The sheer thought of the second wind is invigorating. Singaporeans are so lucky. This is a pleasure that only Singaporeans are blessed with. With life expectancy reaching 80 or 90, life begins again for Singaporeans at 60.
The first thing for those hitting the 6 big zeros, is to think about schooling, just like when they were 6. Go back to school to learn a skill, like the ITE. I am still wondering why old dogs need to learn new tricks. Nevermind, after a year or so, and armed with a new certificate, it is time to write the resume. The thought of going for the first job interview is exciting, adrenalin is gushing through my veins. Must get the white shirt nicely pressed.
In the meantime register to join a gym. Got to get the muscles toned and the skin taut. The face part is not a problem, just go for Botok. The eyes, ok, lasik surgery is so common now. In fact go for the full course, the hair, the denture, the manicure, it is a new life man.
Looking ahead, getting a new girl friend, courtship and perhaps marriage. And there could be little children running around too. And soon got to think of choosing the best primary school again for the little ones. May even have to do some voluntary work for a good primary school. These are the things that make one thinking, and feeling young once more.
With a fresh list of responsibilities and challenges, buying a flat, getting insurance and all those things, and preparing for retirement in another 20 years, things cannot be better. With the experience gained before, the second round can only be better.
I hope Boon Wan would let these first timers get their HDB flats. Yes first time seniors. Only after 60 can one qualify as a first timer once again.
Creak. What’s that noise? Uncle, you can have my seat. No thank you. I am 60 years young.
10/08/2011
Ministerial jobs are too easy
This is the impression I had everytime I see more appointments being loaded onto the ministers. I thought being a minister, running a ministry, on top of all the MP and constituency matters would be enough to bog down a man for all his 24 hours. Apparently this is just a misperception from on ordinary bean. Either the jobs are simply too easy to handle, or the ministers have more than 24 hours a day and the biological constitutions to keep them going.
Chee Hean and Tharman have just been appointed as the Chairman and Deputy Chairman of the National Research Foundation(NRF), a high level organisation that gives grants and directions to the R&D in Singapore. These appointments are not for people who simply sign off millions or billions of dollars without thinking. They are serious appointments.
Both Chee Hean and Tharman are deputy Prime Ministers, and Chee Hean is also Coordinating Minister for National Security and Minister for Home Affairs. Tharman is also Minister for Finance and Manpower. I think Tharman is also in GIC or Temasek. Both must have several other very important portfolios to watch over.
They would not have become such supermen if they were just CEOs of some private sector companies. Now their super talents are fully tested, to work super fast, to grasp complicated matters in diverse ministries and issues they have no inkling of what they are before, to work super long hours. Being a minister sure can turn ordinary man into superman.
I have no doubt that a minister’s job is a serious job and a complicated job with huge responsibilities. And equally, all the other appointments they are holding are just as demanding on their intellect and time. Really admirable people, at least for their staminas. Walking from one ministry to the next is already quite energy absorbing. It is simply amazing how they can coop with their jobs and without shortchanging the people in time and details.
Wonder if they still have a life other than official duties, like a little quality time for the family?
Chee Hean and Tharman have just been appointed as the Chairman and Deputy Chairman of the National Research Foundation(NRF), a high level organisation that gives grants and directions to the R&D in Singapore. These appointments are not for people who simply sign off millions or billions of dollars without thinking. They are serious appointments.
Both Chee Hean and Tharman are deputy Prime Ministers, and Chee Hean is also Coordinating Minister for National Security and Minister for Home Affairs. Tharman is also Minister for Finance and Manpower. I think Tharman is also in GIC or Temasek. Both must have several other very important portfolios to watch over.
They would not have become such supermen if they were just CEOs of some private sector companies. Now their super talents are fully tested, to work super fast, to grasp complicated matters in diverse ministries and issues they have no inkling of what they are before, to work super long hours. Being a minister sure can turn ordinary man into superman.
I have no doubt that a minister’s job is a serious job and a complicated job with huge responsibilities. And equally, all the other appointments they are holding are just as demanding on their intellect and time. Really admirable people, at least for their staminas. Walking from one ministry to the next is already quite energy absorbing. It is simply amazing how they can coop with their jobs and without shortchanging the people in time and details.
Wonder if they still have a life other than official duties, like a little quality time for the family?
