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4/08/2010

It is all market forces

Now what shall I write this morning with COE hitting heaven and Sheng Siong still in the limelight? Shall I rejoice that my car can now be sold more than the price I bought? Between the two hot issues now, both have a same vein to stretch. COE prices are the result of normal supply and demand. No one is at fault. The system, like the BTO scheme, is well designed and the best. The govt has done it part. So let's live with the high prices. The alternative is to have all our roads turning into car parks. So bite the bullet and pay. For those who cannot afford to pay, please, go and take public transport. If you can't pay, you don't deserve to be driving a private car. This is the reality of life. Got money got everything. No money, diam diam. As for Sheng Siong, HDB has stepped in to warn that if prices go too high, Sheng Siong would not have enough stall holders to sell produce in the wet markets. Have no fear, Sheng Siong can run all the stalls by itself. This is business. Sheng Siong is out there to do a business and will respect market forces. If all the current stall holders quit, the better. I am confident that Sheng Siong, being a successful business empire, will have everything thought out and planned. No one should interfere with market forces. The stall holders can go, the customers can refuse to patronise, doesn't matter. And Sheng Siong being the market owner, is free to set its rentals and the tenure of the rental. It is free market practice. Now who is out there trying to temper with this classic economic theory of growth? If Sheng Siong can raise fee another 50%, and if there are stall holders who are willing to pay for it, so be it. The Ah Sohs and Ah Mahs who think the prices are too high, can take a walk. I mean they can take a bus or MRT to another market to buy. No need to depend on Sheng Siong if they are not happy. Then there is FairPrice always ready to serve them at fair prices. What's there to complain about? Storms in the tea cup! Now, what am I saying? Early in the morning, a bit blur like sotong. I really like the way I talk down to the losers: )

20 comments:

Anonymous said...

>>...HDB has stepped in to warn .. Sheng Siong

The "miracle" of pre-election Singapore.
Of course nothing will change :)

Wally Buffet said...

Wow! I am truly happy that my car is also worth it's weight in silver now. Plus, the next thing that would be bid up would be number plates. It doesn't make sense to have a car that costs an arm and a leg and have a number plate like 7852 huh? Status, status, status, it's who you are. For all you losers, please bear with the gaggle of foreign Ts in the MRT and buses. At traffic light junctions, I am embarrassed to see so many angry pair of eyes bearing down at me in my spacious saloon listening to the "has been" Tom Jones screaming his lungs out with "Delilah" in an "intelligent climate control" setting. This is one of the perks of being a Buffet. :-)

As for Seng Xiong. This may be the plan. Buy the properties. Raise the rents. The sitting tenants leave. Ah Xiong gets an empty "wet market" space. Put in stalls all owned by Ah Xiong. Slowly morphs into a wet market that looks like a supermarket and will become a supermarket. When things die down, it's fait accompli!

Hehe.

Robert Tan said...

Didn't know you listen to Tom Jones too - I prefer the slower ballads, e.g. Green Green Grass...appeals more to the sentimentalist in me. Tsk!

Chua Chin Leng aka redbean said...

I was listening to that funny familiar feeling when this gleaming white Porsche shot pass me. and the number plate said SCK1T. Mine, I gave chase in my WRX.

You should have seen the driver,. gorgeous young thing. That made my day: )

Anonymous said...

It is simply pure unregulated free market place, SIN is a free land. The Straits Times reported or rather a forumer wrote on 7th April 2010, that legal money lenders can charge up to 270% interest rate. And more, if payments are not made on time and additional administrative charges are levied. Then there is the legalized debt collectors that used myriad weird tactics. Wo.. plenty of free plays.

270% legalized interest rate must certainly surpassed any World Records by a big margin in istory. Wonder if there is any Justice System in this land, it should, otherwise the Word legal or legalized will hold no water. Okay, maybe there is Justice System, but, those enforcing them have NO CONSCIENCE, it must be, otherwise this tiny dot will not be the SIN Galore that befittingly name SINgapore.

Fait Accompli will soon be Fait Destiny Mati

Anonymous said...

It is simply pure unregulated free market place, SIN is a free land. The Straits Times reported or rather a forumer wrote on 7th April 2010, that legal money lenders can charge up to 270% interest rate. And more, if payments are not made on time and additional administrative charges are levied. Then there is the legalized debt collectors that used myriad weird tactics. Wo.. plenty of free plays.

