Just dig a hole

All it needs is for someone to dig a hole that is big enough. It could be an accident, but more often than not, due to bad judgments or bad policies, and a big hole is dug. This would lead to a series of attempts and more bad policies and decisions to cover the big hole. And what it gets is more holes, or the big hole getting bigger.

Our problem with the CPF savings getting out of our reach is one good example. The hole was dug by someone, somewhere, some times back, and no matter how they tried, it is getting bigger and bigger.

Our population fracas too is another big hole started with population control to population decontrol and influx of foreigners.

Our housing problems, some still living in their dreams, will eventually sink everyone, when the bubble bursts. It started with under building or not building to squeeze the supply. But supply there was as seen from the recent policy of ramping up the building programme. Maybe they are holding back the supply to push up prices to increase revenue, or to save for the private property market. There is no way to bring down the prices anymore without causing a bigger hole.

And the uncoordinated flooding of the island with foreigners added to the frantic craze to chase properties. And it started a process, one silly policy or scheme leading to more silly policies and schemes, and all ended up in a bind. All these were unnecessary. It all started with a big hole or a bad policy to start with.

The high cost of living too, started when money was stuffed into the pockets of many people in some quarters, when ramping up property prices was seen as good, a blessing.

The congestion, high demands for goods and services, cars, properties, space, hospitals, schools, roads etc etc, all started with one big bad policy.

Today, they are starting to dig another one, oblivious to all the problems that it is already causing. The experts see that there is no other way except to grow the population for economic growth and viability. If the same kind of thinking is pervasive, the world’s population will be 10 billion in no time. If every country is growing its population relentlessly, then what?

According to these experts, population growth is the answer to everything. Yes, fully agree. It will lead to rapid economic growth, rapid consumption of goods and services, resources and all things. It will lead to rapid destruction of the earth and rapid death. Try imagine how a glutton eats himself to death, growing to enormous size with an equally big appetite to eat more and more. When the world is furiously competing for limited resources to feed its growing population, one thing will surely happen.

Say NO to Manchester United

Below is a letter by Narayana Narayana to the press appealing against the listing of this IPO in our stock market. I fully agree with his view and how the football racket is robbing the innocent sports fans and investors through their outrageous compensation scheme. This is no different from the thieves in Wall Streets and other financial institutions, turning innocent investors money placed in their hands into their own personal accounts.

Stock exchanges have behaved irresponsibly in many countries by recklessly accepting IPO listings to improve their own bottom lines and leaving the innocent investors clean and dry for failed and dubious companies. The way the football clubs are paying themselves crazy, like the fund managers and bankers of Wall Street tells one thing, their business is not sustainable.

Any institutions, govt agencies, that pay themselves crazy are suspects as they need to find more and more money to do that. The more they pay themselves, the more money they need to patch up the holes.

The Mailbag Editor,
The Business Times,
Singapore.

6th September 2011

Sir,

The projected US$1 billion Manchester United IPO has come in for regular discussion in your columns recently, with a fair
amount of speculation on what the terms of public subscription will likely be. SGX has categorically put to rest the suggestion
of a dual-class share structure.So far so good.

It is obviously premature at this still early stage to comment on how the IPO.will be pitched.

But what seems undeniable is that the pressing purpose of the IPO is to raise US$1 billion, and asap, 'to reduce the club's
debt burden and finance player purchases' (BT 26 Aug 2011) It was also reported that the club had 'successfully raised L504m
just last year and further piled up L478m in debt by March' (this year). That is no small beer. Intending subscribers are likely to
seriously ponder how that money was spent. An adviser on IPOs of other football clubs has offered the insightful explanation of
"(Man U's) massive debt burden, the massive payroll, and the need to replace certain ageing players'.

Against such a background, it would be interesting, and prudent for nvestors to learn what returns &/or investment merits the
IPO.will offer them.

In this context it may be relevant, and instructive, to revisit the history of IPOs in Singapore.

It was 60 years ago that the first of them, Metal Box, came on the scene. It was in fact a private placing by Fraser & Co., then
indubitably Numero Uno among stockbrokers in Singapore/Malaya. Far from a desperate need for capital, the issue, at $1.20,
promised a dividend of 10 cents or a return on capital of 8.33%. Banks then lent money at no more than 5% p.a., and the
premium effectively made up for putting money into equity stocks, then termed 'risk capital'..

Other well-established British companies trickled in, but uniformly and in common, they all promisd, and faithfully delivered,
handsome returns well over what banks offered for deposits, as well as they themselves lent out. By and large, those
early IPOs all offered good Investment opportunities from companies of repute.

In recent years, the tendency however has been to offer 'growth' as pitted against 'return', with IPOs pitched to 'what the
market would comfortably (or even uncomfortably?)' bear'. The focus of subscribers too has changed from 'return on
invested capital' to 'capital appreciation' with that last hopefully fast and large, yield be hanged..Abysmal and historically
low interest rates too have been a catalyst in promoting a 'how much can I lose after all?' mindset.

One could say that public appetite for IPOs has waned appreciably in recent months.In the particular case of Man U and
its IPO, media hype has focused on the club's large 'Asian fan support base' estimated at some 190 million. How mamy of
them are knowledgeble of stocks and the stock market to apply for IPO shares is arguably a separate issue. Sentiment
could no doubt sway some committed fans, but hard-nosed investors are likely to adopt a more sober stance.

There appears to be jubilation in some camps that Singapore has again stolen a march on its arch rival Hongkong.in this issue.

Similar euphoria erupted just a few months back when SGX landed Hutchison Port Holdings' IPO in preference to its home
base of Hongkong. However taking into consideration its subsequent lack-lustre performance, and that its current market
price is languishing one-third below its IPO price (without even factoring in another 5% depreciation through currency loss) it
can only be seen as a Pyrrhic victory.What was then touted as a 'plum catch' has in the event turned out to be a 'sour plum'
at least where the investing public are concerend. But seen from the other side of the fence, it was a veritable coup for the
promoters and all others involved in the IPO, and of course SGX as well.

Given the size of the Man U IPO, it looks as if strong institutional support will be required, as generally 'sentiment' by itself is not
a particularly strong point among retail investors. Whether the magnet behind the brand name of 'Man U' will of itself pull in
sufficient numbers will be seen when the IPO rolls out.

Yours etc.,

Narayana Narayana
Singapore 469297
Tel: 64461342

Notable quote by Dr Yik Keng Yeong

‘Beware of political opportunists online.’ By Dr Yik Keng Yeong

Redbean’s quote.
‘Beware of political opportunists in the main media.’

Still squeezed out of public housing

Lim Chong Wee wrote to the ST that he still could not qualify for Exec Condo when there was another big article claiming that it is so EC to buy Exec Condo now than DBSS. Yes they have raised the ceiling to $12k which technically means that Lim Chong Wee will now qualify. But there is another clause about eligible only after 30 mths from selling a private property.

Lim is one of those poor rich guys who was forced to take a hefty loan to buy private market when his income was deemed to be rich enough to live in private properties. The truth is that with $10k or $12k, and taking a huge loan, these people are finding it a squeeze. Their only usefulness is to help to inflate the prices of private properties to make their owners get richer.

In the mean time they will have to empty every cent in their CPF to afford those ridiculous prices. And these will be the people ended with nothing to withdraw from their CPF savings when they retired. And no body know why they have little savings! One big chunk taken away by the property and another big chunk by minimum sum and Medisave. The candle burns at both ends.

Of course he is complaining. But to the very rich, they want to force this group of people to think they are rich and must feed on caviar and foie gras. Poor buggers, caught in a cruel scheme. The ugly reality is that going to private properties will put a tremendous strain on them. They look good with their private addresses and cars, but not much left for their retirement.

The really rich are those earning $50k or more monthly. Those in the $10k to $20K bracket could live very comfortably if not being forced by the system and some dickheads to spend every cent they earned. They are not supposed to be thrifty, to be prudent, to save for their children and old age. They must spend and spend to help the economy and support the private property market for the dickheads to get richer.

This is the perfect middle class squeeze. Not because they have to support parents and children, but to support the private property market.

The intriguing protocol list

A state’s protocol list is a simple ranking of the seniority of govt officials which will then determine who they meet, where they stand or where they sit. In our case we have the President listed as number one followed by the Prime Minister, the Chief Justice and other ministers. In a way it is also the pecking order of the house and taken very seriously. Don’t mix this with the protocol list coming from Caldecot Hill where Jack Neo can be listed as the President, Mark Lee as the Prime Minister or Zoe Tay as the number one.

With the changing of the guards after the last GE, things started to look a bit complicated and messy with the stepping down of some senior ministers to become officially just an MP. As MPs, their standing in the protocol list will drop several rungs and they will no longer be in the limelight. But this may not be true in our case and how much real political power they wield could only be seen in an official function.

The National Day Celebration was the first public event to see who is the top dog and who are just members of a team. I missed this event and did not witness the changes. Then we have the swearing in of the new President and I managed to catch a few glimpses over the news. I saw MP Lim Boon Heng sitting about 15 or 20 rows behind the ministers. I tried looking for MP Mah Bow Tan and MP Wong Kan Seng but failed to locate them. Probably blocked by other guests. Now where is MP Lee Kuan Yew. I think I did not see him either.

The one that was sitting in the front row together with the senior ministers was MP Goh Chok Tong ESM. So what did it say? His ESM is real, equivalent to a senior minister. So he is a minister and not an MP. So, is he getting paid as a minister too, and carrying out duties like a minister? He is definitely being paid a pension of a minister plus his MP allowance and or ESM appointment. Those who think that he is no longer a minister and will share the protocol ranking of Tin Pei Ling will be mistaken. Boon Heng, Kan Seng and Mah Bow Tan will now rub shoulders with Tin Pei Ling and other new MPs at the National Day Parade stand. But Chok Tong ESM will still rub shoulders with ministers of his ranks.

