CPF is forced saving

The CPF is a forced saving for the old age just in case everything is gone. It is not meant to be the sole means of survival for anyone. That is why the term used even to retain after 55 is called minimum sum. It is not the maximum sum or something extravagant. Now that people are talking about compulsory this and that, let them not forget that you can make things compulsory as long as they are within the confines of a minimum sum. Anything excessive will invite rotten eggs and anger. Now, what is minimum sum? This is an illusive figure that varies according to one's pocket, lifestyle and appetite. The $120k figure being used is a ridiculous figure to many people who hardly see $5k in their savings in their whole life. The premises for a compulsory saving scheme after 55 should include a clearer definition of what is minimum. A useful number should be the $300 pm that the govt is giving to the destitutes. This should form the basis of minimum sum. Compulsory saving should work upwards from this number. The people are not saving to eat in restaurants. Such luxury should be voluntary and be left to those who can afford them. Many will do well eating in hawker stalls or cooking for themselves. The next factor is a 20 year time frame, ie 62 to 82. Forcing people to save after 82 is ass talk. By 82, the bulk of the people would have gone. The remaining few if still needed state assistance would not be too much a burden for the state to bear. $300 pm or less. Whether it is annuity or to leave the sum in the CPF should be optional. And for those who wanted to save $120k or $300k in their CPF, by all means. The people must be allowed the option to opt for more savings to be left in their CPF at 55. The compulsion part should only be for the minimum sum, using $300 pm as the starting point for computation. For people who are working beyond 62, the minimum sum can be lowered proportionately and not increased. Who's the idiot who said the longer one works, the more must be saved? The above should be some of the basic premises to compute the minimum savings needed for the aged. As I am not paid for this, this is as far as I am prepared to offer. Let those who are being paid in millions to think of something more realistic and workable. They are not paid that kind of money for nothing. The higher one is being paid, the greater is the expectation. No more slipshod solutions. They must justify the supertalent pay that they are being paid for.

The CPF embarrassment

How best to look after the ageing population with their CPF money should be done by a neutral party that is free from all the encumbrances of existing interests and mindsets. Only an independent mind, with a simple objective of maximising the money in the CPF, can come out with a reasonable way to help the ageing population. And there is no need for a $3 million mind or even a $1 million mind. It is ridiculous to be embarrassed by superficial solutions that have been on the table all these years and push out as new and creative solutions. Any undergraduate doing his term paper would be able to come up with more exciting and innovative solutions. Empty the cup if we want to fill it with new tea. Or as they said, please don't teach old dogs new tricks. It is a waste of effort.

En bloc musing

The Horizon Towers sellers stood to sell their flats for $2.5 million each before it was aborted because of some technicality or reasons. And the buyer is going to sue. Now the issue is how much to claim. How about claiming that the plan to rebuild the place could generate profits in the hundreds or thousands of millions, like 100 storey high? This will probably mean a potential big loss in profits. Now the claim should be $5 million each from the sellers for breaching the agreement. Maybe claim $10 mil from each of them by submitting a plan that each new unit will be so well furnished and appointed that they can be sold at $10 million per unit. Those poor Horizon Towers owners must be having a nightmare now. It is now up to the buyer to decide how much they want to claim.

CPF Money

Boon Heng has come out with his second recommendation after his Japan trip. His first was to work longer and delay withdrawal. As one ages, withdrawal is not even an issue. Nothing to put in. His second recommendation is buying annuity plans, probably compulsory. How come I don't have this deja vu feeling that great things are happening? I was expecting a $3 million solution that will be more flexible and discriminating. I was expecting recommendations on how to deal with multi millionaires who need $20 mil but have $200 mil savings and those who need $20k but have only $2k and those who have half a million worth of properties or assets. And in my recent post I already mentioned that people who can work till they die need lesser or no CPF savings at all. Definitely they do not need to save more to stuff into their coffins.

Raping the Asian Minds

For a few centuries, Afro and Asian countries were colonised by the west and robbed of everything, including pride and ability to think rationally. The physical robbing of resources and wealth may be over, but mentally they are still being raped daily, with the assistance of the media, including their national media. Today, the Afro Asians hardly remember or talk about the ravages of being colonised, and even forgot who colonised them and subdued them in their own country. For these are not the agenda in the western media. They don't talk or write about them. Better to let people forget about them. And to keep the Afro Asian's mind occupied, they created a bogeyman for them to hate. In the past it was Communism. Now it is China. Everyday the West will be bashing China for one thing or another. Expansionist, aggressor ambition, human rights, destroying the environment, pollution, poor quality food and goods, about to collapse, about to conquer the world, boycott the Beijing Olympic etc etc etc. As the message keeps on repeating daily in all the media, the subconsciousness of the Afro Asian minds gradually see this huge demon in China. And they all hate China and Chinese. Compare the Afro Asian's anti Chinese feelings to those of the Koreans. The Koreans, especially the North, knew who colonised and raped them. It was not the Chinese. Their enemy number One is the Japanese. For the Koreans were the least affected by the daily raping of the western media. Many don't read or can't read English. In the rest of Afro Asia, where English is widely used and English media is widely read and followed, their enemy number One is China. They forgot and cannot remember who colonised them and raped them. The Afro Asians deserved to be raped, mentally. For they lacked the ability to think and set their own agenda. The agenda is set for them. The thinking was done for them. Pathetic.

Sultan of Selangor said

Sultan Sharafuddin Idris Shah of Selangor said, 'This country belongs to all Malaysians regardless of their race, and everyone has a right to feel as Malaysians.' The Sultan and some other royalties are showing concern about the worsening racial tension in the country stirred up by opportunist politicians in UMNO. The Sultan also said that politicians should not try to become popular by stirring up racial issues. If Malaysia and Malaysians were to allow the politicians to keep on stirring up hatred and animosities, Malaysia will go down the slippery road of self destruction. Instead of building consensus and building the economy, the politicians could only think of gaining fame and self interest at the risk of driving the country into racial turmoil. Has any of these opportunists come up with good developmental ideas to improve the life of the Malaysians? Zero. All they know is to stir shit and politicise everything. How could irresponsible politicians be allowed to continue to break up the country for their private agenda?

Quote by Khairy Jamaluddin

'How can we be racist, when we are defending equality.' And he wanted to increase affirmative action quota for Malays if the Chinese were not happy with the 30% set aside for Malays. In reality, especially in university places, it is more than 30%. And the Malay control of the economy too is more than 30%. While employment in govt service is probably 70% to 90%, depending on the ministry.

3 bubbles to destroy China

William Pesek wrote another article in the Today paper, one of those that prayed that China will collapse tomorrow. Nothing worth reading as the doomsayer's mindsets are predictable. I would like to write an article about the 6 bubbles that will destroy America. 1. The huge trade deficit that they cannot afford to repay. The greenback will soon become green banana money. 2. The huge expenditure on war and the defence budget. 3. The high consumption of Americans. They drink more petrol and eat beef that is 5 times bigger than the Asians. Mother earth just cannot afford to keep feeding them without going bust. 4. The high wage expectation. They think they are the chosen people that can always command a higher pay than other aliens. This privilege is only reserved for citizens of Paradise Island. All their industries will move out in a matter of time. They are simply uncompetitive. 5. They have made themselves the enemy of the Arab/Muslim world. 6. They think they can continue to fight wars everywhere with impunity. I could have added more. But these 6 bubbles, each alone, could cripple the American economy.

Nobel laureate out of sync in Paradise Island

Professor Muhammed Yunus was invited to Paradise Island to share his idea of a poor man's bank with Singaporeans. There were also talks of setting up an equivalent bank to help poor Singaporeans. I almost got choked when hearing this. This is probably the biggest contradiction to start with. In the first place there are no poor in Paradise Island. Or at least the poor are given more monetary aid than what the poor man's bank is giving out as loans, a miserable $50. Our govt is giving $300 a month to the poor as handouts! That must be a princely sum to go by. It is thus a non starter as a concept. The talks of Singaporean banks starting a poor man's bank is also another non starter. We used to have a poor man's bank. But since it started to charge a fee for the poor men to keep their miserable few dollars in our world class banks, I don't think any of our banks will bite at the possibility of giving out petty loans of $50 in the first place. It does not justify the high administrative cost. And how could we expect our banks to give loans without collaterals? Unthinkable. The talk by the Nobel laureate is as good as an academic exercise in futility to honour a great man.

Myth 158

The New Chosen People Singapore is so blessed, and so are Singaporeans. Singaporeans are the New Chosen People of God. We are blessed with all the supertalents that the world can have. Our people, including the workers, should all be paid salaries more than any other people in the world. This is to enable them to pay for all the world class goods and services at world class prices. Our properties will soon be the most expensive in the world, like our cars. Our office rentals deserve to be the most expensive as we are the paradise on earth. And our shopping paradise will price all their goods at a price where the rich and famous can afford, including Singaporeans. It is our right to price ourselves, including our salaries of workers, to be among the highest in the world. Because we are so good, we need not fear competition. For we are the chosen people. People of the world must come to this paradise to support our high standard of living. And we will continue to prosper and pay our way for all the good things in life. It is our never ending story to prosperity.

IDR and tinted glass

When the two govts are trying so hard to get things going in the IDR, two agencies from opposite side are doing or not doing things to facilitate the movement of vehicles through the causeway. Both sides have different specifications for tinted car windscreens which technically makes travelling by cars a pain to the travellers. What is acceptable and not acceptable is going to irritate all the drivers. Can't the two agencies sit down and talk over kopi and decide on a common specs for the benefits of travellers/drivers? Or should such a minor issue become another sore point to the two agencies and to travellers?

