$890k for a 5rm HDB flat

This is the best news today. All HDB hardlanders may find life not so hard after all. 4 rm flat should be around $700k and 3m may be $500k soon. Hey, who needs compulsory annuity with so much money in assets? Just liquidate and live the last few years in an abundance of money. Singaporeans are really lucky. So rich!

Social tension right before my eyes

I saw it last evening in the train. The apparent peaceful atmosphere was deceiving. There was this local sitting there with eyes closed and beside him was a FT. I did not see what actually caused the outburst, but probably a brush while sitting tightly beside one another. 'I know you are not Singaporean. Go back to your country.' The FT was stunned. And all was silent. Later the FT stood up to alight. The local stood up too. Both were at least 1.82m tall. Then smack smack, that was all the sound I heard as I was at the door. I turned and saw the FT standing motionless, too shock to react. The local muttered a few more harsh words and strutted off. With so many people crowding in the train or in public places, this kind of tension and violence will erupt more often at the slightest provocation. And it can become worst if it becomes a group thing.

I agree, it is afforable

9 out of 10 patients in B1 wards paid between $23,654 and $27,659 for the hospital bill. Assuming an average of 10 days stay, it works out to $2.300/$2,700 per day. The ward charge is about $160 and the rest must be professional fees and medications. I think this sum is still affordable. For that is all I can afford to empty my Medisave Account for one admission. People shall not grumble as they are paying for world class services and treatment. But when the money is spent, then how if another admission is needed? Don't worry, compulsory medical insurance may be the answer. No matter how expensive our medical fees are, Singaporeans will be able to afford them one way or another.

A mountain of political capital

Over the last 40 years the Govt has amassed a huge mountain of political capital for bringing development and prosperity to the country and people. This is an undeniable fact. Recently we are seeing the Govt drawing on this capital and spending on matters which no Govt would dare to dream of. Policies and decisions that were often an outright affront to the people were pushed out without a blink of the eye. They may think that they have a lot of political capital to spend. Political capital is very different from a savings account where $1000 spent is $1000k less and the rest remain. A single event or unacceptable decision can cause a mountain of capital to disappear overnight. Getting Chee Hian to announce the 21% pay hike and telling the people that it is not enough and another round is coming is banking too much on his individual political capital and clout. Does Chee Hean has that to carry this through? Yet to see. In my view there is only one man who has earned enough political capital to make such an annoucement and at most get a few bruises. Even Chok Tong is no longer in such a position to make such statements. He has spent all his political capital or his political capital has been spent. The rest of the cabinet, some may have a little capital, but not really that much to get away with outrageous decisions or policies.

Serious flaws in the assumption on Mean Testing

Look at the numbers given on the charges incurred in B1 and B2 wards? $23,654 -$27,659 against $4,882 - $5,675 are what a patient paid. Any reasonable man will wet his pants knowing that this is what is going to cost him in B1 ward charges. His Medisave savings would not last more than one visit. How then can one blames anyone for trying to stinge and save as much money as possible in case he needs it or his family members need it? It is reckless for anyone to go for B1 and A wards to finish off his savings on one admission. And it is prudent and wise to opt for the cheaper wards. Then there is this assumption that the guy earning $10k a month will continue to earn that amount forever. He may lose his job for any weird reasons. And the self employed's income is variable. One month good and 9 months bad. I find it unbelieveable to hear that people are being demanded to spend all they can and forget about the rainy day or when money runs out.

Healthcare services profitability down

'The industry registered a surplus of $918m...but profitability and cost effectiveness ...decreased by 0.5% each.' Taking a number like this will quickly tell a story of ineffectiveness and the need to raise charges to improve profitability. Heck, how can profitability and cost effectiveness go up if rental and salary keep going up? Everyone is demanding higher pay, higher rental or just push them up and claim that the operation is not profitable. Then simply charge the higher cost to the consumers. This is a free economy running under a free wheeling supply and demand principle. The only people who are suffering are the consumers who just have to pay and pay.

