It is unusual for a small fare hike to generate so much heat. When comparing to the fares in big cities like New York or London or Paris, or Tokyo, the taxi fares here are too cheap. It can go up another few notches to be in the league with the big cities. We are now the 6th most expensive cities in Asia which is still too far to claim the top position. We need to work harder to be at the top.
So what is all the hooha about the taxi fare hike? Cost of living has gone up, property prices, car prices, diesel prices, and the taxi drivers need to get some pay increases as well. When people earning millions of dollars are not satisfied and wanting more increases, it is only natural that the taxi drivers should want to earn more as well. They may not be thinking of another private property or upgrading to private properties, but the cost of a public flat is no longer that cheap anymore, but of course mah, still affordable.
Let’s not begrudge the taxi drivers from wanting to earn more income to support their families. But the way they went about it may cause some concern. The Competition Commission of Singapore has raised its sensors when ComfortDelgro opening called for other taxi operators to join in the fare hike. It is lucky that they made it an open call for fare increase. If they have done it quietly, it will become price collusion or price fixing. An open call is not price collusion or price fixing. They are safe and not violating any laws.
Some taxi operators are itching under the pants. Who would not want to raise the fare and bring more money home? It will be very tough for any operator not do follow suit.
Would it be too much to ask for to expect a few operators to hold their fares and refuse to join the hike? Actually it will be a big boost for all the operators not to go along and the passengers would have an easy choice to make when calling for taxis. They could all boycott, okay boycott is not a good word to use, they could all call for other taxis except those from ComfortDelgro. In this way, they need not pay more while the other taxi operators will enjoy at least a doubling of income when the demand for their cabs goes up immediately.
We have never seen such competition in practice in a free market situation. With limited number of operators, it is difficult to prevent collusion or monopoly of fare prices. This current fare hike is a great opportunity for the taxi industry to try to do what is best for them and their customers and allow free market forces to be in play. Alternative political parties may want to chip in to support a system where the fare structure is different for different operators. Nevermind the argument that everyone must follow the same system and structure so as not to confuse customers.
At this point in time, the customers are used to the present system and announcing that they will stick to the present system will not confuse anyone. The only customers that will be confused will be those taking ComfortDelgro and faced with the new system.
The ball is now in the court of the smaller taxi operators. They could go it on their own and claim a bigger market share. This time the market share will be big without them having to do anything. I say, give the customers a chance to have different fare structure and different fares.
Be loyal to your customers and think of their interests and their pockets.
By not hiking their fares, their income will still go up if the loyal customers and new customers choose not to call ComfortDelgro cabs. But the price is that they would be working harder as the demand will definitely be very high. I will definitely go for the other operators when there is a choice.
It's business and fair competition in practice. Go for it man, get your market share and a bigger piece of the pie, and win more goodwill from the grateful customers. The customers will definitely remember and reward the taxi operators for not hiking fares at a time like this.
12/07/2011
12/06/2011
The Americans are coming to save Asians
The Americans are coming to Asia to lead the Asians to a better future. Asia is where they belonged. They have never left. If you stand at Changi Point and squint your eyes a little, you may be able to see LA at the horizon. Bangkok or Jakarta would probably be too far away.
This morning when I read Tommy Koh’s address to the Japanese on how peaceful and how welcomed the Americans are, I feel that I must be pretty naïve, or I am suffering from dementia. It is more a combination of both, really.
The Americans are like Asians on the other side of the Pacific Ocean. And they have been bringing peace to Asia for the last 70 years since the end of World War II. When the Koreans and Vietnamese were trying to start another big world war, it was the Americans who came in to defeat them and bring peace to East Asia. Otherwise the region will be marred in unceasing conflicts among the belligerent regional states.
The great deeds of the Americans can best be seen in the Middle East. Look, they have brought peace to Iraq, Afghanistan, Pakistan and Libya. Now that their job is done in that region, it is the turn of the Asians to receive the American blessing.
And the Asean countries are opening their arms widely to receive the Great White Hope, to emancipate them from poverty, war, dictatorship and authoritarian regimes. The Philippines, Vietnam and Indonesia are feasting the President like a Hollywood star. They were all gaga where he graced the Asean summit with his imposing presence. Without him, the Asean summit would have been meaningless, leaderless.
And India too would be flipping over with the sight of the Americans. The President even goaded the Australians to sell uranium to India, the first beneficiary of the American generosity, for peace of course.
The next great blessing coming the Asian way will be the Trans Pacific Pact to replace the FTAAP. The later is moribund, ineffective without the great leadership from America. And who says the TPP was an American concoction? It was launched by Chile, New Zealand and Singapore. The Americans just assumed leadership and make it better, that’s all.
And it has absolutely nothing about containing China. China is not excluded from joining. It can invite itself in on condition that all the members agree to accept its membership just like when China tried to join WTO. Nothing unusual, nothing of the sort like containing China. Please do not read too much into this kind of arrangement.
The Americans will lead the region to prosperity and peace with more cheap American goods to go around. Chinese cheap goods are of poorer quality and manufactured from exploitation of its own labour and abusing human rights and should be excluded.
The Americans are in the region to share power with the Chinese. But China’s entry into TPP would have to be blessed by the Americans. Oops, not really, but by all the members of the Pact. The Americans have no more use of their military forces in the peaceful Middle East they have left behind and would probably deployed these peaceful soldiers to the western Pacific Region for peace and stability. The first beneficiary of this peaceful gesture is Australia where the first consignment of troops will be stationed. But the 2,500 marines would be too small a force to maintain peace. The Asian nations will have to wait for the full deployment of the American main forces with its HQ likely to be in the Philippines or Vietnam, for a better guarantee of peace in the region. Without the presence of American troops in the region there can never be peace.
Remember the Korean War and the Vietnam War? It was the presence of American troops that brought peace to these two countries.
My apologies for the incoherent grumbling. I am just too naïve to see the goodness of the Americans in the region. The ineffective regional associations like Asean and FTAAP should make way for new associations led by the able leadership of America. Only then can this region live in peace and prospers. Please forgive me as I also have a bit of dementia and my views are pretty childish at times. You can be nicer to me by calling me innocent. But I must say that with the return of America to the region, good times are coming.
The Philippines, Indians and Vietnamese are celebrating. Of course Australia, Japan and South Koreans will feel more secure and more Asians. Not sure about the rest of Asean and China.
This morning when I read Tommy Koh’s address to the Japanese on how peaceful and how welcomed the Americans are, I feel that I must be pretty naïve, or I am suffering from dementia. It is more a combination of both, really.
The Americans are like Asians on the other side of the Pacific Ocean. And they have been bringing peace to Asia for the last 70 years since the end of World War II. When the Koreans and Vietnamese were trying to start another big world war, it was the Americans who came in to defeat them and bring peace to East Asia. Otherwise the region will be marred in unceasing conflicts among the belligerent regional states.
The great deeds of the Americans can best be seen in the Middle East. Look, they have brought peace to Iraq, Afghanistan, Pakistan and Libya. Now that their job is done in that region, it is the turn of the Asians to receive the American blessing.
And the Asean countries are opening their arms widely to receive the Great White Hope, to emancipate them from poverty, war, dictatorship and authoritarian regimes. The Philippines, Vietnam and Indonesia are feasting the President like a Hollywood star. They were all gaga where he graced the Asean summit with his imposing presence. Without him, the Asean summit would have been meaningless, leaderless.
And India too would be flipping over with the sight of the Americans. The President even goaded the Australians to sell uranium to India, the first beneficiary of the American generosity, for peace of course.
The next great blessing coming the Asian way will be the Trans Pacific Pact to replace the FTAAP. The later is moribund, ineffective without the great leadership from America. And who says the TPP was an American concoction? It was launched by Chile, New Zealand and Singapore. The Americans just assumed leadership and make it better, that’s all.
And it has absolutely nothing about containing China. China is not excluded from joining. It can invite itself in on condition that all the members agree to accept its membership just like when China tried to join WTO. Nothing unusual, nothing of the sort like containing China. Please do not read too much into this kind of arrangement.
The Americans will lead the region to prosperity and peace with more cheap American goods to go around. Chinese cheap goods are of poorer quality and manufactured from exploitation of its own labour and abusing human rights and should be excluded.
The Americans are in the region to share power with the Chinese. But China’s entry into TPP would have to be blessed by the Americans. Oops, not really, but by all the members of the Pact. The Americans have no more use of their military forces in the peaceful Middle East they have left behind and would probably deployed these peaceful soldiers to the western Pacific Region for peace and stability. The first beneficiary of this peaceful gesture is Australia where the first consignment of troops will be stationed. But the 2,500 marines would be too small a force to maintain peace. The Asian nations will have to wait for the full deployment of the American main forces with its HQ likely to be in the Philippines or Vietnam, for a better guarantee of peace in the region. Without the presence of American troops in the region there can never be peace.
Remember the Korean War and the Vietnam War? It was the presence of American troops that brought peace to these two countries.
My apologies for the incoherent grumbling. I am just too naïve to see the goodness of the Americans in the region. The ineffective regional associations like Asean and FTAAP should make way for new associations led by the able leadership of America. Only then can this region live in peace and prospers. Please forgive me as I also have a bit of dementia and my views are pretty childish at times. You can be nicer to me by calling me innocent. But I must say that with the return of America to the region, good times are coming.
