Who says the horse is sick? Who says it is a workhorse, a farm horse? It is every inch a thoroughbred, and a winner. This is the other side of the coin. I read somewhere that several hundred companies are queuing up to list in the SGX. With all the listing fees, the bottom line of SGX will be extremely healthy.
I think every little company here or in China or anywhere in the world would want to be listed here. It is quite easy to raise several millions or tens of millions when liquidity is plentiful. After collecting the largesse, the viability of the company is a different story. Many unforeseeable events can happen quickly and the business could easily fail.
Nevermind, can always start another new company and a new listing. And there are still plenty of willing investors with plenty of money waiting for new IPOs.
There were horror stories of foreign companies running road, with their top management disappearing into thin air. There were stories of companies being scavenged and only a shell was left. But they were not many enough to turn into a horror serial. It is normal for such things to happen.
SGX is the best run Asian stock exchange and competing with HK as the number two biggest exchange in terms of capitalization. Never mind if it hosted a large number of penny stocks in its main board. There will be more companies from the second board being elevated to the first board to make up for the losses.
And the volume of trades is increasing to the region of billions daily. At $1b trades a day, at 0.3% commission rate, that is a cool $3 million revenue to be spread among the industry players. Divide by a workforce of 6,000 heads, that will give an average of $500 per head daily. It is a very healthy industry.
If they can get all the companies waiting in the pipeline to be listed, the industry should be able to absorb another 1,000 staff with more money to spread around.
It is definitely not a sick horse. Just another side of a story. Look at the volume and volatility over the last few days! This is great time for stock trading with great opportunities to make a pile. Just keep selling, no need to think, and sure to make profits. The banks have lost something like 30% of their values and the major shareholders must be licking their wounds. But for traders, especially big funds and their wonderful high speed computers, they must be making a killing.
For small investors, sell the blue chips, or if not, wait for a while longer, they will soon become penny stocks. Then go in and scoop them up in buckets and wait for another 30 years. Sure to go back to $30. Our stock market is doing excellent and many traders and investors are making plenty of money. Good times are here again.
With the volumes in the billions, SGX must be collecting quite a lot of clearing fees. Broking houses must also be harvesting a lot of commissions. The industry is well and alive, and kicking.
10/05/2011
Shsssssh…Don’t tell anyone
When one has some money, it is better to keep quiet and don’t let anyone know. The moment words get out that someone has a pile of money, soon the money will be gone, if he is lucky. If not, his life too may be gone with the money. For those people still trying to ask GIC and Temasek to reveal how much they have in their kitties, please don’t. It is not so much about the big funds raiding them or attacking them in the stockmarkets. The things that would happen would be very simple and innocent, and with good intention.
Remember the American financial crisis? No, nobody remembers. They only remember the Global financial crisis. But it is the same thing. It was the American financial crisis that turned global, affecting the world. The main causes, subprime loans, housing price collapsed, CDOs, CDS, toxic notes, leading to the collapse of several major American banks and the rest of the financial world. They would not want to admit or lend the name America, to the worst financial fiasco in modern history.
What happened was that they knew GIC and Temasek got plenty of money and came to talk to them nicely. Citibank, Merrill Lynch, UBS, Barclay etc etc were queuing up at the door, like the Europeans now in China. GIC and Temasek were just too polite to say no. After all they just had too much money and lending some money to them was nice and proper, and good investments if they turned out to be good. The results, probably tens of billions down the drain.
This is the biggest danger in telling people that you have plenty of money. It stimulates people to think of ways to have a share of it.
Domestically the same story was repeated several times. The people have plenty of money in the CPF. This one unfortunately cannot hide. Public knowledge. So when people got so much money in the CPF, they can afford to buy a lot of things. And HDB flats were then sold to them, at market prices, according to their affordability, ie how much they had in their CPF. So a flat can be sold at $100k became $200k, became $300k, and still very affordable viv a vis the CPF savings. The rest is history. The CPF savings were depleted.
Then the medical professions also wanted a share of the money in the CPF kitty before it was emptied. They came out with a Minimum Sum Medisave Scheme, and a chunk was taken from the kitty for this noble cause. Cannot touch except for them or until mati.
Wait wait. The insurance man came and said I also want some. And CPF Life was born. Did anyone say money for gambling chips?
Anymore money left in the CPF kitty? See how dangerous it is to let people know you have money in the kitty? This is grandma’s wisdom.
Remember the American financial crisis? No, nobody remembers. They only remember the Global financial crisis. But it is the same thing. It was the American financial crisis that turned global, affecting the world. The main causes, subprime loans, housing price collapsed, CDOs, CDS, toxic notes, leading to the collapse of several major American banks and the rest of the financial world. They would not want to admit or lend the name America, to the worst financial fiasco in modern history.
What happened was that they knew GIC and Temasek got plenty of money and came to talk to them nicely. Citibank, Merrill Lynch, UBS, Barclay etc etc were queuing up at the door, like the Europeans now in China. GIC and Temasek were just too polite to say no. After all they just had too much money and lending some money to them was nice and proper, and good investments if they turned out to be good. The results, probably tens of billions down the drain.
This is the biggest danger in telling people that you have plenty of money. It stimulates people to think of ways to have a share of it.
Domestically the same story was repeated several times. The people have plenty of money in the CPF. This one unfortunately cannot hide. Public knowledge. So when people got so much money in the CPF, they can afford to buy a lot of things. And HDB flats were then sold to them, at market prices, according to their affordability, ie how much they had in their CPF. So a flat can be sold at $100k became $200k, became $300k, and still very affordable viv a vis the CPF savings. The rest is history. The CPF savings were depleted.
Then the medical professions also wanted a share of the money in the CPF kitty before it was emptied. They came out with a Minimum Sum Medisave Scheme, and a chunk was taken from the kitty for this noble cause. Cannot touch except for them or until mati.
Wait wait. The insurance man came and said I also want some. And CPF Life was born. Did anyone say money for gambling chips?
Anymore money left in the CPF kitty? See how dangerous it is to let people know you have money in the kitty? This is grandma’s wisdom.
10/04/2011
High-Frequency Traders May Face Tougher EU Market-Abuse Rules
By Jim Brunsden
Sept. 13 (Bloomberg) -- The European Union is considering
listing “specific examples of strategies using algorithmic
trading and high-frequency trading” that should be banned and
punished by regulators as market manipulation.
The measures to increase investor protection and reduce
volatility are part of plans to clamp down on market abuse in
the European Union, according to a draft of the proposals
obtained by Bloomberg News.
“There are particular automated strategies that have been
identified by regulators which, if carried out, are likely to
constitute market abuse,” the document says. “Further
identifying abusive strategies will ensure a consistent approach
in monitoring and enforcement by competent authorities.”
High-frequency traders have come under increased
regulatory scrutiny following the so-called flash crash in May
last year, during which the Dow Jones Industrial Average briefly
lost almost 1,000 points.
Michel Barnier, the EU’s financial services chief, has said
the tougher market-abuse rules are needed because current
sanctions are too weak.
Under the proposals, regulators would get the power to set
maximum fines for financial services companies of at least 10
percent of their annual sales. Individual traders would face
fines of at least 5 million euros ($6.8 million) for the worst
infractions.
Traders found guilty of “intentionally” engaging in
insider dealing and market manipulation should face criminal
sanctions that are, “effective proportionate and dissuasive,”
according to the draft rules.
Under the plans, which would need approval from governments
and members of the European Parliament, unsuccessful attempts to
manipulate markets should also be punished.
The above is a Bloomberg article.
Europe is talking about hefty fines and criminal charges to traders abusing the system through the use of high frequency trading. The criminal aspect of this methodology is clear but have been ignored by the regulators in the US where it originated. The unwillingness of Congress/Senate to pass laws to rein in the destructiveness of high frequency trading is criminal, and understandable given the incestuous relationship between the law makers and the banksters.
Europe is slightly away and could be relied upon, relatively, to take actions against the rogue part of high frequency trading. Regulators who slept with the devil will dance with the devil and protect the devil. Hoping that the Americans will take action earlier is not going to happen and Europe may be the saviour to this menace.
