It is all market forces

Now what shall I write this morning with COE hitting heaven and Sheng Siong still in the limelight? Shall I rejoice that my car can now be sold more than the price I bought? Between the two hot issues now, both have a same vein to stretch. COE prices are the result of normal supply and demand. No one is at fault. The system, like the BTO scheme, is well designed and the best. The govt has done it part. So let's live with the high prices. The alternative is to have all our roads turning into car parks. So bite the bullet and pay. For those who cannot afford to pay, please, go and take public transport. If you can't pay, you don't deserve to be driving a private car. This is the reality of life. Got money got everything. No money, diam diam. As for Sheng Siong, HDB has stepped in to warn that if prices go too high, Sheng Siong would not have enough stall holders to sell produce in the wet markets. Have no fear, Sheng Siong can run all the stalls by itself. This is business. Sheng Siong is out there to do a business and will respect market forces. If all the current stall holders quit, the better. I am confident that Sheng Siong, being a successful business empire, will have everything thought out and planned. No one should interfere with market forces. The stall holders can go, the customers can refuse to patronise, doesn't matter. And Sheng Siong being the market owner, is free to set its rentals and the tenure of the rental. It is free market practice. Now who is out there trying to temper with this classic economic theory of growth? If Sheng Siong can raise fee another 50%, and if there are stall holders who are willing to pay for it, so be it. The Ah Sohs and Ah Mahs who think the prices are too high, can take a walk. I mean they can take a bus or MRT to another market to buy. No need to depend on Sheng Siong if they are not happy. Then there is FairPrice always ready to serve them at fair prices. What's there to complain about? Storms in the tea cup! Now, what am I saying? Early in the morning, a bit blur like sotong. I really like the way I talk down to the losers: )

Pig talk and pig logic

This guy was very hungry and he went to the pig to ask for bacon. The pig snorted. 'Wait for my piglets to be born, and another one year they should be ready for the table. Now go away.' So the hungry man went away, hungry, and waiting for the bacon to be ready. The pig had solved his need for bacon, to be delivered in a year's time. Would the hungry man survived while waiting for the bacon to arrive? Or would he find a subsitute to ease his hunger pang? Oink, oink, oink.

Trading mentality, changing places

We have this great tradition as a trading port. I think this has been in our blood for too long that it is becoming a part of us, our culture and mentality. We will trade everything, anything, for money. We sold our power stations probably seeing their yields or future not going to be too bright. Now we are going to India to buy power stations because the growth potential for power is very promising. We have developed ourselves into an education hub to earn more foreign currency. Education as a business can generate a lot of revenue if the fees are high enough. And we are very successful in getting foreigners to come here for their education. In the meantime, our children will not have enough places here and have to go elsewhere for their education. We have limited places for medical education. And many of our bright students have to go overseas to be trained as doctors. But we also have a shortage of doctors here. So we import cheap doctors from other countries to fill the gap. Isn't it funny? We tell our not so talented to go overseas to work. In their place we import foreign talents to replace them. Singaporeans sell their properties here just to be able to buy properties elsewhere. All these are very good and healthy for the economy. Just keep trading and exchanging goods and services. One day we may even trade our not so marketable parents for new and more efficient parents.

A simple way to solve the housing problem

The ST has a full page coverage on the housing problem that is making a small section of the population crying foul. It even features replies by Mah Bow Tan on the issue. Would it make any difference to the problem? Nay, except to make it worst. There is really no problem at all, and it is so easy to let the problem, if it is real, to go away by adopting a few simple measures. The first thing is to prevent the real estate agents and developers from talking up the market and frightening would be buyers of homes. And the speculators seeing so much money can be made will keep the musical chair game going on. At the moment the agents and developers are just adding fire to an already over heated oven. And some organisations are setting up indices on housing prices to tell where it is heading. Another no no. It can be very alarming as well. The third thing is to make sure that there is a blackout on housing news. Don't talk about it, don't report about it. After a while it will die down naturally, and the problem will be no problem anymore. But there is still a loophole in the internet. The nasty and irritating bloggers will want to continue to keep the topic alive. This hole must also be closed. Then all will be peace under heaven. The problem will go away if it is not in the news anymore. Like that can or not?

