4/17/2012

The myth of a vibrant stock market

If we lower the commission rate there will be increase in trading volumes which will translate into more business and more commission. When there are more foreign funds operating and trading in our stock market, trading volume will increase, more vibrancy, oh I forgot, more oomph, and sure more business, and more commission. When there are more stocks, derivatives, structured products, there will be more business, more commissions, and dunno more what.

When our stock market is linked to more stock markets, the sky will fall down, money will fall into the laps of everyone as business across the world can be done here. We will be a one stop business and financial centre and all will be doing roaring business. All the stock brokers and broking houses and all the supporting staff will be looking towards a windfall, not a downfall.

And we are nearly there, and daily trading volume is in the billions. And commissions must also be in the millions at least. And stock prices must have shot through the roof with such vibrant trading activities. The phones must be ringing non stop and remisiers will have no time for lunch. Yes, extended trading hours, no lunch break, business will go up by at least 10%.

What is real? Many stocks are now penny stocks, quite a number are worth less than 1c and listed in the main board. And where is the commission? Where are the investors and traders? Who is doing all the trading? Machines, really? But never mind if the machine can generate more trading and more commissions. Good times are here.

We have done everything right according to the norms and practices and conditions of Wall Street. We even invested in the world’s fastest computer to facilitate greater trading volumes in micro seconds. The best fund managers are all here trading in our market. Everything is going to be right. Trust me. Now be patient and wait, just wait.

What the train is saying?

‘Stop, stop, help, help, I can’t go on anymore.’

No you can, our population is only 5m, and we will have a few more millions coming in.

‘No, no, really, can’t take anymore. I am not designed to take so many commuters.’

No you can. The trains in Tokyo can, so why can’t you? You are only half filled, running on half capacity.

‘Stop it, I say. All my parts are starting to fall off, can’t you see? I will run to a halt if you don’t stop adding more commuters to my load.’

Don’t worry lah, a few more wouldn’t kill you lah. Those car owners who have to give up their cars will come on board soon when they cannot afford the new COEs. Take a deep breath and carry on.

“Aaaaahhhhh…….’

‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’

‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’

‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’
……..

Lim Chong Yah’s model no productivity

The main bug bear to Lim Chong Yah’s shock therapy is productivity. It is logical that before one raises the wage of workers, one has to take into account many factors, competition, costs and of course productivity. How can anyone think of getting big pay hike without complimentary productivity? The raising of worker’s income is a very serious matter and much deeper understanding and thoughts need to be put into it unlike bloggers like Redbean who would post anything that appears in his mind and in 5 minutes it is in mysingaporenews. No depth, no analysis.

I think the good professor must have spent many hours seriously contemplating on the problem and the solutions. It is not a wild shot. It is definitely a serious proposition that is supported by economic and academic considerations. An economics professor of his stature does not spout nonsense like bloggers, and his proposition should at least be placed on the tables for serious discussions. Bloggers can freely criticize anything without thinking. But to criticize the works of an economics professor who has done deep thinking before coming out with his recommendations, due diligence is needed from anyone who would want to dispense his criticism to do justice to the professor. Be respectful. Put in some effort to understand what the professor was saying before shooting off the hip.

Productivity may be an important factor in raising wages. But in the real world, wages or salaries can be raised by using other factors and considerations other than productivity. One standard methodology is to do a market survey and compare job values. And jobs of similar values should be paid similar pay. So when one is paid more, the other also must be paid more. This method is silent on productivity. It just says since you got so much, I also want to be paid so much.

Another way is to peg one’s salary to other people’s salary. Just assume one’s job is more important than others. So if other people earn more, one’s income will also go up accordingly. No need to talk about productivity. Just wait for the more talented and enterprising to work harder, to earn more, then one just tag on the bandwagon. When other people earn more, one must also earn more. What’s the correlation? Beats me. Where is the element of productivity? Who cares?

Oh, productivity is meant only for workers. Workers and farmers really produce goods of value and thus their productivity is important. When one’s job does not produce anything of value except talking cock, there is no need for productivity? Productivity is irrelevant to raise pay in such cases.

4/16/2012

The big guns are trained at Lim Chong Yah

The big guns have been rolled out and lined up with their cross hairs on Lim Chong Yah. This is the first time that a biggie from the establishment is standing in front of the firing squad. Ngiam Tong Dow did his fair share of criticism and seemed to get away with it. In Lim Chong Yah’s case, looks like he is going to be burnt on the stake.

Given his credential as a renowned economics professor, his past appointments and contributions as Chairman of the NWC, and his connections, it is intriguing to see where the attacks are coming from. Would it turn into a free for all whereby anyone from the winning camp will start to take potshots at the professor? And if that happens, what is the story behind it?

Has the good professor fallen out of grace, going to fall out of grace, or is his shock therapy shocking people out of their comfort zones? This is an interesting development to watch. It will reveal a lot of unspoken truths as the plots thicken. It could also be another watershed, with more thinkers changing side and more stepping forward to call a spade a spade. And the final moment will come when the people realize that the mandate of heaven has been withdrawn and a regime change is on the way. By then the cards will all be opened and a new alignment of forces will take place as has been the case in history.

Two major dangers facing China

The West is greeting the widening of the trading band of the yuan with glee. They want more, they want the yuan to be traded freely like the greenbacks and other currencies. They also want the Chinese to open up their stock markets and allow the western funds to move in and convert the trading system to those of the West, particularly the Wall Street model. The bottom line, they want the Chinese stock markets to trade derivatives, fakes and worthless papers instead of real stocks.

The loosening of control of the yuan, to become freely convertible to foreign currencies and to be at the mercy of the currency manipulators is the biggest danger China is facing. It is under tremendous pressure from the West to allow the West to do as they like, as they please with the value of yuan. When that day comes, the West will buy up the yuan with toilet papers that they printed in unlimited quantities and will use the yuan to control the Chinese economy. China will then be at the mercy of the Western financial oligarchs working in collusion, and be controlled by them. They could bankrupt China at will by their complicated financial products and manipulations and the extensive network of financial players working hand in glove together. It will be a bloodless war that will destroy China in the name of free market.

The other major front is the stock markets. The western stock markets have been transformed into an unrecognisable monster and are stock markets only in name. The stocks will eventually all be worthless if the stocks listed in western model stock markets are a clue to what is happening. Many stocks are trading for one or two cents or less. What kind of stocks or stock markets would trade on such worthless stocks? There is no interest in the real stocks but in toilet papers printed with the words stocks or derivatives or other financial jargons. The base point is that they worthless and are not stocks but stock killers.

While China is in a hurry to develop its own financial and stock markets, it must not be conned into accepting the western model of stock market system and mechanism which are nothing but contrived legalised casinos with gambling chips printed with money value on them. The fundamentals of stock trading have been flushed down the toilet bowl and the substitutes are not stocks but meaningless and worthless scrips of papers, fakes.

China should go slow, develop its own stock markets based on traditional principles and conventional system, where the fundamentals are right. There is no hurry to rush into a system of madness that is unsustainable and is being kept alive not unlike a ponzi scheme. It looks good superficially but has no real value add like what real stocks are. It is the greatest con job of modern history. And like all con jobs, the bluff will be called and the system will collapse, if it has not collapsed already.

China must conscientiously guard against being duped into a freak financial system that is waiting for self destruction. If China should stupidly appease the West and unthinkingly embrace the western financial system, it will help the flawed system to extent its life a little longer at its expense, maybe giving it a semblance of rapid growth for a while, like a flash in the pan, and everything will be blacked out in quicker time, with a bigger bang.

The collapse of the western financial system is near, given its unproductive and destructive mechanism and the unjustifiable high rewards for doing nothing constructive, useful or productive. And when it falls apart, hopefully China is not another sucker being sucked into it and pay as heavy a price as the decadent West. The fundamentals of economic growth are production, productivity, creation of goods, values and real services. The western model is not any of these. It is just paper shuffling, financial engineering or tricks, accounting frauds, a complex system of unproductive con jobs. It produces nothing of value. It is conning one sucker after another to prolong its existence and delay its final ending. It cannot keep going without real economic growth and production.

China should just go on its own steam, doing what it thinks is right, keep producing valued goods for the world, and frustrate the modern day robbers and thugs and not be robbed by them. Do not fall into their trap by playing a game that the crooks have designed.

The great subsidy game

In paradise, everything is subsidized by the govt. School fees, university fees, all subsidized. Hospital bills, subsidized. Polyclinic bills, subsidized. Housing, more subsidies in terms of tens of thousands or at least $60k for those earning $1000 pm. Dunno how much subsidies for the bigger flats, but must be big. Public transport, also subsidized, the latest $1.1b to buy buses and pay staff salaries. PUB bills, conservancy bills also got subsidies but called rebates.

If these are subsidies, that means the govt is paying a large portion of the bills. The cost must be genuine and that is why there is a need to subsidise. Can someone work out how much would all the subsidies come to that are paid by the govt? I think it is no small amount. Or this is already provided in the budget under Subsidies?

If one flat is subsidized by $60k, 1,000 flat would mean $60 million. And for bigger flats, the subsidies could be more. Imagine how much the govt has subsidized for 800,000 HDB flats? Add the rest of the subsidies, it could come to billions.

We should call ourselves Subsidy Paradise. I am thinking of setting up a Subsidy Club. Everything in the Club is subsidized including meals, services, retails etc etc for as much as 70%. Membership fee is $200k. Monthly subscription fee is $1000. I think this is an excellent concept. Forgot to add, Membership fee is already subsidized and so is monthly subscription fee. Members no need to worry. This subsidy concept is perfectly sustainable in the long run.