And his picture is in the ST today, shaking hands with President Lee Myung Bak of South Korea. What would the latter be thinking? Is he shaking the hand of a minister or an MP? Or an honorary minister?

Does our new protocol list say anything about who is really the bosses in our political structure? What is the official title of LKY? Ex or former Mentor Minister or MP? Today the ST addresses him as former Prime Minister.

Notable quote by Leong Kai Yan

‘Serving NS in non combat positions just as taxing.’ By Leong Kai Yan.
This is an article in the ST forum today by a Kaiyan Leong. I didn’t know that Kaiyan is a western word like Tom or Jerry to be placed in front of a Chinese surname, or is this the right way to write Chinese name? I am getting out of touch with the new generation. Anyway, a better version will be ‘Serving NS in non combat positions just as dangerous.’ Ok, this is my version.

How so, sitting in the comfort of aircond offices can be dangerous meh? Why not? He can be electrocuted when typing on the keyboard. Or he could trip over a carpet or a slippery office floor and hit his head against a sharp corner of a furniture.

Or the secretary may pour a cup of hot kopi on his face by accident and burn his whole face. What about a ceiling fan dropping down and chop off his head?

Mine, non combat positions are terrifying and truly dangerous. A jeep or tank can overturn. So can a car on the road. Both equally dangerous. A hand grenade exploding? What about the danger of a letter exploding when opened?

I concede that non combat positions are equally dangerous, and taxing too. No wonder not many PES A NSman were allowed to be in non combat positions. Oops, there are some exceptions to the rule.

The indictment of a prime minister

Iceland has taken an unprecedented step to indict its Prime Minister, Geir Haarde, for being the cause of its financial collapse. The charges were ‘intent or gross neglect, mostly violations against the laws of ministerial responsibility.’ According to another law maker, Ath Gislason, Haarde’s great sin was omission. He did nothing and allowed the world financial crisis to hit Iceland to ground zero.

Some law makers were kinder and put the blame squarely on his predecessor, David Oddson. Oddson did something very familiar to countries that are suckers to the flawed American financial system, by allowing the privatization of banks and ‘liberalized banking laws, paying the way for a brief period of prosperity and the bank’s risky and ultimately self destructive behavior.’

What happened in Iceland is a common phenomenon in many western countries, a brief period of ecstasy before doomsday comes. The stock markets too got a small lift, but the collapse is just around the corner. With liberalization, it is like giving a licence to kill to the bankers and big fund operators.

It is so lucky that we have no reason to indict any politician here. They have all done well in their ministries and everything is just fine. Some thought there were a few cases that deserved to be indicted. Some thought the time is not ripe. The financial system and the stock exchange, and the nation’s reserves, are still kicking and looking healthy, just like the housing bubble. Let’s hope that they stay that way and there is no need to indict anyone as the consequences of a bad judgment and decision can be fatally destructive and beyond redemption.

When would stock exchanges be sued?

When the Lehman bonds and High Notes turned out to be lemons, many investors suffered huge losses across the world. There were compensations and pay back to some investors, notably the ignorant and less well educated uncles and aunties.

The well heeled and branded investors, known simply as sophisticated investors, were not so lucky. Even the sellers of the toxic notes were spared except some low level clever sales people who were found to have fouled only because they sold to the ignoramous. If the clever sales people targeted the intelligent and sophiscated investors, it was caveat emptor. No trouble at all. Under the same logic, they could even sell poison.

The bottom line is that the notes were dangerous but intelligent investors should know the risks involved. They were dangerous but not poison. They were not snake oil but high risks financial instruments.

The financial institutions were taken to task not because of faulty products but not telling enough of the risks. No one really was found guilty of any crime except some low level sales people, also not for crime but maybe a bit negligent.

Last week the American govt took up a suit against more than a dozen financial institutions for selling flawed products during the housing crisis. What this means is that someone and some institutions could be found guilty. The names of those senior people instrumental in the packaging of the toxic products have been compiled and awaiting prosecution. This is a serious development as the products were never seen to be at fault.

What if the banks and financial institutions were found guilty of selling snake oil or fraudulent products, or guilty of fraudulent practices? Would the banks and financial institutions here also be found guilty for selling snake oil as well? At the moment everyone is walking around with a hallow on his head, like angels. Water under the bridge, no point digging out shit to get people to court.

The seriousness of the American govt suit against the financial institutions and the legal implications can be widespread, depending on the findings. If fraud can be established, many heads will roll. Those heads over here may have to face the music as well.

An interesting article in the ST yesterday titled America’s great bank robbery by Nassim Nicholas Taleb and Mark Spitznagel is worth reading. It discussed the elaborate schemes of bankers and fund managers in transferring their client’s wealth into their own personal accounts. This kind of day light robbery is not confined to the US but affected all the financial systems modelled after them. The same players, the same systems and the same copycats, all lining their pockets with quick easy money.

Would the stock exchanges be next to be sued?

A simmering dissent brewing

Over the weekend I read a forum letter in the ST expressing aloud the fear that there will be no minority president in the future. Today I read that the Tamil language on the sign boards of a hospital was removed and only English and Chinese were left. The fear on the president issue is the need for a popularly elected President and statistically it is biased in favour of the majority. The minority races would be disadvantaged.

The reason given for removing Tamil from the signboards was that the customer profile in Khoo Teck Puat hospital does not necessitate the use of Tamil language. The excuse is lame for sure.

Taken simply, the problems will only be solved if the proportion of minority races increases to a point where all are more or less equal. This, I think, shall not take too long and it is only a matter of time when all the 4 racial groups will form about 25% each of the whole population. And we will have our enlightened immigration policies to thanks for.

Don’t worry, everything will be fine. Govt policies are well thought out by the finest talents in the island.

Ministerial Salary Review

Read in the papers that the findings and recommendations of the Ministerial Salary Review Committee will be out by the end of the year. And they have received many feedbacks and will take them into consideration.

I just have one point to add on the new salary. It must be absolutely transparent and with little room for too much variations. If there is any provision for bonuses, rightly there should not be, it must be minimal, at most a 13th month.

The last thing I want to see happen is for a small fixed salary and a huge variable that can be paid as bonuses or whatever, like 24 or 48 months more. The tenure of office of an elected govt is 5 years and nothing more. The salary shall be fixed for 5 years and anyone taking office shall know exactly what to expect.

The practice of a fixed salary plus bonus plus bonus shall be done away with. Allowances shall be specified as well. The basic position is that there must be no room for doubts, suspicions and imaginations.

Is the CPF scheme turning into a scam?

It was a pillar of our social infrastructure. It gave the people a sense of assuredness, peace of mind, and a great feeling of security. That was our CPF.

Over the years the changes introduced to the CPF scheme have gradually transformed this institution of the people’s savings into an institution of grievances and frustration. It all started many years ago when some economic whiz kid discovered that there was too much money in the CPF waiting to be had. Anyone with a bright idea could lay his hands on this people’s treasure that have been laid aside to earn pittance from the interest rates.

Now you understand why HDB flats are affordable and why the CPF savings are no longer enough for retirement? The policy of pricing HDB flats according to affordability is like pricing HDB flats according to how much the people have in their CPF savings. Brilliant. And the rest is history.

This logic can be applied to the ever increasing medical costs. The CPF has been turned into a vehicle to enrich the medical profession. You have plenty of money in the Medisave or in medical insurance. Thus you can pay for the increasing medical fees. You can afford it, like it or not, your saving will be taken away from you in advance to fund the medical industry. And you may not need it at all. Medical fees and housing prices will keep going up as they are affordable, because there are money in the CPF savings.

Did anyone really scheme to use the CPF for his own gambling habit, to fund his big billion dollar bets? Did anyone think that in such big gambles he could reap millions in bonuses when luck is with him, and simply ignore the losses as the losses came from other people’s money, not his own pocket? No need to pay back. The CPF contributors would be made to patch up the holes somehow through the shifting of goal posts or more schemes. I really hope that no one really thinks that the CPF money is for them to play. It is theft of the people’s hard earned money in all disguises. The line differentiating gambling from investments is too fine to make a difference.

And I am very uncomfortable for anyone, or any economist, to lump the people’s hard earned money as the country’s reserves. It is the people’s money and not anyone else’s reserves. Once the reserves tag is glued on the people’s money, the one holding the key to the reserves may think that it is his for the taking or for his own schemes of things. I find it not only immoral but down right dangerous.

No one can argue about putting aside some of our income as savings. But there are other important things to consider about savings. For those who can afford to, by all means save as much as you can. There are many out there who cannot afford to save. Saving is like eating half a bowl of rice or keeping the stomach half empty, to put some money aside. Forcing people to go hungry is not helping the people but ensuring them a slow death. Help the poor is to make provisions from other sources of revenue to allow them to have their bowl of rice and not go half hungry and not go half hungry by taking away the rice.

And there is a time to say providing for the rainy day is enough. The insurance agents will tell you that there is never enough in the insurance that you bought. Hmmm, reminds me of the reserves in the NKF as well as the reserves in the country’s vault. How much savings will be considered enough? Never enough. But the pragmatic reasoning will say up to a point, one needs not keep stuffing into the tin can for the tomorrow that may never come. There must be a sense of proportion.