5 man SAF team returned from Afghanistan

It was reported in the media that a 5 man SAF dental team has returned from a humanitarian mission in Afghanistan. And another engineering team is still there till Oct 31. It only reminds me of the 23 Korean hostages incident. What if? Hope we don't have to plead and bargain for their lives.

Umno Youth threatening bloggers

Hishamuddin had spoken again, threatening bloggers with sedition. "Umno Youth warns that freedom has its limits and we will not tolerate those who touch on issues of national stability, harmony, cultural values and the personality of national leaders," he said. Actually who are the greatest culprits in raising sensitive issues and threatening violence in the country? Luckily he did not draw his kris this time round.

Sin of Waste

Singapore will pay for its sin of waste one day. We are getting more like the Americans, wasting precious resources without a care as to how resources could be used more efficiently. We discard our cars after 10 years, some even less. Now we are tearing down buildings that are in good conditions, millions to build and millions added on by their owners. Tearing down some low rise houses for highrise is a necessity. But tearing down highrise to add on a few more floors and to charge the buyers more, all for more profits, well, it is a different ballgame. It is greed and waste with total disregard to the destruction of mother earth. More bricks and mortars, iron and steel, aluminium and plastics and mother earth will be used in the process. The immediate impact is to drive property prices up. And more people will end up having to pay more. The people who benefitted from en bloc sales will use the new cash to pay more by downgrading. This will in turn push up prices in the sector that they downgraded to. When property prices keep going up and income does not keep pace, many will end up chasing a fleeting dream. And when the bubble bursts, often it does, many will end up with valueless properties either people do not want or cannot afford to buy. The American subprime loan crisis is a good reminder of what could happened or had happened here before. When property prices were driven to ridiculous levels and the developers and all their cheer leaders and pom pom girls keep cheering that it is a good thing, prices will go higher. Now a HDB flat cost more than half a million, back to the pre crash prices of $600k and $700k. These are ridiculous prices, excessive for their real values. It will come tumbling down again. There will be no buyers to pay for them except the few who made easy gains from en bloc sales. The normal buyers, people who earned their money the proper ways, the hard ways, cannot afford to waste on such extravagant prices. Keep cheering and be irresponsible. The crash will come again. We will have our own subprime loan in over lending to the property market one more time. Non performing loan crisis. Our economy and income level cannot sustain an ever rising property prices.

Educating on the Inevitable

The old must die. That is a certainty that no one can escape. When the body ages, all the systems must fail, and all the regenerative and defensive systems must break down. That is life. We need to educate the people on the inevitable. We must educate the people that the road to the beyond is not something to fear or to delay at all cost. The people, especially the less educated and enlightened masses, must be assured that there is nothing in dying. It is a natural path to take. It is good to live as long as one is healthy and able, and with the finances to keep life going in a comfortable way. But if health does not permit, or finances are drying up, and when age and sicknesses catch up, there is a time to let go. When the people have been taught to expect the inevitable, there is lesser fear of death by old age. There will also be lesser worry about saving not enough for old age and the expensive hospital bills. There is no need for expensive hospital bills. Why should a lonely, homeless, penniless person, with all the body systems breaking down, insist on staying alive and paying a ransom to the medical profession and institutions to remain in that pathetic and useless condition? Would it be better, if he still have some savings in his CPF or Medisave, to use it to make his life more comfortable, enjoy his few remaining years with the food that he misses or the wine he wants to taste and live life to the fullest instead of stinging to keep all the money to be given away for the medical care givers to splurge on themselves? We must educate the people to save for their own comfort and enjoyment and not to feed the medical bills. Up to a point, there is no need to throw more money away to pay medical bills when the effort is futile.

Japan, the military demon awakening

Despite all its claims of being a peaceful nation, the Japanese have been quietly and steadily reviving their militarism and are eager to tell the world that the old Japan, military supremacy, is back on its feet. The Japanese military build up is anything but small. Its armed forces are probably bigger than the Chinese in financial terms or at least not too far off. It could even take on the two Koreans combined if necessary, and China, with the Americans behind them. That is how powerful the so called Japanese Self Defence Force is. And like Taiwan, they are slowly changing all the names from a Self Defence Force that cannot be deployed to conduct wars outside Japan, to a normal, and a military machine to wage wars against other nations. Its constitutions too have been amended. And the regular visits to the Yasukuni Shrine and the drumming up of military sentiments and past glories, including rewriting history books, revealed the real intention of the Japanese. Iraq was a stepping stone to test the water. And with the Americans controlling the agenda, the world kept quiet and allowed Japanese troops to be deployed outside Japan. Now that the taboo is over, the next and more aggressive posturing will be Afghanistan. The Americans are goading the Japanese to go along as a warring partner after Europe have given up on them. Now it is left only for one war mongering nation to join hands with another war mongering nation to prove how capable they are in the conduct of war. Afghanistan is the new battle ground for imperialist forces to quell the resistance. Afghanistan will be the new burial site for young Americans and Japanese soldiers. Japan will see their first war casualties after the Second World War in Afghanistan. Two eager beavers who see military supremacy as the absolute goals for their nation, and for the egos of their political leaders. When the rest of Europe and Asia were devoting their resources and energy in the peaceful pursuit of trade and industry, America and Japan are making plans for more wars. Rice and the Japanese Sushi are in serious discussion on how many Japanese troops should be deployed in Afghanistan. Did the world see another Hitler and Hirohito in the making?

Myth 157 - The American Financial Myth

What goes round will come around. The Asian financial crisis that battered Asian economies and made them look like little boys in the world of high finance, and making the West looked like school masters having a thing or two to teach the unsophisticated Asian govt, was a humiliating experience to say the least. And IMF came around, with the Americans in charge, dragged the little Asian boys by the collar and cane on the other hand, and reprimanding, these are the things that Asian govt must do. No buts. Asian govts were told to open up their books, revealed all the bad debts, more transparency, more regulations and controls, no more subsidies, closed down badly managed financial institutions, basically, to get their straw houses in order with strict financial control, thrift and prudent govt expenditure. The Asian economies were badly managed, or Asians just could not manage them and needed the expertise of the West to clean up their acts. It is time Asian govts pop over to Washington and see what Asians can do to help the Americans. They have badly mismanaged their financial institutions and are literally broke. Not only the sub prime loans but also huge trade deficits and wild and unrestrained spending. How about Mahathir going there, representing Asian financial institutions, carrying a bag of goodies and a cane and telling Bush to pull up his socks? Imagining Mahathir telling Bush to rein in all the bad debts, closed the loss making institutions down, tighten belts, no more deficit spending, no more money for wars, and more regulatory controls and transparency? And if all these still fails to bring back the American economy to health, Mahathir can teach them to stop the greenbacks from trading and fluctuating freely. Fix the exchange rate for the greenbacks, institute currency control and stop speculations. That would be the American nightmare. What happens to all the world class financial gurus? How could America's financial institutions be so badly mismanaged and allowed to go on for so long? Did they know what the hell was going on or do they know the fundamentals of economics? Cheap loans, high credit risks, deficit budget, are all the ingredients to a major economic crisis. The next thing that will come around are the diseases on livestocks and natural disasters that the Asians are experiencing. You cannot run. It will come around.

Preventing a meltdown

Across the world, all the central banks are pumping money into the economy and stock markets to avert a meltdown, except for those who have delinked themselves from the American capitalist system, eg the muslim states and Myanmar. What an irony. They are saved from a world system that is built on greed, exploitation and mismanagement by the Americans. And the Americans are pouring good money to chase after bad money, US$38 billion in the last few days to buy up bad sub prime mortages. When the fundamentals are wrong, it will go badly wrong. Spending and living on credit without thinking of repaying, or extending credit to unworthy customers, like our Ah Long, are awaiting a disaster of unimaginable proportion. The Ah Longs will find all ways to recover their loans. The Americans think that there is no need to recover these loans and will keep refinancing them over time, just like their trade deficits. Can it last? While the Americans were deceiving themselves into the sub prime mortgage industry, the bad thing is that they are exporting these poor credit risks to the rest of the world. Many unsuspecting countries and funds were lured into investing in such mortgages. And Murphy's Law was waiting to prove itself right anytime. Dow was down about 200 pts last night but managed to crawl back to lose only 31 pts. What a close call.

Myth 156 - Saving not enough

Singaporeans, at least 80% of them, are having a nightmare that they have insufficient savings for old age and retirement. Why is there so much hype and obsession about savings? Insufficient savings have been an issue as old as prostitution. The people of the world have insufficient savings to retire like kings and queens. But many will still live and survive even with little or no savings. The present assumption is that everyone must retire with a huge nest egg, scrimping from their daily needs, so that when they retired, they will be richer and have more money to spend than when they were healthy, young and working. And there is also this assumption that the cost of inflation will outrun all their savings and they will never have enough. Another part of the equation is to take away all family support and the asset esp the HDB flat that will also become quite a bundle with inflation. And of course when all these oldies are old and feeble, they need to spend more to live like healthy young things with a growing appetite to spend and party. And now people are encouraged to work for as long as they are alive. Actually as long as one is able to find a job that one can work till one drops dead, there is no need for savings. The longer one works, the shorter one has to live on one's savings. So the lesser savings is needed. If only more jobs can be created for the oldies. Who needs all the pretty young salesgirls or salesboys when these jobs can be done by granddads and grandmas, and at lower cost? Singaporeans are over saving, and for what? Oh to feed the ever increasing hospital bills and other cost of living.

Price Survey

With so many incidents of price hikes and profiteering, the Dept of Statistics should conduct a survey on the prices of food sold in all hawker centres and food courts, plus shops. The survey form shall list out all the items on sale, what is the latest price, when was it changed and what were the last three prices. Make this a compulsory survey like the household surveys and not completing them honestly will be heavily fined. Once the hawkers and stall holders have submitted their guilt in black and white, then go after them one by one, at your own time.

