Pride in service

The Japanese are exemplary in pride in service or anything that they do. They will sweep the streets around their homes to keep it spotlessly clean. As an artisan or worker, they take great pride in their work and services. The British used to, or still have their high end butlers, impeccably dressed and well mannered, controlled and a bit snobbish, but providing an excellent service to their paymasters.

The closest that Singaporeans can come to this class of service is the taxi drivers. But not every taxi drivers, but those limousine drivers, with their long sleeves and ties. They are providing a service quite similar to the butlers, well mannered, well dressed, polite and willing to serve. I think that will be my next job.

There is another qualification for this group of professional taxi service. Most of them are likely to be ex PMETs and even with tertiary qualifications. They are unemployable under the current job market condition, and have no choice but to make a decent living in the best way they could. And they still have pride, and pride in what they could offer.
Don’t compare them with the ordinary uneducated and uncouth taxi drivers that would run you down if you are not careful. And they would share with you their stale tobacco smell with their cigarette butts left in a tin inside the cab.

Pride in service is not easy to develop among the lesser educated. But we will get there when more graduates start to drive taxis. And as a profession, they would not mind fetching the foreign talents everywhere, including the ladies to Geylang, to Orchard Road or Botanic Garden. This will help in our process towards a more graceful society.

Would there be real change in govt policies?

The first session of Parliament is showing some promise that the ruling party has finally got the message, that the people are pissed off with the arrogant attitude and past policies. Many are now questioning why now when things had already gone badly wrong in the past. The younger MPs are saying that they need to listen, really listen, seriously listen, and engage the people about their unhappiness and their aspirations. I think they are speaking from their hearts. The years of blanket policies and parroting party positions they did not agree may be changing. Cheng Bock is telling them to be themselves, to speak up for the people, not for the party.

While talk is easy, just like blogging, what is real is the substance. Could there be real change? While on one hand there were talks about changing with the time, the moribund mindset of the old quickly appeared. Believe me, some of them still did not know what is going on. They are still deeply embedded in old mindset and old ways of doing things, and would not question if those ways were right in the first place.

The empty your wallet policy must go. Oh dear, none of them will understand what this policy is all about. They did not know there is such a policy in the first place. They must be scratching their heads now, first time hearing this. One even suggested that 3 room resale flats must be reserved only for the lower income group. See how thick it can be? The 3 rm flats are no longer cheap. And the problem, where is the problem? Do they know what is the problem, what is the cause of high demand for flats? It is the empty thy wallet policy. Affordability is the govt’s pet catchphrase.
Why is it a sin for people who have a little more savings, or earning a bit more but to want to buy smaller flats? Why can’t people be allowed to save for their old age or other needs? Why must people be forced to buy bigger and bigger flats or private properties? This is sick thinking. And it is sicker that many Singaporeans did not even know that they are being forced to buy bigger flats or more expensive properties they do don’t need, do not want, or cannot afford because of other commitments and priorities. Some still quipping happily that no one is forcing the people to buy flats they cannot afford! Heard of daft Sinkies?

Public housing policy must change to meet the needs of the people, not the needs and demand of the govt. And the govt got the cheek to complain that the people have very little savings for retirement? How so? Don’t need to search, it is the affordability policy, the empty thy wallet policy.

And this policy is also practiced in hospitalization. The very mean testing procedure is meant to empty thy wallet. Why must people be forced to use more expensive wards and pay for bigger hospital bills?

Oh, the supply of C class wards is limited. So is the supply of smaller flats. Come on, stop the bull. The supply is not enough because the govt does not want to provide more C class wards or smaller flats. Is it that difficult to provide more C class wards or build more smaller flats when every flat is going to empty the wallets of the people?

Will there be real change? Unless the basic assumptions and thinking are changed, there can be no real change. How about flushing the brains with a water hose? And they may harass the people again by the use of authority. And all will be back to square one. Talk is cheap. The people are trying to engage the govt for real change that will be good for them and the country. Will the govt be willing to change for the good of the people and not using its own parameters and prescriptions? More bulls coming?

Dispute in South China Sea

Indian and Vietnam have signed an agreement to prospect for oil in the disputed South China Sea. China has warned India not to fish in trouble water, especially China’s trouble water. India is now expanding its presence out of the Indian Ocean into the South China Sea. It has also sent its warship into the area as a show of force. And India and Vietnam are staying firm. Looks like Asians are all eager for war after years of peace. Good show India/Vietnam.

India and Vietnam make a perfect partner to take on China in a potential military conflict. Both have been defeated by China and taught a painful lesson in their border adventures into China. And both would like the opportunity to avenge their embarrassing defeats by the Chinese soldiers.

India is an up and coming superpower. It has an aircraft carrier, or maybe two. China has none except for a newly refurbished carrier for training purposes. India should be militarily superior to the Chinese in aircraft carrier alone. It has a truly blue water fleet and can project its power to the South China Sea. It can also depend on Vietnam for air cover. On balance, the combination of India and Vietnam looks superior to the Chinese Navy.

The Chinese Navy has never fought any battle against any country since the humiliating defeat by the British and later by Japan. This will be a good chance for India and Vietnam to show the Chinese a thing or two in naval warfare. They might have lost a land war, but a naval conflict is looking good for them.

India should bravely send its aircraft carrier to the South China Sea and test the resolve of the Chinese. And if they can prove that they are more superior to the Chinese, in combination with Vietnam, they stand to take over all the islands in South China Sea from China. And with the oil fields in the sea, India could be in control of a rich strategic resource and also deprive China of it. It is a good gamble for India. Nehru’s forward looking policy can be continued in an eastward looking policy. It will be a great opportunity for India to emerge as a bigger power than China.

Come on India, go for it. Come on Vietnam, you can do it.

PS. Just a reminder. The PLA can still cross the border should India/Vietnam engage in a naval battle with China. If both think they can fight China at sea, it does not mean that China cannot open another front on land. I must say it will be really interesting.

Cheng Bock’s next move

As an experienced fighter in Parliament, and being a veteran in PAP, Cheng Bock knows how the system works, how PAP works. He is the man to watch what is happening in Parliament. He will know what is real and what is unreal, and if there is any wayang, he too will know.

He is now telling the PAP MPs to stand up and speak for what they truly feel and want for the people. But there is a limit to this when the Whip is enforced. So how? Can the MPs go against the Whip?

So very likely the MPs can only speak out violently if the Whip is lifted. And when they do, Cheng Bock will be watching to see who is speaking out of their conscience or just doing it for show.

Then what if Cheng Bock knows the real McCoy versus the MediaCorp variety? Is he going to call them up for a lecture? Or is he going to write them a nasty letter to tell not to bluff? Or is Cheng Bock going to build up a new base for the next GE, hand picking those that he thinks will be of like minds, as an alternative party?