This brings to a point about savings by the oldies. At 60, 70, or 80, as long as one is self employed, one must continue to put money into the Medisave. What kind of stupidity or daylight robbery is that? At these ages, everyday is a bonus. If one is economically productive, one should be allowed to spend his keeps while he still can. Forcing grandpas to save! Economically active grandpas would have the comfort of his savings being left untouched. To add to more savings is the logic of an idiot, or robbing the oldies. Now why would people want to rob the oldies? Wicked isn’t it? No, they say they are helping the oldies so that they have more money to pay the hospitals when needed.

There are many things that make the CPF smells foul. When the noble objective of a scheme is twisted to serve less noble objectives, or warped objectives, all schemes will turn foul. There is no need for oldies to keep savings. There is no moral reason to deprive the oldies from their hard earned savings to enjoy their twilight years even if it is for the use of god.

Now what is the real reason to compel the old uncles and aunties to keep saving when they may hand in their identity cards anytime? Is it mercy or merciless?

We have a very regimented institutions forcing people to save and save and while making it very difficult for the people to get back their hard earned money. On the other hand we have institutions like the HDB and the hospitals who are trying to take your money because you have money in your CPF. They price their products and services according to affordability and market forces, or to take every cent from you. It is like a candle burning on both ends.

I have a better CPF scheme. Everyone must contribute 80% of his income to the CPF. Then he will have money to buy affordable flats, and money for all the medical bills, and for retirement. No more worries liao.

Wikileaks leak unhappiness of journalists

It is in the media, that Wikileaks intercepted a report on the unhappiness of local journalists for being restrained from what they could write and report. In a confidential article titled, ‘Journalists frustrated by press controls’, it revealed that political leaders were putting pressure on the papers to toe the govt line on domestic politics. And there was a divide between the editors and the younger journalists.

I have sensed this divide and commented on them before. Our local journalists are very well trained and qualified, coming from some of the best universities in the West. They have seen the world and exposed to the vibrant intellectual discourse of the West. They cannot be cowed to become sheep. They are talented and wanted to express and show their talents. With a freer press, the quality of their reports and the media they represent would be a totally different story than the current pathetic state that made them pedestrian, amateurists, when compared to the social media.

How could that be? The social media may have talented people like me writing rubbish gossips, but the fact is that social media are not professional media with the time and resources and the real journalistic talents to produce works of literary art. My apologies to the few literary greats walking in our midst, like Catherine Lim and a few others.

Every time I read the pieces in the media, I feel very sorry for them. They have wasted their talents and skill on writing about food, cooking, pets, leisure and about how people would want to dress on their last journey, with at least 3 or 4 pages of expensive media spaces in yesterday’s ST, and a totally waste of paper. Very anti green movement to cut down trees and dig up raw materials to print such stuff.

Give them the space and they will raise the standard of our local media and win international awards in literary and journalistic skills with in depth coverage of quality news, and not in how nice the pages were arranged, how colourful were the prints, how creative was the layout, or you know what.

We have so much talent but not put to good use. Isn’t that a pity?

Govt institutions must be freed from politics

This is the most decent thing to do for any govt in any country. The civil servants are neutral and apolitical and just want to have a job to bring up their families. Govts that involved civil servants in politics or meddling in politics will only compromise the civil servants to do things that they should not be doing. Civil servants will be caught in a bind, cannot say no or will lose their jobs or doing things that will affect their values, principles and integrity.

It is unfair for any govt to make civil servants do their biddings for political cause or agenda. In many countries, particularly the authoritarian or dictatorial regime, the fall of the regime will lead to the arrest of civil servants or their escape from their own country as they will be found guilty for working with the authoritative or dictatorial regime.

It is the moral responsibility of all decent govts to free their civil servants to run their ministries and statutory boards in the good of the country and people, without getting them entangled with the politics of the day. When civil servants are not involved, they will provide the continuity of govt during a crisis or regime change, to ensure stability and as little disruption to public services and the security of the people.

The British model of govt is still the role model for democratically run countries to follow. And the neutrality of civil servants should not only be an empty claim but must be seen and believed by the people. Only then can civil servants live in peace and not be pricked by conscience for doing and administering public policies unfairly for the benefits of their political masters.

The civil servants are people and citizens of the country. They must not be coerced or implicated by the power of the day to act against their conscience or against the people. The people and civil servants should not be politicized against their will.

I can’t imagine a new political party returned to power and appoint their own men to run the PA, HDB and all the govt services while those currently in office will have to flee.

Notable quote by Hsien Loong

‘Drawing on our reserves should only be an absolutely last resort’ Lee Hsien Loong

Hsien Loong cautioned against the worsening world economy and that the govt may have to dip into the reserves again. But this will only be done as an absolutely last resort thing.

I also remember Leong Sze Hian saying that during Nathan’s term as President, the reserves were used for something like 29 times. Correct me if I have misquoted Leong Sze Hian. I think my memory is still ok and I am not suffering from dementia. And one of the reasons for using the reserves was for SERS, en bloc resettlement of HDB flats. True or not!

Pulling down old flats to build new ones is so serious that our reserves were used. Must be absolutely last resort or else something serious would happen to our economy or maybe the new immigrants will go rioting for not having a place to live.

If SERS scheme could justify for the use of the reserves, what else can’t? I think I must have heard wrongly, and there is absolutely nothing wrong with my dementia. Hearing problem? Maybe.

Political appointments, public employees or private employees

Recently some politicians lost the election and their well paying jobs as politicians. I am wondering where have they gone to? Have they found jobs in the private sector or have they been employed in the public sector, or have they been appointed by the govt into jobs that are paid by the public coffer?

There should be no issue if they are gainfully appointed by the private sector for their talents. It will be interesting to find out if they are being employed as public employees or civil servants and how much are they being paid in their new jobs. If the jobs are paid by taxpayers’ money, shouldn’t the taxpayers want to know what is happening?

What if they are appointed as advisors to grassroots organizations? Are these appointments paid or they are doing voluntary services for the community, no pay, like volunteers to social institutions?

The irrational considerations of the presidential election

Let’s talk money. Not that this election is all about money, but it is an interesting angle to pursue. Let me start by dangling a $24 million carrot to see the temptation. It could be twice or three times this amount. A $650k Toto jackpot is really a peanut compares to this handsome reward. Striking Toto 10 times would only bring in a miserly $6.5 million. And you know how difficult it is to hit the Toto jackpot even once, and 10 times is simply impossible.

With such a big carrot dangling, it is unbelieveable that only 6 Singaporeans would want it. Singaporeans are either insensitive to the temptation of money, or simply idiots. Of course the stringent criteria just said, you need to be very rich and clever to apply. Entering the contest is as difficult as a camel entering the eye of a needle.

The next big mystery is for Tony Tan to quit his two well paying jobs to place his bets on the Presidency. If he loses, he will have lost the two well paying jobs and their huge salaries. If he won, he may win less than what he used to get. Now, which is paying more? The Presidency or the two jobs in GIC and SPH? It is bonkers if the two jobs pay more than the Presidency!

And the daft Singaporeans did not think much of the millions to be paid out for the Presidency. Maybe they did not think it was their money. And when Tan Kin Lian and Jee Say offered to take $2m and $500k respectively for the job, they rejected both of them. The Singaporeans rather pay $4m+ than $2m or $500k per annum to the resident of the Istana. And between the 4, every one of them can more than adequately do the job of the Presidency, all fully qualified and passed by the PEC. They are all suitable for the job.

The only one sensible, or a real gambler, in my opinion, is Tan Kin Lian. He staked $48k plus some expenses for a return of many times more. This is practical reasoning and risk worth taking. I may want to consider placing my bets in the next round.

Now, how much did it cost to hold such an election to all parties? The one day of holiday with pay to every worker, the number of hours put in by the election committees and helpers, holiday overtime pay means double pay. The advertising and logistics costs of the candidates. The time and effort of more than 2 million voters also cost a lot of money.

And all the money to vote for a non executive President that can only speak with the permission or advice of the cabinet! A lot of money spent really, for a virtually ceremonial President that many have voiced that they rather not have.

Heard that one candidate sent flyers to every household in the island, assuming 900,000 households at $1 per flyer(postage and sundry), this alone is a cool $900k.

Is it money well spent? I think so, with the jackpot standing at a minimum of $24m or maybe $50m.

Now who dares to accuse Singaporeans of being money greedy? So much money for the taking and only 6 are honest enough to want to have a go at it. And one even gave up more in return for less. Singaporeans are so rich now that money is no longer a useful stimulus to excite them.

Cheng Bock was the Chosen One

Given the choice, the people will want Cheng Bock as their President. His marginally lost in the election is a technicality. The number of candidates was the main cause of his lost. A straight fight will give Cheng Bock the 30% won by Jee Say and Kin Lian. These are hard core anti PAP votes that will never lend on Tony’s lap and will give Cheng Bock a very comfortable 65% victory.

The polls in mysingaporenews are telling. There is still this corner of the population that is very unhappy with the new President. I do not see how Tony can bridge this gap to endear to this group of people. And this group consists of the hard core 30% plus a big portion of those who had voted for Cheng Bock.

Just ask around, anyone in the street, many will express their disappointment. It is not a contrived argument but a statement of fact. The PAP camp may claim 70% or 100%, the truth is that, unfortunately, Tony is not their desired President of choice.

Time for an Ombudsman

The way the CPF savings are getting further and further away from the people is no laughing matter. The delay in returning the money to the people, the inflating of minimum sums in CPF and Medisave both means that the owners are finding it more and more difficult to get in touch with their hard earned money. And you have jokers ridiculing the people’s stupidity by claiming to be very happy looking at a monthly statement saying how much is in there. In a way it is telling the people to be happy with the piece of paper even if the money is not touchable.

