The Return of LKY

There is no doubt who is in charge in Singapore. Whatever the ministers are doing, there seems to be tacit approval before they could be passed as govt policies, except for trivial policies and issues. And when things get rough, LKY is there, the real goalkeeper. He is the final stage of defense and will not let anything go pass him. With his declaration that there should be no retirement age, no retirement, work till death do us part, LKY has announced his return to politics and govt. It is very likely that he will run for Tanjong Pagar in the next GE. I see this as a good sign. We never have anyone that is near his calibre after all the years of scrapping the bottom of the barrel and paying multi million dollar salaries. LKY is still the man that everyone looks up to, locally and internationally. And he is everywhere today, a little slower but not his grey matter. He could talk his way out against the best minds anywhere. He is still sorely needed to run the country and keep things in order. Let's return LKY to power and resume his rightful position as the PM of Singapore in the next GE.

Good news for first timers

This is the headline in Today paper. It reported that 95% of 4 and 5 rm flats in two BTO projects in Bukit Panjang and Jurong West will be set aside for first timers. So, should first timers be happy? What about those first timers that have been kicked out of the HDB queue and no longer eligible because of the low building rate in the last few years? Many young professional couples would have breached the salary ceiling after 2 or 3 years of work and if they did not get the flat in time, if they found a partner late, they will no longer be able to buy HDB flats even if they are first timers. And their plight is that they will be forced to pay through their noses for private properties. It is like hanging a huge debt on them just when they are starting a new life. It is a very cruel situation for young people to be forced to take up huge housing loans because of mismanagement in public housing policies, or is it an imbalance in supply and demand? And they have to pay the price for the imbalance. Where is the good news to this group of first timers? The media shall do a survey on how many young couples have been forced out of the system and put out a story on this. With housing prices shooting to the sky, every Singaporeans must be eligible to buy a HDB flat. They have served their time in NS, and are expected to fight to defend this country. Why should they be deprived of a public housing flat when new citizens who have not done any contributions to the country, no NS, are eligible to buy public housing?

Work till death do us part

The new mantra, to work for as long as one is able, no retirement age, will take the Singapore employment scene by storm, that is, if it is implemented. And this is very likely so as the advocate is none other than LKY himself. What does this simple change in employment policy means? Colossal! We will have more ancients staying in politics and govt till the end of time. Legislation will have to be changed. CPF will be obsolete. Lifestyle will change as 60 will now be the prime of one’s life and 20 to 30 years more to go. The young managers, in their 30s and 40s will have to make way or wait long long. The oldies will be making a comeback. And we may not need a 6.5 million population after all. If everyone is employable and working, the workforce will not shrink so dramatically. And it really makes sense to our 25 to 30 year education system. Such a long education will be a complete waste of resources if the graduants only can work for 20 or 30 years. Now, with no retirement age, the productive years could be extended to 50 or 60 years. I am all for it. Anyone want to employ me? Can take another 30 year mortgage! Wow, HDB flats repayable in 60 years, … cheap, cheap, cheap.

Notable quote by Jack Lin

'WE got first class ministers and Govt, but still got third class citizens'. By Jack Lin The above quote posted by a YPAP activist in the PAP Facebook is incurring the wrath of netizens and PAP leaders are coming out to contain the damage. Jack Lin too has came out to apologise and explain what he actually meant and not to insult Singaporeans. My view is that Jack Lin, like all netizens, should be free to express his views. We all have strong views of things, positive and negative. It is a freedom of expression and people can agree or disagree with him. Jack Lin and his comrades can then defend their position and eventually a common ground would be reached and both sides will understand each other better. What's wrong with a personal view like this? Netizens took offend in the sense that the view could be a reflection of the party or the likes of what future PAP leaders will be. The party can easily come out, like it did now, to say that it is just an individual's viewpoint. Period. It is a healthy discourse which naturally has opposing views. As long as everyone is sensible, keep it to the topic and not resort to name calling or suing, I would say, let the debate continues. And Jack Lin should be free to say what he wants to say. In fact everyone should be free to express his views, logically and coherently of course. We cannot keep people's views, especially genuine and sincere ones, under the lid. It would be hypocrisy.

China did the right thing

When faced with American provocation and drum beating to raise tension in the Korean Peninsula, China did the right thing by telling the provocateurs to get lost. What China did was to conduct its own war exercises in its coastal waters. And by so doing, it activated the live firing zones in the Yellow Sea. So live rounds would be fired and if American and South Korean ships strayed into the area, it would be at their own risk. And the risk would include the surrounding area as the soldiers could misfire or fire at the wrong place or wrong target. The Americans knew that China meant business when protecting its own territorial waters is concerned and quietly move their war mongering to the sea between Japan and North Korea. North Korea should do the same, start its own wargames and activate the sea as a live firing zone. Then stray bullets and missiles can hit wrong target accidentally. That should keep the warmongering nations at bay and to think twice. North Korea is not Iraq and the Americans could only second guess how far their missiles can go. The west coast states of America should not be a problem.