While Cheng Bock is watching, everyone else will also be watching.

No show at Raffles Place

Everyone seems to be disappointed at the no show for Occupy Raffles Place on Saturday. Some conveniently put the blame on the police for warning people not to participate or risk breaking the law for illegal assembly. Should it be a surprise at all? I knew from the very moment when the call of Occupy Raffles Place came out that there will be no such protest. And there is no need for me to bring my camera to cover the event. And I save $2 on mrt fare too.

Corporate greed and corruption is indeed a very serious problem in Europe and America. Everyone in the financial centres and those in govts are just as corrupt and greedy. That is why the Americans and Europeans are angry. And that is why their economies are facing the worst financial crisis today. They are expecting a revolution to cleanse the corporate world and their govts of greed.

Take a look at paradise. Take a deep breath and look again. Everything is just fine. Where got financial crisis? The economy is booming and everyone is so happy making millions and buying properties and cars even if they are the most expensive items in the world. When the economy is so well managed, when there is no corporate greed or corruption, there is obviously no need to Occupy Raffles Place. So Raffles Place was like a cemetery on Saturday, not even a devil dared to be there.

Our corporations are run by the most honest and highly moral people money can buy. They may be a bit expensive to be bought, but they are definitely honest and would not be affected by the corporate greed and corruption in corporate America and Europe. They earn their millions fairly and squarely, and honestly. They are worth every cent they are being paid.

So why should people be disturbed by the no show for Occupy Raffles Place? This is uniquely Singapore, the only paradise on earth that is not tainted by corporate greed and corruption. The protestors can go and occupy anywhere else, but it will be meaningless to Occupy Raffles Place. It is the only sensible thing to do.

I will die if I retire

More and more people are claiming that they will die if they retire. Some were very rich and some were very poor. For the very poor, I know they will surely die for many reasons. For the very rich I know they will not die for many reasons.

Sunday is always a good time to talk cock and sing song. I have never been doing this for quite some time. So this morning I shall indulge in some talk cock amusement. As I was saying earlier, the poor losers will surely die if they retire. Many just got not more than $200 in their wallets to last them a week. Many may not have the money to pay for the medical bills. Many will have family commitments, children in school, dependents that need them to foot the bill. If they retire, their dependents will kill them or they will kill themselves out of embarrassment if they cannot fulfil their family responsibilities.

But why should the super rich and very clever people talk about dying if they retire? I am very sure no one has ever died because of retirement. I am also very sure that the academics and medical experts would not have any conclusive proof that people can die because they got retired.

So what’s the beef? My intuition is that they would not die at all. Just go and place a big bet with them, whether it is 1 year, 3 year or 5year after retirement, that they will live on. I think it is more like dying, dying that the million dollar paycheck is gone, dying that all the big titles is gone, dying that the glamour and power and the cronies fawning on them too will be gone. Psychologically these are the more real reasons for people who fear retirement.

The rich and clever people are so rich and so clever that they have so many wonderful ways to amuse themselves if they do get retired or lose their jobs. They could let their imagination runs wild with their talents and money, and have a wild wild time if they so retire. So what I think is another reason for them to say that they will die is that they are born just to work. They have no ability or unable to comprehend that there is a wonderful life waiting for them to indulge in should they retire. It must be a mental block. Surely if you tell them to work without a gaji they will quickly disappear before you could complete your sentence. I have yet to see any of these clever people work for free after retirement. I think they will not accept any appointments as chairman or director, or even the presidency if there is no money to take.

There is plenty of evidence that only the losers will work for free. Many will volunteer their time in social services, helping other losers, and even make great suggestions on how to make this country a better place, for free. The clever ones would ask how much if they have to lift a little finger for anything.

I think I have enough of talking cock for today. If Bill Gates will to say that he can eat and fart at the same time, like it is a damn big deal, many clever people will sure want to make the same claim all because Bill made the claim.

Empty your wallet

The financial health of the young working class Singaporeans starts when they enrolled into tertiary education. For the more fortunate there is the PM scholarship, or papa mama scholarship to fall back on. The bills for their education will be picked up by papa and mama. For the less fortunate, they will have to take an education loan or to slog it out with some part time jobs to get by.

On completion of their first degree education, presumably they have taken an education loan, it is time to pay back. The PM scholarship recipients may also think of repaying their papa and mama. This will take out some of their exposable incomes which could have gone to their savings.

How long does it take for the young to save $100k or $200k for their deposits for their first flat? 5 to 8 years will be quite a reasonable time to save that first $100k/$200k for a tertiary educated young couple. And this sum will be clean off from their savings the moment they make that big decision, to get married and buy that property, public or private.

And for the next 30 years, the bulk of their savings will go to that property with little savings left. They would be quite lucky if they have enough money to meet the minimum sum requirements in the CPF and the Medisave. During this time, the family will be growing, with babies, and the need to pay for that precious car that a growing family needs at an average of $100k or $300k for 3 cars in 30 years. Come to think of it, the car is more expensive than a flat. A $400k will be useful for 99 years or costs $40k every 10 years, assuming there is zero value at 99 years. A cheap working man’s car is going to cost $100k every 10 year.

How much savings will a young couple starting out life today in 30 years time? By the time they hit the CPF withdrawal age, they will be lucky if there is some extra above the two minimum sum schemes to take out some money to spend. And this is only possible if there is no major health problem and admission to hospital which would likely empty everything in the Medisave and still not enough, and needing cash top ups. Hopefully there will be some cash savings available, not forgetting the PM scholarships they have to provide for their children.

What happens, for the fortunate few, everything will be just enough, everything just affordable, and the wallet nicely empty by the time they have to call it a day.

Occupy Raffles Place

The Occupy Wall Street Movement is spreading across America and has reached Europe and Asia as well. We have Occupy London and now Korea, Malaysia, the Phillipines, Thailand on 15 Oct. Some Singaporeans are also talking about joining the Movement with Occupy Raffles Place this Saturday at 2.00pm. A facebook entry has been set up but meeting with lukewarm response. The police too have also taken to warn any would be demonstrators that it is illegal to do so except maybe Occupy HongLim.

The Movement started in New York where the protestors calling themselves the 99% are denouncing the greed in the finance industry, particularly the bankers and the Stock Exchange. They are saying that the huge income gap is unacceptable and the greed in Wall Street must be stopped.

How would this take shape here where the huge income gap is sung like a song, that it is perfectly a normal state of affair? From the look of it, it is going to be a non event. The people are happy with the big income gap and the greed all over as many are beneficiaries to the prosperity in every corner of the island. Everyone is feeling richer by the minutes while the income gap keeps widening. It is a good thing by the way.

