MSM says, Lucky Singaporeans

Singaporeans are splurging in Lamborghini, expensive cosmetics and paying mindless prices for seasonal food, $888 for a few pieces of mooncakes. And a billionaire can live in a whole condo, $100 million worth of it, for just 3 persons and all his expensive car collection. And better still, prices or inflation is stable, hardly any change. And all the complaints about Singapore rental going too high is nonsense. The foreigners now agree that Singapore rental is reasonable and 10 years behind Hongkong. In a way this is bad. How can we be lagging behind Hongkong by 10 years? Plenty of room to catch up. So, with good times here, what nonsense are Singaporeans complaining about a plate of noodle or rice going up by 50c or transport fare going up by another 3c or 5c? The proof, Singaporeans can now celebrate National Days for two months. I think we will not beat the Latin Americans in merry making. Singaporeans are crazy. All having big fat pay and worrying about a few cents increases here and there and making a mountain out of a mole hill.

The 23 South Korean sacrifice

The world is made of many suckers and naive or youthful idealism. These Koreans believe in a world of goodness, to do goodness without knowing that for every goodness in this world there is an equal wickedness out there. And they may have to pay for their stupidity with their lives. And the pain is at home, their love ones. And of course the South Korean govt saw its balls stuck in a mouse trap. This is a stark and brutal lesson that Singaporeans must learn and I hope the govt has put a ban to prevent naive Singaporeans from walking the same path to martyrdom. In my conversation with some Singaporeans, there is a little group that lauds the act and is celebrating their impending status as martyrs. They have only praise and adoration for this group of silly Koreans. And do not be surprised that some Singaporeans may be planning a similar mission to save the Afghans or the Iraqis.

notable quotes - LKY on Indon media

'The Indonesian media is a spontaneous combustion engine that responds to what sells, what's news, what the political parties want to create as news. then you chase the news.' LKY Now different or similar is the Indonesian media to our own media?

The uncaring and undeserving super talents

Where are our super talents found? In political offices, in ministries, stats boards and GLCs. These are the organisations where most of the super talents are employed. They are employed by Temasek, EDB, GIC, DBS, SIA, Keppel, PSA, Singapore Engineering, Sembawang Shipyard, etc etc and paid like super talents should be paid. What happens if there were no Temasek, EDB and the long list of GLCs? What happens if the first two generations of Singaporeans did not do what they did and none of these organisations were around to provide the jobs? From the political leaders, civil servants, the entrepreneurs, the engineers, the business community, the industrialists, the cheap labour in the factories, the construction workers who helped to build the infrastructure, if all these nuts and bolts, the cogs and the screws, did not play their parts, who would be able to provide jobs for our super talents to pay themselves super talent salaries and brandish themselves as the talents, the successful and able and clever Singaporeans? Today's Singapore is the proverbial giant tree planted by the early pioneers and give shade to all beneath it. Without this giant tree, I wonder how many organisations will be able to provide super talent jobs and pay super talent salaries to the Singapore brand of super talents? Now some of the super talents are rubbishing the little fellows and telling them that they deserve to be in the low station of life. That they are the failures and should not be complaining. Without all these low talents or no talents, without the arsehole, can there be a place for the super talents? Would these super talents be able to create and generate their own wealth as entrepreneurs and wealth creators? Or are they just good enough to be employees, resting comfortably under the shade of the giant tree planted by the pioneering generations? Shall we remember the arsehole and appreciate his contribution to the whole prosperity?

Asean, the fools have it

Asean was conceived to bring small countries together as a group to compete against the world and keep the big powers at bay, politically and economically. But one thing that they must settle first is their internal bickering. If Asean countries cannot live and cooperate with each other, what chance to they have when competing with the giants and bigger countries? But there are so many fools within Asean that constantly try to cripple the organisation. And one of the sore point is the little Red Dot. In their own bizarre and simplistic underdeveloped mindset, I am using strong language here, they have painted this harmless little dot into a monster to fear. Really, what can the little Red Dot do to any of the countries in Asean? Conquer and colonise them? How foolish. And for their foolish thoughts, they make it so difficult for Singapore to invest in their countries. Do they really believe that it is better to have the big powers to invest in them? With the little dot, they know that we cannot bully them in any way. We have to play by their rules. On the other hand the big powers will have nothing of their nonsenses. If the big powers are not happy, they will take out the cane and whip them, real hard. They better remember very clearly that the big powers were the ones who had colonised them and still have the capability to do so. Not the little Red Dot. When will the fools get wiser? Or are they so happy and contented to live in the backwaters of the world economic activities and believing in their rural fantasy that Singapore is giant demon?

