — unless of course their actions have some legal/contractual-bond with you; for e.g. they may not hurt your person nor steal or damage your stuff.
That being said, we are all imperfect in thinking and action — at least some of the time. We also act on imperfect knowledge, and fast changing facts — too numerous to track, let alone identify as 'relevant' or 'irrelevant'. Nature has it set up so that no one mind or consciousness can grasp the whole thing, all of the time and make perfect objective sense of existence. So to expect machine-like accuracy from a human mind is complete nonsense.
However, there are people who have convinced themselves and now are on a crusade to convince others that they have needle-point accurate minds and thinking processes. They become proud and arrogant, and soon their 'infallible super-human mind' behaves like the rest of us and makes mistakes.
Proud and arrogant people are often over-confident and take neurotic risks — like the gambler at the casino trying to impress some gorgeous gold-digger with his 'courage'.
You must admit it is kinda sweet to see people like this fall on their sword :)
...and also keep in mind the fact that others have the right to an 'entertainment experience' when they see US fuck ourselves up good and proper.
So enjoy the suffering and mistakes of others. They are giving of the totality of themselves. For these excellent performers the 'art' rests on their total commitment and selflessness for the enjoyment of the audience. The foibles of their life are for public display, comment, criticism and enjoyment.
rebean ends with:
> signs of decadence. <
The people who bought the 200 Lamborghinis and probably a whole lotta other expensive shit, plus are probably so rich they are also buying gold bullion and making even more money during this 'crisis'. You'd better believe it, a few fortunate ones are raking it in.
And so what? They never hurt you. Their success was not a result of your impoverishment.
Maybe some guy who came from poverty, worked hard and smart, was also lucky, then in time finally 'made it big', and one of the things he wanted was a fancy car.
Is that immoral? I think it is very moral.
To be able to buy that car he had to do certain things. Yes, violent crime and other illegal activities will get you rich too, as with being a govt dictator.. but for the most part, 'ordinary' people earn their wealth fairly and squarely most of the time.
In the relatively mundane world — the same-o-same-o everyday — our hero had to be nice to people and deal with them fairly, run his company properly, exercise financial and personal emotional restraint when needed, take on risk (of total failure), and make big personal sacrifices — all for a long-term 'win'.
redbean, don't over-romanticize 'evil' or the human short-comings we all posses.
Relac lah brudder. Everyone's a little fucked-up. Be happy for those who have succeeded.
i really admire those lambo drivers. no i don't begrude what they have. i want to have one too, inshaallah.
now what errors of judgement were you talking about? i don't see any.
and about people taking away my things, my properties, etc, i am a little confused. i don't know what i have, what is mine anymore. so i can't figure.
what is mine is no longer mine.
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