Singaporean Chinese are different. They are not the same as the China Chinese or the Malaysian Chinese or Taiwan Chinese or any Chinese around the world. But some bear a very dominant trait in hating anything Chinese, dismissing anything Chinese, finding Chinese disgusting and something to be dissociated with. They see China Chinese as the lepers of the world, the rogue nation that meant no good but harm to the world. To this group of Singaporean Chinese, the China Chinese are the pariahs, the untouchables.
They forgot that they are Chinese too. They may call themselves Singaporeans or international citizens, citizens of the world, but they cannot hide the fact that they are the same disgusting Chinese that they detest and hate. There is no ethnic identity or pride in who they really are. They may harbour thoughts of dying their hair blond, bleaching their skin white, and adopt all mannerism of the westerners.
Can anyone be respected when he can’t even respect himself, his own identity and his own ethnicity? Such people will only be regarded as outcasts by their own ethnic groups, and be sneered at by those they hoped to be and wanted to be. The very basis of respectability is to respect yourself, your own ethnicity, be it Malay, Indian, Eurasian or Chinese. Only by respecting self can one earn respect from others.
I am a Singaporean Chinese. I do not hate nor despise the Chinese. Neither do I adore or idolize them. I do not prejudged them. I look at them as another people, to be respected or to be dissociated from, by their acts, by rights or wrongs that they do. Not simply because they are China Chinese. This applies to all other races. The 1.5b people cannot be simply grouped into one, one type, one kind, one behavior, bad and nothing good. They are a sea of humanity, with good and bad and ugly, just like us, just like every ethnic group.
But we have some very different Singaporean Chinese that have stereotyped the China Chinese, China, as simply of one kind, bad, bad intent, bad in everything. How their mindset gets to this level, with deep seated perversion of thoughts and thinking process is difficult to fathom. Our education system does not teach them to hate their ancestors, their breed or their ethnicity. How did they grow up to become thus? Yes, the Singaporean Chinese is different from all other Chinese, but some are much more different. To this group, they take pride in hating China and anything Chinese.
If they cannot see anything good in their own ethnicity, can others see anything good in them?
10/07/2011
10/06/2011
Singapore a big player among the super powers
Yes we punch above our weight. And we must guard our national interest zealously, and speak out against any nation that does anything that will harm our national interest. One particular nation is China. China is growing its military forces to a level that is becoming a threat to us. It is building aircraft carriers too, never mind if their ICBM will wipe us off the face of this earth, and this will undermine the free passage of ships along international waterways. It will be dangerous if they park their aircraft carriers in the South China Sea or in the Straits of Malacca. We must question China’s motive.
We have no problems with the Americans. Our national interests coincide with the Americans. And we are pleased with their military might and military presence. They are here to protect our national interests. The Americans are a benign and friendly superpower. They have military bases everywhere, sailing their naval fleets everywhere, including the South China Sea, all for altruistic reasons, to protect smaller countries against China. Just dunno who America was protecting against before China. What is good for the Americans is good for us. What is good for China may be dangerous to us.
Americans know this and are watching the Chinese like a hawk. The Chinese are now an equal to the American war machine. Even India is concerned. India has historical and territorial disputes with the Chinese. And both are Asian superpowers and are rivals in this sense.
The trouble is that the arrogant Chinese are ignoring even India. They are only running a race with the Americans in their cross hair. They have no time to cast a glance at the Indians. The Indians are inconsequential to them.
But still we must make known our concerns to the Chinese, to make them listen to us. China must consider our national interest in what they do. They better don’t ignore us. Hey China, tell us why you need to build such a big and powerful military force? Tell us, tell us, we want an answer. We need to question you for our national interest.
China, tell us of your intention. Don’t be rude, we are asking you, tell us, tell us…..tell us please….please. Look down here, we are here.
We have no problems with the Americans. Our national interests coincide with the Americans. And we are pleased with their military might and military presence. They are here to protect our national interests. The Americans are a benign and friendly superpower. They have military bases everywhere, sailing their naval fleets everywhere, including the South China Sea, all for altruistic reasons, to protect smaller countries against China. Just dunno who America was protecting against before China. What is good for the Americans is good for us. What is good for China may be dangerous to us.
Americans know this and are watching the Chinese like a hawk. The Chinese are now an equal to the American war machine. Even India is concerned. India has historical and territorial disputes with the Chinese. And both are Asian superpowers and are rivals in this sense.
The trouble is that the arrogant Chinese are ignoring even India. They are only running a race with the Americans in their cross hair. They have no time to cast a glance at the Indians. The Indians are inconsequential to them.
But still we must make known our concerns to the Chinese, to make them listen to us. China must consider our national interest in what they do. They better don’t ignore us. Hey China, tell us why you need to build such a big and powerful military force? Tell us, tell us, we want an answer. We need to question you for our national interest.
China, tell us of your intention. Don’t be rude, we are asking you, tell us, tell us…..tell us please….please. Look down here, we are here.
Continuous good news in the property front
During the last term of Mah Bow Tan, there was continuous good news of property prices and that they were very affordable by the way they computed affordability. When Boon Wan took over, there was continuous good news of property prices too, from building more flats to some changes in HDB policies and priorities for first timers. And the people were equally happy.
Yesterday there were two charts in the media, one on property price index over 11 years and one on HDB resale price index for 5 quarters, 2 from 2010 and 3 from 2011. The first chart showed that property price index was almost flat from 2001 to 2006. Only in 2007 that it started to shoot up and this uptrend has been consistent till today for HDB resale price. What this means is that the prices are still going up at the same pace, no letting up.
From a base of 172 in the 4th quarter of 2011, the HDB resale price index has gone up by 1.6%, 3.1% and 3.8% in the third quarter of 2011. Yes, it is going up, regardless of the number of new flats that Boon Wan is going to build. And the good news is ‘Good progress in meeting flat demand.’ Nothing about the price.
Using the 172 base, HDB resale price till the third quarter has gone up by 15.1 points to 187.1 or 8.8%. By end of the year it could easily cross the 10% mark. Again looking at the first chart, the index was at 150 at end of 2009, or an increase of 37.1 points or 24.7% by the third quarter of 2011. These must also be good news for the property owners. For the buyers or potential buyers, it can also be good news as it means that at whatever price they are going to buy their new flats, they can expect the price to go up by more than 10% per annum or doubling the price in 10 years. In reality, with the compound growth effect, the price could easily double in less than 10 years.
What more good news can one ask for? And better still, with a decreasing lease life but rising prices.
Yesterday there were two charts in the media, one on property price index over 11 years and one on HDB resale price index for 5 quarters, 2 from 2010 and 3 from 2011. The first chart showed that property price index was almost flat from 2001 to 2006. Only in 2007 that it started to shoot up and this uptrend has been consistent till today for HDB resale price. What this means is that the prices are still going up at the same pace, no letting up.
From a base of 172 in the 4th quarter of 2011, the HDB resale price index has gone up by 1.6%, 3.1% and 3.8% in the third quarter of 2011. Yes, it is going up, regardless of the number of new flats that Boon Wan is going to build. And the good news is ‘Good progress in meeting flat demand.’ Nothing about the price.
Using the 172 base, HDB resale price till the third quarter has gone up by 15.1 points to 187.1 or 8.8%. By end of the year it could easily cross the 10% mark. Again looking at the first chart, the index was at 150 at end of 2009, or an increase of 37.1 points or 24.7% by the third quarter of 2011. These must also be good news for the property owners. For the buyers or potential buyers, it can also be good news as it means that at whatever price they are going to buy their new flats, they can expect the price to go up by more than 10% per annum or doubling the price in 10 years. In reality, with the compound growth effect, the price could easily double in less than 10 years.
What more good news can one ask for? And better still, with a decreasing lease life but rising prices.
What’s the message?
I was watching this new police TV serial, EU or Emergency Unit, from Hongkong showing in Channel U. It ended last night. It was about the police against crime and triads. The triads are still there even after 1997. The serial was about the good, the honourable versus the crooked and dishonourable. The young police officers who found taking down drug traffickers and triad bosses a heroic thing to do, despite the low salary and status as police officers. Even the senior officers were devoted to their duties in service to the people, the citizens. There were risks, the young officers went undercover and giving up their lives in the course of duty.
Such admirable traits and values can only be seen in celluloid, not in real life. Hongkong used to be a very corrupt place during the colonial rule. Corruption in the civil service was rampant all the way, particularly the police force, from the little Ah Sirs walking the beat to the angmoh superintendents and higher. Money was spread all round by the triad bosses. Hongkong today is the other extreme. Corruption and triad activities have been brought down to a level unknown in its history.
I think the message of the Hongkong serial, and the MediaCorp, is that there are still idealistic young and old civil servants, and uniformed personnel, who would find duty and honour more important than just money, or to quote David Marshall, the joy and excitement of serving the people and country. The message is timely, as such virtues are now taken very lightly, seen more as desirable and idealistic but not practical in the real world. And those who want to live their lives through such values, good, though privately seen as rather daft. There is a better and real world where money and self interests are everything. Sacrifices and heroics are good to have for other people, but can live without for the practical and smart people. Only fools believe in such ideals and virtues today. The Hongkong serial is pure fiction. Agree?
PS. I think I am continuing my lecture in National Education and conducting the course here.
Such admirable traits and values can only be seen in celluloid, not in real life. Hongkong used to be a very corrupt place during the colonial rule. Corruption in the civil service was rampant all the way, particularly the police force, from the little Ah Sirs walking the beat to the angmoh superintendents and higher. Money was spread all round by the triad bosses. Hongkong today is the other extreme. Corruption and triad activities have been brought down to a level unknown in its history.
I think the message of the Hongkong serial, and the MediaCorp, is that there are still idealistic young and old civil servants, and uniformed personnel, who would find duty and honour more important than just money, or to quote David Marshall, the joy and excitement of serving the people and country. The message is timely, as such virtues are now taken very lightly, seen more as desirable and idealistic but not practical in the real world. And those who want to live their lives through such values, good, though privately seen as rather daft. There is a better and real world where money and self interests are everything. Sacrifices and heroics are good to have for other people, but can live without for the practical and smart people. Only fools believe in such ideals and virtues today. The Hongkong serial is pure fiction. Agree?
PS. I think I am continuing my lecture in National Education and conducting the course here.
10/05/2011
Sushi any one?
Or would you prefer a half inch thick medium rare Kobe beef, where the cows were fed with beer and given massages under the watchful eyes of their caregivers?
There is now a furore over the dolphins in RWS. And many people are crying foul, for keeping free living dolphins in captivity and putting them under a lot of stress with tough trainings to perform acts to please. And RWS has replied that they are committed to marine conservation and research and the knowledge learnt from the captive dolphins would be used to make life better for the dolphins and marine life. Sound convincing?
I think the Japanese were much better in telling the world that their cullings of tunas and whales were strictly for research as well. And they are killing them by the millions annually. And no one says the Japanese were lying. How’s that compare to the 10 or 20 dolphins in RWS that are kicking and swimming and alive? How’s that compare to the hundreds of dolphins in other parks around the world? Sure some will die naturally, in captivity or in the wild. Nothing beats what Nature makes them to be.
The tunas and whales have an easier time. They need not suffer the pain and stress of training and performing to crowds. They just ended at the dinner table. Oh, training and performing are bad for animals. I will support the banning of all animal shows, including circus and dog shows. The owners and trainers thought it was fun and very clever to make the animals do all those tricks. But the animals were also put through many painful and stressful lessons to learn and practice them.
All animals should be free in their natural environment, not in captivity, not in HDB flats. And also not on the dinner table. Now, what am I ranting about? It is all garbled. I also want to save all the animals and the world. Incidentally, I am half vegetarian. I still eat killed animals on alternate days and cooked vegetables for the other days.
There is now a furore over the dolphins in RWS. And many people are crying foul, for keeping free living dolphins in captivity and putting them under a lot of stress with tough trainings to perform acts to please. And RWS has replied that they are committed to marine conservation and research and the knowledge learnt from the captive dolphins would be used to make life better for the dolphins and marine life. Sound convincing?
I think the Japanese were much better in telling the world that their cullings of tunas and whales were strictly for research as well. And they are killing them by the millions annually. And no one says the Japanese were lying. How’s that compare to the 10 or 20 dolphins in RWS that are kicking and swimming and alive? How’s that compare to the hundreds of dolphins in other parks around the world? Sure some will die naturally, in captivity or in the wild. Nothing beats what Nature makes them to be.
The tunas and whales have an easier time. They need not suffer the pain and stress of training and performing to crowds. They just ended at the dinner table. Oh, training and performing are bad for animals. I will support the banning of all animal shows, including circus and dog shows. The owners and trainers thought it was fun and very clever to make the animals do all those tricks. But the animals were also put through many painful and stressful lessons to learn and practice them.
All animals should be free in their natural environment, not in captivity, not in HDB flats. And also not on the dinner table. Now, what am I ranting about? It is all garbled. I also want to save all the animals and the world. Incidentally, I am half vegetarian. I still eat killed animals on alternate days and cooked vegetables for the other days.
Of course it is a thoroughbred!
Who says the horse is sick? Who says it is a workhorse, a farm horse? It is every inch a thoroughbred, and a winner. This is the other side of the coin. I read somewhere that several hundred companies are queuing up to list in the SGX. With all the listing fees, the bottom line of SGX will be extremely healthy.
I think every little company here or in China or anywhere in the world would want to be listed here. It is quite easy to raise several millions or tens of millions when liquidity is plentiful. After collecting the largesse, the viability of the company is a different story. Many unforeseeable events can happen quickly and the business could easily fail.
Nevermind, can always start another new company and a new listing. And there are still plenty of willing investors with plenty of money waiting for new IPOs.
There were horror stories of foreign companies running road, with their top management disappearing into thin air. There were stories of companies being scavenged and only a shell was left. But they were not many enough to turn into a horror serial. It is normal for such things to happen.
SGX is the best run Asian stock exchange and competing with HK as the number two biggest exchange in terms of capitalization. Never mind if it hosted a large number of penny stocks in its main board. There will be more companies from the second board being elevated to the first board to make up for the losses.
And the volume of trades is increasing to the region of billions daily. At $1b trades a day, at 0.3% commission rate, that is a cool $3 million revenue to be spread among the industry players. Divide by a workforce of 6,000 heads, that will give an average of $500 per head daily. It is a very healthy industry.
If they can get all the companies waiting in the pipeline to be listed, the industry should be able to absorb another 1,000 staff with more money to spread around.
It is definitely not a sick horse. Just another side of a story. Look at the volume and volatility over the last few days! This is great time for stock trading with great opportunities to make a pile. Just keep selling, no need to think, and sure to make profits. The banks have lost something like 30% of their values and the major shareholders must be licking their wounds. But for traders, especially big funds and their wonderful high speed computers, they must be making a killing.
For small investors, sell the blue chips, or if not, wait for a while longer, they will soon become penny stocks. Then go in and scoop them up in buckets and wait for another 30 years. Sure to go back to $30. Our stock market is doing excellent and many traders and investors are making plenty of money. Good times are here again.
With the volumes in the billions, SGX must be collecting quite a lot of clearing fees. Broking houses must also be harvesting a lot of commissions. The industry is well and alive, and kicking.
I think every little company here or in China or anywhere in the world would want to be listed here. It is quite easy to raise several millions or tens of millions when liquidity is plentiful. After collecting the largesse, the viability of the company is a different story. Many unforeseeable events can happen quickly and the business could easily fail.
Nevermind, can always start another new company and a new listing. And there are still plenty of willing investors with plenty of money waiting for new IPOs.
There were horror stories of foreign companies running road, with their top management disappearing into thin air. There were stories of companies being scavenged and only a shell was left. But they were not many enough to turn into a horror serial. It is normal for such things to happen.
SGX is the best run Asian stock exchange and competing with HK as the number two biggest exchange in terms of capitalization. Never mind if it hosted a large number of penny stocks in its main board. There will be more companies from the second board being elevated to the first board to make up for the losses.
And the volume of trades is increasing to the region of billions daily. At $1b trades a day, at 0.3% commission rate, that is a cool $3 million revenue to be spread among the industry players. Divide by a workforce of 6,000 heads, that will give an average of $500 per head daily. It is a very healthy industry.
If they can get all the companies waiting in the pipeline to be listed, the industry should be able to absorb another 1,000 staff with more money to spread around.
It is definitely not a sick horse. Just another side of a story. Look at the volume and volatility over the last few days! This is great time for stock trading with great opportunities to make a pile. Just keep selling, no need to think, and sure to make profits. The banks have lost something like 30% of their values and the major shareholders must be licking their wounds. But for traders, especially big funds and their wonderful high speed computers, they must be making a killing.