The most distressing part is that the people’s life time saving is now part of the nation’s reserve and can be invested by people who did not need to ask permission from the rightful owners of the money. The smell of blood, sweat and tears are in the CPF money. Who is so irresponsible and outrageous to think that it is ok to take the people’s money to ‘invest’ and claim credit, pay themselves insane bonuses when luck is with them, but if the money is lost, just pat their backside and simply walk away?

The very thought of taking the people’s hard earned money against their interests and will is evil to the core. It is irreprehensible for anyone to think that it is alright without any sense of guilt. It is morally wrong and criminal.

It is time to appoint an ombudsman to look into the people’s life time saving and find ways to return to them while the money is still there. There can never be any good reason, nothing, that can justify depriving the people from their savings.

I say again, anyone with designs on the people’s life savings is evil and wicked. They shall be punished, and it is only a matter of time. If there is no human law to deal with them, they will still have to answer one day. In the mean time, keep playing with the people’s money. There is no where to run from the guilt of conscience.

Nathan’s conscience is clear

Why was his conscience pricked and he has to make it public that his conscience is clear? In my view, Nathan is the most perfect President according to the terms and conditions of the Constitution. He played the role to the T. No one can fault him for not doing his part as the Elected President or overstepping his role to try to do things outside the Constitution.

Next National Day Nathan will be given the highest award of the country. And his place in Kranji has already been reserved.

On the issue of conscience, only those who took too much and did too little should have to think about their conscience. This shall include those who will be doing nothing and taking millions from the people.

Nathan has done a lot of work as the President without crowing about it. He is always under pressure to perform. The most obvious sign of pressure is his weight. The psychiatrists will tell you that people who are under pressure tend to over eat, took to food as an escapism, and put on weight.

Let’s wish Nathan a good retirement and with less pressure in his life. He may start to lose weight and his hair may start turning white too.

PE – 100% endorsement for the govt

Some said the PAP got only 35% of the popular votes, some said 70%. I say 75%. The numbers are very interesting and alive, and can be interpreted anyway one wants to look at them. It may be flattery, self deception, cynicism, foolish thoughts and anything but the truth. So reading numbers and interpreting numbers are not so objective and scientific after all. It is an art for the spin doctors.

Why did I say PAP won 75%? Tony, Cheng Bock and Kin Lian were all PAP before. Have they really left the PAP? Who can vouch to know the absolute truth? And I also say that the govt or establishment won 100% of the votes this time, a complete endorsement. Why not? All of them worked for the govt at one time or another. All has govt blood running in them, and govt thinking, including involvement in govt policy making and execution.

Don’t be surprise if all were invited to a tea party by the PM and all say a big thank you to the voters together. Then those who share this view of mine would say, see, all together with the PM, must be of the same camp.
Feeling cheated? The truth is still out there. And the truth is different in the eyes of everyone. The PAP is being conservative and a little shy to claim that it won only 70%. They could have won 100% for all you know.

Time to call for celebration for the great victory. What wayang? No it is the truth.

Notable quote by Redbean

Half in and half out

We have heard of that before. Now the latest catchphrase is 'One third in, two third out'. Redbean.

Is that the reason why so many people are simply disappointed?

Selamat Hari Raya Aidil Fitri

Just came back after a day of outing. Let me wish our Muslim friends a happy Hari Raya Aidil Fitri.

The warnings of the higher self

The GE saw Hsien Loong humbling himself with a public apology for the failed policies and bad decisions of his govt. His apology was heard and he was saved from an embarrassing thrashing in the election. His personal votes went up. This could easily rub the mortals, even higher mortals, the wrong way. In order to register a point that the apology must not be forgotten, a GRC must go and some hot shots would have to be sacrificial lambs in the process. We know what happened.

Subsequently, a few ministers were pruned from the cabinet to atone the mistakes of past years. These were all good and welcomed. The expectation by the people of a govt serving the interests of the people cannot be taken lightly. There were hopes bt the people of a better time.

Then came the Presidential Election. The tail of the fox reappeared and things were looking to take a step back. The first lesson was too easily forgotten and a harsher lesson needed to be handed down.

Tony Tan, the hot favourite of the elite of the elites, was rolled out to ensure a good win. The higher self was not pleased and Tony could only manage to win by a whisker. He could have lost easily if that was intended. The higher self did not want to make it too hard. Imagine if Tony Tan was defeated with only 30% of the votes! It must be the trumping of the year and the biggest defeat of the party.

The higher self was kind and wanted to give the party another chance to redeem itself. The 35% win and a margin of 7,269 votes were too close for comfort. It was a rude reminder that must be taken heed. There will not be another chance if the rulers insist on being rulers and not servants of the people. Five years were all there is to serve and work for the betterment of the people than for self interests and self gratification. The conditions for redemption are demanding. Would anyone still think that the higher self can be trifled with and ignored?

By the next election, PAP could be history, or be given a new lease of life. It all depends on whether the lessons of the last two elections were taken seriously and with all sincerity to be of service to the people and not self.

The graciousness and compassion of the higher self have its limits. Don’t push the luck too far. This is the message of the Presidential Election. Some are still trying to brush everything aside and still deceiving themselves that it was a big victory, and they can go on rubbishing and threatening the people. Fear not, for I know you by your name….

PS. The above was told to me by a ‘tang kee’. I take it as fiction or just a fairy tale. For those who believe that their future is in their own hands and do not believe in any higher self, they may disregard the ‘tang kee’ for his story.

An emotional index with President Tony Tan

Now we have a new President in Tony Tan. I have set up another poll to measure the emotional attachment to our new President in the Istana. This is just a feel good or feel lousy poll that I guarantee you will not affect the results of the Presidential Election.

And your vote is secret!

The silent revolution

Spring is here. I can smell it. No it is not the Arab Spring. This Spring is uniquely Singapore, totally silent. Not a sound. No street demonstrations or looting. No gun shots, no Molotov cocktails, no IED, no suicide squads. The streets are completely peaceful and life goes on as normal.

The battle has begun. The battle for Singapore, where Singaporeans are determined to reclaim their island, their rights, their money, their freedom and dignity, has started. The hit squads are there, the snipers, commandos, the infiltrators, the moles, the sleepers, the provocateurs, the squirrels, all are working furiously to gain more grounds.

The establishment is under attacked. Anyone associated with the establishment will not be spared. The presidential hopefuls could swear to it. All the past has been dug out for display, the wrongs, the ill conceived agenda, indiscretion, transgression, the self serving logics, will be retold by those in the know. Many victims wanted to tell their stories, they wanted justice and a reparation for their wrongful detention. They are fearless and standing up crying for justice. Nothing is going to frighten people who have been locked up for many years and in their twilight years.

The establishment is under attacked in all fronts. The latest, the People’s Association and the HDB, proclaimed to be non partisan, non political, are being hung up for a beating. Anyone from the establishment that talked foolishly will become instant targets.

Some from the establishments have crossed over. More will do so. Would those who have compromised themselves while with the establishment also waiting to cross over, to bear witness with their testimonies of their misguided acts?

The revolution is on going, in all fronts, in the silent world of cyberspace. The weapons are as harmless as a note book, laptop, an iphone or an ipad. The insurgents are taking each other out at every battle site. Some were direct and vicious, some were more discreet, some were smoking and you can’t tell which side they are from.

This is a battle without bullets and bloodshed. It is a battle for the truth, for the hearts and minds of the people. Truth shall prevail and triumph with its believers. The playing field is much level and the combatants are equally committed to wage this war.

This is a silent revolution, a soundless revolution, but just as vigorous and exacting on the wills of the soldiers. Who will emerge the victor in this new warfare of netizens?

TRE still down

When I look at Singapore News Alternative, TRE seems to be working. Whenever I click on it, well, it is under repair. And it has been under repair once too often. Many of you too are facing the same problem. I can only hope that this is just a technical problem and not something sinister.

The EP election is over

The election is over, let’s move on. That’s my thought. Afterall, nothing changes, nothing new can be expected from the EP except more of the same until they change the roles of the EP provided in the Constitutions. We can see more charity shows, more kissing of children and more walking in the Istana Park. Just read in the paper that Tony wanted to lend his expertise in fund management to the govt!

I think everyone is still hot about this election and I shall just add in a few comments. From the beginning this was an interesting election. The candidates, four of them and their eligibilities to even run in the election were full of controversies. Even pushing out Tony Tan from his comfort zones in GIC and SPH must have raised eyebrows.

The results of the election will be carefully studied by the political parties. One corner is claiming great victory as the 70% for Tony and Cheng Bock is now claimed as endorsement for the PAP. Is that so? Isn’t Cheng Bock a reject from the PAP camp, a rebel who shocked the PAP by announcing his candidacy? And the PAP could not risk a George Yeo and had to push out its biggest gun to face Cheng Bock.

The 35% for Tony and the 30% for both Jee Say and Kin Lian could be standard distribution of the hard core supporters of the pro and anti PAP camps. These voters are permanent features in any election and can be counted upon without much effort.

What is important is the middle ground. In this case Cheng Bock was the biggest beneficiary. The middle ground stood their ground and the popular vote for Tony plunged to 35%, much less than Teng Cheong’s, and much lesser than the 60% PAP won during the GE. Would these be telling signs of a slide in support for the PAP camp? No, say the ardent PAP analysts. The PAP got 70%. Sure, and be happy and crow about it.

There are many could be’s and should be’s. Many regretted that without the four corner fights there would see a very different picture and a very different President. No one shall blame any of the candidates. It is the right of every citizen, and an honour, to run for the Presidency. There were also attempts to work out a strategy and preventing a split vote situation. I think Kin Lian knew of his chances early and wanted to withdraw by sending out signals to the other candidates. His gestures were turned down as no one wanted even to talk.