The Philippines, Indians and Vietnamese are celebrating. Of course Australia, Japan and South Koreans will feel more secure and more Asians. Not sure about the rest of Asean and China.
About time to switch from cars to taxis
The charges for taxis will be going up next week. ComfortDelgro, the biggest taxi operator, has just announced the price hike, for good reasons. Cost of diesel, cars etc have been going up. Also, taxi operators need a pay rise too with the high cost of living. And demand is getting stronger with bigger population and more tourists coming in. I agree that these are all good reasons for a price hike.
And comfort is asking the other taxi operators to follow their footstep, to raise their fares. This is nothing to do with anti competition or collusion to fix prices. The other operators have a right to do otherwise.
With the higher fares being charge, it is expected that some of those who cannot afford the hike will have to take buses or trains. I will wait for another few more hikes to make it a bit pricier so that only dignified people can afford to take taxis. Then I will give up my car and switch to taxis when taking taxi becomes a dignified affair.
And comfort is asking the other taxi operators to follow their footstep, to raise their fares. This is nothing to do with anti competition or collusion to fix prices. The other operators have a right to do otherwise.
With the higher fares being charge, it is expected that some of those who cannot afford the hike will have to take buses or trains. I will wait for another few more hikes to make it a bit pricier so that only dignified people can afford to take taxis. Then I will give up my car and switch to taxis when taking taxi becomes a dignified affair.
Minus one zero from your Sing dollar
Singaporeans are feeling rich with high property value and high salary. If you compare the wealth of Singaporeans today and 30 years ago, Singaporeans are generally better off, richer, with more asset value to their credit. And the smarter and more talented ones are richer than their counterparts in the past beyond words.
Yes everyone is getting richer, but the real wealth or value is about one zero less from what they have. The real value of a 5 rm today is really the same value of a 5 rm flat yesterday, with a little enhancement. A $500k flat is actually the same $50k or $30k flat then. And only half life left.
An income of $5k is really $500 then. That is the real value of our money’s worth. There are certain items where the prices are about the same as in the past, some may even be cheaper. But for many things, the prices have gone up by more than 100%.
A 10c cup of kopi is $1. A 30c bowl of noodle is $4. A car of $10k is $100k. A flat of $30k is more than $300k.
In order to maintain the same level of living, one should rightly be earning 10 times the income 30 years ago, ie $1000 income should be $10k income. Today this is achieved in quite a number of households by adding two incomes together. While in the past, it was quite reasonable for an average worker to earn $1k. Today, to make $5k is not that easy really and to take home $10k by an employee is quite exceptional, unless one becomes an MP.
So, is it reasonable to say that our real money value compares to 30 years ago is less 10% of the face value? It is actually much lesser. One can’t even buy a decent HDB flat with $400k from the resale market when $40k could get one a semi D then.
There is no need to officially remove one zero from our paper currency yet. Pray that there will not come a day when a few zeros need to be written off. The Americans and Europeans are actually writing one zero off now without saying so.
Yes everyone is getting richer, but the real wealth or value is about one zero less from what they have. The real value of a 5 rm today is really the same value of a 5 rm flat yesterday, with a little enhancement. A $500k flat is actually the same $50k or $30k flat then. And only half life left.
An income of $5k is really $500 then. That is the real value of our money’s worth. There are certain items where the prices are about the same as in the past, some may even be cheaper. But for many things, the prices have gone up by more than 100%.
A 10c cup of kopi is $1. A 30c bowl of noodle is $4. A car of $10k is $100k. A flat of $30k is more than $300k.
In order to maintain the same level of living, one should rightly be earning 10 times the income 30 years ago, ie $1000 income should be $10k income. Today this is achieved in quite a number of households by adding two incomes together. While in the past, it was quite reasonable for an average worker to earn $1k. Today, to make $5k is not that easy really and to take home $10k by an employee is quite exceptional, unless one becomes an MP.
So, is it reasonable to say that our real money value compares to 30 years ago is less 10% of the face value? It is actually much lesser. One can’t even buy a decent HDB flat with $400k from the resale market when $40k could get one a semi D then.
There is no need to officially remove one zero from our paper currency yet. Pray that there will not come a day when a few zeros need to be written off. The Americans and Europeans are actually writing one zero off now without saying so.
12/05/2011
New opportunities in hawking
Raising standards of hawkers is a good thing and offers many opportunities for more economic activities and economic growth. The first thing is to set up a culinary school for hawkers, give it a good branding and French men may come here to take lessons too. Make sure the fee is high and at the end of the course, give a nicely printed Diploma on a nice shit of paper.
The next money making opportunity for the hawkers is to raise the price. The customers can’t expect to pay $4/$5 for a plate of quality char kway teow prepared by chef from our culinary school right? The hawker chefs will definitely be preparing better quality food in hawker centres and food courts and the customers will definitely be happy with better quality food. No doubt about it.
Actually there is another way to make easy money in hawking, and no need to work so hard. Just get a hawker stall and sublet it to the hawker chefs and sit back to collect $10k or more rents. This is the clever way of earning big money without having to sweat the small stuff.
Next development will be making fishmongers, butchers and vegetable sellers more professional, and upgrade smelly wet market to clean air conditioned market. The quality of life must improve and we cannot go on and on with wet and dirty markets. They can join the hawkers and call themselves PMETs. This is upgrading definitely.
The next money making opportunity for the hawkers is to raise the price. The customers can’t expect to pay $4/$5 for a plate of quality char kway teow prepared by chef from our culinary school right? The hawker chefs will definitely be preparing better quality food in hawker centres and food courts and the customers will definitely be happy with better quality food. No doubt about it.
Actually there is another way to make easy money in hawking, and no need to work so hard. Just get a hawker stall and sublet it to the hawker chefs and sit back to collect $10k or more rents. This is the clever way of earning big money without having to sweat the small stuff.
Next development will be making fishmongers, butchers and vegetable sellers more professional, and upgrade smelly wet market to clean air conditioned market. The quality of life must improve and we cannot go on and on with wet and dirty markets. They can join the hawkers and call themselves PMETs. This is upgrading definitely.
Are you glad that lease buy back scheme is extended to 4 and 5 rm flats?
Some people are glad that this scheme is extended to them so that they can sell their flats away and live on the proceeds till they die. Come with nothing go with nothing. I think they are all Buddhist or are living out the philosophy of Buddhism. And probably these people may also be those with no children to want to hand something down to them. Or maybe they have lived a dignified lifestyle, financially independent of their children and there is no obligation or attachment to want to do something kind to their children.
Or maybe family and kinship are no longer relevant or important in the culture of Singaporeans. So everyone is independent, no emotional attachment, no sentiments. They may want to die in some foreign land and would not care less if their children or relations will be present or absent at their last days or last rites.
Of course many probably understand that by the time they hit old age, they will be so broke, for one reason or another, that the only thing they can fall back on is their little flat to see them through the last years. Just pray that they do not need to be hospitalised or the little flat would not be enough to pay for the hospital bills. Or if enough, they would not have a lease buy back to fall back on anymore.
It reminds me of fate of living in smaller space. Eventually it is not unforeseeable that each Sinkie will have a space as big as those in the mortuary. And they will say no choice if we want economic growth and a better quality of life. They forfeited the right to think, to ask themselves if this is what they want, if there is an alternative, or if other people’s choice is The Choice and they cannot do anything about it.
Or maybe family and kinship are no longer relevant or important in the culture of Singaporeans. So everyone is independent, no emotional attachment, no sentiments. They may want to die in some foreign land and would not care less if their children or relations will be present or absent at their last days or last rites.
Of course many probably understand that by the time they hit old age, they will be so broke, for one reason or another, that the only thing they can fall back on is their little flat to see them through the last years. Just pray that they do not need to be hospitalised or the little flat would not be enough to pay for the hospital bills. Or if enough, they would not have a lease buy back to fall back on anymore.
It reminds me of fate of living in smaller space. Eventually it is not unforeseeable that each Sinkie will have a space as big as those in the mortuary. And they will say no choice if we want economic growth and a better quality of life. They forfeited the right to think, to ask themselves if this is what they want, if there is an alternative, or if other people’s choice is The Choice and they cannot do anything about it.
Another good catch for Singapore
Botanic Garden has appointed a Briton as the head of the
Garden after an international search. With his reputation as head of the fame Kew Garden in London, his credential is unmatched by any Singaporean. With this move to search the international arena for the best talents to help Singapore to become a betterer country in everything, it is a matter of time before they go on an international search for the Prime Minister’s post. They may also look into the position of the President. George Bush is here, and they may want to sound him out if he is interested. We can’t have these high profile positions filled by nerdy looking candidates.
We have sent so many students to the best universities in the west to learn from the best. Many would have studied in the same university as the newly appointed director. Why is it that he is betterer than all the best Sinkies we have? Did they keep a few secret chapters to themselves and would not teach foreign students so as to maintain their higher level of competence? I don’t think that is the case.
I think it is in the blood. The Westerners have good genes, genes that will automatically put them as choiced CEOs. Even if they are educated in their worst neighbourhood university, they will still look like a leader and will be hunted down by international search firms for countries that lack leaders, like Singapore.