Singaporean Dictionary v1.1

With a few new additions The Singaporean Dictionary of famous phrases, in jest. (To be added on as more gems are discovered) Affordability: It means affordable according to the income of the person saying it. Brutal Truth: Utter only by the super rich and super talents. Equality: Some have more rights than others. Or as in Animal Farm. Foreign talents aka Fallen Trash: Not very bright foreigners but can replace Singaporeans on cheaper pay. Foreign workers: To compete with local workers to keep wages low. GST: Tax to benefit the poor and lower income citizens High Pay: Free of corruption Honest Mistake: Free from accountability. A learning process for taking risks. IR: Another term for Casinos Let's move on: Enough. We have decided and no one should say anything more about it. Case closed. Local talents: Only in demand overseas Majority: If 1 million did not vote and 3 voted, 2 is a majority. Means Testing: An opportunity to strip a citizen down to bare all his poverty. Mee Siam Mai Hum: Uniquely Singapore National security: My security, or the security of whoever saying it. NKF: Every Singaporean knows what it means. Pah Si Buay Chow: Stay on as long as the pay is good. Peanuts: As it is, good for monkeys only. Political talents: The best of all the country's talents. Privatisation: This is a process to make public service organisations more efficient. Once they are privatised, the have to operate to make profits. Inevitably all become more efficient. Quitters: Applicable to Singaporeans who can't make it here. Redbeanforum = online rantings in futility? ;P Retirement age: Not applicable in politics Shareholders' interest: This is used to justify profit at all cost. The shareholders' interest is supreme to the interest of the general public or the country. Straight As: Above average students. Anything below is average or below average. Straits Times: Tongue in cheek views of professional journalists for nation building. Subsidies: Govt subsidises, the people pay. Super talents: Measures by income . Tooth: Tooth that Singaporeans believe in. A variation of truth. Transparent: For me to know, for you to find out. Unemployed: Refers to lazy and choosy individuals. World class: This has many definitions depending on the context. World class govt: Highest paid govt. This is unchallenged. Will appear in Guinness Book of Records soon. World class public transport: Sardine packed public transport. World class universities: Based on the criteria of assessments and number of foreign students and lecturers tweaked to fit to the expected model.

How good are fund managers?

Dow hit by 380 pts fall The SubPrime Loan crisis is not going to go away. American and European Banks are pumping in a few hundred billion US$ to try to stave off the problem. Some American and probably European funds are hit bad. Investors who have put faith in the professional expertise of these fund managers are heading for a rude shock. Could this be the American equivalent of the Asian financial crisis? Let's hope that these great talents and fund managers are able to clean up the mess they have created. It is unbelieveable that they could create such a big bubble for themselves and they are teaching the world how to manage their economies.

Bus concessionary pass is a privilege

Tammy Tan of SBS Transit replied in a letter to the media that concessionary pass is a privilege. So no pass just pay adult fare. Is the running of public transport a privilege or a right of bus companies? Why do we need humans instead of running everything by unthinking computers or robots? This is the kind of Singaporeans that we are creating. The unthinking kind that just work by following the book. A very good example of such Singaporeans are the security guards. Because of the terrorist threat, all the guards are told to check for pass. No pass no entry even if he knows who you are, that you greet him or he greets you every morning. Another stranger who picks up a pass and wears it on his chest will be allowed into a building with no question ask. He got a pass. But then, we cannot expect Singaporeans at all levels to have the thinking ability. Thinking too much is dangerous.

Making informed choices

“The Ministry will continue to manage medical inflation without compromising the quality of patient care,” said the MOH spokeswoman. “We will use market forces, where appropriate, to manage medical costs — for example, through publishing bill sizes and quality indicators. She added: “This will allow Singaporeans to make informed choices on where to seek treatment and provide transparent benchmarks on the comparative efficiency of healthcare providers.” Singaporeans will now be better informed. So they can choose between SGH, KKH, NUH, CGH or AGH. And if they still find these hospitals unaffordable, they can try Gleneagles, Mt Elizabeth, Thomson, Raffles, East Coast, Mt Alvernia etc. Now that Singaporeans have so many choices, they should not complain about high hospital charges.

S Dhanabalan awarded Order of Temasek

This man has been in the thicks of Singapore's development and transformation from a third world to first world status. He has held many key positions that would make anyone envious of the opportunities he had. And he had done well in these offices. He is well respected and according to Jackson Tai, a man for the masses and more important, inculcating a corporate culture based on integrity and fairness. Now how many big organisations can boast about these values of integrity and fairness and be proud of them? How many are seriously violating every inch of good conduct, fair and ethical practices and masquerading under a big innocent smile?

Celebrating National Day

As Singapore celebrates its 42nd National Day, Hsien Loong made a speech about the glorious achievements we have made for four good years of growth under his watch as the new PM. Among the many things to cheer about, he listed the following: 1. Our athletes are winning medals 2. Our Chefs are winning culinary contests ( should include all the Guinness Book of Records Singaporeans have achieved) 3. Our entrepreneurs are launching new businesses 4. Our students are excelling at all kinds of international events 5. We are gearing up for new and exciting projects, like the Formula One Grand Prix and integrated resorts 6. A clean and corruption free society 7. Disciplined and well educated workers 8. A cohesive, multi racial community 9. A capable and vigilant SAF and Home Team Then he went on to discuss about the problem of widening income gap and how the govt has put in measures to help those who are struggling to make a living. And there were many programmes like Comcare and Workfare to help needy Singaporeans. Actually a widening income gap may not be the real problem if the people at the lower end have enough to eat and are able to pay for their expenses. What is frightening the people and causing hardship and pain to the people is the constantly rising costs and money not enough. The galloping away of costs of essential services and basic necessities is the greatest failure of the govt. It is not a case of these costs cannot be arrested but more a case of a belief that profits are good for all these providers of goods and services. And the govt only needs to give some handouts when there is a need to. Thus the people at the lower end will forever be chasing for money to pay for the increasing costs. And whatever income or savings they have will never be enough. If the costs of living can be curbed and contained, there is no fear of a widening income gap. There is no fear of earning a little lesser as things are not going to cost more everyday. And there is lesser fear that savings, the CPF, the Medisave, will never be enough. There is no need for handouts. Give to the people by not giving. Rein in the runaway costs.

En bloc wealth, real or illusion?

Lucy Huang wrote to the ST complaining that after benefitting from an en bloc sale, she is having trouble finding a replacement unit of equivalent locations as the prices have gone way way up. If she is to benefit from the sale, then she either has to buy an unit at the fringe of the island or downgrade. She is now calling for the govt to intervene to bring down the prices of flats nearer to the city areas. Now, can I say 'Did I tell you?' I think all those who benefitted from en bloc sales should just buy another property, cheaper ones, either smaller or away from the city and enjoy the cash windfall. They can't have the cake and eat it at the same time.

Back where it belongs?

The statue of the construction worker, a foreign talent, is back where it is, taking pride in the company of Stamford Raffles. If these paid workers, who came because we pay them well relative to what they can get at home, and are regarded as doing us a favour, sacrificing for us, then what about our forefathers who worked for less? In those times, their pay and working conditions were even worst than now. Why are we not recognising their contributions but feel so compel to recognise the contribution of these recent foreign talents? Any Singaporeans feel outraged?

Power of the web

Muslim intellectuals easily converted to become radicals and recruited to be terrorists. And the radical muslim groups have been exploiting the web to expound their cause and spread their message of violence. And they are very successful. Now there is nothing more effective than fighting fire with fire. Singapore is going to use the power of the web to fight these deviant websites. We are going to put up slick websites to attract muslim youths to the more positive and correct views of Islam and pull them away from the draw of radical sites. I think they can take the cue from the creative ways of Stomp to attract readership with their young oriented articles and posts and all kinds of attractions. Now we are seeing a new kind of wars being waged in cyberspace, competing for the control of the minds and attention of the youth.

Malaysia is secular - said Karpal Singh

Karpal Singh quoted Tunku Abdul Rahman and Tun Hussein Onn that Malaysia is a secular state. He also quoted the Supreme Court ruling in Feb 29, 1988, 'We have to set aside our personal feelings because the law in this country is what it is today, a secular law...' Is it that people have short memory? Or perhaps the ruling of the Supreme Court in 1988 was written in English and some cannot read English today? Malaysia is a secular or Islamic state. It cannot be anything in between, a halfbaked state, not knowing what it is. This will be a good opportunity for the Malaysian govt to state it clearly what it is so that all Malaysians do not live in a state of make beliefs, believing what they want to believe but totally different from realities.

Since when has Pakistan become the 52nd state?

George Bush and many US officials categorically said that if need be, the US will send their military into Pakistan to wipe out the Al Qaeda. And they is no need to inform or seek the permission of the Pakistan govt. Hmmm, when has Pakistan become a state of the US and the Americans can do anything they want in that country? Unwittingly, the US is doing a great disservice to their strongest one man ally in Pakistan, Musharraf, by undermining his standing in the eyes of Pakistanis. What kind of leader is Musharraf that the Americans can ignore him completely to operate military forces in Pakistan? Or is the US intentionally doing so to discredit him and has someone more congenial in mind to replace him? Or is Pakistan already in the complete control of the US? One thing for sure, the resistance of the Pakistanis and their anti American feelings will only grow with this kind of American rhetorics. How not to sow anti American sentiments when they do not have the slightest respect for the sovereignty of a nation?

Can bus captains think?