Maybe they should change the tag into Celebrate Raffles Place. The turn out could be better and the festive mood may put the police more at ease.

Yes, yes. Not Occupy Raffles Place. Celebrate Raffles Place by the 99% of which many are millionaires also. They can also shout, Corporate Greed Is Good.

Sell Treasuries, Buy Corporates

October 12th, 2011
By David Goldman
In a new Macrostrategy report, we recommend selling Treasuries and buying lower-rated corporates.

The above extract from David Goldman is quite interesting. With a little twist, it can be turned into a strategy for SWFs. Sell core assets and buy fire sales assets. This means that one should sell all core assets, land, landed properties, and blue chip companies, for very good prices as they are really valued assets. With the money, go out to the world and buy lelong(junk) assets or lower rated corporate assets at fire sale prices. By selling a smaller number of core assets or blue chip assets, one can buy thousands of failed corporate assets and turn them around. Then can make billions and billions of profits.

I think it is a terrifying strategy, a brilliant strategy. Between a genius and an idiot, is only a fine line. I call it terrifying because if successful, the profits can be enormous. But failure rate is so high that it is terrifying. Only the fools or genius will ever think of applying such a strategy. It is like throwing good money after bad money. But if it is OPM, other people’s money, it is worth a gamble. After all one can lose everything, without losing one’s own pants. But if successful, one can claim all the credits and demand a pot of gold.

Govt decided to sell less landed properties to PRs

Shanmugam said he would be surprised if approvals for sale of landed properties to PRs will be more than 50% of last year. The criteria for approval will be more stringent. About 230 applications were received yearly and about 60% or 140 were approved. So likely the number of approvals will still be around 100 a year.

According to the MD of RealStar Premier Group, the company sold an average of 10 to 20 landed properties a month to PRs. Using an average of 15 per month, RealStar alone would have sold 180 such properties a year. And RealStar is only one of the hundreds of real estate companies.

Assuming that RealStar is the biggest real estate company, and there are only 100 real estate companies here and each sells only 10 such properties a year, the total landed properties sold will be more than 1000 units. I think my assumptions and extrapolation are grossly flawed.

The total number of applications over the last 3 years averaged only 230. How can there be so many sales? Beats me. Nowadays my arithmetic is pretty bad. Blame it on my arithmetic sir.

I appreciate Melissa Tan’s ingenuity in her article on this subject today.

The best fighting soldiers

The British attacked China with a few wooden boats armed with cannons and won. A legion of 20,000 men from Europe calling themselves representatives of the League of Nation, ransacked the Summer Palace and burnt it to the ground. The Qing Empire was in shambles and China, together with all Chinese, bowed their heads in shame. It led to nearly 150 years of humiliation by the world. Even Chinese became ashamed of being Chinese or anything Chinese. They lost all self respect and confidence as a people, and nearly lost their country.

In the 150 years of shame, the Chinese diaspora started to settle all over the world as coolies, labourers and the luckier ones as cooks and laundrymen and farmers. There was no self respecting Chinaman to speak off. They were bullied, discriminated and abused, even killed everywhere they went. Many got killed in Indonesia and Malaysia, the Phillipines, Australia, Africa and the USA, for just being Chinese.

The thousand years of civilization was reduced to dust, nothing worthy to talk about. And in times of adversities, many Chinese stooped to work with their enemies, became traitors of their country and people, for the simple selfish reason of survival. In China, in Southeast Asia, the Chinese betrayed Chinese and helped the Japanese to kill many more Chinese. They became a hopeless race that were only good to be kicked around. No wonder many Chinese today still despise their Chineseness and anything Chinese.

There were many mean and shameful Chinese all over the world. For every such despicable Chinese, there were many that would rise and willing to fight and sacrifice their lives for their motherland. The revolutionaries that overthrew the decadent Qing Dynasty were Chinese, not that different from the shameless Chinese elsewhere. Hundreds of thousands died in the course of rebuilding their lost and broken country, in the name of martyrdom, patriotism and nation before self. Yes, there were many more patriotic Chinese out there, in the past and today.

The greatness of the Chinese people was lost in an era of shame and poverty. All that was written about the Chinese outside China were a helpless and hopeless people, good for nothing, shameful in everything. No one has any good impression of the inscrutable Chinese, no class, no personality and no money.

1911 was the formation of the Republic of China. 1949 Mao Tse Tung took over an impoverished China torn to pieces by warfare and foreign aggression and lootings. For once, a new China was emerging, a new united China standing up on its feet to face a brave new world. No one took them seriously, a communist country that was bankrupt in everyway, with no industry, except the will of a defeated and broken people.

1950, exactly a year after People’s Republic of China was formed, China entered the Korean War. The ferocious and hungry North Koreans were a force to be reckoned with. They drove the South Koreans nearly into the sea in Pusan. They could have reunited the Koreas into a united country. Then the world’s biggest military power intervened with the landing at Inchon, cutting the North Korean forces into two. The mighty Americans, with superiority in all arms, air force, navy and army, were too powerful for the North Korean foot soldiers. With little air cover and heavy weapons or tanks, the North Koreans were beaten back to the north. General MacArthur was victorious and continued in pursuit, crossing the 38th parallel and driving the North Korean soldiers across the Yalu River into Chinese territory. He paused and threatened to cross into China. The poor Communist China was in a dilemma. They had hardly stood on their feet, with not much military hardware except a bunch of peasant soldiers and small arms to face the might of the USA. The only thing they could depend on was the will of their fighting men, the same fighting men that fought the great Japanese Army who were supported by fighter bombers from the air and tanks and big artilleries on the ground, and a naval fleet that destroyed the American Pacific Fleet in Pearl Harbour.

The Chinese soldiers fought the Japanese in many battles with small arms, rifles, machine guns, pistols, hand grenades, many obsolete, and broad knives. They could not defeat the Japanese, but neither the Japanese could defeat them, amidst heavy casualties on the Chinese side. The Chinese soldiers never say die, but die they did, in hundreds of thousands. These were the faceless, fearless and patriotic soldiers that would give their lives for their country. They have their unspoken heroes. For every turncoat Chinese, there were thousands and thousands of patriotic Chinese willing to die for their motherland.

Now another battle was looming with the victor of the Second World War at their doorstep. All the latest military hardware was available to MacArthur and his highly trained and equipped forces. The Chinese did not even have an arms factory then. No war machines and highly dependent on the Soviet Union for every bullet and rifle it needed. It was an odd that no military commander would be pleased with. They were simply outgunned, out classed and could easily be out manoeuvred by the highly mobile and modern American forces at their front yard.