Nothing is lost except that the picture of the future is forming and getting clearer. The future of change is in the GE in 2016 and not in this EP election. If Tony did not win, what could happen is a dud Presidency that will be ignored by the govt. There will be noises generated, heat, but no real progress.

The citizens that are looking for change must look at the GE and make it count this time. The PAP’s strength or weakness is exposed, all 35% of it. The middle ground will not be easily won and if the PAP is going to take them for granted, that the 35% for Cheng Bock is also for PAP, it will be interesting comes 2016. For, if the PAP really believes in this, you can expect what the follow through policies in the next few years will be like.
The battle ground is set and the pieces are being placed. Let’s move on.

PS. Put the ears on the ground. Listen to the oohs and aahs, the rumble and regrets. That is what many of the concerned citizens are saying.

The gambler won

Actually I did not want to make any post today as I was saddened by the results of the polls. While typing this, I was high in spirit of the liquid kind. I voted for checks and balance, but the gambler won. Not I say one hor, I read in the paper and it said Tony’s big gamble pays off.

Come to think of it, it is quite true. No sensible person who is untouchable in SPH and GIC, and probably earning more millions than the Presidency would resign both positions to stand for an election that he may not win. I would not put my money on such a person. And he won by the skin of his teeth. If there were only two candidates, he would have lost badly.

I still cannot get over it. Why would anyone walk into a situation that he could lose so much and win much less? One way to look at it is that he is a great man with great conviction and commitment to the country. That he is willing to make big sacrifices to make sure that the country is in good hands.

The other way of looking at it is that it is a totally silly thing to do. A big gamble for nothing. Only an irrational and silly person would put in such a big stake for lesser returns, and may even lose everything. After this close call, I don’t thing any PAP stalwart would dare to accept such a proposition even with a gun on his head.

Fortunately the gambler won. Or did he? He garnered only 35% of the votes, only a few thousands more than Cheng Bock who had only a softball association to endorse him. Tony has practically the whole machinery on his side, and all the endorsements, and that was all he could get.

Cheng Bock could take away 25% of the votes for PAP to give Tony a fright of his life. And I don’t think the PAP is backing Cheng Bock at all as it would be difficult to explain to Tony for staking his Chairmanship in SPH and GIC and the millions of dollars.

I am not at all comfortable with the outcome and the new President for taking such a big gamble. And I can’t even call him a gambler. A gambler is smarter than this.

Stock market or casino?

The Australian Stock Exchange has made the most innovative decision to appoint the CEO of a casino as its head. They must have come to realise that the stock market has in all counts nothing but a casino. And they need a casino man with his experience in running a gambling den to manage it. Also, for a gambling den, the strong regulations are vital to protect the customers from being cheated.

In the same page of the ST today, the SGX was reported to tightening its enforcement of errant listed companies. It wanted to do more to prevent more failures. It would apply its rules and regulations to the letter and spirit.

Good sayings, and the problems are always with other people. Has the SGX contributed to the problems, or is the SGX the problem itself? Is there a conflict of interest in its pursuit of profitability and thus violating its own rules and regulations to the letter and spirit?

The introduction of high speed trading, programme trading and the plugging of these super computers into the trading system to trade against the small investors, is this fair trading? Is the playing field level as this is the key principle and spirit that the SGX is to uphold? Then there is the Dark Pool which violates the principle of transparency that is also another key responsibility for the SGX to uphold.

Has the SGX been operating under the same principles and rules and regulations that it is legally bound to uphold? If it doesn’t, who is there to ensure that SGX does according to its mission and role as the operator of a profit making body and its own regulator?

This is another case of who is to regulate the regulators and protect the innocent customers?

Polling Day - What are we voting for?

We have an election for a ‘lame duck’ President under the Constitution. Yes, he has veto rights to several important areas. He can only exercise his veto if a piece of paper is placed to his desk. If nothing is placed on his desk, there is nothing to veto at all. Get it?

This does not mean that this election is not important. It is, and every citizen must think about it carefully and use his vote wisely. This election is not about voting against the PAP. This election is not about voting the coolest uncle to take pictures with. This election is not about voting someone to kick butts.

This election is about checks and balance. This election is about being sensible and knowing what is good for you and your children. This election is to tell the world that you are not daft.

And you can confirm your daftness by voting for absolute power. You can double confirm your daftness by voting for checks and balance by ‘ka ki lang’, or in English, voting for the same kind to check on the same kind. And you can triple confirm your daftness by voting for both above reasons. And your daftness will forever be carved in stone.

Go to the polling station tomorrow to redeem yourself, your dignity and self respect, that you are not daft, that you are able to think clearly and logically.

What a mischievious post!

The Online Citizen, 25 Aug 2011
There are rumours circulating online that Presidential candidate Tan Jee Say gatecrashed Singapore People’s Party’s (SPP) National Day dinner last Saturday (see HERE).
A Workers’ Party member Melvin Tan who contested in the 2006 General Election, writing a note on his Facebook said that he has chosen to vote for Dr Tan Cheng Bock over Mr Tan Jee Say because Mr Tan Jee Say seem to have “an air of superiority” around him, and also because he did not like how Mr Tan “heckled Tony Tan” in TOC’s ‘Face to Face 2′ Presidential Forum.
That Facebook note is now being circulated widely online.
In the same note Mr Melvin Tan said:
“The last straw was the SPP National Day Dinner on 20 Aug ’11, where I bought tickets to attend to support Chiam See Tong for all he has done for Singapore. TJS (Tan Jee Say) turned up and in my view gate-crashed the event and stole the limelight. From very reliable sources, that wasn’t pleasant for the Chiams or SPP.”

TOC tried to clarify this with SPP and spoke to Dr David Tan, Central Executive Committee member of SPP.
Dr Tan in speaking to TOC said, “It’s untrue! I invited Tan Jee Say in my personal capacity to the dinner. Mr Tan initially declined because of his prior commitments. But later, because of my insistence, he agreed to drop-by to say hello to the Chiams and myself.”
Dr David Tan was Mr Tan Jee Say’s teacher when Mr Tan was a student in Raffles Institution.
When informed that Mr Tan Jee Say would like to drop-by the party to greet the Chiams, Mr and Mrs Chiam welcomed him, clarified Dr David Tan.


Why would this Melvin Tan come out with such a statement that unwary readers would form a bad impression on Tan Jee Say at a critical moment like this? Why, why. why?

Let me think. A lot of conspiracy theories appeared in my mind. For someone who wanted to be an MP, it can be expected that he would make such statements only if the facts were correct. Why would he make such a statement only to be proven wrong immediately by the organisers?

Fishy eh?

New clothes maketh a new man

Are Singaporeans mortals or higher mortals, or simply robotics? We have a Presidential election tomorrow. From the onset of this election the Singaporeans were told that this is a non political election. The Elected President is non political and is above politics. There is no politics involved here, but the higher national interests. So Singaporeans all went about garbling that the election has nothing to do with Singapore’s politics.

Next came the candidates for the presidency. Three resigned from their political parties only a few days ago, and one resigned several years back. All claimed to be independent of any political parties or association. And all claimed that they are now new men and will not be influenced or affected by their past associations. The apolitical Office of the Presidency is safe. It will not be tarnished by any swine that will be elected to serve the interests of political parties.

And no political party stands out to endorse any of the candidates, to keep politics out of the election. Any politicians that endorsed or spoke well for the candidates were speaking in their own personal capacities, with no political agenda.

This is how clean this Presidential election has become. It is a role model for the world to emulate. Change the clothes and change the man. We have instant trees. Now we have instant apolitical men.

My apologies. Think I have a few glasses too many.

Test for daft Singaporeans

This Saturday, 27 Aug 2011, Singapore will again have an opportunity to sit for a test to prove their daftness once again. For so many years, Singaporeans have not only been told that they are daft, they even agreed that it is true and accepted the fact shamelessly.

After a life time of slogging, when many have become grandfathers and grandmothers, when the normal process of growing up and ageing would have made them wiser, they were told that they cannot be trusted with their hard earned money. And this money will be kept away from them, maybe return to them in drips, and in exchange they will be given a piece of paper every month to tell them how rich they are, and also how daft they are.

They were also told that foreigners are here to help them, to create jobs for them. But before doing that, the foreigners would have to take some of their jobs. And if they lost out to the foreigners, they were told to buck up or that they were lazy, less competitive and must go for retraining, for a lower skill job than before. And also, the foreigners are here to help to increase the value of their properties that they cannot sell. For after selling, they would not be able to afford to buy the next property except by downgrading.

There are many other things that were shafted down their throats to confirm their daftness. This Saturday, they will be put on another test to confirm how daft they are, or whether they are beyond redemption.

The test is about a Justice Bao, a Song magistrate that was legendary for his impartial dispensing of justice, without fear or favour. This time the daft Singaporeans were told that Justice Bao has reincarnated. He is going to stand for election as the next President. And Justice Bao will uphold justice with absolute impartiality. He will not be affected by his relations with anyone in the execution of his duties. Any govt official that is corrupt will be beheaded under the tiger head guillotine. The Singaporeans are told to elect this Justice Bao the reincarnated as their President. And Justice Bao will demolish the myth that absolute power will corrupt. With Justice Bao as the President, there is no such thing as corruption of power. The more absolute the power the better for Singaporeans, when Justice Bao is around. Singaporeans will once again be told to vote for absolute power.

Would Singaporeans again prove themselves to be daft and vote the reincarnation of Justice Bao to be their President? The verdict will be out by 28 Aug 2011.