For small investors, sell the blue chips, or if not, wait for a while longer, they will soon become penny stocks. Then go in and scoop them up in buckets and wait for another 30 years. Sure to go back to $30. Our stock market is doing excellent and many traders and investors are making plenty of money. Good times are here again.
With the volumes in the billions, SGX must be collecting quite a lot of clearing fees. Broking houses must also be harvesting a lot of commissions. The industry is well and alive, and kicking.
Shsssssh…Don’t tell anyone
When one has some money, it is better to keep quiet and don’t let anyone know. The moment words get out that someone has a pile of money, soon the money will be gone, if he is lucky. If not, his life too may be gone with the money. For those people still trying to ask GIC and Temasek to reveal how much they have in their kitties, please don’t. It is not so much about the big funds raiding them or attacking them in the stockmarkets. The things that would happen would be very simple and innocent, and with good intention.
Remember the American financial crisis? No, nobody remembers. They only remember the Global financial crisis. But it is the same thing. It was the American financial crisis that turned global, affecting the world. The main causes, subprime loans, housing price collapsed, CDOs, CDS, toxic notes, leading to the collapse of several major American banks and the rest of the financial world. They would not want to admit or lend the name America, to the worst financial fiasco in modern history.
What happened was that they knew GIC and Temasek got plenty of money and came to talk to them nicely. Citibank, Merrill Lynch, UBS, Barclay etc etc were queuing up at the door, like the Europeans now in China. GIC and Temasek were just too polite to say no. After all they just had too much money and lending some money to them was nice and proper, and good investments if they turned out to be good. The results, probably tens of billions down the drain.
This is the biggest danger in telling people that you have plenty of money. It stimulates people to think of ways to have a share of it.
Domestically the same story was repeated several times. The people have plenty of money in the CPF. This one unfortunately cannot hide. Public knowledge. So when people got so much money in the CPF, they can afford to buy a lot of things. And HDB flats were then sold to them, at market prices, according to their affordability, ie how much they had in their CPF. So a flat can be sold at $100k became $200k, became $300k, and still very affordable viv a vis the CPF savings. The rest is history. The CPF savings were depleted.
Then the medical professions also wanted a share of the money in the CPF kitty before it was emptied. They came out with a Minimum Sum Medisave Scheme, and a chunk was taken from the kitty for this noble cause. Cannot touch except for them or until mati.
Wait wait. The insurance man came and said I also want some. And CPF Life was born. Did anyone say money for gambling chips?
Anymore money left in the CPF kitty? See how dangerous it is to let people know you have money in the kitty? This is grandma’s wisdom.
Remember the American financial crisis? No, nobody remembers. They only remember the Global financial crisis. But it is the same thing. It was the American financial crisis that turned global, affecting the world. The main causes, subprime loans, housing price collapsed, CDOs, CDS, toxic notes, leading to the collapse of several major American banks and the rest of the financial world. They would not want to admit or lend the name America, to the worst financial fiasco in modern history.
What happened was that they knew GIC and Temasek got plenty of money and came to talk to them nicely. Citibank, Merrill Lynch, UBS, Barclay etc etc were queuing up at the door, like the Europeans now in China. GIC and Temasek were just too polite to say no. After all they just had too much money and lending some money to them was nice and proper, and good investments if they turned out to be good. The results, probably tens of billions down the drain.
This is the biggest danger in telling people that you have plenty of money. It stimulates people to think of ways to have a share of it.
Domestically the same story was repeated several times. The people have plenty of money in the CPF. This one unfortunately cannot hide. Public knowledge. So when people got so much money in the CPF, they can afford to buy a lot of things. And HDB flats were then sold to them, at market prices, according to their affordability, ie how much they had in their CPF. So a flat can be sold at $100k became $200k, became $300k, and still very affordable viv a vis the CPF savings. The rest is history. The CPF savings were depleted.
Then the medical professions also wanted a share of the money in the CPF kitty before it was emptied. They came out with a Minimum Sum Medisave Scheme, and a chunk was taken from the kitty for this noble cause. Cannot touch except for them or until mati.
Wait wait. The insurance man came and said I also want some. And CPF Life was born. Did anyone say money for gambling chips?
Anymore money left in the CPF kitty? See how dangerous it is to let people know you have money in the kitty? This is grandma’s wisdom.
10/04/2011
High-Frequency Traders May Face Tougher EU Market-Abuse Rules
By Jim Brunsden
Sept. 13 (Bloomberg) -- The European Union is considering
listing “specific examples of strategies using algorithmic
trading and high-frequency trading” that should be banned and
punished by regulators as market manipulation.
The measures to increase investor protection and reduce
volatility are part of plans to clamp down on market abuse in
the European Union, according to a draft of the proposals
obtained by Bloomberg News.
“There are particular automated strategies that have been
identified by regulators which, if carried out, are likely to
constitute market abuse,” the document says. “Further
identifying abusive strategies will ensure a consistent approach
in monitoring and enforcement by competent authorities.”
High-frequency traders have come under increased
regulatory scrutiny following the so-called flash crash in May
last year, during which the Dow Jones Industrial Average briefly
lost almost 1,000 points.
Michel Barnier, the EU’s financial services chief, has said
the tougher market-abuse rules are needed because current
sanctions are too weak.
Under the proposals, regulators would get the power to set
maximum fines for financial services companies of at least 10
percent of their annual sales. Individual traders would face
fines of at least 5 million euros ($6.8 million) for the worst
infractions.
Traders found guilty of “intentionally” engaging in
insider dealing and market manipulation should face criminal
sanctions that are, “effective proportionate and dissuasive,”
according to the draft rules.
Under the plans, which would need approval from governments
and members of the European Parliament, unsuccessful attempts to
manipulate markets should also be punished.
The above is a Bloomberg article.
Europe is talking about hefty fines and criminal charges to traders abusing the system through the use of high frequency trading. The criminal aspect of this methodology is clear but have been ignored by the regulators in the US where it originated. The unwillingness of Congress/Senate to pass laws to rein in the destructiveness of high frequency trading is criminal, and understandable given the incestuous relationship between the law makers and the banksters.
Europe is slightly away and could be relied upon, relatively, to take actions against the rogue part of high frequency trading. Regulators who slept with the devil will dance with the devil and protect the devil. Hoping that the Americans will take action earlier is not going to happen and Europe may be the saviour to this menace.
Sept. 13 (Bloomberg) -- The European Union is considering
listing “specific examples of strategies using algorithmic
trading and high-frequency trading” that should be banned and
punished by regulators as market manipulation.
The measures to increase investor protection and reduce
volatility are part of plans to clamp down on market abuse in
the European Union, according to a draft of the proposals
obtained by Bloomberg News.
“There are particular automated strategies that have been
identified by regulators which, if carried out, are likely to
constitute market abuse,” the document says. “Further
identifying abusive strategies will ensure a consistent approach
in monitoring and enforcement by competent authorities.”
High-frequency traders have come under increased
regulatory scrutiny following the so-called flash crash in May
last year, during which the Dow Jones Industrial Average briefly
lost almost 1,000 points.
Michel Barnier, the EU’s financial services chief, has said
the tougher market-abuse rules are needed because current
sanctions are too weak.
Under the proposals, regulators would get the power to set
maximum fines for financial services companies of at least 10
percent of their annual sales. Individual traders would face
fines of at least 5 million euros ($6.8 million) for the worst
infractions.
Traders found guilty of “intentionally” engaging in
insider dealing and market manipulation should face criminal
sanctions that are, “effective proportionate and dissuasive,”
according to the draft rules.
Under the plans, which would need approval from governments
and members of the European Parliament, unsuccessful attempts to
manipulate markets should also be punished.
The above is a Bloomberg article.
Europe is talking about hefty fines and criminal charges to traders abusing the system through the use of high frequency trading. The criminal aspect of this methodology is clear but have been ignored by the regulators in the US where it originated. The unwillingness of Congress/Senate to pass laws to rein in the destructiveness of high frequency trading is criminal, and understandable given the incestuous relationship between the law makers and the banksters.
Europe is slightly away and could be relied upon, relatively, to take actions against the rogue part of high frequency trading. Regulators who slept with the devil will dance with the devil and protect the devil. Hoping that the Americans will take action earlier is not going to happen and Europe may be the saviour to this menace.
When America was rich
When America was rich, or when England and the Europeans were rich, it was like a matter of fact. The world just looked on, maybe a bit envious, but wanted to be rich like them. The world even forgot how the Western empires became rich, literally over their dead bodies, through conquest and looting, but they called it colonisation. This sounded much more pleasant as if colonising other countries to get rich, stripping away their resources and human rights and rights to ownership of their land, were a natural, normal and acceptable thing.
Now China is getting rich, by sheer hardwork, working for lesser pay, stinging and savings, no killings, no looting, no colonising, just plain hardwork.
Now watch this video and observe the expression and sense the mood and the words used to describe China's economic growth. I am wondering if it is amusing or what?
http://www.youtube.com/watch?v=1cNJw9U5bqc
Now China is getting rich, by sheer hardwork, working for lesser pay, stinging and savings, no killings, no looting, no colonising, just plain hardwork.
Now watch this video and observe the expression and sense the mood and the words used to describe China's economic growth. I am wondering if it is amusing or what?
http://www.youtube.com/watch?v=1cNJw9U5bqc
No more space for roads?
When I heard of this news I was kinda, really? We have plentiful of land for housing, in fact we are going to increase the population to another few millions for sure, or our growth will go negative. There are millions waiting to be received by our open arms. Housing is definitely not a problem as we can just build and build, by getting the priorities right, by allotting more land for private properties and bigger profits.
When roads are declared as limited, when car population is limited, when COE prices are going to hit ninth heaven, what are the implications? For those who really need cars out of pure necessities, be it work or physical needs, like the aged, invalids, and the happy broods of children, what’s next? Life is going to be a misery, no joke.
What about the high end new citizens or PRs? They need cars, plenty of cars, as they can afford it, as a hobby. Even the local rich are collecting cars with some having tens or more in their collections.
Car ownership is not just a means of transportation to some. But the crucial purpose of car ownership is transportation. Should there be a rethink and review of car ownership policies in the light of the increasing constraints and high prices?
This is also applicable to ownership of properties. With limitation of land, of course some assholes will say ‘who said so’, land is for the building of homes, a roof over the heads. Land for investment and speculation, is going to drive property prices out of the reach of many. A rethink with respect to land for residential purposes, for the citizens, is urgent. How the govt is going to apportion land for strictly residential purposes or for the speculators to use as chips in their gambling game is tricky, or maybe not, if everything is about getting full value or profits.
Living in paradise is going to be very tough for the aspiring young who wanted a good life, ie good housing and ownership of private transport. It is also going to be a big struggle, and frustrating for the daddies and mummies with 2 or more children, and those with handicapped oldies at home. How are people going to have more babies?
Don’t worry, the marginal people will opt to move out. The very rich who have no problem with money, with $100k COE and multi million dollar shoeboxes will be happily wading to our shores.
The whole social framework and life style will not be the same again.
When roads are declared as limited, when car population is limited, when COE prices are going to hit ninth heaven, what are the implications? For those who really need cars out of pure necessities, be it work or physical needs, like the aged, invalids, and the happy broods of children, what’s next? Life is going to be a misery, no joke.
What about the high end new citizens or PRs? They need cars, plenty of cars, as they can afford it, as a hobby. Even the local rich are collecting cars with some having tens or more in their collections.
Car ownership is not just a means of transportation to some. But the crucial purpose of car ownership is transportation. Should there be a rethink and review of car ownership policies in the light of the increasing constraints and high prices?
This is also applicable to ownership of properties. With limitation of land, of course some assholes will say ‘who said so’, land is for the building of homes, a roof over the heads. Land for investment and speculation, is going to drive property prices out of the reach of many. A rethink with respect to land for residential purposes, for the citizens, is urgent. How the govt is going to apportion land for strictly residential purposes or for the speculators to use as chips in their gambling game is tricky, or maybe not, if everything is about getting full value or profits.
Living in paradise is going to be very tough for the aspiring young who wanted a good life, ie good housing and ownership of private transport. It is also going to be a big struggle, and frustrating for the daddies and mummies with 2 or more children, and those with handicapped oldies at home. How are people going to have more babies?
Don’t worry, the marginal people will opt to move out. The very rich who have no problem with money, with $100k COE and multi million dollar shoeboxes will be happily wading to our shores.
The whole social framework and life style will not be the same again.
10/03/2011
Arab Spring coming
Some were hoping that Arab Spring will come to Asia, especially China. Some hope that it will come to paradise island. Arab Spring is coming and spreading. The first stop is in Greece. Now a bigger one is happening, of all the imaginable places, New York and Boston. Now, where are these two place located on planet earth? The USA of course.
Thousands were marching in New York, to the Stock Exchange and Wall Street. They want to tear down the greedy financial houses like Goldman Sach and the likes. The greedy bankers and their destructive ways are proven as the new cancer of the finance industry and is ruining America and the world. They need to be stopped.
Greed is good to the Wall Street robbers. But Greed is definitely unacceptable to Main Street America, the average Joes are suffering while the robbers in Wall Streets are asking for more and more pay and bonuses. And of course Washington and Congress were the accomplices that are aiding the robbers to continue to loot the average Joes in America.
The Arab Spring is starting in the streets of the USA.
Thousands were marching in New York, to the Stock Exchange and Wall Street. They want to tear down the greedy financial houses like Goldman Sach and the likes. The greedy bankers and their destructive ways are proven as the new cancer of the finance industry and is ruining America and the world. They need to be stopped.
Greed is good to the Wall Street robbers. But Greed is definitely unacceptable to Main Street America, the average Joes are suffering while the robbers in Wall Streets are asking for more and more pay and bonuses. And of course Washington and Congress were the accomplices that are aiding the robbers to continue to loot the average Joes in America.
The Arab Spring is starting in the streets of the USA.
Retiring plans getting topsy turvy
Not only that Singaporeans cannot retire gracefully, I mean the average working class Singaporeans, they now have to start life all over again like a 20 something. They have to start to find a job, to start to save, to worry if they will still be getting the same share of CPF contributions, not because they are going to start another family, but to pay for housing which should have been paid long ago, and the ridiculous medical bills akan datang.
How did we arrive at this pathetic and desperate position when we were one of the biggest savers in the world? We saved 50% of our income, then slowly reduced to slightly below 40% today. This is still an awesome sum of money to save for a life time, but only to realize, not enough leh. Now Ah Kong and Ah Mah must start saving, and to work, to fight with employers for more CPF. This is like the saying, ‘boh geh’ still want to eat peanuts.
This is the ultimate, and par excellence, in retirement planning of a first world nation. Suddenly everything is just a fleeting dream. The govt is now working hard to make employers pay CPF to the oldies as if they were short changing them. Even their income got to be the same as the young twenty something.
Bull. Let’s face it, not everyone is a LKY or an Emeritus Minister that can keep on thinking of getting bigger and bigger pay as they age. Not everyone is a super talent minister that can be appointed as Chairman here and there, and directors everywhere, to collect more and more pay.
The oldies should be retiring and live on their savings, and taking life easier. Go for a different kind of pursuit, at their own time and own pleasure. There are just so many jobs that the oldies can do, at the same pace and quality as the young. No kidding, our body and system age with time.
We thought our great savings and retirement plans were first class. But we did not bargain for some jokers to throw in the spanner half way, to empty our nest egg with ever increasing housing and medical fees. Now the nest egg is nearly empty. And the oldies panic. And everyone panic.
Who in the first place emptied the nest eggs of the oldies? Now all the policies on ageing and retiring is turning topsy turvy, expecting the oldies to do the contrary, to demand for jobs, for more pay, for more CPF, to save some more. And they are expecting the employers to hire all the oldies when the latter could pay for less with so many foreign talents waiting and knocking at their doors. What a joke!
Ok, Ah Kong and Ah Mah, please line up and open a savings account with POSB, and put in $1 every day and see it grows. Then when the time comes for retirement, the money would have grown, and no more worries. Sure, dead people sure got no worries.
How did we arrive at this pathetic and desperate position when we were one of the biggest savers in the world? We saved 50% of our income, then slowly reduced to slightly below 40% today. This is still an awesome sum of money to save for a life time, but only to realize, not enough leh. Now Ah Kong and Ah Mah must start saving, and to work, to fight with employers for more CPF. This is like the saying, ‘boh geh’ still want to eat peanuts.
This is the ultimate, and par excellence, in retirement planning of a first world nation. Suddenly everything is just a fleeting dream. The govt is now working hard to make employers pay CPF to the oldies as if they were short changing them. Even their income got to be the same as the young twenty something.