Sept. 13 (Bloomberg) -- The European Union is considering
listing “specific examples of strategies using algorithmic
trading and high-frequency trading” that should be banned and
punished by regulators as market manipulation.
The measures to increase investor protection and reduce
volatility are part of plans to clamp down on market abuse in
the European Union, according to a draft of the proposals
obtained by Bloomberg News.
“There are particular automated strategies that have been
identified by regulators which, if carried out, are likely to
constitute market abuse,” the document says. “Further
identifying abusive strategies will ensure a consistent approach
in monitoring and enforcement by competent authorities.”
High-frequency traders have come under increased
regulatory scrutiny following the so-called flash crash in May
last year, during which the Dow Jones Industrial Average briefly
lost almost 1,000 points.
Michel Barnier, the EU’s financial services chief, has said
the tougher market-abuse rules are needed because current
sanctions are too weak.
Under the proposals, regulators would get the power to set
maximum fines for financial services companies of at least 10
percent of their annual sales. Individual traders would face
fines of at least 5 million euros ($6.8 million) for the worst
infractions.
Traders found guilty of “intentionally” engaging in
insider dealing and market manipulation should face criminal
sanctions that are, “effective proportionate and dissuasive,”
according to the draft rules.
Under the plans, which would need approval from governments
and members of the European Parliament, unsuccessful attempts to
manipulate markets should also be punished.
The above is a Bloomberg article.
Europe is talking about hefty fines and criminal charges to traders abusing the system through the use of high frequency trading. The criminal aspect of this methodology is clear but have been ignored by the regulators in the US where it originated. The unwillingness of Congress/Senate to pass laws to rein in the destructiveness of high frequency trading is criminal, and understandable given the incestuous relationship between the law makers and the banksters.
Europe is slightly away and could be relied upon, relatively, to take actions against the rogue part of high frequency trading. Regulators who slept with the devil will dance with the devil and protect the devil. Hoping that the Americans will take action earlier is not going to happen and Europe may be the saviour to this menace.
When America was rich
When America was rich, or when England and the Europeans were rich, it was like a matter of fact. The world just looked on, maybe a bit envious, but wanted to be rich like them. The world even forgot how the Western empires became rich, literally over their dead bodies, through conquest and looting, but they called it colonisation. This sounded much more pleasant as if colonising other countries to get rich, stripping away their resources and human rights and rights to ownership of their land, were a natural, normal and acceptable thing.
Now China is getting rich, by sheer hardwork, working for lesser pay, stinging and savings, no killings, no looting, no colonising, just plain hardwork.
Now watch this video and observe the expression and sense the mood and the words used to describe China's economic growth. I am wondering if it is amusing or what?
http://www.youtube.com/watch?v=1cNJw9U5bqc
Now China is getting rich, by sheer hardwork, working for lesser pay, stinging and savings, no killings, no looting, no colonising, just plain hardwork.
Now watch this video and observe the expression and sense the mood and the words used to describe China's economic growth. I am wondering if it is amusing or what?
http://www.youtube.com/watch?v=1cNJw9U5bqc
No more space for roads?
When I heard of this news I was kinda, really? We have plentiful of land for housing, in fact we are going to increase the population to another few millions for sure, or our growth will go negative. There are millions waiting to be received by our open arms. Housing is definitely not a problem as we can just build and build, by getting the priorities right, by allotting more land for private properties and bigger profits.
When roads are declared as limited, when car population is limited, when COE prices are going to hit ninth heaven, what are the implications? For those who really need cars out of pure necessities, be it work or physical needs, like the aged, invalids, and the happy broods of children, what’s next? Life is going to be a misery, no joke.
What about the high end new citizens or PRs? They need cars, plenty of cars, as they can afford it, as a hobby. Even the local rich are collecting cars with some having tens or more in their collections.
Car ownership is not just a means of transportation to some. But the crucial purpose of car ownership is transportation. Should there be a rethink and review of car ownership policies in the light of the increasing constraints and high prices?
This is also applicable to ownership of properties. With limitation of land, of course some assholes will say ‘who said so’, land is for the building of homes, a roof over the heads. Land for investment and speculation, is going to drive property prices out of the reach of many. A rethink with respect to land for residential purposes, for the citizens, is urgent. How the govt is going to apportion land for strictly residential purposes or for the speculators to use as chips in their gambling game is tricky, or maybe not, if everything is about getting full value or profits.
Living in paradise is going to be very tough for the aspiring young who wanted a good life, ie good housing and ownership of private transport. It is also going to be a big struggle, and frustrating for the daddies and mummies with 2 or more children, and those with handicapped oldies at home. How are people going to have more babies?
Don’t worry, the marginal people will opt to move out. The very rich who have no problem with money, with $100k COE and multi million dollar shoeboxes will be happily wading to our shores.
The whole social framework and life style will not be the same again.
When roads are declared as limited, when car population is limited, when COE prices are going to hit ninth heaven, what are the implications? For those who really need cars out of pure necessities, be it work or physical needs, like the aged, invalids, and the happy broods of children, what’s next? Life is going to be a misery, no joke.
What about the high end new citizens or PRs? They need cars, plenty of cars, as they can afford it, as a hobby. Even the local rich are collecting cars with some having tens or more in their collections.
Car ownership is not just a means of transportation to some. But the crucial purpose of car ownership is transportation. Should there be a rethink and review of car ownership policies in the light of the increasing constraints and high prices?
This is also applicable to ownership of properties. With limitation of land, of course some assholes will say ‘who said so’, land is for the building of homes, a roof over the heads. Land for investment and speculation, is going to drive property prices out of the reach of many. A rethink with respect to land for residential purposes, for the citizens, is urgent. How the govt is going to apportion land for strictly residential purposes or for the speculators to use as chips in their gambling game is tricky, or maybe not, if everything is about getting full value or profits.
Living in paradise is going to be very tough for the aspiring young who wanted a good life, ie good housing and ownership of private transport. It is also going to be a big struggle, and frustrating for the daddies and mummies with 2 or more children, and those with handicapped oldies at home. How are people going to have more babies?
Don’t worry, the marginal people will opt to move out. The very rich who have no problem with money, with $100k COE and multi million dollar shoeboxes will be happily wading to our shores.
The whole social framework and life style will not be the same again.
10/03/2011
Arab Spring coming
Some were hoping that Arab Spring will come to Asia, especially China. Some hope that it will come to paradise island. Arab Spring is coming and spreading. The first stop is in Greece. Now a bigger one is happening, of all the imaginable places, New York and Boston. Now, where are these two place located on planet earth? The USA of course.
Thousands were marching in New York, to the Stock Exchange and Wall Street. They want to tear down the greedy financial houses like Goldman Sach and the likes. The greedy bankers and their destructive ways are proven as the new cancer of the finance industry and is ruining America and the world. They need to be stopped.
Greed is good to the Wall Street robbers. But Greed is definitely unacceptable to Main Street America, the average Joes are suffering while the robbers in Wall Streets are asking for more and more pay and bonuses. And of course Washington and Congress were the accomplices that are aiding the robbers to continue to loot the average Joes in America.
The Arab Spring is starting in the streets of the USA.
Thousands were marching in New York, to the Stock Exchange and Wall Street. They want to tear down the greedy financial houses like Goldman Sach and the likes. The greedy bankers and their destructive ways are proven as the new cancer of the finance industry and is ruining America and the world. They need to be stopped.
Greed is good to the Wall Street robbers. But Greed is definitely unacceptable to Main Street America, the average Joes are suffering while the robbers in Wall Streets are asking for more and more pay and bonuses. And of course Washington and Congress were the accomplices that are aiding the robbers to continue to loot the average Joes in America.
The Arab Spring is starting in the streets of the USA.
Retiring plans getting topsy turvy
Not only that Singaporeans cannot retire gracefully, I mean the average working class Singaporeans, they now have to start life all over again like a 20 something. They have to start to find a job, to start to save, to worry if they will still be getting the same share of CPF contributions, not because they are going to start another family, but to pay for housing which should have been paid long ago, and the ridiculous medical bills akan datang.
How did we arrive at this pathetic and desperate position when we were one of the biggest savers in the world? We saved 50% of our income, then slowly reduced to slightly below 40% today. This is still an awesome sum of money to save for a life time, but only to realize, not enough leh. Now Ah Kong and Ah Mah must start saving, and to work, to fight with employers for more CPF. This is like the saying, ‘boh geh’ still want to eat peanuts.
