In praise of the brilliant policies

Two key issues dominated the Natcon recently. Public housing is still affordable and CPF savings for the young will be enough when they retired. Some could add a third, the PSLE. I fully agree with the survey and comments that public housing is affordable and the CPF savings of the young will definitely be enough when they retired.

The caveats. As long as the repayment term is flexible, as long as the rubber band formula does not snap, public housing is affordable. (My personal definition of affordable is one income and a 20 year repayment at not more than 30% of monthly salary. Sinkies must not blindly subscribe to the deception of a moving reference point that makes the next astronomical number looks like only a small increment. It is a sneaky way of reasoning to make the unreasonable appears reasonable). It is time to put a stop to this unending Natcon that public housing is not affordable. It is affordable! You need proof, well just look at the queue and the happy buyers of every BTO launch. You want real numbers? There was a case where a buyer’s monthly income is only $1,000 and he could buy a 3 rm flat, or was it 4 rm? Then there was this couple who earn less than $12,000 pm and could afford to buy a $1.77m executive condo. These are hard proofs that at both ends, public housing is definitely affordable. Other wise there will be no one buying them. And for those who cannot afford to buy, just too bad, work harder and earn more or lower your expectation, buy within your means. But if you earn more than $12k, buy within your means also, empty your wallet to get a private property. It is prudent to spend every cent you have for a private property.

As for the savings in the CPF, sure, I am 100% sure that the young will have plenty of money in their CPF when they retire. The fear that inflation will eat up everything in the savings and turns the currency into banana notes is unfounded. When inflation goes up, just increase the amount to be saved, to be kept in the minimum sum. So easily done. If inflation goes up by 200%, make sure that the minimum goes up by the same amount or more. By then, if a plate of char kway teow is $1000, no sweat, the minimum sum could be $20m. So much moolah! As long as the minimum sum formula is as elastic as a rubber band, it can be stretched and stretched to accommodate the slack. I would even guarantee that it would be affordable when the young hit retirement age at 80 or 90. There will be plentiful of money in their CPF. Don’t worry about the value of the money. Don’t worry, I won’t be around.

In conclusion, these two topics should cease to be national issues for discussion in the Natcon. Natcon should be used to discuss about happiness, graciousness, kindness, harmony, and how we want the country to be in the future.