While we I was kpkb about the illusion of progress, economist Professor Graeme Maxton wrote a book titled ‘The End of Progress’. His main theme is rather familiar. The obsession for the word progress by modern economists is going to run down this earth. Progress as interpreted by the modern economists, is laced with greed and irresponsibility, is violating the basic principles expounded by the great Adam Smith.
Govts today wave the word progress as if it’s the end all prize for any modern being. You want progress or not? Progress is even used as a threat to frighten the lay people, invokes fear in them that their life style will suffer without progress. So every donkey will shout, yea, yea, we want progress.
Today’s progress, in the macro level, is going to eat up all the resources this world is able to provide, from minerals, energy, vegetation and livestocks. Progress will lead the world’s population to a point of exhaustion, running out of everything, even land to farm and to live. Imagine every country only thinks of increasing its population in order to progress? Quite silly isn’t it?
At the micro level, progress often is an illusion when everything is eaten up by inflation. When money is inflated to give the illusion of wealth while in real terms, nothing change. In many cases, the money value is even smaller than before.
Is it progress to live in smaller and smaller flats? Is it progress when one is deprived of the convenience of car ownership? But we have limitations of land and owning bigger living space and cars are not possible. Oh, I see, we have limited land! How so, how is it that we don’t know? Why is this not taken into consideration when the little space is flooded with people and more people? We need to progress, of course. The bigger population will lead to more progress.
I can’t beat this kind of argument. We shall have more progress then, and progress to living in dog’s kennels and take public transport.
Thank you Prof Maxton, to tell the nitwits what it really is, I mean progress. Still want progress, still want to be threaten with no progress? If the cost of living is lower, the same unit of money will have greater purchasing power and is progress in better quality of life. It is foolish to think progress when every cent earn is eaten away by inflation. It is fiction.
Now, for a start, don’t believe in anyone that says smaller space is good, is progress. And not owning a car is a natural thing and also a price to pay for progress.
12/12/2011
How to trade in a market controlled by big funds
I am not going to reinvent trading methodologies to make money in the stock market. Many will still advise clients to buy low sell high, to follow charts, to follow all kinds of formula to make big profits in the stock market. People who still believe in these methodologies are still living in the dark ages.
The stock markets today are no longer the stock markets of yester years. Stock markets today are infested by big funds with super computers to monitor every trade, to play against every investor, and take the best computed positions against them, to come out the winner. Someone says it is like playing against Robocop. How many can beat the Robocop? Why are they allowed to do it is a different story, a story of ethics and morality.
Many are still following faithfully and religiously on their sure win methodology and game plan and still losing. When they think it is time to enter the market, when they think the price is low, they were wrong. Confirm, double confirm. The price would go lower. Sometimes they may make a bid or two and think their methodology is right. They did not know that at those moments, the computer was biting on other bigger gains and they happened to be on the side of the computer.
They are still some syndicate plays that are making good money. These are the real winners with the right methodology, which they would not disclose to anyone. Trade secrets or whatever, there are small pockets of winners in this new game. Other than them and Robocops, the rest are condemned to be losers.
Anyone still day dreaming of beating the Robocop and his super computers with his grand plans and grand strategies? Please, remove your blinkers. The only method to be on the winning side is to know what the computers are doing and be on the side of the computers.
An equivalent example of the game so far is the 4D run by the Tote Board. By sheer odds, the operator is likely to make a certain profit. What if the operator uses the data available in his computer on who bets on what and how much will be the payout of each number? And with the super computer, the operator decides which number to open for maximum profit instead of the current method of pure chance. The Tote Board even go to the extent of ensuring that there is no cheating, that pure chance is truly pure chance, no one allowed to use his computer to his advantage.
See the difference?
The stock markets today are no longer the stock markets of yester years. Stock markets today are infested by big funds with super computers to monitor every trade, to play against every investor, and take the best computed positions against them, to come out the winner. Someone says it is like playing against Robocop. How many can beat the Robocop? Why are they allowed to do it is a different story, a story of ethics and morality.
Many are still following faithfully and religiously on their sure win methodology and game plan and still losing. When they think it is time to enter the market, when they think the price is low, they were wrong. Confirm, double confirm. The price would go lower. Sometimes they may make a bid or two and think their methodology is right. They did not know that at those moments, the computer was biting on other bigger gains and they happened to be on the side of the computer.
They are still some syndicate plays that are making good money. These are the real winners with the right methodology, which they would not disclose to anyone. Trade secrets or whatever, there are small pockets of winners in this new game. Other than them and Robocops, the rest are condemned to be losers.
Anyone still day dreaming of beating the Robocop and his super computers with his grand plans and grand strategies? Please, remove your blinkers. The only method to be on the winning side is to know what the computers are doing and be on the side of the computers.