Bull. Let’s face it, not everyone is a LKY or an Emeritus Minister that can keep on thinking of getting bigger and bigger pay as they age. Not everyone is a super talent minister that can be appointed as Chairman here and there, and directors everywhere, to collect more and more pay.
The oldies should be retiring and live on their savings, and taking life easier. Go for a different kind of pursuit, at their own time and own pleasure. There are just so many jobs that the oldies can do, at the same pace and quality as the young. No kidding, our body and system age with time.
We thought our great savings and retirement plans were first class. But we did not bargain for some jokers to throw in the spanner half way, to empty our nest egg with ever increasing housing and medical fees. Now the nest egg is nearly empty. And the oldies panic. And everyone panic.
Who in the first place emptied the nest eggs of the oldies? Now all the policies on ageing and retiring is turning topsy turvy, expecting the oldies to do the contrary, to demand for jobs, for more pay, for more CPF, to save some more. And they are expecting the employers to hire all the oldies when the latter could pay for less with so many foreign talents waiting and knocking at their doors. What a joke!
Ok, Ah Kong and Ah Mah, please line up and open a savings account with POSB, and put in $1 every day and see it grows. Then when the time comes for retirement, the money would have grown, and no more worries. Sure, dead people sure got no worries.
10/02/2011
The Smartest Man in America
President Thomas Jefferson is often considered to be the smartest President in U.S. history. What is most interesting is that Jefferson warned of the damage that would be caused if the people assigned control of the money supply to the banking sector,
"I believe that banking institutions are more dangerous to our liberties than standing armies… If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."
President Jefferson’s prediction has unfolded exactly as he said it would. Banks and Corporations have done what no enemy could accomplish: they have destroyed the American way of life.
Banks have:
• Crashed our economy with easy credit and lax lending standards
• Left many American’s homeless
• Caused 401Ks to evaporate
• Raided the public treasury of billions of dollars
Corporations have sold out America. Corporations have:
• Outsourced American jobs
• Used tax loopholes to avoid paying their fair share
• Used profit as their only measure of success
The above is part of an article copied from tacticaldefensellc blog by Jim Lubbad. Read it carefully and think Singapore and how it can be similarly affected if things continue the way it is. We are being sold the idea of everything expensive is good, especially housing. The people are all deep in mortgage debt, and smiling at the paper gains of their properties. When deflation hits, looking very imminent, they will all lose their properties and become homeless. The bigger the housing loan, the faster will their properties go. First comes high inflation and follows by high deflation, the perfect formula for taking away the homes they sold to the home owners.
But we are safe, at least for the early buyers of HDB flats when the loans are mostly paid up. The new buyers, beware. The millstone on your neck is heavy.
"I believe that banking institutions are more dangerous to our liberties than standing armies… If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."
President Jefferson’s prediction has unfolded exactly as he said it would. Banks and Corporations have done what no enemy could accomplish: they have destroyed the American way of life.
Banks have:
• Crashed our economy with easy credit and lax lending standards
• Left many American’s homeless
• Caused 401Ks to evaporate
• Raided the public treasury of billions of dollars
Corporations have sold out America. Corporations have:
• Outsourced American jobs
• Used tax loopholes to avoid paying their fair share
• Used profit as their only measure of success
The above is part of an article copied from tacticaldefensellc blog by Jim Lubbad. Read it carefully and think Singapore and how it can be similarly affected if things continue the way it is. We are being sold the idea of everything expensive is good, especially housing. The people are all deep in mortgage debt, and smiling at the paper gains of their properties. When deflation hits, looking very imminent, they will all lose their properties and become homeless. The bigger the housing loan, the faster will their properties go. First comes high inflation and follows by high deflation, the perfect formula for taking away the homes they sold to the home owners.
But we are safe, at least for the early buyers of HDB flats when the loans are mostly paid up. The new buyers, beware. The millstone on your neck is heavy.
The elusive Singaporean Dream
Education is the tool to a better life, a leveller for everyone, regardless of his station in life, to move up the social ladder. It is true. Many from very challenging families have made it to become ministers and millionaires.
But that was history. The students will read in it in their history books of who and who from such a poor family and now so successful. A good education, particularly a university graduate, is like a life made. A graduate is expected to feed a family well, own a decent house, and a decent car. Actually the polytechnic graduates did far better than the university graduates in the industries.
The new story, graduates are driving taxis, graduates cannot find employment, graduates ended up working as temporary employees, or simply jobless graduates. They are also many stories of depressed graduates who are no longer the sought after son or daughter in laws, the prize catch.
A university or polytechnic degree is not the same anymore. Not only that the end result is dissimilar, the cost is also spectacular. To many graduates, or their parents, it is diminishing returns or actually a loss making enterprise. The cost of raising a children and putting him/her through university is so prohibitive and the returns so marginal. Some may question if it is worth the while or is there something wrong with the education formula?
A university or poly graduate is not a passport to a good life, or not guaranteed like in the past. The dream is getting more elusive. So what if you are a graduate? It is not the same anymore. You need to be an exceptional graduate, as 30% of each cohort is now a graduate.
But that was history. The students will read in it in their history books of who and who from such a poor family and now so successful. A good education, particularly a university graduate, is like a life made. A graduate is expected to feed a family well, own a decent house, and a decent car. Actually the polytechnic graduates did far better than the university graduates in the industries.
The new story, graduates are driving taxis, graduates cannot find employment, graduates ended up working as temporary employees, or simply jobless graduates. They are also many stories of depressed graduates who are no longer the sought after son or daughter in laws, the prize catch.
A university or polytechnic degree is not the same anymore. Not only that the end result is dissimilar, the cost is also spectacular. To many graduates, or their parents, it is diminishing returns or actually a loss making enterprise. The cost of raising a children and putting him/her through university is so prohibitive and the returns so marginal. Some may question if it is worth the while or is there something wrong with the education formula?
A university or poly graduate is not a passport to a good life, or not guaranteed like in the past. The dream is getting more elusive. So what if you are a graduate? It is not the same anymore. You need to be an exceptional graduate, as 30% of each cohort is now a graduate.
10/01/2011
Give me your money or else…
While many debt ridden countries are queuing up in Beijing for the dough, some corners of America are screaming that the Chinese economy is going to bust like the Japanese and the Americans. Would an economy that is going to collapse have the money to offer to the beggars in the queue?
For decades, the western countries, including Europe and the US, have been living in great and bountiful times. They were dining and wining in the best restaurants with the best steaks they could buy, on borrowed money and borrowed time. On the other side of the globe, the Chinese farmers and factory workers were working their guts out just to put food on the table and a roof over their heads. Anything extra, any leftovers, will be put into the kitty.
The Chinese were not rich, but they did not over spend. They saved every cent possible for the rainy day. The West was a different story. There was no rainy day. The rain will never come, only good times. They forgot that their good times are borrowed times on borrowed money. There will be no more colonies to feed their extravagant life styles.
The day of reckoning is here. Those who were prudent, thrifty and spent within their means would have lesser to worry than those who flaunted their wealth and consumed more than they could afford to. And while their sprawling straw houses are burning, they are wishing that the little mud houses will go down as well.
Of course some knew their houses are burning. They are being burnt and needed help. Some still don’t think so and wishing and willing others will be burnt down so that they can clap and say, I told you so.
Some will put the blame on the Chinese peasants for saving too much and spending too little. The financial crisis is the fault of the Chinese. And when the Americans went to the Chinese with hands stretching, the Chinese obliged to help stabilise the world financial crisis and saved the day for the Americans. The Europeans are following the Americans to Beijing, with hands outstretched. Some corners were slyly suggesting that the Chinese were doing it not for altruistic reasons. Some, like the great thinkers and journalists here will be asking the Chinese of their intent, as if the Chinese were harbouring some unspeakable sinister motive for giving out their money.
No, they would not question the altruism of the Western empires, of the Americans, when they handed out aids to the developing countries. No strings attached. And when they invaded countries and did regime changes, they were done with good motives, all altruistic.
The Chinese, uncouth, loud and rude, and a big bully, should better understand that whatever they do, the Western world will never see them in any good light. Not even from the elite here who are supposedly to know them better because of proximity and some similarity in culture and roots.
The bottom line is that the Singaporean Chinese would even despise the Chinese and would not trust anything they do. So it is only natural that the West will never trust or like the uncouth and uncivilised Chinese. My recommendation is that if they do, they will be damned, if they don’t, they too will be damned. It is best to keep their money at home to help themselves. Let the uncouth peasants eat better and live better. No need to pretend to be nice, to hand out their money to the countries in financial trouble.
With the rich Europeans in their luxurious limousines at the doorsteps of the poor farmers and factory workers asking for a little donation, from their kitties hidden under their wooden beds, should the Chinese shoo them away?
For decades, the western countries, including Europe and the US, have been living in great and bountiful times. They were dining and wining in the best restaurants with the best steaks they could buy, on borrowed money and borrowed time. On the other side of the globe, the Chinese farmers and factory workers were working their guts out just to put food on the table and a roof over their heads. Anything extra, any leftovers, will be put into the kitty.
The Chinese were not rich, but they did not over spend. They saved every cent possible for the rainy day. The West was a different story. There was no rainy day. The rain will never come, only good times. They forgot that their good times are borrowed times on borrowed money. There will be no more colonies to feed their extravagant life styles.
The day of reckoning is here. Those who were prudent, thrifty and spent within their means would have lesser to worry than those who flaunted their wealth and consumed more than they could afford to. And while their sprawling straw houses are burning, they are wishing that the little mud houses will go down as well.
Of course some knew their houses are burning. They are being burnt and needed help. Some still don’t think so and wishing and willing others will be burnt down so that they can clap and say, I told you so.
Some will put the blame on the Chinese peasants for saving too much and spending too little. The financial crisis is the fault of the Chinese. And when the Americans went to the Chinese with hands stretching, the Chinese obliged to help stabilise the world financial crisis and saved the day for the Americans. The Europeans are following the Americans to Beijing, with hands outstretched. Some corners were slyly suggesting that the Chinese were doing it not for altruistic reasons. Some, like the great thinkers and journalists here will be asking the Chinese of their intent, as if the Chinese were harbouring some unspeakable sinister motive for giving out their money.
No, they would not question the altruism of the Western empires, of the Americans, when they handed out aids to the developing countries. No strings attached. And when they invaded countries and did regime changes, they were done with good motives, all altruistic.
The Chinese, uncouth, loud and rude, and a big bully, should better understand that whatever they do, the Western world will never see them in any good light. Not even from the elite here who are supposedly to know them better because of proximity and some similarity in culture and roots.
The bottom line is that the Singaporean Chinese would even despise the Chinese and would not trust anything they do. So it is only natural that the West will never trust or like the uncouth and uncivilised Chinese. My recommendation is that if they do, they will be damned, if they don’t, they too will be damned. It is best to keep their money at home to help themselves. Let the uncouth peasants eat better and live better. No need to pretend to be nice, to hand out their money to the countries in financial trouble.
With the rich Europeans in their luxurious limousines at the doorsteps of the poor farmers and factory workers asking for a little donation, from their kitties hidden under their wooden beds, should the Chinese shoo them away?
9/30/2011
Must Chinese Sporeans support China’s rise?
This is the heading of an article by William Choong, a senior writer of ST and published in today’s ST. The gist of his article is that he got screwed by other Chinese for questioning the rise of China and China’s assertiveness as an emerging power. Some even questioned his roots, whether he is a Chinese or perhaps an ang moh or something else.
He claimed that as a journalist, and a Singaporean, it would be foolish to let his race shaped his assessment of global trends. He even quoted LKY’s defence of American presence in the region to balance the rise of China’s military power.
I agree that one should not allow one’s racial origin to colour one’s objectivity. And one should be thinking of one’s national interest and take a position on that ground. But it is altogether a silly thing to take a position without knowing why, without knowing that one is not being objective but trying to impress others as being objective.
The very title of his article is biased and not objective. It is not a matter of supporting China’s rise but a matter of supporting right against wrong, against injustice and inequality. Is China’s rise leading to China bullying the weaker nations, committing aggression and invasion against weak nations, or is China’s rise just a natural and neutral phenomenon of the growing economic and military prowess of a nation? What is wrong if a nation, any nation, becomes strong and powerful? Even with China’s new stature, little silly Asean nations have been arresting Chinese fishermen and threatening to go to war with China. What would it be if China is still a weakling nation? Would that be better?
Likewise, the silly statement that we need the US to balance the rise of China is as good as wisdom from a joker. Why is it that no one ever asked for a stronger country to balance the military might of the US all these years? Why isn’t China’s rise seen as a balance against the US presence and world domination? I am sure the Arab and Muslim world would beg for a stronger country, be it China or anyone else, to stop the oppressive and hegemonic American presence in the Middle East.
Or is it because the American world domination for too long has got stuck in his head, that this is the only normal? Any new power challenging this normal is unacceptable?
I half agree with LKY’s statement that it is Singapore’s national interest that there should be a balance of power in the Pacific. Now what kind of balance of power is he talking about? A mighty America unchallenged and can do what it wants against any nation, conducting espionage and military war games at other nation’s front yard, conducting aerial spying missions against weaker nations at will? Conducting regime change? Or a more balance of power between the Americans and the Chinese when both side would not dare to push the other around at will, like I can slam you and you cannot slam me back?
It is not an issue of supporting or not supporting China’s rise just because one is a Chinese. It is silly to just question and try to discredit China like the West because the West is doing it and saying the same thing. What the West is saying and doing is for their own interests.
Whatever, a Chinese is a bloody Chinese by any name, a Singaporean or an American Chinese, or if you call yourself Ah Choong or William. When China was a beggar of nations, any Chinese will be known as a useless Chink wherever he went, and be spitted upon, even physically abused, not only by the Westerners, but also by the colonized Asians. Pai Hua was common in Southeast Asia. Today, it is not so easy anymore, because there is a strong China. It would be nice if William Choong could be able to ask his grandpa or great grandpa what it was like to be a Chinese when China was the sick man of Asia.
Today, any bloody Chinese of whatever nationality takes it as a natural right that he is somehow seen as nearly equal, and treated slightly better by the Westerners, for granted. Just imagine how he will be treated if China is still the sick man of Asia? Will the Westerners take a bloody Singaporean Chinese with a name like William Choong seriously? Or will they be laughing their guts out at the thought of him and his great articles in questioning China’s intention as a new military power behind his inscrutable face?
Mind you, for many decades, the Chinese all looked alike to the Westerners, no personality, no character, no talent, poor, good only to be cooks and laundry men and inscrutable, with little slit eyes. Yes, they all looked alike, can't distinguish one from another. Sounds familiar?
The rise of China and its progress in all fields have made the Westerners to look at Chinese as a people, from a new angle. William Choong should thank the bloody Commie Chinese for the added respect and standing he is getting from the Westerners and the former colonized people of the world. The Indonesians and Malaysians would not be so ready to pai hua. The Aussies would not bang into him in the streets that often.
There is no need to support the rise of China just because you are Chinese. But you get some additional intangible benefits from it indirectly. Maybe I am wrong. The Westerners will respect me more and see me up if China is still a weak pariah state with its people living in poverty, without ideas and talents. Or maybe I should question China like the West and they will respect me more for seeing the world in their coloured lens, like a Westerner?
He claimed that as a journalist, and a Singaporean, it would be foolish to let his race shaped his assessment of global trends. He even quoted LKY’s defence of American presence in the region to balance the rise of China’s military power.
I agree that one should not allow one’s racial origin to colour one’s objectivity. And one should be thinking of one’s national interest and take a position on that ground. But it is altogether a silly thing to take a position without knowing why, without knowing that one is not being objective but trying to impress others as being objective.
The very title of his article is biased and not objective. It is not a matter of supporting China’s rise but a matter of supporting right against wrong, against injustice and inequality. Is China’s rise leading to China bullying the weaker nations, committing aggression and invasion against weak nations, or is China’s rise just a natural and neutral phenomenon of the growing economic and military prowess of a nation? What is wrong if a nation, any nation, becomes strong and powerful? Even with China’s new stature, little silly Asean nations have been arresting Chinese fishermen and threatening to go to war with China. What would it be if China is still a weakling nation? Would that be better?
Likewise, the silly statement that we need the US to balance the rise of China is as good as wisdom from a joker. Why is it that no one ever asked for a stronger country to balance the military might of the US all these years? Why isn’t China’s rise seen as a balance against the US presence and world domination? I am sure the Arab and Muslim world would beg for a stronger country, be it China or anyone else, to stop the oppressive and hegemonic American presence in the Middle East.
Or is it because the American world domination for too long has got stuck in his head, that this is the only normal? Any new power challenging this normal is unacceptable?