10/07/2011
The big scheme of things
The happenings in the stock markets around the world are happening because of the big scheme of things. Everyone is thinking damn bloody big, the biggest stock market, the biggest capitalization, the biggest computers, the biggest funds and the biggest war chests to manipulate the markets. No need to bother with slow and troublesome organic growth. Just MA, buy, acquire and expand.
When the heads are swelling so big, they forget the small stuff. There will not be any negativity in being too big too quick, think only the good stuff. The winds do not blow like before. It is like climatic change, big typhoons and big hurricanes. They move in and out, drive stocks up and down, only to clean up everything. Acts of God, no one to be blamed.
The falls in the world stock market are not just due the financial crisis, but aided by the big scheme of things. The big money and big machines were allowed to utilize their full advantage of size and speed. On paper, the machines are there to help generate liquidity, to bring down the cost of trading, for a more efficient system. No flaws. The machines are brought in to do social and charitable services at no cost.
In reality, the liquidity and lower cost of trading are there to facilitate the machines in their mopping up operations, cleaning up the whole market. By the time it hits, it is too late to run. Greed? Yes, with greed, all safeguards were down. And when the Americans are doing it, it must be good, it must be the way to go. It is where all the money of small investors will go.
All the big long term investors, including sovereign funds, must be bleeding profusely in the last few days.
No one wants to know why, or that they have allowed the system to turn into a monster, a Frankenstein, wrecking havoc at will, sanctioned by the authorities. There is nothing illegal, all part and parcel of a big and brilliant system, part of the game, part of the big scheme of things.
Very big, very good.
When the heads are swelling so big, they forget the small stuff. There will not be any negativity in being too big too quick, think only the good stuff. The winds do not blow like before. It is like climatic change, big typhoons and big hurricanes. They move in and out, drive stocks up and down, only to clean up everything. Acts of God, no one to be blamed.
The falls in the world stock market are not just due the financial crisis, but aided by the big scheme of things. The big money and big machines were allowed to utilize their full advantage of size and speed. On paper, the machines are there to help generate liquidity, to bring down the cost of trading, for a more efficient system. No flaws. The machines are brought in to do social and charitable services at no cost.
In reality, the liquidity and lower cost of trading are there to facilitate the machines in their mopping up operations, cleaning up the whole market. By the time it hits, it is too late to run. Greed? Yes, with greed, all safeguards were down. And when the Americans are doing it, it must be good, it must be the way to go. It is where all the money of small investors will go.
All the big long term investors, including sovereign funds, must be bleeding profusely in the last few days.
No one wants to know why, or that they have allowed the system to turn into a monster, a Frankenstein, wrecking havoc at will, sanctioned by the authorities. There is nothing illegal, all part and parcel of a big and brilliant system, part of the game, part of the big scheme of things.
Very big, very good.
Ethnic pride ethnic shame
Singaporean Chinese are different. They are not the same as the China Chinese or the Malaysian Chinese or Taiwan Chinese or any Chinese around the world. But some bear a very dominant trait in hating anything Chinese, dismissing anything Chinese, finding Chinese disgusting and something to be dissociated with. They see China Chinese as the lepers of the world, the rogue nation that meant no good but harm to the world. To this group of Singaporean Chinese, the China Chinese are the pariahs, the untouchables.
They forgot that they are Chinese too. They may call themselves Singaporeans or international citizens, citizens of the world, but they cannot hide the fact that they are the same disgusting Chinese that they detest and hate. There is no ethnic identity or pride in who they really are. They may harbour thoughts of dying their hair blond, bleaching their skin white, and adopt all mannerism of the westerners.
Can anyone be respected when he can’t even respect himself, his own identity and his own ethnicity? Such people will only be regarded as outcasts by their own ethnic groups, and be sneered at by those they hoped to be and wanted to be. The very basis of respectability is to respect yourself, your own ethnicity, be it Malay, Indian, Eurasian or Chinese. Only by respecting self can one earn respect from others.
I am a Singaporean Chinese. I do not hate nor despise the Chinese. Neither do I adore or idolize them. I do not prejudged them. I look at them as another people, to be respected or to be dissociated from, by their acts, by rights or wrongs that they do. Not simply because they are China Chinese. This applies to all other races. The 1.5b people cannot be simply grouped into one, one type, one kind, one behavior, bad and nothing good. They are a sea of humanity, with good and bad and ugly, just like us, just like every ethnic group.