An equivalent example of the game so far is the 4D run by the Tote Board. By sheer odds, the operator is likely to make a certain profit. What if the operator uses the data available in his computer on who bets on what and how much will be the payout of each number? And with the super computer, the operator decides which number to open for maximum profit instead of the current method of pure chance. The Tote Board even go to the extent of ensuring that there is no cheating, that pure chance is truly pure chance, no one allowed to use his computer to his advantage.
See the difference?
12/11/2011
Asia without America – Angmoh version
If the Americans withdraw from Asia, the region will be dominated by China and Japan and this is worrying. Why should it be? Ok Japan has a history of aggression and invading neighbouring countries, including Korea, China and Southeast Asia. Has China done that? The problem that China is facing today is to reclaim its lost territories which pesky little countries are trying to make claims to. And yes, China has to be assertive to protect its own territorial sovereignty. Other than this, China has not encroached on anyone’s territory, while many of its territories are still occupied by its neighbours. These neighbours are definitely jittery as it is a matter of time before China demands for their return. So ganging up with the Americans is for their own protection, to protect the loot they looted from China.
The angmoh’s presumed fear is that China is a rogue country, expansionist and out to control its neighbouring countries. The facts of current history proved otherwise. China has not been instigating wars among its neighbours, not provoking any country, not drumming up wars or sanctions against any country because they have a different political system, and not threatening regime change. May be the angmoh superpower is doing all these fear mongering conveniently, or insidiously planting these fears in the Asian countries for their own interests.
Now, what is so worrying of a China or Japan without the Americans when at most the Chinese and Japanese would be doing what the Americans are doing? And this may not be the case. On the other hand, to have the Americans here guarantees that the Americans will be doing all these, meddling, provoking, and threatening the weaker nations. To the angmoh mindset, this is their normal and Asians must accept their modus operandi.
The other angmoh viewpoint is that they are here to manage China’s rise as a super power. Is that their responsibility? What’s that got to do with them? What has the rise of any country got to do with them that it is their job to manage other countries’ rise as a super power? Are they the chosen race, God’s messenger and army to guard the human race?
But many Asians also have this cock mindset, thinking exactly in this way. It is a given that the Americans are the master, the empire, to control, to lead, to manage every country’s affair, to provoke, instigate, subverge, sanction and conduct regime changes according to their whims and fancies. This is the right thing, the order of things for Asians. Asians must accept the American over lord as the Emperor of this earth.
The angmoh’s presumed fear is that China is a rogue country, expansionist and out to control its neighbouring countries. The facts of current history proved otherwise. China has not been instigating wars among its neighbours, not provoking any country, not drumming up wars or sanctions against any country because they have a different political system, and not threatening regime change. May be the angmoh superpower is doing all these fear mongering conveniently, or insidiously planting these fears in the Asian countries for their own interests.
Now, what is so worrying of a China or Japan without the Americans when at most the Chinese and Japanese would be doing what the Americans are doing? And this may not be the case. On the other hand, to have the Americans here guarantees that the Americans will be doing all these, meddling, provoking, and threatening the weaker nations. To the angmoh mindset, this is their normal and Asians must accept their modus operandi.
The other angmoh viewpoint is that they are here to manage China’s rise as a super power. Is that their responsibility? What’s that got to do with them? What has the rise of any country got to do with them that it is their job to manage other countries’ rise as a super power? Are they the chosen race, God’s messenger and army to guard the human race?
But many Asians also have this cock mindset, thinking exactly in this way. It is a given that the Americans are the master, the empire, to control, to lead, to manage every country’s affair, to provoke, instigate, subverge, sanction and conduct regime changes according to their whims and fancies. This is the right thing, the order of things for Asians. Asians must accept the American over lord as the Emperor of this earth.
A mother’s crumbled dream
A little bit of nostalgia of forgotten dreams, or old dreams versus new dreams of mothers. My mother’s big dream was for her children to finish the senior Cambridge Examination, the O level equivalent of today, a Grade 3 would be good enough, and become a ‘tua chye hoo’, literary to become a chief clerk. In those days, every govt department or company had a tua chye hoo, the ‘pau kar leow’ administrator for all paper works. Job opportunities for professionals were rare.
An entrepot did not need those talents. The colonial masters were contented that they had their cheap supplies of coolies and clerks to help them run their administration, and the private sectors to run their trading businesses. It did not take the Chinese community long to realise that the colonial masters were only interested in their own glorification and self interests. The immigrants were there to provide the brawns and shuffle a few papers for their convenience. Every female wanted to be a typist or stenographer or a secretary.
They had big charity drives for donations to build secondary schools and the only university in Southeast Asia for their children. They had bigger dreams. They did not have the privilege of raising funds to help the poor, the sick or the aged. The demands were more urgent and more important. They wanted to produce professionals, engineers, doctors, scientists in all professions.