To make matter worst, General MacArthur was no decent school teacher. He was a military brat. And with all the superior arms and forces in his charge, he was eager to push into China to thrash the commies and the gooks. Victory was at his calling. It was a military mismatch.
His other half on the Chinese side was General Peng Te Huai, a war veteran of the Long March, who was conversant with fighting a conventional cum guerilla warfare with only foot soldiers. No air power, no air cover. No big guns, no tanks or big artillery pieces. He could only fight a basic infantry battle on the ground, with soldiers running all over the place. In today’s parlance, MacArthur must be telling himself that it was a piece of cake, a cake walk to glory. Defeating the poorly equipped peasant soldiers was like playing war games.

The Chinese could not accept the Americans occupying North Korea and it was a do or die situation. The American war machine had crossed the 38th parallel against the warning of Zhou En Lai. They decided to intervene and take on the Americans. They ambushed the American division after division and sent them scurrying south of the 38th parallel. They exchanged the lives of their soldiers for American bullets. The Chinese soldiers fell like dominoes, but they kept charging. The Americans fired until their gun barrels melted by the heat of non stop continuous firing. The waves and waves of fearless peasant soldiers were too much for the Americans and they fled. They were driven south by the poorly equipped peasant soldiers with rifles and small arms and no air cover. The Americans were forced to retreat 500 km from the Yalu River back to where they started south of the 38th parallel. A stalemate and truce was called till today at the same position now known as the DMZ.

The Chinese soldiers battled the seasoned and well equipped first class American soldiers to a stalemate after chasing them out of North Korea. Their ability to send in 700,000 foot soldiers all the way from China deep into Korea without being detected was legendary. The soldiers travelled on foot and bicycles, and only by night. Their swift mobility and stealth allowed them to ambush Americans soldiers of division strength, not companies or battalions. MacArthur was caught sleeping until the PLA, then called People’s Voluntary Army, PVA, pounced onto them. He thought they were still in China. It also spoke highly of their intelligence gathering, without air recon, they could pin point all the American forces and took them out at will.

The Korean War was the first major military victory of the peasant soldiers of modern China. The war was fought at a time when Communist China was at its weakest while America was at its peak of military power, coming out as the main victor of the Second World War. And of course the Americans claimed they had won. That would be the American and western version of the story of victory over Chinese peasant soldiers. They will repeatedly tell the world and their allies that they pushed back the Chinese to the 38th parallel. They would not tell anyone that they were pushed down from the Yalu River to below the 38th parallel by the peasant soldiers. Neither will they tell the world that the Chinese troops were ordered to hold their positions at the 38th parallel which was and still is the demarcation line between the two Koreas. It was an internationally agreed line and sanctioned by the UN. It was the line that MacArthur was told not to breach. He did and get delirious only to be knocked back to sanity by the peasant soldiers of the PLA.

This war was also significant in the military sense as it was conventional warfare fought with guerilla tactics on the side of the Chinese. It was two huge armed forces of many divisions fighting in the battle field. Yes, designations of armies versus armies. Every arm and department of a combined armed force in battle was tested. Just to illustrate the scale of the war, the US 8th Army was attacked on 3 fronts, the US 7th Infantry Division with 30,000 men were encircled and had to fight their way out and suffered 15,000 casualties. Then the Marines were attacked by six Chinese PVA divisions and forced to retreat.

The Sino India Border War was another conventional battle but of a much smaller scale, brigade or division strength. In 1962, a staunchly nationalistic Nehru was the Prime Minister of a revived independent India. After 100 years of British colonial rule and inheriting British military training and arms, and a British map claiming Chinese territories as Indian’s, Nehru saw India as a new power in the region. In the north was the poor communist state of China. Adventurism and ambition came to his head. He had no respect for the peasant soldiers of a poor commie country. He had in his arsenal, some of the best and most modern firearms from the British. The peasant soldiers were inconsequential, hungry and not well fed or well trained. His dreams of grandeur led to designs on more Chinese land for India. He was not contented with the Chinese territories that McMahon drew into the British map as part of India. He wanted more.

Indian soldiers were sent to the border and started to attack the Chinese border guards. He was successful initially as the element of surprise in a military battle was with him. He planned the attacks and was well prepared for it, with his brigades and logistics. Indian soldiers entered Chinese territories and claimed victories over the Chinese for several weeks. Nehru was jubilant. The whole of India was jubilant. They were beating the commie Chinese soldiers. Soon India would be bigger with more Chinese land conquered and a respected big regional power.

Nehru took no heed to the warnings from Beijing. He kept on his attacks. In the meantime the Chinese were bringing in reinforcement and planning their counter attacks to rid the invaders. The easy victories got into Nehru’s head. He under estimated the fighting abilities of the peasant soldiers. When the Chinese launched the counter offensive, they were swift and deadly. Indian forces were cut off and destroyed. The rest just fled and fled, leaving behind their weapons and everything to the Chinese. There was no will to fight. The Chinese peasant soldiers drove all the way to the outskirt of New Delhi without resistance. It was like a hot knife cutting through butter.

The Chinese soldiers could easily march into New Delhi. But they unilateral declared a halt to their advances and withdrew. The Chinese could have taken back all the territories seized by the British there and then. But they told the Indian Govt that they would not take back their territories by military means. They would negotiate for their return by diplomacy. Then they returned all the military weapons captured, left behind by the fleeing Indian soldiers. The POWs were also returned, after being treated for their wounds and fed. They were not subjected to any torture or interrogations for military intelligence, except for their names and units. The Chinese treated them like friendly forces injured in a joint war game. No hostility or abuses.

The war tally, nearly 5000 Indian soldiers killed, 4000 captured and nearly 2000 wounded. On the Chinese side, 700 were killed and nearly 2000 wounded. None were taken as POWs.

All the Indian POWs and captured weapons were returned to the Indian govt without extracting any terms or conditions. It was Chinese diplomacy at its best. The Indians and the world were shocked by the event and started wild speculations trying to explain the Chinese conduct of the whole engagement. Of course they claimed that the Chinese were the provocators and the cause of the border war, and were taught a lesson by the Indians. And that the Chinese were driven out of India.

The Sino Indian Border War was the second military victory against a foreign power chalked up by the peasant foot soldiers of modern China, the PLA. It was a bitter lesson that the Indians learnt and that kept them away from more mischief in the Sino Indian border all these years. Lately there are signs that they have forgotten this lesson and are itching to test the peasant soldiers once again.

After proving their fighting capabilities, the world still looked down on the peasant soldiers. They were not very well equipped, not very well uniformed, not refined, just like peasants, unlike the sparkling tailored uniforms of the West, and those of the Indians. But they have proven twice to be a mean fighting machine.