Should the govt continue to send coolie children to the great universities of the West when they will still return looking every inch a coolie, no leadership quality? I think a better option would be to breed them. Take our best and marry the best of the Westerners. Then maybe there will be hope that the new Sinkies would be of leadership material to lead our national institutions, and looking every inch like an angmoh, suave, refined, handsome and six feet tall.
Garden after an international search. With his reputation as head of the fame Kew Garden in London, his credential is unmatched by any Singaporean. With this move to search the international arena for the best talents to help Singapore to become a betterer country in everything, it is a matter of time before they go on an international search for the Prime Minister’s post. They may also look into the position of the President. George Bush is here, and they may want to sound him out if he is interested. We can’t have these high profile positions filled by nerdy looking candidates.
We have sent so many students to the best universities in the west to learn from the best. Many would have studied in the same university as the newly appointed director. Why is it that he is betterer than all the best Sinkies we have? Did they keep a few secret chapters to themselves and would not teach foreign students so as to maintain their higher level of competence? I don’t think that is the case.
I think it is in the blood. The Westerners have good genes, genes that will automatically put them as choiced CEOs. Even if they are educated in their worst neighbourhood university, they will still look like a leader and will be hunted down by international search firms for countries that lack leaders, like Singapore.
Should the govt continue to send coolie children to the great universities of the West when they will still return looking every inch a coolie, no leadership quality? I think a better option would be to breed them. Take our best and marry the best of the Westerners. Then maybe there will be hope that the new Sinkies would be of leadership material to lead our national institutions, and looking every inch like an angmoh, suave, refined, handsome and six feet tall.
12/04/2011
The robbers are complaining
This world is getting crazy. The robbers that are fleecing the consumers by selling them highly priced items are complaining that no one is allowed to sell items priced lower than them. The Americans are threatening sanction against China for selling solar energy equipment at a cheaper price than them. This is a new kind of crime as it deprives them of higher profit by selling goods at higher prices.
Should not the Americans and the world be thankful that China could produce things cheaply and sell them cheaply as well? Anyway this international robber has had it so good for so long that he is now up in arms and threatening everyone with sanction for not getting his way, to rob.
Yes, sanction is the only word that the Americans knew. Who was that woman that professed that the Americans would not resort to coercion or threats against other countries? White lie! No, no, she is saying white truth.
And the Latin American countries, including the Caribbean countries, all 33 countries, are going to form their own economic association, not military alliance, and will exclude the US and Canada. Yes man, the Americans and the Canadians will be left out in the cold. They are smart enough not to allow them to muscle in to be the leader by coercion.
At least the Latin Americans are smarter and could get their acts together, to do what they think is best for themselves. They want to decide what is best for them and not be dictated by the Americans.
Would the stupid Asians and Africans learn to be wiser? Afraid not, with the Philippines behaving like a super power, happily arresting Chinese fishermen and thinking that China would not dare to kick their asses. And with kind of provocation by a pest, and if China reacts, the gangster will march and all the western media will cry out at the same time, that China is being assertive, bullying a pesky little country like the Philippines. And all the silly Asian countries will believe, and pretend to be in fear.
Anyway, with the unthinking Asians and Africans, it is their fate to be ruled by the Americans and to be led into another war among themselves. I just hope and pray that President Chavez of Venezuela will not be assassinated by the drug lords. Of course it will be done by the drug lords, NEVER will the Americans assassinate another country’s president. They are just so peace loving, and always use diplomacy and peaceful negotiations to settle international relations issues. No, they don’t even use threats or coercion.
No wonder the Asean countries are so happy to embrace the Americans to be the leader of Asean.
Should not the Americans and the world be thankful that China could produce things cheaply and sell them cheaply as well? Anyway this international robber has had it so good for so long that he is now up in arms and threatening everyone with sanction for not getting his way, to rob.
Yes, sanction is the only word that the Americans knew. Who was that woman that professed that the Americans would not resort to coercion or threats against other countries? White lie! No, no, she is saying white truth.
And the Latin American countries, including the Caribbean countries, all 33 countries, are going to form their own economic association, not military alliance, and will exclude the US and Canada. Yes man, the Americans and the Canadians will be left out in the cold. They are smart enough not to allow them to muscle in to be the leader by coercion.
At least the Latin Americans are smarter and could get their acts together, to do what they think is best for themselves. They want to decide what is best for them and not be dictated by the Americans.
Would the stupid Asians and Africans learn to be wiser? Afraid not, with the Philippines behaving like a super power, happily arresting Chinese fishermen and thinking that China would not dare to kick their asses. And with kind of provocation by a pest, and if China reacts, the gangster will march and all the western media will cry out at the same time, that China is being assertive, bullying a pesky little country like the Philippines. And all the silly Asian countries will believe, and pretend to be in fear.
Anyway, with the unthinking Asians and Africans, it is their fate to be ruled by the Americans and to be led into another war among themselves. I just hope and pray that President Chavez of Venezuela will not be assassinated by the drug lords. Of course it will be done by the drug lords, NEVER will the Americans assassinate another country’s president. They are just so peace loving, and always use diplomacy and peaceful negotiations to settle international relations issues. No, they don’t even use threats or coercion.
No wonder the Asean countries are so happy to embrace the Americans to be the leader of Asean.
Surrendering one’s right
Political activists are always a minority in all countries. But they are organised, just like gangsters. And as an organised force, they wield tremendous power over the people. They dictate how society should be structured, how people should live their lives, they control and run the country in the name of being the govt, elected, self appointed or by inheritance.
When a country is blessed, the political leaders are wise and will make decisions for the good of the majority. Some could really be idealistic and selfless. On the other extreme, political leaders could be selfish, self serving and ruthless. Most political leaders lie in between the good and the bad, some uglier than others.
We are blessed with good fortunes for 4 decades, with the winds blowing our way and with good men and women assuming political leadership. The blessing has made Singaporeans apathetic to what is going on around them. They surrendered their rights to decide what is best for them and allowed the political leaders to think and decide for them. Can’t blame them when good and talented leaders are thinking and working for them. When good men are in charge, an amicable populace that give the leaders a free hand will facilitate more efficiency in policy making. When not so good men are in charge, such a situation will hasten the making of bad policies.
Has Singapore reach a stage when bad policies are being made and claimed as good policies and shafted down the unthinking populace who have forgotten that they are the one to decide what is best for their own good? Or would they continue to let political leaders to rubbish them with flawed or half baked ideas and policies and tell them that they are good, the way forward?
There are many policies which I personally think are bad for the people. But the people think otherwise. Some still think that they are good. Some unsure and some just do not want to think.
This morning I will just touch on small is good. This is the new idea that is being spread in the media. Small is good, in fact can be better. So Singaporeans are being prepared mentally to expect to live in smaller spaces and pay more for them, as they are told that it is a good thing. One issue is whether this is really good or another Singaporean myth that daft Singaporeans will have to live with. The second point is whether daft Singaporeans are willing to accept this new myth and allow their lives to be structured around small is good. The third issue, which Singaporeans would not want to think about, is whether this is inevitable, that there is no way out. That we must keep increasing out population to eat up all the space that is needed for a decent and healthy living environment?
If they continue to surrender their rights to decide what is good for them and their children, it will be soon that they find themselves living like the Hongkies and the Japanese in Tokyo and trying to compete to see who is more ingenious in living like dogs in kennels.
I think it is okay for dogs to live in kennels as they are not supposed to think and will accept whatever the master provides. But some masters are more generous and even petition the govt for more space for their dogs to run around, to swim in public pools or the seas.
One day, Sinkies could really be competing with dogs for more space and the ending will be that the dogs will win and the Sinkies will have to be content to live in dog’s kennels. Have Singaporeans awaken to their rights to think for themselves, to think what is good for themselves? Or would they allow some foreigners or jokers to tell them that living in dog’s kennels is good?
I must say that some political leaders are wise, some think they are wise, and some strongly believe that they are wise, and all their policies are also wise. And when they proclaim something is good for the people, it must be good for the people. Would Sinkies be bothered at all, I mean the average Sinkies that are at the wrong end of the stick?
When a country is blessed, the political leaders are wise and will make decisions for the good of the majority. Some could really be idealistic and selfless. On the other extreme, political leaders could be selfish, self serving and ruthless. Most political leaders lie in between the good and the bad, some uglier than others.
We are blessed with good fortunes for 4 decades, with the winds blowing our way and with good men and women assuming political leadership. The blessing has made Singaporeans apathetic to what is going on around them. They surrendered their rights to decide what is best for them and allowed the political leaders to think and decide for them. Can’t blame them when good and talented leaders are thinking and working for them. When good men are in charge, an amicable populace that give the leaders a free hand will facilitate more efficiency in policy making. When not so good men are in charge, such a situation will hasten the making of bad policies.
Has Singapore reach a stage when bad policies are being made and claimed as good policies and shafted down the unthinking populace who have forgotten that they are the one to decide what is best for their own good? Or would they continue to let political leaders to rubbish them with flawed or half baked ideas and policies and tell them that they are good, the way forward?
There are many policies which I personally think are bad for the people. But the people think otherwise. Some still think that they are good. Some unsure and some just do not want to think.