270% legalized interest rate must certainly surpassed any World Records by a big margin in istory. Wonder if there is any Justice System in this land, it should, otherwise the Word legal or legalized will hold no water. Okay, maybe there is Justice System, but, those enforcing them have NO CONSCIENCE, it must be, otherwise this tiny dot will not be the SIN Galore that befittingly name SINgapore.

Fait Accompli will soon be Fait Destiny Mati

Wally Buffet said...

Of course I listen to the oldies. We are probably of the same generation. Maybe I'm even older than you. So you can call me Oinkle. :-)

They don't sing the way they use to anymore. The oldie evergreens bring back fond nostalgia. Can you believe it I still have a large collection of vinyl records. Most prized possession of mine.

Robert Tan said...

Good for you - couldn't afford records in those days, mainly radios or cassettes. Since upgraded to CDs.

Understand many still prefer records for the "richer" sounds...though I wonder how expensive it must be to maintain a turntable these days.

Wally Buffet said...

Mr. Bean,

Just my opinion hor. Don't get mad. You may not look that gorgeous in a WRX, the Chinatown playboy's car.

Swap it for something with class. No need for the noise and the pseudo revs to make a statement. Silently and majestically classy.

Now, when a SYT drives by in a sports car and we stop at a traffic junction, she gives me the slightest smile of approbation without giving herself away and I give her the thumbs up. How's that for a little socializing?

Robert Tan said...

How about a Lambho...

Chua Chin Leng aka redbean said...

I a Chinatown Ah Beng, every inch of me: )

Cannot go for the European model lah. The bloody insurance is killing me.

Anonymous said...

Why are we talking about the PRICE OF COE when the limited(restricted amount) number of COEs can be allocated by means of draws. The reason for COE is solely to restrict the amount of vehicles on the roads in the country. Vehicle population can be controlled by restricting ownerships to those above 21 yr old with valid driving licence and each such qualified owner allowed only one vehicle.

Why and where is the need for the people to bid for COE and why are car dealers allowed to bid for them?? By all means charge a reasonable administrative fee on the COE.

Using a scheme to make money when the motive is to just control the growth of vehicle population is pure exploitation. There is no justification to exploit the people in this case.

patriot

Chua Chin Leng aka redbean said...

Market forces mean got money is king. If one has several billions, want to buy 20 cars, and pays for it, the losers please make way. If he wants to buy for all his grandchildren and mistreses, losers, please get lost.

The market forces is supreme, that is if you have the dole.

Chua Chin Leng aka redbean said...

Oh, I missed the 270% news yesterday. If this is the way to go forward, it is better to legalise Ah Long. Then more revenue for the state and no more Ah Long problems.

We are getting purer as a capitalist economy.

Wally Buffet said...

Anything that is obtained through a bidding has a speculative element to it with the auction house being the winner all the time. Obviously we don't have 2 "integrated resorts". The whole country is an integrated resort of sorts.

Coming up, if you still can afford it will be certificates of entitlement for:

1. Marriage.
2. Computer usage.
3. Overseas tours.
4. Public Housing.
5. Cycling.

Ok, ok, I am being too paranoid. Such COEs will never happen. Just joking only lah.

Hehe.

Anonymous said...

If Sheng Siong cannot operate because of too few stallholders, the Government warned that they will have to apply for a change of use to convert wet markets into airconditioned ones.

I think this is all wayang. Would they refuse to allow Sheng Siong to convert? Just wait an see how this wayang ends. My guess is it will be a happy ending for Sheng Siong.

Anonymous said...

Seriously we shd have certificate of entitlement for FT. This will keep their population in check. The numbers will also base on the same numbers who go back to their own countries.

Chua Chin Leng aka redbean said...

Ya man. COE for FT and let them bid for it. Bee tang suggestion. How come no one think of it till now?

Anonymous said...

Well Ministers are paid to listen and not to suggest. Someone should propose this to the forum.

Anonymous said...

Er, before that, we need to define the scope of 'entitlement' hor.

Nowadays, the FTs are so rich they are buying properties here to beat the even higher prices back home. Bidding for COE is sup sup soey to them.