Stop immigrants - Australia

In the ST today, 50% of Australians in a poll wanted to stop immigrants into Australia. They fear that more immigrants will cause stress to the country’s infrastructure as well as unemployment problems.

How could Australians be worried about over population? If they do not want the new immigrants, Singapore is waiting with open arms. Send them over, we can continue to grow our population to create more growth. Yes, more population means more growth. Can’t the Australians understand this simple economic principle? Australians stupid or what?

In another 20 years Singapore will have a bigger population than Australia and our economy would probably more than triple than what it is today and leave the Australians far far behind. And every Singaporean will be a millionaire.

The Hougang brawl slipping into the longkang

It started with a few swipes at each other. Now the swipes are turning a bit dirtier. Forget about a gentleman’s fight. It is looking to be another great crass act when all the knives will be out soon.

The Hougang leak is just the beginning. It is conceivable to see video clips to go viral in the follow up. Then there will be the iphone taps, the insinuations in cyberspace, and who knows, compromising photos may even appear.

Would the family lives of both candidates be aired as well, the who’s who being connected and the ugly episodes being staged one by one? The primordial instinct to want to win, come what may, is the dominant characteristic of how man will behave in a fight.

The people of Hougang and the rest of the citizens will be treated to an exciting free for all show down. Both candidates could crawl out of the ring covered in dirt and shit by the time the election is over. Great script and great directing and great supporting casts.

The Ferrari and Hougang by election

What has the Ferrari accident got to do with the Hougang by election? Someone emailed a story of a Hougang voter’s encounter with an old man. I am not sure if this is true or just a story. The gist of it is that the Ferrari was going too fast, just like the way the economy is being pushed to fly. And if the driver refused to put on the brakes, come what may, even when he saw the red light, the poor bugger that is going to be killed will be the innocent taxi drivers and passengers. The taxi driver was just going on his life, struggling to earn a living, even at 4am. How would he to know that there was a crazy driver that refused to stop even when the red light was on?

Now, who can stop such crazy drivers, or what can stop them? You need a good co driver beside him to tell him to stop when needed to. And to be effective, the brakes must be working as well to allow the co driver to pull the brakes. If not, if there is no brake or no co driver, the crazy driver will just go about driving crazily. And many taxi drivers/passengers could end up as collateral damages, not knowing what hit them.

The email story said Hougang is like the brakes. You need the brakes in an emergency. You also need the co driver or more co drivers. And remember, taxis got no airbags, no social security when a big bang happens. There is nothing to protect or act as cushion. And make sure the co driver is not a little girl that is infatuated by the Ferrari and the driver and enjoying the wild ride.

The story ended by asking the people if they want more brakes and co drivers or want to be another taxi driver that ended up as statistics. And the moral of the story is….Don’t drive too fast, slow down a bit, watch out for red lights. And stop when the red light is on!

Quite commonsensical really, unless one is high on drugs or drunk.

Why bother with money laundering?

WEDNESDAY, MAY 16, 2012


Civil Society, Business Groups Call on Congress to Support Incorporation Transparency, Ban Anonymous U.S. Shell Companies

From the FACT coalition, Global Witness, and Global Financial Integrity.



Civil Society, Business Groups Call on Congress to Support Incorporation Transparency, Ban Anonymous U.S. Shell Companies



Legislation Enjoys Support of Law Enforcement, Obama Administration; Would Clean-Up American Financial System



May 16, 2012



WASHINGTON, DC – Today, 41 business and civil society groups sent a letter to every member of the U.S. House of Representatives and U.S. Senate urging them to co-sponsor the Incorporation Transparency and Law Enforcement Assistance Act (S. 1483/ H.R. 3416). This bipartisan bill, which is endorsed by the Obama Administration, would require companies to disclose their ultimate owners at the time of incorporation, making it much harder for corrupt politicians, tax dodgers, terrorists and other criminals to form and hide behind anonymous U.S. shell companies.



The signatories1, who include, among others, American Sustainable Business Council, Calvert Investments, Citizens for Responsibility and Ethics in Washington, Citizens for Tax Justice, Financial Accountability and Corporate Transparency Coalition, CtW Investment Group, Domini Social Investments LLC, Friends of the Earth – US, Global Financial Integrity, Global Witness, Human Rights Watch, Jubilee USA Network, Main Street Alliance, Oxfam America, Project On Government Oversight, Revenue Watch Institute, Sunlight Foundation and U.S. Public Interest Research Group, are concerned that it is legal to form companies in the United States with hidden ownership.



The letter states:

Increased corporate transparency would curb corruption and tax evasion, promote an equitable market economy, reduce the opacity of corporate campaign contributions, help ensure a fair and level playing field for small- and medium-sized businesses, foster global development and enhance national security…



Investigations continue to reveal that American and foreign terrorists, narco-traffickers, arms dealers, corrupt foreign officials, tax evaders, individuals targeted for financial sanctions and other criminals easily and regularly set up U.S. shell companies, without providing any information about who owns or controls such companies...This enables criminals to disguise their identities behind the anonymity provided to U.S. corporations and launder dirty money through the U.S. financial system.

The full letter can be read here.



Corporate secrecy fundamentally undermines U.S. laws to combat money laundering and tax evasion, as well as U.S. efforts to tackle global corruption. A recent World Bank report found that the U.S. was a favorite destination of corrupt politicians trying to set up shell companies to access the financial system. Once corrupt and other illicit funds have been moved through an anonymous corporate vehicle into the financial system, it is much harder to track them down. Shining a light on the ultimate owners of companies, would make it easier for law enforcement to do its job. To date, eight law enforcement organizations, including the Fraternal Order of Police and Federal Law Enforcement Officers Association, have endorsed the legislation.

The above passage is part of an article posted in the site Tax Justice Network, an international NGO that is concerned with tax evasion, money laundering and the damages these caused to the ordinary citizens. It seems that the US is a favourite playground for money laundering while the US Govt is making a show of it by making fools of other nations, pressuring them to enforce strict regulations against money laundering. This is exactly the same modus operandi it adopts in calling their enemy nations as aggressors or warmongers when the US itself is the most aggressive warmongers today, creating tensions, starting wars and fighting wars. It screams danger when smaller countries try to acquire arms or nuclear weapons for their national defence while it is the biggest exporter of arms to the world and holds the largest collection of nuclear weapons and weapons of mass destruction.

The treachery and hypocrisy of the Americans are beyond reproach. Only dumb countries will believe the biggest international gangster and do its bidding, to waste valuable manpower and resources to police money laundering in their little countries when all the major money laundering activities are being conducted in the US.

The Hougang brawl so far

I won’t use the term debate, discourse or election campaign, or anything that will give some semblance of maturity or respectability in the things said at the rallies so far. It is unbelieveable that so many childish and impish taunts and threats were aired as if they were clever points to make, by serious adults.

The kopitiams were full of laughters as they imitate or parrot the things uttered at the rallies. My gosh, are we seeing little children trying to score points against one another in a primary school debate? The secondary school debates were definitely several notches above in terms of lucidity, cogency and thoughtfulness in the points raised by the debaters. And here we are supposed to have a national debate by seasoned politicians. And what were they bitching about? The points were so parochial and pedestrian. Do they know that the school debaters out performed them in every point made. Put the school debaters and the politicians side by side, it is simply a mismatch, and in the favour of the school kids.

I can’t be proud of what I have heard so far. It is like trying to make a snide remark whenever the other party said something that is marginally ambiguous or with some loop holes to exploit. This is quality, we are progressing, raising political debate to a higher level. It is crass politics at its best.

F-35 Lightning II, another American con job

The F-22 Raptor, reputed to be the most modern and advanced multi purpose attack aircraft, is facing a mutiny. American pilots are refusing to fly this aircraft for fear of their own safety. Many dangerous situations have cropped up in flight with oxygen supplies being terminated, and in once case leading to the death of the pilot. Pilots have complained of blackout while flying, my goodness.