This morning I will just touch on small is good. This is the new idea that is being spread in the media. Small is good, in fact can be better. So Singaporeans are being prepared mentally to expect to live in smaller spaces and pay more for them, as they are told that it is a good thing. One issue is whether this is really good or another Singaporean myth that daft Singaporeans will have to live with. The second point is whether daft Singaporeans are willing to accept this new myth and allow their lives to be structured around small is good. The third issue, which Singaporeans would not want to think about, is whether this is inevitable, that there is no way out. That we must keep increasing out population to eat up all the space that is needed for a decent and healthy living environment?
If they continue to surrender their rights to decide what is good for them and their children, it will be soon that they find themselves living like the Hongkies and the Japanese in Tokyo and trying to compete to see who is more ingenious in living like dogs in kennels.
I think it is okay for dogs to live in kennels as they are not supposed to think and will accept whatever the master provides. But some masters are more generous and even petition the govt for more space for their dogs to run around, to swim in public pools or the seas.
One day, Sinkies could really be competing with dogs for more space and the ending will be that the dogs will win and the Sinkies will have to be content to live in dog’s kennels. Have Singaporeans awaken to their rights to think for themselves, to think what is good for themselves? Or would they allow some foreigners or jokers to tell them that living in dog’s kennels is good?
I must say that some political leaders are wise, some think they are wise, and some strongly believe that they are wise, and all their policies are also wise. And when they proclaim something is good for the people, it must be good for the people. Would Sinkies be bothered at all, I mean the average Sinkies that are at the wrong end of the stick?
12/03/2011
Iskandar will be Singapore’s nemesis
The Iskandar Economic Zone, if it flourishes from all its potential, will be Singapore’s nemesis. Is has all the advantages over Singapore. It’s proximity could allow it to exploit fully, Singapore’s weaknesses and advantages to grow into a major economic centre. Given the right attitude, strong and task oriented management that is tenacious in the pursuit of its economic goals, the bulk of Singapore’s economic activity could go north, right into Iskandar.
This is the potential that Iskandar holds for the future. But there must be a political will to want to do that, to accept that economic growth and a highly intensive growth programme could also demand a price from the state. The cushy and laid back life style would be compromised, the pace of life fasten, and cost of living will rise.
Singapore has on its own way driven itself out of competition except for some key areas where it can still hold a big advantage over Iskandar, the financial centre, the expensive and presumably good consumer markets, education, perhaps medical sciences, and high tech industries. But for these Iskandar can live with as there are many areas that Iskandar can take over and grow with a big advantage in cost of labour and land.
Singapore would have to give up many of its industries that are no longer competitive. It would only be able to hold on to some core interests. The rest of the economy, the bulk of its economic activities, will have to flow into Iskandar.
And it is not all bad really. Both will benefit from the expansion of the economic zone from Singapore into southern Johore. Of course Singapore would have to give up and lose out in many of the service industry and relatively lower skill businesses. Some of the higher skilled industries too will find a place in Iskandar to complement their operations in the island. A new level of cost versus benefits will be established, with the cost of living coming down in Singapore, and winding down also of many economic activities that will go the Iskandar way.
Iskandar, from a new and lower base, will absorb and inherit many of the businesses from the island as long as it plays its card right. And Johore will be the main beneficiary of a vibrant economy arising from a bigger base, bigger land and catchment area, a bigger workforce and more investments and economic activities.
The caveat, is the Johore govt and population ready to make this leap forward. If they are, there is nothing to stop Iskandar from becoming a fully developed and integrated commercial centre of a larger Singapore, an extension of Singapore as a regional economic hub. It will rise to replace the failed golden triangle of Batam, Singapore and JB. Singapore and Iskandar will be good enough to grow into a bigger economic zone which could eclipse Batam and Bintang temporarily but not eventually.
This is the potential that Iskandar holds for the future. But there must be a political will to want to do that, to accept that economic growth and a highly intensive growth programme could also demand a price from the state. The cushy and laid back life style would be compromised, the pace of life fasten, and cost of living will rise.
Singapore has on its own way driven itself out of competition except for some key areas where it can still hold a big advantage over Iskandar, the financial centre, the expensive and presumably good consumer markets, education, perhaps medical sciences, and high tech industries. But for these Iskandar can live with as there are many areas that Iskandar can take over and grow with a big advantage in cost of labour and land.
Singapore would have to give up many of its industries that are no longer competitive. It would only be able to hold on to some core interests. The rest of the economy, the bulk of its economic activities, will have to flow into Iskandar.
And it is not all bad really. Both will benefit from the expansion of the economic zone from Singapore into southern Johore. Of course Singapore would have to give up and lose out in many of the service industry and relatively lower skill businesses. Some of the higher skilled industries too will find a place in Iskandar to complement their operations in the island. A new level of cost versus benefits will be established, with the cost of living coming down in Singapore, and winding down also of many economic activities that will go the Iskandar way.
Iskandar, from a new and lower base, will absorb and inherit many of the businesses from the island as long as it plays its card right. And Johore will be the main beneficiary of a vibrant economy arising from a bigger base, bigger land and catchment area, a bigger workforce and more investments and economic activities.
The caveat, is the Johore govt and population ready to make this leap forward. If they are, there is nothing to stop Iskandar from becoming a fully developed and integrated commercial centre of a larger Singapore, an extension of Singapore as a regional economic hub. It will rise to replace the failed golden triangle of Batam, Singapore and JB. Singapore and Iskandar will be good enough to grow into a bigger economic zone which could eclipse Batam and Bintang temporarily but not eventually.
12/02/2011
Conditions for a failed stock market
Technology and financial whiz kids have made stock trading not what it was before. High speed computers and how they are being applied to the stock trading system are a recent development that is more a curse rather than light at the end of the tunnel. Then there is high speed communication and the ability to move huge funds across borders to effect trading makes stock trading very precarious.
The war chests of big funds today are so huge that many could dominate the trading activities of small stock markets. And when operating in concert, several funds could execute transactions many times the size of the normal daily trading volumes of a small market. The implication is that they could corner not only several stocks but virtually take control of all the trading activities in a market. They could churn stocks up and down to their advantage.
Such a situation is made worst by small stock markets with fewer stocks and smaller capitalisation, and lesser number of investors. The small traders become easy preys to the big funds. And with the permission and connivance of stock market regulators, the funds could muscle their way into the system with their computers plugged in and extracting whatever information on buy and sell in their favour.
The rationale that the same thing is being done in New York is invalid. In a big market, with many similar big funds, there is a possibility of them cancelling each other’s action. In a small market, it is like a big fish in a small pond, it can cause big waves and rule the pond.
To make matters worst, some small exchanges are in a hurry to grow, to show results, and are tempted by the big funds’ presence. The big funds took advantage of the greed and impatience of small exchanges by dangling the carrot of bringing in their war chests to increase trading volumes to a small market. In return they dictated to the small exchanges how the trading system should operate, reducing bid sizes, reducing trading fees, and applying a lighter touch through deregulations, and of course allow their computers to plug into the system. The big funds thus were able to manipulate the trading systems and rules and regulations for easy profits.
Rules could be bent to accommodate the needs of the big funds, for instance, while short selling is not allowed in many exchanges, the big funds could circumvent this through scrip borrowings. The exchanges could be easily convinced, and being a willing partner that is dependent on the patronage of big funds, they would create a scrip lending systems for the big funds to cover their short positions. The convenient excuse is that it is another business for long term investors to enjoy some income, and for the exchange too.
The truth is that these innocent and ignorant long term investors would earn a pittance in scrip lending but end up facilitating the big funds to drive down the value of their long term investments.
Under normal circumstances, most exchange regulators would not condone to such violations to the integrity of the trading system. But exchanges are hungry for income and business. The higher the trading volume the more clearing fees they will collect to boost their bottom line. And they could justify to their stakeholders with the good returns, and keep a close eye while the big funds clean up the small investors in the market. And they can claim that it is caveat emptor, that the investors came in with their eyes open. No one is forcing the investors to trade.
A more convenient situation will be an exchange that is self regulating. It can then do anything it wants, provides whatever flimsy excuses, to run a flawed system, a system that allows the big funds to take advantage of the small traders. The outcome is quite clear when only the big funds are making profits and the general investors are all losing their pants. This can only happen when the authority ignores the risk of conflict of interests, when an exchange is profit seeking and allowed to regulate itself.
The govt or authority is the ultimate arbiter of the conduct of an exchange. It is the authority of last resort to ensure that stock exchanges are properly run and not run solely for its own benefits at the expense of other stake holders. But the ultimate authority can also fall asleep, thinking that if they have the best men in charge, an exchange will be properly and fairly managed.
There are many other reasons for a govt to give an exchange a free hand to do as it likes. It can be a matter of convenience, or a matter of incompetence, that they are dumber than the exchange management and are afraid to question what the exchange is doing.
There could also be a higher objective, to want to build up a big exchange at all cost, at the quickest time. Such wild ambition, and without full knowledge of how the exchange is being run, how destructive the big funds and their high speed computers can be to an exchange, things can go very wrong. As long as the exchange management can claim that what they are doing is to achieve the objective of a big and vibrant stock market, they could be easily left off the hook.