We have upgraded our transport system to world class quality, and going to get better with more improvement in services. Have we also been thinking about the upgraded title of bus captain and making them behave and act a bit like a captain? Though there is nothing much to expect from such captains, at least they should be able to think a little and be empowered a little to make simple decisions instead of behaving like unthinking labourers. Or they are trying to provoke the commuters to thrash them? A school girl in uniformed was made to pay adult fare insisted by the bus captain just because she forgot to bring her student pass. Even if there is an error of judgement, assuming the girl put on school uniform to cheat the bus company, how much would the bus company lose? Given the way things are, no right minded youth would want to put on a school uniform if they don't have to. And what flimsy excuse did the bus CAPTAIN gave to make the school girl pay more than she needed to? Maybe it is time to re designated bus drivers and call them something more appropriate, like bus drivers.

A different sacrifice

What is this foreign worker statue being honoured by the side of Raffles? From the look of it, it looks like a recent foreign worker with the hard hat. If this is the case, we are over exaggerating the contribution of these foreign workers to our economy. And do we owe them a debt? Who were the real workers who sacrificed their blood, sweat and tears to build this little island? The famous red hat samsui women immediately came to mind. And there were many of the living testaments still haunting the streets of Chinatown and some heartlands. Those were the real pioneers that we have taken for granted and forgotten. The Singaporean labourers and construction workers as well. Just because we are hyping about the greatness of foreign workers and foreign talents, let's not get carried away and forget our forefathers who sweated and bled for what we have today. It may be an ominous sign that the statue was knocked down as an appeasement to our forgotten and belittled forefathers, the people who really sacrificed for this island and got very little in return. They missed the good times and the millions that should be rightfully theirs. Spare a moment of your thoughts to those pioneering men and women.

You want to eat in restaurant?

The beggar asked for another dollar as $2 could not buy him a bowl of noodles. Prices of everything have gone up. The giver was annoyed. What, $2 not enough? You want to eat in the restaurant like me? Beggars cannot be chosers. They should know their station in life. Got things to eat is good enough. If they want to eat at restaurants, they must be real smart and earn smart money. Then they can snap back at beggars who ask for $1 more. Who ask them to be beggars and not smart alecs?

Old formula of success

When the economy is doing well. When there is full employment. When income is going up and up, the old formula that nothing is for free, that all govt services and essential services must operate on a profit basis seem so logical and so effective. But can the same formula continue unabated, without ill effects? The economy is still doing well, jobs are aplenty, so they said. But are the income going up and up? Yes, if one is in the top 20% of the workforce. But for many, the income increase is too little, and to many, hardly any increase, to keep up with all the increases and inflation. In fact many at the bottom are experiencing a shrinking income. The lemon has been squeezed to the point of becoming a pulp. The income of the lower end, even the self employed, have been hit by either lower revenue or higher cost. Even the taxi drivers are being squeezed by the higher cost of rental and petrol. This is a last choice occupation when all else fails. Workers, even professionals, who cannot find employment will find driving taxis and other self employed occupation as a way out. Occupations that they have to work to pay themselves. But as these people keep downgrading, lowering their expectations, they are still being constantly squeezed and their income shrinking while expenses only go up and up. The quality of life of the people at the lower end has been stagnant for many years. There were growth years and improvements in the 70s and 80s. Since the 90s, one can hardly see any betterment. All are struggling to live day to day, trying to make ends meet. And all the public services only think of nothing but hike in their fees and charges. Squeeze them dry, every drop counts.

The Malaysian Pandora Box

Abdullah Badawi came out to say that Malaysia is neither secular or theocratic. What does that mean? Najib and Mahathir said it is Islamic. PAS wants it to be Islamic. The MCA and MIC and the eastern Malaysian states claimed that the founding fathers of Malaysia wanted it to be secular. Would Malaysia be formed if it was to be an Islamic state? The answer is obvious. And the British colonial govt will not allow it. During its conception, it was plain clear to everyone that it was meant to be a secular state with every Malaysian being treated equally except for some special rights to the natives, not just to the Malays. Over the years the Bumis have shifted the goal posts gradually on the threats of another May 13 should the minorities dare to open their mouths. So what we have in Malaysia today is a state running on two principles, Islamic principles and Malay dominance. It is good that the issue is out in the open. Malaysia shall categorically state its position. If it is an Islamic state, a Malay state, or whatever, let it be clear for all and no need to beat around the bush, and everyone guessing. Once the official position is stated and adopted in the Constitution, then so be it. Those who accept it stays. Those who cannot agree with it leave. Only then will Malaysia be allowed to progress in its own chosen path without threats of racial or religious bloodbath. The Malaysians must know what kind of constitution and state principles they are supposed to live by.

NKF story - Knowing shame

The scripture says, 'fearing God is the sign of wisdom.' In life, knowing shame is a sign of honesty. Richard Yong is the first member of the old NKF Board that has apologised, according to his new lawyer, and he is also asking the gullible public, who were betrayed and hurt in the course of events, to forgive him. For a person who has done wrong and asking for forgiveness is a way of acknowledging his wrongs and feeling guilty about it. At least Richard Yong has come about to know that what he had done were wrong and shameful. It is now left to the victims to forgive him. For those who have done no wrong, there is no need to apologise nor any need to ask for forgiveness. It is the fault of the gullible public to be snooked. So do not blame the clever from cheating the public. This reminds me of what the Japanese told the Sick Man of Asia that it was China's fault for being weak. For weakness invites one to be raped. It was China's fault that Japan invaded and tried to colonise it. There is no need to apologise for the invasion.

OCBC Bank - Returning to the roots

It was not many years ago when children were encouraged to save in schools. Banks were also actively promoting savings among children by offering all kinds of schemes and attractive toys to the young savers. Then as banks grew big and strong, they find the few dollars and cents too tedious, unworthy, and costly to manage. So they start to impose a fee for savers who did not have the minimum sum in their bank accounts, something like $1000 or $1500. Small savers suddenly find that it is the bank that is doing them a service and they have to pay to keep their miserable sums in the banks for safe keeping. I think subsequently all the children savers who have less than the minimum sum stop putting their money in the big and strong friendly banks. The banks are now so rich that they find the small savers a pest. I cannot imagine where these small savers are putting their monies but very likely in piggy banks or some tin cans. Where else when no bank is going to keep their few dollars for free? Now OCBC is launching a scheme with all kinds of attractive gifts for the children to save. I believe these children will not have to pay a fee should their savings be too small. Nothing stated on this. Looking at the long run, this is a genius move, a strategic move to sign up all the future depositors to become OCBC account holders. Yes, get them when they are young and once they have got use to OCBC and have an account with OCBC, they will remain there. Unless OCBC mess it up with their services or starts the nonsense of imposing a banking charge again for small savers. Just one generation, OCBC will sign up all the new adults as their account holders. What a smart move. 'Greed has no shame'

Dow down 280 pts on Friday

Looks like Dow is bend on spoiling our National Day celebration. Just when everything is turning around, it came crashing down again. And why should the worry of subprime housing loan in the US concern us? This is their domestic management of housing loans and even if it does affect us or the world market, it should be of a bearable nature when funds withdraw some investments out of other markets to cover their losses back home. And some banks here may also be exposed to these loans but should not cause any panic. Even losses of a few hundred millions are not a life of death situation. Our economy is booming and the construction industry is full of works for the two IRs. These are totally detached from the US housing loan woes. So are many industries around the world. But if funds join the fun and short the market down, all the markets will go down regardless of fundamentals. It is about time that Asian bourses detach itself from the domination of Dow and take a life of its own. The Chinese market has taken on a character of its own and without too much foreign fund manipulations it is able to perform on its own merits. We will have to hope that sensibilities are not too badly affected and Asian bourses remain firm on Monday. But it will need some encouragement from analysts and fund managers to make some affirmations that the fall in Dow need not be so deadly and some sectors of he economy are totally undisturbed by the housing loans trouble.

Malaysia heading towards a crisis

Malaysia is heading towards a crisis of unimaginable proportion, worst than May 13. This time it is not because they having too small an economic pie. It is the other way round, they want the whole cake and eat it. And to make matter worst, they are being led by two of the hottest firebrand and ambitious politicians, both trying to outdo each other to prove that they are worthy of the Premiership. Hishamuddin was hot, but he cannot hold a candle to Khairy who is bent to upstage him in all aspects. Khairy is going to prove himself to be a fiercer fighter for the Malay course. He is prepared to burn down anything in his path. On the other hand the MCA and MIC, after their shameless appeasement of UMNO in 1955 by giving in without a fight, is again hiding meekly in their closets without breathing a word of protest at all the changes that are being made to the detriments of the minority races. This time, with better organisation and more power in their hands, the bloodbath is going to be clinical and complete. The kris will be drawn and wash with blood if the firebrands are not stop in their path for personal glory.

Greed has no Shame

As we march down the road towards greed, as we celebrated the virtues and benefits of greed, it is time that we discard all the hypocrisies about goodness, generosity and a caring society. We should boldly embrace the positive aspects of greed and how it drives every man and woman to his best in chasing after more money. It is time to stop all the hypocritical acts of unproductive idealism. Singaporeans must be taught to cherish the culture of greed. That is how we can progress at an ever faster pace, financially and economically. We will have the best of everything money can buy. Anything that were claimed as virtues and money cannot buy were false virtues, mirages, the opium of the poor. There are ample proof and evidence that greed is the driving force in our growth. And everyone who is plainly displaying this by clinging onto whatever they have, title, position, influence and money, to get to more money for themselves, without shame. Singaporeans must be brave to tell the world that this is our culture and our formula for success.

38% return per annum since 2002

Who can match such a sterling performance by Temasek? Wealth added is $23 bil and net value of portfolio from $129 bil to $164 bil or $35 bil added. Thus the 38% return should be somewhere between $23b and $35b. Is it reasonable to say that for the last 5 years, 2002-7, the average return from investment is about $25b times 5 or $125b? Now this number may look too big. How about a ballpark figure of $100b? And this would mean that in 2002, the net portfolio was only $64b. Reasonable? Just guessing. Not going to crack my head on this.