Now the American arms industry is pushing for the ultra expensive F-35 as the must have. Actually all these claims were bullshit. The specs of this latest white elephant, and those that came before, is nothing really special, but to match an imaginary superior Russian aircraft that the Americans need to be better of. What a load of rubbish. But the industry will keep on building a bigger and bigger demon and to con the Americans to pay for a bigger and bigger fictitious respond. This strategy is applicable to the other arms as well.

It is good for the American image, for the aircraft manufacturers and a lot of money to go into someone’s pocket. But who is paying? The tax payers are paying billions and trillions for a few pieces of toys claimed to be the best but never be so as newer ones will come on line and asking for more to be paid.

This is another big American con job. And not only the Americans are made to pay, the Allies are also made to pay as if without these aircraft they will lose their country or lose a war. Where is the war? Oh yes, coming, the Americans are going to start a few more in the neighbourhood and states will go to war and will need more advanced aircraft. More advanced than what, a Piper Cherokee or a Cessna?

To cut the story short, there is plenty of money to be had with such hype and by raising tension or starting wars. Russia and China could exploit this American weakness by playing up their own superiority, build imaginery superior aircraft, ships or land weapons and let the Americans chase after the shadows. The Americans love that kind of challenge. Oops, the defence industry loves them and will blow them out of proportion to make the American taxpayers pay for them. And they will spend themselves to bankruptcy much quicker.

Policy change in the main media?

In the last GE the main media was seen as providing a more decent coverage of opposition parties’ election campaign than they were used to. This went down well with the readers for a fairer game. When I flipped open the papers this morning, there was no denial that there was a deliberate shift in the coverage. It was so stark that there is no need to guess or to think where the sentiment lies.

Take the ST for instance, front page says, WP ‘chose not to send Png to Parliament.’ In page A6, a full page of coverage with headings like, ‘Voters free to pick best man’ and subheading, WP already has 5 MPs, Democracy is being free to choose: Denise Phua. Next, WP ‘changing tunes and taking Hougang voters for granted.’ The last two articles were titled, Desmond Choo on why he stayed on despite GE defeat and Parties keep up outreach.

Where is the coverage on WP?

And in Today, the headings, WP flip-flopped on national issues: DPM Teo. The next article on the same full page on the by election, with pictures of DPM Teo and Desmond Choo is, Will WP still serve Hougang if it loses, asks Desmond Choo. I was trying to find something on the WP, but again nothing reported.

And in mypaper, on page 2, Hougang voters value honesty, integrity most in candidates, says reporter Samantha Boh. The article is about how Desmond Choo can deliver and also about how clean he is. Another full page on page 4, Choo: Hougang belongs to residents, and another, Being scandal-free ranked low in poll. There were some mentioned of WP activities at the end of the former article though and one photo each of Desmond and Png.

The message is clear as to who should deserve more coverage in the main media. The battle line is drawn.

PS. Still searching for reports on the mammoth turnout at WP rally. If only it could be turned into votes. Maybe the majority were PAP supporters being there to give the WP a false sense of confidence.

Hougang does not matter, really?

Would the result of who wins Hougang really matter at all? A WP win will add the tally for opposition MPs from 5 to 6. A PAP win will add the PAP’s majority from 81 to 82. So what is the difference?



PM Lee: Whoever wins Hougang by-election will not change the basic picture in Parliament



And he is telling the truth. Hougang is non issue, inconsequential. The WP will remain an insignificant minority party that would need a loud speaker to have its voice heard or it would be drowned out by a cacophony of laughters. As for the PAP, all the bills will be passed, constitutions can be changed at will as it still holds more than two third majority.



So, is the Hougang by election a waste of time? Yes, it is. At least for the term of this Parliament, nothing will really change. At best there will be one extra vote against unpopular bills. At betterer than best, there will be one PAP MP in the name of Desmond Choo that would speak for the Hougang people, but would he still vote for whatever the PAP tabled even if he is against it, spoke against it, or if the Hougangkia did not like it. How can any MP be effective when he cannot vote against a motion by his own party? Such MPs will be as ineffective as the bloggers, only can kpkb for a bit of wayang.



Hougang is immaterial for the short term. Hougang is only meaningful in the longer term. Hougang is like a glimsp of the future, a statement from the people of what they really want or who they want to represent them as the govt of the people. A vote for the PAP is an affirmation that the PAP is the right party to stay and run the country. A vote for the WP is a statement that change is needed, whether a regime change or a change for more opposition MPs to check the govt and have a govt that is more representative of the whole spectrum of the population, not just for the winners and the elite.



But there will be many minor issues that will distract the voters, some very personal and private, some very mundane, some over a bowl of porridge or a hearing aid, or some because they have stood their ground for fairness and democracy. Would the larger good of the people and country take the main stage? Would the WP be able to raise the thinking of the Hougangkia to a higher level, to see further over the horizon? Or would the Hougangkia be convinced that it is a non issue, vote whoever you like, or vote for a little goodie or handouts? It doesn’t really matter, really.



And the big turnout were there just for a party, just for fun? Daft Sinkies do not think politics or politics is not something that bothers them. This Hougang could mean more good years, depending on who you are. Hougang could also mean a stamp of disapproval of the PAP. If the later comes true, Hougang will be a very significant milestone in our political development and political history. The PAP will be history in 2016 if the WP could add on to their previous gains.



What will Hougang foretell in a week’s time? Whatever, it is best not to dismiss Hougang as inconsequential.

Rar Art - A Life Time

This is a piece of very complex rar art. It combines a blending of colours, criss crossing of lines and strokes and layering. All these features come together in a harmonious way without anything looking out of place. The colours are beautiful, the strokes are mature and well executed while the layering gives it depth and complexities.
There is a couple in the centre of the painting and it looks like their whole lives were unfolding in front of them. As one views the painting slowly, more and more images will appear to tell a series of stories of the lives of the couple. Take your time to enjoy this beautiful creation of Mother Nature

A different perspective to population growth

We need population growth to generate economic growth to enjoy a better quality of life. This is the biggest bullshit to come out from any sensible person. Population growth is not the only factor that leads to growth and a better quality of life. The sure things about population growth are inflation, congestion, higher demand for goods and services and many undesirable social and economic consequences that cannot justify the little benefits of growth.

Take a continent like Australia as an example. If with 50m, they can enjoy the whole continent, be productive enough to grow all the food and wine to make merry, why do they need to rush the population to 100m? If without population growth, maintaining at 50m for perpetuity, and they can produce a bit more for each person to better their life, what is the point of producing 100 times more to feed 100m people but did not live better except for a few super rich?

Coming back to home, if with 2m people, the people can have all the space to live in bigger properties, and own cars with more roads to drive around, and they could produce more goods and services to raise the quality of life, why do they want to push the population to 5m or 10m to have lesser space to live, cannot own cars but only to work ever harder to feed a population of 5m or 10m? 

What for? Because the economists say there is no growth? If the population can be maintained at 2m, and everyone has a bigger property and two cars to go with, no traffic jams, and higher skills of people, goods and services produced are getting better with higher productivity, who the shit needs another 3m or 5m people to take away all the land and roads and landed everyone in shoebox flats and car ownership becomes limited only to a few? 

I think the thinking is too simplified. What kind of growth, what kind of progress, what kind of quality of life? If every leader in the world subscribe to the population growth formula for a better life, the whole will be destroy at double quick time. Nature has ensured that population is controlled and not allowed to growth indiscriminately by throwing in many measures to keep it that way. If a better quality of life is simply to have more people, there is no need to have super talents or smart people to run govts.