This is the ultimate, and par excellence, in retirement planning of a first world nation. Suddenly everything is just a fleeting dream. The govt is now working hard to make employers pay CPF to the oldies as if they were short changing them. Even their income got to be the same as the young twenty something.
Bull. Let’s face it, not everyone is a LKY or an Emeritus Minister that can keep on thinking of getting bigger and bigger pay as they age. Not everyone is a super talent minister that can be appointed as Chairman here and there, and directors everywhere, to collect more and more pay.
The oldies should be retiring and live on their savings, and taking life easier. Go for a different kind of pursuit, at their own time and own pleasure. There are just so many jobs that the oldies can do, at the same pace and quality as the young. No kidding, our body and system age with time.
We thought our great savings and retirement plans were first class. But we did not bargain for some jokers to throw in the spanner half way, to empty our nest egg with ever increasing housing and medical fees. Now the nest egg is nearly empty. And the oldies panic. And everyone panic.
Who in the first place emptied the nest eggs of the oldies? Now all the policies on ageing and retiring is turning topsy turvy, expecting the oldies to do the contrary, to demand for jobs, for more pay, for more CPF, to save some more. And they are expecting the employers to hire all the oldies when the latter could pay for less with so many foreign talents waiting and knocking at their doors. What a joke!
Ok, Ah Kong and Ah Mah, please line up and open a savings account with POSB, and put in $1 every day and see it grows. Then when the time comes for retirement, the money would have grown, and no more worries. Sure, dead people sure got no worries.
How did we arrive at this pathetic and desperate position when we were one of the biggest savers in the world? We saved 50% of our income, then slowly reduced to slightly below 40% today. This is still an awesome sum of money to save for a life time, but only to realize, not enough leh. Now Ah Kong and Ah Mah must start saving, and to work, to fight with employers for more CPF. This is like the saying, ‘boh geh’ still want to eat peanuts.
This is the ultimate, and par excellence, in retirement planning of a first world nation. Suddenly everything is just a fleeting dream. The govt is now working hard to make employers pay CPF to the oldies as if they were short changing them. Even their income got to be the same as the young twenty something.
Bull. Let’s face it, not everyone is a LKY or an Emeritus Minister that can keep on thinking of getting bigger and bigger pay as they age. Not everyone is a super talent minister that can be appointed as Chairman here and there, and directors everywhere, to collect more and more pay.
The oldies should be retiring and live on their savings, and taking life easier. Go for a different kind of pursuit, at their own time and own pleasure. There are just so many jobs that the oldies can do, at the same pace and quality as the young. No kidding, our body and system age with time.
We thought our great savings and retirement plans were first class. But we did not bargain for some jokers to throw in the spanner half way, to empty our nest egg with ever increasing housing and medical fees. Now the nest egg is nearly empty. And the oldies panic. And everyone panic.
Who in the first place emptied the nest eggs of the oldies? Now all the policies on ageing and retiring is turning topsy turvy, expecting the oldies to do the contrary, to demand for jobs, for more pay, for more CPF, to save some more. And they are expecting the employers to hire all the oldies when the latter could pay for less with so many foreign talents waiting and knocking at their doors. What a joke!
Ok, Ah Kong and Ah Mah, please line up and open a savings account with POSB, and put in $1 every day and see it grows. Then when the time comes for retirement, the money would have grown, and no more worries. Sure, dead people sure got no worries.
10/02/2011
The Smartest Man in America
President Thomas Jefferson is often considered to be the smartest President in U.S. history. What is most interesting is that Jefferson warned of the damage that would be caused if the people assigned control of the money supply to the banking sector,
"I believe that banking institutions are more dangerous to our liberties than standing armies… If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."
President Jefferson’s prediction has unfolded exactly as he said it would. Banks and Corporations have done what no enemy could accomplish: they have destroyed the American way of life.
Banks have:
• Crashed our economy with easy credit and lax lending standards
• Left many American’s homeless
• Caused 401Ks to evaporate
• Raided the public treasury of billions of dollars
Corporations have sold out America. Corporations have:
• Outsourced American jobs
• Used tax loopholes to avoid paying their fair share
• Used profit as their only measure of success
The above is part of an article copied from tacticaldefensellc blog by Jim Lubbad. Read it carefully and think Singapore and how it can be similarly affected if things continue the way it is. We are being sold the idea of everything expensive is good, especially housing. The people are all deep in mortgage debt, and smiling at the paper gains of their properties. When deflation hits, looking very imminent, they will all lose their properties and become homeless. The bigger the housing loan, the faster will their properties go. First comes high inflation and follows by high deflation, the perfect formula for taking away the homes they sold to the home owners.
But we are safe, at least for the early buyers of HDB flats when the loans are mostly paid up. The new buyers, beware. The millstone on your neck is heavy.
"I believe that banking institutions are more dangerous to our liberties than standing armies… If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."
President Jefferson’s prediction has unfolded exactly as he said it would. Banks and Corporations have done what no enemy could accomplish: they have destroyed the American way of life.
Banks have:
• Crashed our economy with easy credit and lax lending standards
• Left many American’s homeless
• Caused 401Ks to evaporate
• Raided the public treasury of billions of dollars
Corporations have sold out America. Corporations have:
• Outsourced American jobs
• Used tax loopholes to avoid paying their fair share
• Used profit as their only measure of success
The above is part of an article copied from tacticaldefensellc blog by Jim Lubbad. Read it carefully and think Singapore and how it can be similarly affected if things continue the way it is. We are being sold the idea of everything expensive is good, especially housing. The people are all deep in mortgage debt, and smiling at the paper gains of their properties. When deflation hits, looking very imminent, they will all lose their properties and become homeless. The bigger the housing loan, the faster will their properties go. First comes high inflation and follows by high deflation, the perfect formula for taking away the homes they sold to the home owners.
But we are safe, at least for the early buyers of HDB flats when the loans are mostly paid up. The new buyers, beware. The millstone on your neck is heavy.
The elusive Singaporean Dream
Education is the tool to a better life, a leveller for everyone, regardless of his station in life, to move up the social ladder. It is true. Many from very challenging families have made it to become ministers and millionaires.
But that was history. The students will read in it in their history books of who and who from such a poor family and now so successful. A good education, particularly a university graduate, is like a life made. A graduate is expected to feed a family well, own a decent house, and a decent car. Actually the polytechnic graduates did far better than the university graduates in the industries.
The new story, graduates are driving taxis, graduates cannot find employment, graduates ended up working as temporary employees, or simply jobless graduates. They are also many stories of depressed graduates who are no longer the sought after son or daughter in laws, the prize catch.
A university or polytechnic degree is not the same anymore. Not only that the end result is dissimilar, the cost is also spectacular. To many graduates, or their parents, it is diminishing returns or actually a loss making enterprise. The cost of raising a children and putting him/her through university is so prohibitive and the returns so marginal. Some may question if it is worth the while or is there something wrong with the education formula?
A university or poly graduate is not a passport to a good life, or not guaranteed like in the past. The dream is getting more elusive. So what if you are a graduate? It is not the same anymore. You need to be an exceptional graduate, as 30% of each cohort is now a graduate.
But that was history. The students will read in it in their history books of who and who from such a poor family and now so successful. A good education, particularly a university graduate, is like a life made. A graduate is expected to feed a family well, own a decent house, and a decent car. Actually the polytechnic graduates did far better than the university graduates in the industries.
The new story, graduates are driving taxis, graduates cannot find employment, graduates ended up working as temporary employees, or simply jobless graduates. They are also many stories of depressed graduates who are no longer the sought after son or daughter in laws, the prize catch.
A university or polytechnic degree is not the same anymore. Not only that the end result is dissimilar, the cost is also spectacular. To many graduates, or their parents, it is diminishing returns or actually a loss making enterprise. The cost of raising a children and putting him/her through university is so prohibitive and the returns so marginal. Some may question if it is worth the while or is there something wrong with the education formula?