Then came 1979. After their victory against the most powerful nation in the world, the Vietnamese thought they were invincible. They repaid gratitude to China for supporting them for 30 years against the Americans with several border incursions into China. The Vietnamese were once a part of the Qing Empire but ceded to the French when the Qing lost a war with them. There were good reasons to want to be tough and ungrateful to their former ally. Like the Sino Indian border incursions, the Vietnamese were victorious in their surprise attacks and did not take the Chinese warning seriously. They had defeated the mighty Americans and what was a poor commie peasant army? They must have believed that they could lick the Chinese army like the way they kicked the Americans out of Vietnam.

The Vietnam War was not conventional warfare. It was guerilla warfare, a war of attrition. The Vietnamese outlasted the Americans. There were some battles but of much smaller scales. The American troops did not meet force to force with the Vietnamese. During the dying days, the Americans were just pulling out and the Vietnamese moving in.

The biggest conventional battle fought in Vietnam was Dien Bien Phu in 1954. There the Viet Minh fought the French in a main battle field and won convincingly.

When the Chinese launched their counter attacks in 1979, it was a repeat of the Sino Indian border exercise. They came with a cane and whipped the behinds of the Vietnamese and sent them running back to Hanoi. Yes, it was conventional warfare. They defeated the Vietnamese soldiers in the battle field. The Chinese peasant army could march into Hanoi if they wanted to. But to show their non aggressive intent, they stopped and withdrew like before. The Chinese not only wanted to teach the Vietnamese a lesson not to be ungrateful, and also not to think too highly of themselves, it was also a message to the world that it harboured no territorial designs on its neighbours.

The Americans fought every war and kept their soldiers behind, in Europe, in Japan, in South Korea, unfortunately they were driven out of Vietnam. The Americans are also in the Middle East, Iraq, Afghanistan, Pakistan, and now Libya.

But the world and some silly Asians, including some Chinese, chose not to believe the Chinese peaceful rise. The Chinese had fought in Korea, India and Vietnam, because the enemies came to them, and then withdrew after defeating the enemies. If these were not enough to show their non expansionist and not aggressive policies, what else would the world want before they will acknowledge that China is a peaceful country?

Of course the Western media put the blame on China in all three wars, as the aggressor and also the loser. The Chinese lost to the Americans in Korea, driven out by India, and were taught a lesson by the Vietnamese. The fact is that the arrogant Vietnamese have since become a very peaceful neighbor. No more adverturism. So is India.

What the three wars said, or did not say, is that the Chinese peasant soldiers had fought three wars, against the Americans and supplemented by its Allies under the guise of UN, which meant that the PLA fought the combined forces of at least 15 countries, then the Indians and the mighty Vietnamese that defeated the mightier Americans, and came out victorious. In the war against the Americans and its Allies, the odds in terms of technology and hardware were stacked against the Chinese, and still they came out on top.

The Chinese people should be proud of the way their peasant soldiers conducted themselves in battle. They were not pushovers. And today, with the full compliments of an air force, navy and army and supporting arms, equipped with the best weapons and communication systems, they now have their own armed industries and are self reliance in weapons production, the peasant soldiers are more than the peasant soldiers of the past. The PLA is now well equipped, well fed, well armed and well uniformed and can take on any military power anywhere, any time. This is the new Chinese peasant soldier, a soldier of the 21th Century with a record of 3 victories against enemies that were better equipped, with better weapons and superior firepower, and with better credentials. What US marines? They will eat them for breakfast. Don’t trifle with the PLA. They can fight conventional war as well.

Video: http://www.youtube.com/watch?v=XgfFpojG4GM&feature=topics The crushing moment - part one.

PS. This article is written to commemorate the new China’s 60 years of struggle to reconstruct a country, to rebuild a nation, to redeem the pride and dignity of a people, to bring economic prosperity to its people, to restore faith and confidence in its people, to be a respected nation and an equal among all nations. As a Singaporean of Chinese origin, I wish them well.

Where would the next goal post be placed?

At age 55, the CPF holders were promised that they could have their money back. The goal posts had since shifted, to 62 years, and will continue to 65 and maybe later. The CPF holders got to thank medical science for keeping them alive, theoretically till 90 or 100 years. So the simple logic is that they must have money in the CPF till 100 years. Bloody hell, if anyone is employed or self employed at 100 years old, he would still have to contribute to his CPF or Medisave!

Can we expect the next goal posts be shifted to 100 years? Possibly, but then you can call yourself lucky. I think the next goal posts could be further into the future.

Many CPF holders would die with plenty of money in their CPF, through the minimum sum and Medisave schemes. And this money will go to their beneficiaries. One of the presumed reasons why the goal posts were shifted to 55 was that at that point in time, there may not be enough money to pay out when too many are taking their money out at the same time. So the pay out date needed to be shifted, delayed. The official position is not true as the reserves are there as proof of money. If anyone still does not believe this is so, wait for the announcement for the next multi billion dollar purchase or the next multi billion dollar loss. No one will blink an eye, because money is plentiful in our reservers.

Rightly or wrongly, some believe that other schemes were thrown in to reduce the damage of a huge withdrawal at 55. Higher HDB prices, CPF Life, minimum sums, Medisave, etc etc, in a way added to reduce the damage should the money be returned to honour the promised date.
But would it work. At every point in time, unless the investments are bearing fruit with a handsome return, there will not be enough money when the date to payout is reached. And how could there be a handsome return when the cost of keeping 400 heads is as high as $8b? I hope this is a misprint, and not true.

If age 62 to pay out is no longer manageable, let’s push it to 65 and see whether there will be enough available. If not, 70 could be the next red letter day.

The other big red letter day is when all the oldies start to fall and their minimum sums in both the retirement and Medisave accounts are due for pay out. That day can come pretty soon as many oldies are past 60s. And if it comes, and not enough money to pay back, do not be surprised, a new ruling may come forth.

Let me try to guess. Just a guess, call it a wild guess, the sum left in the CPF of deceased members could be transferred to the special accounts of the beneficiaries. Ouch! No cash out.

If this is done, how long more will the money be pay back? The answer is Never, as it will float from one member’s Medisave account to the next beneficiary. Oh dear, I may have made a very bad slip and this idea could possibly be picked up by some brilliant kids.

PS. I wrote this on 13 Sep and delayed in posting. I am now told that this is already in practice. Really? My god, if this is true, then I am getting to think like supertalents. All this is just a joke, cannot be true.

I hate Matilah Singapura

I think he is still reading this blog. Whenever I claimed that the money in my CPF was my money he would pour cold water on my head and pointedly told me that it was govt tax. He would add that it was money down the drain.

