I am back!

Practically every week there will be news on LKY making some calls on national affairs. After his revolutionary statement that there shall be no retirement age, the reports are the surest sign that he will be standing in the next GE. I believe he was the man who advised Deng Xiaoping to replace the old Chinese leadership with younger men and women in charge. China has done so and their leaders are mostly younger than ours now. We still have LKY, Jayakumar and Chok Tong in an age group that makes the Chinese leaders look boyish. So, why the dramatic change to keep the oldies going for as long as they are still kicking? Is it dearth of leadership, dearth of good political leaders? China is a big country with depth in talents. We don’t have the luxury. Look at the banks and you will understand why. The locals are just inept, not good enough, and you just cannot risk the banks with them. So there is a need to keep looking for foreign talents when the locals are just not good enough. For political leadership, things are a bit trickier. PRs cannot be political leaders for one. They need to change their ICs to pink. Only pink can do. For any newly minted citizens, preferably they should be pinkies for a few years to lend some credibility to be our political leaders. There is thus an urgent task to find and attract more foreign talents to boost up the quality of our political talent. In the meantime, the oldie trinity of LKY, Jayakumar and Chok Tong would still be needed to warm the seats and hold the fort. If this theory is true, then soon we could be seeing a Clinton, Brown, Gandhi or a Hu becoming our PM and leading us to a brighter future. Let’s welcome the foreigners with open arms. It is quite sad that with 2 million people we could carry ourselves to the first world. Now with 4/5 million people we are saying that our future will be doomed without more talented foreigners coming here to help us.

Is Superbug another health crisis?

The fear of H1N1 has just subsided after hundreds of millions of dollars were spent to stock up the vaccine by fearful nations, particularly those countries that have a lot of money to pay for the drug. The pharmaceutical companies must be very thankful for the monetary windfall for a crisis that was blown out of proportion and is now seen as not worst off than another variation of the common flu. The new hype, Superbug, is catching the attention of news hungry media. It is seen as another big thing by the European experts, and the monetary potential for big profits is very tempting. The Superbug is claimed to have its origin in India. The Indian health authority is not amused and angry that India is being picked as the culprit for the bug. And they too are questioning the vested and commercial interests of parties crying wolf. Could this be another cry wolf episode and a money spinner? Or would the world take this less seriously as the H1N1? Would WHO raise the alarm and pronounce this as another epidemic waiting to happen? Let’s hope that this is a false alarm. Let’s hope that countries were not made to waste precious money to hoard vaccines that may not be necessary. In this case there is no vaccine available for the next 10 years. But huge sums of money will have to be set aside for R&D to come up with a wonder drug. What if this is real? How are we going to be affected should we be found to harbour a big pool of carriers living in our neighbourhood? One thing for sure, our economy will shrink immediately if we are to repatriate in bulk, all the foreign workers from affected countries. There is a health risk and an economic risk. Our HDB flats will be vacant with no more tenants or foreign talents vying to buy resale flats. The property bubble will surely to burst, not because of a world financial crisis, but a Superbug. I recall the Year 2000 bug and how that also led to a crisis of worldwide proportion. This Superbug is an interesting development that could prove comical.

Notable quote by Lee Hsien Loong

"Let us welcome them with an open heart, help them to fit in and encourage those who will become citizens to strike roots here. If we do this well, by the next generation, their children will be native Singaporeans." Lee Hsien Loong The future of Singapore is looking very bright and exciting. We are going all out to woo the brightest talents from all over the world, including those who helped in one way or another to create the world's biggest financial collapse, to work with us. Yes, if we handle this well, Singapore's future will be rosy and good. And we have hundreds of billions in our reserves that would serve our future well too. And the large reserves will come in handy to the financial experts coming into our shores. Together with GIC and Temasek, if we manage these monies well, we may not have to work in the future. The money will work for us, with the help of all the financial talents. We are talking about our future getting better and better. Presumably we are doing very well now. And yes, many are doing excellently today except for the few oldies that needed $20 to help out in their transport fare and a few who have to live in the parks. Tell them not to worry, the future is looking really good, that is, if we handle the situation well. What if we did not do it well?