Latest poll numbers

Less than 12 hours from the election campaign and Tan Jee Say is still in the lead with 69%. Overall his votes have slipped by 5% from the day the polls were set up. The other three candidates have a small share each of the 5% votes from Jee Say. Tan Cheng Bock is now at 18%, Tan Kin Lian at 6% and Tony Tan at 5%.

What do these numbers tell? There are a couple of assumptions that can be used to interpret how they would reflect the actual election. One, assuming that all those voting in this poll are anti PAP votes, which is not the case as some still voted for Tony and Cheng Bock is running in second place, and if the overall votes cast against the PAP is 50%, Tan Jee Say is going to garner 34.5% of popular votes. And this is likely to be the base support for Tan Jee Say.

Tan Kin Lian’s position is looking pretty weak and may lose more grounds on actual voting if the voters choose to throw everything with Tan Jee Say.
The big question now is between Tan Cheng Bock and Tony Tan. Theoretically, with all the endorsements, Tony Tan should carry at least 70% of the pro PAP votes. This will put him neck to neck with Jee Say at 35% against Jee Say’s 34.5%.

Tan Cheng Bock will have the balance of 15% plus the anti PAP votes of 9% (18% x 50) giving him 24%. His only chance to be in the running will be to take away more votes from Tony. To give him a real chance of catching up with Jee Say, he will have to take near to 50% of the pro PAP votes, which will give him 34% (25 + 9). 40% will not be good enough.

However, if Tony’s share of the pro PAP votes goes down to 60%, his total is going to be 30% (60% x 50) which will make him precariously close to losing to Tan Jee Say.

What is quite sure in this election is that 40% will be casting against the PAP camp with a likelihood of 50% this time. The pro PAP camp can count on 30% solid support plus another 20% swing votes. So my conclusion is that it will be Tan Jee Say versus Tony Tan or Tan Cheng Bock. It will be very close and if the anger is strong enough against the PAP, Jee Say is likely to be in with Cheng Bock pulling down Tony’s vote but not enough to lift him over Jee Say.

My take is on Jee Say taking a slight edge, beating Tony and Cheng Bock by a nose. But, if the polls here is representing 70% of all voters, less the 30% of hard core PAP supporters, then Jee Say is going to romp in with a comfortable 49% of votes count.

The arithmetic of the 26 sites

The PA is leasing 26 sites from the HDB for community events. How long is the lease and how much would it cost the PA for the lease? The next question is the number of days that these sites will be used.

If the usage of the sites, averaging once a week for each site, it will mean that the sites will be unused for 365 - 52 days or 313 days. Double the usage to 2 days every week, ie Sat and Sun, it will still be 261 days unused. A long lease in such a case would mean that the PA will be paying the HDB 261 to 313 days for not using them. Ok, the rate of rental for long lease could be lower than daily rate.

The question is whether it is cheaper for PA to pay for rental of the sites on a used basis, or daily rate? I don’t have the numbers but I think it will be much cheaper to pay on use than to pay for long term lease when the sites are not intensively used.

Can someone work out the numbers? One thing good about paying from one pocket to another pocket is that it will look good on economic numbers like GDP. Perhaps the PA could sublet the sites at a higher rate with profits.

What is happening in the stock market?

Hundreds of millions have been lost in the stock market by small investors since programme trading, algo and high computers were attached to the system of the stock market. This development means that the big funds are able to take full advantage of technology by plugging their computers into a system that they were once forbidden to do so, and trade against small investors, and cleaning them up.

Nobody is crying foul, or nobody dares to, or nobody wants to. So everyone pretends like there is nothing wrong, just like the toxic notes and Lehman bond crisis. The money lost in the stock market is many multiples of the previous scam and the number of victims were much more numerous.

One day it is going to explode and as usual, everyone will pretend to be ignorant of it. Everyone will say I dunno. Is there anything wrong with the stock market trading system? Is there a level playing field? Are there any violations to the rules and regulations of stock trading?

I swear to god that there is nothing wrong. I think the system is perfect, and volume is increasing and the stock exchange is making a lot more money than before. Those losers just got to blame themselves. I am sure the SGX and MAS know exactly what they are doing and everything is just fine. We can trust the super talents to do their homework as they are paid very well to do their jobs.

Some people have been complaining to me that something is really foul with the system. I disagree completely. But if they do feel strongly that something is wrong they need to prove it. Or they may want to take advantage of the presidential election and bring their grouses to the presidential hopefuls. These are honourable men who have pledged to safeguard the nation’s reserves with integrity. And if the small investors think that are caught in a scam, and brought to their attention, they will definitely take up their case to protect the small investors. They are men of honour and their positions with regards to the banning of MP Chen Show Mao in Aljunied are testimonies to their principles for fair play and justice.

Bring the problems to them and let them raise the issues with the proper authority. For me, I don’t see anything wrong so I would not know what to say. The SRS, SIAS, the broking houses, too are interested parties and they too did not see anything wrong and are not complaining.

Those people who complain about unfair practices, uneven playing field, unfair advantages, may not have a case, I think. If they think they cannot beat the system, don’t get it. It is caveat emptor.

How a LPPL President can be critical to a power shift?

In my earlier article I explained why the EP is at most a LPPL President. His key role to check on a rogue govt is at best a scarecrow attempt. A rogue govt in all counts will be in control of every instrument of the state and would just rubbish the EP if they have to, and there is nothing the EP can do about it. They could crudely bundle him out of the Istana in a gunny sack.

But under certain conditions, the EP is a source of strength in a contest for power and dominance. A likely scenario where the EP can play a crucial role is during a freak election. Take the last GE for illustration. If the PAP had lost the election they will have to rely on the EP for some semblance of authority and legitimacy if they want to take up a fight with the new govt. My speculation below is just for discussion.

When a new party takes office, what it would face is a whole machinery of govt organizations with heads appointed by the defeated ruling govt. The loyalty of these heads, from the military, civil service, judicial and all the ministries are likely to be still with the past govt. And the new govt would have to make changes to be rubber stamped by the EP. See what the EP can do in such a situation? The retention of all the incumbents in office will mean that the defeated party is still the de facto force to reckon with. And the new govt will have a hard time if these heads refuse to tow the line, and cannot be removed because of a veto by the EP.

Any attempt to break the impasse would only lead to more tension, and raises the importance of the EP office that is backed up by all the incumbent heads. Yes, this will include the military, police and all uniformed groups. Someone said they will be called upon to remove a rogue govt or a new govt. Possible, likely? In such a situation, the authority of the EP can be called upon to march out the troops. That is the only legitimate source of power left for the ex govt.

And yes, the EP can block any attempt to touch the reserves with all the govt agencies behind him. He is not a lame duck or a straw man in such a situation.

The EP is the fall back position. And he is worth every cent paid to him when such a situation arises. Don’t pray, pray with the LPPL President. He has a big role to play when a crisis demands it. Other than this, his role is primarily ceremonial. Nathan lives that role perfectly, to the letter in the Constitution. And Tony Tan knows it too. He will be an excellent EP in the same mould as Nathan.

The other 3 candidates appeared to be eager beavers, wanting to do a lot of things that the EP was not designed to do. A strong PM can completely ignore him or shut him off. Can an EP order a PM or minister to listen to his rants or to have tea with him? All they need to do is to tell him they are busy. Period.

30,000 0r 8,000, who is bluffing?

The media reported that 8,000 people attended Tan Jee Say’s rally last night at Toa Payoh. The social media reported that the crowd was at least 30,000 strong, with pictures to show. Between 30,000 and 8,000, a simple estimate can be made by a quick glance as the difference is vast.

Claiming 8,000 as 30,000 or 30,000 as 8,000 is simply idiotic and unbecoming. Someone’s integrity is at stake.

The Establishment strikes back

The reason for grabbing the 26 sites in Aljunied GRC could be due to the difficulties faced by PA in getting sites for its activities in Hougang. This is the reason reported in the media today. So, to protect its interests, to be able to get sites for its community events, the PA arranged with the HDB to ‘chope’ the sites first.

This has led to an open accusation by the WP that HDB or the PA is abusing their authority. And it looks like WP has all the facts in their favour and may take the next step, to haul the two agencies to court. Unprecedented and unbelieveable. Historically it was always the establishment taking its political opponents to court. Now it is the other way round.

How would this be played out in court and would the WP be victorious in their charges? This may not be that important. It is the publicity in the media of the abuses of authority by govt agencies, if can be proven, that will steal the limelight. And a few heads will roll when they failed in the defence of their actions. And there will be red faces if someone is found to have sanctioned the act or authorized it. Tony Tan said must get to the facts.

This is something that is good coming out of the Presidential race. The pro establishment candidates have to make a stand. And they made their stand for fairness, justice and equality. Tony Tan even called for an investigation to see to it that justice is seen to be done. Cheng Bock said the incident was sad and called for respect for the elected representative of the people. Was there disrespect shown? Who has the audacity to show disrespect to an elected representative of the people? Definitely not any civil servant or community leaders. If there is, then an apology is only appropriate.

Tan Jee Say and Kin Lian too were unhappy that such abuses happened in this way. Both called for a non partisan civil service and to treat all MPs equally and with respect. What is scary is that if there are people who think they can show disrespect to MPs. Hopefully this issue will be put to rest with the PM making a public statement to warn anyone intending to do so. Then there is the possibility of the case going to court and a court punishment, if it can be proven.

Election rivalry and politicking should end after the GE and both sides should close rank to work together, even if their positions are different. Trying to upstage another using unfair tactics is not only unacceptable but a poor reflection of the integrity of any party caught with its pants down.

Would this be the last case of such ugly incident? PA has withdrawn its conditions to prevent opposition MPs from using its leased sites provided the event is non political. As a political student, everything is political, and everything is non political. Would the PA like to clarify on this position? Is a cycling event organized by a political party a political event? Is a seventh moon festival where a MP is invited a political event? When does an event become political?