A university or poly graduate is not a passport to a good life, or not guaranteed like in the past. The dream is getting more elusive. So what if you are a graduate? It is not the same anymore. You need to be an exceptional graduate, as 30% of each cohort is now a graduate.
10/01/2011
Give me your money or else…
While many debt ridden countries are queuing up in Beijing for the dough, some corners of America are screaming that the Chinese economy is going to bust like the Japanese and the Americans. Would an economy that is going to collapse have the money to offer to the beggars in the queue?
For decades, the western countries, including Europe and the US, have been living in great and bountiful times. They were dining and wining in the best restaurants with the best steaks they could buy, on borrowed money and borrowed time. On the other side of the globe, the Chinese farmers and factory workers were working their guts out just to put food on the table and a roof over their heads. Anything extra, any leftovers, will be put into the kitty.
The Chinese were not rich, but they did not over spend. They saved every cent possible for the rainy day. The West was a different story. There was no rainy day. The rain will never come, only good times. They forgot that their good times are borrowed times on borrowed money. There will be no more colonies to feed their extravagant life styles.
The day of reckoning is here. Those who were prudent, thrifty and spent within their means would have lesser to worry than those who flaunted their wealth and consumed more than they could afford to. And while their sprawling straw houses are burning, they are wishing that the little mud houses will go down as well.
Of course some knew their houses are burning. They are being burnt and needed help. Some still don’t think so and wishing and willing others will be burnt down so that they can clap and say, I told you so.
Some will put the blame on the Chinese peasants for saving too much and spending too little. The financial crisis is the fault of the Chinese. And when the Americans went to the Chinese with hands stretching, the Chinese obliged to help stabilise the world financial crisis and saved the day for the Americans. The Europeans are following the Americans to Beijing, with hands outstretched. Some corners were slyly suggesting that the Chinese were doing it not for altruistic reasons. Some, like the great thinkers and journalists here will be asking the Chinese of their intent, as if the Chinese were harbouring some unspeakable sinister motive for giving out their money.
No, they would not question the altruism of the Western empires, of the Americans, when they handed out aids to the developing countries. No strings attached. And when they invaded countries and did regime changes, they were done with good motives, all altruistic.
The Chinese, uncouth, loud and rude, and a big bully, should better understand that whatever they do, the Western world will never see them in any good light. Not even from the elite here who are supposedly to know them better because of proximity and some similarity in culture and roots.
The bottom line is that the Singaporean Chinese would even despise the Chinese and would not trust anything they do. So it is only natural that the West will never trust or like the uncouth and uncivilised Chinese. My recommendation is that if they do, they will be damned, if they don’t, they too will be damned. It is best to keep their money at home to help themselves. Let the uncouth peasants eat better and live better. No need to pretend to be nice, to hand out their money to the countries in financial trouble.
With the rich Europeans in their luxurious limousines at the doorsteps of the poor farmers and factory workers asking for a little donation, from their kitties hidden under their wooden beds, should the Chinese shoo them away?
For decades, the western countries, including Europe and the US, have been living in great and bountiful times. They were dining and wining in the best restaurants with the best steaks they could buy, on borrowed money and borrowed time. On the other side of the globe, the Chinese farmers and factory workers were working their guts out just to put food on the table and a roof over their heads. Anything extra, any leftovers, will be put into the kitty.
The Chinese were not rich, but they did not over spend. They saved every cent possible for the rainy day. The West was a different story. There was no rainy day. The rain will never come, only good times. They forgot that their good times are borrowed times on borrowed money. There will be no more colonies to feed their extravagant life styles.
The day of reckoning is here. Those who were prudent, thrifty and spent within their means would have lesser to worry than those who flaunted their wealth and consumed more than they could afford to. And while their sprawling straw houses are burning, they are wishing that the little mud houses will go down as well.
Of course some knew their houses are burning. They are being burnt and needed help. Some still don’t think so and wishing and willing others will be burnt down so that they can clap and say, I told you so.
Some will put the blame on the Chinese peasants for saving too much and spending too little. The financial crisis is the fault of the Chinese. And when the Americans went to the Chinese with hands stretching, the Chinese obliged to help stabilise the world financial crisis and saved the day for the Americans. The Europeans are following the Americans to Beijing, with hands outstretched. Some corners were slyly suggesting that the Chinese were doing it not for altruistic reasons. Some, like the great thinkers and journalists here will be asking the Chinese of their intent, as if the Chinese were harbouring some unspeakable sinister motive for giving out their money.
No, they would not question the altruism of the Western empires, of the Americans, when they handed out aids to the developing countries. No strings attached. And when they invaded countries and did regime changes, they were done with good motives, all altruistic.
The Chinese, uncouth, loud and rude, and a big bully, should better understand that whatever they do, the Western world will never see them in any good light. Not even from the elite here who are supposedly to know them better because of proximity and some similarity in culture and roots.
The bottom line is that the Singaporean Chinese would even despise the Chinese and would not trust anything they do. So it is only natural that the West will never trust or like the uncouth and uncivilised Chinese. My recommendation is that if they do, they will be damned, if they don’t, they too will be damned. It is best to keep their money at home to help themselves. Let the uncouth peasants eat better and live better. No need to pretend to be nice, to hand out their money to the countries in financial trouble.
With the rich Europeans in their luxurious limousines at the doorsteps of the poor farmers and factory workers asking for a little donation, from their kitties hidden under their wooden beds, should the Chinese shoo them away?
9/30/2011
Must Chinese Sporeans support China’s rise?
This is the heading of an article by William Choong, a senior writer of ST and published in today’s ST. The gist of his article is that he got screwed by other Chinese for questioning the rise of China and China’s assertiveness as an emerging power. Some even questioned his roots, whether he is a Chinese or perhaps an ang moh or something else.
He claimed that as a journalist, and a Singaporean, it would be foolish to let his race shaped his assessment of global trends. He even quoted LKY’s defence of American presence in the region to balance the rise of China’s military power.
I agree that one should not allow one’s racial origin to colour one’s objectivity. And one should be thinking of one’s national interest and take a position on that ground. But it is altogether a silly thing to take a position without knowing why, without knowing that one is not being objective but trying to impress others as being objective.
The very title of his article is biased and not objective. It is not a matter of supporting China’s rise but a matter of supporting right against wrong, against injustice and inequality. Is China’s rise leading to China bullying the weaker nations, committing aggression and invasion against weak nations, or is China’s rise just a natural and neutral phenomenon of the growing economic and military prowess of a nation? What is wrong if a nation, any nation, becomes strong and powerful? Even with China’s new stature, little silly Asean nations have been arresting Chinese fishermen and threatening to go to war with China. What would it be if China is still a weakling nation? Would that be better?
Likewise, the silly statement that we need the US to balance the rise of China is as good as wisdom from a joker. Why is it that no one ever asked for a stronger country to balance the military might of the US all these years? Why isn’t China’s rise seen as a balance against the US presence and world domination? I am sure the Arab and Muslim world would beg for a stronger country, be it China or anyone else, to stop the oppressive and hegemonic American presence in the Middle East.
Or is it because the American world domination for too long has got stuck in his head, that this is the only normal? Any new power challenging this normal is unacceptable?
I half agree with LKY’s statement that it is Singapore’s national interest that there should be a balance of power in the Pacific. Now what kind of balance of power is he talking about? A mighty America unchallenged and can do what it wants against any nation, conducting espionage and military war games at other nation’s front yard, conducting aerial spying missions against weaker nations at will? Conducting regime change? Or a more balance of power between the Americans and the Chinese when both side would not dare to push the other around at will, like I can slam you and you cannot slam me back?
It is not an issue of supporting or not supporting China’s rise just because one is a Chinese. It is silly to just question and try to discredit China like the West because the West is doing it and saying the same thing. What the West is saying and doing is for their own interests.
Whatever, a Chinese is a bloody Chinese by any name, a Singaporean or an American Chinese, or if you call yourself Ah Choong or William. When China was a beggar of nations, any Chinese will be known as a useless Chink wherever he went, and be spitted upon, even physically abused, not only by the Westerners, but also by the colonized Asians. Pai Hua was common in Southeast Asia. Today, it is not so easy anymore, because there is a strong China. It would be nice if William Choong could be able to ask his grandpa or great grandpa what it was like to be a Chinese when China was the sick man of Asia.