Another avenue for speculation

Yes, another opportunity presented itself for speculators to make money. Other than speculating in properties, the latest is COEs. With the prices going up dramatically, many people are making big money from trading COEs. And don't forget the market for second hand cars. Back to the good old days when a car's value appreciates over time, like properties. Buy now, use it for a couple of years for free, and sell at a profit. Fantastic deals. Now Singaporeans should rush out to buy properties or cars to make instant money. And if COEs go back to $100k, wow, bee tang again. Reinvest the profits in more cars and more properties and leverages, the more leverages the more profits. Making money is so easy here. Time for celebration.

Missing a golden opportunity to make money

Our population has surged more than a million in the last 10 years, and many thanks to the new immigrants, PRs and new citizens. And many more are queuing to come in. If this is the case, why don't we place a small fee for application or successful application to be a PR or new citizen? If the demand is real, if we are that desirable, there must be a value for something that is so good. What is the price to be a PR or new citizen? In real terms, PRs and new citizens tend to benefit a lot in financial terms through the buying of HDB flats and all the subsidies in medical, education and other govt services. Then there are the occasional angpows that the govt is giving out in subsidies for conservancy fees, in New Singapore Shares or special govt handouts. All these are real monies that go to the PRs and new citizens the moment they are accepted. Shouldn't they be priced in to bcome one of us? A $100 application fee, a $5,000 approval fee for PRs or a $10k fee to become citizen should be cheap compare to the immediate gains awaiting them. How come no one is thinking of making some money out of this business? Oh, they have not privatise ICA. I think they should and make it a profit centre.

Is this a new kind of discrimination?

There have been complaints that employers discriminated against job applicants in their job advertisements by stating preferences for race, language or religion. This has incurred the wrath of the authorities and official statements have been made against such discriminatory practices. There have been promotional material and advertisements by NTUC to recruit employees based on merits alone. Below is an extract of a Shin Min Daily article, According to a Shin Min Daily report yesterday, a jobless Singaporean who went to a Bread Talk outlet for an walk-in interview was told by a Malaysian HR manager to back off: “We don’t want to hire Singaporeans. We look after our own first.” The Singaporean felt slighted and walked away in anger. When contacted by the media, Bread Talk claimed that they hire more “locals” than foreigners and is currently “investigating” the matter. It is not uncommon for HR managers who are foreigners to bring in their “own kind” at the exclusion of native Singaporeans,.... My god, how could this be true, Singaporeans being discriminated in their own country for employment. I hope the investigation proves that this is not the case. Singaporeans are the first choice for employment in Singapore. It cannot be otherwise. Please report to MOM if any company is practising discrimination against Singaporeans. The Ministry and NTUC will surely stand up to protect Singaporeans for jobs.

SDP going for the kill

Chee Soon Juan and his supporters were at Bukit Panjang talking to the wet market stallholders on the recent rental hike. He has a cause to champion and at the moment it seems that the SDP is the first political party that is seizing on this opportunity to win more supporters. Not only will they be getting the votes from the disgruntled stallholders, the aunties who are clamouring to have their rights to wet markets will go along as well. An issue like this will be another feather in the SDP's cap. They went in to answer a call when others are staying clear. Let's see if SDP could reap any rewards from this issue. If the wet market stallholders feel that when help is needed and no one came except SDP, it could make a difference.