$20 for senior commuters

Gan Kim Yong is dishing out $20 from his CCC fund to senior citizens affected by the recent fare hikes in public transport. Only those who are 60 and above and have less than $1,500 monthly family income qualified. It is expected that this will cost the CCC $20,000. This is a one time payment though there is possibly of further payments. Is there a real problem affecting the senior citizens? After all it is only a few cents per trip. And this is not enough even to buy a can of soft drink. So why the hooha? Gan Kim Yong had received many complaints during his meet the people session. So there is a real problem. Other MPs are also getting more complaints on the same issue. If there is a problem, how is a one time $20 going to help remove the problem? Is this just a gesture of kindness or a temporary measure while the MPs are seeking a real solution to the plight of the poor oldies? Should those who made the decision to increase the small and irritating few cents of financial burden try to do something, like donating their bonuses to help them? After all their bonuses can come to several hundred thousands each and quite likely paid by these small increases? I don’t think anything will happen as the small hike is going to bring in many benefits to the oldies in the future. The hike is a good thing, helping the oldies. It becomes ridiculous to dish out more money for the oldies when they are supposedly benefitting from the hike. Or is it?

The Bankrupt of America

‘The US is bankrupt and it doesn’t even know it. Economy won’t be big enough to handle US$4 trillion in entitlements owed to 78 million baby boomers. Let’ get real. The United States is bankrupt. Neither spending more nor taxing less will help the country pay its bills….’ This is the heading and first paragraph of an article in Bloomberg, by Laurence Kotlikoff, Professor of Economics at Boston University. Yeah man, The US of A is a bankrupt country. And it is still strutting its stuff everywhere thinking that it is still the big boy in town. But the best part of this fiasco is that they think that they can act rich and spend their way out of this rut. They are going to print and print more greenbacks for the Americans to go on spending. This is the happiest solution that anyone can ever think of. In fact it is ingenious. A bankrupt spending like a millionaire and as if there is no tomorrow. And the problem will go away. When is America going to carry a bowl and go a begging in the streets of London?

Notable quote by Seelan Palay

“Before we begin, I’d like to clarify that I’m in the dock in shackles, cuffs and chains not because I have committed any crime. I am here in this state because of another unjust law administered on behalf of the PAP Government.” Seelan Palay I copied the above quote from jacob 69er. Seelan was speaking to the judge just before the proceeding of his trial. I totally disagree with the way we treat and handle our political activists with cuffs and shackles. Do we have to be so mean? They are not criminals and not violent. Many are well educated and responsible citizens. The Americans have their Guantanamo and think it is an acceptable thing. And the world kept quiet about the whole sordid happenings there.

A frightening and uncanny similarity

Please read the extract below from an article by Laurence Kotlifkoff, an economics professor of Boston University. ‘We have 78 million baby boomers who, when fully retired, will collect benefits from Social Security, Medicare and Medicaid that, on average, exceed per capita GDP. The annual costs of these entitlements will total about US$4 trillion in today’s money. Yes, our economy will be bigger in 20 years, but not big enough to handle this size load year after year. This is what happens when you run a massive Ponzi scheme for six decades straight, taking ever larger resources from the young and giving them to the old while promising the young their eventual turn at passing the generational buck. Mr Herb Stein, chairman of the Council of economic Advisers under US President Richard Nixon, coined an oft repeated phrase: “Something that can’t go on, will stop.” True enough, Uncle Sam’s Ponzi scheme will stop. But it will stop too late….’ Just think of our CPF scheme, and also the public housing scheme. The ever increasing price of HDB flats, direct from HDB or resale, is like taking from the young to pay the oldies. And of course, promising the young that the housing bubble will go on expanding, never ending, and they will reap their millions tomorrow. How long can this go on? Or as Stein above said, ‘Something that can’t go on, will stop?’

What is $10 million?