Today, any bloody Chinese of whatever nationality takes it as a natural right that he is somehow seen as nearly equal, and treated slightly better by the Westerners, for granted. Just imagine how he will be treated if China is still the sick man of Asia? Will the Westerners take a bloody Singaporean Chinese with a name like William Choong seriously? Or will they be laughing their guts out at the thought of him and his great articles in questioning China’s intention as a new military power behind his inscrutable face?
Mind you, for many decades, the Chinese all looked alike to the Westerners, no personality, no character, no talent, poor, good only to be cooks and laundry men and inscrutable, with little slit eyes. Yes, they all looked alike, can't distinguish one from another. Sounds familiar?
The rise of China and its progress in all fields have made the Westerners to look at Chinese as a people, from a new angle. William Choong should thank the bloody Commie Chinese for the added respect and standing he is getting from the Westerners and the former colonized people of the world. The Indonesians and Malaysians would not be so ready to pai hua. The Aussies would not bang into him in the streets that often.
There is no need to support the rise of China just because you are Chinese. But you get some additional intangible benefits from it indirectly. Maybe I am wrong. The Westerners will respect me more and see me up if China is still a weak pariah state with its people living in poverty, without ideas and talents. Or maybe I should question China like the West and they will respect me more for seeing the world in their coloured lens, like a Westerner?
He claimed that as a journalist, and a Singaporean, it would be foolish to let his race shaped his assessment of global trends. He even quoted LKY’s defence of American presence in the region to balance the rise of China’s military power.
I agree that one should not allow one’s racial origin to colour one’s objectivity. And one should be thinking of one’s national interest and take a position on that ground. But it is altogether a silly thing to take a position without knowing why, without knowing that one is not being objective but trying to impress others as being objective.
The very title of his article is biased and not objective. It is not a matter of supporting China’s rise but a matter of supporting right against wrong, against injustice and inequality. Is China’s rise leading to China bullying the weaker nations, committing aggression and invasion against weak nations, or is China’s rise just a natural and neutral phenomenon of the growing economic and military prowess of a nation? What is wrong if a nation, any nation, becomes strong and powerful? Even with China’s new stature, little silly Asean nations have been arresting Chinese fishermen and threatening to go to war with China. What would it be if China is still a weakling nation? Would that be better?
Likewise, the silly statement that we need the US to balance the rise of China is as good as wisdom from a joker. Why is it that no one ever asked for a stronger country to balance the military might of the US all these years? Why isn’t China’s rise seen as a balance against the US presence and world domination? I am sure the Arab and Muslim world would beg for a stronger country, be it China or anyone else, to stop the oppressive and hegemonic American presence in the Middle East.
Or is it because the American world domination for too long has got stuck in his head, that this is the only normal? Any new power challenging this normal is unacceptable?
I half agree with LKY’s statement that it is Singapore’s national interest that there should be a balance of power in the Pacific. Now what kind of balance of power is he talking about? A mighty America unchallenged and can do what it wants against any nation, conducting espionage and military war games at other nation’s front yard, conducting aerial spying missions against weaker nations at will? Conducting regime change? Or a more balance of power between the Americans and the Chinese when both side would not dare to push the other around at will, like I can slam you and you cannot slam me back?
It is not an issue of supporting or not supporting China’s rise just because one is a Chinese. It is silly to just question and try to discredit China like the West because the West is doing it and saying the same thing. What the West is saying and doing is for their own interests.
Whatever, a Chinese is a bloody Chinese by any name, a Singaporean or an American Chinese, or if you call yourself Ah Choong or William. When China was a beggar of nations, any Chinese will be known as a useless Chink wherever he went, and be spitted upon, even physically abused, not only by the Westerners, but also by the colonized Asians. Pai Hua was common in Southeast Asia. Today, it is not so easy anymore, because there is a strong China. It would be nice if William Choong could be able to ask his grandpa or great grandpa what it was like to be a Chinese when China was the sick man of Asia.
Today, any bloody Chinese of whatever nationality takes it as a natural right that he is somehow seen as nearly equal, and treated slightly better by the Westerners, for granted. Just imagine how he will be treated if China is still the sick man of Asia? Will the Westerners take a bloody Singaporean Chinese with a name like William Choong seriously? Or will they be laughing their guts out at the thought of him and his great articles in questioning China’s intention as a new military power behind his inscrutable face?
Mind you, for many decades, the Chinese all looked alike to the Westerners, no personality, no character, no talent, poor, good only to be cooks and laundry men and inscrutable, with little slit eyes. Yes, they all looked alike, can't distinguish one from another. Sounds familiar?
The rise of China and its progress in all fields have made the Westerners to look at Chinese as a people, from a new angle. William Choong should thank the bloody Commie Chinese for the added respect and standing he is getting from the Westerners and the former colonized people of the world. The Indonesians and Malaysians would not be so ready to pai hua. The Aussies would not bang into him in the streets that often.
There is no need to support the rise of China just because you are Chinese. But you get some additional intangible benefits from it indirectly. Maybe I am wrong. The Westerners will respect me more and see me up if China is still a weak pariah state with its people living in poverty, without ideas and talents. Or maybe I should question China like the West and they will respect me more for seeing the world in their coloured lens, like a Westerner?
Forgetting the asshole
Today I try, or pretend, to be an elite and think or reason like an elite. This is an important exercise as the elite are the thinkers, agenda setters and decision makers, and will decide the type of life we will lead. And presumably the elite are smart asses and will not think silly or act silly, or short change the people.
A plate of chicken rice is now $10 in some places. And if the price is not controlled or brought down, it will keep spiraling as every seller will think that this is the new normal. All they need to do is to shout that the price is affordable and soon the people will believe so. So the asshole who started the $10 chicken rice is going to reap all the profits he desired and get away with it. Is there a problem with rising prices of chicken rice?
An elite may suggest, since the price is $10 or 3 times the normal price, it will be cheaper and reasonable to divide it up and eat it in three meals. That will make the chicken rice cheaper won’t it?
Another may suggest, reduce the quantity into half and sell it at $5. Or for small eaters, reduce the quantity to a third and sell it at $3. See, the price of chicken rice is now affordable, like before.
There could be more brilliant and cleverer suggestions from the elite thinkers. And they will keep on doing it, cracking their brilliant minds to solve the high chicken price problem.
And none will want to ask, or to know, how the chicken price got to become $10 in the first place, and whether it is justifiable. They have totally forgotten about the asshole that started it. They have accepted the new normal, that a plate of chicken rice should be $10.
Where is Khaw Boon Wan? Has he resolved the high HDB price problem?
A plate of chicken rice is now $10 in some places. And if the price is not controlled or brought down, it will keep spiraling as every seller will think that this is the new normal. All they need to do is to shout that the price is affordable and soon the people will believe so. So the asshole who started the $10 chicken rice is going to reap all the profits he desired and get away with it. Is there a problem with rising prices of chicken rice?
An elite may suggest, since the price is $10 or 3 times the normal price, it will be cheaper and reasonable to divide it up and eat it in three meals. That will make the chicken rice cheaper won’t it?
Another may suggest, reduce the quantity into half and sell it at $5. Or for small eaters, reduce the quantity to a third and sell it at $3. See, the price of chicken rice is now affordable, like before.
There could be more brilliant and cleverer suggestions from the elite thinkers. And they will keep on doing it, cracking their brilliant minds to solve the high chicken price problem.
And none will want to ask, or to know, how the chicken price got to become $10 in the first place, and whether it is justifiable. They have totally forgotten about the asshole that started it. They have accepted the new normal, that a plate of chicken rice should be $10.
Where is Khaw Boon Wan? Has he resolved the high HDB price problem?
Designing a bank run!
The most feared situation in any financial system is a run on the banks. Banks are exceptionally sensitive and careful in taking in big deposits for fear of such an incident. Big money is good, everyone wants to have a bite of the cherry. But knowing banks, and the danger of big money, they will take all precautions to spread the risk. They will not put themselves in such a precarious situation to facilitate a run on the bank. No banks, however big or rock solid, can withstand a run, as they generally lend out more than they have. There is always not enough cash to feed a run.