I half agree with LKY’s statement that it is Singapore’s national interest that there should be a balance of power in the Pacific. Now what kind of balance of power is he talking about? A mighty America unchallenged and can do what it wants against any nation, conducting espionage and military war games at other nation’s front yard, conducting aerial spying missions against weaker nations at will? Conducting regime change? Or a more balance of power between the Americans and the Chinese when both side would not dare to push the other around at will, like I can slam you and you cannot slam me back?
It is not an issue of supporting or not supporting China’s rise just because one is a Chinese. It is silly to just question and try to discredit China like the West because the West is doing it and saying the same thing. What the West is saying and doing is for their own interests.
Whatever, a Chinese is a bloody Chinese by any name, a Singaporean or an American Chinese, or if you call yourself Ah Choong or William. When China was a beggar of nations, any Chinese will be known as a useless Chink wherever he went, and be spitted upon, even physically abused, not only by the Westerners, but also by the colonized Asians. Pai Hua was common in Southeast Asia. Today, it is not so easy anymore, because there is a strong China. It would be nice if William Choong could be able to ask his grandpa or great grandpa what it was like to be a Chinese when China was the sick man of Asia.
Today, any bloody Chinese of whatever nationality takes it as a natural right that he is somehow seen as nearly equal, and treated slightly better by the Westerners, for granted. Just imagine how he will be treated if China is still the sick man of Asia? Will the Westerners take a bloody Singaporean Chinese with a name like William Choong seriously? Or will they be laughing their guts out at the thought of him and his great articles in questioning China’s intention as a new military power behind his inscrutable face?
Mind you, for many decades, the Chinese all looked alike to the Westerners, no personality, no character, no talent, poor, good only to be cooks and laundry men and inscrutable, with little slit eyes. Yes, they all looked alike, can't distinguish one from another. Sounds familiar?
The rise of China and its progress in all fields have made the Westerners to look at Chinese as a people, from a new angle. William Choong should thank the bloody Commie Chinese for the added respect and standing he is getting from the Westerners and the former colonized people of the world. The Indonesians and Malaysians would not be so ready to pai hua. The Aussies would not bang into him in the streets that often.
There is no need to support the rise of China just because you are Chinese. But you get some additional intangible benefits from it indirectly. Maybe I am wrong. The Westerners will respect me more and see me up if China is still a weak pariah state with its people living in poverty, without ideas and talents. Or maybe I should question China like the West and they will respect me more for seeing the world in their coloured lens, like a Westerner?
Forgetting the asshole
Today I try, or pretend, to be an elite and think or reason like an elite. This is an important exercise as the elite are the thinkers, agenda setters and decision makers, and will decide the type of life we will lead. And presumably the elite are smart asses and will not think silly or act silly, or short change the people.
A plate of chicken rice is now $10 in some places. And if the price is not controlled or brought down, it will keep spiraling as every seller will think that this is the new normal. All they need to do is to shout that the price is affordable and soon the people will believe so. So the asshole who started the $10 chicken rice is going to reap all the profits he desired and get away with it. Is there a problem with rising prices of chicken rice?
An elite may suggest, since the price is $10 or 3 times the normal price, it will be cheaper and reasonable to divide it up and eat it in three meals. That will make the chicken rice cheaper won’t it?
Another may suggest, reduce the quantity into half and sell it at $5. Or for small eaters, reduce the quantity to a third and sell it at $3. See, the price of chicken rice is now affordable, like before.
There could be more brilliant and cleverer suggestions from the elite thinkers. And they will keep on doing it, cracking their brilliant minds to solve the high chicken price problem.
And none will want to ask, or to know, how the chicken price got to become $10 in the first place, and whether it is justifiable. They have totally forgotten about the asshole that started it. They have accepted the new normal, that a plate of chicken rice should be $10.
Where is Khaw Boon Wan? Has he resolved the high HDB price problem?
A plate of chicken rice is now $10 in some places. And if the price is not controlled or brought down, it will keep spiraling as every seller will think that this is the new normal. All they need to do is to shout that the price is affordable and soon the people will believe so. So the asshole who started the $10 chicken rice is going to reap all the profits he desired and get away with it. Is there a problem with rising prices of chicken rice?
An elite may suggest, since the price is $10 or 3 times the normal price, it will be cheaper and reasonable to divide it up and eat it in three meals. That will make the chicken rice cheaper won’t it?
Another may suggest, reduce the quantity into half and sell it at $5. Or for small eaters, reduce the quantity to a third and sell it at $3. See, the price of chicken rice is now affordable, like before.
There could be more brilliant and cleverer suggestions from the elite thinkers. And they will keep on doing it, cracking their brilliant minds to solve the high chicken price problem.
And none will want to ask, or to know, how the chicken price got to become $10 in the first place, and whether it is justifiable. They have totally forgotten about the asshole that started it. They have accepted the new normal, that a plate of chicken rice should be $10.
Where is Khaw Boon Wan? Has he resolved the high HDB price problem?
Designing a bank run!
The most feared situation in any financial system is a run on the banks. Banks are exceptionally sensitive and careful in taking in big deposits for fear of such an incident. Big money is good, everyone wants to have a bite of the cherry. But knowing banks, and the danger of big money, they will take all precautions to spread the risk. They will not put themselves in such a precarious situation to facilitate a run on the bank. No banks, however big or rock solid, can withstand a run, as they generally lend out more than they have. There is always not enough cash to feed a run.
The govt and banking authority will not allow such a situation to develop. Allowing it is criminal negligence, as it will lead to the collapse of a country’s financial system and the country itself.
The beauty of it all is that while the govt and banking authority are guarding the front door with triple layers of barb wires, they have left the back door wide open without knowing it, and thinking that all is safe.
Greed is good, but greed is also dangerous. The world is flooded with liquidity. And liquidity can flow anywhere anytime with the high speed and high tech communication and information system. Big funds, private and sovereign funds, are caretakers of big money which they can wield and move around with the flick of a few fingers.
When the funds flow in concert, it is worst than a tsunami. When the cash flows in, everyone opens his arms widely to welcome them. The danger of the cash going out at double quick time can wipe out everything along the way.
Big funds, high speed machines, deregulations, allow money to move in and out of a stock market at will. Many stock markets have experienced the destructiveness of funds moving in and out, sometimes for a few hours or a few days. The full impact of the funds clearing their holdings in concert and getting out of a stock market is as good as a run on the banks. All they need to do is a big sell down.
Not possible? The way the stockmarkets are gearing themselves for the big funds to play havoc to their stocks is extremely idiotic. They have done everything possible to allow it to happen. No need to ask me how. It is only waiting to happen. Even the temporary trading halt on limit down can only be for a moment. When the dam is broken, the trading halt cannot save the destruction. It will be too little too late.
There is no need to run on the banks. Just run on the stockmarket is equally destructive and damaging. The big funds with their big cash hoards and high speed machine are ready to do what they are capable of. It is only a matter of when. Are there enough safeguards to prevent it from happening, or allowing it to happen up to a certain level, that is just as serious in consequences?
Below is a REUTER article dated 29 Aug 2011
Beat high-frequency trading machines by not playing their game
The days of you trying to make a buck actively trading in the stock market are over.
Individuals don’t stand a chance anymore because they are largely competing against rational machines often guided by herd-like irrational forces. The robots can rule in the blink of an eye….
I knew it was over for human traders when I heard that high-frequency trading firms were hooking up their data lines directly to exchange computers to gain an extra hundredth of a second in execution time.
High-speed programs are designed to move millions of shares in a fraction of a second to take advantage of small movements in securities prices….
There’s no way to beat the machines, unless of course, you have a faster machine, better programs or the ability to predict the future. Your odds are better in Vegas, which never had great odds for a palooka pulling a one-armed bandit….
Some 60 percent of the volume of the New York Stock Exchange is attributed to high-speed trading, maybe more.
Although many market observers blamed machine traders for a flash crash last year, regulators have done little to slow down these speed demons....
That’s why will see even more flash crashes and huge price swings called “mini-flash crashes.”…
Don’t even try to time the purchase of your stocks, because Washington will do nothing to protect you against huge market swings.
Wall Street is spreading plenty of money around in lobbying efforts to make sure that their trading desks don’t get regulated in any meaningful way. Sated with financial services industry contributions, House Republicans have already spent most of the year trying to kill Dodd-Frank financial reforms, so high-speed trading isn’t even near the top of their agenda.
So my advice couldn’t be more succinct. The best way to beat the machines is pretty simple: Don’t even play them. Game over.
The govt and banking authority will not allow such a situation to develop. Allowing it is criminal negligence, as it will lead to the collapse of a country’s financial system and the country itself.
The beauty of it all is that while the govt and banking authority are guarding the front door with triple layers of barb wires, they have left the back door wide open without knowing it, and thinking that all is safe.
Greed is good, but greed is also dangerous. The world is flooded with liquidity. And liquidity can flow anywhere anytime with the high speed and high tech communication and information system. Big funds, private and sovereign funds, are caretakers of big money which they can wield and move around with the flick of a few fingers.
When the funds flow in concert, it is worst than a tsunami. When the cash flows in, everyone opens his arms widely to welcome them. The danger of the cash going out at double quick time can wipe out everything along the way.
Big funds, high speed machines, deregulations, allow money to move in and out of a stock market at will. Many stock markets have experienced the destructiveness of funds moving in and out, sometimes for a few hours or a few days. The full impact of the funds clearing their holdings in concert and getting out of a stock market is as good as a run on the banks. All they need to do is a big sell down.
Not possible? The way the stockmarkets are gearing themselves for the big funds to play havoc to their stocks is extremely idiotic. They have done everything possible to allow it to happen. No need to ask me how. It is only waiting to happen. Even the temporary trading halt on limit down can only be for a moment. When the dam is broken, the trading halt cannot save the destruction. It will be too little too late.
There is no need to run on the banks. Just run on the stockmarket is equally destructive and damaging. The big funds with their big cash hoards and high speed machine are ready to do what they are capable of. It is only a matter of when. Are there enough safeguards to prevent it from happening, or allowing it to happen up to a certain level, that is just as serious in consequences?
Below is a REUTER article dated 29 Aug 2011
Beat high-frequency trading machines by not playing their game
The days of you trying to make a buck actively trading in the stock market are over.
Individuals don’t stand a chance anymore because they are largely competing against rational machines often guided by herd-like irrational forces. The robots can rule in the blink of an eye….
I knew it was over for human traders when I heard that high-frequency trading firms were hooking up their data lines directly to exchange computers to gain an extra hundredth of a second in execution time.
High-speed programs are designed to move millions of shares in a fraction of a second to take advantage of small movements in securities prices….
There’s no way to beat the machines, unless of course, you have a faster machine, better programs or the ability to predict the future. Your odds are better in Vegas, which never had great odds for a palooka pulling a one-armed bandit….
Some 60 percent of the volume of the New York Stock Exchange is attributed to high-speed trading, maybe more.
Although many market observers blamed machine traders for a flash crash last year, regulators have done little to slow down these speed demons....
That’s why will see even more flash crashes and huge price swings called “mini-flash crashes.”…
Don’t even try to time the purchase of your stocks, because Washington will do nothing to protect you against huge market swings.
Wall Street is spreading plenty of money around in lobbying efforts to make sure that their trading desks don’t get regulated in any meaningful way. Sated with financial services industry contributions, House Republicans have already spent most of the year trying to kill Dodd-Frank financial reforms, so high-speed trading isn’t even near the top of their agenda.
So my advice couldn’t be more succinct. The best way to beat the machines is pretty simple: Don’t even play them. Game over.
9/29/2011
$500,000 a week’s pay!
Being paid $400k or $500k a week just to play football is common in the British football league or the European league. That is a cool $2m a month or $24m a year, excluding bonuses. Where else can one find such a well paying job and so dignified, with fans screaming everywhere just to see them?
Carlos Tevez is one of the fortunate super football talents to be paid this kind of salary in Manchester City. This is the sister club to Manchester United that will probably reappear anytime for a listing in our stock exchange. And Manchester United, being a better club, with betterer talents, is likely to pay their star players much more, or not worst than Carlos Tevez’s $500k a week pay.
When Manchester United finally got to be listed here, Singaporeans will have the privilege to be associated with this great football club, and also the privilege to be their paymaster, paying each of the star footballer millions every month. Singaporeans should be happy to do that, as paying huge obscene salary is a normal practice here. They are used to it. It will cost them an additional plate of char kway teow at most.
The most important thing is that they are happy paying. It is value for money, every cent of it. Now, why are the parents craving for their children to be in the best school and to get a degree when they could have fun kicking a ball and not being stressed up in our hot house schools, and getting paid several times more than our President?
Carlos Tevez is one of the fortunate super football talents to be paid this kind of salary in Manchester City. This is the sister club to Manchester United that will probably reappear anytime for a listing in our stock exchange. And Manchester United, being a better club, with betterer talents, is likely to pay their star players much more, or not worst than Carlos Tevez’s $500k a week pay.
When Manchester United finally got to be listed here, Singaporeans will have the privilege to be associated with this great football club, and also the privilege to be their paymaster, paying each of the star footballer millions every month. Singaporeans should be happy to do that, as paying huge obscene salary is a normal practice here. They are used to it. It will cost them an additional plate of char kway teow at most.
The most important thing is that they are happy paying. It is value for money, every cent of it. Now, why are the parents craving for their children to be in the best school and to get a degree when they could have fun kicking a ball and not being stressed up in our hot house schools, and getting paid several times more than our President?
The more scary and horrifying part of Halloween Horror
I am in the mood to tell a story that happened many eons ago. Singapore was a young and dynamic state, with an equally young and robust PM. It was an era when mistakes were not tolerated, not even a misplaced comma or a full stop. It could ruin the career of a civil servant for not minding his comma or full stop. Yeah, can be quite unforgiving. But that was the standard of the day.
The PM went golfing on a Sunday morning in Tanah Merah. He drove his tee shot into the centre of the fairway. The sound of a plane roared as it approached for landing. The PM looked up, trying to take a look at the spectacular sight of a Boeing 707 with wheels hanging down. Oops, no luck, view blocked by the casuarina trees. ‘The trees are a bit too high. Otherwise the view would be excellent.’ Said the PM as he went on for his second shot.
The next Sunday he was at the same hole and drove the same ball into the fairway. There was a gust of wind and the ball swerved into OB. A bit annoyed, he looked up. ‘Where are the trees?’ Apparently someone took his comment very seriously, and the trees were cut to waist height, contributing to a more gusty course.
It was an old story and no one will ascertain if it is a true story. The morale of the story is that people at high places should be careful with their words. People react irrationally, taken every word, comma and full stop very seriously too. Some may even over react, for good or bad reasons, for their rice bowl, fear, or to angkat, to please the lord.
And many people suffered as a result. Resources, time, energy and even money were spent that needed not be. How many workers were involved in cutting down the trees? How much was paid to the contractor. The saddest part, the trees suffered a tragic fate all because of an innocent statement. But who cares for the trees anyway?
In the Halloween Horror case, the victims are the poor students, full of enthusiasm, doing their best to score an A for their projects. It would go into their CVs as a shining star when the time comes for sending out job application letters. It probably came to nought. How many people were involved and supported the project and the students, guiding and encouraging them in this endeavour? The lecturers, the principal, the staff of WRS, their friends and relatives, the customers who were willing to pay for the show, never see anything wrong with the event. They were all rebuffed.
How many people’s negative comments were needed to cancel such a project?
What can be worst, not happening yet, and I hope not, will be an asshole to fail the students. The reasoning, the students should know that WRS is a family oriented organization, for wholesome family activities. Choosing something like Halloween Horror and holding it as a WRS event is simply poor understanding, planning and foresight. The students failed to think through the project carefully and thus ended with an abandoned project.
I am just speculating. But knowing the ethos of the day, scoring points, trying to read the minds of those that matters, and taking a stand to please the ‘boss’, angkat angkat a bit, and you can have hell for the students. And don’t expect the devil to protect the students as god is more powderful.
Has the Halloween Horror story seen its final chapter?
The PM went golfing on a Sunday morning in Tanah Merah. He drove his tee shot into the centre of the fairway. The sound of a plane roared as it approached for landing. The PM looked up, trying to take a look at the spectacular sight of a Boeing 707 with wheels hanging down. Oops, no luck, view blocked by the casuarina trees. ‘The trees are a bit too high. Otherwise the view would be excellent.’ Said the PM as he went on for his second shot.
The next Sunday he was at the same hole and drove the same ball into the fairway. There was a gust of wind and the ball swerved into OB. A bit annoyed, he looked up. ‘Where are the trees?’ Apparently someone took his comment very seriously, and the trees were cut to waist height, contributing to a more gusty course.