When we became independent, the opportunities opened up for the locals in every sector and needed professionally trained locals to fill those positions. The mother’s dream changed. They wanted their children to get into university. Their vision went beyond tua chye hoo when they knew what were possible with tertiary education. Forget about tua chye hoo. A graduate meant more than just pride of achievement. It meant a better quality of life, with more material comfort through higher income and more secure jobs.
This mother’s dream continues today. Every mother still wants to see their children get into university and become a graduate. The ancient mothers were ignorant when their ambitious dream was a tua chye hoo. Today’s mothers are in a way ignorant of their dreams. A graduate is not going to make their life that much better. Some may end up as taxi drivers, worst than their parents or grand parents who were non graduates and were tua chye hoo, with a much better lifestyle than the graduates of today, with much better incomes.
Many parents still scrimped and emptied their life savings, downgraded their homes, to send their children overseas when they could not find a place in the local universities. Many regretted when their children refused to return. They forgot that on returning, their children would not be good enough to be a tua chye hoo and may end up you know what. Their talents will never be appreciated unless they happened to be foreign talents. The foreign talents, many are not any better, many worst off than our local talents have taken over their jobs. Some say no, these lousy foreign talents are here to help create jobs. I agree, so that locals can rent out their rooms and service them in hawker stalls and foodcourts, and drive them around in their taxis.
The overseas children of our mothers are doing pretty well overseas. Many could find better jobs and enjoying better quality of living that they could not find if they returned. Why should they return to compete with half baked foreign talents and may end up jobless? The ignorant mothers of today must change their thinking and cast their dreams further ashore. There is no place for their graduate children at home. They need to wonder afar to find their pots of gold. It is better that they remain overseas and stay there.
The familiar dreams of having a graduate and all is fine is no longer true in many cases. It is a crumbled dream.
An entrepot did not need those talents. The colonial masters were contented that they had their cheap supplies of coolies and clerks to help them run their administration, and the private sectors to run their trading businesses. It did not take the Chinese community long to realise that the colonial masters were only interested in their own glorification and self interests. The immigrants were there to provide the brawns and shuffle a few papers for their convenience. Every female wanted to be a typist or stenographer or a secretary.
They had big charity drives for donations to build secondary schools and the only university in Southeast Asia for their children. They had bigger dreams. They did not have the privilege of raising funds to help the poor, the sick or the aged. The demands were more urgent and more important. They wanted to produce professionals, engineers, doctors, scientists in all professions.
When we became independent, the opportunities opened up for the locals in every sector and needed professionally trained locals to fill those positions. The mother’s dream changed. They wanted their children to get into university. Their vision went beyond tua chye hoo when they knew what were possible with tertiary education. Forget about tua chye hoo. A graduate meant more than just pride of achievement. It meant a better quality of life, with more material comfort through higher income and more secure jobs.
This mother’s dream continues today. Every mother still wants to see their children get into university and become a graduate. The ancient mothers were ignorant when their ambitious dream was a tua chye hoo. Today’s mothers are in a way ignorant of their dreams. A graduate is not going to make their life that much better. Some may end up as taxi drivers, worst than their parents or grand parents who were non graduates and were tua chye hoo, with a much better lifestyle than the graduates of today, with much better incomes.
Many parents still scrimped and emptied their life savings, downgraded their homes, to send their children overseas when they could not find a place in the local universities. Many regretted when their children refused to return. They forgot that on returning, their children would not be good enough to be a tua chye hoo and may end up you know what. Their talents will never be appreciated unless they happened to be foreign talents. The foreign talents, many are not any better, many worst off than our local talents have taken over their jobs. Some say no, these lousy foreign talents are here to help create jobs. I agree, so that locals can rent out their rooms and service them in hawker stalls and foodcourts, and drive them around in their taxis.
The overseas children of our mothers are doing pretty well overseas. Many could find better jobs and enjoying better quality of living that they could not find if they returned. Why should they return to compete with half baked foreign talents and may end up jobless? The ignorant mothers of today must change their thinking and cast their dreams further ashore. There is no place for their graduate children at home. They need to wonder afar to find their pots of gold. It is better that they remain overseas and stay there.
The familiar dreams of having a graduate and all is fine is no longer true in many cases. It is a crumbled dream.
12/10/2011
American drone fell off the sky in Iran
An American drone fell off the sky deep inside Iran. This is a pilotless spy plane, RQ 170 Sentinel, which the Americans launched into countries where it collects intelligence photos of military installations. The Americans have been bully the weaker nations by this kind of espionage knowing that those countries cannot bring it down.