The govt and banking authority will not allow such a situation to develop. Allowing it is criminal negligence, as it will lead to the collapse of a country’s financial system and the country itself.
The beauty of it all is that while the govt and banking authority are guarding the front door with triple layers of barb wires, they have left the back door wide open without knowing it, and thinking that all is safe.
Greed is good, but greed is also dangerous. The world is flooded with liquidity. And liquidity can flow anywhere anytime with the high speed and high tech communication and information system. Big funds, private and sovereign funds, are caretakers of big money which they can wield and move around with the flick of a few fingers.
When the funds flow in concert, it is worst than a tsunami. When the cash flows in, everyone opens his arms widely to welcome them. The danger of the cash going out at double quick time can wipe out everything along the way.
Big funds, high speed machines, deregulations, allow money to move in and out of a stock market at will. Many stock markets have experienced the destructiveness of funds moving in and out, sometimes for a few hours or a few days. The full impact of the funds clearing their holdings in concert and getting out of a stock market is as good as a run on the banks. All they need to do is a big sell down.
Not possible? The way the stockmarkets are gearing themselves for the big funds to play havoc to their stocks is extremely idiotic. They have done everything possible to allow it to happen. No need to ask me how. It is only waiting to happen. Even the temporary trading halt on limit down can only be for a moment. When the dam is broken, the trading halt cannot save the destruction. It will be too little too late.
There is no need to run on the banks. Just run on the stockmarket is equally destructive and damaging. The big funds with their big cash hoards and high speed machine are ready to do what they are capable of. It is only a matter of when. Are there enough safeguards to prevent it from happening, or allowing it to happen up to a certain level, that is just as serious in consequences?
Below is a REUTER article dated 29 Aug 2011
Beat high-frequency trading machines by not playing their game
The days of you trying to make a buck actively trading in the stock market are over.
Individuals don’t stand a chance anymore because they are largely competing against rational machines often guided by herd-like irrational forces. The robots can rule in the blink of an eye….
I knew it was over for human traders when I heard that high-frequency trading firms were hooking up their data lines directly to exchange computers to gain an extra hundredth of a second in execution time.
High-speed programs are designed to move millions of shares in a fraction of a second to take advantage of small movements in securities prices….
There’s no way to beat the machines, unless of course, you have a faster machine, better programs or the ability to predict the future. Your odds are better in Vegas, which never had great odds for a palooka pulling a one-armed bandit….
Some 60 percent of the volume of the New York Stock Exchange is attributed to high-speed trading, maybe more.
Although many market observers blamed machine traders for a flash crash last year, regulators have done little to slow down these speed demons....
That’s why will see even more flash crashes and huge price swings called “mini-flash crashes.”…
Don’t even try to time the purchase of your stocks, because Washington will do nothing to protect you against huge market swings.
Wall Street is spreading plenty of money around in lobbying efforts to make sure that their trading desks don’t get regulated in any meaningful way. Sated with financial services industry contributions, House Republicans have already spent most of the year trying to kill Dodd-Frank financial reforms, so high-speed trading isn’t even near the top of their agenda.
So my advice couldn’t be more succinct. The best way to beat the machines is pretty simple: Don’t even play them. Game over.
The govt and banking authority will not allow such a situation to develop. Allowing it is criminal negligence, as it will lead to the collapse of a country’s financial system and the country itself.
The beauty of it all is that while the govt and banking authority are guarding the front door with triple layers of barb wires, they have left the back door wide open without knowing it, and thinking that all is safe.
Greed is good, but greed is also dangerous. The world is flooded with liquidity. And liquidity can flow anywhere anytime with the high speed and high tech communication and information system. Big funds, private and sovereign funds, are caretakers of big money which they can wield and move around with the flick of a few fingers.
When the funds flow in concert, it is worst than a tsunami. When the cash flows in, everyone opens his arms widely to welcome them. The danger of the cash going out at double quick time can wipe out everything along the way.
Big funds, high speed machines, deregulations, allow money to move in and out of a stock market at will. Many stock markets have experienced the destructiveness of funds moving in and out, sometimes for a few hours or a few days. The full impact of the funds clearing their holdings in concert and getting out of a stock market is as good as a run on the banks. All they need to do is a big sell down.
Not possible? The way the stockmarkets are gearing themselves for the big funds to play havoc to their stocks is extremely idiotic. They have done everything possible to allow it to happen. No need to ask me how. It is only waiting to happen. Even the temporary trading halt on limit down can only be for a moment. When the dam is broken, the trading halt cannot save the destruction. It will be too little too late.
There is no need to run on the banks. Just run on the stockmarket is equally destructive and damaging. The big funds with their big cash hoards and high speed machine are ready to do what they are capable of. It is only a matter of when. Are there enough safeguards to prevent it from happening, or allowing it to happen up to a certain level, that is just as serious in consequences?
Below is a REUTER article dated 29 Aug 2011
Beat high-frequency trading machines by not playing their game
The days of you trying to make a buck actively trading in the stock market are over.
Individuals don’t stand a chance anymore because they are largely competing against rational machines often guided by herd-like irrational forces. The robots can rule in the blink of an eye….
I knew it was over for human traders when I heard that high-frequency trading firms were hooking up their data lines directly to exchange computers to gain an extra hundredth of a second in execution time.
High-speed programs are designed to move millions of shares in a fraction of a second to take advantage of small movements in securities prices….
There’s no way to beat the machines, unless of course, you have a faster machine, better programs or the ability to predict the future. Your odds are better in Vegas, which never had great odds for a palooka pulling a one-armed bandit….
Some 60 percent of the volume of the New York Stock Exchange is attributed to high-speed trading, maybe more.
Although many market observers blamed machine traders for a flash crash last year, regulators have done little to slow down these speed demons....
That’s why will see even more flash crashes and huge price swings called “mini-flash crashes.”…
Don’t even try to time the purchase of your stocks, because Washington will do nothing to protect you against huge market swings.
Wall Street is spreading plenty of money around in lobbying efforts to make sure that their trading desks don’t get regulated in any meaningful way. Sated with financial services industry contributions, House Republicans have already spent most of the year trying to kill Dodd-Frank financial reforms, so high-speed trading isn’t even near the top of their agenda.
So my advice couldn’t be more succinct. The best way to beat the machines is pretty simple: Don’t even play them. Game over.
9/29/2011
$500,000 a week’s pay!
Being paid $400k or $500k a week just to play football is common in the British football league or the European league. That is a cool $2m a month or $24m a year, excluding bonuses. Where else can one find such a well paying job and so dignified, with fans screaming everywhere just to see them?
Carlos Tevez is one of the fortunate super football talents to be paid this kind of salary in Manchester City. This is the sister club to Manchester United that will probably reappear anytime for a listing in our stock exchange. And Manchester United, being a better club, with betterer talents, is likely to pay their star players much more, or not worst than Carlos Tevez’s $500k a week pay.
When Manchester United finally got to be listed here, Singaporeans will have the privilege to be associated with this great football club, and also the privilege to be their paymaster, paying each of the star footballer millions every month. Singaporeans should be happy to do that, as paying huge obscene salary is a normal practice here. They are used to it. It will cost them an additional plate of char kway teow at most.
The most important thing is that they are happy paying. It is value for money, every cent of it. Now, why are the parents craving for their children to be in the best school and to get a degree when they could have fun kicking a ball and not being stressed up in our hot house schools, and getting paid several times more than our President?
Carlos Tevez is one of the fortunate super football talents to be paid this kind of salary in Manchester City. This is the sister club to Manchester United that will probably reappear anytime for a listing in our stock exchange. And Manchester United, being a better club, with betterer talents, is likely to pay their star players much more, or not worst than Carlos Tevez’s $500k a week pay.
When Manchester United finally got to be listed here, Singaporeans will have the privilege to be associated with this great football club, and also the privilege to be their paymaster, paying each of the star footballer millions every month. Singaporeans should be happy to do that, as paying huge obscene salary is a normal practice here. They are used to it. It will cost them an additional plate of char kway teow at most.
The most important thing is that they are happy paying. It is value for money, every cent of it. Now, why are the parents craving for their children to be in the best school and to get a degree when they could have fun kicking a ball and not being stressed up in our hot house schools, and getting paid several times more than our President?