The situation in Europe is slight different. They could continue to have a good life by being creative, innovative, improving knowledge skill and productivity with a smaller but able population. But they conned themselves into allowing less productive immigrants to fill the ranks and bloated the population base.  They have reached a turning point where the Caucasian or Aryan stocks are being depleted by lesser stocks. This will bring about their demise as a self inflicted cancer. Japan will shrink its population but will continue to enjoy a better quality of life without being adulterated with lesser productive stocks to bloat its population. A smaller and leaner population is good for them.

 If we are not careful, we could end up in the same way as Europe. Irresponsible and mindless increase of population is like drug consumption.

JP Morgan Chase is the best

Obama has about US$1m deposit in JP Morgan Chase. And he is so confident of the bank to praise it as one of the best managed bank in the US. If JP Morgan Chase is one of the best and losing US$2b due to a flawed risk management formula that they have relied on, how many lesser well managed American banks are waiting to implode? Or is this a case of American is best, even when they can fouled up to such an extent?

How many high net worth private investors are licking their wounds for their blind faith in American financial wizardry? How many Sinkies are still staunch believers while privately cursing at the money they have lost from listening to American bank advisers?

Come to think of it, like Obama said, what is US$2b? There are many very well run funds losing tens of billions or hundreds of billions and still crowing how well their funds are being managed. Losing US$2b is chicken feat, a great achievement really, seriously, honestly. Just don’t check my books. The American banking and financial system is the best. They have exported this great formula of success to the world. The last port of call is China, before curtain’s up.

Blessed are the believers.

Hougang - A very strange feeling

I got this gut feeling but not sure if everyone feels the same. There is Desmond Choo out there in the trenches at the front line fighting. And he is telling his superiors to leave him alone, to let him fight his own battle. Is he really that confident that he could win this fight without the big guns? Or is he worried that the big guns will do him more harm than good, like killed by friendly fire? In football parlance it is called scoring own goals.

Could the big guns instead of hitting the enemies, landed on their own troops. The first minister that spoke in the by election is Boon Wan. And he is drawing more fire from the critics. Who is next to speak and to draw more fire to himself and Desmond Choo?

This is the gut feel that is bothering me. Ministers used to lend their weight to a candidate to make the fight easier. What if the minister himself is unworthy or not seen as credible and anything he said could only make things worst? Can this be the case in Hougang? Is there any minister that could speak out and win more grounds for Desmond Choo instead of doing him in?

The whole ball game has changed. How could Desmond Choo depend on the big guns when the big guns are a suspect and could be better off to stay away from him?

Coming to terms of being a loser

This FT smashed his $1.5m limited edition Ferrari to prove how good he was in road racing, so it was reported. Though he killed three innocent people in the process, he hit the newsstand as a young and handsome, successful and rich foreign talent. And they even ogled at the wealth he left behind, a luxury BMW, multi million dollar condos. Who cares where the money comes from? It was reported that he was a very clever investor and made his own fortune. Though there were suggestions of mafia links and money laundering, these were not important in a city state that worshipped success in terms of money in the bank account. More of such successful talents would be welcomed to shore up the property prices and the COEs.

At the other end of the spectrum, there was this retiree lamenting and complaining about a hefty $83 bill he was served with at the Alexandra Hospital’s A&E department. He was also unhappy that the parking fee came to a whopping $6. How could the hospital charge $6 for parking.

The widening gap of the rich and famous living it up and the losers trying to make every dollar counts, no longer making cents count as cents were practically worthless, is raising its ugly head. Throw a few coins on the road no one will bother to pick them up. Throw it into a beggar’s hat and he would frown.

For the loser retirees, they have yet to come to terms with living in a first world city state among the rich and famous when a tip to a doorman could be $50 and to a nice waitress could be more than enough to pay for the hefty hospital bill with plenty of change left. If the retirees are living on their pensions, sorry lah, unless the pension is millions of dollars which some privileged yodas are getting.

A $100k COE is simply peanuts. A few million bucks for a private property is small change. Where did the money come from? The money seems to be floating everywhere, as abundant as hell money. The moral of the story, as told by the elite, live within your means and stop kpkb.

Wealth creator versus wealth manager

Ngiam Tong Dow has spoken of the need to have more wealth creators instead of wealth managers. One is creating wealth and the other is just managing the wealth. He made a false assumption that wealth managers are there to manage the wealth, ie to ensure that the wealth will be there or at least not depreciating. This assumption has proven to be drastically and painfully wrong if we look at the bigger picture especially those coming out from the US.

Many wealth managers are basically gamblers. They are just placing chips everywhere and hoping that there will be more winners than losers. If only their books were to be opened, many owners do not know the truth until the hole is too big to fill.

In reality, many wealth managers are actually wealth destroyers. Yes wealth destroyers. The first thing they do is to demand to be paid a ransom. And whether they deliver or not is not guaranteed. Most will try their best to do a good job. And when the chips are down, when the losses piled up, they take bigger bets and bigger bets, hoping that lady luck will smile on them for once. If not, just too bad. It is other people’s money on the table. They do not guarantee any winnings. The only thing that is guaranteed is the ransom that they will be paid.

Wealth creators, wealth managers and…wealth destroyers. The first is real. The latter two are interchangeable.

The temptation of Hougangkia

For more than 20 years, Hougang was like a step child, abandoned by the establishment and left to fend for themselves. They soldiered on under the leadership of Low Thia Kiang. They literally bit the bullet and accepted their fate, that for some reasons, they would be at the end of the queue for any goodies or handouts. They stood their ground. They were resolute and committed to what they believed in. Today, the pride of Hougangkia and their resoluteness are being tested.

A handsome man came along with a pushcart of abalone porridge or the best free porridge one could find. And he is yelling, this is only the appetizer. Yield to his master and he will rebuild Hougang and improve the lives of all Hougangkia. He is so confident that he could do a lot of good to the band of drifters. No one has yet to ask him where is the money coming from. Everyone, including the young man, takes it for granted that the money will be there to turn Hougang into a Disneyland.

Will the knees of Hougangkia turn soft to the temptation? Will the step child turn into the favoured child of the favourite concubine? That is what Hougang will become if the young man is elected as their representative in Parliament. Hougang will be the new favourite child and bestowed with all the sweets and candies in the candy shop. And Hougang will be represented in Parliament and their voice will be heard.

The last nail going in

We used to have a healthy and vibrant stock market and a finance industry supporting several thousands of professionals and supporting staff. The market used to be plodding along happily in its own steam with steady growth and an envious reputation of a successfully run system. This was despite the fact that it was a very small market with relatively small number of stocks and small number of investors.

There were some unique features in the system that allowed the stock market to function the way it was, punching above its weight like they used to say. The market thrived on volumes and demands over supplies. Where were the volumes and demands coming from in a small city state? There were two unique features that made this possible, remisiers and contra trade. The former took on the role of ‘ah long’, taking high risk, to extend credit facilities to their clients which no banks would want to do or allowed to do, too risky and without collateral. But it worked most of the time, based on trust and knowledge of the client’s ability to pay for losses. This allowed the clients to trade many times more than they were able to without being limited by upfront collaterals or cash deposits. It worked. The market was alive.

Contra trading also facilitates liquidity in the market. Clients could take positions and settle the differences when they squared off their positions. It used to be more than 14 days, and that gave the clients more room to manouvre. The longer the exposure, the greater would be the risk, but also more chances of market changing positions. In a way contra trading played the same part as remisiers in allowing clients to take bigger and more positions than they were able to if trading is restricted to money upfront. For a small pool of investors in a small city state, contra trading allowed the trading volume to appear tens or hundreds time larger.

Between the credit lending role of remisiers and contra trading, the market was able to trade with much more volumes than it could otherwise do. Doing away with remisiers and contra trading would be like knocking in the last nail to send the stock market into the incinerator.