It was an old story and no one will ascertain if it is a true story. The morale of the story is that people at high places should be careful with their words. People react irrationally, taken every word, comma and full stop very seriously too. Some may even over react, for good or bad reasons, for their rice bowl, fear, or to angkat, to please the lord.
And many people suffered as a result. Resources, time, energy and even money were spent that needed not be. How many workers were involved in cutting down the trees? How much was paid to the contractor. The saddest part, the trees suffered a tragic fate all because of an innocent statement. But who cares for the trees anyway?
In the Halloween Horror case, the victims are the poor students, full of enthusiasm, doing their best to score an A for their projects. It would go into their CVs as a shining star when the time comes for sending out job application letters. It probably came to nought. How many people were involved and supported the project and the students, guiding and encouraging them in this endeavour? The lecturers, the principal, the staff of WRS, their friends and relatives, the customers who were willing to pay for the show, never see anything wrong with the event. They were all rebuffed.
How many people’s negative comments were needed to cancel such a project?
What can be worst, not happening yet, and I hope not, will be an asshole to fail the students. The reasoning, the students should know that WRS is a family oriented organization, for wholesome family activities. Choosing something like Halloween Horror and holding it as a WRS event is simply poor understanding, planning and foresight. The students failed to think through the project carefully and thus ended with an abandoned project.
I am just speculating. But knowing the ethos of the day, scoring points, trying to read the minds of those that matters, and taking a stand to please the ‘boss’, angkat angkat a bit, and you can have hell for the students. And don’t expect the devil to protect the students as god is more powderful.
Has the Halloween Horror story seen its final chapter?
More land needed for private developers
Those who think that the private developers are worried that their properties will not be sold or property prices will fall will be disappointed. Boon Wan would have to release more land for the private property developers to build more private properties for sale. While the locals are complaining about outrageous property prices, the millionaires in China, India, Indonesia and overseas are finding the properties here a bargain.
And it was reported China alone has at least one million millionaires and all wanting to invest in properties. The property developers are laying down the red carpet to invite these new rich to buy properties here. And the take up rate is very high. All the big developers like Far East and Capitaland are in China luring the investors with perks, free air tickets and seafood dinners, all to buy properties here.
If the one million Chinese millionaires were to buy one unit each, that will be one million units short. To be more realistic, if ten per cent of the millionaires were to buy, that is already a cool 100k units. Nothing left and not enough to go round. Then the Indians, Indonesians and Westerners, we need to reclaim more land and islands to build properties.
Alternatively Singaporeans can start to sell out their million dollar properties and move off to JB, Batam and Bintang. One thing for sure, property prices will keep going up. Singapore is going to experience another bigger property boom, and there will be prosperity all round. The more properties one owns, the richer one will become.
Happy days are back again! The long queues in new launches will be back. Banks will be able to offer more attractive mortgages packages. The craze will be on and property speculators will be laughing all the way to the banks.
And it was reported China alone has at least one million millionaires and all wanting to invest in properties. The property developers are laying down the red carpet to invite these new rich to buy properties here. And the take up rate is very high. All the big developers like Far East and Capitaland are in China luring the investors with perks, free air tickets and seafood dinners, all to buy properties here.
If the one million Chinese millionaires were to buy one unit each, that will be one million units short. To be more realistic, if ten per cent of the millionaires were to buy, that is already a cool 100k units. Nothing left and not enough to go round. Then the Indians, Indonesians and Westerners, we need to reclaim more land and islands to build properties.
Alternatively Singaporeans can start to sell out their million dollar properties and move off to JB, Batam and Bintang. One thing for sure, property prices will keep going up. Singapore is going to experience another bigger property boom, and there will be prosperity all round. The more properties one owns, the richer one will become.
Happy days are back again! The long queues in new launches will be back. Banks will be able to offer more attractive mortgages packages. The craze will be on and property speculators will be laughing all the way to the banks.
9/28/2011
False CVs on the rise in Asia
By Dolly Chia
MORE job applicants are lying about their employment history, with those in the IT as well as banking and financial services among the biggest culprits.
According to First Advantage, a provider of employment screening solutions, the proportion of employees misrepresenting their qualifications on their resume in Asia-Pacific rose to 4.4 per cent this year from 3.2 per cent last year....Reported in a local media.
What do the 4.4 percentage points mean? It means that if we have 100,000 Employment Pass holders, 4,400 of them have false CVs. If the number is 300,000, probably the size of our EP, just my guesstimate, the number of false CVs working and living with us is a staggering 13,200. And it could be much more as many are still undetected.
What is unacceptable, not that they are laughing at our stupidity, is that these jobs could have gone to our pressure cooking products of our world best education system. Unfortunately they have been replaced by fakes.
The problem is serious and the govt needs to set up a body to investigate the CVs of all foreign talents coming in. We don’t want to have CEOs who attended a 2 week course in Harvard to claim to be a Harvard alumni. We don’t want a fake to be ordering our local talents around and being paid more for doing it. We don’t want a fake to be managing our local talents and depriving them of that job. We don’t want fakes to take our naivity and innocence for granted.
First world talents duped by third world non talents! Can you beat it?
MORE job applicants are lying about their employment history, with those in the IT as well as banking and financial services among the biggest culprits.
According to First Advantage, a provider of employment screening solutions, the proportion of employees misrepresenting their qualifications on their resume in Asia-Pacific rose to 4.4 per cent this year from 3.2 per cent last year....Reported in a local media.
What do the 4.4 percentage points mean? It means that if we have 100,000 Employment Pass holders, 4,400 of them have false CVs. If the number is 300,000, probably the size of our EP, just my guesstimate, the number of false CVs working and living with us is a staggering 13,200. And it could be much more as many are still undetected.
What is unacceptable, not that they are laughing at our stupidity, is that these jobs could have gone to our pressure cooking products of our world best education system. Unfortunately they have been replaced by fakes.
The problem is serious and the govt needs to set up a body to investigate the CVs of all foreign talents coming in. We don’t want to have CEOs who attended a 2 week course in Harvard to claim to be a Harvard alumni. We don’t want a fake to be ordering our local talents around and being paid more for doing it. We don’t want a fake to be managing our local talents and depriving them of that job. We don’t want fakes to take our naivity and innocence for granted.
First world talents duped by third world non talents! Can you beat it?
Two party system, who decides?
After the last GE, the prospect for a two party or multi party political system appears to be brighter. The invincibility of the ruling party had taken a sharp knock and is not like what it was before. It is looking very fragile and breakable. What it means is that more alternative parties could gain a foot hold in the future Parliament. The electorate are getting very uncomfortable with the political system and are showing signs of adventurism, that alternative parties could be the solution to the shit hole that many are stuck in and claimed to be the best there is.
What is telling is that the electorate should never ever flirt with the temptation of alternative parties. The ruling party will decide if the political system will evolve into a two party or multi party system. The message is distinctly clear that the outcome of what the political system will evolve is not for the people to decide.
So, how would the ruling party decide if there should be a multi party system? Simple, the new WP members in Parliament will be watched very carefully. How they perform will decide the fate of the future political system. Simply, they need to play ball with the ruling party, to win its confidence, that they are not out to destroy the party or the country.
Does it make sense? I think the message is that they must not ask funny questions that make the ruling party and the leaders look funny. Better still, try to make them look good, make them feel comfortable, then maybe more alternative party MPs will be able to get into Parliament. And they may even be invited to be grassroots advisors. If the WP’s MPs did not play ball and are contemptuous, and persist in asking embarrassing questions, then the fate of a multi party system will be sealed, be gone forever.
If this is the case, that the future of a multi party system is decided by the ruling party and not the electorate, then my advice to the WP MPs is to play ball, be nice. Then maybe in 2016, more alternative MPs will be allowed into Parliament.
What is telling is that the electorate should never ever flirt with the temptation of alternative parties. The ruling party will decide if the political system will evolve into a two party or multi party system. The message is distinctly clear that the outcome of what the political system will evolve is not for the people to decide.
So, how would the ruling party decide if there should be a multi party system? Simple, the new WP members in Parliament will be watched very carefully. How they perform will decide the fate of the future political system. Simply, they need to play ball with the ruling party, to win its confidence, that they are not out to destroy the party or the country.
Does it make sense? I think the message is that they must not ask funny questions that make the ruling party and the leaders look funny. Better still, try to make them look good, make them feel comfortable, then maybe more alternative party MPs will be able to get into Parliament. And they may even be invited to be grassroots advisors. If the WP’s MPs did not play ball and are contemptuous, and persist in asking embarrassing questions, then the fate of a multi party system will be sealed, be gone forever.
If this is the case, that the future of a multi party system is decided by the ruling party and not the electorate, then my advice to the WP MPs is to play ball, be nice. Then maybe in 2016, more alternative MPs will be allowed into Parliament.
9/27/2011
Poll on the Elected Presidency
The rice is cooked, we have a new Elected President in the Istana. And he is still getting his millions as salary. All the controversies raised during the election for the new EP were somehow forgotten, as usual. The heat is gone. This is very typical of Singaporeans when the pain is not enough. They only kpkb for the moment and then resigned to the fait accompli.
We just conducted a poll and 40% of the respondents wanted the EP to be abolished. Another 40% didn’t mind having the office of the Presidency but wanted a ceremonial one that does not come with the outrageous multi million dollar salary.
This is the feedback of the people who bothered to take a stand. Would the govt take this feedback seriously and cancel the EP office, replace it with a ceremonial one? The sample size of the poll may be small, but I think it is quite representative of the views of the population. The govt may want to conduct a bigger poll to get a confirmation that this is what the people want and not what the govt wants for the Presidency.
This is feedback too.
We just conducted a poll and 40% of the respondents wanted the EP to be abolished. Another 40% didn’t mind having the office of the Presidency but wanted a ceremonial one that does not come with the outrageous multi million dollar salary.
This is the feedback of the people who bothered to take a stand. Would the govt take this feedback seriously and cancel the EP office, replace it with a ceremonial one? The sample size of the poll may be small, but I think it is quite representative of the views of the population. The govt may want to conduct a bigger poll to get a confirmation that this is what the people want and not what the govt wants for the Presidency.
This is feedback too.
The safest Singapore bank
I would put UOB as the safest Singapore bank for one simple reason. It is managed by the real owner. You can’t imagine the real owner selling away its family jewel. It is possible only if a prodigal son appears on the scene. Not likely at the moment.
The risk of UOB going the way of Barings or UBS is much lesser. There is ownership. In the case of banks managed by professional managers, you would not know when they will strike a deal or did a Nick Leeson and the bank will be gone.
In today’s world, where integrity and trustworthiness can be bought by money, it is always the price to pay. The old virtues of righteousness, honesty, loyalty and yes, integrity and trustworthiness, are good to have ideals. Not meant to be taken seriously by those who are too smart. When they are too smart, the only interest is their own pockets.
In every commercial deal someone will be taking a cut. The bigger the deal the more attractive will be the cut. The Chairman or directors would also be in the game for the cut. When the new ethos is every man for himself, all institutions and organizations managed by clever professional managers are at risk.
When countries can be sold, what is so special about banks or sovereign funds when they are managed not by the true owners but by professional managers who owe no loyalty to the organization except to themselves? Most of the big international banks and MNCs are now in the hands of professional managers with the minority shareholders not knowing what is happening and still very trusting of the management.
What is so special about Singapore and Singapore govt owned organizations when they are managed by professional managers who owe no loyalty to the country? Who is there to guard against professional theft or adventurism when UBS too can do nothing about it?
Nothing beats the real owner sitting in management and watching his own money carefully. The day UOB goes the way of being run by professional managers, without the owners in control, I will withdraw my view that it is the safest bank.
The risk of UOB going the way of Barings or UBS is much lesser. There is ownership. In the case of banks managed by professional managers, you would not know when they will strike a deal or did a Nick Leeson and the bank will be gone.
In today’s world, where integrity and trustworthiness can be bought by money, it is always the price to pay. The old virtues of righteousness, honesty, loyalty and yes, integrity and trustworthiness, are good to have ideals. Not meant to be taken seriously by those who are too smart. When they are too smart, the only interest is their own pockets.
In every commercial deal someone will be taking a cut. The bigger the deal the more attractive will be the cut. The Chairman or directors would also be in the game for the cut. When the new ethos is every man for himself, all institutions and organizations managed by clever professional managers are at risk.
When countries can be sold, what is so special about banks or sovereign funds when they are managed not by the true owners but by professional managers who owe no loyalty to the organization except to themselves? Most of the big international banks and MNCs are now in the hands of professional managers with the minority shareholders not knowing what is happening and still very trusting of the management.
What is so special about Singapore and Singapore govt owned organizations when they are managed by professional managers who owe no loyalty to the country? Who is there to guard against professional theft or adventurism when UBS too can do nothing about it?
Nothing beats the real owner sitting in management and watching his own money carefully. The day UOB goes the way of being run by professional managers, without the owners in control, I will withdraw my view that it is the safest bank.
Milestones of Communism
In 1978, Deng Xiao Ping visited Singapore and started an economic reform in the vein of capitalism. White cat black cat never mind as long as it catches mice. 1978 possibly marked the end of Communism except in name in China. In 1981, Deng Xiao Ping also ordered the closure of the Malayan Revolutionary Radio broadcasting to Malaysia and Singapore.
Govt to govt relationship between Singapore and China was on the mend and improving by leaps and bounds. Communism was as good as dead as an alternative govt or for exporting revolution by the 1980s when Gorbache’s glasnost and petroiska led to the break up of the Soviet Union.
This is not true in Singapore as a small group of young men and women were plotting a Marxist revolution by infiltrating into the Catholic Church. Obviously they could not be gaining any support from China as Deng Xiao Ping would not allow it or his relationship with LKY would be over. Could this Marxist Group be supported by the Russians or the Communist Party of Malaya(CPM)? With Gorbachev in charge, Russia was in a different kind of revolution, opening up to the West. The CPM was dormant since the silencing of its radio broadcast. In 1989 they signed a peace accord with Malaysia and officially ended their fight for Communism and a Malayan state.
The Marxist Group in Singapore was arrested in 1987 under Operation Spectrum for plotting to overturn the govt by force. Their existence was proof that there must be another revolutionary organization supporting the Marxist movement. They could not be supported by China or Russia or the CPM. Unfortunately, after Operation Spectrum there was no further news of the organization that was behind this Marxist Group for armed revolution in Singapore. It must have gone into hiding. As long as they are not flushed out, the danger is still there.
The 16 arrested could not be a meaningful force to take down the govt on their own or by a revolution. Not by any imagination. They didn’t look that able against an efficient ruling govt and a well equipped armed force. My theory is that they were not supported by the Communist giants but a more powerful force. Who and where is this force that is behind them? They are called Marxists, not Communists, for Communism’s platform of violent overthrow of govts was long a spent force. By the late 1980s, who cared about Communism? Perhaps the origin of this force could be from the dark side.
Govt to govt relationship between Singapore and China was on the mend and improving by leaps and bounds. Communism was as good as dead as an alternative govt or for exporting revolution by the 1980s when Gorbache’s glasnost and petroiska led to the break up of the Soviet Union.
This is not true in Singapore as a small group of young men and women were plotting a Marxist revolution by infiltrating into the Catholic Church. Obviously they could not be gaining any support from China as Deng Xiao Ping would not allow it or his relationship with LKY would be over. Could this Marxist Group be supported by the Russians or the Communist Party of Malaya(CPM)? With Gorbachev in charge, Russia was in a different kind of revolution, opening up to the West. The CPM was dormant since the silencing of its radio broadcast. In 1989 they signed a peace accord with Malaysia and officially ended their fight for Communism and a Malayan state.
The Marxist Group in Singapore was arrested in 1987 under Operation Spectrum for plotting to overturn the govt by force. Their existence was proof that there must be another revolutionary organization supporting the Marxist movement. They could not be supported by China or Russia or the CPM. Unfortunately, after Operation Spectrum there was no further news of the organization that was behind this Marxist Group for armed revolution in Singapore. It must have gone into hiding. As long as they are not flushed out, the danger is still there.
The 16 arrested could not be a meaningful force to take down the govt on their own or by a revolution. Not by any imagination. They didn’t look that able against an efficient ruling govt and a well equipped armed force. My theory is that they were not supported by the Communist giants but a more powerful force. Who and where is this force that is behind them? They are called Marxists, not Communists, for Communism’s platform of violent overthrow of govts was long a spent force. By the late 1980s, who cared about Communism? Perhaps the origin of this force could be from the dark side.