Stupid and mindless Singaporeans at it again

Singaporeans, sad to say, are unable to create their own identity. They only imitate, anything, from anywhere, good or bad. The Ang Mohs like to go pubbing, so Singaporeans go pubbing. The Ang Mohs like sarong party girls, so our girls all want to be sarong party girls. I must say going to pubs is any time better than going to bars. But wait till the Ang Mohs find out what's inside the new and revamped bars and the China Mei Meis in them. Ionescu has found out. Just wait, when the Ang Mohs flocked to these new bars, Singaporeans will all be rushing madly to these bars as well. Then we can say good bye to Mohammed Sultan, Club Street and Holland V. Today, the mindless Singaporeans have caught up with a new trend. They are now sitting in any empty spaces available on the streets, under MRT tracks, to have a drink, and party, just like the foreign workers. 40 or 50 years ago, the poor Singaporeans used to do that, for they cannot afford to pay to sit inside kopitiams. Neither were there nice aircon places that sell expensive but nice food and drinks and be served by waiters and waitresses. They made do along five foot ways, back lanes and besides longkangs or under any trees. So our young now think sitting on the streets, along pavements are cool. Hey, those are what the poor foreign workers are doing, for free. The smarter ones have already parked themselves in the casino. Ok, I know, casino is a no go for Singaporeans. Have to pay to enter. Oh, I forgot, the foreigners are to replace the locals from their places of comfort, and the locals will replace the foreigners, this time on road sides and street pavements. Now that is cool.

Horror story of the week!

This must be the horror story that sends shivers down the spine of Singaporeans. Chiam See Tong and Kenneth Jeyaratnam were seen together in a walkabout in the Bishan Toa Payoh GRC over the weekend. And speculation is that an alliance between the two is in the works with Chaim leaving his Potong Pasir ward to team up with Kenneth in a GRC. This, in a way is good news for the opposition parties. A new urgency to close rank and fight together, providing a stronger team instead of scattering their limited resources. What is so frightening about this news? Bishan Toa Payoh GRC is where Hsien Loong is standing. (Ooops, my mistake, AMK GRC is where Hsien Loong is) Chiam and Kenneth may take the battle to the Hsien Loong's backyard. And if sway sway they won, yes, if they won, you can imagine what will happen? Hsien Loong will no longer be the PM, plus his team of Singapore's best talents. Wait a minute, can the constitution be amended to co opt a PM that lost an election? Still a possibility if the PAP retains 2/3 majority in Parliament. That may save the day. But if sway sway again, no 2/3 majority, then we will lose the leadership of Hsien Loong. This is unthinkable. This is the real horror story that Singaporeans may have to face. Frightening enough or not?

A strange phenomenon in paradise

Singaporeans are increasingly looking to moving out of paradise for one reason or another. On the other hand foreigners are rushing in to fill up the places vacated by them. This musical chair is also evident in many areas, with foreigners taking over the places of Singaporeans. We have jobs, from the low skilled jobs that Singaporeans did not want to the middle level jobs where foreigners are cheaper and to the top end CEOs when foreigners are deemed smarter or more experienced or more qualified. Then what is left for Singaporeans? We built high end homes to sell to rich foreigners and Singaporeans downgrade and look for cheaper homes elsewhere. From the city to new towns and then to neighbouring countries. We built world class hospitals to service foreigners and encouraged price conscious Singaporeans to go JB and other parts of Malaysia for cheaper treatments. We built schools and universities with Singaporeans complaining that they are increasingly being squeezed out by foreigners for places. We built golf courses that rich foreigners could play and Singaporeans ended playing in Malaysia or nearby Indonesian islands. And the latest, we built casinos and foreigners can go in for free while Singaporeans have to pay or go to Genting Highland for free. And Singaporeans were given the message that if they don’t buck up, they will be replaced by foreigners. Housing agents, insurance agents, foreign student agents, in fact all agencies, Singaporeans are fighting tooth and nail with foreigners for a piece of the action. Is there anything that is exclusive for Singaporeans? Yes, National Service.

Sheng Siong has done a national service

The many outcries against Sheng Siong may be misplaced. Look at the bright side, Sheng Siong could be doing a good national service by helping to phase out the wet markets. Why go to wet markets when you can shop at nice, clean and aircon supermarkets? It is an outdated way of life. We must progress. No need to wipe hands and holding wet money notes. And the stallholders there are, hmmm, how to say it, anyway, cannot compare with the uniformed ones in the big supermarkets. And big supermarkets can buy in bulk and sell cheaper also. They have the muscles, the financial muscles to weed out the inefficiency of small stallholders. And the quality of life will be better. No more wet and smelly markets. And wearing pyjamas to market, an eyesore, will be a thing of the past. Who dares wear pyjamas to supermarkets? Look at the bright side. The stallholders can apply for work in the casinos or food courts. Plenty of jobs around.