The Risk of Stockbroking agents

Stockbroking agents, housing agents, insurance agents, taxi drivers all have one thing in common. They provide jobs to the people. Killing these professions will only bring more problems to society and anger against those whose minds are set to destroy these jobs. Some think that these are cushy jobs that pay very well, and do not need much talent or effort. How wrong they are, and how ignorant. Every job comes with their own problems and risks. In the stockbroking industry, the people that are likely to go bust are the top remisiers. In good times they made very good money that people will get green eyes. But all it takes is for the market to turn against them. Many top remisiers went broke when their clients incurred huge losses and disappeared or declared themselves bankrupt, leaving the remisiers to pay for their debt. This is one of the biggest risks that remisiers faced, bad debt or bad clients. The next big risk is human error. Because every push of the button can be a deal of millions of dollars, a lapse of attention is all it takes to be down hundreds of thousands or millions. And making such mistakes is so easy. Our minds often play punks with us. Several remisiers worked up in the money and the first thing they hit was the button and instantly they are in the red, losing thousands of dollars. No joke. How to live with a $300k or $500k loss just by pushing a button? The next risk is infringement on rules and regulations and the fines are very heavy for the smallest transgression. With the miserable commission it is just not worth the risk. Then there are the bad clients who put the blames on remisiers when it was their own fault. And this put a lot of pressure on the remisiers, damaging their credibility and even risking being suspended from business. The risk that the remisiers are taking is not commensurated with the miserable commission they are getting. It is not a simple push button job. They are many rules and regulations to remember and all the stocks to look out for. One day they can be laughing to the bank. The next morning they may be crying for help. Do not be envious of the remisiers.

Educating Tribal Chiefs about honour and trust

LKY is on an education mission to Indonesia to educate the tribal chiefs about honour and obligations. This all started with the signing of the Extradition Treaty and Defence Cooperation Agreement, DCAET. The Indonesian politicians were told of the consequences of backing out of an international agreement signed voluntarily between two govts after thorough negotiations. This kind of attitude and precedents have dire consequences. LKY should remind them of the two glaring examples, Malaysia and Indonesia. Once the trust is lost, it will take a long time to rebuild and regain it. Malaysia was the first culprit of changing their laws and applied them retroactively to the detriment of foreigners. They thought they were smart. Now they are living with the consequences of all their backtracking and volte face in their commitments to international practices and the rule of law. The IDR is going to be hanged until assurance be given that these kampong mentality and practices will not be repeated and foreign investments are protected by law. Otherwise who is going to pump in millions of dollars of investment into the country? Thailand is a newcomer to this game of highhandedness and unravelling of legal practices and obligations. They tried to forcibly recover the assets of Shinsat after being sold to Singapore. All at once the international community stood up and held back all their investment plans. It shocked the military junta and they are backtracking to correct their error. But the investment funds are not coming in so fast until they really affirmed that this is not going to be the way Thailand conduct its business. Do the tribal chiefs in Indonesia think they can get away with their tribal ways and still think Singapore and the foreign communities will pump money into Indonesia? Do they really think that Singapore can be blackmailed or has its arms twisted by them? They can kiss their Batam, Bintang and Karimum Economic Zones goodbye if they don't play by international law and practices. Like it or not, they will have to learn to live by the norms of a modern world.

Myth 155 Things Singaporeans believe in

Things Singaporeans believe in Singaporeans are believed to believe in these things. 1. The people fully support the high salaries of ministers and the reasons for it. 2. HDB flats, medical fees, and education are heavily subsidised. 3. The GST increase is to help the poorer Singaporeans and good for them. 4. Increasing the population to 6 million is good for the country. 5. Singaporeans lack talent and need foreign talents to help them to grow. 6. Inflation is very low. 7. All price and fee increases are affordable. 8. They will never save enough for their retirement. 9. The money in the CPF is their money. 10. They are better off than yesterday. 11. More good years to come. 12. No one is left behind. 13. We are moving forward together. 14. Singaporeans are honest and incorruptible when they are paid very well. 15. We have the best political system in the world. 16. They believe everything they read in the msm. 17. What else do Singaporeans believe in?

Political Parties Manifesto 8

Would there be a party who would state it clearly in their manifesto that they will not make indecent profit from the people for providing essential services and basic necessities? Would they declare that the costing for subsidies like medical fees, education and housing be on an open formula where profits are based on replacement costs plus? Would any political party dare to be sincerely transparent in their transparency on costing subsidies?