But we have some very different Singaporean Chinese that have stereotyped the China Chinese, China, as simply of one kind, bad, bad intent, bad in everything. How their mindset gets to this level, with deep seated perversion of thoughts and thinking process is difficult to fathom. Our education system does not teach them to hate their ancestors, their breed or their ethnicity. How did they grow up to become thus? Yes, the Singaporean Chinese is different from all other Chinese, but some are much more different. To this group, they take pride in hating China and anything Chinese.
If they cannot see anything good in their own ethnicity, can others see anything good in them?
They forgot that they are Chinese too. They may call themselves Singaporeans or international citizens, citizens of the world, but they cannot hide the fact that they are the same disgusting Chinese that they detest and hate. There is no ethnic identity or pride in who they really are. They may harbour thoughts of dying their hair blond, bleaching their skin white, and adopt all mannerism of the westerners.
Can anyone be respected when he can’t even respect himself, his own identity and his own ethnicity? Such people will only be regarded as outcasts by their own ethnic groups, and be sneered at by those they hoped to be and wanted to be. The very basis of respectability is to respect yourself, your own ethnicity, be it Malay, Indian, Eurasian or Chinese. Only by respecting self can one earn respect from others.
I am a Singaporean Chinese. I do not hate nor despise the Chinese. Neither do I adore or idolize them. I do not prejudged them. I look at them as another people, to be respected or to be dissociated from, by their acts, by rights or wrongs that they do. Not simply because they are China Chinese. This applies to all other races. The 1.5b people cannot be simply grouped into one, one type, one kind, one behavior, bad and nothing good. They are a sea of humanity, with good and bad and ugly, just like us, just like every ethnic group.
But we have some very different Singaporean Chinese that have stereotyped the China Chinese, China, as simply of one kind, bad, bad intent, bad in everything. How their mindset gets to this level, with deep seated perversion of thoughts and thinking process is difficult to fathom. Our education system does not teach them to hate their ancestors, their breed or their ethnicity. How did they grow up to become thus? Yes, the Singaporean Chinese is different from all other Chinese, but some are much more different. To this group, they take pride in hating China and anything Chinese.
If they cannot see anything good in their own ethnicity, can others see anything good in them?
10/06/2011
Singapore a big player among the super powers
Yes we punch above our weight. And we must guard our national interest zealously, and speak out against any nation that does anything that will harm our national interest. One particular nation is China. China is growing its military forces to a level that is becoming a threat to us. It is building aircraft carriers too, never mind if their ICBM will wipe us off the face of this earth, and this will undermine the free passage of ships along international waterways. It will be dangerous if they park their aircraft carriers in the South China Sea or in the Straits of Malacca. We must question China’s motive.
We have no problems with the Americans. Our national interests coincide with the Americans. And we are pleased with their military might and military presence. They are here to protect our national interests. The Americans are a benign and friendly superpower. They have military bases everywhere, sailing their naval fleets everywhere, including the South China Sea, all for altruistic reasons, to protect smaller countries against China. Just dunno who America was protecting against before China. What is good for the Americans is good for us. What is good for China may be dangerous to us.
Americans know this and are watching the Chinese like a hawk. The Chinese are now an equal to the American war machine. Even India is concerned. India has historical and territorial disputes with the Chinese. And both are Asian superpowers and are rivals in this sense.
The trouble is that the arrogant Chinese are ignoring even India. They are only running a race with the Americans in their cross hair. They have no time to cast a glance at the Indians. The Indians are inconsequential to them.
But still we must make known our concerns to the Chinese, to make them listen to us. China must consider our national interest in what they do. They better don’t ignore us. Hey China, tell us why you need to build such a big and powerful military force? Tell us, tell us, we want an answer. We need to question you for our national interest.
China, tell us of your intention. Don’t be rude, we are asking you, tell us, tell us…..tell us please….please. Look down here, we are here.
We have no problems with the Americans. Our national interests coincide with the Americans. And we are pleased with their military might and military presence. They are here to protect our national interests. The Americans are a benign and friendly superpower. They have military bases everywhere, sailing their naval fleets everywhere, including the South China Sea, all for altruistic reasons, to protect smaller countries against China. Just dunno who America was protecting against before China. What is good for the Americans is good for us. What is good for China may be dangerous to us.
Americans know this and are watching the Chinese like a hawk. The Chinese are now an equal to the American war machine. Even India is concerned. India has historical and territorial disputes with the Chinese. And both are Asian superpowers and are rivals in this sense.
The trouble is that the arrogant Chinese are ignoring even India. They are only running a race with the Americans in their cross hair. They have no time to cast a glance at the Indians. The Indians are inconsequential to them.