The drone only has a ceiling of 50,000 ft and flying at subsonic speed of 500 to 600 knots and should not be too difficult to hit and bring down. The Americans have since stopped such flights over China after several U2s and other makes were brought down in China. Dealing with the Americans, the only language they understand is force.
The Iranians can only stop these spying missions if they can bring the drones down or by blinding its cameras. Firing missiles at the drones may be expensive. Some laser technology to damage the sensors of the camera should be effective and economical.
Oh, the Americans have all the rights to spy on any country by whatever means. They are not infringing or violating the air space or territorial integrity of the countries they spied on. How about Iran, China or Russia doing the same to the Americans, by sending drones over North America?
The Americans are hopping mad with the Chinese now that their aircraft carriers cannot sail freely in the East China Sea. The Chinese can sink them by air or by sea. It is no longer a ‘I can hit you and you cannot hit me’ scenario. Soon the Americans will only deploy their carriers in the waters of Hawaii or nearer their homeland for safety reasons.
China don’t be a pain in the arse. Please tell the Americans that you can hit the carriers and how it can be done, with deadly precision. Please be transparent. Unofficial sources said that the drone in Iran was brought down with the assistance of Chinese technicians who could break the communication quote of the drone and took over control to bring it down.
This is the most fearsome technology that the Americans are still trying to fathom how advanced the Chinese are. Once the Chinese have the computer knowhow, the super computers, which they all have, they could literally take over all the satellites or ICBMs in flight and turn them around to hit targets of their choice. Such a technology is cheaper and more powerful when American weapons can be seized to hit American targets. This is what the Americans are screaming for transparency, to want to know what the Chinese are capable of. Fat hope that the Chinese will be stupid enough to tell them. It’s military secret of the highest order.
The drone only has a ceiling of 50,000 ft and flying at subsonic speed of 500 to 600 knots and should not be too difficult to hit and bring down. The Americans have since stopped such flights over China after several U2s and other makes were brought down in China. Dealing with the Americans, the only language they understand is force.
The Iranians can only stop these spying missions if they can bring the drones down or by blinding its cameras. Firing missiles at the drones may be expensive. Some laser technology to damage the sensors of the camera should be effective and economical.
Oh, the Americans have all the rights to spy on any country by whatever means. They are not infringing or violating the air space or territorial integrity of the countries they spied on. How about Iran, China or Russia doing the same to the Americans, by sending drones over North America?
The Americans are hopping mad with the Chinese now that their aircraft carriers cannot sail freely in the East China Sea. The Chinese can sink them by air or by sea. It is no longer a ‘I can hit you and you cannot hit me’ scenario. Soon the Americans will only deploy their carriers in the waters of Hawaii or nearer their homeland for safety reasons.
China don’t be a pain in the arse. Please tell the Americans that you can hit the carriers and how it can be done, with deadly precision. Please be transparent. Unofficial sources said that the drone in Iran was brought down with the assistance of Chinese technicians who could break the communication quote of the drone and took over control to bring it down.
This is the most fearsome technology that the Americans are still trying to fathom how advanced the Chinese are. Once the Chinese have the computer knowhow, the super computers, which they all have, they could literally take over all the satellites or ICBMs in flight and turn them around to hit targets of their choice. Such a technology is cheaper and more powerful when American weapons can be seized to hit American targets. This is what the Americans are screaming for transparency, to want to know what the Chinese are capable of. Fat hope that the Chinese will be stupid enough to tell them. It’s military secret of the highest order.
Don’t come back
The recent measures to curb property prices may offer some relief to Singaporeans that are still homeless because of the screwed up policies of recent years. It may be helpful to some but many are still left in the lurch, particularly the young professionals who were booted out of public housing by silly regulations that decreed they are rich enough to be skinned by the private property developers.
There are many such young professionals, highly qualified and living abroad and may want to return home. My advice to them is don’t come back. The opportunity cost is too high and so is the ransom to start life in their home country.
For a start, being highly skilled professionals, they would not be allowed to buy a public flat which would still cost them at least half a million bucks. They are expected to cough out at least a million to get a shitty little mickey mouse flat from the private developers. By the time they ended paying up in 30 years, it would have cost them $2m, just for a miserable little space to live in.
And the cost of a car, a cheap one, would be a hundred k. Being professionals, don’t expect them to live a life of the average Singaporeans and travel in MRT or buses. They are high earners and wanted a better life. Otherwise what is the point of their training, skills and qualifications?
The options for not returning, with three or four hundred k, they could get a very decent landed homes in any of the developed countries, like US, UK or Australia. A big car will not even cost half the COE they have to pay here, and can use for as long as they want. Funny, the cost of living in these countries are now cheaper than this paradise they would want to call home. And they could even command a higher or better income than returning to compete with foreigners with better comparative advantages.