Inflation up 2% next year

Johnson Choo wrote in Today about inflation probably hitting a record 2% next year. Statistically, depending on the formula and the basket of goods, the number may be right. But with 2% increase in GST and the way prices are shooting to the sky, who will ever believe that inflation is only 2%? This morning I bought a pack of horse hoof pastry, made in Malaysia, in pink plastic bag without brand. It costs $4! It was only a couple of months back when it cost $2.20. I took out both my hands and try to use my fingers to count how many percent increase was that. Even with my toes, still not even for the change. Anyone still believe that everything is ok? Johnson added, 'Even so, to the man in the street, the pinch may feel harder than the cold inflation numbers would indicate.' The GST offset will definitely help the poorer Singaporeans. Their life is getting better.

Myth 154

Professional, Ethical and Honourable Managers LKY recently talked about good leaders being men of honour who will mean what they said and deliver what they said. What he said is basically the qualities of a decent man which can also be seen as the good qualities of managers. How do Singaporean managers fair in these 3 criteria? There are definitely the good and the bad managers. I have seen many who are neither professional, ethical nor honourable. An ethical manager is expected to make decisions that are ethically correct and fair to their employees and staff. They cannot short change or cheat their employees. That is a fundamental requirement not only of managers but any decent man in any position. And at times when decisions came from the top, from head office, that are ethically or morally wrong, as professional managers, they must say no to them, reason it out with HQ that the decisions are bad decisions. Many choose to keep quiet and follow the orders. Not to rock the boat. Why should they. Not sure if you can call them smart managers. The third point is of honour. Any man that is worth being called a man must honour what he said. How often when confronted with what they said, many managers will pretend that they are dumbfounded. What? Who said that? I never said that! They will not even remember what they said or committed. And one good way to prevent themselves from being caught and can't back out from it is not to have anything in writing. Not even minutes of meetings. Definitely not in emails also. The best summary for such managers is the 3K Manager, Kiasu, Kiasi and Kiamistake. They are anything but professional, ethical and honourable.

Time to cane teachers and principals

Read about the case of a foreign student being taunted and bullied until he broke down. First time student was counselled and bullies punished. Not sure how serious was the punishment but it seemed that the bullies were having a great time bullying the student again. This time the poor student went berserk and attacked the bully again. Even after that he was uncontrollable. It was obvious that the bullying was not a simple case of friendly taunting between pals. Things were thrown at the student and all kinds of unfriendly and insulting remarks were used to attack him. How could this be allowed to go on and on to the point where the poor student could go mad? This is uttterly irresponsible on the part of the teachers and principle. They should be caned in the assembly hall. It is so shameful that our education system can allowed such abuses to go on and on and hurt a student physically, mentally and emotionally. The experience is so traumatic for a young man that is growing up. He will grow up hating all those he met here and Singapore.

Myth 153 Annual increment

Annual increment In compensation for employees, people have taken it for granted that there must be an annual increment every year, good time or bad time. So every employee expects some kinds of increment as if it is an entitlement. Only during really bad time that annual increment could be waived. This expectation is quite natural given the fact that many employees are being paid just about enough to keep them alive. They needed the monthly salary to live on, without much savings to last more than a couple of months. And with inflation and rises in the prices of everything, if there is no increment, they are actually getting worst off. They may be getting the same income, but lower purchasing power. Thus, an annual increment to a large extent will help to maintain a certain standard of living and purchasing power. Now this expectation is being extended to the CEOs and top management whose compensation package is not only huge beyond imagination, but also with all kinds of perks and incentives. Even these turkeys expect a payrise every year when the cost of living really hardly affect their lifestyle. Then the other fallacy is to peg annual increments in percentage terms. You can imagine how much is 10% to someone whose income is $1 million or $10 million. This is the myth in human resource compensation that has been perpetuated and will be likely to be continued forever. After all the CEOs are not going to say no. More likely they will insist that the practice should be continued in their best interests.

Hospital bills up by 10% to 30%

Across the board increases of hospital bills from 2005 to 2006. Average bill size of C wards gone up from $858 to $1112, B2 wards from $1094 to $1,284, B1 from $2,736 to $3193 and A wards from $3473 to $3830. Maybe should take the numbers with a pinch of salt and wait for someone to verify that they are accurate, huh? And 1% of C ward patients paid $9,071 while B2 paid $8.813. Now this definitely requires more checking as the numbers are unnatural and unbecoming. The good news is that all these are still affordable. And the Boon Wan is looking closely at it to monitor and manage the inflation of medical costs. Who is causing the inflation? Although they are claimed to be privately run hospitals, operating for profit I supposed, they are in many ways a monopoly or a cartel. Can anyone force them to increase their cost and fees?