The great subsidy game is one of the key factors that allows the thousands of millionaires to live their normal lives. Without the great subsidies, the millionaires will have to tighten their belts and may go begging. Can our asset rich millionaires survive without the subsidies? This is perhaps the only rich country in the world where millionaires have to live on subsidies.

I remember that a figure was thrown out claiming that an average Sinkie would receive something like half a million dollars of subsidies in his life time. Foreigners must quickly opt to become citizens and become recipients of half a million dollars just by becoming Singaporeans. Where on earth got such a good bargain?

4/15/2012

Faces of Agent Orange

This is a face that you can recognise in the documentary by CNA.

Channel News Asia (CNA) will be featuring a special documentary on the victims of Agent Orange in Vietnam next Friday, 20 Apr at 8 pm. It is a very painful story of what this pretentious magnanimous, defender of human rights, and the advocates against chemical warfare did to the poor Vietnamese during the Vietnam War. They were so hypocritical, so freakish, to launch a war to kill Saddam Hussein for amassing WMD, including chemical weapons, when it was the US that provided Saddam with such destructive weapons in the first place. And the US is still holding on to a huge cache of chemical weapons in its arsenal, waiting to use it generously on its next victim. And the world still believes that the US is such a kind and loving country, so caring and honourable.

The programme is a must watch to see what the Americans had done against what they preached.

CBF is better

The shock therapy of Lim Chong Yah is facing immediate resistance. It is flawed in many ways. In the first place it was not a sought after advice. Nobody asks for it. So it looks like a ‘keh khian’ or smart alec type of proposal. The saying in paradise is to be smart but don’t act too smart. And do not give advice if not asked for.

The second problem with the therapy is that it is free. There is no need to pay a million or two to consult a foreign expert to work on it. Things that are free are not good. And there is no angmoh element to give it some weight?

The third flaw, it seems, is that it is from a different camp type of thing. It is like everything from the opposition is bad. Only the super talents can come up with good solutions. I can bet the next salvo of questions will be something like, how is he going to pay for this therapy? Chen Show Mao already kenna from this kind of questioning. And Tan Jee Say also got it for his $6o billion restructuring programme. Both failed because there is no money to pay for them.

Come to think of it, giving 50% increment to the pay of workers is too far fetch a dream to come true. The workers will not accept it. The workers will prefer to go for CBF, cheap, better and faster solution. That is a sustainable solution in the long term. It has been in practice with full support from the tripartite arrangement or the holy trinity. Our workers only believe in the trinity and will not want the proposed 50%. They are happy as they are.

And the audacity to freeze the salary of top talents for 3 years is unthinkable. You want them to suffer, you want their life style to be painfully affected, you want them to be quitters?

The shock therapy is a no go from the word go. Now everyone will be asking for the blood of the good old professor. He should have done the politically correct thing, freeze the worker’s and raise the super talent’s salary by 50% over the next 3 years and receive all the praises and recognition.

Meanwhile someone may be thinking of lining up a team of super foreign talents with super consultancy fee to go with to counter this outrageous therapy. It must be done as the non economists and the layman politicians would not have the credentials or ability to shaft this recommendation down the longkangs in the usual way. This therapy must be exposed and every point rebutted to show that it cannot work.

4/14/2012

A new ministry to look after PRs and foreign talents

With the govt starting to place emphasis on the goodness of being citizens and cutting down on the privileges of PRs and foreign talents, these people will start to feel what it is like for being neglected by govt policies. Lam Pin Min is quite pro active in seeing the plight and suffering of these saviours of Sinkies and would like to see more assistance to help them. Setting up some funds to help the lower income PRs and foreign talents is a good start but definitely will not be enough. There are more than a million of them here and the problems they are facing cannot be solved by piece meal solutions.

The interests and well being of 2 million PRs and foreigners, just my guess, would need a ministry and a minister, plus minister of state and parliamentary committees to do a proper job. 2m is a big number when the locals, ie citizens, only make up 3m of the population. And for the 3m of citizens, there is a whole govt with all the ministers and MPs looking after and caring for them. It is time that a proper ministry be created to do a good job. And don’t forget, our benefactors are not here to sponge on the economy, but to help us. They need to be well looked after. If not they will move on.

As for the new ministry, the work is already cut out for it. One of the key missions is to make sure that govt policies are favourable to the PRs and foreigners and any changes must take into account their interests. Can’t imagine what the economy will be like if they vote with their legs. They can’t vote with their hands yet. Scary.

Don’t ask me where the money is going to come from to start another ministry, to pay for minister, minister of state, parliamentary secretary, permanent secretary and the whole works. One possibility is to make the PRs and foreigners to pay some kind of welfare levy to support such a ministry created specially to look after them. Singaporeans could help by subsidizing a part of the cost too, to show appreciation and gratefulness for their contributions to Singapore and Singaporeans’ good.

4/13/2012

Lim Chong Yah’s shock therapy timely

The remisiers in the stock broking industry are thrilled by the recommendations of Lim Chong Yah’s shock therapy. Those remisiers earning less than $1,500 pm can look forward to a 50% increment in their income in three years time. That should make them quite comfortable to buy a 2 rm HDB flat with money to spare. It is like a timely intervention from heaven to this dying trade. For the time being they can shelf their plans to become taxi drivers. Just wondering if they will try to upgrade the skills of taxi drivers, or improve their knowledge in driving and be tested on driving buses, coaches and lorries, or even cranes.

Another good thing is that the remisiers can think of submitting their claims to the Skills Development Fund for upgrading courses, for course fees and examination fees. The first batch of remisiers taking the Module 6A are busily calling the SDF to enquire on their applications.

Remisiers cannot ask for more with additional training and upgrading of their skills. They will be better equipped to engage in more sophisticated products with the new knowledge they have acquired. Or they can become FTs in other countries that need their sophisticated skills.

Though it is not sure how the 50% increment will apply to remisiers whose income is from commission and not salary, it is still something to hope for, to look forward to. The only thing that they may be worried about is the possibility of more reductions in commission due to competition and lowering of business cost. If that were to happen, after 3 years and 50% increment, they may still end up making $1,500 or less.

And they have no control over the commission rate as it is now freely negotiable and freely cut when necessary to beat the competition.

Fear not, there is hope for a better tomorrow. Every remisier can still become another Peter Lim. But don’t bet on it that commission rate will be raised or business will pick up with the machine taking over.

Parliamentary Elections Act, Section 24

Parliamentary Elections Act, Section 24, under the Writ of election.
Writ of election

24. —(1) For the purposes of every general election of Members of Parliament, and for the purposes of the election of Members to supply vacancies caused by death, resignation or otherwise, the President shall issue writs under the public seal, addressed to the Returning Officer.

(2) Every such writ shall be in Form 1 in the First Schedule and shall specify the date or dates (referred to in this Act as the day of nomination) not being less than 5 days nor more than one month after the date of the writ and the place or places of nomination (referred to in this Act as the place of nomination).

(2A) In respect of any group representation constituency, no writ shall be issued under subsection
(1) for an election to fill any vacancy unless all the Members for that constituency have vacated their seats in Parliament.

The above is a part of our election law which many are now familiar with, especially 2A(1) which states that the President will not issue any writ for a by election in a GRC ‘unless all the Members for that constituency have vacated their seats in Parliament’. What is in this Act is very clear, no by election unless all the MPs have vacated their seats in a GRC, all resigned, sacked or mati. If one is left, no need for by election.

The legal minded and the critics have pointed out this section as a violation of Section 49 (1) of the Elections Act which provided for a seat to be filled.

The question is who drafted Section 24(2A) and what was the intent, or what was the reason behind the law?

The next question, who were the MPs who voted to pass this Act and what were their intentions? Do they believe that this is what the law should be, that in a 5 or 6 member GRC, if only one MP is left, it is perfectly ok for the single MP to look after a whole GRC? And is this a reasonable thing to do or to believe, and to pass as a law? And if not, why is this happening?

For those who believe this is a reasonable law, a good law, a practical law, a law that they themselves would support and vote for it, case closed. For those who think this is not right, that one MP cannot possibly look after a GRC and it is only fair and proper to have a by election quickly under normal circumstances, they may want to think back and ask why such a law can be written and can be passed in Parliament.

Even if a Prime Minister calls for a by election, the President can say no under this Act if one MP in a GRC is still in office. Even if a Prime Minister wants a by election, there shall be no by election in a GRC under Section 24(2A). The President cannot issue a writ for a by election. But I am not a learned legal counsel so I must be misreading or misinterpreting the law, or the reason behind the law. Mine is a layman’s unlearned and blur reading of the law. Sure wrong one. I better admit first before kenna bokok by the honourable learned counsels.

Why would an MP support and voted for such a law?

My First Home

‘How can someone who can’t grasp simple and straightforward concepts be in a position to manage and lead a country? Look at Prime Minister Najib Razak's failed My First Home ownership scheme and the recent decision to scrap the controversial new civil servant remuneration scheme, apart from other flip-flops.

Launch a year ago, the house-ownership scheme for low-income earners failed because banks are unwilling to hand out 100 per cent financing applicants earning less than RM3,000 a month. How can Najib fail to grasp the fact that with a gross income of RM3,000 a month, a person simply cannot have any spare cash to pay the monthly installments for the house? Surely, Najib must know that a person has also to pay for essentials such as food, transport and other expenses….’