They have all the advantages to remain PRs or even take up foreign citizenship and live a better life elsewhere, with lower cost of living than paying a huge ransom for a poorer quality of life here. It just does not make sense anymore for highly qualified young professionals to come home.
Don’t come back unless you don’t mind being robbed of all your savings and incomes.
There are many such young professionals, highly qualified and living abroad and may want to return home. My advice to them is don’t come back. The opportunity cost is too high and so is the ransom to start life in their home country.
For a start, being highly skilled professionals, they would not be allowed to buy a public flat which would still cost them at least half a million bucks. They are expected to cough out at least a million to get a shitty little mickey mouse flat from the private developers. By the time they ended paying up in 30 years, it would have cost them $2m, just for a miserable little space to live in.
And the cost of a car, a cheap one, would be a hundred k. Being professionals, don’t expect them to live a life of the average Singaporeans and travel in MRT or buses. They are high earners and wanted a better life. Otherwise what is the point of their training, skills and qualifications?
The options for not returning, with three or four hundred k, they could get a very decent landed homes in any of the developed countries, like US, UK or Australia. A big car will not even cost half the COE they have to pay here, and can use for as long as they want. Funny, the cost of living in these countries are now cheaper than this paradise they would want to call home. And they could even command a higher or better income than returning to compete with foreigners with better comparative advantages.
They have all the advantages to remain PRs or even take up foreign citizenship and live a better life elsewhere, with lower cost of living than paying a huge ransom for a poorer quality of life here. It just does not make sense anymore for highly qualified young professionals to come home.
Don’t come back unless you don’t mind being robbed of all your savings and incomes.
12/09/2011
A small increase every now and then
The Govt’s policy of having small increases every now and then is working quite well so far. It is easier to boil a frog that way without creating any alarm.
What about small cuts every now and then instead of a big and painful cut at one go? No, no, I am not talking about salary cut. That one cannot cut under whatever circumstances. The consequences are much more serious and severe.
I did write about minus one zero from our dollar notes. Indonesia has decided to minus 3 zeros from the rupiah notes. It is high time that we start to cut one zero from our dollar notes. We must not wait too long and have to cut 3 zeros at one go.
Small cuts are less painful and more palatable. The only thing is that people no longer can call themselves millionaires by owning a HDB flat. The Indonesians must be tired of being billionaires for too long. Our millionaires could turn nasty soon when they have to make ends meet as their HDB flats and savings in the CPF are untouchable and really not worth that much.
We are a country with the most millionaires but with many living from hands to mouth while smiling at their CPF statements. Come to think of it, better not to cut the one zero. It is good to believe one is a millionaire.
Yesterday's millionaires drove big Mercedes and stayed in big landed properties and live a different lifestyle.
What about small cuts every now and then instead of a big and painful cut at one go? No, no, I am not talking about salary cut. That one cannot cut under whatever circumstances. The consequences are much more serious and severe.
I did write about minus one zero from our dollar notes. Indonesia has decided to minus 3 zeros from the rupiah notes. It is high time that we start to cut one zero from our dollar notes. We must not wait too long and have to cut 3 zeros at one go.
Small cuts are less painful and more palatable. The only thing is that people no longer can call themselves millionaires by owning a HDB flat. The Indonesians must be tired of being billionaires for too long. Our millionaires could turn nasty soon when they have to make ends meet as their HDB flats and savings in the CPF are untouchable and really not worth that much.
We are a country with the most millionaires but with many living from hands to mouth while smiling at their CPF statements. Come to think of it, better not to cut the one zero. It is good to believe one is a millionaire.
Yesterday's millionaires drove big Mercedes and stayed in big landed properties and live a different lifestyle.
When is George Yeo going to be appointed Chairman?
The affable George Yeo, the intellectual of the PAP, is quitting politics for good with his stepping down as advisor to the Aljunid GRC. Though he is still very comfortable financially, and has a life long million dollar pension, it will be a waste of his talent if he is not appointed to some of the big jobs when talent is so short here.
Many yodas have been recycled year after year and holding many chairmanship positions. Some even being recalled regularly when the lack of talent younger generation CEOs were found hopeless in crisis management. George’s experience should come in very handy especially when he is still a young man.
When is George Yeo going to be appointed as Chairman of some GLC or Temasek companies?
Many yodas have been recycled year after year and holding many chairmanship positions. Some even being recalled regularly when the lack of talent younger generation CEOs were found hopeless in crisis management. George’s experience should come in very handy especially when he is still a young man.
When is George Yeo going to be appointed as Chairman of some GLC or Temasek companies?
We also contribute to your economy….
Might as well say we are here to help you Singaporeans. Without us foreign talents, Singapore will go down to the third world. Then I will say, good, then you will wait for us at your door, in your third world, to welcome us.