Hacking away at a fundamental principle

All these talks of how much people have in their Medisave, CPF savings, how rich they are and the introduction of Mean Testing is hacking away at a fundamental principle, or a basic right of an individual. This is the right to determine your own life, how you want to spend your money, what services you want to indulge in and how much to save for the rainy day. It is not a crime to be frugal and prudence by squandering your hard earned money away. This right belongs to the individual and not to somebody else. No one has the right to tell someone to spend his money the way he wants him to. The govt should concentrate on providing services that the people need, put them on the shelf at the prices it wants to offer. Let the people choose, let the people decide what they want.

The poor rich Singaporeans

This is another secret to Singapore's success. The poor Singaporeans, many of them, are like fish in a dried out pond but there is water everywhere. Look at his assets. Probably owns a 3rm flat or bigger, except those on rentals, has a big savings in his CPF that is untouchable till 65 now, and a $30k in his Medisave which is really untouchable unless he is seriously ill. And he will have a housing insurance, fire insurance, probably life insurance, and a compulsory annuity insurance to boot, akan datang. And some will also have Medishield insurance. Give it a few more years down the road he will probably acquire another few compulsory insurance along the way. And if he is working, there will be employee insurance, Workman Compensation Insurance, and specific trade or profession related insurance. But in spite of all these, he is penniless.

Why all the big fuss?

Boon Wan has briefly suggested how the new Mean Testing is going to work. Basically simple, practical and flexible. Ok, he has taken all the comments and reservations in msm and cyberspace into consideration. Good that he is listening. Mean Testing is not going to be an easy task. It is very difficult and would require a lot of manpower, effort and resources to make it effective. Then there is the demeaning and humiliating aspects that is quite inhuman in a way. So we are going to have a simple system. What for if it can't do what it should do? Why the effort for something that can hardly work? Would it be better not to have it if it is only to be so wishy washy? The old wisdom is that if it is not going to do a good job then don't do it. Is that so difficult? Why must there be this dogged commitment to carry it through? If it is a bad idea, it is a bad idea. Mean testing is going to go the way of the proposed compulsory scheme. Both won't work but will still be made to work. One is unnecessary and the other not going to work. Why all the fuss?

Prices, cost of living high?

Wrong, everything is just right. The high salaries, high prices of properties, high prices of rentals, taxi fares, hospital fees etc, everything is fairprice. All the crying, all the kpkbs are just hysterics and based on a few exceptions. As long as the demand is there, as long as people are willing to pay, then the price is right. In a market driven economy, everything is determined by demand and supply. The supply will be there as long as there is demand. Let the prices keep rising until an optimum level, then it will stabilise. This is basic economics. No one shall interfere with the market mechanism. It will ruin efficiency and productivity. Our prices compare to the big cities are still very low and have a lot of rooms to go...up. The complaints are baseless.

Secrets of Singapore's success - Compulsory

Make it compulsory Stanley Jeremiah, a chartered insurer, suggested that with the high cost of medical bills, it is desirable to have compulsory medical insurance coverage. Hmmm, we are going to have compulsory annuity insurance, now this. Actually not a bad idea. It is good for the people and will protect them when it hits them. And with legal fees getting higher and higher, we should also make it compulsory for people to buy legal insurance in case they got into a lawsuit. Make it compulsory for people who keep killer dogs also. What does compulsory means? It means your money is not your money. People can just legislate it away and make you buy things or spend your money on things that you do not need or want. Other people will decide how you spend your money. Means Testing is not much difference. You must spend your money. This is another great secret to Singapore's success.

NLB archiving home grown blogs

Who says blogs are rubbish? At least the NLB is seeing value in them as part of our historical and political development. 11 such blogs have been archived and the library aims to archive some 100 blogs by the end of the year. Among the blogs that have been archived are Cherian George's cherian.blogspot.com, Alex Au's Yawningbread.org and Mr Brown's mrbrown.com. Associate Professor Lim Sun Sun of NUS 'described the NLB's efforts as "far sighted". This affirms the importance of blogs in adding to the public sphere and contributing to the growth of public discussion.' Alex Au said, 'It shows that the Govt considers even blogs known for their dissenting articles as valuable material for our future generations.' Cherian George added, 'It is part of a welcome movement in Singapore to recognise the value of multiple perspectives in telling the Singapore story.' So, who is still dismissing blogs and internet forums as whining and of no substance and irrelevant?