No, apparently the smart alecs don’t think so. They believed that there is no need for remisiers and trading could be done online by computers. The shallowness of such stupidity has proven itself, and online trading is still standing on the high pedestal as a white elephant, too high cost to operate and for too little return. And there were all the other factors that made online trading ineffective and unworkable as a business model. It is history. It is also a reminder of where the market will head if people with little knowledge of how the market works make the decision. And there will be people who know but kept quiet, follow orders as long as they are paid, and do the master’s will.

The next attempt is to do away with contra trading. It is too risky, reduce the duration of exposure. Traders still have 5 trading days to square their positions. And there is no collateral, too risky. There were bad cases of bad debts. This too must be taken care of. Margin trading could be a solution. Better to do away with the remisiers altogether.

In all businesses, there were risks involved and bad debts could be incurred. So far, all the bad debts were manageable and were part and parcel of the business. The bad debts were not in the proportions of hundreds of millions, billions or tens of billions like the losses of well managed funds and banks. If bad debt is such a serious concern, all the big funds and banks should be closed down or not be allowed to take those risks. How come their colossal losses were acceptable as part and parcel of risk takings and taken in their strides as clever investment strategies but losses of small investors were unbearable? How come the few millions of losses by a few individuals in an industry of a few hundred thousand players were seen as so fearsome to live with?

There were rumours that contra trading would be replaced by CFD or contract for difference. What’s the difference between CFD and contra trading? CFD is claimed to be much better than contra trading. It allows the traders to hold their position longer, several weeks even if they wanted to. Shit, contra trading used to be like that but the length of holding to long positions were curtailed, deemed as too risky. In CFD, holding long and longer position is a plus point. CFD also can short positions. Now, why were short positions not allowed in contra trading? Isn’t this as good as saying having free sex is bad but going to prostitute is okay, both offering the same thing but the latter got to pay more?

What’s the difference between CFD and contra trading? Isn’t it contra trading in another name, another form? Oh it is not called contra trading. It is called Contract For Difference. Brilliant eh? The industry is being prepared to switch from free sex to having sex with prostitutes as a better option.

When this happens, the contra players would vanish. The remisiers too would vanish. And they expect the market to continue to thrive, bustling with billions of trades done by the computers. And the funds would still be churning the market without any suckers to pay for their expenses and profits. The funds would be happily chucking along in a stock market with practically no investors and no money to make, just to make the stock market look good for the city state.

Just wait for the smart alecs to knock this last nail in and everyone in the industry can go away. The fictitious trading volumes will still be there, an envy of all the outdated stock markets who can never dream of such volumes. But their phones in the brokerages will be ringing. The brokerages here will be as quiet as a cemetery, if any is still left standing.

Hougang is like part of a bigger scheme of things

Hougang is like part of a bigger scheme of things


Under normal circumstances this could still be the honeymoon period for the elected ruling party to ferment whatever it wants to do. The next GE is another four years away. This is the period for more increases in everything and whatever unpleasant policies, now is the time to throw them to the people. There will be some pain and unhappiness, but the people will get used to it, get over it over time. Then comes the last chapter, the pre election phase when the wounds are healed and little goodies would do the trick to prepare the electorate for more good years.

The Hougang by election must have come at an inopportune time. With this in the air, with the people getting political again and being agitated by all kinds of issues, and introducing or implementing tough policies would give the opposition a good platform to shout them down. Not doing so would have to delay it further down the road and may be too close to the next GE.

Whichever way, the temper of the people would not be given a chance to take a break. The temperature will rise again as in all elections. And expectedly, the opposition would rub the salt in wherever there is an open wound, or would open up old wounds. And it is defending time. The full backs and the goal keepers would not be able to rest or sleep soundly. Where are the goal keepers?

The other important development coming out from Hougang is the closing ranks of all the opposition parties. This is one of the rare instances that the oppositions are coming together to fight a common enemy. It would be interesting to see who would be speaking in the WP rallies. It would also be an opportunity for the opposition parties to rally together, to seek common grounds and build a closer rapport and understanding before the next GE. Hougang could pave the way for a better understanding among the opposition parties, and more give and take later on, and who knows, a united front that they have yet to forge after so many years.

Hougang could also be a testing time for people forced to reveal themselves to do damage to the WP’s cause. Many believe that there are plenty of moles in hiding in the opposition parties. It is a time to see the real stuff, the real enemies within, the desperadoes. But they are unlikely to cause a dent on the WP’s armour.

The PAP will, for the first time, be facing the opposition parties as a single bloc, speaking in unison. No more divide and rule, pulling strings here and there for the opposition parties to dance and bicker at each other. Maybe it is too premature to talk about this. It would be an interesting battle with more actors playing more important roles on both sides. All the big guns from both camps would be firing at the same time. A Tchaikovsky’s 1812 Overture in the air.

Sajeev Kamalasanan’s resignation from WP

A candidate in the last GE resigned from the Worker’s Party and made an allegation that it is ‘discriminating against Indians’ according to his press statement. How bad the timing is in view of the by election? At this point in time, every factor and matter counts to both parties and candidates in the election. To have a resignation of a key member is bad enough. To be accused of being racist may cause a lot of votes for the WP, true or otherwise. Some voters would be easily swayed by such a statement.

WP must count it as bad luck to have this incident splashing across the news everywhere. I am sure Sajeev’s resignation was not intended to do any harm to the WP. It just happened and no need to read too much into it. Still the WP would have some damage control to do.

Funny, it seems that such unpleasant things often happened to the opposition parties during a run up to an election. I hope Sajeev and the WP do not allow this matter to distract the main issues in the by election and the voters could put this aside for the moment. Alas, knowing how light the ears of the masses are, one goal has gone in.

Money, power politics and Wall Street

There is a four part documentary on the aftermath of the subprime crisis cum world financial crisis created by Wall Street in 2008. The documentary is quite lengthy and very detail in the key players involved in the crisis and the intricate handling and exposure of the toxic waste created by the brightest American financial minds, which happened to be kids really. The derivatives structured by these kids were meant to lower the risk of exposure by the banks to high risk subprime loans. But it multiplied and morphed into many other things and became a bigger risk that almost toppled the whole financial system of the world.

This documentary (http://video.pbs.org/video/2229573868/) is a must view for all regulators and govt officials meddling with their financial systems as well as finance professionals. The lessons to be learnt are many and they were obvious and avoidable but were pooh poohed away by the muscles of financial institutions and the corruption of the members of the Congress. They allowed the toxic waste to go into the system and grow without control, infecting not only Wall Street but also Main Street of America.

Have they learnt anything? With the recent loss of US$2b by JP Morgan Chase, does it tell anything? With the glorification of big earnings by the banks and hedge funds and paying themselves crazy again, do they say anything. As far as Wall Street is concerned, everything is back to normal, before crisis time, and all system is on a roll, just like the good old time. The same flawed and obscene financial system did not change a bit. Banks are still taking high risk is in derivative and proprietary tradings to make quick and easy money to pay themselves millions and billions all over again. Conservative bank practices are obsolete.

The first obvious fault of the subprime crisis was the culture of greed which led the greedy bankers to go after quick money and dumping morality and prudence in the back seat. The banks and hedge funds operators were just gambling, playing with other people’s money for quick and huge returns. And if anything wrong, like JP Morgan Chase, wait for the Fed to bail them out with the taxpayers money. They made the Fed to close both eyes, arguing that they need more freedom to execute their business. There is no need for disclosure. Deregulation and darkness fell on Wall Street. Transparency of deals by the banks and hedge funds were ignored for the bankers to hide whatever they were doing. They cooked the books, devised toxic products, engaged in proprietary tradings against their clients, all under the cover of deregulation or no regulations. They could commit mass murder in a way without anyone knowing, without transparency and accountability. All losses were reported as profits only to justify paying themselves crazily.