9/26/2011
The Halloween Horror that would not go away
One week after the cancellation, and the horror is still haunting everyone. The Halloween Horror is turning out to be the horror of all horror stories. Isabella Loh could have not asked for more. She is made of the same kind of steel like all Singaporean leaders, dare to make the difference, to make tough decisions that are good for the people. Halloween is bad for family values and comes at a bad time when the country is promoting wholesome family and more children. Can’t imagine the harm it will cause to children by the devils that Halloween is all about. Really frightening.
This really takes too long to happen. Commercialism and playing with the devil, both rolling into one in the Halloween Horror. It must be stopped, sooner or later. It is simply bad influence. Hurrah, finally someone has the conviction and gumption to put an end to this twin terror.
Now that the ball has started rolling, let’s look at all the events and festivities that are associated with the devil, commercialised, and unwholesome. While one is now canned, let’s canned all of them once and for all. Now where to start? The two casinos! Wait a minute, they are not casinos in the first place, and they are family oriented resorts, with many wholesome activities for the families. Just leave them alone. And there is nothing devilish in them.
What about those devil worshipping commercialised events and festivals? There must be plenty of them. Uh huh, don’t you dare! Let’s start with something safer and more manageable. No more horror movies. That should be easy. Is Harry Porter and his adventures horror movies or devil related? Difficult to say I think. What about MediaCorp programmes, there must be some that are devil related or about the devil, I am sure.
This really takes too long to happen. Commercialism and playing with the devil, both rolling into one in the Halloween Horror. It must be stopped, sooner or later. It is simply bad influence. Hurrah, finally someone has the conviction and gumption to put an end to this twin terror.
Now that the ball has started rolling, let’s look at all the events and festivities that are associated with the devil, commercialised, and unwholesome. While one is now canned, let’s canned all of them once and for all. Now where to start? The two casinos! Wait a minute, they are not casinos in the first place, and they are family oriented resorts, with many wholesome activities for the families. Just leave them alone. And there is nothing devilish in them.
What about those devil worshipping commercialised events and festivals? There must be plenty of them. Uh huh, don’t you dare! Let’s start with something safer and more manageable. No more horror movies. That should be easy. Is Harry Porter and his adventures horror movies or devil related? Difficult to say I think. What about MediaCorp programmes, there must be some that are devil related or about the devil, I am sure.
A sheepish smile
That is all I can afford when I read about big burly Caucasians beating up local girls. One girl was slammed against the bus door for talking too loudly, in the opinion of the Caucasian and annoying him. Another woman got her windscreen smashed for honking at another Caucasian man who cut into her path abruptly.
What to do? It happened. Reminds me of colonial Singapore or South Africa. The sheepish Singaporeans deserve every bit of it for worshipping foreign gods. Even the Chinese hawkers have no qualms or reservation to beat up Singaporeans in broad daylight.
Singaporeans have their jobs taken over by foreigners for their own good. Without the foreigners, they will all go hungry and their women will become maids. Better count their blessings and don’t make too much of an issue when foreigners throw them a few punches or knock the daylight out of them.
Got money, go and pay for a lawyer and take the offender to court. If no money, just shut up, or like me, smile sheepishly. It could be worst.
In the olden days, they came with their warships and killed the men, took the women and the country as theirs.
I just need to be extra careful in the presence of foreigners.
What to do? It happened. Reminds me of colonial Singapore or South Africa. The sheepish Singaporeans deserve every bit of it for worshipping foreign gods. Even the Chinese hawkers have no qualms or reservation to beat up Singaporeans in broad daylight.
Singaporeans have their jobs taken over by foreigners for their own good. Without the foreigners, they will all go hungry and their women will become maids. Better count their blessings and don’t make too much of an issue when foreigners throw them a few punches or knock the daylight out of them.
Got money, go and pay for a lawyer and take the offender to court. If no money, just shut up, or like me, smile sheepishly. It could be worst.
In the olden days, they came with their warships and killed the men, took the women and the country as theirs.
I just need to be extra careful in the presence of foreigners.
Entrepreneur flair or hare brain scheme?
Actually these two terms are two sides of a coin. When an entrepreneur succeeds, he is praised to the sky because his hare brain scheme becomes a success story. When an ambitious plan fails, it will earn the infamous status as a hare brain scheme.
A potential entrepreneur puts his resources, money and reputation at risk. He could become a winner and earns recognition, or a failure with people laughing at his hare brain attempt when it fails. It is fair game really.
Singapore’s ambitious plan to turn itself into the biggest financial centre in Asia could go either way. If it succeeds, the mastermind will gain immediate recognition as the brain behind the success. If it fails, people will be laughing at the hare brain scheme for sure.
Sometimes there is an in-between, when a plan is cleverly conceived on paper and could really succeed. But it could fail because of some other reasons, maybe poor execution or factors beyond its control. Sometimes it could be saboed, intentionally or unintentionally by others with their own hare brain schemes that destroy the main plan. There will be some that are hare brains from the word go as the assumptions are just unworkable.
Is the financial dream an ambitious and workable plan or just another hare brain scheme? The key to the success of Singapore as a financial centre lies in the creation of a sophisticated and highly capitalized stock market with a wide range of products and good quality stocks. This is not all. It cannot be as simple as that. The infrastructure, the hardware and software are easy to buy with the money. The managers too can be bought with a price. There must also be capital, provided by the big funds, and investors, big and small. And the brokerages to lubricate the system and execute the trades. Some thought there is no need for brokerages, just machines trading against machines and online tradings will do. Some even think that there is no need for small investors or traders. Just bring in the big guns with their war chests to fight among themselves and it will be flying to the moon. The big funds are not that stupid. They will play the game if they can find advantages, especially those enshrined within the system, like eating up the helpless small investors.
The horse is sick. The ambitious plan seems to be grinding to a halt. Now, what have gone wrong? Big money was spent in talents and machines, and big boys with their big guns were blazing. For a system to work, all the parts must function accordingly. The system is as strong as its weakest link.
The weakest link, in my view, is the small traders and investors. These seemingly irrelevant elements in the whole system, dispensable to the big empty heads, are just like the planktons that feed the giant whales. Without the planktons, the whales will perish. Without the little guys as cannot fodders, the big boys will go hungry.
Who and what contribute to the demise of the little useless guys? One major flaw is to make the little guys do battle with high speed machines and sophisticated computers and their algos. A mismatch, and the small guys simply got wipe out. They don’t stand a chance. There goes an important small part of the system.
The banks too think so, that the little guys are not important. They are only interested in their high net worth clients, not for trading in the stock market, but for their wealth management schemes, to invest big money in ‘sophisticated’ products and notes. And to retain these clients, they are prepared to sacrifice the small guys, lower the commission in the name of free competition. Again, the small guys paying higher commission would not stand a chance.
In order to feed the fodder to the big boys, the small guys were encouraged to play with new instruments that they have hardly any clue about while the big guys were the experts in such games. The small guys were eaten up for sure. They lack the financial muscles and the sophisticated team of staff to manipulate the range of trading instruments to their advantage.
A weak link in the whole system is all that is needed to break the system. It stops cranking without the little guys feeding the system and the pockets of the big guys. The lowest element in a food chain still needs to be fatten to sustain the whole system and those at the top of the food chain. Ignoring or despising the arse hole is proving to be a big mistake.
This ambitious plan is turning to look more like another hare brain scheme with many other hare brain schemes sticking to it to drag it down. Where are the cannon fodders? Everyone seems so happy that the planktons are wiped out. Every hare brain seems so happy that commission can be lowered further with no consideration that commission is all that feeds the broking houses and their staff to keep the system going. No commission means no broking houses.
How long can the system hold with the shit building up and nowhere to go? Nature is built on a system where every part has its part to play and feeds on one another. It is a symbiotic relationship, a cycle. It cannot be one way, where one party or a small group benefits at the expense of the other. Human beans, being at the top of the food chain, is constantly being devoured by the smallest and most insignificant bacteria to keep the system in check and going. This fundamental principle of Nature cannot be ignored by hare brain schemes.
A potential entrepreneur puts his resources, money and reputation at risk. He could become a winner and earns recognition, or a failure with people laughing at his hare brain attempt when it fails. It is fair game really.
Singapore’s ambitious plan to turn itself into the biggest financial centre in Asia could go either way. If it succeeds, the mastermind will gain immediate recognition as the brain behind the success. If it fails, people will be laughing at the hare brain scheme for sure.
Sometimes there is an in-between, when a plan is cleverly conceived on paper and could really succeed. But it could fail because of some other reasons, maybe poor execution or factors beyond its control. Sometimes it could be saboed, intentionally or unintentionally by others with their own hare brain schemes that destroy the main plan. There will be some that are hare brains from the word go as the assumptions are just unworkable.
Is the financial dream an ambitious and workable plan or just another hare brain scheme? The key to the success of Singapore as a financial centre lies in the creation of a sophisticated and highly capitalized stock market with a wide range of products and good quality stocks. This is not all. It cannot be as simple as that. The infrastructure, the hardware and software are easy to buy with the money. The managers too can be bought with a price. There must also be capital, provided by the big funds, and investors, big and small. And the brokerages to lubricate the system and execute the trades. Some thought there is no need for brokerages, just machines trading against machines and online tradings will do. Some even think that there is no need for small investors or traders. Just bring in the big guns with their war chests to fight among themselves and it will be flying to the moon. The big funds are not that stupid. They will play the game if they can find advantages, especially those enshrined within the system, like eating up the helpless small investors.
The horse is sick. The ambitious plan seems to be grinding to a halt. Now, what have gone wrong? Big money was spent in talents and machines, and big boys with their big guns were blazing. For a system to work, all the parts must function accordingly. The system is as strong as its weakest link.
The weakest link, in my view, is the small traders and investors. These seemingly irrelevant elements in the whole system, dispensable to the big empty heads, are just like the planktons that feed the giant whales. Without the planktons, the whales will perish. Without the little guys as cannot fodders, the big boys will go hungry.
Who and what contribute to the demise of the little useless guys? One major flaw is to make the little guys do battle with high speed machines and sophisticated computers and their algos. A mismatch, and the small guys simply got wipe out. They don’t stand a chance. There goes an important small part of the system.
The banks too think so, that the little guys are not important. They are only interested in their high net worth clients, not for trading in the stock market, but for their wealth management schemes, to invest big money in ‘sophisticated’ products and notes. And to retain these clients, they are prepared to sacrifice the small guys, lower the commission in the name of free competition. Again, the small guys paying higher commission would not stand a chance.
In order to feed the fodder to the big boys, the small guys were encouraged to play with new instruments that they have hardly any clue about while the big guys were the experts in such games. The small guys were eaten up for sure. They lack the financial muscles and the sophisticated team of staff to manipulate the range of trading instruments to their advantage.
A weak link in the whole system is all that is needed to break the system. It stops cranking without the little guys feeding the system and the pockets of the big guys. The lowest element in a food chain still needs to be fatten to sustain the whole system and those at the top of the food chain. Ignoring or despising the arse hole is proving to be a big mistake.
This ambitious plan is turning to look more like another hare brain scheme with many other hare brain schemes sticking to it to drag it down. Where are the cannon fodders? Everyone seems so happy that the planktons are wiped out. Every hare brain seems so happy that commission can be lowered further with no consideration that commission is all that feeds the broking houses and their staff to keep the system going. No commission means no broking houses.
How long can the system hold with the shit building up and nowhere to go? Nature is built on a system where every part has its part to play and feeds on one another. It is a symbiotic relationship, a cycle. It cannot be one way, where one party or a small group benefits at the expense of the other. Human beans, being at the top of the food chain, is constantly being devoured by the smallest and most insignificant bacteria to keep the system in check and going. This fundamental principle of Nature cannot be ignored by hare brain schemes.
9/25/2011
Gambling Divisions in banks
Kweku Adoboli may not have gambled away UBS but is currently the most famous bank employees after Nick Leeson and Jerome Kerviel of Societe Generale’s fame. The latter lost US7b while Leeson in a way gambled away a bank. Some may dispute calling them bank employees as they are employed by a different division of the banks, involved in gambling. Oops, they don’t call it gambling, but trading and traders.
The banks have evolved over the last few decades into the biggest gamblers of all time. They set up big divisions, run independently, as an investment arm of the banks. They could also be full investment banks as stand alone operations. Hiding behind banking terminologies like asset management, wealth management, private banking, or whatever, their key function is gambling with clients money.
They placed bets in all kind of things, including arts, wines, and anything that is collectible and has a value. Adoboli, Kerviel and Leeson were just traders, and the closest to pure gambling. A Korean banker was reported to have jumped off his window when his bank was under investigation for trading violations. It is a worldwide phenomenon. Whatever nice terms they used, it boils down basically to gambling with high stakes, and getting riskier.
To stop the disguises and the deception, banks should simply set up gambling divisions and head straight to the casinos. It will be faster, cleaner and less trickery. Just place money on the table and it is either win or lose. The only problem is that they are not allowed to take advantage of the game by using high speed computers. The casinos are not stupid. There are some regulations in the gambling industry that do not allow unfair practices or cheating. And high speed computers and programme tradings will definitely be banned from the casinos.
The banks still have a huge advantage in having a big war chest. They only need to steam roll with their money in games that have better odds, like black or red in the roulette table. No need to acquire special skills about reading people’s faces in poker or black jack. Oh, poker is also a game that big money has a huge advantage and the banks can definitely give it a try.
In the game of roulette, the bank’s gamblers, I mean traders, can simply put his bets in red or black. He could simply double his bets on, say red, until red turns up. It is a sure win strategy given the near unlimited funds at the banks disposal. Red must come after a few rounds, or a few tens of round. Just keep doubling until it comes. No need expensive and sophisticated high speed computers or elaborated graphs, charts and systems. Yes, just place the bets on red or black and doubling until the next win.
Maybe calling it a gambling division will upset the morally righteous and correct people. Give it another fanciful name and just go and place the bets. At worst it is losing the bank. The CEO only needs to step down. The severance pay is quite good too. This is how advanced and sophisticated the banks have become.
The banks have evolved over the last few decades into the biggest gamblers of all time. They set up big divisions, run independently, as an investment arm of the banks. They could also be full investment banks as stand alone operations. Hiding behind banking terminologies like asset management, wealth management, private banking, or whatever, their key function is gambling with clients money.
They placed bets in all kind of things, including arts, wines, and anything that is collectible and has a value. Adoboli, Kerviel and Leeson were just traders, and the closest to pure gambling. A Korean banker was reported to have jumped off his window when his bank was under investigation for trading violations. It is a worldwide phenomenon. Whatever nice terms they used, it boils down basically to gambling with high stakes, and getting riskier.
To stop the disguises and the deception, banks should simply set up gambling divisions and head straight to the casinos. It will be faster, cleaner and less trickery. Just place money on the table and it is either win or lose. The only problem is that they are not allowed to take advantage of the game by using high speed computers. The casinos are not stupid. There are some regulations in the gambling industry that do not allow unfair practices or cheating. And high speed computers and programme tradings will definitely be banned from the casinos.
The banks still have a huge advantage in having a big war chest. They only need to steam roll with their money in games that have better odds, like black or red in the roulette table. No need to acquire special skills about reading people’s faces in poker or black jack. Oh, poker is also a game that big money has a huge advantage and the banks can definitely give it a try.
In the game of roulette, the bank’s gamblers, I mean traders, can simply put his bets in red or black. He could simply double his bets on, say red, until red turns up. It is a sure win strategy given the near unlimited funds at the banks disposal. Red must come after a few rounds, or a few tens of round. Just keep doubling until it comes. No need expensive and sophisticated high speed computers or elaborated graphs, charts and systems. Yes, just place the bets on red or black and doubling until the next win.
Maybe calling it a gambling division will upset the morally righteous and correct people. Give it another fanciful name and just go and place the bets. At worst it is losing the bank. The CEO only needs to step down. The severance pay is quite good too. This is how advanced and sophisticated the banks have become.
9/24/2011
Freedom fight of the oldies
It is about time that the oldies stand up to fight for their financial liberation and independence from all the rules and regulations that are against their interests. Qualifications, the oldies exclude all the yodas that are being paid million dollar pensions or have several chairmanships or directorships hanging on their feeble necks.
In many mature and developed countries, the oldies will be entitled to privileges in view of their age and a little compassion or acknowledgement of their past contributions to the country. Many are enjoying their golden years, doing the things they want, spending their life savings to amuse themselves. For the fortunate, their children or grandchildren will be showering them with loving tender care and financial freedom. For the less fortunate, the state will assume the responsibility to see that they are housed, clothed and fed without worrying for the next meal, nothing extravagant.