Mean Testing in frontpage news

This is a very serious topic for the day and days to come. I agree with Boon Wan that while there are different classes of wards, the standard must not be lowered just because it is C wards. But the fact is also that no top doctors or surgeons would be there at C wards level. Too expensive and it is a reality that people must accept. You can have good quality doctors but not necessarily the top. All our medical practitioners are the best and trained from the best medical schools. So have no fear. The intention of Mean Testing is to make sure that the richer people pay accordingly. Maybe we should do away with all the different classes and just make people pay according to their affordability. A uniform standard of service for all. From each according to his best and to each according to his needs and pay according to his pocket. Another way of doing it is marketing and branding. The richer and more face conscious people would not want to lose face by going for products and services that are deemed to be of low class. We can rebrand the different wards to reflect the service standards and social status. A Class can be called First Class wards for first class people. B Class be called Business Class. As for C Class, the class that we want to prevent the cheapskates from not paying their dues, we can call it Cheapskate Class. That should befit those going there and getting treatment. I n a way, the poorer people would not care a dime what they are called. Only those who have money and are more conscious of their status would not want to be seen to be there. If that is too direct, maybe call it No Class Wards. In this way we may be able to do away with mean testing. The thought of it is quite unpleasant to subject the poorer people to this kind of checks. Very humiliating actually. Ok the cheapskates will still go there as their skins are quite thick. Never mind lah. There is always karma to take care of them. But actually what is wrong if people do not want to pay so much? Our medical bills are cheap compares to the West. $1k, $3k or $4k! Cheap like hell. Every Singaporeans should be able to afford them. How much is their income? $800, $1000 or $2000? What the heck, just pay or borrow a bit. The most is only 2 or 3 months income for a stay in a world class hospital. Worth every cent spent.

2007's 3 earth shattering events

The first was the outcry over the NKF saga and the mismanagement of public fund when people spontaneously signed an online petition to stop the nonsense happening there. The nonsense stopped. The people are still seething at the way the story ends. The second event that caused another uproar was the proposal for a compulsory annuity scheme. Though it is in the backburner now, bet your dollar that it will be repackaged and push to the people as another great and necessary scheme, that without it Singaporeans will be in dire straits. The third uproar is the taxi fare hike. This time it is not only the people crying foul but the taxi drivers themselves. It is so remarkable that the people that are supposed to benefit from the fare hike are feeling the outrage worst.

Another reason not to have compulsory annuity

Any Singaporean Ah Pek/Ah Mah who owns a 3 rm flat does not need any compulsory annuity insurance. They can rent out two rooms to foreign workers/foreign talents. $150 per worker, max 8 workers or $300 per foreign talent, max 4 talents, will bring in $1,200 pm. Much much more than any annuity insurance schemes can pay. Also another reason to bring in more foreign workers and talents to occupy these flats. Now, why still insisting that Singaporeans must pay for compulsory annuity insurance?

Mysingaporenews, MyPaper, YourNews

Inadvertently mysingaporenews has started a new trend and we are seeing the same concept creeping up now and then. We have YourNews in the TV and MyPaper in the newstand. Yes, we are now in an era where we, the readers, the bloggers and forumers, are the news creator. We create the news we want. We decide what is interesting and what is not. We are breaking free from the era when the msm dictates to us what we can read and cannot read. This platform is your news! You decide what you want to say and hear. No one is there to edit what you say and change your wordings.