What is the presidential election about?

Some wanted to vote for a dignified face to show the world. Some wanted a wise looking one. Some wanted one that can carry himself well when in the company of foreign dignitaries. Some wanted a president that they can shake his hand and take photograph with. Some wanted a nice guy. Some wanted a moderate and reasonable guy.

What is the most important issue of this presidential election? Checks and balance. We have a strong govt, in fact a very strong govt. Like in all strong and powerful regimes, sometimes thing may go wrong. And when things go wrong, we want someone to stand up and say ‘Stop.’ We want someone to be there, constantly watching and checking, not someone going around to be a nice guy, a popular guy, shaking hands with everyone, or trying to cosy up to the Prime Minister, to be in his good book, so that he will be more disposed and amiable to suggestions and views.

The check on a rogue govt is not what a nice guy can do. If we are serious, we need to find the right guy with the right temperament and intent, to do the job. The people must not be distracted by all the wishy washy nice to have or nice to be presidential pursuits. Only one thing counts. For the rest, a good looking nice guy president, you only need a ceremonial one. And there is no need to go for an election.

The act of electing a president is to give him the moral and legal rights to stand up to a rogue govt. He is there, elected by the people, with the people behind him, to speak and protect the interest of the country, and the reserves. The people must think very carefully who they think can do this job.

Who can provide the checks and balance in the most objective and impartial way, without fear or favour? With proper decorum of course.

The leopard never changes its spots

Self explanatory.

The PA is a non political organization

The People’s Association is a statutory board and a non political organization. Who dares to challenge its non political and non partisan status in organizing community services? Even the community centres, now called community club, are not called political clubs or associations.

There is no politician in the organizations. Oh the MPs are only advisors of grassroots organizations which are also non political. The Chairman of the PA, someone told me is the Prime Minister. OK, he is the Chairman but not there as a politician. Maybe the Chairman’s position is akin to the President of Singapore, non political, a unifying figure, non partisan.

All of PA’s premises are out of bound to politicians. Even those common areas it leased from the HDB are only for non political community events. MPs cannot attend as they will make the event political. I think, correct me if I am wrong, an MP cannot go to the community club to pee if nature calls. It is strictly non political and does not need the presence of any political animal to tarnish its clean and non political image.

Please feel free to disagree with me. I never say that everything I said is 100% correct. Sure there are things that I said were wrong or wrongly conceived. Sure I must have made many mistakes. Please forgive me. I am just a lesser mortal.

Cowboy country or Rule of Law

The lunatic fringes are lurking in the cowboy country in cyberspace. In the other physical dimension there are all kinds of rules and laws governing the citizens and the lunatic fringes. I am presently surprised that there are more rules than I have thought of that are enforceable by the men in blue.

I read a case of a TOC reporter being hauled to the police station by the transport authority for taking photographs of an accident involving buses. According to the transport official, the organization has rules that forbid the public from taking such photographs. Though the police initially said that there was no case, they eventually took down the particulars of the photographer at the insistence of the transport official. Not sure if the photographer has to submit a report of the incident.

This is especially frightening to me as an avid photographer. Now I am not sure when a private organization is going to drag me to the police station for violating their company rules and regulations. Scary isn’t it? Would the police be kind enough to enlighten the ignorant public of such private rules and regulations and whether the police will apply these private laws to apprehend the public.

We also have a non political organization like the PA with the authority to ban elected representative of the people from public functions because they have ownership of the property by virtue of a lease. I cannot imagine property owners renting their properties to individuals and forbid them from inviting politicians to their premises. The Workers Party is reported in the Today paper for accusing the HDB for abuse of authority by leasing common areas to the PA which then forbids MPs, unless appointed as grassroots advisers, from attending functions held in those properties.

Funny that a non political organization like the HDB ‘is abusing its powers as land owner of common property in HDB estates to help the PA(another non political organization) achieve the political objectives. The part in within inverted commas was quoted from the Today paper.
Very strange developments. Non political organizations somehow seen as playing politics or achieving political objectives. I am sure the HDB and PA are doing everything within their constitutions and rules and regulations as non political organisations, and their actions are all within the principles of rule of law. I am wondering what would happen if an opposition MP invited himself to a community event in a PA leased property that forbids his presence? Would the police be called in to take down the MP’s particular and record a statement from the MP?

Rule of law is good as it makes it very clear what the citizens can or cannot do. What is troubling is that many of these rules and laws are private and not known to the public and many innocent people with no intent to break these rules of private authorities will be caught unguarded. Perhaps organizations like the transport authority could publish all the forbidden rules in the media to help the public to avoid violating their rules and laws. And all organizations with their private rules and laws should also do so.

I will stay indoor for the next 6 months until all the private authorities publish their rules and laws affecting the public. Then only will I feel safe to step out of my flat. And definitely I will not dare to take photographs of public transport vehicles and their activities. Maybe I should hang up my camera for good. I am a law abiding citizen and will obey all laws as long as they are laws. If the karang guni man has his own laws, I will also make sure not to infringe them. Life can be quite scary in a country run by the rule of law.

‘Yao yao ling xian’ Tan Jee Say in the lead

After two and a half days of poll and 207 votes, Tan Jee Say is way ahead of all the other candidates with 74% of the votes. Tan Cheng Bock is maintaining his second position with 15% and Tan Kin Lian taking third place with 5%. Tony Tan is coming from behind at 4%.

I know that this poll is not a true representative of the whole population and would not ensure a Tan Jee Say win. What is pertinent is that among the anti PAP voters, the majority is throwing their votes to Tan Jee Say.

If that be the case, if my earlier estimate holds, that is a split of 50:50 between pro govt and against govt votes, Tan Jee Say is going to garner at 74% of the 50% or 37% of popular vote. This will definitely put tremendous pressure on Tony Tan. If he is going to split 30:20 with Tan Cheng Bock, then Tan Jee Say is in.

A sense of propriety or impropriety

We have heard it all. We know now what the Elected President can or cannot do. We know what he can or cannot say. We even know that for him to say no to a rogue govt wanting to spend the reserves is a lost cause. An EP can only deal with a govt that will play ball and respect the Constitution. A rogue govt will just bundle the EP out of the Istana without any decorum.

We have 4 candidates. One is saying that he will just play his role as prescribed by the Constitution. Period. Another knows of his limitation and will abide by the Constitution but will find other things that are interesting for him to do. Another two are increasingly aware of what they cannot do but will just try to make more noises to be heard. In summary, we have a ceremonial president with a lame duck role to go against a rogue govt. Another Singapore Myth.

In the case of Tan Kin Lian and Tan Jee Say, the awareness of the little things that they can do independently must have dawned on them that they should not be asking for too much pay. What is enough for the kind of jobs that the EP is doing, reading prepared scripts, inviting people and friends for tea, shaking hands and taking pictures and inviting people to his garden? I don’t think the EP could do anything on the most important role he is expected to do. Oh, I forgot that he needs to lend his rubber stamp for the appointments of senior govt officers and a few other things. He can say No!

So Tan Kin Lian feels ‘peh seh’ and say he will take only 50% of his pay if elected. The other 50% can go to charity. Tan Jee Say gone one step further by saying only $500k is enough. They must be feeling quite embarrassed to receive the multi million dollars on the table. They must have looked at the job and feeling very uneasy with the money, maybe feeling shameful too.

It is good that they have some sense of propriety, to know that it is wrong to accept more than what they have contributed. For all the misgivings, I like them for such a sense of honesty and reality.

Paya Lebar CCC banned MP Chen Show Mao

The news that MP Chen Show Mao has been banned from attending a Seventh Moon Celebration is circulating in the internet and social media. Or is it the People’s Association that is banning him from the event? It was reported that the piece of land for the celebration is under the jurisdiction of the PA which is a non political organisation. So like the community clubs, all activities on its land or premises must not be political. MPs are seen as political. Advisors to CCCs or MCs are not political as they are not wearing the MP hat. Whatever, I am embarrass trying to understand the logic and reasoning.

Coming back to the issue, does the CCC or the PA has the right or authority to ban any citizen from attending a function, be it social, cultural, religious or private functions like wedding or birthday celebrations? If anyone is to ban any person from an event, it must be the organisers and their private functions.

The second point to ask is whether such organisations can ban an elected MP from anything at all? Are they the law, the police or the govt? Is such an act a challenge to institution of the Parliament?

One thing I am still confused in this country that is ruled by law. Does the presence of a MP make an event political? Does a wedding become a political event when an MP is invited? Can an MP enter a community club in his capacity as the MP regardless of his political affiliation? Or is an MP a disease, cannot go about interacting with the citizens?

An MP is good enough to sit in the Parliament, the highest legal body of the country, but can an MP be forbidden to enter a community club or attend a community event in any place in the island, a public place or a private home? As a reminder, the community clubs are built by the people’s money, and not somebody’s grandfather’s money. An MP is also a citizen and an elected representative in Parliament.

I think the Presidential hopefuls may want to have a view on this matter. Those attending their public forums may want to pose this question to them. The MP is part of the legislature that makes law for the country. No one or organisation should do anything to insult the office of an MP.

Would our honourable and learned friends try to interpret the law to see if there is any violation in this regard? I think many would rather play it self, so safe that today, the presidential hopefuls seem to be seeing many things that out to be put right in the run up to the election, from who has the right to be sitting in the Istana to what the President should be doing.

PS. It was quite a joke that the MPs of west Malaysia can be banned from entering east Malaysia. Very third world thuggish behaviour.