Without transparency, without regulations, without accountability, no one was wiser as to what was going on. The bankers kept chalking up glorious P&L, claiming billions of profits when the truth was that they were under billions of debt in taking up toxic waste and trading losses. As long as they could hide them under ingenious accounting, it was as good as sweeping everything under the carpet. And they partied and partied with ill gotten gains and kicking the problematic ball further down the road.

The simple age old wisdom that anything that cannot be told must be told as what cannot be told is simply dangerous was forgotten. That was why it could not see light and must be kept hidden. And Wall Street and the banks got away with it by bribing Congress to let them play bandits and robbers.

They even designed unfair and obscene trading systems using computers to trade against innocent small investors and no one will stand up to say it is wrong, it is unfair practice, it is cheating. And they even got their flawed and corrupted gaming system sold to the rest of the world as the system of the future, with high speed trading, derivatives and deregulation, high liquidity, high volume, high buzz and a quicker bust. They have gained access to many countries, and the stock markets are still ticking only superficially, kept alive by drips, when they are actually in the intensive ward, or nearly there.

Now the Americans are banging on the doors in Beijing to want to introduce such atrocious system to create havoc to the Chinese stock market and financial system. Would the Chinese be smart enough to say no and slam the door at the American face? They would need to seek wise counsel from the Hongkong Exchange to have a better feel of the evil in the system and the damage it is causing to the Hongkong market. There is a Chinese saying, ‘lai ze bu san, san ze bu lai.’ Pardon my translation, it basically says that those who dare to come are not easy to deal with or with ill intent. Ask a simple question, why are the Americans so forceful and persistent in wanting to break into the Chinese financial system? To do charity and bring money to the Chinese or to go in and scope everything there is in there? They have done severe damage to the Hongkong and Singapore financial market except that no one dares to admit it. The dead body is getting stiffer by the days and soon it would not be able to move completely.

Mortis rigor is only a short while away. The Chinese govt and other Asian regulators should view this documentary carefully and know what they are being led into and the dangers ahead. Would China be the last sucker to fall into the trap and become another victim of toxic waste?

Would there be any changes after this latest JP Morgan Chase failure? Some were calling for tighter regulations, invoking the Volcker’s Rule to prevent banks from proprietary trading and taking high risk. The real fault lies in the system, it is systemic, where the administrators and regulators colluded, gave their silent consent to daylight robbery. They could not see anything wrong with the system but were very clever in finding faults with the little guys. Until some of the administrators and regulators are put behind bars for being accomplices to the unfair trading practices in the financial markets, nothing will work. Never has the financial market been so deregulated, when unfair trading practices like high speed computer tradings, proprietary trading by banks against their clients, that cheating the small investors is fair game. And because New York sets the rule, the rest of the unthinking world markets just followed blindly. Were they dull or were they just having a good time with the gravy train?

Hopefully New York will set the precedence and prosecute the whole management team of NYSE for mismanagement and for allowing fraudulent trading practices into the system. Until then, the financial system and stock markets are only waiting to implode.

Buying American snake oil

Friday, May 11, 2012


Risky Systems, Dire Consequences...

Yesterday night a somber CEO had to announce publicly that his bank had lost U$2B dollars in set of complex synthetic derivatives trade,



This CEO is no ordinary CEO but the king of Wall Street, Jamie Dimon, one of the most astute bankers around. The bank went through the financial crisis unscathed but suffered heavy losses last week when a unit of the bank took on complex derivative positions that resulted in unexpected losses:



“This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed,” - Jamie Dimon, CEO JP Morgan.[Link[



If Jamie Dimon and his bank can't figure the risk they were taking, how will the rest of us ever fully appreciate the risks we are exposed to? ….



The above is written by Lucky Tan in his Diary of a Singaporean Mind blog. It tells a lot about the kind of snake oil being introduced into the financial markets around the world and how the world blindly bought what the Americans sold. Singapore is one of them. China must resist all it can from being duped by the Americans. It is just not worth whatever returns there is. It can ruin financial institutions and the whole stock market. Only duds who think they know best or are gullible enough to believe the American’s sales pitch will go in with eyes wide shut.

North Korea is Singapore’s friend

Singapore is the third largest trading partner of North Korea. Its second highest ranking leader, Kim Yong Nam, had just paid an official visit with a trade delegation and is now in Indonesia for a similar purpose, to expand trade. Indonesia is also a good friend of North Korea.

But in Singapore, the North Koreans have many enemies. These are the unthinking Singaporeans who have been fed with a diet of anti North Korean misinformation written by westerners and proudly printed almost daily in our media. And the minds of these morons have been so tarnished that when they talked about the North Koreans, they behaved as if their homes have been burnt and looted by the North Koreans or their mothers were raped by them. Such simple minded people with an empty and unthinking head are easy to be programmed to think like little monkeys.

To these people, North Korea is bad, poor, abject poverty, famine, miserable people, aggressor, wanting to start a war with every country, wanting to send their nuclear missiles to attack them. Funny, do they know where is North Korea? Or do the North Koreans even think that these people exist? No, the North Koreans don’t even know of their existence and have had nothing to do with them. But why the hatred? Why did they think, or think they knew so much about North Korea to hate them? Daft is a very appropriate word here. Their whole thinking and mindset have been programmed for so many years that they are behaving exactly as what the programmers wanted them to behave.

Singapore is the third largest trading partner of North Korea. What does that say? Singapore’s leaders have been visiting North Korea frequently and the North Koreans too are visiting the island just as often. It is fortunate the leaders of Asean have not turned into puppets on a string and be made to dance by the puppeteers. They know that North Korea is just another country living its own way of life. And Singapore’s initiative to bring the North Koreans into the main stream of international relations like what it did to the Myanmese is the best way to go forward. Embrace the North Koreans and integrate them into the international community. Not threats of war and sanctions like hooligans and gangsters.

Singapore media has a role to educate the daft Sinkies to think objectively and not to be manipulated into how to think and what to think of the North Koreans in particular and the rest of the world in general.

Going back to the 60s

When Hsien Loong asked if Singaporeans want to go back to the 60s, I thought he was using that as a reminder that going back to the 60s was a bad thing. The things that are happening today point to one direction. It seems that it has all been planned for Singaporeans to go back to the good old 60s.



Just look at what Singaporeans have been told and how their lives are changing. The first thing is that they have been told to live in smaller flats and mentally prepared to think that small is good. They have also been prepared to go around in bicycles or take public transport. In the good old days, only the very rich drove cars, the rest took buses and private taxis. This too could become a reality.



Today I heard that Singaporeans are encouraged to become hawkers. What about the dreams of becoming doctors, lawyers and engineers? Actually becoming hawkers or pasar malam stall owners isn’t a bad thing. Hawkers can make big money and many are driving Mercedes and living in landed properties. I concur that this is an extremely good idea. No need to waste so much time and money for a university education only to buy a 3 rm flat on graduation, and maybe ended as a taxi driver or a hawker.



I am reminiscing the great times of those good old days of the 60s, carefree as a substitute to being out of jobs, and yes, our womenfolk were factory workers or maids. And my favourite, and in support of the govt policies, to integrate the foreigners, let’s live together with them under the same roof. Singaporeans can rent or share their flats with them, or they can rent or share their flats with Singaporeans. Then they can communicate and learn to live with each other happily and learning another culture and way of life. Singaporean’s life will be so much richer with the experience.



And of course there will be more hawker centres selling cheap and better food and faster in serving as well. Sounds like cbf. All the mothers need not worry so much about queuing for the best schools and wasting money on tuitions. Back then the aspirations were very low and thus not much stress in education. How much stress can there be if the aspiration is to be a hawker or a taxi or bus driver? Oops, actually taxi driving is the new ambition of PMETs when they can become their own bosses, independent, no one to breathe down their necks, a new breed of entrepreneurs or SME businessmen. Very 1960s.