The above is an extract from an article by Nawawi Mohamad, Wong Choon Mei, Malaysia Chronicle.

The comments were quite surprising given the similar situation in Singapore. Spending power of 3000 ringgits is roughly equivalent to $3000 in Singapore. And our govt has recently proved to Singaporeans that a $1000 income is enough to buy a 2 rm flat. And definitely our govt will also include the other essentials that the person would have to pay for, like food, transport etc. And considering the property prices in Malaysia are so much lower than Singapore even with subsidies, it just sounds not right. Maybe Najib should pay a visit to Tharman for some advice on how to make Malaysian public housing affordable to 1000 ringgit and 3000 ringgit Malaysians. I think the trick is that in Malaysia they don’t have market price subsidies to go with.

One thing right about Najib’s formula is to make sure that all Malaysians will be able to afford a first home. I think they don’t have such rulings like singles, income ceilings or whatever to mess around to prevent Malaysians from owning their first home. They care for their citizens, to have a roof over their heads. And they don’t have to give preference to new citizens over their old citizens as they don’t have a million new citizens to provide housing to.

Singaporeans are luckier, to be able to afford quality public housing marked to market with only $1000 monthly income. The subsidies really work.

4/12/2012

The foreign North Korean experts at it again

They could not understand why the North Koreans are launching the satellite to celebrate the 100 anniversary of Kim Il Sung. Or they just do not want to understand. But that is not enough. They even came out with their foolish comments as if the North Koreans were little ignorant farmers, did not know what they were doing. The favourite reasons, internal rift or rivalry, Kim Jong Un must do something to establish himself, Kim Jung Un is trying to please everyone, Kim Jung Un is following what his father did, playing brinkmanship, what else is new? Oh, he is ill advised by his advisers!

And this Professor Andrei Lankov said his best guess, ‘is a culmination of bureaucratic inefficiency and factional rivalry.’

My no expert guess, the North Koreans need to show the Americans that they have the weapons to deliver a few nuclear warheads into the hearts of the USA. That is the only safe guard for the North Koreans if they want to avoid the fate of Iraq or a Libya. They must be able to do it. They could send a few hundred warheads into all the big cities in Japan and South Korea. These have neutralized the threats from these two neighbours.

The one that is left standing and wanting to have a go at the North Koreans is the US, thinking that it could hit the North Koreans without the latter being able to hit back. The security of the North Koreans is to be able to strike back at the international gangters. Period.

So difficult to understand the North Koreans and so many make beliefs of incompetencies in the North Koreans?

Little pest punching above its weight

The Philippines is showing how powerful it is as a naval power. It is sending its biggest warship, a piece of historical relic that survived the Pearl Harbour, to challenge China. It even warned China that it would retaliate if provoked. Wow, wow! That’s the way to show China how powerful it is. It threatened again to arrest Chinese fishermen and was stopped by Chinese patrol boats. It should have just sink the smaller Chinese patrol boats with its antique ship that the Americans have destined for the museum but probably given to them to challenge Chinese fishing boats.

And the Philippines is not stopping at that. It summoned the Chinese Ambassador to warn him that the Philippines is ready to defend its sovereignty. Hahahaha. Brave Filipinos. I think China will see its biggest military defeat when it fights the Philippines. China better be careful and scoot from the Scarborough Shoals before the Philippines navy arrest all its fishing boats. Don’t play with a big power like the Philippines. In another 100 years time the Phillipines will be building its own patrol boats to protect its territories.

Come to think of it, Singapore and Hongkong must also be careful as it would send its patrol boats to protect Filipino maids. South East Asia’s biggest military power on the rise.

From betrayal to betrayal

Were the Sinkies angry? Were their cries and pain heard and felt? The anger of a people feeling betrayed is beyond words. When foreigners came in drove ‘to help them’ and be treated like citizens with almost the same privileges, and more, yes more, whether the help was genuine or fake, it does not matter anymore. The Sinkies were simply pissed off and they want to make it counts. How could Sinkies be not allowed to buy public flats when foreigners can just by switching to pink ICs overnight? How could foreigners enjoy all the medical subsidies, education subsidies, national bonuses simply by becoming citizens but without the contributions and sacrifices of the original Singaporeans? Yes, the Sinkies felt betrayed.

But the PRs are now citizens? Another betrayal that insults the intelligence of the Sinkies. What is the point of cutting the subsidies for PRs now when most have already become citizens? Get the point? We can make do with PRs working here but not with more new citizens. We should not issue citizenships like toilet papers. What’s the difference if in spite of all the cuts in subsidies to PRs and more PRs exchange their blue ICs to pink ones? This is the real LPPL issue.

The cutting of subsidies to PRs is a new issue that will reek of betrayal if one is a PR. After all the praises and red carpet treatments, and a bloated mindset of coming here to contribute to the growth of this country and providing jobs or helping daft Sinkies, how would they feel now, with all the subsidy cuts? Would they feel equally betrayed? Many will start screaming ‘We will go to countries that will better appreciate us’ if there is one out there. The truth is that no country is so sick to dump their citizens in exchange for questionable unknown foreigners and treating them like gems.

The new joke now is that we have politicians calling for more distinctions between citizens and PRs and citizens must have more privileges, must be treated with greater respect, must be given priorities. Where have these politicians been? Were they sleeping and just had a rude awakening? Did they just realize that they have to serve Sinkies first and foremost? And the media will sing the same song and with more politicians singing the chorus. We will take care of Sinkies first. There will be more hugging and kissing of Sinkies from now onwards, I think.

I feel so pissed off that there is no point writing too much on this issue.

4/11/2012

The best tailor made all round education

The current education system has too many flaws and causing too much stress on the children. It is very unhealthy, too exam oriented and does little to develop character and good values and did not produce a well rounded person on graduation. What should be done is to study the feedbacks of parents and their children, understand what they want, what they fear, their expectations and dislikes, and put them together in a neat little basket to please parents and children for a more holistic and inclusive education, developing the sporting talents at the same time, wholesome and good character building and with straight As of course.

For a start, too much emphasis on exam grades is bad. Too much elitist bias is bad. The branded schools should go and all the schools should be made more equal and the spread of students spread equally to all schools, including the spread of good and bad teachers. This will not only level the playing field, it has plenty of wholesome goodness. The more talented students will have a chance to mix with the less talented and empathise with them. Good for bonding and the removal of elitist thinking.

The curriculum should be reduced, teach less and learn more is good. Children must have a lot of time to play, which will also develop their friendliness and EQ. Play if specially coordinated can be part of the sports training to develop the children into future champions as well.
Second Language or mother tongue shall be made optional. Children should not be stressed to learn something they dislike, like their mother tongue. The future will be mono lingual, maybe just English. Plan for the future and help the future to succeed.

And science and mathematics are just too restrictive. Allow the children to read other subjects as well. Reduce the time from science and maths and spread them to other subject. This can include ethics and morals, how to be good citizens.

And make sure the students have good grades. Ask the parents how many As they want their children to have. Make the necessary moderation to make the parents and children happy. Having more than 50 per cent with straight As may be too much and people will question the standard of our education. 20 percent straight As should be a nice number, follow by 20 percent with 4 As and 20 percent with 2As. Another 30 percent should be for those with Bs and Cs and balance 10 percent, make it 9 percent pass and 1 percent unable to make it. This would be good news for parents and children. What? Not good enough? OK make it 30 percent straight As and adjust accordingly.

And I forgot, articulation skill is very important. Our children are quite tongue tied and find difficulties in expressing themselves. Have more debating classes and social interaction time for students to debate with each other. Such skills will be good if they later choose to become politicians. They can continue debating in Parliament.

Did I miss out anything? I think that’s about it. This must be the most wholesome and happy education system for happy parents and children. And all guarantees to have good grades. Oh, oh, one more thing, no homework. I remember those days when I was in school, barely any homework except when punished to write lines. The free time available can be used to explore the neighbourhood and play with the neighbour’s children.

Think about it, the best education system we ever had was in the 50s and 60s. Every day is fun. Have fun in school and have fun after school. Only thing bad then was the red marks. But this can be fixed with moderation to make parents proud of their children’s grades. What is important is an enriching and rewarding experience for both parents and children. And the teachers must also inculcate into the children that winning all the time, being the best all the time is not necessary a good thing. In life, there are many other better things to achieve than just winning. Always think of the losers before one thinks of winning. I think this last sentence is the best part. Just imagine the look on the loser’s face. That is satisfaction beyond words. : )

Specialised or customized is good, generalized is bad. General education is good, streaming is bad. Elite school is bad, neighbourhood school is good. Now I got myself confused.

Medical Insurance coverage at 90!

Why does a person need medical insurance coverage at 90, or 70? Well if one is LKY or Wee Cho Yaw, when life is a bliss, when everyday extra on earth is better than another day in paradise, you would need insurance even at 100 with the premium costing $100k a year.

Would a 70 year old retiree need to have medical insurance if he is living alone in his lease buy back flat or with his retired wife? Or would a retiree living with his children, supported by his children, still need medical insurance at 70? He will if he wants to continue to live to 100 and pay for all the gadgets they are going to insert into his body or chop dying parts off his body when the parts are not working anymore.

I would say this is a very subjective point. I do not need insurance at 70. I rather use the money to amuse myself or give it to the children and grandchildren. What is the point of paying so much insurance and more for medical bills that may come to hundreds of thousands when one is already 70? But if one has all the money in the world, why not?