The Tan Dilemma

The Hainanese Clan has invited Tan Jee Say for tea. And someone asked me if the Hainanese Clan be accused of participating in politics? My answer is simply no. The election of the President is a non political event. I know many political science students are covering their mouths to hide the cheeky smiles on their faces. It is not a political event, or the candidates are independent, and have no political affiliations. So be it.

And no one can point a finger at the Hainanese Clan to register as a political party if they want to be involved in politics. Such childish innocence is passé. Who ever dare to utter such a remark today will make himself looking quite foolish.

With the Tan Clan being the first clan to step forward to endorse Tony Tan, the door is left wide open for any clan or association, union or trade organisation to endorse any candidate, and not be accused of dabbling in politics.

This reminds me of the Tan Clan decision to endorse one Tan against the other three Tans. I am sure the other Tans must be feeling very let down by their own clan. They are all Tans and share the same ancestors. Why the favouritism for one against three.

This must be what I called the Tan Dilemma. How did they get caught in such a tricky situation to hurt the feelings of three for the good of one? Have they not heard of the slogan, one for all and all for one, staying united?

Their decision to support one Tan is very divisive. I thought it would be a wiser decision to support all four Tans and let the rest of the Tans vote for whoever they want. An even hand would look more pleasant for all the Tans. Have they compromised their position to treat all fairly and equally?

Can the other three Tans approach the Tan Clan for an explanation and endorsement?

Tan Jee Say taking a big lead in Polls

My straw poll is up for 24 hours and 146 have voted with106 for Tan Jee Say, 24 for Tan Cheng Bock, 9 for Tan Kin Lian and 7 for Tony Tan.

Yes, if this was done by any media, they will blow it as their front page news as if Tan Jee Say is going to win the Presidency. But as many of you have pointed out, a poll conducted here, in the ST, in Reach or in TRE will reflect certain kinds of results reflecting the inclination of the participants. This is only natural and, I don’t have to remind any of you here as you are very rational and thinking people, I would like those who tend to take media reports at face value to be careful about such biases in polls and news.

The result of this poll so far is quite a true reflection of the kind of people visiting cyberspace looking for alternative news. They are informed and wanted to be more informed and would not allow anyone to pull wool over their eyes. For the moment, we can assume that the voters in the poll are quite genuine and this is what they truly wanted. This does not rule out a big block of voters coming in to vote for any one of the candidates here to swing the poll to their favour.

What is clear is that though Tony Tan is claiming endorsements from unions, clans and associations, these too may not say much as to who the members of these organisations will vote eventually. This poll shows that there are other corners of the population that have a mind of their own and some would favour other candidates very strongly, and that candidate may not be Tony Tan.

We still have 5 more days before polling day and we shall watch how the poll goes and how representative is a non partisan and non aligned blog like this one when match to the real election outcome.

Just keep an open mind.

Who will be the next President

Hi,

I have set up a poll on the right to get an indication of who you people would like to see as the next President. Let's see if what we think is a reflection of what the people think on 27 Aug.

Cheers.

Notable quote by Franklin Roosevelt

"The test of our progress is not whether we add more to the abundance of those who have enough. It is whether we provide enough for those who have little."

Franklin D Roosevelt (1882-1945)
United States, 32nd president

How to grow our reserves?

It is a state secret how much of our reserves are CPF money, or the people’s money. Anyone has the figure? I think the CPF component is not small and could be a very substantial portion of our national reserves. And I find this very funny, and very painful. Why is it that the people’s money, your money, my money becomes the country’s reserve? Never mind, it is part of the economist’s formula, to include the people’s money as the country’s money for the govt to crow about while the real owners of the money can only cry about it.

With this in mind, the easiest way to grow the reserves is to make sure that there is more money in the CPF. How to do that? I think we all know the answers. I can make our reserves even bigger and tell you that it is safe, without telling you how much is there as long as the CPF account holders are happy with the monthly statements.

So, how rich are you? Or how rich is the country’s reserves? Your money or someone else money?

I am very frighten of people who claims to be able to grow the reserves.

The President, gambler and fund manager

The campaign for the next Elected President has commenced and what came to my mind is the relationship between the president, the gambler and the fund manager. They all have one similar interest, money. Money is a big issue not just about how much should the president be paid given the surprising revelation of his job by the Law Minister. The only part that justifies some big money is the president’s role as a custodian to the country’s reserves.

The rest of the functions of the president are more ceremonial and quite exciting, like in the company of heads of states, the kings and queens and dining with celebrities. I think many rich and successful people are dying to be in such a position and would even pay for it. As for the money part, what does the president do and how much is he deserving is now questionable.

Let me start with the gambler. Simply put, the gambler takes chances by placing his bets. When he loses, he blames it on bad luck. When he wins, he can brag about his gambling skills. In a way the fund managers also places his bets which he calls its investing. And he employs very talented and highly qualified people to justify what he is doing. All done carefully, objectively, with charts and figures. No guess work. When he makes money, he too will brag about how clever and talented he is. When he loses, there are always the forces beyond his control or he is investing in the long term. He will have the long term to cover his bad bets.

There are some startling differences between a gambler and a fund manager. The gambler’s cost is only himself. And he gambles with his own money. The fund manager pays all the top talents a fortune to place his bets. And when he loses, even in hundreds of billions, it is always other people’s money, not his money. He always wins with his huge pay packet and huge cuts in winnings. He is much better than the gambler in many ways.

And when a fund manager loses big, he can go to the president for more money. Here is the relationship. The Elected President is there to say yes or no to the fund manager gambling with the country’s reserves. But how can the EP say no when the fund manager says he is investing in the long term and will win back all his money in a matter of time? His short term loss is due to circumstances beyond his control.

What if the Elected President says no? He can be removed as the fund manager can claim that he is opposing his instruction. According to the Law Minister, an Elected President that challenges the govt can be removed. So how? Does the Elected President have any machinery or forces behind him to take on the govt? The govt is in control of everything, the media, the uniformed services, the civil services, the Unions, the clans and all govt related agencies and institutions. How could an Elected President say no to a ruling govt when he can be simply removed?

Here comes the question of his $10m pay. Should the president be paid $4m -$10m to say no when he can’t really say no? And this is the reality if one listens to the campaign speeches of the presidential hopefuls. They want to do all kinds of things that are nice to have but really quite irrelevant, and do not justify the money or the position. Who cares what they want to do? What is important is his ability to make sure that the reserves is not squander away. But can the EP do it?

An embarrassing moment repeating?

The likeable George Yeo could not imagine that he could be bundled out of a general election. Frankly, I too was surprised by his defeat and the losing of 5 super talents in one go. On reflection, none of them should take it personally as the defeat was not their fault. There was a change of wind. The defeat was a defeat of the PAP. Too much, too long, the PAP has overstayed its welcome and the people were looking for a change.

There was resentment too. The policies of the past decade have alienated the people to a point that the anger must be released. And George Yeo and his team were the unfortunate scapegoat. Nothing personal.

The present election for the EP could see another embarrassing moment being repeated. The possibilility of Tony Tan losing the election is very high despite all the endorsements from all corners appearing in the media. Endorsements by office bearers and committees are different from the feelings of the rank and file. The elite will think differently and may want to sit in the same table and sing the same song. The masses, the ordinary people, may have a mind of their own and want to do their own thing.

Don’t be surprised if Tony Tan did not make it to the Istana. What if he loses his deposit? That will be terribly embarrassing. But again, it has nothing to do with him. The vote against him is likely to be a vote against the ruling party. For the moment Tony is the front runner with endorsements from every where. He is having a good start.

Strange for me to look at the Presidential Election in this manner as it is not meant to be partisan or political while my whole reasoning is about politics, nothing but politics.

Would we see the knuckle duster again?

My article on Lee Hsien Loong’s National Day concessions is pretty generous and I thought for a start it is quite promising. There are other perspectives that are calling for more changes while some are asking for compensation for the wrongs and damages done by past policies. These are very serious in monetary terms for those badly hurt by the education policies and housing fiasco that were trumpeted as great jobs done. They were nearly awarded the public stars. We know that they are now history, good riddance.

Hsien Loong has taken a more conciliatory approach to deal with the problems, used to be called achievements, created by policies of the past few years. Trying to accept them and see them as problems and looking for solutions to them must be quite pressurizing. It could be different, a triumphant glory, if they were painted as great policies and nothing needs to be done. As things are, there is an admission that not all are right or good stuff. Some were blatantly disgusting.

What if Hsien Loong took the kpkbs negatively, or someone suggested to him that he needs to be tough, never retreat under pressure, never allowed the people to make demands on him, and offers him the knuckle duster? If that happens, I can easily foresee the following developments.

There will be a clamp down on new media. There will be people being sued. There could be midnight callers. And Hsien Loong could appear on national TV to speak to the people in a different tone. He may even shed some tears for the tough measures that he had to take against the detractors, all for the good of the country. The country will be pitched to be in a state of crisis, and tension would spread across the island. Some may end up as bankrupts, some may escape from paradise.

And all the ministers who were stripped from their posts will be resurrected and elevated to high pedestals, as heroes who made tough decisions. Only strong and good leaders are capable of making tough decisions even when the policies hurt the people badly. But there is always the long term good to preach. In the long run, like from a distance, the earth looks so beautiful, and everything will turn out well.

And everything goes on as usual, with all the past policies in force. Property owners will be smiling when property prices shoot to the sky. CPF holders will be smiling when they read their monthly statements. Foreign talents will be smiling everywhere and telling their country men that Singapore is a paradise. And more foreigners will be queuing up to come to paradise. Some will be pointing to the jams everywhere as signs of progress and vibrancy.

There will be high economic growth and prosperity, at all cost. And everything else is just an aspiration, except money in the pocket.