We have heard some foreigners are unhappy with the property curbs. And they are claiming credit to help our economy and demanding that they should be treated favourably. Now where did these foreigners got this silly idea from, that they are here to help us and we owe them a living?
Did they not forget that it is here that they have the best opportunity to earn a decent living, some even making it rich, and being very well treated? They should be kneeling down on both knees and say thank you to the Sin govt. The average Singaporeans are not too keen for their presence and would want to get rid of them soonest possible. If they can find a better place elsewhere, or can do better elsewhere, would they be here?
Time to dispel this silly myth that the foreigners are here to help us and Sinkies have to go down on their knees to serve them, yes masters! Our apologies that you are disappointed with us. Please go somewhere that you don't have to be disappointed. Maybe can go home first, where you won't be disappointed.
We have heard some foreigners are unhappy with the property curbs. And they are claiming credit to help our economy and demanding that they should be treated favourably. Now where did these foreigners got this silly idea from, that they are here to help us and we owe them a living?
Did they not forget that it is here that they have the best opportunity to earn a decent living, some even making it rich, and being very well treated? They should be kneeling down on both knees and say thank you to the Sin govt. The average Singaporeans are not too keen for their presence and would want to get rid of them soonest possible. If they can find a better place elsewhere, or can do better elsewhere, would they be here?
Time to dispel this silly myth that the foreigners are here to help us and Sinkies have to go down on their knees to serve them, yes masters! Our apologies that you are disappointed with us. Please go somewhere that you don't have to be disappointed. Maybe can go home first, where you won't be disappointed.
A right policy will be well accepted
Has the govt came out with any policy recently that is tough but willingly accepted by all parties, including those that were targeted by the policy? The latest curb on property speculation is one of those rare policies that can be classified as tough and good. The affected parties, particularly the foreign speculators knew that the game is up. They have no rights to complain, neither do they have the right to speculate properties at the expense of the citizens. That is another story of a flawed policy.
The developers quietly resigned to the fact that it has to come. Anyway they have built in all the profit margin and the only thing that would affect them is lesser profit. They are not going to lose money or any sleep. They had a good time over the last 10 years with very good profit. So it is time for a break and a deserving holiday.
Local speculators may grumble a little but they would find other places to speculate and make money with their money. Some interest and money may go back to shore up a dying stock market.
For Singaporeans who are genuine buyers of a home, the relief is welcomed though a bit late. Better late than never. But more needs to be done to protect them from paying a ransom for a home that they need simply to live.
As for the rest of the Singaporeans, the only thing that may matter is that the paper gain from their properties will slide down a little, but of no significance. And some may change tack and instead of property prices are affordable, they may claim that property prices are cheap. Both positions are simply silly as the base has changed.
Property prices are still far too high for living and still not affordable to many. It is only cheap for the speculators. The illusion of wealth of living in a $1m flat is just an illusion. When the flat costs $30k, $300k or $1m, if it is the only asset to live in, it is better to be cheaper than more expensive. And don’t have to worry about paying higher property tax that is based on rental income that is irrelevant to the ordinary citizens.
There is a need for more pro people policies and policies that would not draw curses at the policy makers. This is one such policy that no one will curse at Boon Wan other than a few late speculators.
The developers quietly resigned to the fact that it has to come. Anyway they have built in all the profit margin and the only thing that would affect them is lesser profit. They are not going to lose money or any sleep. They had a good time over the last 10 years with very good profit. So it is time for a break and a deserving holiday.
Local speculators may grumble a little but they would find other places to speculate and make money with their money. Some interest and money may go back to shore up a dying stock market.
For Singaporeans who are genuine buyers of a home, the relief is welcomed though a bit late. Better late than never. But more needs to be done to protect them from paying a ransom for a home that they need simply to live.
As for the rest of the Singaporeans, the only thing that may matter is that the paper gain from their properties will slide down a little, but of no significance. And some may change tack and instead of property prices are affordable, they may claim that property prices are cheap. Both positions are simply silly as the base has changed.
Property prices are still far too high for living and still not affordable to many. It is only cheap for the speculators. The illusion of wealth of living in a $1m flat is just an illusion. When the flat costs $30k, $300k or $1m, if it is the only asset to live in, it is better to be cheaper than more expensive. And don’t have to worry about paying higher property tax that is based on rental income that is irrelevant to the ordinary citizens.
There is a need for more pro people policies and policies that would not draw curses at the policy makers. This is one such policy that no one will curse at Boon Wan other than a few late speculators.
12/08/2011
Getting to be more like Malaysia
Several years back there was a property boom in Johore. The developers built and built, huge estates of landed properties for sale at a fraction of the price in Singapore. See also salivate. Many Singaporeans went in to buy and buy. Then the citizens complained. Singaporeans buying up everything and pushing up the cost of living.