Non Muslim Minister speaking up

Bernard Dompok, a Minister in the Prime Minister's Dept has spoken up against the Islamic State remark. Obviously Bumi Ministers have totally disregard the existence of many non muslims in East Malaysia and have taken their existence for granted. If Malaysia is an Islamic State, then East Malaysia too will come under Islamic principles. The natives and many East Malaysians are not muslims. Bernard Dompok said many people he knew would be very unhappy and they would 'have to contend with the issue for now.' Did he meant to contend the issue or to be contented with the issue for now? If they are to take on the issue now and fight it then there is hope that Malaysia will not become an Islamic State. If they are to be contented with the situation now, then it is as good as Malaysian becoming an Islamic State quitely and surely.

Lin Xue Ling interviewed Ngiam Tong Dow

Thank god, it was not Xue Ling Lin interviewed Tong Dow Ngiam. At least CNA got it right. Otherwise it would be Ms Xue interviewed Mr Tong. Lately all the Ah Beng Lims and Ah Lian Tans seems to have disappeared for a while, or taking cover. Or there will be a new surname, Mr Ah, to take note of. The gist of the interview where Ngiam Tong Dow was so fortunate to serve under two great pioneering leaders, Goh Keng Swee and Hon Sui Sen, was his comment on compassion. He said that in any system, there would be the 5% that would have problems and not making it and needed help. And the govt must have a little compassion to help these people. Yes, these are the lazy, useless people to some. To the kinder ones, these are the people that are less endowed, less gifted, handicapped or under privileged that have too many chains around them to run forward. Though it is the brutal truth that the able should be amply rewarded and be given the biggest share, such thoughts are very ungenerous. Coming from private individuals is ok. But from people in public offices is bad. Anyone in public service and thinks about how many more millions he should be getting and constantly trying ways to make sure that he will not be short changed should not be in public service. The public sector cannot have room for money minded individuals who have little compassion for the less able. Being in public service, they are expected to look at the whole picture and their policies, thinking and decisions must be inclusive of everyone in the country. They should not be thinking only of themselves and their great and clever friends. Compassion in our society today is showbiz. It is only for display over the big screen, to be seen but does not mean anything.

What is the US doing to help the S Koreans?

Are the US helping or doing the contrary, telling the Afghan govt to stand firm, stay the course and not give in to the Taleban demands? Are South Korean lives unimportant to the Americans? Aren't the South Koreans part of the Coalition of the Willing and deserve to some help from the Americans? If there is another death due to lack of American initiative to free the hostages, this will be like the Americans burning their bridge with the South Korean govt. And they will be kicked out of South Korea. There could be a mass outcry and uprising to kick the Americans out. The Americans better do something fast or be seen as abandoning their closest ally in the war.

The profit motive

When everything is about profit, nobility, idealism, selflessness, charity etc are no longer meaningful concepts. As we move towards a new century of selfish interest and wealth accumulation for the sake of wealth accumulation, we much stop teaching our children about charity, about noble deeds and acts of love, compassion or charity to fellow beans. We should not be hypocritical. These are only useful occasionally to give the public a false impression that one is generous, just a PR exercise. The professions of teaching, of healing the sick, when transform into money making machines, will lose their intrinsic meaning and nobility. Teachers will only teach more and put in more effort if the parents are willing to pay more. Medical professionals will only heal the sick and dying if they are willing to pay, and pay at a ransom. There is no qualms when making money is the only reason to do an act. And no one needs to apologise for it. It is the culture and mentality of the 21st Century. Sorry, can you afford to pay?

Prime Car Rental and Taxi Services

What is this Ginny comes lately trying to do? To spoil the market and make other companies look ridiculous? They are going to charge lower fare, by lower ing flag down rate. And any cost savings will be passed to drivers with lower rentals and flag down rates when they go into compressed natural gas which is cheaper and more efficient. But I don't mind. I will only flag for their taxis in the future. That's the way to go Prime.

Numbers to justify higher fares

SBS Transit quoted $67.4 mil needed for cost increases and rolling out of 100 new buses. SMRT quoted $9.6 mil increases in electricity and fuel and another $11 mil in GST and CPF contributions. The reported quarterly profits of the two companies were $16.4 mil and $32.4 mil respectively. These can be translated to an annual profit of $65.6 mil and $129.6 mil or thereabout. In the case of the SBS, the cost for the 100 buses can be spread over a few years and the profit would still put them in very good shape. In the case of SMRT, wow, $129.6 mil still not enough. Maybe they are right, without this privatisation for profit, they will remain inefficient and the services will be bad. Now with the emphasis on profit everything is good and bright, high profit, high efficiency and on the way towards a world class transport service organisation. If Singaporeans want good quality world class services, they must be prepared to pay more for it. And what is 1 to 3c? Surely these are nothing. And the increases are for their own good. It would be better if the increases are more, then the quality of the services will be better. They may get pipe in music, cold face towel, and pretty hostesses to say 'good morning sir', 'have a good day sir', in the future. And there will be no rushing or pushing or squeezing. Everyone will have a comfortable place to sit and read the papers, or maybe have a cup of tea also. Now that will be nice to pay for a little more.

Orchard Road ERP rates up

Effective 6 Aug, 10 gantries around the Orchard Road area will go up by 50c. So affordable. And for motorcycles, even less, only 25c. And buses and goods vehicles will only go up by 75c and $1. And good news, all other gantries will have no hikes. Singaporeans are so lucky that the rates are going up by so affordable amount during such good times. Now I will totally avoid Orchard Rd and spend more time polishing my car in the car park. Cars are meant to be parked in the car park. See my new hobby, car polishing car admiring.

Another Korean shot and more to come

So, the politicians are still riding on their high horses to let the balance 21 to be shot? Pity the mothers of these idiots. Mothers should not bear children that are as stupid as these Koreans. And anyone who thinks he is full of compassion and wants to lead any bunch of stupid people to a war torn country must first be shot.

SMRT's god damn right to raise fees

SMRT's god damn right to raise fees Despite the huge profits year after year, SMRT is going to ask for a fee hike, another affordable 1 to 3c. It is as if it is SMRT's god damn right to raise fee and make profit by just raising fees, without competition of course. There are many reasons why SMRT must not be allowed to think this way and get away with it. First, it is an essential service. Two, the infrastructure was laid using public money. Three, it is a monopoly. Four, It is pushing the cost of living higher for the lower income people. Five, the people just been hit by a 2% GST and the escalatiing of prices of basic necessities. Six, transportation is the like the blood flow of a person. It the flow is clogged up by higher cost, less people will be moving around and less social and economic activities will be the outcome. Lets see if there is any MP who will stand up to oppose this mentality of ever increasing fees. Let's see if there is any organisation, or labour movement to fight against this monopolistic business for the well being of the workers. Let's see if there is a public outcry. Let's see if someone will take the initiative to start another petition to register the public's disgust over the impending increase. Only a monopolistic business, and especially an essential service, can keep raising its fees to increase its profits.

Tough leaders and tough decisions

While the leaders of Afghanistan and South Korea are acting tough, and they are expected to live up to that image as strong leaders, that they will not yield under pressure, the fate of the 22 hostages hangs in a limbo. Heard that one more was shot last night. So 21 left. And at the rate it is going, the leaders can act tough for another 21 days before the ordeal is over. Great men think alike and behave alike. They will be remembered as strong and tough leaders. Stupid people need to be shot to learn a lesson in life. And they can be remembered, either as martyrs or fools.

Citizen journalism

It is reported that NowPublic, a citizen website in Vancouver, now has 120,000 contributing 'reporters' in more than 140 countries. Though the figure is definitely exaggerated, but even a 10% active contributors will mean a figure of 12,000. Thats very good. Redbeanforum and Mysingaporenews have quite a lot of readers and some contributors. It will be nice if everyone do a little reporting and contribution and we can grow a bit bigger. Everyone is a citizen journalist. It is not just reporting, but expressing a different view point on things and events. The age of citizen journalism is here. Technology has make it so convenient and efficient for anyone who has something to say to say it, without having to be vetted or edited to suit someone else agenda. Citizens must exploit this new tool to the fullest for personal development, satisfaction or to better the life of the people or the cities or countries they are living in. Gagging of public voices is a thing of the past.

Better quality public transport

So we are going to see better quality public transport and a transformation of the quality of life of the commuters. Travelling in public buses is now going sci fi with life information of bus arrival time. That's not all. Information will also tell whether the bus is wheelchair able. And since we are having such a sophisticated system, as a commuter, I would like to see more information provided. How about displaying how many empty seats available, the aircon temperature in the bus, the type of bus and the type of seats, cushion or plastic? Some may not be able to sit on hard plastic because of medical or physical conditions. We can add on more quality services later on. And with so many things to read on the screen, bus stops must be upgraded so that commuters can spend more time to enjoy the facility in comfort, eg air condition and pipe in music, to read books. Another thing that they must upgrade is the quality of the drivers. Oops, sorry, captains. Lets have something like airline captain standards, with nice manners and at least clean and nicely pressed uniforms, and with a captain's peak cap to go with the new image. And must send them for personal grooming courses so that they appear more like a captain. We will look quite futuristic as a city. Clean, green, sophisticated, hi tech, sci fi, and well groomed. Talking about making use of satellite technology to the fullest. It was reported that the first proposal cost $100 mil and the second was $40 mil. Both were scrapped because of cost and now this one is cheaper. But no figures given.

Retirement village in oil palm plantation

I was discussing with some investors on the viability of setting up retirement villages in Johore, inside oil palm plantations. The return would surely be much better than what oil palm can give, and faster. With low land and labour cost, it is an attractive proposition. The only hitch is security. How to keep the place safe and really safe that safety and security would never even be an issue, that safety and security can be taken as a given? For retirement villages, the residents may be rich, but old and feeble. They are very vulnerable and safety and security will be the number one concern. This is a comparative advantage that has yet to be exploited for financial gains.