Another condition is that there is no whistle blower. No one wants to assume the leadership to point out the flaws in the system. Everyone is watching, knowing that things are going wrong, but not willing to rock the boat. All the institutions that claimed to look after the interests of the investors just looked the other way. Maybe they could not see anything wrong. Maybe they are waiting for things to happen to play safe. Doing nothing is the safest thing to do. And the govt or authority continues in their ignorant bliss. No complains, so everything is fine.
In reality, exchanges are normally managed wisely by competent managers. There could be some misses now and then, and some of the above conditions may exist at one time or another. But it is unlikely that all the conditions will exist at the same time. When there is a confluence of all these conditions existing, the failure of the stock exchange is imminent.
All govts and regulators must be alert and watch how their exchanges are being operated, and to look out for such warning signs and to take preventive actions early. Failing to do so is being negligent and irresponsible.
The war chests of big funds today are so huge that many could dominate the trading activities of small stock markets. And when operating in concert, several funds could execute transactions many times the size of the normal daily trading volumes of a small market. The implication is that they could corner not only several stocks but virtually take control of all the trading activities in a market. They could churn stocks up and down to their advantage.
Such a situation is made worst by small stock markets with fewer stocks and smaller capitalisation, and lesser number of investors. The small traders become easy preys to the big funds. And with the permission and connivance of stock market regulators, the funds could muscle their way into the system with their computers plugged in and extracting whatever information on buy and sell in their favour.
The rationale that the same thing is being done in New York is invalid. In a big market, with many similar big funds, there is a possibility of them cancelling each other’s action. In a small market, it is like a big fish in a small pond, it can cause big waves and rule the pond.
To make matters worst, some small exchanges are in a hurry to grow, to show results, and are tempted by the big funds’ presence. The big funds took advantage of the greed and impatience of small exchanges by dangling the carrot of bringing in their war chests to increase trading volumes to a small market. In return they dictated to the small exchanges how the trading system should operate, reducing bid sizes, reducing trading fees, and applying a lighter touch through deregulations, and of course allow their computers to plug into the system. The big funds thus were able to manipulate the trading systems and rules and regulations for easy profits.
Rules could be bent to accommodate the needs of the big funds, for instance, while short selling is not allowed in many exchanges, the big funds could circumvent this through scrip borrowings. The exchanges could be easily convinced, and being a willing partner that is dependent on the patronage of big funds, they would create a scrip lending systems for the big funds to cover their short positions. The convenient excuse is that it is another business for long term investors to enjoy some income, and for the exchange too.
The truth is that these innocent and ignorant long term investors would earn a pittance in scrip lending but end up facilitating the big funds to drive down the value of their long term investments.
Under normal circumstances, most exchange regulators would not condone to such violations to the integrity of the trading system. But exchanges are hungry for income and business. The higher the trading volume the more clearing fees they will collect to boost their bottom line. And they could justify to their stakeholders with the good returns, and keep a close eye while the big funds clean up the small investors in the market. And they can claim that it is caveat emptor, that the investors came in with their eyes open. No one is forcing the investors to trade.
A more convenient situation will be an exchange that is self regulating. It can then do anything it wants, provides whatever flimsy excuses, to run a flawed system, a system that allows the big funds to take advantage of the small traders. The outcome is quite clear when only the big funds are making profits and the general investors are all losing their pants. This can only happen when the authority ignores the risk of conflict of interests, when an exchange is profit seeking and allowed to regulate itself.
The govt or authority is the ultimate arbiter of the conduct of an exchange. It is the authority of last resort to ensure that stock exchanges are properly run and not run solely for its own benefits at the expense of other stake holders. But the ultimate authority can also fall asleep, thinking that if they have the best men in charge, an exchange will be properly and fairly managed.
There are many other reasons for a govt to give an exchange a free hand to do as it likes. It can be a matter of convenience, or a matter of incompetence, that they are dumber than the exchange management and are afraid to question what the exchange is doing.
There could also be a higher objective, to want to build up a big exchange at all cost, at the quickest time. Such wild ambition, and without full knowledge of how the exchange is being run, how destructive the big funds and their high speed computers can be to an exchange, things can go very wrong. As long as the exchange management can claim that what they are doing is to achieve the objective of a big and vibrant stock market, they could be easily left off the hook.
Another condition is that there is no whistle blower. No one wants to assume the leadership to point out the flaws in the system. Everyone is watching, knowing that things are going wrong, but not willing to rock the boat. All the institutions that claimed to look after the interests of the investors just looked the other way. Maybe they could not see anything wrong. Maybe they are waiting for things to happen to play safe. Doing nothing is the safest thing to do. And the govt or authority continues in their ignorant bliss. No complains, so everything is fine.
In reality, exchanges are normally managed wisely by competent managers. There could be some misses now and then, and some of the above conditions may exist at one time or another. But it is unlikely that all the conditions will exist at the same time. When there is a confluence of all these conditions existing, the failure of the stock exchange is imminent.
All govts and regulators must be alert and watch how their exchanges are being operated, and to look out for such warning signs and to take preventive actions early. Failing to do so is being negligent and irresponsible.
Let’s scoot to Sydney
From flying super first class in specially designed cabin to San Francisco, lying in cosy beds in wide bodied aircraft while crossing the Pacific Oceans, SIA is now trying a new business in budget airlines. It is like Shangri La going into foodcourt business. With this downstream business strategy, SIA’s business will be complete if it takes on food catering for the airline as well. It reminds me of DBS going back into post offices to serve the customers better.
The greatest achievement perhaps is the acquisition of another foreign talent as its CEO. Such talents are rare, exceptionally rare to find in this island. We have more than 40 years of aviation business history, but producing aviation professionals is something that is just simply difficult, like producing CEOs for our banking industry. Our locals just would not have the experience and the X factor to be CEOs of banks and airlines. The only chance to be one is by setting up a family business.
I believe this Australian CEO must come from the best Australian university, like all talented Australians. Singapore also has sent many of our local talents to Australian universities to study under the same lecturers and courses. Shouldn’t they be at par or similar in talent or knowledge acquired?
I read in the blog that an Australian university graduate of Singapore origin is driving taxi here. He has been replaced by foreign talents from, possibly Australia, could be the same course mate he studied together in university. And very likely their grades could be similar, but the Australian will be here as foreign talent, and may be his boss as well, enjoying all the perks and first class treatment as foreign talent.
There seems to be something missing. Why should two graduates from the same foreign university ended differently, one driving taxi and another as a top executive. One seen as non talent, another as super talent? Maybe their grades were different. Maybe the Singaporean was the average student of our system and the Australian the cream of their students. The truth is difficult to find out unless we can put their education records side by side for comparison.
Maybe there is something else. The X factor that Sinkies or most Asians just don’t have. Sinkies just don’t have that something to be suitable for top positions except in the civil service or as politicians. Put them into the private sector, they somehow don’t look good enough for the top jobs. Even foreign talents from third world countries look more desirable, and better, to fill top positions than Sinkies.
Maybe Singaporeans still look like their coolie parents and grand parents, somehow they don’t have that charisma to front the organization. Some say you need to look good in those high level positions. Some say it is a kind of aura, either one has it or doesn’t.
Blame it on the coolie stock. Until our coolie stock don’t look like Ah Seng or Ah Hock, until they are given the chances and exposure to be in those top positions, let’s keep them at the second level and leave the top management positions to foreigners with that special oomph. They really look good and possibly have straight As degree from the top Ivy League foreign universities. Our Sinkies may have straight As also, but ….
No wonder our taxi drivers are speaking quite good English and perfect to every inch as a butler. Many are probably graduates from foreign universities. Their fault is probably because they are Sinkies. If they hold a different passport, they could be here and welcomed as foreign talents.
The greatest achievement perhaps is the acquisition of another foreign talent as its CEO. Such talents are rare, exceptionally rare to find in this island. We have more than 40 years of aviation business history, but producing aviation professionals is something that is just simply difficult, like producing CEOs for our banking industry. Our locals just would not have the experience and the X factor to be CEOs of banks and airlines. The only chance to be one is by setting up a family business.
I believe this Australian CEO must come from the best Australian university, like all talented Australians. Singapore also has sent many of our local talents to Australian universities to study under the same lecturers and courses. Shouldn’t they be at par or similar in talent or knowledge acquired?
I read in the blog that an Australian university graduate of Singapore origin is driving taxi here. He has been replaced by foreign talents from, possibly Australia, could be the same course mate he studied together in university. And very likely their grades could be similar, but the Australian will be here as foreign talent, and may be his boss as well, enjoying all the perks and first class treatment as foreign talent.
There seems to be something missing. Why should two graduates from the same foreign university ended differently, one driving taxi and another as a top executive. One seen as non talent, another as super talent? Maybe their grades were different. Maybe the Singaporean was the average student of our system and the Australian the cream of their students. The truth is difficult to find out unless we can put their education records side by side for comparison.
Maybe there is something else. The X factor that Sinkies or most Asians just don’t have. Sinkies just don’t have that something to be suitable for top positions except in the civil service or as politicians. Put them into the private sector, they somehow don’t look good enough for the top jobs. Even foreign talents from third world countries look more desirable, and better, to fill top positions than Sinkies.
Maybe Singaporeans still look like their coolie parents and grand parents, somehow they don’t have that charisma to front the organization. Some say you need to look good in those high level positions. Some say it is a kind of aura, either one has it or doesn’t.