Consider an average person with no income, just living and waiting to be called home to the Lord, is it worth it to spend the children’s money, a few hundred thousands, to live for another few months or few years? Is it worth it to spend whatever that is left in one’s CPF savings, including the ransom held for one’s own good in Medisave for more insurance premium? It may be an issue of affordability or an issue of where to spend the money.

A lease buy back scheme on a HDB flat may not be enough for a long hospital stay. It will bankrupt people under such scheme as the bill is no small matter. And after paying the bill and with nothing left, then what?
The thought of medical insurance after 70 is amusing. The thought of medical insurance at 90 must be a joke to many.

4/10/2012

Would PAP eat its own words?

Speculations abound of a by election in Hougang plus one or plus two GRCs. Technically Tanjong Pagar is due for a by election and so is Marine Parade. One candidate is time to exit and one still a big liability. Talks of Hsien Loong vacating Ang Mo Kio is too far fetched. He cannot afford to put his head on the chopping block. An election is an election and anyone can lose. Unless he is planning for his own exit from politics.

The other key consideration is what PAP had said about holding by election. It is an expensive exercise, very serious, and not masak masak. You get the people to elect their representatives and don’t suka suka decide to change the MPs after a year and replace with new candidates. It does not bode well on the PAP in their choice of candidates and how they regard by elections, which they had sneered at the sacking of Yaw Shin Loong. In the case of Yaw, there is an element of indiscretion and integrity which are compelling enough to have a change of candidacy.

There are no extenuating circumstances for the PAP to be able to justify having by elections in other wards or GRCs just to replace a candidate. It will be going against what they had said. They can’t be telling the people of Tanjong Pagar that LKY is retiring after one year in office. They should have known. Neither can they announce that a MP has to give way for being found unsuitable.

So, how believeable is this talk of more than one by elections? It could be a red herring being thrown out to get everyone excited for whatever reasons. It could be a lure to entrap the adventurous.

Third world thinking cap

We are here today proclaiming that we are in the first world of developed countries. We got here today, from the third world, by thinking first world. The basic thinking was that everything must work. There is no excuse for failure. And definitely no excuse for failures when the cause is known well in advanced. Claiming that because of such and such, failure is something to live by is third world thinking, unbefitting of first world, unless we want to progress back to the third world, when things are less demanding.

Just because we have brought in a few million people into this little piece of rock does not mean that the problems must be something to live with. The problems we are facing today, unfortunately, was due to incompetency, poor planning and coordination, hardly anything about thinking ahead of problems, pro active, nipping problems at the bud. Thinking ahead and preventing problems from cropping up are first world thinking, but it seems that we are losing it.

Today we live in denial, pretend there is no problem or insist that there is no problem, talk away the problem using the media, once in 50 years, cannot be solved, so be it.

So, the next best thing is to think like third world. We have to live with the problems we created and failed to anticipate. The worst that can be is to be fourth world if there is a fourth world, knowing the cause of the problem and stubbornly encouraging it, in this case over population and still asking for more.

How thick can that be? Fourth world thinking or delusionary thinking?

A brutal admission of grave errors

Light is shining through the thick foliage of the old oak tree. For 46 years, never has an individual got the guts to speak out so violently against the ills of the system, against a cancerous growth that all pretends not to see while the beneficiaries are lapping them up as their ill gotten rights.

Professor Lim Chong Yah has made a strong recommendation for radical reforms in our wage structure. Among his recommendations is a 50% increase of wages for those earning $1,500 or less per month and the freezing of wages for those earning $15,000 per month for three years. Those in between will continue to enjoy moderate wage increases with the main purpose of closing the widening wage gap.

The recommendations come at a time that calls or demands for drastic change which would otherwise be mulled over with some cosmetic changes to placate the victims of the economic structure.

Immediately we are hearing growls of pain and suffering from the super talents. Foul, foul, they screamed. Why should they continue to work when there is no increment for three years? The world appreciates their talents and they will move to greener pastures. And there are those earning in the millions that will see their days darkened. How could they survive the three years of drought without any pay rise? It is frightening. This country’s progress today is the fruit and effort of the super talents. If we lose them, we will, yes, go back to the third world 60s.

I think we should take a gamble and let our super talents move to greener pastures if they are that good. Sure they will find better paying jobs in the world. The whole world is waiting for them with open arms and willing to pay them the obscene pay they are getting today. Oops, maybe got to rethink this statement again. If we have to continuously import foreign talents to fill up top jobs, I doubt we have many super talents to go around. And knowing how protective are other countries are of their top jobs, I bet not even a handful will be hired if they quit their jobs in this island.

My apologies to the top talents here who feel that they will be able to land better jobs across the world. Some will, definitely. But if we look at Lim Chong Yah’s recommendations from the super talents’ point of view I think it also makes sense. What if it is true, all our super talents are hired in Wall Street and Fleet Street, in Europe and Japan, our little economic miracles will vanish over night. This is equally frightening.

A safer bet, not to risk the great economic progress that we are enjoying, is to reverse the recommendations. For those who are earning $15,000 and more, their income shall be raised by 50% over the next three years. Those earning less than $1,500 pm shall have wage freeze for the next three years. The recommendation for the in between group can be as recommended. This approach would definitely energise our super talents to work much harder and propel our economic miracle to greater height. Isn’t that what we want? It is all about meritocracy and the meritorious should deserve all the merits. And those earning a million can expect another half a million increase over the three year period. Those earning $5m can expect $2.5m increase. That would be great and we will have more multi millionaires.

Now which way shall we go? Maybe we will need another GE to decide what is the better move.

4/09/2012

Third World War coming!

Japan has moved its Patriot missile system to protect Tokyo. Its military forces are in full alert. Its air defense forces have been given the order to shoot. The whole country is in a state of fear and hysteria.

The South Koreans too are in full alert. War is going to break out soon. They are all ready to shoot anything crossing their sky. The Americans 7th Fleet is in full battle order. All the men are in battle stations. It is red alert. At any moment war is to be declared. Obama is not having any sleep.

The western media are working 24 hours printing reports of how dangerous the situation is now. The whole world and world institutions are worried. Correction, the whole world is defined as the US and its semi colonies, and the world institutions are American and western institutions.

Even Asean is afraid, very afraid. But many countries are going about their lives as if nothing is happening. China, Russia, Taiwan, Hongkong, Malaysia, India, the whole of Africa and South America, and many other countries do not know that the third world war is about to happen.

Why? What is causing this epic event to happen? Oh, the North Koreans are sending its satellite to space. And it is like the end of the world, and all those hysterical countries believe or wanting the whole world to believe that they will be attacked by the North Koreans soon. The North Koreans are going to attack the US, Japan, South Korea and silly countries like the Philippines and you know who. How dangerous.

The people of the world, quickly hide inside your bomb shelters. The third world war is going to happen, all because the North Koreans are going to send a satellite to space. Isn’t this what many countries are doing and nothing happens? What is real and what is to believe?

Doctors crying foul

Inspection and certification of medical instruments are going to cost a bomb. And the doctors are unhappy and rightly so as the cost of medical services is already high and now adding more cost. This is the syndrome of creating jobs and income for doing more and more. Aren’t these equipment manufacturers subject to many international regulations and standards to ensure that their equipment is safe for use?

We will be seeing more revenue created from unproductive administrative processes like more checks, more certifications and examination fees, more licences etc etc. The annual checks for cars, especially weekend cars, is another big concern. The cars today are very well made, and in our case many are very new, weekend car owners hardly used their cars, but subject to annual inspections at a hefty fee.

It is so easy to make money when you have the authority to do so. Just create some excuses for more training, more examinations, more checks, more certifications, and money will just flow in. No need to work the guts out in the field, in the factory, in the service outlets producing real goods and services. Better, wait for someone to complain and turn it around to impose more fees to look like trying to solve the problem.

The financial industry just print paper money, create complex notes and sell them to the ignorant. All part of the new industry of creating revenue out of nothing. Is it really that clever to do such things? What shall such things be called? Abuse of power, authority, robbery, trickery, selling snake oil? You don’t need any talent to do such things. The MLM, the holiday share schemes, ponzi schemes, charities and donation schemes , etc etc even the school dropouts, the laymen or conmen can do it. In fact they are more creative and effective than the super talents in such designs. Cheating is the easiest thing to do, and no thinking required if the power is behind cheats.

4/08/2012

My nightmare turning into an inspiration

Since independence we have called ourselves citizens of this country, and we dutifully went to the voting stations to cast our votes to elect our representatives to Parliament, to represent us, to speak for us, to look after our interests. It was quite shocking to learn that a general election is meant to elect a party to rule the country and has very little to do with the elected representatives. Got or no elected MP no big deal. And that is the reason or the reason behind the law for an election.

I have been living with this nightmare for quite some time since the new awakening, to find a new meaning in the law or a new reason for the law. Now that the dust has settled, time to relook at this new interpretation of the law for election. I said new because it is new to me. It may be an old meaning that I do not know and I could have been an ignoramus all this while, oblivious of the true meaning of the law. Silly me.

Okay, now that some brilliant legal mind has shone a torch on this law and enlightened the electorate on the reasons behind the law, let’s make it clear and proper. A general election shall now be an election for a political to rule the country. Let’s be transparent about this and tell the people what it really is. Just go to the polling and tick against the party. It is much simpler and easy to administer.

The elected party shall form the govt and fill the seats with their MPs in parliament. A little tweaking needs to be done to the Constitution on how many MPs each party is entitled according to the percentage of votes received. The parties can sort out who they want to be in parliament as it is not really important to have a chosen MP by the people.