Trading companies instead of trading stocks

I have this enlightening theory about trading stocks. Ok, it is not new. Sell stocks of mature companies and industries. These are old and have very little growth potential. Buy into growth stocks in emerging markets and industries. Such stocks have very high potential for exponential growth. Ok, there are some risks involved. Out of 100 maybe 90 will fail or fold up. But the 10 or so stocks or companies will make enough to cover for all the losses. This simple theory can be applied to buying and selling companies as well. For example old mature companies like banks, SIA, Keppel, Sembawang Corp, SPH etc etc, are all too old and ripe. Not much growth potential. Take profit and sell them away. Use the cash to buy new growth companies, companies in emerging economies or growth industries. If one hits a good one, like Apple, never mind losing the rest. Oh, just a word of caution. When applying this strategy, make sure that it is not your own money that is put at risk. The best way is to set up a fund, use other people’s money. At the worst, if the theory does not work, just fold up the company and start another new one.

The Economics of Pragmatism

We don't have enough land, above and below, to build longkangs to prevent floods. Our land are about the most expensive assets in the world. We need them to generate wealth than to collect rain water. We may not have land for longkangs, but sure we have plenty of lands to build prime properties for big profits. And sure we have plenty of land to take in another 5 million people. The main consideration is to squeeze as much value as we can from the plentiful or limited land, depending on how one wants to view it, so that the developers can laugh all the way to the banks. A little flooding is acceptable. That we can live with, but no land shall be wasted. It is all about economics and maximisation of returns. I hope no property developers reading this seriously think that they can build properties without having to build longkangs. Shouldn't the two be part and parcel of developing infrastructure? The more buildings and structures are built, the more people living on them, the need to have more longkangs and sewerage pipes. Economics and profits may be important, but the longkangs are complimentary to the existence of all the infrastructure and cannot be dispensed with. You can have your buildings, but you must built a network of longkangs to make the place liveable. Like they say, you can't have your cake and eat it as well.

Myth 222 - The Ignorant Singaporean Myth

How many people really believe that Singaporeans are ignorant? I don’t believe a wee bit that Singaporeans are ignorant at all. Singaporeans know exactly what is happening around them. Even the non graduate talents like Jack Neo and Mark Lee are as street smart as the university graduates. And they too know what to say and what not to say, what can be joked and what cannot be joked. The reason why Singaporeans are reticent and appear stupid or ignorant to some is that many are perfecting the art of Tao, the art of doing nothing and all will be done in due course. Yes, when the boat nears the bridge it will straighten itself. In a way Singaporeans are quite like the Thais. The Thais are known to be overtly loyal and obedient to their revered king. But time is near, and they are talking. Even Ahbisit told the military and the King to stay out of politics. And many Thais are saying, quietly in private, and now openly, calling for a change in the political system, without the King and the military’s meddling. Who knows how long will the Thais continue to revere their King and how long will the monarchy last? The Singaporeans are as ignorant as the Thais. Oh, I am not saying that the Thais are ignorant. The word ignorance has a different definition and meaning in a different context and time. So, how many people believe that Singaporeans are ignorant?

Willing the problems to go away

In paradise this is the easiest thing to do. There are many problems and there are no problems. Does anyone hear about problems of high insurance premiums? Does anyone hear any complaints about the 40% hike in public transport fares? Does anyone hear anything about CPF, CPF Life, Medisave, minimum sum schemes that turn your money into fixed assets that cannot be moved? The extraordinary rain and extraordinary floods are just acts of god. And the mess in public housing demand and supply is only an imbalance, maybe also an act of god. The trick about willing the problems away is not to talk about it, not to report in the media. Then quietly the problems will disappear. This is Singaporean ingenuity.

IMF warns of Spore inflation

'Singapore's inflation is likely to accelerate and policymakers should stay vigilant on the outlook for growth and prices, which may require the "further calibration" of monetary policy, the IMF said....' This is quoted from a front page article in mypaper today. When I read this statement the only thing that came to my mind is that the IMF is talking nonsense again. Where got inflation here. If there is any inflation, it is good inflation. These people from nowhere think they know better than the locals. A 5 rm flat may cost $30k 35 years ago and $600k today. But this is not inflation. It just so happen that Singaporeans have too much money and savings and don't mind spending that kind of money. And what's wrong with it when they can brag about how expensive and asset rich they are now? And then there are foreigners who are willing to pay more for the public housing flats. This is proof that the properties are worth every cent they paid for. It is not inflation and there is no inflation. How could there be inflation when the annual inflation rate is 3 to 5% or even lesser?