Blame it on the coolie stock. Until our coolie stock don’t look like Ah Seng or Ah Hock, until they are given the chances and exposure to be in those top positions, let’s keep them at the second level and leave the top management positions to foreigners with that special oomph. They really look good and possibly have straight As degree from the top Ivy League foreign universities. Our Sinkies may have straight As also, but ….
No wonder our taxi drivers are speaking quite good English and perfect to every inch as a butler. Many are probably graduates from foreign universities. Their fault is probably because they are Sinkies. If they hold a different passport, they could be here and welcomed as foreign talents.
12/01/2011
SDP’s pay recommendation for political office
Briefly, the SDP’s recommendation looks pretty reasonable with cabinet ministers getting 40 times the mean wage of the bottom 20% of the workforce. This works out to be $42k pm for ministers, with the PM getting $50k and the President $63k. Yes, very reasonable, minus the big bonuses!
What the recommendation amounts to is a pay cut for the ministers of about 90% or more. Now isn’t it ridiculous? My theory of RAR applies here. Things can look reasonable but can instantly become ridiculous when look at from another perspective.
The only misgivings I have, actually it is an observation, is how people’s mindset can be conditioned to an extent that it is so difficult to change. After all the publicity and discussions about the role of the president and how little he really does compares to a minister, the SDP recommendation still pegs the President’s salary higher than the PM. Beats me.
This kind of conditioning is very typical in Sin. Even people whose thinking are more than the average layman are affected by it. I will say, give the President an honorarium, a respectable amount given the role that he is doing. To me the President should not be getting even 50% of what a minister is getting. He should not even get what an MP should be getting, but conceding a higher amount is a respect for the high office.
I think anyone recommending the new salary package for the political office must bear in mind that it is reasonable and not ridiculous. But I must qualify that being reasonable and ridiculous is relative. The recommendation could be really very reasonable. It only look ridiculous when comparing to the current salaries of political office. Or put it another way, the current salaries look very ridiculous compare to the recommendations. Anyway both look ridiculous.
If the recommendation is to be adopted, which is another ridiculous thought, one good thing will happen. Property prices will fall as there will be lesser people able to throw their millions freely at properties.
What the recommendation amounts to is a pay cut for the ministers of about 90% or more. Now isn’t it ridiculous? My theory of RAR applies here. Things can look reasonable but can instantly become ridiculous when look at from another perspective.
The only misgivings I have, actually it is an observation, is how people’s mindset can be conditioned to an extent that it is so difficult to change. After all the publicity and discussions about the role of the president and how little he really does compares to a minister, the SDP recommendation still pegs the President’s salary higher than the PM. Beats me.
This kind of conditioning is very typical in Sin. Even people whose thinking are more than the average layman are affected by it. I will say, give the President an honorarium, a respectable amount given the role that he is doing. To me the President should not be getting even 50% of what a minister is getting. He should not even get what an MP should be getting, but conceding a higher amount is a respect for the high office.
I think anyone recommending the new salary package for the political office must bear in mind that it is reasonable and not ridiculous. But I must qualify that being reasonable and ridiculous is relative. The recommendation could be really very reasonable. It only look ridiculous when comparing to the current salaries of political office. Or put it another way, the current salaries look very ridiculous compare to the recommendations. Anyway both look ridiculous.
If the recommendation is to be adopted, which is another ridiculous thought, one good thing will happen. Property prices will fall as there will be lesser people able to throw their millions freely at properties.
The Art of RAR
I have developed a photography technique to capture images and turn them into photo paintings. The technique is called The Art of RAR, short for Reflection and Refraction. Basically the technique would not do away with all the reflection and refraction that would mess up an otherwise clean and clear image. Some of the details are in my Art of RAR blog.
Here I am talking about a different kind of RAR, the Art of being Reasonable and Ridiculous. When things are reasonable, seen or believe as reasonable, the people will accept them, some grudgingly, but life goes on. They will just shrug their shoulders and say what to do, it is the normal. When things become unreasonable or ridiculous, there will be under current, tension and anger, or more. The gap between being reasonable and ridiculous can be very wide and quite recognizable. Sometimes the two can be fused and confused. Sometimes what was reasonable, believed or thought to be reasonable can become ridiculous when there are conditions to magnify the differences.
When price of public housing was in the $30k or $50k level, it was reasonable. No argument about that. When they went to the $70k or $100k, still reasonable. People were happy to see their property prices appreciated. When the price moved up to the hundreds, $200k, $300k, still reasonable. Everyone feeling so much richer. Now the prices are $500k or more, still reasonable and affordable. Though the pain level has gone up, the threshold moves up as well. The frog in the boiling jar will get use to it. It will not spring up, no spring, unless it realizes that things have changed dramatically.
Everything is still reasonable. The young couple working through the prime of their lives to pay up a mortgage of 30 years for a public flat will not have any adverse feelings. Everyone is doing it. It is normal. This is the way things are supposed to be.
Would they ever change their perception that the normal is not really normal, not reasonable but ridiculous? It is just a matter of perception. While they are working their guts out to pay for the working class flat which is getting smaller and smaller, a retired minister could buy a much better flat quite easily with his pension, without working. And he need not have to take a 30 year mortgage, not 20 years, not even 10 years. No, he need not even have to take one year to pay. He could pay cash, in one day, instantly, with his pension.
When one compares this with the 30 year mortgage for a HDB flat, reasonableness becomes ridiculous, I think. But no, the Singaporeans would never think it that way. They would not have time to think, or would not even think about it. For the small minorities who think and are unhappy, they can get lost, be a quitter. They would not be missed. For every unhappy and unappreciative Singaporean there are thousands of hungry and appreciative foreigners waiting to take his place. It will be good riddance, a grouchy and potential trouble maker less if he quits.
For those who refuse to quit, all it needs is good communication to reach out to them, to tell them that things are so good. Everything is reasonable. Where got ridiculous? This is the Art of RAR, to be able to keep an even keel, to explain and ensure that everything is seen, believe and accepted as reasonable, even if they are plain ridiculous.
Here I am talking about a different kind of RAR, the Art of being Reasonable and Ridiculous. When things are reasonable, seen or believe as reasonable, the people will accept them, some grudgingly, but life goes on. They will just shrug their shoulders and say what to do, it is the normal. When things become unreasonable or ridiculous, there will be under current, tension and anger, or more. The gap between being reasonable and ridiculous can be very wide and quite recognizable. Sometimes the two can be fused and confused. Sometimes what was reasonable, believed or thought to be reasonable can become ridiculous when there are conditions to magnify the differences.
When price of public housing was in the $30k or $50k level, it was reasonable. No argument about that. When they went to the $70k or $100k, still reasonable. People were happy to see their property prices appreciated. When the price moved up to the hundreds, $200k, $300k, still reasonable. Everyone feeling so much richer. Now the prices are $500k or more, still reasonable and affordable. Though the pain level has gone up, the threshold moves up as well. The frog in the boiling jar will get use to it. It will not spring up, no spring, unless it realizes that things have changed dramatically.
Everything is still reasonable. The young couple working through the prime of their lives to pay up a mortgage of 30 years for a public flat will not have any adverse feelings. Everyone is doing it. It is normal. This is the way things are supposed to be.
Would they ever change their perception that the normal is not really normal, not reasonable but ridiculous? It is just a matter of perception. While they are working their guts out to pay for the working class flat which is getting smaller and smaller, a retired minister could buy a much better flat quite easily with his pension, without working. And he need not have to take a 30 year mortgage, not 20 years, not even 10 years. No, he need not even have to take one year to pay. He could pay cash, in one day, instantly, with his pension.
When one compares this with the 30 year mortgage for a HDB flat, reasonableness becomes ridiculous, I think. But no, the Singaporeans would never think it that way. They would not have time to think, or would not even think about it. For the small minorities who think and are unhappy, they can get lost, be a quitter. They would not be missed. For every unhappy and unappreciative Singaporean there are thousands of hungry and appreciative foreigners waiting to take his place. It will be good riddance, a grouchy and potential trouble maker less if he quits.
For those who refuse to quit, all it needs is good communication to reach out to them, to tell them that things are so good. Everything is reasonable. Where got ridiculous? This is the Art of RAR, to be able to keep an even keel, to explain and ensure that everything is seen, believe and accepted as reasonable, even if they are plain ridiculous.
11/30/2011
The world is black and white
Maldrid Braut Hegghammer, an assistant professor of the Norwegian Defense University College, Oslo has his article printed in the New York Times and republished in Today. The title of his article is ‘The real lesson of Iraq.’ His main argument is that the invasion of Iraq was a mistake for two reasons. One, the IEAE’s report was not reliable, and two, Iran’s effort to hide information about its nuclear facilities.
In his view, it was right for America to invade Iraq if the IEAE’s report was accurate and Iraq had the nuclear facilities to make nuclear weapons. This is the white countries logic that the black countries are bad, and will use nuclear arms if they have them, and it is the right thing for the white countries to attack black countries to prevent them from having nuclear weapons.
It is right and normal for white countries to possess nuclear arms and to use it or threaten to use it on black countries.