This is a statement that a friend of mine used to gripe about. He was cheesed off when he heard this statement made by an elite. That is another world of successful people who have made literally tons of money and $10 million is not money to them in the real sense. It is better that we come down to earth and talk about $100k. What is $100k? Some foolish people take this just as a number. What is $100k if the resale price of a 3 rm or 4 rm flat goes up by that amount? To the owner or seller of the flat, wow, I am richer. Think again. What is this amount to the young couple earning a combined income of $3k means to them? It simply means that they will have to work for 3 years for nothing, and that is if they did not spend a cent, to earn $100k to pay for the flat. In reality, people who earn $3k can at best save $500 pm. This means his debt or burden because of this $100k increase in the price of a flat will drag him down for at least another 10 years. For those foolish people who cannot see any meaning in a $100k increase in public housing price, please sleep on it. Or you may want to rubbish it as another gripe that is best not spoken and not heard. It is the problem of the losers.

Be thankful for the gripes

What would this island become if there is no gripes? One thing for sure, we will continue to see 3,000 public flats being built annually and the resale price of 3 rm flats could be $1m by now. And yes, our population will have hit 6m! And SMRT will be happily recruiting pushers to push the commuters into the sardine packed trains and happily announcing more profits. What else could happen? Ministers would be laughing to the banks with $10m salary. Floods in Orchard Road will be time for celebration and parties. Car insurance would be more expensive than the value of the car itself. And there will be many more mind blowing stuff that would be taken for granted, or as normal and acceptable. Gripes are like symtoms of a sickness. The symptoms appear, crying for attention to treat the disease. Failing to heed will only see the disease going from bad to worst. Imagine if there are no symtoms, like no gripes, the victim could be dead sooner without knowing why. Be thankful, be very thankful, that the people are whining and griping. Only deaf frog would not be bothered with whining and griping. They would not know and live in their own state of oblivious bliss. And some choose to be deaf frogs. The drones of vuvuzuelas are irritating. But they serve a very important purpose. Why have Reach? Waste of time and money indeed, if griping is seen as unhealthy and to be ignored, buried under the carpet. Don't want to know. Put on that 4m smiles and everything will appear fine.

Japan PM apologises to South Korea

Japan PM Naoto Kan apologises to the people of South Korea for the humiliating colonisation of Korea in the early 20th Century. The thought of colonising a people of another country, robbed them of their pride, culture and identity, treating them like animals and murdering them at their fancy, is something unthinkable today. How could any country go around thinking of colonising and subjugating another people of a different country? Such thinking was prevalent during the days of colonialism. Prior to that, hunting slaves was also acceptable in the European world. Though the world has changed since then, the domineering thought of superior race and of controlling other inferior races is still in existence in many countries. And some Japanese are still harbouring this grandeur of their past supremacy. The apologies by Kan has been attacked and rejected by some extreme quarters in the Japanese govt. It is disgraceful to make such an apology as far as this group of people is concerned. They would not apologise for the humiliation and atrocities inflicted on the lesser races, especially to the Koreans and Chinese and other Southeast Asian countries. Would Japan really repent and denounce their past militant doctrine given the fact that there are still many 'conservatives' who would want to relive their past glory? America is encouraging the remilitarisation of Japan as a lackey to wage war with China. Would this foolish act of the Americans, in unleashing the animal in the Japanese psyche, lead to more turbulent times in Asia? There is no honour in war and in invading another country. It is gangsterism at its worst.

We are doing it for Singaporeans

The govt is doing it for the sake of the Singaporeans. This is the most explicit commitment made on National Day by Hsien Loong. We need to bring in more foreign workers for the sake of Singaporeans. Can’t the Singaporeans understand what the govt is doing? What else were done for the sake of the Singaporeans? Higher GST, for the sake of poorer Singaporeans. Higher HDB prices, for the sake of Singaporeans who have bought their flats earlier. Higher minimum sum and Medisave, for the sake of Singaporeans during old age and when hospitalised. Higher medical fees, a world class medical care for the sake of Singaporeans. Higher public transport fare, for the sake of Singaporeans, benefits akan datang. The govt has been doing so many good things for the sake of the Singaporeans. Why are Singaporeans still complaining, whining and griping? Are the Singaporeans so dense that they cannot appreciate what the govt is doing? Look at the foreigners, they know exactly what the govt is doing and know how good they are. And they are very appreciative of what this govt is doing and fully support this govt. The dense Singaporeans should talk to the foreigners and get enlightened. KNN, the $100 levy to enter the casinos is also for the sake of Singaporeans.