Malaysia's comparative advantage

Najib is saying it again to reassure foreign, esp Singaporean investors, that the IDR is a long term investment and there will be no flip flops of policies again. I think the Malaysian govt knows very well the problems and issues and is trying to alleviate the fears of investors. But talk is one thing. It is actions and concrete rules and regulations that the investors are waiting. And Najib also understand the huge comparative advantage which Johore has vis a vis Singapore in terms of land and labour cost. The Malaysian govt should exploit this fully as the ridiculous land and property prices and rentals in Singapore would make Malaysia extremely attractive. Why are the Malaysians waiting? This is the time to compete aggressively with Singapore and wrestle as many investments as they can to Johore. And it is so easy if they can ruin in the parochial and kampong mentality of the local politicians and keep them at bay. A rich and prosperous Johore is good for everyone. And Johore stands to gain to become the most developed and industrialised and modern state of Malaysia. Only if they have the political will to grab the bull by the horns.

The beast of Cyberspace 5 govt agencies are going online to tap the power of the internet. They want to participate in feedbacks and two way communications with their customers. They must have seen the goodness and the evolving role of cyberspace and do not want to be missed out. The importance of cyberspace and internet as a communication tool are growing by the days. But the fear is always there. How to manage and control feedbacks and information, how to censor the undesirable, how to not hear the bad news? Political observer, Viswa Sadasivan said, '... a good starting ground could be sectors that are less "risky" and where the citizenry-government rules of engagement are 'less rigid", such as sports, the environment and tourism.' This fear of the cyber beast is frightening. Any wrong move will see them being devour to pieces by the beast. Got to tread gently. So frightening.

The changing and unchanging political dynamics

For more than 40 years, the political dynamics and the way politics are played out have hardly changed here. Like it or not, it is a system based on a powerful personality dominating all political decisions and policies. Once decided, there it goes. Right or wrong, good or bad, let's move on. It looks so simple and easy to run this place. The same pattern of a domineering leader at the top was also the case for Malaysia and Indonesia. There were Mahathir and Suharto, all very powerful personalities that do not allow anyone to mess around with them. And between these three key players, many things could be done, deals struck, just by their own wheelings and dealings. Between LKY and Suharto, they have reached a certain understanding and would honour their agreements. In the case of Mahathir, though he had all the power to make deals, at the later stage of his political life he came out as one that would break deals or interpret them in whatever ways he wanted or to his benefit. There is nothing that is cast in stone. Everything is changeable. That was the political scene then. The same pattern and style of politics still exist in the little island but no more in Malaysia and Indonesia. They have changed with the passing of Mahathir and Suharto. More pressure groups are getting stronger and getting heard. More demands are made on their leaders that prevent them from exercising their power as PM or President. They no longer have the absolute powers of their predecessors. This is frustrating to Singapore. Making deals are no longer between two personalities, a four eye meeting to solve all issues. Things are going to be dragged on and on and nothing done. This is the new dynamics of the region. We have remained quite the same in the way we do things. The rest have changed. How to make deals anymore?

The Seniors Game

LKY is roaming the streets of Jakarta. And we see a smiling Suharto meeting his old friends as if nothing has changed. Time stood still. It was yesterday once more. It will be fun if Mahathir was there too. The reappearance of the seniors give one a very strange feeling. When they are not around, the yudhoyono, Sudarsono and the who dunno, and their counterparts here all look so real, big men, national leaders. But in the presence of the seniors, they appear so young, so youthful, so fresh, like freshmen. The faces of the seniors are too domineering and too overwhelming for the young leaders. They have a presence that cannot be matched by the new leaders.

Sunday morning is to think about impossibilities

What would be best for Malaysia in the future? Or what could become of Malaysia? The thinkings or aspirations are quite diverse. The country at the moment is dominated by the views and interests of a minority of religious fundamentalists. And if they are to have a free hand to do what they like, Malaysia is likely to become another Iran or Iraq or at best a Saudi Arabia. Anything else will be full of contradictions and tension. How would this affect the rest of the population, those who would want a more secular and modern Malaysia, travelling in the comfort of the best limousines as opposed to those who would prefer to ride on a heavily carpetted camel back? The modernistic group would include the progressive bumis as well as many who have been accustomed to the good life of western technical and scientific societies. And the other racial minorities are not that small a group that can simply disappeared. Then there are the East Malaysian states living in the backwaters of Malaysian economic and political strifes. They have very little affinity to be Malaysians even to these days. They are different and would want to run their own lives and create their own future. Or maybe my reading is wrong and they too would want an Islamic state and live under Islamic principles and fundamentals. They have not made any noises with regards to the comments that Malaysia is an Islamic state. Or they have and not reported. There are thus three distinct groups with totally irreconcilable interests and outlooks for the future of Malaysia and there is no accommodation if or middle path. It is only a matter of time for these groups to gravitate further and further apart from each other and each will have their distinct characteristics and values. Provided no force is used to coerce any of the group to become like another group. What we may see is a federation of the north eastern states of Kedah, Kelantan Trengganu and Pahang plus the four southern states of Thailand, Narathiwat, Pattani, Suratthani and Songkla, breaking away to form their own Islamic state. And the East Malaysian states will break away to become a new independent country. The rest of the western and southern Malaysian states may choose to become more secular and moderate from the religious point of view and developed along the lines of western countries. Then some will use the slogan that Allah has moved northeast and the religious will move in that direction. If there is an agreement that the three new entities should leave each other to chart their own destinies and do not meddle in each other's internal affair, we could see the emergence of three new countries that are more coherent and with their people having more similar dreams and more likely to sleep more at peace. Just a Sunday morning indulgence in fantasy.

MSM says, Lucky Singaporeans

Singaporeans are splurging in Lamborghini, expensive cosmetics and paying mindless prices for seasonal food, $888 for a few pieces of mooncakes. And a billionaire can live in a whole condo, $100 million worth of it, for just 3 persons and all his expensive car collection. And better still, prices or inflation is stable, hardly any change. And all the complaints about Singapore rental going too high is nonsense. The foreigners now agree that Singapore rental is reasonable and 10 years behind Hongkong. In a way this is bad. How can we be lagging behind Hongkong by 10 years? Plenty of room to catch up. So, with good times here, what nonsense are Singaporeans complaining about a plate of noodle or rice going up by 50c or transport fare going up by another 3c or 5c? The proof, Singaporeans can now celebrate National Days for two months. I think we will not beat the Latin Americans in merry making. Singaporeans are crazy. All having big fat pay and worrying about a few cents increases here and there and making a mountain out of a mole hill.

The 23 South Korean sacrifice

The world is made of many suckers and naive or youthful idealism. These Koreans believe in a world of goodness, to do goodness without knowing that for every goodness in this world there is an equal wickedness out there. And they may have to pay for their stupidity with their lives. And the pain is at home, their love ones. And of course the South Korean govt saw its balls stuck in a mouse trap. This is a stark and brutal lesson that Singaporeans must learn and I hope the govt has put a ban to prevent naive Singaporeans from walking the same path to martyrdom. In my conversation with some Singaporeans, there is a little group that lauds the act and is celebrating their impending status as martyrs. They have only praise and adoration for this group of silly Koreans. And do not be surprised that some Singaporeans may be planning a similar mission to save the Afghans or the Iraqis.

notable quotes - LKY on Indon media

'The Indonesian media is a spontaneous combustion engine that responds to what sells, what's news, what the political parties want to create as news. then you chase the news.' LKY Now different or similar is the Indonesian media to our own media?

The uncaring and undeserving super talents

Where are our super talents found? In political offices, in ministries, stats boards and GLCs. These are the organisations where most of the super talents are employed. They are employed by Temasek, EDB, GIC, DBS, SIA, Keppel, PSA, Singapore Engineering, Sembawang Shipyard, etc etc and paid like super talents should be paid. What happens if there were no Temasek, EDB and the long list of GLCs? What happens if the first two generations of Singaporeans did not do what they did and none of these organisations were around to provide the jobs? From the political leaders, civil servants, the entrepreneurs, the engineers, the business community, the industrialists, the cheap labour in the factories, the construction workers who helped to build the infrastructure, if all these nuts and bolts, the cogs and the screws, did not play their parts, who would be able to provide jobs for our super talents to pay themselves super talent salaries and brandish themselves as the talents, the successful and able and clever Singaporeans? Today's Singapore is the proverbial giant tree planted by the early pioneers and give shade to all beneath it. Without this giant tree, I wonder how many organisations will be able to provide super talent jobs and pay super talent salaries to the Singapore brand of super talents? Now some of the super talents are rubbishing the little fellows and telling them that they deserve to be in the low station of life. That they are the failures and should not be complaining. Without all these low talents or no talents, without the arsehole, can there be a place for the super talents? Would these super talents be able to create and generate their own wealth as entrepreneurs and wealth creators? Or are they just good enough to be employees, resting comfortably under the shade of the giant tree planted by the pioneering generations? Shall we remember the arsehole and appreciate his contribution to the whole prosperity?

Asean, the fools have it

Asean was conceived to bring small countries together as a group to compete against the world and keep the big powers at bay, politically and economically. But one thing that they must settle first is their internal bickering. If Asean countries cannot live and cooperate with each other, what chance to they have when competing with the giants and bigger countries? But there are so many fools within Asean that constantly try to cripple the organisation. And one of the sore point is the little Red Dot. In their own bizarre and simplistic underdeveloped mindset, I am using strong language here, they have painted this harmless little dot into a monster to fear. Really, what can the little Red Dot do to any of the countries in Asean? Conquer and colonise them? How foolish. And for their foolish thoughts, they make it so difficult for Singapore to invest in their countries. Do they really believe that it is better to have the big powers to invest in them? With the little dot, they know that we cannot bully them in any way. We have to play by their rules. On the other hand the big powers will have nothing of their nonsenses. If the big powers are not happy, they will take out the cane and whip them, real hard. They better remember very clearly that the big powers were the ones who had colonised them and still have the capability to do so. Not the little Red Dot. When will the fools get wiser? Or are they so happy and contented to live in the backwaters of the world economic activities and believing in their rural fantasy that Singapore is giant demon?