I refused to believe him. But as everyday passes, it is proving him more right than my fat hope that I will get to see all my savings back. They are scheming with more schemes to make sure that our CPF will last for as long as we live. Now how long would that be? And if that is long long long, then those jokers that surrender their ICs before 60s or anytime earlier will see a lot of money left behind.

I still want to think that I am right, that I will have all my money back at my own time and use it to do what I want. Maybe got to wait till 2016. Definitely I would not want to wait to spend my money when I am 120 years old. Maybe that is what many Singaporeans want and will keep the system going forever.

It is my money, our money. Matilah must be proven wrong. And only through our votes can this be changed, with a new govt to overturn things that we are not happy with, especially our CPF savings.

When policies were enlightened

There was a time when govt policies were enlightened, or were they policies initiated by enlightened men? Housing was a big issue when the colonial govt did not build enough for the people. Families were squeezed into little cubicles, and made do with the squalid conditions, sharing kitchens and toilets with neighbours and everyone.

Housing became a top priority of the govt, to provide every citizen with a roof over their heads, a stake in the country. The govt went further, to provide housing quarters for their employees in the civil service and the uniformed group. Then to encourage home ownership and loyalty to the service/country, priority schemes were launched to help uniform officers to own their HDB flats. Normanton Estate was specially built to house SAF officers as an employment benefit, as an important arm of nation building and the defenders of the country. The uniformed groups were seen as vital to nation building and the security of the country.

Somewhere along the way policies changed. No pension for armed services and no more housing priorities. They were treated just like any organization and will have to bid with everyone for public housing. Are the uniformed personnel less important today than the past? Is housing no longer that important to the people than the past? When prices were really reasonable, and when one could walk into HDB and get a flat within months, everything was fine.

Somewhere down the road, things changed, and policies changed. The new policies must be better and more enlightened, by more talented men. And the people must be happier.

Another piece of frightening news?

The people may find this piece of news frightening, but to the govt it is good news. The MOM is going to help the oldies again. Dunno why, whenever the govt says it wants to help the people, I got a very strange and uncomfortable feeling. This time the MOM is thinking of reviewing CPF rates for the above 50 uncles and aunties, the vulnerable group that have found themselves having not enough savings after a life time of savings. Dunno why, and nobody knows why. They must have squandered them away in wasteful spending.

So here comes the govt to help them, and very likely to raise their CPF and employers contributions. And the magical scheme called CPF Life will be relooked into to ensure that the annuity will be paid for life. The insurance men are smiling. Tell you what, I don’t like their smile. The longer the payout, or the more the payout, the more will be the pay in. And the longer annuity is to last, the longer it will stay in. As simple as that. If they plan the annuity to last till 120 years, it means whatever money, a big portion will stay in till 120 years. Simply ingenious and logical.

And I can already see how good the scheme is. And it is so good that it will be made compulsory for sure. Our reserves are going to get another boost and the country will be richer, and have more money to invest in big big deals. We can buy up the world.

This is going to be another win win formula, good for oldies, good for employers and good for the national reserves. It can’t be that frightening right?

The people are so lucky. Now they can live till 120 years or more, forever, and there will be more to take.

When a govt discriminates against its own people

Tony Tan talked about an all inclusive society and no one will be left out. Then why are citizens being discriminated by incompetence or bad policies? The citizens who are being barred from buying public flats because of some frivolous reasons, especially earning higher income is a glaring example of bad policies. In the first place, all the young people started with incomes within the HDB ceilings and exceeded only because they could not get a flat earlier. Over the years their incomes are bound to go up. Should not the criteria of income measure be at the time of application when they first started to work?

Then the stupid excuse that they will deprive the lower income buyers from getting a flat, or added to the demand. What kind of bull is that? There is no shortage of land to build public flats. In fact the govt is offering a lot of land to build private properties to be sold to foreigners.
Now, what is the real problem? The truth is that the govt is not building enough or had slowed down the building programme and created the shortage by its own bad policies. It is the artificially created lack of supply that is the problem. So who got blame and who had to suffer for such bad policies or bad planning?

The very own citizens are paying for it. And at the same time there are plenty of flats for new citizens, who are flooding into the market without anyone complaining that they are causing the demand to balloon and resulting in higher market prices. And the affected citizens suffered in silence with the govt refusing to acknowledge its own mistakes. We have many citizens who have done their NS and cannot afford to buy private properties and cannot buy public flats. How can such a situation be allowed to exist in an all inclusive society where no one will be left out?

It is govt logic versus people’s logic, or supertalent logic versus no talent logic. Of course supertalent or govt logic wins, and it is the right logic. This is simply brilliant. Create a supply problem and blame it on the young buyers who happened to earn a little bit more. Just pass the buck to them and force them to buy private. They die their pasar. So wicked.

Daylight robbery

The robbing of motorists continues. We have not heard of the study by CASE on why motor insurance is going up and up like housing prices, despite motorists with clean no claim records and maxing their NCBs. Looks like it is thrown into the waste paper basket oredy. No political value and not worth looking into.

Today the oldies motorists are crying foul. They are going to be slammed with higher motor insurance premium because of their age. Did they say senior citizens should be treated with some respect? What about robbing them of more money? Why not, they are quite helpless. Just tell them they are old and more prone to accidents and it is only logical to make them pay more. A forum writer asked in his letter to the ST for statistical proof that oldies are more accident prone. I think he is asking for it. Statistics is the easiest instrument to bluff people with a little bit of juggling here and there.

Another intelligent reply from another forum letter by a William Tay caught my eye. He said these oldies can afford to drive expensive cars, why are they complaining about a few thousands more in insurance premiums? I love the logic. All those who can afford to buy big cars must pay more premiums. And oldies who can afford to buy big cars must pay lagi more because the cars are big and they are oldies. I second that with all my heart. I am going to give up my car and let the rich oldies go and pay and pay. It will be good for the GDP I supposed.

May I add a few more brilliant recommendations. Make oldies pay motor insurance according to their age, like 65 pays $6,500, 70 pays $7,000 or use the age as a multiplier. I really love the way I think. Maybe the motor insurance company can adopt my suggestion and allow me a free insurance for life. I am so brilliant.

Canadian govt going bust soon

When I read a letter by an ex Singaporean, a Colombo Plan scholar who migrated there and living his retirement in that bitter cold country, I knew something must be wrong. Wong Thye, the ex Singaporean, is now 64 and getting about C$1000 per month of living allowances from the Canadian govt. His wife is also getting the same amount plus other perks, like C$36 free public transport fare for a year, and they are living their retirement in a frugal budget. Their house and car are paid for. And they live off the land, fishing, planting some vegetables, and having fellowship with friends. Quite pathetic. But no fear of big hospitalization bill that will bankrupt them or having to rent out their homes to share with strangers, or worst, to sell it for retirement money.