Would your parents love you less?

Would your parents love you, or love you less, just because you are a little slow, a little dull, a little complacent? No, parental love transcends all the superficiality of physical perfection or human perceptions of goodness and cleverness. No parents will send their children packing because they are less able, and replace them with other people’s children. It is always children first, under all circumstances, and the more disadvantaged the children are, the greater the parental love and attention. Parents are protective and will sacrifice everything to care for their children. Would parents, deserving to be parents, bring home other people’s children to share the bowl of rice with their children, on the presumption that other people’s children will in the end make life better for their children? And why would other people’s children care for the well being of other competing children? Is this a fallacy or a high falutin theory? No worthy parents would ever think of bringing home better looking or more able children to replace their children, to bestow them with loving tender care. They make do with what they have, their less than perfect children. Most parents would continue to provide more, to make sure their less able children will not be disadvantaged. That is what true and genuine parenthood is all about.

Singapore’s two addictions

Be in Ice or Heroin, an addiction is an addiction. The danger of all addictions is that it takes more and more to get the same high. This means it cannot be stopped or hell will break lose. It is a vicious and very destructive cycle. Our country’s two main addictions are OPM and OPT. OPM comes from statutory boards and the CPF. These money becomes cheap loans to be invested, some called it gambling for big stakes, for high returns. Theoretically it sounds good, borrowing cheap money to invest for big returns. The problems come when the returns are not enough to pay for the low interest or the high operation cost. Then what? Don’t pay back! But this cannot do. The payback can be delayed, even for generations, but the time must come when someone will call for payback time. The Americans have been very successful in borrowing OPM and thinking that it was a good thing. It was a good thing when they can afford to pay back. Now their debt has ballooned to a point that they cannot pay back. It becomes a debt that is too big to pay back and too big to default. The consequences are grave. We are intoxicated by OPM and happily plunging into the same deep end as the Americans, thinking that there is no need to pay back. The truth is that no matter how many spins and schemes can be created to delay the payback, the spins and schemes only add to the gravity of the problem. There is no running away unless we strike lottery. For the last ten years or more we have depended heavily on OPT, Other People’s Talent. We saved a lot of cost to produce these talents and we used them cheaply, making more savings. Our whole economic growth formula is now dependent on OPT. Like OPM, it is another deadly drug. There are side effects to the addiction and there is a big price to pay for. No drugs that give one a high does not come with a price. What is this price and when will be pay back time? For the moment, we only see the good side of OPT and OPM. But like all good things, they are too good to be true. Anything that is too good to be true is dangerous. And the more dangerous part of it is that we cannot see the danger of it. The fundamental economics principles of hard work, thrift, small but genuine profits, not easy profits, high productivity, better goods and better services are discarded for high risks, high returns, for easy profits that we don’t have to work for it. Like the Americans creating all kinds of fictitious and worthless paper products to be sold to the suckers. Worthless notes, toxic notes, derivatives, are illusions that will go pop as they designed to do. OPM and OPT will also go pop one day. They cannot keep piling up with no limitations like turning on the tap and they will keep following. And like all fixes, you need more of them to sustain the next high.