The more scary and horrifying part of Halloween Horror
I am in the mood to tell a story that happened many eons ago. Singapore was a young and dynamic state, with an equally young and robust PM. It was an era when mistakes were not tolerated, not even a misplaced comma or a full stop. It could ruin the career of a civil servant for not minding his comma or full stop. Yeah, can be quite unforgiving. But that was the standard of the day.
The PM went golfing on a Sunday morning in Tanah Merah. He drove his tee shot into the centre of the fairway. The sound of a plane roared as it approached for landing. The PM looked up, trying to take a look at the spectacular sight of a Boeing 707 with wheels hanging down. Oops, no luck, view blocked by the casuarina trees. ‘The trees are a bit too high. Otherwise the view would be excellent.’ Said the PM as he went on for his second shot.
The next Sunday he was at the same hole and drove the same ball into the fairway. There was a gust of wind and the ball swerved into OB. A bit annoyed, he looked up. ‘Where are the trees?’ Apparently someone took his comment very seriously, and the trees were cut to waist height, contributing to a more gusty course.
It was an old story and no one will ascertain if it is a true story. The morale of the story is that people at high places should be careful with their words. People react irrationally, taken every word, comma and full stop very seriously too. Some may even over react, for good or bad reasons, for their rice bowl, fear, or to angkat, to please the lord.
And many people suffered as a result. Resources, time, energy and even money were spent that needed not be. How many workers were involved in cutting down the trees? How much was paid to the contractor. The saddest part, the trees suffered a tragic fate all because of an innocent statement. But who cares for the trees anyway?
In the Halloween Horror case, the victims are the poor students, full of enthusiasm, doing their best to score an A for their projects. It would go into their CVs as a shining star when the time comes for sending out job application letters. It probably came to nought. How many people were involved and supported the project and the students, guiding and encouraging them in this endeavour? The lecturers, the principal, the staff of WRS, their friends and relatives, the customers who were willing to pay for the show, never see anything wrong with the event. They were all rebuffed.
How many people’s negative comments were needed to cancel such a project?
What can be worst, not happening yet, and I hope not, will be an asshole to fail the students. The reasoning, the students should know that WRS is a family oriented organization, for wholesome family activities. Choosing something like Halloween Horror and holding it as a WRS event is simply poor understanding, planning and foresight. The students failed to think through the project carefully and thus ended with an abandoned project.
I am just speculating. But knowing the ethos of the day, scoring points, trying to read the minds of those that matters, and taking a stand to please the ‘boss’, angkat angkat a bit, and you can have hell for the students. And don’t expect the devil to protect the students as god is more powderful.
Has the Halloween Horror story seen its final chapter?
The PM went golfing on a Sunday morning in Tanah Merah. He drove his tee shot into the centre of the fairway. The sound of a plane roared as it approached for landing. The PM looked up, trying to take a look at the spectacular sight of a Boeing 707 with wheels hanging down. Oops, no luck, view blocked by the casuarina trees. ‘The trees are a bit too high. Otherwise the view would be excellent.’ Said the PM as he went on for his second shot.
The next Sunday he was at the same hole and drove the same ball into the fairway. There was a gust of wind and the ball swerved into OB. A bit annoyed, he looked up. ‘Where are the trees?’ Apparently someone took his comment very seriously, and the trees were cut to waist height, contributing to a more gusty course.
It was an old story and no one will ascertain if it is a true story. The morale of the story is that people at high places should be careful with their words. People react irrationally, taken every word, comma and full stop very seriously too. Some may even over react, for good or bad reasons, for their rice bowl, fear, or to angkat, to please the lord.
And many people suffered as a result. Resources, time, energy and even money were spent that needed not be. How many workers were involved in cutting down the trees? How much was paid to the contractor. The saddest part, the trees suffered a tragic fate all because of an innocent statement. But who cares for the trees anyway?
In the Halloween Horror case, the victims are the poor students, full of enthusiasm, doing their best to score an A for their projects. It would go into their CVs as a shining star when the time comes for sending out job application letters. It probably came to nought. How many people were involved and supported the project and the students, guiding and encouraging them in this endeavour? The lecturers, the principal, the staff of WRS, their friends and relatives, the customers who were willing to pay for the show, never see anything wrong with the event. They were all rebuffed.
How many people’s negative comments were needed to cancel such a project?
What can be worst, not happening yet, and I hope not, will be an asshole to fail the students. The reasoning, the students should know that WRS is a family oriented organization, for wholesome family activities. Choosing something like Halloween Horror and holding it as a WRS event is simply poor understanding, planning and foresight. The students failed to think through the project carefully and thus ended with an abandoned project.
I am just speculating. But knowing the ethos of the day, scoring points, trying to read the minds of those that matters, and taking a stand to please the ‘boss’, angkat angkat a bit, and you can have hell for the students. And don’t expect the devil to protect the students as god is more powderful.
Has the Halloween Horror story seen its final chapter?
More land needed for private developers
Those who think that the private developers are worried that their properties will not be sold or property prices will fall will be disappointed. Boon Wan would have to release more land for the private property developers to build more private properties for sale. While the locals are complaining about outrageous property prices, the millionaires in China, India, Indonesia and overseas are finding the properties here a bargain.
And it was reported China alone has at least one million millionaires and all wanting to invest in properties. The property developers are laying down the red carpet to invite these new rich to buy properties here. And the take up rate is very high. All the big developers like Far East and Capitaland are in China luring the investors with perks, free air tickets and seafood dinners, all to buy properties here.
If the one million Chinese millionaires were to buy one unit each, that will be one million units short. To be more realistic, if ten per cent of the millionaires were to buy, that is already a cool 100k units. Nothing left and not enough to go round. Then the Indians, Indonesians and Westerners, we need to reclaim more land and islands to build properties.
Alternatively Singaporeans can start to sell out their million dollar properties and move off to JB, Batam and Bintang. One thing for sure, property prices will keep going up. Singapore is going to experience another bigger property boom, and there will be prosperity all round. The more properties one owns, the richer one will become.
Happy days are back again! The long queues in new launches will be back. Banks will be able to offer more attractive mortgages packages. The craze will be on and property speculators will be laughing all the way to the banks.
And it was reported China alone has at least one million millionaires and all wanting to invest in properties. The property developers are laying down the red carpet to invite these new rich to buy properties here. And the take up rate is very high. All the big developers like Far East and Capitaland are in China luring the investors with perks, free air tickets and seafood dinners, all to buy properties here.
If the one million Chinese millionaires were to buy one unit each, that will be one million units short. To be more realistic, if ten per cent of the millionaires were to buy, that is already a cool 100k units. Nothing left and not enough to go round. Then the Indians, Indonesians and Westerners, we need to reclaim more land and islands to build properties.
Alternatively Singaporeans can start to sell out their million dollar properties and move off to JB, Batam and Bintang. One thing for sure, property prices will keep going up. Singapore is going to experience another bigger property boom, and there will be prosperity all round. The more properties one owns, the richer one will become.
Happy days are back again! The long queues in new launches will be back. Banks will be able to offer more attractive mortgages packages. The craze will be on and property speculators will be laughing all the way to the banks.
9/28/2011
False CVs on the rise in Asia
By Dolly Chia
MORE job applicants are lying about their employment history, with those in the IT as well as banking and financial services among the biggest culprits.
According to First Advantage, a provider of employment screening solutions, the proportion of employees misrepresenting their qualifications on their resume in Asia-Pacific rose to 4.4 per cent this year from 3.2 per cent last year....Reported in a local media.
What do the 4.4 percentage points mean? It means that if we have 100,000 Employment Pass holders, 4,400 of them have false CVs. If the number is 300,000, probably the size of our EP, just my guesstimate, the number of false CVs working and living with us is a staggering 13,200. And it could be much more as many are still undetected.
What is unacceptable, not that they are laughing at our stupidity, is that these jobs could have gone to our pressure cooking products of our world best education system. Unfortunately they have been replaced by fakes.
The problem is serious and the govt needs to set up a body to investigate the CVs of all foreign talents coming in. We don’t want to have CEOs who attended a 2 week course in Harvard to claim to be a Harvard alumni. We don’t want a fake to be ordering our local talents around and being paid more for doing it. We don’t want a fake to be managing our local talents and depriving them of that job. We don’t want fakes to take our naivity and innocence for granted.