Compare to the Singaporeans in their 60s, eagerly waiting to go for further training to get a job, to be independent and living with dignity, maybe working till death, now which is better? Not forgetting that life begins at 60, to catch the second wind. And Singaporeans can look forward to a fatter retirement fund in his CPF, don’t expect govt charity, when he retires at 70 or 80. And making sure there is enough savings for the next hospital bill. I think a Singapore at 80 could enjoy the pathetic retirement lifestyle of Wong Thye. And I say the Canadian Govt is asking for trouble.

The Canadian govt has been feeding their retirees from public fund for so many years and must be running a huge budget deficit. And their leaders are definitely not that talented as ours given the small salary they are being paid. How could they manage to pay their oldies from the public coffers for so long while our Govt may go bankrupt if they do so here? And our Govt are so worried that our oldies will have not enough in their CPF savings and are introducing new schemes for the oldies to continue to work, and maybe to raise employer’s CPF contribution to help them.

I think our system must be better, at least the oldies got the opportunity to work till maybe 80, and live with dignity. But I will love to be in Wong Thye’s shoe, having a more relax lifestyle, and still got a house and no need to think of selling it or renting some rooms to earn some money for retirement. And still got a cheap car to drive around, and go for holiday. Now what kind of lifestyle is that, not working and wasting their time away? Look at the quality of our oldies here, fit as a fiddle, never mind if it is cleaning tables or washing plates. It is a very useful life, every moment and second is productive, and independent. Full of dignity and self respect.

Shit, I am going to trade this great dignity and respect and go waste my time in Canada, with no respect never mind, but with a life, a lazy life, and not having to work again. Some may think this is silly thought, but I still think life is more than just working to death and with a saving scheme that is never enough, and wondering when would the savings go kaput on hospitalization bill. And forget about owning a car.

And where got energy to catch the second wind? Walk also panting. For those who are mesmerised by the thrills of working till 80 or till they drop dead, I say, good luck, daffy. So pathetic that at an age when one is supposed to have a little bit of wisdom, one can still be easily conned.

Parliament opening today

After the May general election, nearly half a year gone by without the convening of Parliament. Is this the new normal for the Parliament to sit after a new govt is elected? The newly elected MPs will finally have a chance to warm the seats in Parliament, to be seen and to be heard in Parliament. How did they feel being kept out of Parliament for so long? Were they short changed, or the people shortchanged?

The election went by as if it was a non event. The only thing that the new MPs did was getting to know the people and perhaps meet them in Meet The People session which is not really an official function of the MPs. The key roles of MPs must be in Parliament, legislating laws and debating on national issues and the well being of the country.

The new MPs will have a chance to say their piece tonight. And even before they say anything, some jokers already presumed that the opposition MPs will be there to talk nonsense, just to make noise in Parliament, and they would rather such MPs not to represent them. There are also many people who did not want the majority of the MPs to represent them in Parliament. There are 40% of such people who just want other MPs to represent them, not those who will be in Parliament. Do they also think that those MPs they did not want to represent them will be talking nonsense as well, or not speaking for their interests?

Some views wanted opposition MPs to be more like the ruling party MPs, to be part of a symphony. For that, they might as well join the ruling party and be part of the ruling party, and to sing the same tune as ruling party MPs.

Then there are calls from the ruling party MPs saying that they must behave and play the role of opposition MPs, to be more critical of govt policies.

So what? People want opposition MPs to be ruling party MPs and ruling party MPs want to act more like opposition MPs. Sounds like LPPL to me.

A stake in the country

Housing was a key factor to give the people a stake in the country in the early days of our nation building. When the people have a home, a stake, ie a HDB flat, there is something to fight and defend for. There was then a reason for National Service. It is a tangible asset that Singaporeans were told that is worth defending for even to the present.

Today, many Singaporeans who have served NS are told that they cannot buy HDB flats for one reason or another. After serving and sacrificing for the country in donning military uniforms, trained to fight and defend his land and his home, he is told that he cannot buy a HDB flat.

This is sounding comical. NS men to defend a country he has no stake in. Maybe what they said is true. We are still not a nation and nothing worth defending, particularly for those without a stake in his country. And the inequality becomes more ridiculous when new citizens and PRs are allowed to buy a stake in the country, a HDB flat, without serving NS, without pledging to fight and defend this country with their lives. All they need to do, maybe to be good in their civilian professions, which some equated them as national service. Even hawkers and taxi drivers must be doing national service, serving the people.

And those NS men deprived of buying a public flat will still have to defend this country and the foreigners and new citizens and their assets. This is uniquely Singapore in its most uniquely way.

Occupy Wall Street gaining momentum

The power of technology is sweeping through America in a most unexpected way. The home of high tech and innovation has been exploiting technology and developing technology in changing the way of life of human beans everywhere. In many ways, technology has improved the way information and communication has never been before. Lifestyle also changes with Ipad, Iphone technology, thanks to Steve Jobs.

While many improvements in the way of life have been taken for granted in the developed countries, technology saw its biggest impact in the bringing down of dictators in countries that have not really embraced technology in a big way. The falling of several kingpins in northern Africa, now famously known as the Arab Spring is a good example.

Now this Spring is arriving in the streets of America, in most of the major cities, where inequalities and injustice, greed and corruption are taken by horns when Congress refused to act or slept with the perpetrators of greed and corporate crimes. The American people have finally taken onto technology for the good of the ordinary Americans against the crooks in high places, especially Wall Street.

The greed in Wall Street knows no bound and are concealed or blatantly ignored by the congressmen and senators. Only the bringing down of Wall Street can the cancerous growth of greed in America and the financial world be arrested. Europeans and some American regulators are reported to be trying to clamp down on the new scourge in the stock markets, ie, computerized high speed trading. They have seen the ills, and some have been fined heavily. But they are very cautious as the literature and media are still promoting and praising the goodness of such tradings, ignoring or sweeping under the carpets the ills of high speed tradings. The benefits are superficial and actually non existence. The whole scheme is to clean up the market by the application of high technology against the innocent small traders without the advantage of sophisticated computers. The playing field is not level, which is criminal itself. But the big boys are ignoring the inequitable situation, to take advantage of the system against the ordinary guys.

Only when Wall Street is taken to task, taken down, can the stock markets of the world be returned to normalcy. And only the ordinary Americans can do it, with a little help from technology, the very technology that the crooks in Wall Street are using to rip them off. The American people need to bring the issue to their govt, who are just as guilty as the crooks in Wall Street. They are in cahoot, in a white collar crime that are hidden in the name of technology and expediency.