South China Sea, an issue of US Commitment or Interference

Chua Chin Hon, ST’s Bureau Chief in Washington, wrote an article titled, ‘South China Sea issue a test of US Commitment’. The article can best be summed up as a western interpretation of events in South East and East Asia and the role of US to take charge as the undisputed Empire. It touched on how China was staking its claims to 80% of the South China Sea and how this would have rattled the littoral states. It took for granted the US position that 80% of the four oceans are part of their national interest without mentioning how the countries of the world would react to it. Then it pointed to the increasing Chinese military presence and drills as unacceptable developments while the huge military exercises of the American naval fleets in the East China Sea, Yellow Sea and South China Sea as how things should be. What is pertinent in the article is America’s leadership role in Asean. After Hilary Clinton’s attack on China’s position in the disputed South China Sea islands, which provoked a strong reaction from China, the Americans were quick to use this as an excuse to stake their claims to leadership in Asean and their role to lead Asean against China. As Ernest Bower of the Centre for Strategic and International Studies(CSIS) remarked, ‘If you rattle the cage with China like this and depart, you probably can’t be forgiven.’ And Bower added, ‘To be honest, there’s enough pressure now, particularly with the Chinese reaction, that it may require the Americans to take a leadership role (at this stage).’ This is exactly the intent of the Americans. Provoke a crisis situation and instigate the innocents to be a party to a dispute with the Americans as the undisputed leader. In Bower’s words, ‘I don’t see many Asean countries with the political courage to stand up and take the lead when the elephants are butting their heads.’ The Americans do not see the Asean countries capable of taking on the Chinese in a contentious situation when military is needed. Only they are capable of fighting a big country like China. Would the Asean states be dragged into a confrontation with China instigated by the Americans? The relationship between Asean and China has been one of diplomacy and peaceful negotiation. And Asean was and is able to take on China on an equal basis with no fear of China’s use of force. Would this stance be changed and Asean becoming another SEATO, an extended arm of the American Empire set to pitch against China in a military contest? Or would Asean be wise enough to steer clear of the American scheme of things and remain neutral and independent? The US is coveting a leadership role in Asean and this is the real issue, a test of Asean’s resilience and independence from big power domination. Has Asean been less effective over the years without carrying a mighty sword to the negotiating table and now see it necessary to have the backings of a superpower to conduct its dealings? Would Asean be goaded into a confrontation with China and turn Southeast Asia into a war torn region like the Middle East? This is what will likely to happen if the US is allowed to lead and dictate how Asean shall behave.

Notable Quote by Allan Snyder

‘I will be most distressed if my son comes back with a string of As. Going by my research, it would mean that he is probably not going to do anything exceptional.’ Allan Snyder, Director, Centre for the Mind, University of Sydney. Would words like these give comfort to our mothers and fathers of children without straight As and with some struggling at the bottom of the heap? I am no expert in education or predicting the future of children or assessing their potential. According to Snyder, his research shows that the champions and successful people have nothing to do with their academic achievements. Many have been very successful, even in technical and professional fields, without having straight As. Quite a number were drop outs from schools. The Americans have many luminaries in this category and so do we. Some billionaires in our midst would have been in the Normal Stream of our education system. The mystical thing is that their talents are not in the books. They are gifted or blessed to shine in different fields. How then can we persuade our parents to view things from a different perspective and not just straight As? Are there ways to change the mindset, change the branding and labelling, to accord recognition and acceptance of talents that are not academic geniuses but geniuses in their own rights in other fields? Where shall we start? We have been bungling with this notion of academic brilliance equals success and a good life, which is generally true but not the absolute truth. We need to take a different path, jump into the river or swim the ocean, to find ourself and our own meaning in life. Straight As will in all probability end up being a good civil servant, a good employee, and nothing spectacular. Many of the great inventions today came from non straight As students.

Aerial Photos of NDP

NDP Aerial Display

Just a few aerial pics of the NDP taken earlier.