But still we must make known our concerns to the Chinese, to make them listen to us. China must consider our national interest in what they do. They better don’t ignore us. Hey China, tell us why you need to build such a big and powerful military force? Tell us, tell us, we want an answer. We need to question you for our national interest.
China, tell us of your intention. Don’t be rude, we are asking you, tell us, tell us…..tell us please….please. Look down here, we are here.
Continuous good news in the property front
During the last term of Mah Bow Tan, there was continuous good news of property prices and that they were very affordable by the way they computed affordability. When Boon Wan took over, there was continuous good news of property prices too, from building more flats to some changes in HDB policies and priorities for first timers. And the people were equally happy.
Yesterday there were two charts in the media, one on property price index over 11 years and one on HDB resale price index for 5 quarters, 2 from 2010 and 3 from 2011. The first chart showed that property price index was almost flat from 2001 to 2006. Only in 2007 that it started to shoot up and this uptrend has been consistent till today for HDB resale price. What this means is that the prices are still going up at the same pace, no letting up.
From a base of 172 in the 4th quarter of 2011, the HDB resale price index has gone up by 1.6%, 3.1% and 3.8% in the third quarter of 2011. Yes, it is going up, regardless of the number of new flats that Boon Wan is going to build. And the good news is ‘Good progress in meeting flat demand.’ Nothing about the price.
Using the 172 base, HDB resale price till the third quarter has gone up by 15.1 points to 187.1 or 8.8%. By end of the year it could easily cross the 10% mark. Again looking at the first chart, the index was at 150 at end of 2009, or an increase of 37.1 points or 24.7% by the third quarter of 2011. These must also be good news for the property owners. For the buyers or potential buyers, it can also be good news as it means that at whatever price they are going to buy their new flats, they can expect the price to go up by more than 10% per annum or doubling the price in 10 years. In reality, with the compound growth effect, the price could easily double in less than 10 years.
What more good news can one ask for? And better still, with a decreasing lease life but rising prices.
Yesterday there were two charts in the media, one on property price index over 11 years and one on HDB resale price index for 5 quarters, 2 from 2010 and 3 from 2011. The first chart showed that property price index was almost flat from 2001 to 2006. Only in 2007 that it started to shoot up and this uptrend has been consistent till today for HDB resale price. What this means is that the prices are still going up at the same pace, no letting up.
From a base of 172 in the 4th quarter of 2011, the HDB resale price index has gone up by 1.6%, 3.1% and 3.8% in the third quarter of 2011. Yes, it is going up, regardless of the number of new flats that Boon Wan is going to build. And the good news is ‘Good progress in meeting flat demand.’ Nothing about the price.
Using the 172 base, HDB resale price till the third quarter has gone up by 15.1 points to 187.1 or 8.8%. By end of the year it could easily cross the 10% mark. Again looking at the first chart, the index was at 150 at end of 2009, or an increase of 37.1 points or 24.7% by the third quarter of 2011. These must also be good news for the property owners. For the buyers or potential buyers, it can also be good news as it means that at whatever price they are going to buy their new flats, they can expect the price to go up by more than 10% per annum or doubling the price in 10 years. In reality, with the compound growth effect, the price could easily double in less than 10 years.
What more good news can one ask for? And better still, with a decreasing lease life but rising prices.
What’s the message?
I was watching this new police TV serial, EU or Emergency Unit, from Hongkong showing in Channel U. It ended last night. It was about the police against crime and triads. The triads are still there even after 1997. The serial was about the good, the honourable versus the crooked and dishonourable. The young police officers who found taking down drug traffickers and triad bosses a heroic thing to do, despite the low salary and status as police officers. Even the senior officers were devoted to their duties in service to the people, the citizens. There were risks, the young officers went undercover and giving up their lives in the course of duty.
Such admirable traits and values can only be seen in celluloid, not in real life. Hongkong used to be a very corrupt place during the colonial rule. Corruption in the civil service was rampant all the way, particularly the police force, from the little Ah Sirs walking the beat to the angmoh superintendents and higher. Money was spread all round by the triad bosses. Hongkong today is the other extreme. Corruption and triad activities have been brought down to a level unknown in its history.