We are progressing to the 60s. The new ambition of school children, 'I want to be a hawker.'

Cauldron of Life

This is a series on life and the fire one has to go through in life. Surviving the cauldron of fire of life, one comes out as solid steel. Failure will see a melting down and turning into scrap iron. Living is a test of will, a test of character to survive in a path one chose to tread. It is not a walk in the garden. There are many twists and turns and one could be burnt any time in this journey of a life time.

Heavenly beasts - Pi xiu

This is another series of photopaintings that I have created with the help of Mother Nature. The image has never been seen before. They are not the mystical dragon or lion or the qiling. The closest I could relate this to is the pixiu, a smaller creature claimed to be the proetector of the owner and his wealth. Many images of the pixiu have been crafted, mostly in stone or jade, and displayed in homes or business premises. This photopainting could be hung on the wall at the entrance area, or the reception area of an organization in place of the carved varieties.


The unique feature of this kind of photopainting using the Art of RAR technique is that the images must first be photographed using a camera as the originals are unrecognizable in the water and will be there only momentarily. They will only appear in the full glory after some processing. This is a very unique and revolutionary way of painting, like painting the thoughts of Nature.

My tree of Life series is also created in the same manner.

A little mystery, a little miracle, a whole new way of painting.

The fearsome population numbers

We need a population growth of 25,000 to 30,000 immigrants a year to sustain our society and economy, so said the wise men. There is no better solution. This is probably another CBF solution that is the best and nothing but the best. No other mortals will be able to think of anything else out of this box, the box that all the super talents’ brains are boxed in.

If these new annual intakes, they are mostly adults, were to turn citizens and move into a single ward constituency like Hougang, what kind of impact it will have on the social and political balance of the ward? Hougang only has about 23,000 voters. At 25,000 to 30,000, there will be one Hougang equivalent of voters in the making every year. On the other hand, the babies being produced by the citizens would need another 21 years to come into stream.

Don’t pray pray with this kind of input.

Should the govt mandate a wage hike for low wage workers?

The above was the topic for discussion in the Talking Point programme of CNA this week. It was interesting to how the different sides presented their for and against arguments to raise pay for low wage workers and how the issue of productivity seemed to be a natural instinctive reaction to the pro govt view. The need to raise productivity was the most important position for the pro govt representative. No productivity, no need to talk about pay hike.

I would like CNA and its programme hosts, Dominic Loh and Daniel Martin, to have a similar programme, this time to discuss raising Ministerial Pay and the issue of productivity thrown in. It will be nice to see if productivity is an issue and a fundamental reason to be used before any pay hike for ministers and for that matter, the President.  Was or should productivitybe an issue or a primary factor in raising Ministerial Pay?

I think CNA’s viewership will be instantly raised if such a topic is being put on air.

Completing a cycle of change

The poor peasant Chinese were pouring out of China about a hundred years ago. They were driven out of their motherland to seek work to feed themselves. Staying back in China was not an option. Jobs were scarce and earning a living was tough going.

By mid 1950s onwards, they were still poor. Poverty and going hungry were the normal then. Things started to improve in the 70s onwards. Life was more bearable and food was not so scarce. The common mode of transportation was the bicycle.

For the Chinese that headed out to Singapore, the 70s and 80s were times of rapid growth. They were getting richer and faster and living was less of a challenge. Buying a home and a car were the norms. Bicycles were discarded for the four wheels with a roof, a prestigious symbol of success.

Fast forward to the present, some Chinese are returning home as jobs were in abundance and livelihood is no longer such a big challenge. Singaporeans too are marching back to China when job opportunities were more challenging in the island.

In China, the Chinese are building homes like Singapore did in the 60s and 70s and buying properties, and property speculation became a national past time. Bicycles were swopped for the four wheel status symbols. More people are getting rich faster.

Singaporeans are downsizing and buying smaller and smaller homes with more money to pay. Cars are getting out of reach and more Singaporeans are taking to public transport and bicycles. The story will come full circle when Chinese Singaporeans start to return to China in hoards, to seek jobs and better living conditions, to buy bigger homes and be car owners once again.

PS. The super rich are having a good laugh at such articles. Get out of my elite and uncaring face.

Who caused these problems?

To many Singaporeans, there is no problems in Singapore. Everything is just fine. We are the best in many things, the 4th best country in the world, desired by people paid on company expenses to live here. Foreigners are queuing up to come here and if they can’t get in, they will pay to smuggle themselves in, legally or illegally.

Then there are some corners of the island there are voices complaining about so many problems. Let’s hear the problems.

1. Wide income gap

2. High property prices

3. High cost of living

4. High prices of cars

5. High medical fees

6. Jams and congestion

7. PMETs having unemployment problems

8. Lack of local talents

9. Lack of babies

10. Too many oldies

11. Not enough savings for retirements

12. Not enough good people going into politics and the best is just so so.

13. Not enough talents in finance, medicine and legal services

14. Too many foreigners

15. Transportation problems

16. Housing problems

17. Not enough hospitals

18. Oldies need to work in their 70s and older.

19. Some more problems?

I don’t believe that I could list out so many major problems within a couple of minutes. Are they real or imaginary?

If these problems are real, who caused them? Did we pay too much to too many super talents to have these problems?

Singaporeans will be top priority!

"We are trying to seek the maximum advantage for Singapore and Singaporeans," so said the Prime MinisterThe headline stated: "S'poreans will always be top priority: PM Lee"



Mr Fish has written an article in his blog, Feed Me To The Fish on this bo pian logic. He has said all there is to be said. I will just add a few points to highlight this twisted logic that is disadvantaging many Singaporeans, our children. One thing, giving a new citizen a pink IC and called him Singaporean and let him have all the privileges, including top jobs and even sitting in Parliament is bull. To me it is deceit. Applying this concept, we can have 2 million additional Singaporeans, new citizens, to enjoy the maximum advantage taken from the original Singaporeans. And the excuse, they are Singaporeans, look, pink IC. A Singaporean, by law, is a Singaporean. Losers cannot argue against such brilliant logic and reasons.



The next thing, any policy depriving Singaporeans from housing/university places, medical benefits etc etc for whatever shitty reasons is anti Singaporeans when new citizens are allowed to take maximum advantage over original Singaporeans. With new citizens and PRs having the choice of selling off their properties at a profit and move on, the Singaporeans will end up buying the inflated price housing to stay for good is not something that is advantageous to Singaporeans. Singaporeans ended up as suckers, especially those barred from pubic housing for shit reasons and shit logics.

And licenses were issued to foreigners, including PRs, to compete with Singaporeans for small business like agencies etc etc. Maybe this is a sadistic way to make the Singaporeans work harder and become more competitive.



I must say that many Singaporeans, especially the elite, are maximising their advantages as Singaporeans, but some corners of Singaporeans are being greatly disadvantaged if the govt cares to look and cares to know. And turning foreigners into new citizens in hordes is definitely not pro Singaporeans. A Singaporean disadvantaged is a Singaporean disadvantaged. Need proof? Does the govt know that many Singaporeans are disadvantaged by its policies? No?

A by election for regime change

There are many angles to look at this by election. At the very basic level will be a fight of personality and acceptance between the two candidates. At the next level will be a contest between the ruling party and the opposition, represented by the WP. It is very encouraging to see the opposition parties closing ranks on this issue, to stand together and not to be a spoilt brat by being the third party. But don’t worry, a third party will appear if things are as predictable as before. There will be clowns standing up for all the wrong reasons to mess up the fight.

Another big issue is the agenda for regime change. The vibes in cyberspace have been loud and clear, that a regime change is what they want. They are fed up of the ruling party for being what it is, refusing to change its attitude of talking down to the people and thinking it knows best. What it wants to do, it will do regardless of how painful it is to the people and regardless of how the people scream and shout.