The Risk of Stockbroking agents

Stockbroking agents, housing agents, insurance agents, taxi drivers all have one thing in common. They provide jobs to the people. Killing these professions will only bring more problems to society and anger against those whose minds are set to destroy these jobs. Some think that these are cushy jobs that pay very well, and do not need much talent or effort. How wrong they are, and how ignorant. Every job comes with their own problems and risks. In the stockbroking industry, the people that are likely to go bust are the top remisiers. In good times they made very good money that people will get green eyes. But all it takes is for the market to turn against them. Many top remisiers went broke when their clients incurred huge losses and disappeared or declared themselves bankrupt, leaving the remisiers to pay for their debt. This is one of the biggest risks that remisiers faced, bad debt or bad clients. The next big risk is human error. Because every push of the button can be a deal of millions of dollars, a lapse of attention is all it takes to be down hundreds of thousands or millions. And making such mistakes is so easy. Our minds often play punks with us. Several remisiers worked up in the money and the first thing they hit was the button and instantly they are in the red, losing thousands of dollars. No joke. How to live with a $300k or $500k loss just by pushing a button? The next risk is infringement on rules and regulations and the fines are very heavy for the smallest transgression. With the miserable commission it is just not worth the risk. Then there are the bad clients who put the blames on remisiers when it was their own fault. And this put a lot of pressure on the remisiers, damaging their credibility and even risking being suspended from business. The risk that the remisiers are taking is not commensurated with the miserable commission they are getting. It is not a simple push button job. They are many rules and regulations to remember and all the stocks to look out for. One day they can be laughing to the bank. The next morning they may be crying for help. Do not be envious of the remisiers.

Educating Tribal Chiefs about honour and trust

LKY is on an education mission to Indonesia to educate the tribal chiefs about honour and obligations. This all started with the signing of the Extradition Treaty and Defence Cooperation Agreement, DCAET. The Indonesian politicians were told of the consequences of backing out of an international agreement signed voluntarily between two govts after thorough negotiations. This kind of attitude and precedents have dire consequences. LKY should remind them of the two glaring examples, Malaysia and Indonesia. Once the trust is lost, it will take a long time to rebuild and regain it. Malaysia was the first culprit of changing their laws and applied them retroactively to the detriment of foreigners. They thought they were smart. Now they are living with the consequences of all their backtracking and volte face in their commitments to international practices and the rule of law. The IDR is going to be hanged until assurance be given that these kampong mentality and practices will not be repeated and foreign investments are protected by law. Otherwise who is going to pump in millions of dollars of investment into the country? Thailand is a newcomer to this game of highhandedness and unravelling of legal practices and obligations. They tried to forcibly recover the assets of Shinsat after being sold to Singapore. All at once the international community stood up and held back all their investment plans. It shocked the military junta and they are backtracking to correct their error. But the investment funds are not coming in so fast until they really affirmed that this is not going to be the way Thailand conduct its business. Do the tribal chiefs in Indonesia think they can get away with their tribal ways and still think Singapore and the foreign communities will pump money into Indonesia? Do they really think that Singapore can be blackmailed or has its arms twisted by them? They can kiss their Batam, Bintang and Karimum Economic Zones goodbye if they don't play by international law and practices. Like it or not, they will have to learn to live by the norms of a modern world.

Myth 155 Things Singaporeans believe in

Things Singaporeans believe in Singaporeans are believed to believe in these things. 1. The people fully support the high salaries of ministers and the reasons for it. 2. HDB flats, medical fees, and education are heavily subsidised. 3. The GST increase is to help the poorer Singaporeans and good for them. 4. Increasing the population to 6 million is good for the country. 5. Singaporeans lack talent and need foreign talents to help them to grow. 6. Inflation is very low. 7. All price and fee increases are affordable. 8. They will never save enough for their retirement. 9. The money in the CPF is their money. 10. They are better off than yesterday. 11. More good years to come. 12. No one is left behind. 13. We are moving forward together. 14. Singaporeans are honest and incorruptible when they are paid very well. 15. We have the best political system in the world. 16. They believe everything they read in the msm. 17. What else do Singaporeans believe in?

Political Parties Manifesto 8

Would there be a party who would state it clearly in their manifesto that they will not make indecent profit from the people for providing essential services and basic necessities? Would they declare that the costing for subsidies like medical fees, education and housing be on an open formula where profits are based on replacement costs plus? Would any political party dare to be sincerely transparent in their transparency on costing subsidies?

Inflation up 2% next year

Johnson Choo wrote in Today about inflation probably hitting a record 2% next year. Statistically, depending on the formula and the basket of goods, the number may be right. But with 2% increase in GST and the way prices are shooting to the sky, who will ever believe that inflation is only 2%? This morning I bought a pack of horse hoof pastry, made in Malaysia, in pink plastic bag without brand. It costs $4! It was only a couple of months back when it cost $2.20. I took out both my hands and try to use my fingers to count how many percent increase was that. Even with my toes, still not even for the change. Anyone still believe that everything is ok? Johnson added, 'Even so, to the man in the street, the pinch may feel harder than the cold inflation numbers would indicate.' The GST offset will definitely help the poorer Singaporeans. Their life is getting better.

Myth 154

Professional, Ethical and Honourable Managers LKY recently talked about good leaders being men of honour who will mean what they said and deliver what they said. What he said is basically the qualities of a decent man which can also be seen as the good qualities of managers. How do Singaporean managers fair in these 3 criteria? There are definitely the good and the bad managers. I have seen many who are neither professional, ethical nor honourable. An ethical manager is expected to make decisions that are ethically correct and fair to their employees and staff. They cannot short change or cheat their employees. That is a fundamental requirement not only of managers but any decent man in any position. And at times when decisions came from the top, from head office, that are ethically or morally wrong, as professional managers, they must say no to them, reason it out with HQ that the decisions are bad decisions. Many choose to keep quiet and follow the orders. Not to rock the boat. Why should they. Not sure if you can call them smart managers. The third point is of honour. Any man that is worth being called a man must honour what he said. How often when confronted with what they said, many managers will pretend that they are dumbfounded. What? Who said that? I never said that! They will not even remember what they said or committed. And one good way to prevent themselves from being caught and can't back out from it is not to have anything in writing. Not even minutes of meetings. Definitely not in emails also. The best summary for such managers is the 3K Manager, Kiasu, Kiasi and Kiamistake. They are anything but professional, ethical and honourable.

Time to cane teachers and principals

Read about the case of a foreign student being taunted and bullied until he broke down. First time student was counselled and bullies punished. Not sure how serious was the punishment but it seemed that the bullies were having a great time bullying the student again. This time the poor student went berserk and attacked the bully again. Even after that he was uncontrollable. It was obvious that the bullying was not a simple case of friendly taunting between pals. Things were thrown at the student and all kinds of unfriendly and insulting remarks were used to attack him. How could this be allowed to go on and on to the point where the poor student could go mad? This is uttterly irresponsible on the part of the teachers and principle. They should be caned in the assembly hall. It is so shameful that our education system can allowed such abuses to go on and on and hurt a student physically, mentally and emotionally. The experience is so traumatic for a young man that is growing up. He will grow up hating all those he met here and Singapore.

Myth 153 Annual increment

Annual increment In compensation for employees, people have taken it for granted that there must be an annual increment every year, good time or bad time. So every employee expects some kinds of increment as if it is an entitlement. Only during really bad time that annual increment could be waived. This expectation is quite natural given the fact that many employees are being paid just about enough to keep them alive. They needed the monthly salary to live on, without much savings to last more than a couple of months. And with inflation and rises in the prices of everything, if there is no increment, they are actually getting worst off. They may be getting the same income, but lower purchasing power. Thus, an annual increment to a large extent will help to maintain a certain standard of living and purchasing power. Now this expectation is being extended to the CEOs and top management whose compensation package is not only huge beyond imagination, but also with all kinds of perks and incentives. Even these turkeys expect a payrise every year when the cost of living really hardly affect their lifestyle. Then the other fallacy is to peg annual increments in percentage terms. You can imagine how much is 10% to someone whose income is $1 million or $10 million. This is the myth in human resource compensation that has been perpetuated and will be likely to be continued forever. After all the CEOs are not going to say no. More likely they will insist that the practice should be continued in their best interests.

Hospital bills up by 10% to 30%

Across the board increases of hospital bills from 2005 to 2006. Average bill size of C wards gone up from $858 to $1112, B2 wards from $1094 to $1,284, B1 from $2,736 to $3193 and A wards from $3473 to $3830. Maybe should take the numbers with a pinch of salt and wait for someone to verify that they are accurate, huh? And 1% of C ward patients paid $9,071 while B2 paid $8.813. Now this definitely requires more checking as the numbers are unnatural and unbecoming. The good news is that all these are still affordable. And the Boon Wan is looking closely at it to monitor and manage the inflation of medical costs. Who is causing the inflation? Although they are claimed to be privately run hospitals, operating for profit I supposed, they are in many ways a monopoly or a cartel. Can anyone force them to increase their cost and fees?