I must thank the Today paper to reveal this kind of black and white logic in the western world. That it is their right to have nuclear arms and to use nuclear arms. The black countries cannot be allowed to have nuclear arms. Black countries are dangerous while white countries are not. And it is alright to attack another black country using this justification.
Can Asean countries use this logic to attack one another should one country decides to go nuclear? This is White Rule. And the author and all white thinking readers will accept this Rule without question. One rule for the white and one rule for the black.
In his view, it was right for America to invade Iraq if the IEAE’s report was accurate and Iraq had the nuclear facilities to make nuclear weapons. This is the white countries logic that the black countries are bad, and will use nuclear arms if they have them, and it is the right thing for the white countries to attack black countries to prevent them from having nuclear weapons.
It is right and normal for white countries to possess nuclear arms and to use it or threaten to use it on black countries.
I must thank the Today paper to reveal this kind of black and white logic in the western world. That it is their right to have nuclear arms and to use nuclear arms. The black countries cannot be allowed to have nuclear arms. Black countries are dangerous while white countries are not. And it is alright to attack another black country using this justification.
Can Asean countries use this logic to attack one another should one country decides to go nuclear? This is White Rule. And the author and all white thinking readers will accept this Rule without question. One rule for the white and one rule for the black.
40 years of good governance
The MAS is celebrating 40 years of good governance. The little glitch created by the toxic notes and Lehman bonds were the exceptions of an otherwise a glittering record of how well a govt treasury transcended smoothly from a developing to a developed country. And there were many good people at the helm of the MAS to make it happened.
The road forward is treacherous with the products of the great American Ivy League universities producing crooks and scoundrels to run the American and international financial system with no qualms about moral goodness. It was like if they were told to go out and grab everything they could with their privileged education and membership to an elite class.
MAS had done well but could not prevent major hiccups along the way that are beyond its control. No one will blame MAS for making a slip here and there. But MAS should do its utmost to ensure that slips that are preventable would not be allowed to happen too often. The toxic notes incident was a wake up call that deregulations and a laid back approach is just not workable.
Are there any more toxic notes equivalents in our system that is waiting to blow up in the face of the MAS? Hopefully there isn’t. When the toxic notes were allowed into the system, I believe, due diligence would have been done by the respective organizations and some confidence that they were reasonably sound products for the markets. One lesson from this debacle is never to allow the salesman who is peddling the product to do the due diligence. He will do whatever and just enough to convince everyone that all is fine. There are vested interests in the peddlar to want to push his products into the market.
What is the state of health of our financial market? Or specifically, what is the state of health of the stock market. Every piece of news reported is good news. Our stock market is in the pink of health and we are marching confidently to become a major financial centre in East Asia, contending for the top position with Tokyo and Hongkong. I really hope that this is the case.
There have been many uncomfortable noises in the finance industry since the introduction of high speed trading system and high speed computers, the latter being plug into the stock exchange’s trading system. Everyone is told that this is a good thing, the way forward. Everything is simply fine, going as planned.
The uncomfortable noises and reservations about high speed trading and the unfair advantages they have over ordinary traders have been highlighted by American and European experts. Many smelt foul but would not go too far to say anything worst. And the fouling is more than meets the eyes or at least this is the general perceptions of market stakeholders. The outsiders do not have access, and do not know enough of the high speed computer trading platform to make an informed judgement.
What is high speed trading and how much do we know of this new animal is still a big question. Is it simply a case of innocent computers that just attached itself to the exchange computer system to facilitate high speed trading, and nothing more?
Perhaps it is opportune at this time for MAS to commission an in dept study of high speed trading and whether it violates the basic principles of a level playing field for all stake holders. Or is high speed trading a Frankenstein in the making and the untold damages are still unfolding? An independent team to investigate this system is needed to address the discomfort among the stakeholders, and to confirm that any misgiving is unfounded. A thorough study is warranted to assure all stake holders that they are not sucked into a quagmire without knowing what is happening.
And MAS owes this responsibility to do its part for the interests of all stake holders. If there is a lemon in the financial system, it is important to sieve it out asap before it turns into another Lehman crisis. Would MAS take on this task, or it has done so and that everything is in order? The high speed trading platform and the high speed computers are fair trading instruments that do not have added advantages over other players, nothing unfair, and there is nothing to worry about.
Such an assurance will be most welcomed to put many insecure and suspicious minds at ease. Until then, the lack of understanding of the true nature of high speed trading, how it actually works, will only lead to misunderstanding, speculation and misgivings. Transparency and public education on high speed trading system are needed for it to be accepted as a neutral tool and fair to all stake holders. Everyone wants to believe that high speed trading and high speed computers are fair game.
The road forward is treacherous with the products of the great American Ivy League universities producing crooks and scoundrels to run the American and international financial system with no qualms about moral goodness. It was like if they were told to go out and grab everything they could with their privileged education and membership to an elite class.
MAS had done well but could not prevent major hiccups along the way that are beyond its control. No one will blame MAS for making a slip here and there. But MAS should do its utmost to ensure that slips that are preventable would not be allowed to happen too often. The toxic notes incident was a wake up call that deregulations and a laid back approach is just not workable.
Are there any more toxic notes equivalents in our system that is waiting to blow up in the face of the MAS? Hopefully there isn’t. When the toxic notes were allowed into the system, I believe, due diligence would have been done by the respective organizations and some confidence that they were reasonably sound products for the markets. One lesson from this debacle is never to allow the salesman who is peddling the product to do the due diligence. He will do whatever and just enough to convince everyone that all is fine. There are vested interests in the peddlar to want to push his products into the market.
What is the state of health of our financial market? Or specifically, what is the state of health of the stock market. Every piece of news reported is good news. Our stock market is in the pink of health and we are marching confidently to become a major financial centre in East Asia, contending for the top position with Tokyo and Hongkong. I really hope that this is the case.
There have been many uncomfortable noises in the finance industry since the introduction of high speed trading system and high speed computers, the latter being plug into the stock exchange’s trading system. Everyone is told that this is a good thing, the way forward. Everything is simply fine, going as planned.
The uncomfortable noises and reservations about high speed trading and the unfair advantages they have over ordinary traders have been highlighted by American and European experts. Many smelt foul but would not go too far to say anything worst. And the fouling is more than meets the eyes or at least this is the general perceptions of market stakeholders. The outsiders do not have access, and do not know enough of the high speed computer trading platform to make an informed judgement.
What is high speed trading and how much do we know of this new animal is still a big question. Is it simply a case of innocent computers that just attached itself to the exchange computer system to facilitate high speed trading, and nothing more?
Perhaps it is opportune at this time for MAS to commission an in dept study of high speed trading and whether it violates the basic principles of a level playing field for all stake holders. Or is high speed trading a Frankenstein in the making and the untold damages are still unfolding? An independent team to investigate this system is needed to address the discomfort among the stakeholders, and to confirm that any misgiving is unfounded. A thorough study is warranted to assure all stake holders that they are not sucked into a quagmire without knowing what is happening.
And MAS owes this responsibility to do its part for the interests of all stake holders. If there is a lemon in the financial system, it is important to sieve it out asap before it turns into another Lehman crisis. Would MAS take on this task, or it has done so and that everything is in order? The high speed trading platform and the high speed computers are fair trading instruments that do not have added advantages over other players, nothing unfair, and there is nothing to worry about.
Such an assurance will be most welcomed to put many insecure and suspicious minds at ease. Until then, the lack of understanding of the true nature of high speed trading, how it actually works, will only lead to misunderstanding, speculation and misgivings. Transparency and public education on high speed trading system are needed for it to be accepted as a neutral tool and fair to all stake holders. Everyone wants to believe that high speed trading and high speed computers are fair game.
When politicians were naïve
Those were the days, not too long ago, when politicians were naïve, just a figure of speech. They were young and highly charged, with bellies full of fire, to serve the people and the country. That was a time when the country was ruled by foreigners, the colonial masters. To these young intellects, the first question that bumped into their heads was why should the country be run by foreigners who were no better than them. Probably they also believed that they could do better for country and people when they were in charge.
That kind of idealistic thinking set a trend that changed the course of our history. Young and eager men and women fought to take back this country, to run it for the betterment of its own people. When they succeeded, the locals took charge of all the major ministries and institutions, to manage them for the good of the locals, not for the Queen of England. And with the locals thinking locals, and when the political leaders were thinking of bettering the lives of the people, things changed dramatically. It was local politicians and people serving local people, for the interest and good of the people.
Has anything changed? The politicians have all changed except for one. But everything else has changed. Oh, they are still saying that they are serving the people and the people’s interests. This has not changed. But the substance has. While the first generation of leaders replaced the foreigners with locals, we are seeing more foreigners replacing the locals. Don’t be conned by the term ‘new citizens’. And as for serving the people, this is relative depending on how one views it.
There used to be the govt providing facilities, building facilities, including housing and transportation, ahead of the people’s needs, and waiting for the people to benefit from them. The people needed housing, and houses were built. Schools, hospitals, transportation, jobs, industries, were waiting for the people. Today, the people have to queue up, to wait for these services and facilities. They don’t build public housing to wait for the people. The people wait for the housings to be built. The people wait for schools for their children, wait for hospital spaces and medical services, transportations etc etc.