The end game is Zero

We may be a multi culture and multi religion country, but the influence of Buddhism is widely felt and even practised as a way of life. Or at least one aspect of Buddhism is gaining prevalence without anyone realising it. Buddhism believes in emptiness. In the end all material things do not matter. We come naked and should go naked or empty handed. This is now a national philosophy. Many years ago we started this great saving scheme called CPF and the workers and employers contributed as much as 50% of an employee's income to the scheme. It was so successful that the Govt even switched its pension scheme to this scheme. The people were happy. They have enough in the CPF to buy their homes and then a handsome sum for retirement. The status quo lasted till probably the late 1970s or early 1980s when the savings in the CPF grew to such a size that it became very tempting to everyone. The CPF members not only smiled when the monthly statement arrived. They were rich with the amount of money in their accounts. And I am talking about the average workers, not ministers. As they said, the rest is history. Today, only a few lucky ones would have some decent money left in their CPF on retirement or to be passed down to their children. Every cent has been computed by all the interested parties to have a slice of it and leaving the owner practically just enough to meet his last rites. Some may say, but they still got a flat. Yes they do. But this is also computed that by the time they retire, they will have to trade it for some money to live on. And if they use reverse mortgages, that will be the perfect scheme in the game of zero. At the end no flat and no money. For those who have some money to live on and not having to trade in their flats, the flats also will one day become zero in value. I don't think this philosophy is Confucianist. It is fundamentally Buddhist in nature. The Game of Zero has been perfected. Come with nothing, leave with nothing. One qualification, it applies to the average Singaporeans only. PRs, foreigners and the rich are not part of this game.

Bloggers unite

Blog this shit: Open source information scares the pants of governments April 1, 2010 · Leave a Comment “If you bloggers self-organize and attach yourselves like leeches to specific issues, corporations, organizations, challenges, you will be the intelligence minutemen of this century. The power is in your hands. There aren’t enough guns to kill us all, and Haliburton can’t build the jails fast enough to keep us down.” I copied the above from Temasek Hedge. This is a video clip of a speech by Robert D Steele, a former intelligence officer, who said a lot of things that needed to be said. Other than the power of the internet, blogging and the role of bloggers, he talked about how govts treat its people as commodities, how govt benefitted from sponging the people's money, how America is committing war crimes and profitting from war, how central banks needed to be closed, how bankrupt America is today and awaiting to break up, and how you and me and every blogger can contribute to a better world. I strongly recommend everyone to listen intently to this video clip posted in Temasek Hedge.

Too much effort to write about rising cost of living

University fees increased, electricity increased, sigh, fee increases are no longer exciting news. It is happening almost daily so I am feeling tired of writing about them. Even rental of market stalls can shoot up for no good reason except a change of owners. HDB flat selling at $650k not high enough. Now Bishan EM selling at $900k with $170k COV. What else is going to go up? Salary, yes salary must go up or else who can afford to buy those multi milllion dollar properties. As for worker's salary, tkk. Worker's salary got to be kept competitive, not low, or else all the jobs will go away. Prices of cars were the highest in the world and are jumping higher. No country can ever dream of beating us in this.

Prices of resale HDB flats are stabilising

They have solved the problem of high prices. The resale price increase is getting smaller. COV increased from $12k to $24k in the previous quarter. The last quarter the increase was only $1k, at $25k. Good, more people now can afford to buy resale flats. Just prepare to fork out $25k first. And they are going to build another 12k flats this year and maybe more. So problem solved. Or is it? These flats will only be ready in 3 years time. In the meantime where are these people going to stay? And there are still several hundred thousand new citizens and new arrivals coming in daily. How are they going to add to the demand? How many out there are still waiting to buy their first flat and cannot afford to? And with this kind of indecent prices, is it supposed to be good? Have we reach a satisfactory equilibrium? But no need to bother now. Problem already gone. Everyone happy already. Job well done. BTO is the way to go.