And there are many advantages to such a system and very cost effective. One thing that can be saved is a by election. Since the people are electing parties, a vacated seat can simply be filled by the party concerned. Save time and resources and the people can have a new replacement almost immediately. Very convenient too.

This nightmare, if interpreted in a positive way, can be an inspiration for a new electoral system.

The glorification of foreign talents continues

Spread your legs, spread your legs, spread them wider, and wider. We must let the foreign talents to come in or we will perish. Though we have survived and built a healthy and economically viable country on our own steam for the first 40 years of our nation building, with very little foreign talents, why is it that we cannot continue to do well without foreign talents?

And what kind of foreign talents are we getting other than a handful of exceptions that will lift us higher in the competitive world? How many of those so called foreign talents are doing jobs that Sinkies can do just as well, I don’t mean the Geylang type? I mean for every foreign talent that is recruited to sit in top management position, are there really no Sinkies that are as good or even better than him or her? This is the biggest bull that daft Sinkies are made to believe and live by.

We have been compared with Taiwan, China, India, Korea etc etc, and are we really doing that much better than these countries that are self sufficient in local talents and have companies that are now recognisable world wide? Maybe we don’t have enough head counts and we need more head counts to be bigger like them. But what is so great about their companies? With Temasek and GIC we can have many of their companies if we want them. We simply buy them over and with the Singapore premium, none will be able to resist our offer. We can buy the world with their talents, lock, stock and barrel. It is like… with one of these we can have a thousand of everything.

I think it will be a better strategy to keep this third wing overseas and no need to bring the hoards of hungry third world, talent or no talent, to our shores and inflate the prices of everything, including inflating our culture and bad manners. After carefully grooming and programming our people to be more discipline and refine like the developed countries, it is a big waste to mix them up with the uncouth and third world behaviour and social norms. And worst, to tolerate them and become one of them, be assimilated by them. There must be other better formula for growth and economic well being other than inflating head counts with third world talents that are deemed better than ours.


Spread your legs, spread your legs, spread them wider, and wider. We must let the foreign talents to come in or we will perish. Though we have survived and built a healthy and economically viable country on our own steam for the first 40 years of our nation building, with very little foreign talents, why is it that we cannot continue to do well without foreign talents?

And what kind of foreign talents are we getting other than a handful of exceptions that will lift us higher in the competitive world? How many of those so called foreign talents are doing jobs that Sinkies can do just as well, I don’t mean the Geylang type? I mean for every foreign talent that is recruited to sit in top management position, are there really no Sinkies that are as good or even better than him or her? This is the biggest bull that daft Sinkies are made to believe and live by.

We have been compared with Taiwan, China, India, Korea etc etc, and are we really doing that much better than these countries that are self sufficient in local talents and have companies that are now recognisable world wide? Maybe we don’t have enough head counts and we need more head counts to be bigger like them. But what is so great about their companies? With Temasek and GIC we can have many of their companies if we want them. We simply buy them over and with the Singapore premium, none will be able to resist our offer. We can buy the world with their talents, lock, stock and barrel. It is like… with one of these we can have a thousand of everything.

I think it will be a better strategy to keep this third wing overseas and no need to bring the hoards of hungry third world, talent or no talent, to our shores and inflate the prices of everything, including inflating our culture and bad manners. After carefully grooming and programming our people to be more discipline and refine like the developed countries, it is a big waste to mix them up with the uncouth and third world behaviour and social norms. And worst, to tolerate them and become one of them, be assimilated by them. There must be other better formula for growth and economic well being other than inflating head counts with third world talents that are deemed better than ours.

4/07/2012

The pathetic pictures of dogs

Last week I remember the pictures of some of the best fighting dogs published in the media. They were mainly pitbulls, kept primarily for fighting, in some corners of Indonesia. The sight of these dogs was pathetic. Each was chained to an empty oil drum which doubled as their kennels. And the most unpleasant and unexpected, they were so under fed that the rib cages were showing prominently.

How could these fighting dogs fight when they were looking more like greyhounds? And fighting dogs or fighting cocks are like footballs and gamblings. The owners should be able to give them a decent meal and also for them to gain strength to fight. They have to be fed well it they are to bite well.

Perhaps those were the losers or the aged, left to be forgotten, to live or to die. The good dogs and the champions would still be well fed and well looked after.

Feel very sorry for these dogs. In their heydays as pitbulls they must have worth a lot and received a lot of strokings from their masters. They could be growling all the way into the ring as if they were invincible, prized possessions of their masters.

Revisiting the 60s

The Christians are reliving the past, the days of Jesus Christ, the times when miracles happened. Jesus died and was resurrected to live forever. The past can be a great inspiration to many and can be quite frightening to some. The past could be a milestone, a reference point to mark where we have come from and where we should be going into the future.

Last week Hsien Loong was warning the people that if we don’t buck up, we could return to the past, to the 60s. In this sense, the past is something we do not want to revisit.

What were some of the memories of the 60s that are still lingering in our thoughts? Renting a place to sleep, to get married, to set up homes, is a common thing then. The citizens were so comfortable living and sharing with strangers in little rooms, sharing kitchens and toilet facilities. The toilets at home are like public toilets, just as dirty, with no ownership and untidy housemates.

And of course the rooms were small and crammed. A 600 sq ft unit could be shared by 3 or 4 families. Each family of 4 or 8 or more could be squeezed into a single room.

Car ownership was a great status symbol, a social class to be aspired to. There were TV serials just on the theme of car ownership class and how this became the divide of society.

And there were latch key children, with both parents at work and the children given the house key to return to an empty nest. Life was tough and everyone was working hard. The good thing then was the hope and aspirations, the attainable hopes and aspirations for the ordinary folks to own their cars and their flats. And upgrading to bigger and bigger units of flats or private properties were a way of life. Everyone was improving their lives. This latter part, of living their dreams and attaining them quite easily, kept the people happy and focussed on the good life ahead.

In many ways we are already revisiting the 60s in some areas. It is not that we are going backward. We are already there. We are in the process of going full circle. Singaporeans are encouraged to share their flats to strangers and turning their toilets into public toilets, for an income. The new flats are getting smaller and smaller, and with shoe box flats being brandished as the next good thing, more will have to live in them, as owners and not tenants.

The latch key syndrome has not gone away, only the parents. In the 60s, the parents were in Jurong or working somewhere in the island. Today the parents of these latch key children are further away, overseas.

Another 5 years will be all it takes for car ownership to become another new privilege class. Many would have to abandon their dreams of owning a car. Many will live their lives without being able to buy a car while many will be owning 5, 10 or 20 cars.

The upgrading ethos will still carry on. Many will still aspire to upgrade, from a 1000 sq ft HDB flat to a 600 sq ft private flat that costs a million. And their life style will improve with the millionaires living next door. And hopefully no need to turn their toilets into public toilets by subletting to strangers.

The dreams of being rich and owning properties will always be there. There will be those who will become doctors, lawyers, politicians, top civil servants, and be able to afford the rich life of the talented. Many have made it and the reward is more than worth it…if they made it. But many will return to the 60s to live their dreams that will no longer be that easy to attain. It is not a matter of whether they will return to the 60s, they will, many will.

Some of the women folks may end up as maids if they are not careful, and have irons on their faces or falling off while cleaning windows.

The oldies then fared better than those today. Maybe they died earlier. Many could live off their pensions and faded away. Today, the oldies are richer, with plenty of savings in their CPF, but still have to work till they die.

4/06/2012

TRE banning redbean from accessing

Hi TRE, what is happening? I tried to access your site for some reading this morning and found my IP being banned. While your site is reposting my articles, I have rarely made any comments on your site, maybe not more than 5 in all, and all neutral comments, if I can remember.

Must be something funny right? April 1st is more than a week past. You don't have a change of editorial team or administrator for your site I hope.

The Hougang by election court case

The case filed by Madam Vellama Muthu in court for a ruling on when a by election should be held is being challenged vigorously by the Attorney General’s Chambers. The AGC is appealing against Judge Pillai’s ruling for a hearing next week to determine what should be done in view of an MP vacating his seat. The judge has found that there is a prima facie case to have the case heard.

What is the issue of this case? Is it a case of a political party taking a position which other political party disagree. Or is it a case of the people against the govt or the law of the country? If it is the former, where the ruling party is seen as not observing the law of the country, would it then be expected that the ruling party be defending its position?

Or is this a case against the state that the AGC has to come out to take a stand to defend the law? It should be the case if the law is clear. What is now unclear is that the law is apparently vague in the calling of a by election and a case has been filed to have a clear interpretation of the law by the court. Should not this be a good thing, to have a clear position and nobody can then quibble over it? Maybe the AGC’s position is that the law is clear and no need for further interpretation.

What is the best thing to happen? Throw the case out and not wanting to know the court’s ruling and interpretation on what the law really should be?

4/05/2012

The con game in the world of high finance

The international finance industry is rotting to the core. The revelation by the Goldman Sach executive provided a small glimpse to the crimes being committed in the industry. The fund managers are no longer making money from the market for their clients. They could not. The whole financial industry, including the stock markets, has been redesigned to sell worthless papers and financial products at the expense of genuine stocks. Companies listing their shares in the markets too are getting wiser and no longer value the net worth of their shares. Everyone is trading for quick profit with no regards to fundamentals.