What is the state of welfare for our aged here? The state keeps an arms length away, or betterer, a pole apart. The aged must look after themselves and provide for themselves. Don’t expect charity from the state. And to ensure that the oldies would not be a liability to the state that boasts of having hundreds of billions in the reserve, there are many regulations that will tie the hands and legs of the oldies in the name of protecting them and their money to last till eternity.
How sad that after slogging for a life time, they could not really lay their hands on their own hard earned savings, but instead, the audacious state took control of the money only to dispense to them in drips and drapes, at its pleasure. And the oldies are completely helpless. And the best part, under the current regulations, many will depart from this world, with plenty of money left for eternity. Yes, they will leave behind money that they could not spend. What an efficient and gracious system!
Then the part about force savings imposed on the oldies. Bloody hell, these oldies could be 6 feet in the ground the next moment, and the laws dictated that they must save for tomorrow or a rainy day that may never come. I am referring to oldies that are still working and have to contribute to CPF and Medisave.
Why is the state treating the oldies this way? To protect them of course. You cannot argue against such a noble excuse. And for them to work, to have their own money in their CPF Retirement and Medisave accounts will bring them financial independence and dignity, not being a liability to anyone, family or state. I bow to such brilliant arguments.
But I protest. I say, keep your noble and clever arguments to yourselves. I want freedom to manage my own life, my own finances, to amuse myself with my own money. Can or not? As oldies, what is there to save for tomorrow? We are living by the days and everyday is a celebration. The oldies must stand up to such nonsense and take control of their own lives and finances. They have lived their lives, made all the mistakes they wanted, and there are just so little time left to make a few more before game over. It is the last few luxuries left in life. Freedom from regulations and the chains that little boys and girls put around them, and telling them that they are unable to look after themselves, especially their money.
The saddest thing is that the oldies are no longer able to fight for their own liberation from authority and oppression. They are just like the helpless inmates of nursing homes, at the mercy of their caregivers.
Where is my money? I just want to have a good weekend. Just because god says oldies may live till 90, it does not mean that god can have the oldies money as well.
In many mature and developed countries, the oldies will be entitled to privileges in view of their age and a little compassion or acknowledgement of their past contributions to the country. Many are enjoying their golden years, doing the things they want, spending their life savings to amuse themselves. For the fortunate, their children or grandchildren will be showering them with loving tender care and financial freedom. For the less fortunate, the state will assume the responsibility to see that they are housed, clothed and fed without worrying for the next meal, nothing extravagant.
What is the state of welfare for our aged here? The state keeps an arms length away, or betterer, a pole apart. The aged must look after themselves and provide for themselves. Don’t expect charity from the state. And to ensure that the oldies would not be a liability to the state that boasts of having hundreds of billions in the reserve, there are many regulations that will tie the hands and legs of the oldies in the name of protecting them and their money to last till eternity.
How sad that after slogging for a life time, they could not really lay their hands on their own hard earned savings, but instead, the audacious state took control of the money only to dispense to them in drips and drapes, at its pleasure. And the oldies are completely helpless. And the best part, under the current regulations, many will depart from this world, with plenty of money left for eternity. Yes, they will leave behind money that they could not spend. What an efficient and gracious system!
Then the part about force savings imposed on the oldies. Bloody hell, these oldies could be 6 feet in the ground the next moment, and the laws dictated that they must save for tomorrow or a rainy day that may never come. I am referring to oldies that are still working and have to contribute to CPF and Medisave.
Why is the state treating the oldies this way? To protect them of course. You cannot argue against such a noble excuse. And for them to work, to have their own money in their CPF Retirement and Medisave accounts will bring them financial independence and dignity, not being a liability to anyone, family or state. I bow to such brilliant arguments.
But I protest. I say, keep your noble and clever arguments to yourselves. I want freedom to manage my own life, my own finances, to amuse myself with my own money. Can or not? As oldies, what is there to save for tomorrow? We are living by the days and everyday is a celebration. The oldies must stand up to such nonsense and take control of their own lives and finances. They have lived their lives, made all the mistakes they wanted, and there are just so little time left to make a few more before game over. It is the last few luxuries left in life. Freedom from regulations and the chains that little boys and girls put around them, and telling them that they are unable to look after themselves, especially their money.
The saddest thing is that the oldies are no longer able to fight for their own liberation from authority and oppression. They are just like the helpless inmates of nursing homes, at the mercy of their caregivers.
Where is my money? I just want to have a good weekend. Just because god says oldies may live till 90, it does not mean that god can have the oldies money as well.
9/23/2011
High salary is the root of all evil
Why are banks going down under so quickly? Greed, in the form of high salaries and high bonuses. Paying the top management a ransom is easy, but finding the money to pay is not. The money must come from somewhere. What business in banking can generate that kind of income to sustain the big pay checks and the big bonuses? Gambling and high risk pursuits, trading and selling dangerous products, encouraging clients to gamble and take risk.
The banks have no choice. Every monkey wants to be paid in golden peanuts. The good old days of slow and steady growth, with decent pay cheques are seen as backward and unprogressive, unproductive. The banks are only doing well if they can perform better than the market. That means if one bank or more banks are doing better or betterer, the market indicators will go up. And banks that failed to keep up are seen as failures. Even insurance and pension funds are in high risk financial instruments.
So, if the shareholders want good results, they need to pay golden monkeys to produce the gold. Really? In most cases the shareholders, mostly minorities, did not have any say. It is left to the top management and their self serving logic, circular logic, which all ended up in paying themselves crazy, at the expense of the small shareholders.
In a way, our little island is also caught in the same mousetrap. The high salaries are unsustainable. The money must come from somewhere, not just a few plates of char kway teow. It is more serious than that. The whole machinery needs to be lubricated with expensive oils. That is why high economic growth numbers are indispensable. That is why high population growth is indispensable. Who really benefitted from this high growth formula?
The little guys are constantly trying to make ends meet, told to tighten belts, while the big guys are crying salary not enough. The $200 pay increase will quickly evaporate by the rising cost of everything. The big guys know, and that is why they are asking for more millions. There is no real absolute gain or improvement for the lower income group. Only the small elite group and the super rich are seeing real growth in income and quality of life with million dollar bonuses and tens of thousands in increments. The cost of living cannot touch them. Their real income accelerates at rocket speed against inflation. Inflation only eats up the income of the average and lower wage earners.
High salaries are not sustainable and will add to a lot of costs to the system, including social and the intangibles. I know that some will disagree and will vouch that high salaries should be the way to go, like we have plenty of land to build more houses and facilities for an unending influx of foreigners, 10m, 20m, no problem at all. The secrets to our success are high salaries and high population growth.
No one will look further down the road to see the disasters that can be wrecked by these two gambits.
The banks have no choice. Every monkey wants to be paid in golden peanuts. The good old days of slow and steady growth, with decent pay cheques are seen as backward and unprogressive, unproductive. The banks are only doing well if they can perform better than the market. That means if one bank or more banks are doing better or betterer, the market indicators will go up. And banks that failed to keep up are seen as failures. Even insurance and pension funds are in high risk financial instruments.
So, if the shareholders want good results, they need to pay golden monkeys to produce the gold. Really? In most cases the shareholders, mostly minorities, did not have any say. It is left to the top management and their self serving logic, circular logic, which all ended up in paying themselves crazy, at the expense of the small shareholders.
In a way, our little island is also caught in the same mousetrap. The high salaries are unsustainable. The money must come from somewhere, not just a few plates of char kway teow. It is more serious than that. The whole machinery needs to be lubricated with expensive oils. That is why high economic growth numbers are indispensable. That is why high population growth is indispensable. Who really benefitted from this high growth formula?
The little guys are constantly trying to make ends meet, told to tighten belts, while the big guys are crying salary not enough. The $200 pay increase will quickly evaporate by the rising cost of everything. The big guys know, and that is why they are asking for more millions. There is no real absolute gain or improvement for the lower income group. Only the small elite group and the super rich are seeing real growth in income and quality of life with million dollar bonuses and tens of thousands in increments. The cost of living cannot touch them. Their real income accelerates at rocket speed against inflation. Inflation only eats up the income of the average and lower wage earners.
High salaries are not sustainable and will add to a lot of costs to the system, including social and the intangibles. I know that some will disagree and will vouch that high salaries should be the way to go, like we have plenty of land to build more houses and facilities for an unending influx of foreigners, 10m, 20m, no problem at all. The secrets to our success are high salaries and high population growth.
No one will look further down the road to see the disasters that can be wrecked by these two gambits.
OSA, ISA - The guardians of national interests
The recent calls for more transparency on the two sovereign funds and reports on their performance have elicited an official reply from the MOF. It is now official that GIC and Temasek would not report their numbers as disclosure would put the nation’s interests at risk. Thus divulging such information will come under the OSA, the Official Secrets Act. Maybe there can just report just the profit or loss without stating how this is related to the total assets. At least it will give the people a glimpse or feel of whether the two funds are making money or losing money. If not they will just have to look at other ways to guess if the funds are doing well. A convenient indicator is the CPF savings and whether more schemes will be schemed to delay or push back the withdrawal dates.
We are a small country and very vulnerable. Not only should GIC and Temasek be protected under the OSA, DBS, ST Eng and a few other big GLCs should also come under this umbrella. We just cannot afford to expose too much or else our security would be compromised.
The other important pillar of our national security is the ISA. Just because Malaysia is lifting this skirt, it does not mean that we should also do so. We are small and very vulnerable, especially with terrorism becoming a big threat. We should take this very seriously and not to compromise the happy situation we are having at the moment.
I would recommend that all the digital maps in the internet be removed and anyone in possession of them be monitored carefully. These are highly sensitive and strategic information that should not be easily made available. Also, the schedules of SIA and SMRT must also be made available on a need to know basis. Terrorists will be most happy to have maps and schedules to plan their operations.
Now what else should be protected and covered under the OSA and ISA? Some of you may not realized, taking photos of sensitive and security institutions and their infrastructure is not allowed, including embassy layouts.
Don’t pray pray with our national security. The OSA and ISA are the silent guardians of our national security and survival. Ok, please feel free to disagree with me. This is just my current view. I will change my view if there is convincing feedback to do so. I may even cancel this article.
We are a small country and very vulnerable. Not only should GIC and Temasek be protected under the OSA, DBS, ST Eng and a few other big GLCs should also come under this umbrella. We just cannot afford to expose too much or else our security would be compromised.
The other important pillar of our national security is the ISA. Just because Malaysia is lifting this skirt, it does not mean that we should also do so. We are small and very vulnerable, especially with terrorism becoming a big threat. We should take this very seriously and not to compromise the happy situation we are having at the moment.
I would recommend that all the digital maps in the internet be removed and anyone in possession of them be monitored carefully. These are highly sensitive and strategic information that should not be easily made available. Also, the schedules of SIA and SMRT must also be made available on a need to know basis. Terrorists will be most happy to have maps and schedules to plan their operations.
Now what else should be protected and covered under the OSA and ISA? Some of you may not realized, taking photos of sensitive and security institutions and their infrastructure is not allowed, including embassy layouts.
Don’t pray pray with our national security. The OSA and ISA are the silent guardians of our national security and survival. Ok, please feel free to disagree with me. This is just my current view. I will change my view if there is convincing feedback to do so. I may even cancel this article.
9/22/2011
The Internet Balancing Act
This is the most appropriate statement about the state of affairs in Cyber World. It is all a balancing act by the internet service providers, software designers and producers, software companies and the internet terrorist brigades and their voracious and destructive viruses. They compliment each other’s existence and usefulness, scratching each other’s back and making a pile for themselves. The victims are all the internet users, the institutions that depended on the internet to do their businesses, and the policing forces that are always playing catch up with them.
The software and systems providers need the vicious virus developers to keep the losers continuously upgrading their systems and keeping the industry happy and rich. While they think that this is a good symbiotic relationship to fleece on the innocent users, it will one day grow to such a mammoth proportion that will crash the whole system.
Internet virus developers, including spammers and hackers are dangerous and destructive to the viability of the internet as a convenient business tools. Until the authorities and the software developers, system providers are serious in removing this plague, they will have a life of their own, conveniently accepted by the software developers and system providers, to create problems and generate more businesses.
My redbeanforum.com has been subjected to daily attacks of pornography and nonsensical spammings, nothing different from the attacks on MBS or Resort World, or other govt or commercial institutions. I have made it a read only blog to stop the attack.
I am very pleased with Bloggers for being able to fend off most of the spammings and pornographic attacks and keeping mysingaporenews.blogspot.com relatively free from them. Unlike other blogging or internet platform, Blogger is superior in this sense. Many of you did not see the spamming and have taken this for granted. But I am receiving daily feedbacks on the number of attacks in my email.
There is no reason why the scourge of spamming and virus attacks cannot be eradicated. The culprits are the software developers and system providers who are in a way accomplices to this menace and allowing them to continue to spread the disease. If the authorities can come down hard on them, with their combined resources, every one of them will be arrested. There is no where to hide and no where to run, if the authorities and the industry mean business to wipe out this pain for good.
Until then, it will be a balancing act. Yes, we need the National Cyber Security Centre to combat such crimes.
The software and systems providers need the vicious virus developers to keep the losers continuously upgrading their systems and keeping the industry happy and rich. While they think that this is a good symbiotic relationship to fleece on the innocent users, it will one day grow to such a mammoth proportion that will crash the whole system.
Internet virus developers, including spammers and hackers are dangerous and destructive to the viability of the internet as a convenient business tools. Until the authorities and the software developers, system providers are serious in removing this plague, they will have a life of their own, conveniently accepted by the software developers and system providers, to create problems and generate more businesses.
My redbeanforum.com has been subjected to daily attacks of pornography and nonsensical spammings, nothing different from the attacks on MBS or Resort World, or other govt or commercial institutions. I have made it a read only blog to stop the attack.
I am very pleased with Bloggers for being able to fend off most of the spammings and pornographic attacks and keeping mysingaporenews.blogspot.com relatively free from them. Unlike other blogging or internet platform, Blogger is superior in this sense. Many of you did not see the spamming and have taken this for granted. But I am receiving daily feedbacks on the number of attacks in my email.
There is no reason why the scourge of spamming and virus attacks cannot be eradicated. The culprits are the software developers and system providers who are in a way accomplices to this menace and allowing them to continue to spread the disease. If the authorities can come down hard on them, with their combined resources, every one of them will be arrested. There is no where to hide and no where to run, if the authorities and the industry mean business to wipe out this pain for good.
Until then, it will be a balancing act. Yes, we need the National Cyber Security Centre to combat such crimes.
The horse is sick
It was a strong and healthy horse. The owner saw the great potential in this animal. He had great plans for the horse to run in all the great derbies across the world, Singapore, Hongkong, Dubai, American, Australian, English etc, to be a champion among the best of race horses.
The best international trainer and manager were hired to groom this horse. World class vets, dieticians, the best diet, drugs and stimulants were injected into the horse. A well planned training regime and the best computer programmes to monitor its progress. The best and finest of everything money can buy were bought for the horse.
For a while things looked promising. The horse was lean and trim, looking more like a race horse. The bets were good and winnings started to roll in. International syndicates were brought in to raise the bets. Big dreams and big time gambling and big egos were fanned.
Then everything started to go wrong. And the horse fell sick, very ill. The punters lost everything and lost interests as well as their capital. The international syndicates also started to lose interests as the winnings got smaller. Their investments were big and they expected big returns. But with all the punters packing their bags after losing everything they had, there was nothing left for the pickings.
What went wrong? Actually it was too obvious. Everyone knew what went wrong except the owner. Even the international manager and trainer knew what was wrong from the start. But they were paid well and tried their best, but not telling the owner. Or maybe they too believed that they could do wonders to the horse.
It was never a thoroughbred to start with. It was a strong and sturdy work horse, a farm horse. It would work hard in the farm and be very productive in its own way and at its own pace. It could never race with the best in the world. It could not take the drugs and the regimes of a race horse.
The name of the horse is SGX.
In the last few sessions, the trading volume has dropped to a level never seen before. It was scary. The investors are fleeing or have gone hiding. They could not win in a system that favours the big players and their machines. Small innocent men are no match against machines. They lost and lost and lost. So were the remisiers trying to trade against the high speed computers.
The next victim would be the brokerage. Their overheads are high. Management, staff, rentals, hardwares, all cost money. The miserable trading volumes would not be able to support their overheads. Retrenchment and downsizing are imminent.
The big players and the machines will find it no longer lucrative to be in the market when there is a dearth of investors. They can’t justify their presence without the comparable income and winnings from the market. They will quit for greener pastures.
The listed companies will find it meaningless to see their shares become penny stocks, practically worthless and unable to raise funds from the market. There is no point paying the listing fee to be in a cheap stock market. It is a matter of time before they start to delist from the exchange as well.