I am so lucky

I won’t say that to Wally. You see, Wally thought he was smart and had a good deal when an FT bought his 3 rm flat for a fortune. Yes, it was a fortune for Wally to build a palace in LiJiang. The palace is up and Wally the emperor is enjoying his life there. But little did Wally know that the FT, if they are worthy to the name FT, must know something more, or is smarter than the locals. And the FT has proven to be right. The ridiculous price that he paid Wally was not ridiculous anymore. The price of HDB resale flat is going up and up and the FT is going to make a fortune. Wally thought he had a good deal. But the FT is having a betterer deal. All he needs to do now is to sit on this little gold mine and see his fortune grow by the day. Wally must be regretting now. I almost sold my little flat too to join Wally. On hindsight, I can now celebrate for procrastinating to sell my flat. If the FT is right, another 30 years I may be able to buy 5 palaces in Lijiang instead of one today. And if I wait longer, another 30 years, I wonder how many more palaces I could buy. So I am just going to feel good about my little HDB flat and my good fortune. Its price is going to go up and up. And I can keep smiling and smiling as the media keep a good daily update of how expensive my little HDB is getting. Oops, I mean how worthy I am by the day with my HDB flat appreciating in value in an unstoppable manner, and more FTs and those citizens that were squeezed out of the HDB queue came knocking to offer me more. The COV is enough to see me retiring, smiling into the twilight. To borrow a phrase from Wally, I am waiting for the next sucker that is going to pay me more for my HDB flat?

Who is paying for the flood damages?

I shouldn't be asking this question as the answer is obvious. Someone's slip and well, it was just a slip. Maybe it is not a slip, just an insurmountable act of god. The insurance premiums for the shops and houses are going up. And the insurers, would they be content with just those affected by the floods? For safety measures, they will apply the new premiums to as many insurees as possible. I am not suggesting that more bonuses could also be bundled into the premiums. The building owners too will have to upgrade their structures and services and all the cost will go the way of the tenants as well. The shopkeeper will know what to do. They are not going to bear the cost for sure. The price of their goods and services are going to go up. Not sure how the owner occupied properties are going to spread the cost or pass the buck. In general, all the consumers will have to pay for this act of god that no human feats can overcome. And some silly buggers are comparing how lucky we are by looking at China and other countries. For one, their wrath of nature is many times for formidable than ours. Our rainfall is like a tropical thunderstorm. Yes it is a tropical thunderstorm that we have lived with for many generations. What is all this nonsense about typhoons being in the picture? And for a little piece of rock and we can't deal with it? Nevermind, just bear with it and with the higher cost coming our way. Maybe we need to import more super talented FTs to help us. Just make sure they don't recommend that when it is going to flood, move to higher grounds.

Asean should censure the US

It is heartening for Asean to ignore the American pressure to impose sanctions against the North Koreans on a drum up charge by a kangaroo court that the North sank the Choenan. The fact or the truth is still in deep water and both the Americans and South Koreans are afraid to let an independent international team to investigate the evidence which they claimed were facts. This is a real slap on the face of Hilary. She and Gates were the most vocal at the Asean Summit in Hanoi, trying to drag Asean to condemn North Korea without giving Asean a chance to verify the truth. They kept shouting that the North Koreans were provocative when they conduct war drills at the North's doorstep and wanted to freeze some 100 North Korean bank accounts overseas. With such outright provocations, instead they are pointing the fingers at the North Koreans. Asean should pass a resolution to censure the US for their provocative acts against North Korea. Further, they are trying to incite the Asean countries against China by offering themselves as the mediator to the counter claims to the Spratleys and Paracel islands. The countries involved in the disputed islands have more or less reach some kind of understanding or agreements. The Americans would not accept that and want the issues to be blown up and raise tension between Asean states and China. Such stirring of shit is the standard operating procedure of the US to get other countries to be at each other's throat. How clever of the evil empire.

Do we need million dollar FTs?