When fund managers find it impossible to make money from trading stocks, they ended up violating one of the major regulations of trading, churning client’s money and making money from the clients instead. Everyone, fund managers and stock exchanges, are trying to keep one step ahead of the competition by running faster while the bridge behind is falling off. And they think they are safe while those who move slower fall off and were swallowed by the bottomless pit below.

The only hope by the funds or exchange administrators is to be the last man standing. But then they forgot that the bridge is still collapsing and the last man will still have to fall in too. The fundamentals of stock tradings when there is real value in stocks and shares of companies have been forgotten. Today the trading is done on fictitious paper creations instead and destroying the values of stocks. Billions and trillions of dollars are piled up on worthless papers instead of real stocks just like the days of Lehman Brothers and toxic notes. Values are being created by shifting and printing of these papers. This paper game will have to come to an end sooner or later.

All the top talents are so deep in the pool of shit that they no longer see further than the tips of their noses. And they keep trying to be clever by trying to be creative and innovative, to stay ahead of a falling bridge.

The collapse of the American and European economies and finances was not due to their inability to produce but through their cleverness in over producing, by printing money for themselves, with no real value added. Asset enhancement, asset swaps, paper swaps, borrowing and endless credits, and buying worthless pieces of papers, etc etc, become an unproductive computer game.

The real producers of values are in manufacturing and farming and their true values have been ignored and even sneered at for the pittance they got for their labour. The smart asses need not produce anything but rewarding themselves with millions and billions by financial engineering. And they think the game will go on and on.

The real stuff, the real producers of goods and services, will survive and outlive the fictitious producers of paper wealth that will come to nothing. It sounds so clever for an asset to be traded hundreds of times it original value. It sounded so clever to buy some papers and sell them at hundreds of times their original values. Where is the real value added? If there is none there is none and the gain is pure fiction.

Try to think what Tharman said, ‘We cannot just be a society of insurance agents, real estate agents and bankers and office workers.’ The best of the American talents are in Wall Street writing paper moneys to make millions and billions without being productive. And we want to go down the same road with everyone paying themselves in millions without producing even a grain of rice.

Asean disarming the Number One Gangster

Asean has proven that dialogue and diplomacy are the way forward. Interference in other country’s internal affair through threats, sanctions, and regime change are not acceptable and will do more harm than good. Myanmar is a feather in the cap for Asean and the Way of Asean.

What has the Number One International Gangster achieved in Iraq, Libya, Afghanistan and those countries that it invaded? Nothing except bloodshed and destruction. And it is still gearing up to invade more countries with Iran and North Korea on the list, and with new troops being deployed in the Asia Pacific region.

What Asean has done in Myanmar is the best proof to the world that the way of the Gangster is not the way and unacceptable. Now, would the Gangster and all the small gangsters stop bullying the weaker countries and lift their sanctions on Myanmar?

What is surprising is for Asean to make a statement against the North Korean’s launch of its satellite. What has that got to do with Asean? Is not Asean trying to interfere in another country’s domestic affair, particularly a country that is so remote from Asean in all counts? Or is Asean’s arm been twisted that it has so say something or else? It is a pity that Asean has to cower under a foreign big power’s pressure to mess around with another country’s peaceful pursuit to send a satellite into space.

Accountability and conceitedness

I have written about how 44 men could change your lives or destroy them in an earlier post. In ancient history, countries or states were owned by kings and emperors who conveniently spread the myth that they were the sons of heavens and given the mandate to rule. Then, one man or one family ruled the country. We are slightly better off in having 44 men or women to rule us.

What the 44 men or women forgot is that their mandate is now from the people and for a term of 5 years, and subject to the people’s approval. What happened here is an unnatural development where the govt think that they really have the mandate of heaven for life. This allows them to think that they can do anything they want without having to consult the people. They know best and have the authority to rule the people.

The other myth is the myth of govt. Even the 44 men or women are a myth. The major decisions were not done by the govt or the 44 men or women. They are made by a few men or may be less. And these few individuals were conceited enough, with the arrogance of knowing it all, or with the mandate of heaven, to do as they please.

And they would tell the people in the face, we are in charge and we will be accountable and responsible for the decisions made. The question is who do they think they are? How accountable can they be and how responsible can they be? What accountability or responsibility if a bad decision is going to impact on several millions of lives and for generations to come. And some decisions may even lead to the downfall of a county? Can a few individuals shoulder such responsibility and accountability? What could they do? Make a public apology or cry over the TV?

Decisions like bringing in millions of foreigners and giving away citizenships freely should not be made by a few individuals or even a ruling govt. It must seek the consent of the people, the millions of people that share this country. Decisions to keep the people’s money in the CPF for whatever reasons cannot be made by a few individuals. It is not their money. Such decisions must have the consent of the owners of the money. Then the selling of properties to foreigners and driving up property prices to become more affordable?

There are many decisions that have very serious consequences on many people and should not be made by just a few individuals. The people own this country and must have a say, not a once in 5 years say, not signing a once in 5 year blank cheque.

Tharman has put in succinctly by saying that the govt is too much in the people’s face. ‘We took our incumbency too much for granted in the past and we were also too much in your face. The solution would be for the PAP to engage with the people “a lot more”, take nothing for granted and win Singaporeans over by giving them more say, he said.’

Hsien Loong has also spoke in the same vein yesterday. Is this going to be real, a real change? Or would it be another aspiration, another wayang? Would the govt seriously consult the people on major decisions that would affect country and people? The people will no longer keep quiet when their lives are seriously affected. The people want a big say in major policies affecting them, not the say or decision of a few arrogant men or women who think too highly of themselves.

4/04/2012

TRE under attack

Looks like Temasek Review Emeritus is under attack again. Unable to read any article posted there.

What the rich do with their wealth?

We are the third richest country in the world according to Forbes on a per capita income basis. This means real money on the head of every Singaporean. And it could be more if we have not imported and bloated up our population with foreigners. But never mind, we are still very rich and should make full use of our money to create a utopian Singapore. How and what is a Utopian Singapore?

My idea of a Utopian Singapore is one that Singaporeans do not need to work any more, or at least no need to work till they die. The third richest country in the world working its citizens to death! Can you believe it? Singaporeans only need to enjoy life, go to school to study anything they want. Go to learn arts and sports and study the sciences for fun. Why not, with the kind of money we have?

We have plenty of money and we can use the money to hire really talented people to create and make more money for us. We can pay for the lower skill people to do manual jobs and the higher skill people to make money. We pay them to do everything for us, but most important thing is to make us richer. Why aren’t we doing this? Aren’t we spending millions and millions to the most talented to make money for us? Or are we spending millions and millions on the most talented to make us work for them? If this is the case, then something is very wrong somewhere. The formula is wrong. The outcome is wrong. There is no need for Singaporeans, the third richest people in the world, to work and to work to death.

What is all the wealth for when we cannot enjoy them, and worst, to scrimp and pinch and to work and work. It is just not right. Our super talents must think smart and do the right things, and think of better ways to make Singaporeans live a richer life with all the wealth we got in our country.
Look, this is nothing new and nothing difficult. Many of the rich here and everywhere are doing just that, living off their wealth, managing their wealth, without the need to work. We can transform our wealth at the national level and make all Singaporeans as wealthy owners of our national wealth, and live a life of plenty, and no need to work. Any Singaporean who wants to work is to work for his own enjoyment, personal satisfaction, like the rich and super rich. That is the goal.

The present situation is not that of a rich country but a country with so much wealth and benefiting a small elite and so called super talented foreigners. There are still too many people not living well and many are just making ends meet. Is our wealth fictitious or not properly directed to benefit the people? Giving the extremely poor a few hundred bucks monthly is not sharing of the country’s wealth.

Think of a new formula, a nation of wealthy Singaporeans, no work, all play. And making the talented people work for us. For paying them so well, they better give us good returns for what they are worth. We pay them to work for us. Why are we paying so much and not getting the return to make everyone live better and still got to work to death?

The third richest country must be a happy country with the people really feeling rich, not poor. We must be able to fund our people in education, the unfortunate and the aged. The only thing that we are funding is the hoards of foreign students. And we are running charity shows after charity shows to raise funds for the less fortunate. How can that be?

The rich in our midst don’t live a life begging for charity. Neither do they need to work to death. Maybe it is all a dream and so is my utopia. Some thing is just not right.

Temasek has discovered the magic formula

Temasek Holding is selling its Indonesian Bank Danamon stake to DBS Bank for $9.1b. It was reported that it paid $365m in 2005 for a 51% stake in Danamon. It has subsequently increased its stake. The cost of the additional stake was not disclosed but the $9.1b would definitely give it a substantial return on its investment. This is the kind of ‘bee tang’ transaction that every fund manager is looking forward to. One cannot be helped but to say that Temasek must be laughing to the bank, to DBS Bank actually, when the sale would give it an additional 439 million of new DBS shares. This would raise its stake in DBS from 29.5% to 40.4%. It is really a deal made in heaven.

The best part of the deal, DBS Bank is so happy paying a premium of 56.3% over last month’s market price. What a win win situation, with buyer and seller happy like fart. DBS will now be the 5th largest bank in Indonesia and a foothold in the hottest emerging market.

Temasek should try to duplicate this formula by buying more bank stakes from emerging countries and resell it to DBS Bank. DBS too should try to buy bank stocks from Temasek instead of other sources and not to repeat the same deal as Dao Heng which it was not too happy with.

The partnership between Temasek Holding and DBS Bank is unbeateable. And the formula is not easy to duplicate. The bottom line of Temasek will get a big boost with this sale.