Suddenly new regulations came out on ownership and stamp duties. The property boom collapsed as Singaporeans could not buy anymore. Property developers also went kaput.
Familiar story that is being repeated here. Why let the situation gets so bad before doing something drastic?
Suddenly new regulations came out on ownership and stamp duties. The property boom collapsed as Singaporeans could not buy anymore. Property developers also went kaput.
Familiar story that is being repeated here. Why let the situation gets so bad before doing something drastic?
China must prepare for war
When the mad man is broke, and agitating for war, China has to be more alert and prepare for war. After starting wars and fighting wars for the last 5 decades, and impoverished a great nation, the richest nation the world has ever seen, America is now under a mountain of debt. And the debt keeps piling up daily with more expenses for war. And war is the only business that America is hoping to keep its economy running.
Imagine if America had not embarked on this unending adventurism and destruction and killing of other nationals, America would still be the richest and most powerful nation on earth. It is still the most powerful nation on earth, but no longer the richest, maybe looking to be the poorest. But they are optimistic, and leaders of their allied countries are saying kind words to them. So are the Americans themselves, that they will come back stronger and richer.
The stark reality is saying otherwise. For instead of rebuilding its economy, it is still relentlessly pursuing wars everywhere. The next target, China, is going to be very costly. It is still hammering at China’s door. It is asking China to tell them all its military secrets. Is America willing to tell China all its military secrets?
It continues to pressure its crony allies to provoke China, in the East China Sea, in the South China Sea. Chinese fishermen are fair game to be arrested by the Navies of Japan, South Korea and the Philippines.
Hu Jin Tao has responded with unflinching words, that China must prepare for war. Its naval forces must armed and equipped itself for imminent war with the Empire. The Empire may continue to send its cronies to provoke China. There must be a time when the limit is crossed and China needs to kick asses. As a major power, it cannot be provoked or harassed continuously by pesky little countries. China must carry the big stick and use it when the pests come too close.
And it is a matter of time before China tells the US to get lost and stand up to fight for its rights. It is very important that before it does so, that its military is strong enough to take on the Empire. It has to, and it is only a matter of when.
Imagine if America had not embarked on this unending adventurism and destruction and killing of other nationals, America would still be the richest and most powerful nation on earth. It is still the most powerful nation on earth, but no longer the richest, maybe looking to be the poorest. But they are optimistic, and leaders of their allied countries are saying kind words to them. So are the Americans themselves, that they will come back stronger and richer.
The stark reality is saying otherwise. For instead of rebuilding its economy, it is still relentlessly pursuing wars everywhere. The next target, China, is going to be very costly. It is still hammering at China’s door. It is asking China to tell them all its military secrets. Is America willing to tell China all its military secrets?
It continues to pressure its crony allies to provoke China, in the East China Sea, in the South China Sea. Chinese fishermen are fair game to be arrested by the Navies of Japan, South Korea and the Philippines.
Hu Jin Tao has responded with unflinching words, that China must prepare for war. Its naval forces must armed and equipped itself for imminent war with the Empire. The Empire may continue to send its cronies to provoke China. There must be a time when the limit is crossed and China needs to kick asses. As a major power, it cannot be provoked or harassed continuously by pesky little countries. China must carry the big stick and use it when the pests come too close.
And it is a matter of time before China tells the US to get lost and stand up to fight for its rights. It is very important that before it does so, that its military is strong enough to take on the Empire. It has to, and it is only a matter of when.
Leave it to the Malaysians
As I was pondering over how Iskandar Economic Zone could rival Singapore and turn Johore into a blooming state with all the vibrancy that this island wants, the Malaysian govt just threw a spanner into the works. Instead of facilitating travel between the two states a breeze, they are going to raise toll fees into and out of Johore. And it is reported that the increase is 6 times the current rate. There you have it.
So, will more Singaporeans go over? Or will the cost of doing business going to be cheaper? Actually still cheaper because of the exchange rate. But it won’t be long when more and more cost are added into it.
So, will more Singaporeans go over? Or will the cost of doing business going to be cheaper? Actually still cheaper because of the exchange rate. But it won’t be long when more and more cost are added into it.
Are we chasing the high net worth foreigners away?
The best indicator of whether more foreigners are coming is the MRT. Just take the train regularly and you can feel and sense whether there are more or less foreigners in the country. These few weeks I have noticed an exceptionally higher presence of foreigners in the train. They are all over you, front, back, left and right. And the whole train smells.
I only wish the ladies will wear a little more fragrance to make the air more pleasant. Maybe they have given up hope as the smell is so over powering that their expensive fragrance may lose out to the competition.
And yes, there are more foreigners, the foreigner workers, not the foreign PMETs. They used to be a lot of time. But lately the trend is changing.