Don't comment and can't report

Another dark day for msm for reporting on data that were wrong. And it took a blogger, Alex Au of Yawning Bread to do his own checking to confirm that the numbers published were indeed a mistake. Rental price of a 3 room flat in Jurong East was reported to be $2,500 but actually it was for two adjoining units. What happens to the professionalism and the checkings and double checkings to ensure accurate reporting that were bragged by the professionals as their trade mark for excellence? We in cyberspace are so sloppy and lucky that we can say anything without being professional and accurate. The other point highlighted by this case is that the two units were let out to foreign workers. Any problem? If there is no control and 10 to 20 foreign workers were squeezed into the two units, how would it affect the security and social aspects of residents living there? Who would want to leave their aged, housewives and young daughters in the midst of strangers? Would the authority like to look into this?

The Malaysian Paradox

Malaysia is probably the only country in the world where the govt openly admits that the bumiputras are of lesser talent than the other minorities. And after 40 years of NEP, affirmative actions and handouts, they have proven that this theory is true. They are still behind the other minority races. And giving up special privileges will mean that they will fall further behind again. Either way, like Mahathir said, they will fall behind. But Malaysia has high ambition to be a developed country. How then can Malaysia ever make it when the people are so untalented? To achieve a developed country status, the people must be as talented as the people in developed countries. But in Malaysia, the bumiputras are even behind the Chinese and Indians, who are far from being first world countries. And if they cannot even keep up with them, how to ever dream of being like the Europeans or the Japanese? Or perhaps Malaysia can become a first world country without having to work for it, just depend on NEP? This is the greatest Malaysian Paradox. The bumiputras believe themselves that they will never make it, that they are by nature slow. Why don’t the bumiputras stand up and prove that they are not really a backward people? That they can compete with other people on the same level playing field, domestically and internationally. Or they still need more weaning time? If it is true that they are backward, then their dream of being a first world country will forever be a dream. Now, is their assumption of being backward true or real?

The last hurrah

In a couple of weeks we will be celebrating our National Day in big time. Two months to rejoice. With so many people making so much money and many more to come, it is timely to make this a big bang. On the other extreme, with all the costs shooting up, not just 2% more because of GST, but many times more, many people have already used up their GST rebates and their savings are running dry again. It had been reported that the first thing some of these people did when they received their rebates was to pay off all their debts and mortgage payments which they have not paid for months. So the windfall of a few hundred bucks disappeared quickly, though a temporary relief. How could these people go on before the next rebate kicks in? And this time round, with practically every little thing up, and the rebate gone, it is going to be a last hurrah. It is going to be tougher, no doubt about that.

Spreading a second wing

The news of Temasek's investment in Barclay's Bank and $3 billion should greet Singaporeans as good news though there will be sceptics wondering whether we will lose the money if it does not turn out well. All investment comes with risk especially in foreign land where we have very little control over their political and legal systems. Such investments are welcome as there is really very little room to grow in our little corner. The world must be our oyster. Having said that, as a citizen who is seeing his CPF money being deferred from withdrawal till dunno when, I have my own concerns. I hope some parliamentarians will raise some questions in Parliament to comfort the people on their CPF money and that there is no relation between foreign investment and the deferment of the withdrawal of their CPF. The question is to clarify that people are not planning their big investments with the expectation that there is a cheap CPF fund available and that the money in the CPF should be kept as long as possible for their investment plans. Any CPF fund available should be incidental and be used only because it happens to be there and not the other way round, that the CPF fund must be made available for foreign investment. The CPF money is the people's money and must be quickly returned to their owners without anyone harbouring any strange ideas on how to hold them back and use them. The assurance that this is not the case is welcomed.

We are first world, we believe in the tooth

If we cannot believe in tooth, or if we believe in tooth, or we don't care even if it is tooth? How far down the abyss are we prepared to go as a first world country to allow ourselves to be so deceived? It is so ridiculous for anyone to believe in untooth. It is a different matter for a nation to believe in untooth or let the people believe in untooth and do nothing about it. Are we saying that some people are allowed to propagate untooth? Or have we degenerated to the level of the third world intelligence? Uniquely Singapore

The pincer squeeze

Singaporeans are just like a nut in between two pincers, the rising cost of living that makes us less competitive and Sing $ that gets to buy lesser things at home. People who think that their salaries are going up, if not in big percentages are actually getting a pay cut. How far can this go on before we wake up and say shit, what is happening? The next round of retrenchment when companies start to move out of Singapore, when jobs are gone, will be very serious when there is no income and prices of everything at sky high.

MSM accused of sensationalisation

Not I say one hor. I only read in the Today paper this morning that msm has been sensationalising the prices of the property market by publishing a one sided picture without qualification or any supplementary comments. And this has led to some saying that it is sensationalising the issue. I thought our msm were objective and all reports were carefully written in a mild, calm and balanced manner. Just plain reporting of facts that have been confirmed and deemed to be accurate. I think if there is any sensationalistion of issues, it must be in cyberspace where all the postings were anything but professional.

How proactive are we?

Today the hot topic is property prices shooting up, including rental of HDB flats. And the govt is saying don't worry, a lot of supply are coming downstream. It was only a few months ago when we heard of HDB over built and a lot of flats are still not sold. We also heard of changes in HDB policies not to build bigger flats and then to build bigger flats. If we are really proactive, we should be anticipating all the demographic changes coming our way and all the demand and supply issues. All the information are generated in the msm. Even the public knew about all the influx of foreigners and the 6 million population. Why are we reacting and trying to coop with all the impending changes instead of being ready for them without any surprises? Oh we are still planning and planning and planning ahead.

TV broadcasting - Time for liberalisation

With Singtel and Starhub providing a full range of programmes in competition with Media Corp, and with more broadcasters and programme providers coming into the fray, it is time to discard the archaic TV Licensing Scheme where consumers have to pay $110 to a sole provider whose programmes are hardly what the consumers want. Let the consumers have the choice of who to pay the $110 to. Oh, it is to the govt, but at least let the consumers have the choice to pick the service providers. Why should consumers pay $110 for Media Corp programmes that they don't watch and pay extra to watch programmes from other service providers? Doesn't make sense right?

Generation aXed - a thought provoking article

The above title of an article by Cheong Suk Wai in the Sunday Times is a very interesting article to read. She started by talking about this guy, I presumed must be a man, telling her that the country or the world will be a better place without the labourers or labourer's genes. The crux of this guy's theory is that good genes produce good genes. A very familiar line of thought. Then she cheekily quoted this Prof Wald who was asked to donate his sperm to the sperm bank for Nobel Prize winners so that the world will have more good genes. And the professor's reply was that his Nobel Prize genes came from a poor tailor. His own genes only produced two guitarists. Reading the article at face value is funny and a bit of an anti climax. But read in between the lines and the messages and all its nuances come through quite clearly. And there are many messages to be discovered. This is a real treasure hunt. One of the key message can be traced from these quotes: 'Now I don't know what he made of me, but my stunned silence throughout his tirade did not mean I agreed with it.' This is very Singaporean. Many audacious things happened recently, and all we hear is silence. 'But time and tribulation have taught me that the best response to such head scratching pronouncements is to say what you know in the very pit of your gut to be right and real.' What Suk Wai was saying is that you must be polite and say nicely to him but not to offend him or make him think that he is really an idiot. So her way of replying to the guy is this: 'What would competition be like when there are only good genes to compete against other good genes?' She did not talk back or demonstrate violently. She did not tell him he was wrong. She just asked a few plain questions. Hmmm, very similar to what I have been doing all these while.

Ranking a World Class govt

While we cherish and got delighted and gratified by all the number One rankings showered upon us, it is about time we do something for ourselves. Other countries have their private agenda for ranking countries to achieve their covert objectives. The one that comes out very clearly is the ranking of world class universities. By insisting in the goodness of having foreigners, academic staff and students, as good, highly desirable and a pre requisite to quality education and a high ranking, countries that feel insecure and needed a high ranking to boost up their egos will easily succumb to such seductions and import more foreigner academic staff and paid them handsomely to make their rankings look good. So, with a simple survey ranking, many academics were in hot demand all over the world. And the unwritten truth is that good academics are western academics. So the world has helped to get more western academics employed and with healthy bank accounts. It is practically a one way traffic as not many Asians or Africans will be good enough to be employed in western universities. Some may call this neo colonialism of the educated minds. A ranking of govts as world class, not first class, can also adopt some of the criteria used for world class universities. Needless to say, the foreign component is important. So govt will be encouraged to recruit foreigners into their ranks to boost the fertile mindsets of their contemporaries. Having cross fertilisation of ideas will definitely stimulate more innovative and novel thinking in govt. It is definitely better than incestuous thoughts. The other advantage is that with world govt feeling the need to employ foreigners into their ranks to be ranked among the tops, there will be more exchanges of people and ideas and this will bring the world closer as one big family. The seed of a world govt and international citizenship may be born through such a survey. Singapore will have a great advantage in having its fine politicians being recruited not only to third world countries but also first world countries. We will then be able to export our world class expertise in govt to the world. And we will benefit by having some of the best political brains in our govt. No politicians can resist the temptation of being paid world best salaries to be a political leader here. And it will not be a surprise to have Bush, Blair, Chirac, Putin, Abe all queuing with their CVs in hand at our doorstep. We will have truly world best politicians governing us.

Myth 152

Saving not enough It is a myth that people will never save enough for their retirement. It is like the insurance salesperson coming to you every other day to tell you that you are under covered and needed more insurance even if you have several millions covered. What is enough or not enough is very subjective. People earning several millions will say they are not having enough. So is someone earning $600. How much is enough is not dependent on how much one saved but how much one wants to spend. If one spends within his means, any reasonable amount is enough. And with other sources of income or savings, even $30k savings are more than enough for one who does not need to spend as he is fully provided for. For someone who wants to sail first class around the world for the rest of his life, several millions may not be enough for his lifestyle. We shall not dictate to the people on what is enough or not enough. It is subjective and personal and not a science. Why are we being forced to save so much and for who?