National Day Message, A Retake

Every National Day is a time for reflection about what this country is all about. National Day brings to light the meaning of nation, and the perennial question being asked is whether we are a nation, or are we getting there. After 45 years of strenuous nation building exercises, sadly, we acknowledge that we are not getting near there. It is still a work in progress. Maybe this is a blessing. Why should we want to build a nation when we can have the best of both worlds? We can have the best people, the most successful people coming here to live in the best city modern history can provide, and we don’t have to be bothered with the responsibility of looking after incompetent and loser citizens who could not make the grade. Just simply tell them to go else where and the vacated place can be quickly filled up by more able and talented individuals who are hungrier and less demanding. An indirect way is to make the cost of living so high that they will quit voluntarily. Should we therefore be craving to build a nation? Or are we chasing a construct that is no longer relevant to a small city state? A hotel, a piece of prime land for those who can afford the best, with no obligations or commitments, no responsibility, run by a mercenary force of hardnosed businessmen should suffice. Let’s be real and pragmatic and reinvent ourselves. Ooops, ourselves is no longer relevant. There is no us or them. Only the board of directors of a prime estate offering its space for those who appreciate how well it is being run. No citizen to please, no need to plan for social security and cheap public services. Pay for what you get and pay to live here. Nothing is free. The present citizens can always opt out of the scheme, sell out, clear their CPF savings and move on. Let this be the last National Day and everything shall start anew on 10 August, no citizen, no NS, no govt services, no social services, no subsidies, no handouts, no entitlement mentality, no gripes. And no need to be bothered by unreasonable and demanding citizens. Ah, no need to build cheap public housing. Sell private properties only, to the highest bidder, to the one who can pay the highest market price. Welcome to the world’s Best Run Private Real Estate. PS. Of course I am talking cock. The difference is that I know I am talking cock.

More flats to be built in 2011

Mah Bow Tan has come out to assure the first time home buyers that more flats, to the tune of 16,000 units will be built next year, and more to come if the demand is there. It is good that he has implicitly acknowledged that there is a serious mismatch in the demand and supply of HDB flats and is trying his best to meet the penned up demand. The current spate of new flats being offered would ease the demand somewhat and perhaps slow down the surging prices of resale flats. This does not in anyway help those first time buyers that have been adversely affected by the shortage over the last few years. Many have to put off their marriage plans, baby making plans and whatever plans. Even with the current measures, it means that they will still have another 3 years to go before anything will happen. It is still a consolation that there is some light at the end of the tunnel. Would Mah Bow Tan stop at this? How would he compensate those that have missed the boat to get a HDB flat and were booted out of the HDB scheme when their incomes exceeded the $8000 ceiling, while trying to get a flat when the supply was low. And the policy then did not give first time buyers higher priority? And there are those that would now have to pay for much higher price HDB flats because they could not get their flats earlier. These first time buyers were callously dismissed by HDB and fell victims to its slow building phase and are adversely affected both in their plans to set up family as well as financially. Their plight cannot be ignored and the boosting of building programmes did not in anyway help this group of buyers or alleviate their problems. Some are caught between the devil and the deep blue sea, not enough savings to buy private and not eligible for HDB. Let’s see whether Mah Bow Tan would consider doing something for these people, or would he say just too bad, water under the bridge. Let's move on. Their problems were not totally of their own doing and Mah Bow Tan should shoulder some of the responsibility for not anticipating the mismatch of supply and demand. They have every right to demand HDB to reconsider their cases and bring them back into the HDB scheme. _________________

3 most costly expenditure of Singaporeans

The 3 most expensive items that Singaporeans have to throw their money at are property, car and hospitalisation. A simple flat is likely to cost an average Singaporean $1m by the time he pays up his mortgage. The cars which he would have to purchase in his lifetime would range from $300k to more than a $1m, to an average Singaporean. The rich would spend more than $1m for a car, let alone several million dollar cars in the backyard. Then, given the fact that a Singaporean will live past 80 or 90, the luck of spend a month in hospital could cost him another few hundred thousand. Add another $500k to raise a child through university, geeze, that's quite a lot of money to pay in one's lifetime. But Singaporeans are rich, so not a problem paying for them. Time to celebrate National Day for the good life and able to pay for it.

HDB flats are cheap and good

Kudos to HDB, said Chan Kok Wah in a letter to the Today paper forum. I agree with him completely. HDB flats are so cheap, when compare to the prices of private developers. They are extremely cheap when compare to those in HongKong and Tokyo. We should be so grateful that our public housing flats are so cheap when comparing with the two most expensive cities. Why don't we look closer and compare with what the Malaysian govt is giving to their people? You can get a 3 rm landed property for MY$120k. And this is about $50k! My god, if our $500k 5rm flat is cheap, I will go crazy trying to find a word to describe the Malaysian public housing. It all depends on what one is comparing. We are very good at using the worst to tell our people how fortunate we are. We never use the best in other countries to show how bad we are. Cheap, cheep, chip. Next please.