And with the surprise this morning, yes, surprise, hike in stamp fees for property speculations, the high end foreigners may also move out. No more money to make from the Sinkies. Yes, whenever some speculators, local or foreigners make money from speculating properties, someone loses. Who is that someone? No prize for getting the right answer.
The net losers in the property speculation game are the Singaporeans. Other than the property speculators, there is another big winner, or two actually. The developers and one more, this one cannot mention mah. Can only guess.
Why do we want more foreigners to speculate properties and in the process Singaporeans ended the big loser, holding the baby? The same rationale applies to the stock market. Why allow all the big funds to come here and clean up the market with their super computers? Whose money is being swept away? What is the net gain for their presence? Or what is the net loss for their presence, big funds speculating in the stock market and the rich foreigners speculating in the property market?
Oh yes, more vibrancy, more oomphs, a vibrant financial centre. Who is paying for it? I simple minded, only want to know at the end of the day, is it a gain or a loss to the country and people?
I only wish the ladies will wear a little more fragrance to make the air more pleasant. Maybe they have given up hope as the smell is so over powering that their expensive fragrance may lose out to the competition.
And yes, there are more foreigners, the foreigner workers, not the foreign PMETs. They used to be a lot of time. But lately the trend is changing.
And with the surprise this morning, yes, surprise, hike in stamp fees for property speculations, the high end foreigners may also move out. No more money to make from the Sinkies. Yes, whenever some speculators, local or foreigners make money from speculating properties, someone loses. Who is that someone? No prize for getting the right answer.
The net losers in the property speculation game are the Singaporeans. Other than the property speculators, there is another big winner, or two actually. The developers and one more, this one cannot mention mah. Can only guess.
Why do we want more foreigners to speculate properties and in the process Singaporeans ended the big loser, holding the baby? The same rationale applies to the stock market. Why allow all the big funds to come here and clean up the market with their super computers? Whose money is being swept away? What is the net gain for their presence? Or what is the net loss for their presence, big funds speculating in the stock market and the rich foreigners speculating in the property market?
Oh yes, more vibrancy, more oomphs, a vibrant financial centre. Who is paying for it? I simple minded, only want to know at the end of the day, is it a gain or a loss to the country and people?
12/07/2011
A dull Sinkie joke
This joke will always make a come back whenever there is a price hike in public service. For so many years whenever the public transport operators announced a fare increase, you will hear Sinkies saying it is okay if the service is improved. And if this logic holds true, the service quality of our public transport must be better than any premium services in the whole world. But the sad truth is that the service quality will remain the same everytime. Any improvement will be cosmetic and will not last more than a few weeks.
Now we are looking at the impending taxi fare hike next week and some Sinkies are already bring this joke back. They would not mind if the fare hike will also mean better service. And this joke will be the joke of the town until next week, then forgotten till the next fare hike.
When has any fare hike or salary increase brought about improvement in the quality of services? Even when people got million dollar pay hike, the quality of service is still the same or may even get worst. Sinkies better get use to this joke and acknowledge that it is just a joke.
The only one that is serious in making people pay more for better services or quality is Vivian Balakrishnan. Recently he is calling for the upgrading of professionalism in hawkers. See, improve, be more professional, these must come first. Then when the quality and services are better, the announcement for higher prices will be accepted willingly. This is a big deviation from the norm, that high prices mean high quality.
But this time the official reason is higher cost. Nothing to do with quality of service. And the increasing demand of taxi services due to increasing population, which should translate into more income, is not even talked about.
I must say that Vivian got it right this time. Improve first and price hike later. As for the dull Sinkie joke, I am wondering whether the joke is dull or the Sinkies are dull. I know Sinkies are famed for being daft.
Now we are looking at the impending taxi fare hike next week and some Sinkies are already bring this joke back. They would not mind if the fare hike will also mean better service. And this joke will be the joke of the town until next week, then forgotten till the next fare hike.
When has any fare hike or salary increase brought about improvement in the quality of services? Even when people got million dollar pay hike, the quality of service is still the same or may even get worst. Sinkies better get use to this joke and acknowledge that it is just a joke.
The only one that is serious in making people pay more for better services or quality is Vivian Balakrishnan. Recently he is calling for the upgrading of professionalism in hawkers. See, improve, be more professional, these must come first. Then when the quality and services are better, the announcement for higher prices will be accepted willingly. This is a big deviation from the norm, that high prices mean high quality.
But this time the official reason is higher cost. Nothing to do with quality of service. And the increasing demand of taxi services due to increasing population, which should translate into more income, is not even talked about.
I must say that Vivian got it right this time. Improve first and price hike later. As for the dull Sinkie joke, I am wondering whether the joke is dull or the Sinkies are dull. I know Sinkies are famed for being daft.
Taxi fare hike hots up
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.
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.
12/06/2011
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.
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