4/03/2012

60 men and a minor, a call girl

"The men include a senior banker, a company director, a senior vice-president of
a private company, lawyers, a senior police officer, a primary school principal who is married with a child as well as a scholarship recipient." - The New Paper Report

It is a simple straight forward case of committing a crime under the law of the land, having sex with a minor. But it is not to be so as the luminaries involved could be like the sky opening up. The appointments said that these are senior men in high offices and many could be very well known or related to the very well known or to families of very well known.

Now there will be many red faces and embarrassing moments for many that are related in one way or another. It is going to be very tricky how to handle a situation like this. In Diary of a Singaporean Mind, the views were quite diverse. Some wanting the law to be applied whether it is one man, one unknown man, or so many important people. The law must be fair and square. No one is above the law. Some were more compassionate and understanding and the fear the consequences on the lives of these dignitaries.

I am not any wiser either. There is the consideration of a law for everyone, king and commoners. There is the compassion and the also the sympathy for the violators. Some may not think so.

The human nature, the urge and the lust for the opposite sex, or just for the thrills of having sex, can be a very strong pull for men to err on the wrong side of the law. To err is human. What is surprising is that these are very senior and serious people. Is it the fault of human nature, or is it the failings of an individual, a character flaw, or something that is so irresistible that they are helpless and willingly committed such an act? Would these people be able to think rationally that the obsession is irreprehensible that they should pull themselves away from it?

Looking at drug addictions, the obsessive urge of paedophiles, the temptations seem irresistible. The psychiatrists could interpret these as abnormal behavior, a flaw in the personality, a mental disorder. 60 men are going to face the music one way or another. Given the seniority of their appointments, not thinking, unthinking or a moment of folly is not going to win any grounds. It is going to be real tough on every one of them.

I am not passing any judgement as I am no god or immortals. I am just an ordinary man that could also fall victim to all kinds of temptation as well. When this case goes to court, it is going to bring down the roof. The jaws will drop.

The lynching of Shimun Lai

Below are some of the 114 comments posted in www.temasekimes.wordpress.com in the thread ‘Shimun Lai apologises…’ The commentators are angry, furious and not forgiving her. Her apology apparently did not go down well on those she had offended. This is how serious a snide remark can cause in a multi racial society. Everyone must be extra sensitive in what they are saying, blogging, tweeting or posting in their facebooks. Your good friend could send the message out and it can go viral very quickly.

I am reminded of the US and the KKK and how vicious they were in lynching their victims on racial grounds. I am not sure what kind of punishment should be dealt to Shimun Lai before her offended victims could cool off. Lynching her is out of question. And the case is not really serious enough for the police to prosecute her in court. Neither would it be serious enough to sack her from the polytechnic. She has apologised, her polytechnic has reprimanded her.

She did said something disgusting for sure. Would those demanding for her blood like to visit 3in1kopitiam and take those saying 100 times more disgusting things than Shimun Lai to task as well? There is a time for forgiveness and the viciousness shown can turn ugly and hypocritical when overdone.

Do we want a society where every little offence will be reported to the police and demanding prosecution or hanging? I know of a neighbour complaining about the neighbour’s plants. The neighbour did not want to aggravate the situation and did not complain for all the incense dust that had fallen on their clothings and at their doorstep by the complaining neighbour’s incense sticks hanging at his door. And this makes the complaining neighbour think he is an angel, doing no wrong.

The Shimun Lai episode, not much different from Sun Xu’s case, demonstrated that there will be individuals in the midst that could utter strong words without thinking, especially among the young. But these are isolated cases. Racism has not taken root here and will not be allowed to do so as the majority are sensible and sensitive people. The govt and the law will not allow it to be so.



Viknesh Venga said
March 27, 2012 at 2:40 pm
say sorry for what? we are hoping u will get a serious punishment u sick racists ! lets hope u get expelled and a major fine .. this will send out a message to the rest . there is no place for racism in our society.
Reply
o
Ravin Ramakrishnan said
March 27, 2012 at 3:32 pm
does she think that a simple apology actually suffices?!?! sth so foul and insensitive is seen as sth so trivial.. if we get angry over that PRC calling us a dog, what about our own locals?!?!
Reply
o
Vasellia Subhash said
March 27, 2012 at 5:16 pm
She likens us to dogs, expects us to be segregated from society by suggesting that we be isolated in a separate train cabin and the PAP MP expects us to merely move on? She highlighted the fact that her account was locked. She’s only sorry she got caught. It’s very disheartening to be subjects of mockery on repeated occasions. The idea behind this is not an eye for an eye but more of creating a widespread caution to those who instigate racial unrest. Of course, the future will meet more people who test racial fragility but this incident will better equip others who want to stand up against the types of Shimun Lai.
Reply

Yiling said
March 27, 2012 at 5:50 pm
This whole saga is over-exaggerated and everyone is making snide remarks over the mistake she has made as though they’ve never made racist comments before. What she is said is indeed demeaning and she is already facing the consequences for that. But the fact that everyone is adding fuel to fire as though they’ve never made racist remarks before is equally atrocious. This incident serves as a lesson learnt for everyone to not make racist comments especially so on the internet, but that doesn’t mean that it will ease any racist sentiments in them.

Vasellia Subhash said
March 27, 2012 at 11:38 pm
This is the voice of a community; a community that is part of the four main races in this multicultural island-state. How is the voice of a community an exaggeration to you? Can you not sense the pent-up frustration? It’s collective, really. And, I find a pressing need to clarify this. No one is trying to saint himself by declaring that he has not passed a racist remark before. People make jokes; people mock. It is part of the human psyche to be critical. But, most of us practise responsibility and respect on where and how we express our thoughts/ideas. It is easy to misinterprete her intentions on a social network giant such as Twitter. We judge her based on her statements (a highly enraged one laden with profanities, while at that) It’s inevitable; don’t question.
2.
Alex Wong said
March 27, 2012 at 4:11 pm
https://www.facebook.com/shimunxz?ref=ts
Reply
3.
charan said
March 27, 2012 at 4:15 pm
I doubt if she’s real Singaporean or PRC..!!
Reply
o
Bernard Wang said
March 27, 2012 at 9:10 pm
How about Malaysian?
There are after all thousands of Malaysian students studying for free in Singapore.
Reply
4.
Geetha said
March 27, 2012 at 4:18 pm
My question would be deriving from the PAP MP’s comment. The person who made such a racial comment is not a child who does not know right from wrong. She is a capable young woman who can qualify to be a PRC in Singapore, who is smart enough to get into a course in our local polytechnic. So to say that she apologizes n we should just let it be is an insult to our intelligence. Would it be a same reaction if an Indian PRC had made an exact comment on our Chinese PRCs? I’m not saying that we have punish this girl. But such incidents are happening too often. We need to make an example for future generations to understand that it is totally unacceptable to demean any race in our country. At the end of the day we need each other, & we are Singaporeans.
Reply
o
Hari said
March 27, 2012 at 9:04 pm
well according to the MP, we can make remarks and say sorry. Everyone will forgive and move on.
Reply

Roy said
March 27, 2012 at 11:30 pm
well said
o
Viknesh G S said
March 28, 2012 at 12:13 am
Exactly.You’ve got to love how there are double standards.Time to leave the country guys.
Reply

SIM said
March 29, 2012 at 6:47 am
Goodbye!
5.
SarasJeeva said
March 27, 2012 at 4:24 pm
Just because the derogatory comment was targeted at the minority race “we should accept it graciously and move on” huh? Wow.. Democracy indeed. It’s really disgusting that a harsher punishment is not being issued to her which will set an example to the rest to think twice before posting a racist remark anywhere. Don’t tell me she’s just going to be counselled cos she’s not a 5 yr old.
Reply
6.
spotlessleopard said
March 27, 2012 at 4:28 pm
All racist should be punished regardless of Nationality….it is appropriate to note that “Classcism” by measure of WEALTH and POWER is however encouraged….the Class divide is widening at an alarming rate.
Reply
7.
Kamal said
March 27, 2012 at 4:40 pm
Wondering If This Was an Indian Girl Talking Bad About Indians Will MP. Lim Tell This Same Think??
Reply
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Kamal said
March 27, 2012 at 4:41 pm
*About Other Races in Singapore.
Reply
8.
Kamal said
March 27, 2012 at 4:48 pm
I’m Sorry Let Me Post it another One More Time Because of the typo in my previous comment:
I was Wondering if Only it was an indian Girl who posted Racist Remarks about The Chinese or any other Community Will MP Lim Biow Chuan Say the Same thing..
“we should accept it graciously and all of us should move on.”
I Truthful Hate this Words From You Sir.

Hoaxsters should be dealt with by the law

The rumours and alleged attempts to kidnap children have hit the main media today. Police have conducted their investigations and 5 people have been hauled up for spreading hoaxes about the kidnapping. Police confirmed that till do date no children have been kidnapped.

The ST reported 6 cases under investigations and two have been confirmed as hoaxes. The other four are still under investigations and police are calling for more information on the cases of alleged abductions. Those with information should contact the police directly.

In the meantime parents should still be very careful and keep a watchful eye on their children. Don’t let them out of sight. Though no children has been kidnapped, the alleged attempts are still under investigation and could prove to be real. Until the investigations are over, it is better to be on the alert. The police have not confirmed that the alleged attempts were hoaxes or not real. No kidnap does not mean no attempts. The latter is waiting for confirmation.