Deep down, everyone of the crooks know that they are cheating the people, the ordinary Americans in main street. They are laughing all the way to the banks, with the loot robbed from the ordinary guys. Bringing down Wall Street will set in motion a wave to bring down all the crooks in the international financial systems across the world.

Need to review reservist liabilities

There is a need to review the NS/reservist liabilities of NS men who did not enjoy the same privileges as other NS men or citizens. I am referring to those who are barred from applying for HDB flats for the reasons the HDB chose to bar them, singles, earning too much, above the ceiling imposed by HDB, unable to form a family unit to be eligible.

A roof is the basic necessity for anyone to stay in a place or country. And when owning a roof is so expensive, it is more essential to acquire that roof to live in peace. If the country thinks it can deprive any citizen from the right to own a public flat, should the citizen so deprived be spared the duties of reservist liabilities? After all, he is now a lesser citizen than other citizens. And he has no home to defend, They are homeless in their own country unless they cough out every single cent they have to buy expensive resale flats or private properties.

If the state thinks it is fair to treat its citizen unfairly, and still demands that the citizen be fully liable to defend the state, it will be better for such diminished citizens to pack up and emigrate. There is nothing to cherish and defend for when one is an unwanted child. Worst, when one has no roof over one’s head, and have to defend foreigners and citizens with a roof over their heads.

Why should they stay on, especially those that exceed the income ceiling? These are the young professionals who are highly qualified and would have no problem shifting out, and be wanted by other countries. The very basis of discriminating against such citizens from owning a public flat is simply silly. Just because they are earning more, they must pay more? They might as well move put, and no more reservist liabilities. Can come back as foreign talents some more.

Forcing the highly qualified and highly mobile professionals to think of leaving this country must be a very clever policy. They must really believe that this country is that fantastic that these young people would not risk going away. The truth is that these young people will exactly do what the govt thinks they would not do. But it is ok. They will be replaced by cheaper foreign talents, who will then be allowed to buy cheaper public flats which our own citizens are not allowed in the first place.

I am still unable to fathom the ingenuity of such a policy.

Catching the second wind

The sheer thought of the second wind is invigorating. Singaporeans are so lucky. This is a pleasure that only Singaporeans are blessed with. With life expectancy reaching 80 or 90, life begins again for Singaporeans at 60.

The first thing for those hitting the 6 big zeros, is to think about schooling, just like when they were 6. Go back to school to learn a skill, like the ITE. I am still wondering why old dogs need to learn new tricks. Nevermind, after a year or so, and armed with a new certificate, it is time to write the resume. The thought of going for the first job interview is exciting, adrenalin is gushing through my veins. Must get the white shirt nicely pressed.

In the meantime register to join a gym. Got to get the muscles toned and the skin taut. The face part is not a problem, just go for Botok. The eyes, ok, lasik surgery is so common now. In fact go for the full course, the hair, the denture, the manicure, it is a new life man.

Looking ahead, getting a new girl friend, courtship and perhaps marriage. And there could be little children running around too. And soon got to think of choosing the best primary school again for the little ones. May even have to do some voluntary work for a good primary school. These are the things that make one thinking, and feeling young once more.

With a fresh list of responsibilities and challenges, buying a flat, getting insurance and all those things, and preparing for retirement in another 20 years, things cannot be better. With the experience gained before, the second round can only be better.

I hope Boon Wan would let these first timers get their HDB flats. Yes first time seniors. Only after 60 can one qualify as a first timer once again.
Creak. What’s that noise? Uncle, you can have my seat. No thank you. I am 60 years young.

Ministerial jobs are too easy

This is the impression I had everytime I see more appointments being loaded onto the ministers. I thought being a minister, running a ministry, on top of all the MP and constituency matters would be enough to bog down a man for all his 24 hours. Apparently this is just a misperception from on ordinary bean. Either the jobs are simply too easy to handle, or the ministers have more than 24 hours a day and the biological constitutions to keep them going.

Chee Hean and Tharman have just been appointed as the Chairman and Deputy Chairman of the National Research Foundation(NRF), a high level organisation that gives grants and directions to the R&D in Singapore. These appointments are not for people who simply sign off millions or billions of dollars without thinking. They are serious appointments.

Both Chee Hean and Tharman are deputy Prime Ministers, and Chee Hean is also Coordinating Minister for National Security and Minister for Home Affairs. Tharman is also Minister for Finance and Manpower. I think Tharman is also in GIC or Temasek. Both must have several other very important portfolios to watch over.

They would not have become such supermen if they were just CEOs of some private sector companies. Now their super talents are fully tested, to work super fast, to grasp complicated matters in diverse ministries and issues they have no inkling of what they are before, to work super long hours. Being a minister sure can turn ordinary man into superman.

I have no doubt that a minister’s job is a serious job and a complicated job with huge responsibilities. And equally, all the other appointments they are holding are just as demanding on their intellect and time. Really admirable people, at least for their staminas. Walking from one ministry to the next is already quite energy absorbing. It is simply amazing how they can coop with their jobs and without shortchanging the people in time and details.

Wonder if they still have a life other than official duties, like a little quality time for the family?

The big scheme of things

The happenings in the stock markets around the world are happening because of the big scheme of things. Everyone is thinking damn bloody big, the biggest stock market, the biggest capitalization, the biggest computers, the biggest funds and the biggest war chests to manipulate the markets. No need to bother with slow and troublesome organic growth. Just MA, buy, acquire and expand.

When the heads are swelling so big, they forget the small stuff. There will not be any negativity in being too big too quick, think only the good stuff. The winds do not blow like before. It is like climatic change, big typhoons and big hurricanes. They move in and out, drive stocks up and down, only to clean up everything. Acts of God, no one to be blamed.

The falls in the world stock market are not just due the financial crisis, but aided by the big scheme of things. The big money and big machines were allowed to utilize their full advantage of size and speed. On paper, the machines are there to help generate liquidity, to bring down the cost of trading, for a more efficient system. No flaws. The machines are brought in to do social and charitable services at no cost.

In reality, the liquidity and lower cost of trading are there to facilitate the machines in their mopping up operations, cleaning up the whole market. By the time it hits, it is too late to run. Greed? Yes, with greed, all safeguards were down. And when the Americans are doing it, it must be good, it must be the way to go. It is where all the money of small investors will go.

All the big long term investors, including sovereign funds, must be bleeding profusely in the last few days.

No one wants to know why, or that they have allowed the system to turn into a monster, a Frankenstein, wrecking havoc at will, sanctioned by the authorities. There is nothing illegal, all part and parcel of a big and brilliant system, part of the game, part of the big scheme of things.

Very big, very good.

Ethnic pride ethnic shame

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?

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.