First world talents duped by third world non talents! Can you beat it?
MORE job applicants are lying about their employment history, with those in the IT as well as banking and financial services among the biggest culprits.
According to First Advantage, a provider of employment screening solutions, the proportion of employees misrepresenting their qualifications on their resume in Asia-Pacific rose to 4.4 per cent this year from 3.2 per cent last year....Reported in a local media.
What do the 4.4 percentage points mean? It means that if we have 100,000 Employment Pass holders, 4,400 of them have false CVs. If the number is 300,000, probably the size of our EP, just my guesstimate, the number of false CVs working and living with us is a staggering 13,200. And it could be much more as many are still undetected.
What is unacceptable, not that they are laughing at our stupidity, is that these jobs could have gone to our pressure cooking products of our world best education system. Unfortunately they have been replaced by fakes.
The problem is serious and the govt needs to set up a body to investigate the CVs of all foreign talents coming in. We don’t want to have CEOs who attended a 2 week course in Harvard to claim to be a Harvard alumni. We don’t want a fake to be ordering our local talents around and being paid more for doing it. We don’t want a fake to be managing our local talents and depriving them of that job. We don’t want fakes to take our naivity and innocence for granted.
First world talents duped by third world non talents! Can you beat it?
Two party system, who decides?
After the last GE, the prospect for a two party or multi party political system appears to be brighter. The invincibility of the ruling party had taken a sharp knock and is not like what it was before. It is looking very fragile and breakable. What it means is that more alternative parties could gain a foot hold in the future Parliament. The electorate are getting very uncomfortable with the political system and are showing signs of adventurism, that alternative parties could be the solution to the shit hole that many are stuck in and claimed to be the best there is.
What is telling is that the electorate should never ever flirt with the temptation of alternative parties. The ruling party will decide if the political system will evolve into a two party or multi party system. The message is distinctly clear that the outcome of what the political system will evolve is not for the people to decide.
So, how would the ruling party decide if there should be a multi party system? Simple, the new WP members in Parliament will be watched very carefully. How they perform will decide the fate of the future political system. Simply, they need to play ball with the ruling party, to win its confidence, that they are not out to destroy the party or the country.
Does it make sense? I think the message is that they must not ask funny questions that make the ruling party and the leaders look funny. Better still, try to make them look good, make them feel comfortable, then maybe more alternative party MPs will be able to get into Parliament. And they may even be invited to be grassroots advisors. If the WP’s MPs did not play ball and are contemptuous, and persist in asking embarrassing questions, then the fate of a multi party system will be sealed, be gone forever.
If this is the case, that the future of a multi party system is decided by the ruling party and not the electorate, then my advice to the WP MPs is to play ball, be nice. Then maybe in 2016, more alternative MPs will be allowed into Parliament.
What is telling is that the electorate should never ever flirt with the temptation of alternative parties. The ruling party will decide if the political system will evolve into a two party or multi party system. The message is distinctly clear that the outcome of what the political system will evolve is not for the people to decide.
So, how would the ruling party decide if there should be a multi party system? Simple, the new WP members in Parliament will be watched very carefully. How they perform will decide the fate of the future political system. Simply, they need to play ball with the ruling party, to win its confidence, that they are not out to destroy the party or the country.
Does it make sense? I think the message is that they must not ask funny questions that make the ruling party and the leaders look funny. Better still, try to make them look good, make them feel comfortable, then maybe more alternative party MPs will be able to get into Parliament. And they may even be invited to be grassroots advisors. If the WP’s MPs did not play ball and are contemptuous, and persist in asking embarrassing questions, then the fate of a multi party system will be sealed, be gone forever.
If this is the case, that the future of a multi party system is decided by the ruling party and not the electorate, then my advice to the WP MPs is to play ball, be nice. Then maybe in 2016, more alternative MPs will be allowed into Parliament.
9/27/2011
Poll on the Elected Presidency
The rice is cooked, we have a new Elected President in the Istana. And he is still getting his millions as salary. All the controversies raised during the election for the new EP were somehow forgotten, as usual. The heat is gone. This is very typical of Singaporeans when the pain is not enough. They only kpkb for the moment and then resigned to the fait accompli.
We just conducted a poll and 40% of the respondents wanted the EP to be abolished. Another 40% didn’t mind having the office of the Presidency but wanted a ceremonial one that does not come with the outrageous multi million dollar salary.
This is the feedback of the people who bothered to take a stand. Would the govt take this feedback seriously and cancel the EP office, replace it with a ceremonial one? The sample size of the poll may be small, but I think it is quite representative of the views of the population. The govt may want to conduct a bigger poll to get a confirmation that this is what the people want and not what the govt wants for the Presidency.
This is feedback too.
We just conducted a poll and 40% of the respondents wanted the EP to be abolished. Another 40% didn’t mind having the office of the Presidency but wanted a ceremonial one that does not come with the outrageous multi million dollar salary.
This is the feedback of the people who bothered to take a stand. Would the govt take this feedback seriously and cancel the EP office, replace it with a ceremonial one? The sample size of the poll may be small, but I think it is quite representative of the views of the population. The govt may want to conduct a bigger poll to get a confirmation that this is what the people want and not what the govt wants for the Presidency.
This is feedback too.
The safest Singapore bank
I would put UOB as the safest Singapore bank for one simple reason. It is managed by the real owner. You can’t imagine the real owner selling away its family jewel. It is possible only if a prodigal son appears on the scene. Not likely at the moment.
The risk of UOB going the way of Barings or UBS is much lesser. There is ownership. In the case of banks managed by professional managers, you would not know when they will strike a deal or did a Nick Leeson and the bank will be gone.
In today’s world, where integrity and trustworthiness can be bought by money, it is always the price to pay. The old virtues of righteousness, honesty, loyalty and yes, integrity and trustworthiness, are good to have ideals. Not meant to be taken seriously by those who are too smart. When they are too smart, the only interest is their own pockets.
In every commercial deal someone will be taking a cut. The bigger the deal the more attractive will be the cut. The Chairman or directors would also be in the game for the cut. When the new ethos is every man for himself, all institutions and organizations managed by clever professional managers are at risk.
When countries can be sold, what is so special about banks or sovereign funds when they are managed not by the true owners but by professional managers who owe no loyalty to the organization except to themselves? Most of the big international banks and MNCs are now in the hands of professional managers with the minority shareholders not knowing what is happening and still very trusting of the management.
What is so special about Singapore and Singapore govt owned organizations when they are managed by professional managers who owe no loyalty to the country? Who is there to guard against professional theft or adventurism when UBS too can do nothing about it?
Nothing beats the real owner sitting in management and watching his own money carefully. The day UOB goes the way of being run by professional managers, without the owners in control, I will withdraw my view that it is the safest bank.
The risk of UOB going the way of Barings or UBS is much lesser. There is ownership. In the case of banks managed by professional managers, you would not know when they will strike a deal or did a Nick Leeson and the bank will be gone.
In today’s world, where integrity and trustworthiness can be bought by money, it is always the price to pay. The old virtues of righteousness, honesty, loyalty and yes, integrity and trustworthiness, are good to have ideals. Not meant to be taken seriously by those who are too smart. When they are too smart, the only interest is their own pockets.
In every commercial deal someone will be taking a cut. The bigger the deal the more attractive will be the cut. The Chairman or directors would also be in the game for the cut. When the new ethos is every man for himself, all institutions and organizations managed by clever professional managers are at risk.
When countries can be sold, what is so special about banks or sovereign funds when they are managed not by the true owners but by professional managers who owe no loyalty to the organization except to themselves? Most of the big international banks and MNCs are now in the hands of professional managers with the minority shareholders not knowing what is happening and still very trusting of the management.
What is so special about Singapore and Singapore govt owned organizations when they are managed by professional managers who owe no loyalty to the country? Who is there to guard against professional theft or adventurism when UBS too can do nothing about it?
Nothing beats the real owner sitting in management and watching his own money carefully. The day UOB goes the way of being run by professional managers, without the owners in control, I will withdraw my view that it is the safest bank.
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