A sickly feeling

We paid $350m to $400m to watch English football. And this amount is about 13% of the takings of EPL. Got it? This little piece of rock with a population of less than 4 millions financing the EPL to the tune of 13%! And Hongkong with a larger population, thus more viewership,0 paid less for the rights. Let's try to do the arithmetics. 10% of 4m is 400,000 people. If 10% of the population watch EPL, it comes to $1000 per head. If 1% watches, it will go up to $10,000 per head. Quite a sum for a past time really. Another way of looking at it, 4m people paid $400m while the rest of the world, 6b people, paid $2.6b or less than 50c each. If we take 50% of the rest of the world, it is still less than $1 each. With that kind of money, we can be a major shareholder of EPL.

Bharti Chief thanks SingTel

Bharti Chief thanks partners after signing Zain Africa deal On 03.31.10, In Mobile, By Editor . www.WirelessFederation.com/news: With the consummation of the US$10.7 billion deal with Zain Africa, Bharti Airtel chief Sunil Mittal extended his gratitude to its partner Sing Tel for providing its much needed support. As a co-promoter, SingTel holds 31 per cent stake in India-listed Bharti Airtel and therefore its support is critical to any major M&A deal by the company. According to Bharti Airtel Chairman and Managing Director Sunil Mittal who signed the deal in Amsterdam, the extremely tight time lines and the enormity of the task posed a real challenge. Bharti was able to achieve this important milestone through much hard work and support from SingTel and the external advisors. SingTel owns 31% of Bharti Airtel, can I assume it pumped in $3.2b or there about? I hope the thank you means we will bring in the profit and not a one way thing. Thanks for the contribution.

The price of over staying

Has the Thai King overstayed and creating a potentially dangerous political crisis in Thailand? Till now, he is still the most respected institution in Thailand, holding all the factional parties together. The military pledged loyalty to him, the politicians too, and the Thais obeyed his every words. What if he comes to pass? The prince and princesses will have to carve out a new mandate and relationship with all the factional parties all over again. And looking at the fragile make up of Thai politics today, it is going to be a very difficult task ahead, and chaos is the most certainty. The politicians and military will break apart as there is no dominant and accepted power to pledge loyalty to. This is how precarious Thailand has become today. What if the King has abdicated his throne a few years back and allow another King or Queen to assume the role of head of state while he retires and spend time playing with his grandchildren or romancing his kingdom while he still can? Given the few years, the new King or Queen would have worked out their own relationships with the people and political and military forces to be able to stand on their own. And when the time comes, the passing of the King would be just another day for mourning a monarch and nothing else. The failure to depart from the scene early enough is as good as planning for disaster to happen. Maybe he feels that he is indispensable and the country cannot hold together without him. Then it can only be worst when he is not around. If the incumbent King cannot hold his own fort and needs him to back him up, he is truly unfit and will definitely be dethroned when he is not around. That is an ugly fact and truth that will happen. Thailand is ready for a new chapter in history.

Punching above our weight

We punch above our weight in the international arena. We speak louder and carry more weight than countries of bigger sizes. Now we are faced with a third rate European country called Romania whose Charge Affair knocked down and killed a pedestrain and hurting a couple of others and ran away. Can we bring justice to the culprit? The culprit has been found guilty. But he had feigned illness and hiding in his home country and questioning our legal justice system, even claiming that he is being framed. And the Ambassador is resorting to telling us how difficult it is to bring him here. And he is covered by diplomatic immunity. In short, there is nothing we can do about it.b Diplomats are above the law! Let's see if we can punch above our weight and bring this rogue to pay for his misdeeds. How about breaking diplomatic relations with Romania? We don't really need them. Send them home packing.