Don't comment and can't report

Another dark day for msm for reporting on data that were wrong. And it took a blogger, Alex Au of Yawning Bread to do his own checking to confirm that the numbers published were indeed a mistake. Rental price of a 3 room flat in Jurong East was reported to be $2,500 but actually it was for two adjoining units. What happens to the professionalism and the checkings and double checkings to ensure accurate reporting that were bragged by the professionals as their trade mark for excellence? We in cyberspace are so sloppy and lucky that we can say anything without being professional and accurate. The other point highlighted by this case is that the two units were let out to foreign workers. Any problem? If there is no control and 10 to 20 foreign workers were squeezed into the two units, how would it affect the security and social aspects of residents living there? Who would want to leave their aged, housewives and young daughters in the midst of strangers? Would the authority like to look into this?

The Malaysian Paradox

Malaysia is probably the only country in the world where the govt openly admits that the bumiputras are of lesser talent than the other minorities. And after 40 years of NEP, affirmative actions and handouts, they have proven that this theory is true. They are still behind the other minority races. And giving up special privileges will mean that they will fall further behind again. Either way, like Mahathir said, they will fall behind. But Malaysia has high ambition to be a developed country. How then can Malaysia ever make it when the people are so untalented? To achieve a developed country status, the people must be as talented as the people in developed countries. But in Malaysia, the bumiputras are even behind the Chinese and Indians, who are far from being first world countries. And if they cannot even keep up with them, how to ever dream of being like the Europeans or the Japanese? Or perhaps Malaysia can become a first world country without having to work for it, just depend on NEP? This is the greatest Malaysian Paradox. The bumiputras believe themselves that they will never make it, that they are by nature slow. Why don’t the bumiputras stand up and prove that they are not really a backward people? That they can compete with other people on the same level playing field, domestically and internationally. Or they still need more weaning time? If it is true that they are backward, then their dream of being a first world country will forever be a dream. Now, is their assumption of being backward true or real?

The last hurrah

In a couple of weeks we will be celebrating our National Day in big time. Two months to rejoice. With so many people making so much money and many more to come, it is timely to make this a big bang. On the other extreme, with all the costs shooting up, not just 2% more because of GST, but many times more, many people have already used up their GST rebates and their savings are running dry again. It had been reported that the first thing some of these people did when they received their rebates was to pay off all their debts and mortgage payments which they have not paid for months. So the windfall of a few hundred bucks disappeared quickly, though a temporary relief. How could these people go on before the next rebate kicks in? And this time round, with practically every little thing up, and the rebate gone, it is going to be a last hurrah. It is going to be tougher, no doubt about that.

Spreading a second wing

The news of Temasek's investment in Barclay's Bank and $3 billion should greet Singaporeans as good news though there will be sceptics wondering whether we will lose the money if it does not turn out well. All investment comes with risk especially in foreign land where we have very little control over their political and legal systems. Such investments are welcome as there is really very little room to grow in our little corner. The world must be our oyster. Having said that, as a citizen who is seeing his CPF money being deferred from withdrawal till dunno when, I have my own concerns. I hope some parliamentarians will raise some questions in Parliament to comfort the people on their CPF money and that there is no relation between foreign investment and the deferment of the withdrawal of their CPF. The question is to clarify that people are not planning their big investments with the expectation that there is a cheap CPF fund available and that the money in the CPF should be kept as long as possible for their investment plans. Any CPF fund available should be incidental and be used only because it happens to be there and not the other way round, that the CPF fund must be made available for foreign investment. The CPF money is the people's money and must be quickly returned to their owners without anyone harbouring any strange ideas on how to hold them back and use them. The assurance that this is not the case is welcomed.

We are first world, we believe in the tooth

If we cannot believe in tooth, or if we believe in tooth, or we don't care even if it is tooth? How far down the abyss are we prepared to go as a first world country to allow ourselves to be so deceived? It is so ridiculous for anyone to believe in untooth. It is a different matter for a nation to believe in untooth or let the people believe in untooth and do nothing about it. Are we saying that some people are allowed to propagate untooth? Or have we degenerated to the level of the third world intelligence? Uniquely Singapore

The pincer squeeze

Singaporeans are just like a nut in between two pincers, the rising cost of living that makes us less competitive and Sing $ that gets to buy lesser things at home. People who think that their salaries are going up, if not in big percentages are actually getting a pay cut. How far can this go on before we wake up and say shit, what is happening? The next round of retrenchment when companies start to move out of Singapore, when jobs are gone, will be very serious when there is no income and prices of everything at sky high.