Do we need to employ multimillion dollar FTs to tell us that if we don't take lunch break our productivity will go up by 10%? You pay me half of that and I will raise productivity by 40%... by extending trading hours by 4 more hours. How about that? And all our workers need just add another 2 hours of work and our economy could grow by another 10%. And Swee Say please don't worry about quality of work life. No need to talk about CBF. Just work 24 hours better still, more productivity. What is the problem with the stock market that such a desperate measure is even thinkable? Is the market doing roaring business? Running out of ideas or didn't know the real problems facing the market? Why are so many retail investors losing their pants and losing faith in the market, and no longer in the market? Is the market fair to small traders, a level playing field for all investors? Are there parties that are having extra advantage and wiping out the small investors? Are the hedge funds and big funds operating like trawlers, scoping up everything and destroying the market in the process? I don't believe that none of the supertalents knows what is really wrong with the market. I also believe that some will know that scraping lunch break is a silly idea and would not do any real good to the market if the flaws in the market are not removed. If they don't have any idea, just ask Obama or see what he is trying to do to save the American stock exchanges.

FTs without the local losers

What would this country be without the local losers? One thing for sure, no more soldiers and uniformed personnel. No one will be buying the overpriced HDB flats. And no one will be fighting with the FTs for train and bus seats. And no complaining about govt policies.

Notable quote from Remy Tan

What a country needs is not just talent, but also commitment and loyalty....Remy Tan Remy Tan wrote to the ST commenting on the Wharton and Harvard couple who decided to move to Singapore because Singapore benefits them but then changed their minds because of xenophobic postings in the blogs. I can agree with Remy Tan's comment but with some qualifications. What he said is only true if it is a country. If it is a hotel, then what is needed is more talents and not commitment or loyalty. And this is the exactly what is happening to the MNCs. All the executives are creaming off as much as they can from the organisations knowing very well that at some point in time they will have to leave. There is no need for commitment or loyalty to any organisation or country. It is one's own pocket and interests that matter. Are we building a country or are we turning it into a hotel? A hotel always places the interests and comfort of its guests first. The staff are there only to work and collect pays. If we go the direction of the hotel, then what we need are talents and more talents and more talents. No need commitment nor loyalty. The latter are foolish ideas to con the fools.

What is a little extraordinary rain?

We have overcame many extraordinary challenges to make us what we are today with extraordinary men paid with ordinary salary. Today we have extraordinary men paid with extraordinary salary and we could not solve a little problem caused by a little extraordinary rain. Singaporeans are gasping in disbelief. They would be less demanding and would expect much less if we have ordinary men paid with ordinary salary and trying to overcome extraordinary challenges. Men like Goh Keng Swee and his colleagues would be turning in their graves knowing that we are now stumped by a little extraordinary rain. And more unbelieveable, we have not only extraordinary men but also super foreign talents to tap their expertise from. And we have all the money to pay for it. All we need to do is to throw some money into the air and many great solutions will instantly appear.

Singaporeans queuing up to be maids

After yesterday's report of a maid inheriting $6m from her employer. I am also thinking of becoming a mate, oops, I mean a maid, and hopefully inheriting a couple of millions as well. Being a maid can be quite rewarding at times. My friend's mother gave the maid her diamond ring after a few month's of care giving. The maid was so attentive to her needs, helping to wash and bath her as well. There are wonderful maids and maid employer relationship. There are the other extremes when employers took every advantage of maids, like tying shoe laces in the public when the employer could do it herself. My friend employed a maid with tying shoe laces as a primary duty. He could not tie his own shoe laces for he could not see nor touch anything beneath his waistline. Anyone want to employ a male maid, with a carrot of a few millions at the end of the contract? I know many Singaporeans are already asking to be maids under the same terms. It is not really a bad job or a bad idea you know.

The Americans trying to start World War 3

The intene provocation by the Americans against North Korea should not be taken lightly by the world community. The Americans are fabricating all kinds of charges against countries across to the world and raising tension to precipitate a world war. Any miscalculation at the Korean Peninsula could easily burn down the two Koreas and Japan and could drag in the rest of the world. China and Russia will definitely not be standing by idly while the Americans go on with their rampage and destruction of the two Koreas. The UN should initiate an independent investigation into the American claims of the Choenan sinking, send a team to verify the evidence and settle the issue in the name of world peace and justice. The UN cannot continue to standby on the side line like a lame duck or accomplice of the American evil scheme to burn down North Korea at the expense of turning South Korea as a war collateral. Only the silly South Koreans will go along with the scheme and foolishly ignorant of how adversely would they be affected should war break out. The world community must pressurise the UN into action.

Papa coming out to help

Can any of you remember the days when we were young and needed to hide behind papa? Or can any of you recall how your little boy or girl came to you for help or hid behind your back while the teacher reprimanded them? It is a very powerful tactic to invite papa to stand up for you when you are young and running out of excuses. This is even better if your papa is a big time gangster as in Jack Neo's movie 'I not stupid'. I am waiting for his next movie and I am sure there are plenty of social issues and material for him to work on. He may want to try one with the title, 'Inviting the god' or 'chea shin' in Hokien.