The population explosion and all its unpleasant consequences of high inflation, high cost of living, congestion, high property and car prices, foreigners taking over the plum jobs of locals, are very painful to the citizens. Given foreigners a pink IC does not make that person a Singaporean, albeit legally. If that be the case, the whole govt can be foreigners or new citizens tomorrow. This disturbing policy has risen to a level that is seeing xenophobia starting to raise its ugly head. It has never been like that before. Singaporeans are proud of its migrant history and always welcome foreigners here. But when too many foreigners are getting on their nerves, it becomes anger.

How would this translate into an election issue? To quote a financial adviser, Tan Kay Kerng, ‘We need to have an official representative of the people and not to have a caretaker group of people who are looking after us.’ This statement sums up the attitude and mindset of the PAP. It wants to rule the people, be the master of the people, think for the people, telling the people what to do and what cannot do, and they will call the shot. Whether the people like it or not, they will do it. More immigrants needed. Period. Don’t bug me. We have decided. We will not change course. We are master. We know best.

Would the Hougang residents elect an MP to tell them that it is govt policy and they will have to live with it, vote for all govt policies and not against any? Or would they vote for a representative, their representative, to represent them, their views, their unhappiness, what they want done, in parliament? Do they want a govt that will decide everything for them in a ‘we know better’ and ‘it is good for you’. Or would they want a govt that will listen and make policies that the people want? Do they want to elect a master or a servant to serve them in parliament?

Hougang by election on 26 May

Nomination Day will be 16 of May. This is an interesting event to watch from all corners. How would the opposition parties react? Would there be a mad scramble to be in the arena, like fools rush in? Or would they be united and give deference to the Worker's Party to fight a one to one battle without any spoilers?

On the PAP side, the result is going to be closely watched and it could foretell its fortune in the next GE. The people of Hougang will set the tone for what lies ahead. It may be a simple by election. But it has far reaching consequences for everyone.

The art of making Asians lick everything

The Titanic, the Unsinkable cruise liner, the biggest of its time, the biggest technological achievement of Britain, the biggest flop, the biggest tragedy!

If the sinking of the Titanic were to happen to any Asian or African country, it would be a national shame, like the failure of the satellite launch by the North Koreans. The western media will have a field day laughing their guts out. Daft Koreans could not even build a rocket to launch a satellite. What would it be if the Titanic was built by the North Koreans or the Russians or the Chinese? The West would be giggling themselves crazy and laughing on their stomachs.

100 years on, the British and their silly former colonies are celebrating the sinking of this mammoth ship that took thousands of lives of the British and European elite class, the aristocracy, the royalties and the gentries. Yes, they are celebrating the ill fated maiden voyage of a ship they called the Unsinkable that sunk on its very first voyage. Instead of shame and agony, it is time for celebration and a big PR blitz complete with memorabilia and keepsakes of the romantic times.

It was not a failure of technology. It was human error. Everyone was celebrating and allowed the ship to kiss an iceberg. It is all about how to reframe a story. We should learn a bit from this media blitz and celebrate the daily breakdowns of our MRT system, the jewel of achievement of a first world country known for flawless efficiency. Maybe it is too early to make such a celebration when there is a BOI. Maybe at least to wait till the BOI is over. Maybe we can wait for another 100 years to make it real big and after all the angst and cursing is over, and a future generation that just want to have a good time, no matter what reasons or occasions.

Clever ideas for COEs

The frustration faced by car owners and potential car owners is raising temperature by the look of the numerous appeals to the authority to revise the system. Many see the systems as totally flawed and have offered many clever ideas to make it more reasonable.

These well intended proposals by the public are nothing new, nothing difficult to figure out and nothing extraordinary. The super talents would have even much better ideas to improve the system. They are not duds. They know exactly what they are doing and why they are doing and why they refused to see from the perspective of the frustrated car owners. Do not underestimate their talents.

What the public failed to see is that the COE is the biggest cash cow to the govt next to the CPF and HDB. And it is even more efficient as a source of revenue with practically zero cost and zero effort. Printing a piece of paper is all it takes to collect a $100k. Why should the govt want to change this ATM and cut its revenue? And with the foreign talents with bigger pockets coming ashore, it is even better to make sure that the COE goes even higher. And for those who are earning tens of thousands a month, the convenience of a car and lesser cars on the road are things that they would not mind paying for. They only need to make sure their income and salary increases are ahead of the COE prices.

The unhappy public need not waste their time and talent with their clever suggestions. The deaf frogs would not listen as they know very well how flawed this system is to the car owners who cannot afford to pay higher COEs. It is a biased system in favour of the rich and you know who.

Miserables don’t rebel

I posted an article yesterday with the title ‘Miserables rebelling’. Actually it is not a true reflection of the situation. The miserables are very happy, contented with the warmth inside a boiling kettle, like the frogs. They are oblivious to what is going to happen except fearing that outside could be very cold.

The people who are speaking up are far from being miserables. Ngiam Tong Dow, Lim Chong Yah, Tommy Koh etc etc are very well endowed financially. They are the elite and are having a great life. Why are they speaking up? It must be a matter of conscience, of a sense of justice. They are very secured people that need not step out to brave the storm. They could remain in the comfort of their cocoons, shielded from all the noises, all the inequalities, and live very comfortably in their own world. They did not have to put up with small flats do not affect the quality of life stupidity. They did not have to squeeze for a standing place in a crammed train or bus. They need not be irritated by the unwashed and smelly workers. They need not worry that a COE is $100k.

The fact that they are speaking out is a sign that they did not like what they see. The injustice and inequalities in the society must have become too stark and unbearable. In our kind of political system, it takes not only a man of conscience and passion to want to right a wrong for the good of people and country. It takes a very brave man to do that. In the case of Lim Chong Yah, he is will to have his salary frozen for the next three years. He and all his high earning relatives and friends would have to do so if his recommendation is implemented. Yes, putting the money where the mouth is, and lead by example. “If I don’t go down to Hades, who should go instead?’

FTs causing havoc in the island

They are new, with short roots or new roots that have not sunk in deep enough. All it needs is a little storm and they will be falling all over. Unlike the locals who were born and bred from young, becoming a fixed feature of the land, part of the land, permanently, the newly planted trees, the instant trees, are creating more problems instead of help. They are crashing over cars, hundreds of them.

The people have been warned to avoid the forest or wooded areas when there is a big storm, for fear of FTs. This is a newly created problem because of FTs. Aren’t the FTs here to help to make the place better? But they have achieved one key objective, create jobs. Many workers would have to cut and remove them. Many more jobs will be created to repair the cars and damages to buildings and infrastructure. Fortunately no one was hurt.

This is not only an ominous sign. It is a testimony of the problems we have to face with new transplants with short roots. A storm is all it takes for them to run or turn into trouble for us. We have been sold with all the good stuff of FTs but not the negative side. The gods are speaking up. See, this is what will happen if there are too many FTs, without roots or short roots. They cannot be the same as the local trees.

Generating contrived demands for goods and services

On one side of the coin there is this huge cry for more headcounts to sustain the economy and more growth. We need 2.5% to keep the population sustainable or, I think, we will disappear from this world. The rest of the world leaders are simply silly for not pushing for 2.5% population growth to keep their countries from dying. Europe, America, Japan, in fact all the developed countries will soon end up as history, forgotten civilisations. They failed, and willingly failed to boost their population growth. It is not only irresponsible, it is stupidity at its hike. Maybe that is why they are paid so much lesser, with a lesser brain to go along. Good thinking brains, able to plan ahead, to forsee future problems, need to be adequately rewarded. Singapore will survive with our 2.5% growth or more, while the other developed countries will be passe.