Jobs then were localized, decolonized. Today we are seeing a new kind of colonization in jobs. Foreigners are taking over the juicy and plum jobs all over again. And this is good, progress of a different kind. Foreigners changed shirt and become instant citizens to take over jobs from Singaporeans. From displacing foreigners we are replacing locals with foreigners/new citizens.
It is scary when a politician stands out and proclaims that he is in politics to serve the people and country. Scary indeed. The naïve politicians of the past were admirable, respectable and sincere in what they said and did. There were some honesty in their ethics, ambitions and idealism for being politicians.
Today they are pragmatic and honest. No more young and idealistic. They may even say if I am not pay so much, don’t call me. And they will delay the opening of an MRT station because there is not enough load, not profitable, not justifiable. They will build public housings, but you wait for another few years for them to be built. They cannot afford to build and wait for the people. Hospitals, transportations, public services, must be justified in terms of profits before they are built. There are exceptions of course, like public parks which were built together with public housing.
With some exceptions here and there, the ethos for public service is never the same again.
That kind of idealistic thinking set a trend that changed the course of our history. Young and eager men and women fought to take back this country, to run it for the betterment of its own people. When they succeeded, the locals took charge of all the major ministries and institutions, to manage them for the good of the locals, not for the Queen of England. And with the locals thinking locals, and when the political leaders were thinking of bettering the lives of the people, things changed dramatically. It was local politicians and people serving local people, for the interest and good of the people.
Has anything changed? The politicians have all changed except for one. But everything else has changed. Oh, they are still saying that they are serving the people and the people’s interests. This has not changed. But the substance has. While the first generation of leaders replaced the foreigners with locals, we are seeing more foreigners replacing the locals. Don’t be conned by the term ‘new citizens’. And as for serving the people, this is relative depending on how one views it.
There used to be the govt providing facilities, building facilities, including housing and transportation, ahead of the people’s needs, and waiting for the people to benefit from them. The people needed housing, and houses were built. Schools, hospitals, transportation, jobs, industries, were waiting for the people. Today, the people have to queue up, to wait for these services and facilities. They don’t build public housing to wait for the people. The people wait for the housings to be built. The people wait for schools for their children, wait for hospital spaces and medical services, transportations etc etc.
Jobs then were localized, decolonized. Today we are seeing a new kind of colonization in jobs. Foreigners are taking over the juicy and plum jobs all over again. And this is good, progress of a different kind. Foreigners changed shirt and become instant citizens to take over jobs from Singaporeans. From displacing foreigners we are replacing locals with foreigners/new citizens.
It is scary when a politician stands out and proclaims that he is in politics to serve the people and country. Scary indeed. The naïve politicians of the past were admirable, respectable and sincere in what they said and did. There were some honesty in their ethics, ambitions and idealism for being politicians.
Today they are pragmatic and honest. No more young and idealistic. They may even say if I am not pay so much, don’t call me. And they will delay the opening of an MRT station because there is not enough load, not profitable, not justifiable. They will build public housings, but you wait for another few years for them to be built. They cannot afford to build and wait for the people. Hospitals, transportations, public services, must be justified in terms of profits before they are built. There are exceptions of course, like public parks which were built together with public housing.
With some exceptions here and there, the ethos for public service is never the same again.
11/29/2011
Haloween and PAP MPs
Just visited Mr Brown’s blog and got a bit confused. He wrote that a PAP MP turned up at a Haloween party and was mistaken for playing the role of a PAP MP. Or was it someone turned up at a Haloween party dressed up as a PAP MP. Which is which?
What I know is that people either dressed up as cut out pumpkins, Frankenstein or Dracula for Haloween. Dressing up as a PAP MP must be pretty out of place. Not frightening at all. Sure cannot frighten any children there.
According to Mr Brown, he got the most applause and recognition for being in PAP MP uniform. And he did the hand shaking act damn well. And Mr Brown gave him the best candy he had.
Weird. I still didn’t get the punch line.
What I know is that people either dressed up as cut out pumpkins, Frankenstein or Dracula for Haloween. Dressing up as a PAP MP must be pretty out of place. Not frightening at all. Sure cannot frighten any children there.
According to Mr Brown, he got the most applause and recognition for being in PAP MP uniform. And he did the hand shaking act damn well. And Mr Brown gave him the best candy he had.
Weird. I still didn’t get the punch line.
Pakistan’s fate awaiting Asean
The plight of Pakistan today is simply pathetic. And they deserved every minute of it for flirting with the evil Empire. Once invited in, the Empire has no respect for the host, for national sovereignty or territorial integrity. They will brush the host aside and do what they want, like the raid on Obama deep inside Pakistan’s territory. Now they blatantly attacked and killed nearly 30 Pakistani soldiers in a prolonged and deliberate attack. So what are you going to do now Pakistan? The Empire has killed your soldiers.
Before the flirtation, the Americans would not dare to enter Pakistani territory or attack any Pakistani military positions. Now, it is fire at your own target and at your own time, at any Pakistani targets inside Pakistan.
Musharaff thought it was a great honour to be invited to the White House, to be feasted by the Emperor. He did not bargain for the outcome of his country becoming a semi colony of the Empire. That is the price Pakistan is paying today.
Asean leaders must be having wet dreams of being feasted in the White House as the honoured guest of the Emperor. The olive leaf has been waved and the invitation waiting to be delivered. Would Asean leaders take the bait and ended up with the same fate as Pakistan? For their personal ego of being seated on the right side of the Emperor, the price is their countries’ integrity as an independent nation, free from the Emperor’s troops. Some are eagerly waiting for the invitation, for the honour. The temptation is great.
Before the flirtation, the Americans would not dare to enter Pakistani territory or attack any Pakistani military positions. Now, it is fire at your own target and at your own time, at any Pakistani targets inside Pakistan.
Musharaff thought it was a great honour to be invited to the White House, to be feasted by the Emperor. He did not bargain for the outcome of his country becoming a semi colony of the Empire. That is the price Pakistan is paying today.
Asean leaders must be having wet dreams of being feasted in the White House as the honoured guest of the Emperor. The olive leaf has been waved and the invitation waiting to be delivered. Would Asean leaders take the bait and ended up with the same fate as Pakistan? For their personal ego of being seated on the right side of the Emperor, the price is their countries’ integrity as an independent nation, free from the Emperor’s troops. Some are eagerly waiting for the invitation, for the honour. The temptation is great.
Kishore Mahbubani – top 100 thinkers
Kishore has been listed as one of the world’s top 100 thinkers by a US based Foreign Policy magazine. It is a great honour to be there among the Europeans in an European centric magazine that only understands western language and thoughts.
Who is this guy? He is not angmoh. He is the Dean of the Lee Kuan Yew School of Public Policy. He got to thank the school for not replacing him with an angmoh to give the school greater credibility and be more believeable in the western intellectual circuit. Think of it, it is one of the rare corners of Singapore where the top dog is a Singaporean. For this reason alone, it is worthy to keep this School relevant as a pride of the country, that a Singaporean is found good enough to head the school.
I am not sure how long before the CEOs of the 3 local universities be headed by foreigners as obviously there are just not enough local talents of international stature to raise the profiles and rankings of these world class universities. Having foreigners to front these universities, like many of the Singapore institutions, is a good thing as they will spread the news of Singapore and how great this island is. Their presence will put the universities connected to the best universities of the West.
Then again, if we do not allow out Singaporeans a chance to take on high profile positions, how would they gain recognition by the international community? How would someone like Kishore be recognized if he ended up just another professor in the School of Lee Kuan Yew or any local universities?
Our angmoh is good mentality is a self debasing policy. If we keep giving the plump jobs to foreigners, our local talents will forever have their heads under water, to be another statistics and nothing more. We need to give more chances to the local talents and thinkers to be in the limelight, to be seen and heard, to be recognized.
Good that we have someone like Kishore. But he could be the last, just like we have a Lee Kuan Yew, and he will be the last titan this little island ever produced.
Who is this guy? He is not angmoh. He is the Dean of the Lee Kuan Yew School of Public Policy. He got to thank the school for not replacing him with an angmoh to give the school greater credibility and be more believeable in the western intellectual circuit. Think of it, it is one of the rare corners of Singapore where the top dog is a Singaporean. For this reason alone, it is worthy to keep this School relevant as a pride of the country, that a Singaporean is found good enough to head the school.
I am not sure how long before the CEOs of the 3 local universities be headed by foreigners as obviously there are just not enough local talents of international stature to raise the profiles and rankings of these world class universities. Having foreigners to front these universities, like many of the Singapore institutions, is a good thing as they will spread the news of Singapore and how great this island is. Their presence will put the universities connected to the best universities of the West.
Then again, if we do not allow out Singaporeans a chance to take on high profile positions, how would they gain recognition by the international community? How would someone like Kishore be recognized if he ended up just another professor in the School of Lee Kuan Yew or any local universities?
Our angmoh is good mentality is a self debasing policy. If we keep giving the plump jobs to foreigners, our local talents will forever have their heads under water, to be another statistics and nothing more. We need to give more chances to the local talents and thinkers to be in the limelight, to be seen and heard, to be recognized.
Good that we have someone like Kishore. But he could be the last, just like we have a Lee Kuan Yew, and he will be the last titan this little island ever produced.
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