New IPOs will have problems finding takers. The valuation will be low and not worth listing. Even if they are successful in listing, the shares would soon become penny stocks.
The other big losers will be the two great sovereign funds. The values in their blue chip holdings too will go dwindle like any other stocks.
Can the sick horse be nursed back to health? The toll for indiscretion and megalomanic dreams are high. The infrastructure and supporting base of small investors are badly hurt and near to ruins. The industry is at a point of self destruct.
Whither the SGX? Who is killing this workhorse?
The best international trainer and manager were hired to groom this horse. World class vets, dieticians, the best diet, drugs and stimulants were injected into the horse. A well planned training regime and the best computer programmes to monitor its progress. The best and finest of everything money can buy were bought for the horse.
For a while things looked promising. The horse was lean and trim, looking more like a race horse. The bets were good and winnings started to roll in. International syndicates were brought in to raise the bets. Big dreams and big time gambling and big egos were fanned.
Then everything started to go wrong. And the horse fell sick, very ill. The punters lost everything and lost interests as well as their capital. The international syndicates also started to lose interests as the winnings got smaller. Their investments were big and they expected big returns. But with all the punters packing their bags after losing everything they had, there was nothing left for the pickings.
What went wrong? Actually it was too obvious. Everyone knew what went wrong except the owner. Even the international manager and trainer knew what was wrong from the start. But they were paid well and tried their best, but not telling the owner. Or maybe they too believed that they could do wonders to the horse.
It was never a thoroughbred to start with. It was a strong and sturdy work horse, a farm horse. It would work hard in the farm and be very productive in its own way and at its own pace. It could never race with the best in the world. It could not take the drugs and the regimes of a race horse.
The name of the horse is SGX.
In the last few sessions, the trading volume has dropped to a level never seen before. It was scary. The investors are fleeing or have gone hiding. They could not win in a system that favours the big players and their machines. Small innocent men are no match against machines. They lost and lost and lost. So were the remisiers trying to trade against the high speed computers.
The next victim would be the brokerage. Their overheads are high. Management, staff, rentals, hardwares, all cost money. The miserable trading volumes would not be able to support their overheads. Retrenchment and downsizing are imminent.
The big players and the machines will find it no longer lucrative to be in the market when there is a dearth of investors. They can’t justify their presence without the comparable income and winnings from the market. They will quit for greener pastures.
The listed companies will find it meaningless to see their shares become penny stocks, practically worthless and unable to raise funds from the market. There is no point paying the listing fee to be in a cheap stock market. It is a matter of time before they start to delist from the exchange as well.
New IPOs will have problems finding takers. The valuation will be low and not worth listing. Even if they are successful in listing, the shares would soon become penny stocks.
The other big losers will be the two great sovereign funds. The values in their blue chip holdings too will go dwindle like any other stocks.
Can the sick horse be nursed back to health? The toll for indiscretion and megalomanic dreams are high. The infrastructure and supporting base of small investors are badly hurt and near to ruins. The industry is at a point of self destruct.
Whither the SGX? Who is killing this workhorse?
9/21/2011
Is Halloween a wholesome family affair?
My little knowledge of this western cultural event is that it is a family affair where the parents would dress up their little love ones and walk with them, to knock on their neighbours’ doors for a little treat and fun. It is a wholesome family activity really. Or is it not? Maybe our expats here could help to enlighten the ignorant world citizens that claimed to be well travelled and well read of this festivity that it is not anti family.
My memory of the Seventh Moon Celebration also says that it was/is a family affair. The parents would be buying all the goodies and preparing them as offerings to the good brothers for blessing. No one was to say anything bad. Hmmm, respecting the good brothers. All would be in the best of behavior in greeting and praying to them, and offering them the goodies. What’s wrong with diplomacy with the spirits or even devils?
And at the end of it, there would be a feast. Many in those days did not eat chicken or meat regularly. In such a festival, meat, chicken and fish would be on the table. It was a hearty meal for all that did not come often. If this is not a family affair, what is?
The Chinese cultural and religious practices are all embracing and all inclusive. Gods, deities, spirits, devils etc are all welcome to live in peace and harmony with human beans. Gods, deities, spirits, devils can also give blessing and protection to the mortals. When they are kind, they can give 4 D numbers too. There is no constant battle between the gods and the devils. They are all part and parcel of life, in this world and in the other worlds.
Unbelieveable! The physical and spiritual worlds are very colourful and can co exist. And this can only be more colourful with international and foreign devils in our midst. As a cosmopolitan city of the world, we cannot afford to be narrow minded to be religiously correct and puritans.
My memory of the Seventh Moon Celebration also says that it was/is a family affair. The parents would be buying all the goodies and preparing them as offerings to the good brothers for blessing. No one was to say anything bad. Hmmm, respecting the good brothers. All would be in the best of behavior in greeting and praying to them, and offering them the goodies. What’s wrong with diplomacy with the spirits or even devils?
And at the end of it, there would be a feast. Many in those days did not eat chicken or meat regularly. In such a festival, meat, chicken and fish would be on the table. It was a hearty meal for all that did not come often. If this is not a family affair, what is?
The Chinese cultural and religious practices are all embracing and all inclusive. Gods, deities, spirits, devils etc are all welcome to live in peace and harmony with human beans. Gods, deities, spirits, devils can also give blessing and protection to the mortals. When they are kind, they can give 4 D numbers too. There is no constant battle between the gods and the devils. They are all part and parcel of life, in this world and in the other worlds.
Unbelieveable! The physical and spiritual worlds are very colourful and can co exist. And this can only be more colourful with international and foreign devils in our midst. As a cosmopolitan city of the world, we cannot afford to be narrow minded to be religiously correct and puritans.
When scoundrels are in charge
Nations or empires rise and fall throughout history. They all went through the same stages of change in their political ethos regardless of whatever political system.
When an empire or a nation is in the ascent, the leaders will be honourable and work for the betterment of country and people. The same leaders could become dishonourable and cheat, and run the country for their own personal benefits when the empire or nation is in decline. When nations are on the rise, there will be righteousness, rule of law, able leadership and a few good men.
A good example of a nation on the rise is China. Just ignore the political craps coming out from the West and look at how that country is being managed, growing in leaps and bounds, and will soon overtake America, driven by its own talents and political leadership. It was blessed with admirable and selfless men like Deng Xiao Ping, Jiang Ze Min, Zhu Rong Ji, and now Hu Jin Tao and Wen Jia Bao plus a few very able second echelon leaders.
These men are not without faults. But they are driven with a cause. The country is also not without faults, with corruption and abuses of authority in many places. But the rule of law is upheld and will deal with the violators. The violators are the scoundrels and the law is against them. The scoundrels know that they are doing wrong and will have to face justice and the rule of law.
When a nation is in decline, like the US, there will still be the rule of law. But scoundrels are everywhere. And the scoundrels do not think that they are doing wrong and that they have to account for themselves under the rule of law. They hijack and apply the rule of law to their benefits. The rule of law is for the scoundrels. When such a situation is reached, the descent from glory is imminent and unavoidable. For the scoundrels are in charge and the rule of law will not stop them, or cannot stop them from their wrong doings. The scoundrels are on the right side of the rule of law and interpret the rule of the law to their advantage.
See the difference in the case of a nation in ascent? There the scoundrels know that their actions are wrong. In the case of a nation in decline, the scoundrels do not think they are doing any wrong, and their conscience is clear, or they just pretend to be so.
Every society has its own share of scoundrels. But scoundrels are normally put in the right places on legal grounds, ethical and moral grounds. When legal, ethical and moral grounds are blurred and scoundrels can scale over them, no longer obstructions to their actions, when there is no guilt, no wrongs and no conscience pricks, the end is near.
When an empire or a nation is in the ascent, the leaders will be honourable and work for the betterment of country and people. The same leaders could become dishonourable and cheat, and run the country for their own personal benefits when the empire or nation is in decline. When nations are on the rise, there will be righteousness, rule of law, able leadership and a few good men.
A good example of a nation on the rise is China. Just ignore the political craps coming out from the West and look at how that country is being managed, growing in leaps and bounds, and will soon overtake America, driven by its own talents and political leadership. It was blessed with admirable and selfless men like Deng Xiao Ping, Jiang Ze Min, Zhu Rong Ji, and now Hu Jin Tao and Wen Jia Bao plus a few very able second echelon leaders.
These men are not without faults. But they are driven with a cause. The country is also not without faults, with corruption and abuses of authority in many places. But the rule of law is upheld and will deal with the violators. The violators are the scoundrels and the law is against them. The scoundrels know that they are doing wrong and will have to face justice and the rule of law.
When a nation is in decline, like the US, there will still be the rule of law. But scoundrels are everywhere. And the scoundrels do not think that they are doing wrong and that they have to account for themselves under the rule of law. They hijack and apply the rule of law to their benefits. The rule of law is for the scoundrels. When such a situation is reached, the descent from glory is imminent and unavoidable. For the scoundrels are in charge and the rule of law will not stop them, or cannot stop them from their wrong doings. The scoundrels are on the right side of the rule of law and interpret the rule of the law to their advantage.
See the difference in the case of a nation in ascent? There the scoundrels know that their actions are wrong. In the case of a nation in decline, the scoundrels do not think they are doing any wrong, and their conscience is clear, or they just pretend to be so.
Every society has its own share of scoundrels. But scoundrels are normally put in the right places on legal grounds, ethical and moral grounds. When legal, ethical and moral grounds are blurred and scoundrels can scale over them, no longer obstructions to their actions, when there is no guilt, no wrongs and no conscience pricks, the end is near.
The UBS Circus in town
The loss by the trader Kweku Adoboli, has ballooned to $2.9b. GIC is demanding that UBS takes firm action to deal with the problem. The CEO, Oswald Gruebel is asking the board of directors for permission to restructure the banks investment arm. This is like after Mas Selamat had escaped and everyone responsible was calling for corrective actions when the actions should have been taken before it happened.
In the case of banking frauds from rogue traders, it is not something new. It happened and happened and happened. Why are banks paying millions and millions for assholes to run them and allow such a simple crime to be repeated over and over again? It beats me.
The root of the problem runs deeper in the whole financial industry. It is all grounded on greed, to make quick billions to pay themselves. The banks were once an icon of stability and security, rock solid. Banks were conservative, managing wealth. Now banks want actions too, to make quick billions, to pay big bonuses. So engaging in gambling is just another means to achieve such an objective. No, they don’t gamble, they invest in risky products, invented risky products, trade in risky products.
We have seen Barings Bank at ground zero, and a few more strong and solid American financial institutions on the ground too. No one is taking heed. When banks and financial institutions are all gambling in risky products, it is only a matter of time when they go under. This will include DBS, UOB and OCBC, if they are not careful. It will include GIC, Temasek and the SGX. With our SWFs placing their big chips everywhere in such a risky time, a financial collapse could wipe off everything.
The financial institutions and industry have gone far too deep into the abyss of gambling. They don’t even see the difference. It is like drug addicts or the drunkards, without knowing what is happening to them. Only the people watching from outside the fishbowl can see clearly what is happening.
Gambling, taking high risk, conflict of interests, are now part and parcel of the financial industry. More will fail, and fall real hard, if the real problem is not treated. The greed to be big, to be a world player, comes at a big cost, while the ego gets bigger. All cautions were thrown out of the window. Selling of toxic products is fair game, creating an unfair system is fair game, conflict of interests, trading against clients, against small investors is fair game. Making small innocent investors to gamble in useless derivatives is fair game. Paying hundreds of millions of debt of badly run companies, like Manchester United, is fair game.
The road down is very slippery. When will the banks be stopped from risky trading and gambling? When will the financial system be overhauled and toxic products be stopped?
In the case of banking frauds from rogue traders, it is not something new. It happened and happened and happened. Why are banks paying millions and millions for assholes to run them and allow such a simple crime to be repeated over and over again? It beats me.
The root of the problem runs deeper in the whole financial industry. It is all grounded on greed, to make quick billions to pay themselves. The banks were once an icon of stability and security, rock solid. Banks were conservative, managing wealth. Now banks want actions too, to make quick billions, to pay big bonuses. So engaging in gambling is just another means to achieve such an objective. No, they don’t gamble, they invest in risky products, invented risky products, trade in risky products.
We have seen Barings Bank at ground zero, and a few more strong and solid American financial institutions on the ground too. No one is taking heed. When banks and financial institutions are all gambling in risky products, it is only a matter of time when they go under. This will include DBS, UOB and OCBC, if they are not careful. It will include GIC, Temasek and the SGX. With our SWFs placing their big chips everywhere in such a risky time, a financial collapse could wipe off everything.
The financial institutions and industry have gone far too deep into the abyss of gambling. They don’t even see the difference. It is like drug addicts or the drunkards, without knowing what is happening to them. Only the people watching from outside the fishbowl can see clearly what is happening.
Gambling, taking high risk, conflict of interests, are now part and parcel of the financial industry. More will fail, and fall real hard, if the real problem is not treated. The greed to be big, to be a world player, comes at a big cost, while the ego gets bigger. All cautions were thrown out of the window. Selling of toxic products is fair game, creating an unfair system is fair game, conflict of interests, trading against clients, against small investors is fair game. Making small innocent investors to gamble in useless derivatives is fair game. Paying hundreds of millions of debt of badly run companies, like Manchester United, is fair game.
The road down is very slippery. When will the banks be stopped from risky trading and gambling? When will the financial system be overhauled and toxic products be stopped?
9/20/2011
Taking feedback seriously
Wildlife Reserves Singapore is taking feedback very seriously and cancelled a multi million dollar event with 1,000 tickets sold and only less than a fortnight to go. I think this is a progressive spirit to adopt given that Singaporeans are now more outspoken and more willing to give feedback. And sure, feedback must not only be taken seriously but follow up actions must be taken to mean business.
Kudos to the CEO for taking immediate action to cancel the event after negative feedback from the public. I am sure she must have acted on strong feedback, definitely more than the 1,000 ticket holders who wanted to attend the event. I don’t think she would have done so if there were 999 or 99 negative comments to overrule the pleasure seeking 1,000.
After the last Presidential Election, it is obvious that many people are unhappy with the obscene salary that is paid to this office. Nothing got to do with Tony Tan or Nathan. Nothing to do with the office either. It is just that the office is seen as doing too little to justify that kind of ridiculous, out of this world, obscene, nonsensical, insensitive, unjustifiable, unspeakable, shameless… joking pay. This is just my view and I am sure that there are people out there who think that the office is deserving of every cent that is provided for, and the pay is very reasonable for the huge responsibilities of the office. I just want to differ.
Would this office be disbanded, cancelled, just like the Halloween Night event if there is enough negative feedback calling for its dissolution? And how many negative votes will be needed to disband this office?
I am putting up another poll here to ask the people if they think this office of the President should be disbanded or replace with simply a ceremonial one with an honorarium of not more than $250k annually. And I hope everyone here can get their friends to vote this time to give the poll more credence. I don’t think we will get a few hundred thousand votes, but a big enough negative votes should be a good indicator, perhaps, for the main media or govt organization to do a serious poll, maybe even a referendum, whether to scrap this office at all.
Are the people pissed off with such a waste of public money, so many millions, for this office?
Feedback from the lunatic fringe is also feedback.
Kudos to the CEO for taking immediate action to cancel the event after negative feedback from the public. I am sure she must have acted on strong feedback, definitely more than the 1,000 ticket holders who wanted to attend the event. I don’t think she would have done so if there were 999 or 99 negative comments to overrule the pleasure seeking 1,000.
After the last Presidential Election, it is obvious that many people are unhappy with the obscene salary that is paid to this office. Nothing got to do with Tony Tan or Nathan. Nothing to do with the office either. It is just that the office is seen as doing too little to justify that kind of ridiculous, out of this world, obscene, nonsensical, insensitive, unjustifiable, unspeakable, shameless… joking pay. This is just my view and I am sure that there are people out there who think that the office is deserving of every cent that is provided for, and the pay is very reasonable for the huge responsibilities of the office. I just want to differ.
Would this office be disbanded, cancelled, just like the Halloween Night event if there is enough negative feedback calling for its dissolution? And how many negative votes will be needed to disband this office?
I am putting up another poll here to ask the people if they think this office of the President should be disbanded or replace with simply a ceremonial one with an honorarium of not more than $250k annually. And I hope everyone here can get their friends to vote this time to give the poll more credence. I don’t think we will get a few hundred thousand votes, but a big enough negative votes should be a good indicator, perhaps, for the main media or govt organization to do a serious poll, maybe even a referendum, whether to scrap this office at all.
Are the people pissed off with such a waste of public money, so many millions, for this office?
Feedback from the lunatic fringe is also feedback.
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