Another way of looking at the taxi issue

The fare hike has achieved its objectives, partially. At least the commuters are now happy and cheering. When they raised their hands, several taxis will zoom in. That is what paying more for service is all about. You pay more, you get the service. And for those in emergencies and needed to rush to hospitals, the taxis will now be faster than the ambulance, and cheaper too. Just a little catch. For the poor hardlanders who may not be able to afford the new fare and if they skip taking taxis, a life may be put in danger. We don't want to hear people dying because they could not afford the taxi fare to rush to hospitals don't we? And they have done this with only a 30c increase in flag down rate. I was recommending a $10 flag down rate to make it effective. Singaporean taxi passengers are misers. The taxi fare here is one of the cheapest in the world. They should be more willing to pay them for the luxury service they are getting. Just like our flats, they are very cheap compare to other big cities. There are more room to raise them higher. After all Singaporeans are rich and can afford them. And they are all getting bigger pay checks and bigger bonuses. Singaporeans can look forward to a future of plenty. Would there be a recession, or would Singaporeans price ourselves out of the competition? Have no fear. We are the best and all the big MNCs will be hear to provide jobs for us. If not we can depend on our govt and GLCs. We have a lot of money to pay out. Long live the golden years.

It is too early to tell

Election is too far away. And people are easily won over by a few goodies near the election. And why are the taxi drivers making so much noise? It is too early to tell. The fare hike just started for a few weeks and they are complaining. They did not know how much effort and studies were put in to come out with this fare hike to help them earn more. All changes takes time to work. Give it another few months and things will settle down. Once the people get use to the high fare they will have to accept things as they are. Those travelling on business and company expenses will continue to do so. Those they cannot tahan the jam in the MRT and buses will turn back to taxis, just like the ERPs. Taxi drivers should have no fear. The passengers will come back and their income will soar. There is no need to resort to giving discounts. But they can be assured that if things do not work out, they can do anything they want. The official view is that 'cabbies are essentially their own businessmen...It is their prerogatives to give discounts to their customers should they so desire.' Now when passengers are not coming back, they can go back to the olden days of 'par hong chia' and do away with the meters as well. They can negotiate with the customers for the fare. Would that be possible? Ok, maybe not using the meter is not allowed. Then be like A.L. Tan and paste an A4 paper stating the discount on the windscreen. Liberalising the trade huh? PS: This view is to please the believers or else they will attack me for pouring cold water on such a well conceived fare hike.

Help needed with higher cost of living

This is the headline of Gabriel Chen's report on a public dialogue session chaired by Josephine Teo last night. 'Retirees, civil servants and salaried workers were united in demanding that the Govt do more to alleviate higher transport costs and food prices. "The current hike in taxi fares - it's becoming ridiculous," said Madam Adeline Chan....Mr Colin Tan chipped in with a radical suggestion: have a two tier GST - one for basic necessities and the other for luxury items.' Like it or not, believe it or not, the pain is sinking in. With the spate of increases coming one after another, it is going to hurt many. In another article by Goh Chin Lian, MP Inderjit Singh was quoted to say that 'one way to relieve the burden on such middle income families is to lift the GST on essential items....He also thinks that the Govt should not have allowed those costs within its control to spiral upwards too quickly...ie not just utilities, rental and other govt charges, but also the property prices.' Economist Tan Khee Giap also 'believes that such institutions and corporations as transport operators SMRT and SBS Transit, should fulfil their social obligation by moderating inncreases. "We are not saying they should run at a loss. But you don't have to make abnormal profit.' These are sensible comments by responsible people, including redbean, but have fallen onto deaf ears. What I think is that the policies are worked out and approved by people who are too comfortable in their lifestyle and have totally lost touch with the hardlanders. The alternatives suggested were not complicated and complex sciences or mathematical formulas that are difficult to understand. They are rejected probably because some supertalents insisted that their assumptions and policies are right and good and do not want to be proven wrong. The verdict will be out in the next General Election. There is no need to insist on who is right or wrong now. PS: For the unthinking doggies who were ordered to disrupt blogs and forums without questions, the above are quoted from the Straits Times, the official paper.

Money nobody wants

Believe me, money on the floor and no one wants to pick them up. I was in town and walking past a shallow drain, the type that is less 10cm deep, just a little below ground level. And there were 3 coins in it, 2 ten cents and 1 twenty cents. And the drain was dry and clean. Everyone just walked by without bothering to pick them up. Now I know why beggars are asking for $2!