I think the message of the Hongkong serial, and the MediaCorp, is that there are still idealistic young and old civil servants, and uniformed personnel, who would find duty and honour more important than just money, or to quote David Marshall, the joy and excitement of serving the people and country. The message is timely, as such virtues are now taken very lightly, seen more as desirable and idealistic but not practical in the real world. And those who want to live their lives through such values, good, though privately seen as rather daft. There is a better and real world where money and self interests are everything. Sacrifices and heroics are good to have for other people, but can live without for the practical and smart people. Only fools believe in such ideals and virtues today. The Hongkong serial is pure fiction. Agree?
PS. I think I am continuing my lecture in National Education and conducting the course here.
Such admirable traits and values can only be seen in celluloid, not in real life. Hongkong used to be a very corrupt place during the colonial rule. Corruption in the civil service was rampant all the way, particularly the police force, from the little Ah Sirs walking the beat to the angmoh superintendents and higher. Money was spread all round by the triad bosses. Hongkong today is the other extreme. Corruption and triad activities have been brought down to a level unknown in its history.
I think the message of the Hongkong serial, and the MediaCorp, is that there are still idealistic young and old civil servants, and uniformed personnel, who would find duty and honour more important than just money, or to quote David Marshall, the joy and excitement of serving the people and country. The message is timely, as such virtues are now taken very lightly, seen more as desirable and idealistic but not practical in the real world. And those who want to live their lives through such values, good, though privately seen as rather daft. There is a better and real world where money and self interests are everything. Sacrifices and heroics are good to have for other people, but can live without for the practical and smart people. Only fools believe in such ideals and virtues today. The Hongkong serial is pure fiction. Agree?
PS. I think I am continuing my lecture in National Education and conducting the course here.
10/05/2011
Sushi any one?
Or would you prefer a half inch thick medium rare Kobe beef, where the cows were fed with beer and given massages under the watchful eyes of their caregivers?
There is now a furore over the dolphins in RWS. And many people are crying foul, for keeping free living dolphins in captivity and putting them under a lot of stress with tough trainings to perform acts to please. And RWS has replied that they are committed to marine conservation and research and the knowledge learnt from the captive dolphins would be used to make life better for the dolphins and marine life. Sound convincing?
I think the Japanese were much better in telling the world that their cullings of tunas and whales were strictly for research as well. And they are killing them by the millions annually. And no one says the Japanese were lying. How’s that compare to the 10 or 20 dolphins in RWS that are kicking and swimming and alive? How’s that compare to the hundreds of dolphins in other parks around the world? Sure some will die naturally, in captivity or in the wild. Nothing beats what Nature makes them to be.
The tunas and whales have an easier time. They need not suffer the pain and stress of training and performing to crowds. They just ended at the dinner table. Oh, training and performing are bad for animals. I will support the banning of all animal shows, including circus and dog shows. The owners and trainers thought it was fun and very clever to make the animals do all those tricks. But the animals were also put through many painful and stressful lessons to learn and practice them.
All animals should be free in their natural environment, not in captivity, not in HDB flats. And also not on the dinner table. Now, what am I ranting about? It is all garbled. I also want to save all the animals and the world. Incidentally, I am half vegetarian. I still eat killed animals on alternate days and cooked vegetables for the other days.
There is now a furore over the dolphins in RWS. And many people are crying foul, for keeping free living dolphins in captivity and putting them under a lot of stress with tough trainings to perform acts to please. And RWS has replied that they are committed to marine conservation and research and the knowledge learnt from the captive dolphins would be used to make life better for the dolphins and marine life. Sound convincing?
I think the Japanese were much better in telling the world that their cullings of tunas and whales were strictly for research as well. And they are killing them by the millions annually. And no one says the Japanese were lying. How’s that compare to the 10 or 20 dolphins in RWS that are kicking and swimming and alive? How’s that compare to the hundreds of dolphins in other parks around the world? Sure some will die naturally, in captivity or in the wild. Nothing beats what Nature makes them to be.
The tunas and whales have an easier time. They need not suffer the pain and stress of training and performing to crowds. They just ended at the dinner table. Oh, training and performing are bad for animals. I will support the banning of all animal shows, including circus and dog shows. The owners and trainers thought it was fun and very clever to make the animals do all those tricks. But the animals were also put through many painful and stressful lessons to learn and practice them.
All animals should be free in their natural environment, not in captivity, not in HDB flats. And also not on the dinner table. Now, what am I ranting about? It is all garbled. I also want to save all the animals and the world. Incidentally, I am half vegetarian. I still eat killed animals on alternate days and cooked vegetables for the other days.
Of course it is a thoroughbred!
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.
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.
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?
Subscribe to:
Posts (Atom)