There are so many good things about population growth. It creates and generates demands for everything, housing, food, medical services, cars, transportation, schools, in fact everything. And when demand is high, the values of all goods and services will go up, and the whole economy becomes more vibrant. The more the demand, the more there is a need to build and provide for more services, and with more services and homes build, there is more need to bring in more people to occupy them and make the rest of the services profitable. It is a virtuous cycle.



This is like the lifestyle of a poor man and a rich man. The poor bugger, eats less, needs less, works less, and lives on less. The body gets thinner and needs lesser food, lesser space and eventually wither away. The rich guy eats more, needs more, works more to feed his needs, lives on more, needs more services to amuse himself and to keep his body going, leading to more and more demands for goods and services.



There is definitely a need to bring in more people to generate more demands for everything, more housing, more cars and transportation, more hospitals, more services.



The bid number of people has a small drawback. Over supply of labour will drive wages down. But this is a small price to pay if we want to generate more demands for very thing to keep the economy going. Higher prices of everything especially properties will make all property owners happy. A little bit of congestions or jams is bearable if we want growth and a higher standard of living.



It reminds me of the story of the guy lying on the beach below the coconut tree. Actually there were two guys. One was there since he was born, lazing around to enjoy his sun, sand and sea. The other was a very successful man who had worked all this life and had acquired enough riches to enjoy the sun, sand and sea. The former did not bother about the all the electronic gadgets, fine food and theatres and the arts. He did not know they existed and did not miss them. The latter had all of them and was running away from all that he had. He just wanted to get away from it all, to lie peacefully under the sun, on the beach, doing nothing.



We schemed, planned and worked so hard to get further away from the big landed property we want to share with our families and children, to grow up and play. We laughed and sneered at the North Koreans, condemning them of living in abject poverty, in their sprawling landed properties that cost maybe $10k, with only minimal electronic gadgets, and a big family of children running around. We have progressed, spend our time dining and wining with people that don’t mean much but have no time for our families, or to even have children. We spend all our waking time at work only to return to sleep in our little palaces, too tired to even talk to the children who, if any, would be fast asleep.



We achieved, we are high achievers, high living, and enjoy a great and busy life.

Miserables rebelling

The signs of the miserables rebelling are beginning to show. On one corner, those against pay rise for workers. On the other corner, those who feel that the workers have been underpaid and need a boost in their income to keep pace with the high cost of living.

The interesting thing, who are the people standing up for the workers’ plight? We are hearing voices from the luminaries crying out for the workers, and some prominent members of the establishment. Conscience pricks? This is unheard off since the centuries of revolutions in France, Russia and China. Today, the human resource professionals are also standing up for the workers. They understand the lot of the workers and how they are coping with the rising inflation. They have pooh poohed the myth that workers can buy a decent public flat with a $1000 monthly income or things along this line of thinking.

Now, who are at the other corner that are against giving workers a decent pay rise, a decent income to live a decent life? Maybe they believe that the workers are having a really good time and a really good life. No need to pay the workers crazily. With half a million dollar of subsidies, the workers are all half a millionaire. They are the envies of the world.

More upgrading is needed

More upgrading is needed in all jobs. We are now in the first world where everything is about being the best. Our dirty wet market is going and will be a thing of the past. Our hawker centres too will join the dinosaurs. We will keep improving our quality of life and lifestyle. Our universities are producing more and more graduates and the graduates will fill the jobs of those used to be filled by O level certificate holders.



The call for training and upgrading is a necessary call. The housing agents, insurance agents, stockbroking agents, all need to go for courses to upgrade their professionalism and image of professionalism. It is a matter of time that all these agents, excluding secret agents, will need to be graduates. If not, where else are they going to put all the graduates?



Taxi drivers too will need upgrading. So would be train drivers and eventually down to the table and dish cleaners at the new upgraded air conditioned foodcourts. Cleaning tables and washing bowls and plates need specialised skills and the use of modern equipment to improve productivity. Send them for more courses, if not improving their skills and attitude, it is also good to know. But don’t expect any salary increment for attending all the courses and upgrading. Some are necessary, some are good to know and some are good without the need to know.



There are very few professions where there is no need for upgrading or to attend more courses. For those who want to get more salary increment without having to attend courses or the need for upgrading, be a politician. The additional courses or higher degrees are kind of wasteful training as they are mostly not needed. What kind of skills transfer and benefits will there be for a surgeon or lawyer to become an environment minister or housing minister or sports minister? It has been proven that all the politicians, no matter how many PhDs they have or in whatever field, or if they don’t have any, did not make any difference. They will all still become an expert in the ministry they are posted to, quite instantly in some cases. No need for any training or upgrading or good to know courses to attend, to pay for them, and to sit and pass examinations.



Sometimes I wonder if it is the job that is too easy or the incumbent that is too talented to make political appointments and jobs look so easy, and rightfully deserving of more and more increments, and without the need for more training nor productivity increases. Would any smart Alec dare to suggest putting politicians to attend upgrading and good to know courses, make them attend classes, pay to sit for examinations because it is good for them to know?

When doctors waited for you

This is a strange thing to happen. The doctors, dental surgeons and other medical professionals were there waiting to treat you. We used to have only one general hospital and a few clinics to serve the population. The population was smaller and the number of medical professionals too was smaller, and private doctors and clinics were not many.

Those were the times when the medical fees were relatively cheap and the doctors were often found waiting for patients. But their lifestyle was much better, driving Mercedes and living in landed properties still.

Our population has grown and so have our medical facilities and medical professionals. The mentality of the people has also changed. Every little pimple appearing on their backside or a little black spot on the face and they would want to queue up to see a specialist. They would not bother to squeeze out the pimple or scratch away the black spot with a pen knife.

We have several big general hospitals and several big private hospitals today. And the number of practitioners has grown too. We probably have more specialists today than we have GPs in the 60s and 70s. When we made an appointment then it was a week or a few days ahead.

Today, an appointment with a dental surgeon or GP in public hospital or clinic, if one is paying subsidised rate, can be one year or several years down the road. 3 years wait is quite common. But if you tell them you are willing to pay, suddenly the queue is immediately shortened. How much shorter depends on how much one is willing to pay to jump the queue, especially in the private sector.

This is progress. We have more than 5m people and when everyone is willing to pay for good service, the one who has a bigger bank account will get the best service available. No one is or will be deprived of medical services. It may just take a little longer. The medical condition just needs to wait for its turn to be treated.

Could there be a message in a 1 year or 3 year appointment? The first is simply, pay if you can’t wait. Or maybe the condition is just not urgent enough. Or is it another way of telling the patient,  ‘Hope you will be smart enough to go somewhere. Don’t come and waste my time.’ Or it could be another hope, that the patients may not survive the 3 years wait and the problem will take care of itself naturally.

We have progressed, and our way of solving pesky problems has also improved, very diplomatically. If one is unwilling to pay the ransom or market rate, one has to wait for the doctors. 3 years is reasonable, it is subsidised what do you expect? Today we have progressed from having lower quality services when doctors waited for patients, to world class services when patients have to wait for doctors.

Singapore’s top of the pop chart

 

The most popular songs in the island are:

1.    We need more immigrants

2.    Big income gap is unavoidable

3.    High medical bills equal top quality

4.    High property prices are affordable

5.    High wage increase for workers is dangerous

6.    Singaporeans first, but wait, all immigrants will become Singaporeans

7.    Salary increment must have productivity

8.    Workers rejects high wage rise

9.    High wage increase causes inflation

10.                       Workers want wage rise to fight inflation

11.                       Workers are not stupid

12.                       COE not high enough

13.                       Public transport is world class

14.                       HDB flats never shrink

15.                       Small flats good quality of life

16.                       We want more babies for the economy

17.                       No need by election

18.                       Wait for 2016