Have no fear, or Fear Not

The appointment of Davinder Singh to the board of SGX has become a controversial issue with professionals commenting on the righteousness of the act itself. Davinder has since been redesignated as a ‘non independent director’ from an independent director. Still some are still arguing that there is a conflict of interest and it is just not the right thing to do. Narayana Narayana wrote an article following Prof Mak Yuen Teen on the same subject. In this latest article dated April 1 to the Business Times, Narayana quoted 'Quis custodiet ipsos custodes' or in modern parlance, Who will guard the guards themselves? I think he deliberately chose April 1 which is very meaningful.

The flogging of this matter boils down to a deep seated suspicion that people who are connected by some relationship should not be involved in fiduciary duties that might lead to a conflict of interest. And the assumption is that human beans are fallible and can be tempted as they are not godly. So it is best that such relationship should not be allowed to exist, to free the individuals from committing acts that could lead to unpleasantness. Even if they were to act righteously and honourably, sometimes little mistakes happened and finger pointing is easy, one plus one equals two. Thus it is prudent and advisable that no one be allowed into such a sticky situation to be compromised through no fault of theirs.

Why put oneself in such a precarious situation when anything wrong can be used as evidence to say ‘I told you so.’ It is like the Chinese saying, ‘Jumping into the Yellow River would not be able to wash away the accusation.’ The wise will not put themselves in such situation and waiting to be persecuted in a matter of time. Only the reckless will think it is okay, beyond reproach.

Such thinking or logics are only wise to the lay people. When one is above the law, when one is in a station that is unquestionable, such considerations are often unnecessary. Eminent lawyer like Davinder Singh has everything in the world, and his reputation is worth his weight in gold. He is absolutely trustworthy and would not compromise himself or act in such a way that would lend his name into ill repute. He is a rare breed of individuals that have attained such infallible credentials.

There have been many similar situations like this and nothing untoward has happened. This only proves that if you have the right people, the honest and highly reputable people, you can trust them not to do anything silly. They will uphold their names and reputation and will not cross the line to get themselves into shitty situation.

The call for caution in the Davinder Singh’s appointment is thus unnecessary. No amount of regulations or law can prevent a crook to be crooked. But for honest and upright men and women, you don’t need any law or regulations to keep them straight. 'Quis custodiet ipsos custodes’ is only relevant and applicable to the common folks that are weak in spirit and will easily crumble by the temptation of man.

Have faith, fear not, trust me.

Just an after thought. We have this brilliant policy of paying people enough to prevent them from corruption. We can actually extend this policy to prevent people from committing crime by paying them for what they want to stop committing crimes. Just set up a crime prevention fund and allow these potential criminals to draw or demand the amount they need to stay away from crime. We could become the first crime free country in the world, without policing.

4/02/2012

Uproar in the Sports fraternity

Leadership renewal is the way to go and no one is allowed to hold office for more than two terms. And the local talents are crying foul. There are just not enough talents to round. Wrong, there are plenty of talents to go round. And if the locals are not coming forward there are many foreign talents available and eagerly waiting to fill their shoes.

Unlike the political leadership when foreign talents are not allowed to participate unless they change to pink ICs, why would people want to hold on to their leadership position forever? They can still be helping the sports if they have the passion to serve. Just create some advisory titles or senior this or grandmaster that and they can be in for life. There is no money there.

If these passionate souls want to serve for life, try politics. In politics, there is real and genuine short of talents and they can be in politics till they kick the bucket. Politics is a life long thing, with good money and pension to go with. Why would they want to serve in sports organizations when there is no money?

Passion for the sports! Oh, I can accept that. Idealism and good aspirations, and definitely a lot of sacrifice, spending own money and time. Good people but must give way to new leaders. Hopefully not tin cans. Those sports leaders with their experience and commitments, should seriously join some political parties and stand for political office. And maybe when elected to Parliament, they can change the policies that they think are not the right thing to do. One thing for sure, no two term problem. Can stay as long as they want.

The good life taking shape in paradise

A 3 rm flat at 635 sq ft or the size of 5 car parks and costing nearly a million dollars hits the front page of ST. This is smaller than a 3 rm HDB flat. But this is quality living for Sinkies. Sinkies just need a little getting use to, and if the media or some clever people were to tell them this is quality living, they will soon believe it. And soon a long queue will be formed for such quality flats. And a lot of talented ideas were incorporated into the shoe boxes to make sure that the quality of life will not be affected. The higher price is for the ingenius ideas that were built into the box.

And buying a car is out of question with all the money ploughed into such quality flats. The new mantra, small is good. Car ownership is bad. Public transport is cool. Or let’s return to the old practice of car pooling.

I am going to work with my architect friends to design tube living. The Sinkies only need a place to slot his body in and nothing else. No need to accumulate all the junks to fill a big flat. Tube living is the future, very futuristic. Pay a couple of movie stars to slip into one of the tubes and Sinkies will believe that it is cool.

Each HDB room size could easily slot in a dozen tubes each with individualized temperature control and personalized pee pot. The pee pots can be decorated with anything, pop star photos etc. And there is no fear for lack of space for leisure. More quality parks will be built for those living in tubes or shoe boxes. Back to the 50s and 60s they were called cubicles. Come to think of it, instead of calling it tubes which will waste a lot of space, design them like elongated cubes or cubics.

Cubicle living can take on a quality form and style. Cubic living can be the new way forward. The cubes need not be much bigger than a kennel. And because of its size and weight, it can be moved around to be nearer to their pet dogs as well. Then no one can accuse them of ill treating the dogs. Put the cubes beside the kennels and share the meals. Great bonding between human beans and dogs or between dogs and dogs.

April 1 price hike in electricity

SP Services has increased electricity tariff by 4.3% to a new high of 28.78 cents per kWh. It is all due to higher fuel and gas prices. Can’t be helped.

Chan Chun Sing’s Lanfang Republic

‘Was it because over time, they have degenerated into different groups fighting only for their own interests?
Was it because the society was broken when those who have and those who can, did not take care enough for those who have-nots or cannot.
Was it that the leaders and the people did not share the same values any more? Maybe it was all these and more.’

This is a paragraph taken from Chan Chun Sing’s famous speech to PAP’s stalwarts before the last GE. He was telling the story of the Lanfang Republic in 18 century West Kalimantan and questioned why a flourishing little state failed to exist beyond a 100 years. And he threw up the few questions as the probable cause of the demise of Lanfang.

He was relating to the Lanfang state that shared many similarities with our little island and how this island state could avoid the pitfalls of Lanfang. Would this island state still be around in 100 years? Or is it facing the same set of problems, self interest, inter group fighting, disconnect between the rich and poor, and leaders not sharing the same values as the people?

Our income gap is the widest in the world, and infighting is starting to show. Not sure about self interest. The disconnect and different values are glaring. The people are to survive on peanuts while leaders find it tough to live on $50k pm income. And praising the people’s ability to buy a 2 rm flat with $1000 pm income only highlighted the disparity and divide. The people and the leaders are having different dreams.

What I can say is don’t worry. We are different, or at least we are very different in that we have the best talents to rule the country. And we are depending on the number One superpower to be our guardian angel instead of a declining power. And no other power is more powerful than our guardian angel. We are safe. The people with $1k income and 2 rm flats are equally happy with the quality living. The leaders may be a bit unhappy with $50k income but bearable. We will survive pass 100 years.

We also have the advantage of more foreign talents to take over the country from the lesser talented locals. The island will exist forever. Wan sui, wan sui, wan wan sui.

4/01/2012

Not seeing the woods but crying over the trees

Cherian George continues with the episode of smelly bodies and Shimun Lai in the ST today. He also recalled the unfortunate UOB dinner and dance incident when a little mimicry with no bad intention or could be seen as flattery was accused of racism. And the cry for the lynching of Shimun Lai has still not subsided while the real issue that led to the outburst was brushed aside completely.

Cherian George also acknowledges the issue of bad body odour in Indians though it is not the case. Everyone, I say everyone, smells if not wash properly. This has nothing to do with race though some are prone to smell differently depending on their diet and the environment, and of course social habits and standard of personal hygiene.

The crux of the matter is that smelling bad is offensive. And in a highly congested city, in the jam packed trains and buses, my god, pray you don’t have to be squeezed in between a couple of smelly bodies. This is no laughing matter. Imagine the smell could hit you 2 metres away and one is less than a face away.

Why is there no follow up as to how to minimise this social problem? Shall the society or the commuters just accept that smelly bodies are one of those things and have to live with them? Graciousness, first world? Can something be done to minimise this unpleasant encounters by commuters?

No one will welcome a smelly person into their midst or into their homes. It is to the disadvantage of those who smell to find themselves being ostracised. There have been many encounters in working environment in Raffles Place and Shenton Way as well and not only in the dirty construction or sewage industries.

My simple suggestion is to educate the affected to wash and clean more often. And washing and taking a bath first thing in the morning is a must and could help quite a lot. It is unfair to blame others for being rude when one walks around carrying and sharing the bad odour and expecting people to live with it. There is no need to spend a lot of money to keep clean and don’t smell. There is no need to pour a bottle of armour or scented water on one’s body. Just keep it wash and clean.

Or shall everyone just shut up and pretend the problem is not there and when one comes along, pinched the nose and give the person a dirty look? The smelly problem is there and is not going away by pretending it is not there. The lynching of Shimun Lai will not solve the problem. It only encourages the smelly to think it is alright to smell wherever they go. Just don’t talk about it.

Anyone thinking of a solution or wanting a solution other than crying father and crying mother?