I was curious when the police allowed the rally in support of Anwar at the High Court. It could be a very serious demo if Anwar was found guilty. Now that the truth is out, very likely the verdict was already known and the goodwill for approving the rally was the final touches to a happy ending to a bad saga.
The opposition should appreciate this new openness and freedom they are enjoying under Najib and may they move forward towards a more inclusive society minus the vibes and acrimony of the Mahathir era. They could bury the past and be less combative and abusive towards each other.
Anwar can then go and contest the general election as a new man with a new ethos. Hopefully less of the bad blood will flow this time. What I don’t understand are the few bombs that exploded. Someone is still unhappy and did not want the party to go on. Someone wanted the bitching and fighting to continue, I guess.
1/09/2012
Yesterday’s mantra, today’s high falutin
How things can change overnight. Many great arguments, uncontested and unchallenged, were elevated to become the daily mantras of Sinkies. Overnight, after a heavy storm, the dull Sinkie minds seem to have brightened after the rain water flooded them. Now they are calling all the mantras high falutins. They don’t believe in any of them anymore.
The first to fall is the high salary for super talent. This brought along the demise of high salary to prevent corruption mantra. This is amazing. As they said, real gold is not afraid of fire. But gold plating is a different thing altogether. How many high mantras are going the high falutin way?
Maybe the Sinkies are going crazy and the old mantras are still valid but the Sinkies could not appreciate how valuable they were.
The first to fall is the high salary for super talent. This brought along the demise of high salary to prevent corruption mantra. This is amazing. As they said, real gold is not afraid of fire. But gold plating is a different thing altogether. How many high mantras are going the high falutin way?
Maybe the Sinkies are going crazy and the old mantras are still valid but the Sinkies could not appreciate how valuable they were.
Welcome to the Third World
Is this what is happening to Singapore? Or is it just a case of a little bad govt for the testing to remind the Sinkies not to pray pray with what they already got?
For nearly 30 years, the train was running quite near to clockwork precision or as good as you can get. Any disruption was minor and not something to be expected. Over the last few weeks, train faults, delays, slow down etc etc were a daily affair and is now expected. A trouble free ride is something that one can count to be lucky to experience.
What the shit is going on? It looks like the whole system has been allowed to decay and finally everything is breaking down, irreparable. Or all the parts have reached their shelf life and either the whole system be replaced or living with a rackety train system is the new normal?
A crisis like this needs a superman to appear at different places at any time to get things done and get going. Are Sinkies ready to live with slow mass rapid transport? I am seeing many are already readjusting their expectation of what a mass rapid transport system is all about, a bit slow, frequent interruptions and delays, long waiting time, and a crowded platform and train whenever there is a disruption.
The slide down to Third World is moving faster by the day.
For nearly 30 years, the train was running quite near to clockwork precision or as good as you can get. Any disruption was minor and not something to be expected. Over the last few weeks, train faults, delays, slow down etc etc were a daily affair and is now expected. A trouble free ride is something that one can count to be lucky to experience.
What the shit is going on? It looks like the whole system has been allowed to decay and finally everything is breaking down, irreparable. Or all the parts have reached their shelf life and either the whole system be replaced or living with a rackety train system is the new normal?
A crisis like this needs a superman to appear at different places at any time to get things done and get going. Are Sinkies ready to live with slow mass rapid transport? I am seeing many are already readjusting their expectation of what a mass rapid transport system is all about, a bit slow, frequent interruptions and delays, long waiting time, and a crowded platform and train whenever there is a disruption.
The slide down to Third World is moving faster by the day.
The new corporate raiders
Soros and his company were once the typical corporate raiders the commercial world was used to. They have been superceded by a new brand of corporate raiders that are running and ruining many corporations to bankruptcies. The new corporate raiders are the senior management of corporations, hired to run the corporations but ended up raiding the corporations.
The lack of accountability and the dilution of ownership of the majority small shareholders who could not cast their votes together to prevent the corporations from be robbed from beneath their noses is happening to all big organisations that are public listed. The new owners are actually the senior management working hand in glove with the board of directors.
With full power and authority in their hands, the two groups pay themselves crazy with all kinds of justifications, through share options, bonuses, golden handshakes, severance pay, and perks. Can’t imagine anyone could contribute so much to earn $100k a month, while some of these turkeys conveniently helped themselves with a million or more a month. Would these turkeys be able to tell how productive they are to earn their keeps? Imagine paying one $10m a year which will add up to $100m in 10 years!
Oh, they made decisions that are worth billions. True. But the billions are not only OPM, they could lose billions and not having to pay a single cent for it and still collect their ransoms. It is a disproportionate reward system where the turkeys keep filling up their pockets with the funds of the organisation no matter if the organisation is making or losing money. They could even cook the numbers to feast themselves. And they pay themselves over the moon when there is a little profit, genuine or fictitious. And when they lose millions or billions, they will argue that the organisation could lose more if not of their expertise and contributions. It is a head they win and tail you lose formula. The security guards of Fort Knox should be paid millions too.
The real owners of the organisations have been robbed daily, under bright daylight by these corporate raiders all across the world, using the western model of operation and system. Never have employees been allowed to dip into the coffers of organisations at will, and help themselves to as much as they want.
So British PM David Cameron is trying to curb these abuses, to return control of organisations back to their rightful owners, the minority shareholders. The same formula can be applied to running countries when rogues took over the govt. The citizens, the real owners of the countries would lose all control of their countries to the minority of rulers who just help themselves to the wealth of the nations as if it belongs to them.
Would David Cameron be successful and right this corporate corruption and change the ethos of corporate governance and the reward system?
The lack of accountability and the dilution of ownership of the majority small shareholders who could not cast their votes together to prevent the corporations from be robbed from beneath their noses is happening to all big organisations that are public listed. The new owners are actually the senior management working hand in glove with the board of directors.
With full power and authority in their hands, the two groups pay themselves crazy with all kinds of justifications, through share options, bonuses, golden handshakes, severance pay, and perks. Can’t imagine anyone could contribute so much to earn $100k a month, while some of these turkeys conveniently helped themselves with a million or more a month. Would these turkeys be able to tell how productive they are to earn their keeps? Imagine paying one $10m a year which will add up to $100m in 10 years!
Oh, they made decisions that are worth billions. True. But the billions are not only OPM, they could lose billions and not having to pay a single cent for it and still collect their ransoms. It is a disproportionate reward system where the turkeys keep filling up their pockets with the funds of the organisation no matter if the organisation is making or losing money. They could even cook the numbers to feast themselves. And they pay themselves over the moon when there is a little profit, genuine or fictitious. And when they lose millions or billions, they will argue that the organisation could lose more if not of their expertise and contributions. It is a head they win and tail you lose formula. The security guards of Fort Knox should be paid millions too.
The real owners of the organisations have been robbed daily, under bright daylight by these corporate raiders all across the world, using the western model of operation and system. Never have employees been allowed to dip into the coffers of organisations at will, and help themselves to as much as they want.
So British PM David Cameron is trying to curb these abuses, to return control of organisations back to their rightful owners, the minority shareholders. The same formula can be applied to running countries when rogues took over the govt. The citizens, the real owners of the countries would lose all control of their countries to the minority of rulers who just help themselves to the wealth of the nations as if it belongs to them.
Would David Cameron be successful and right this corporate corruption and change the ethos of corporate governance and the reward system?
1/08/2012
Obama fighting for more money
He told the Americans that this is a tough battle. He needs money, and more money. And he has to fight Congress for it. No, he is not fighting for his own pay. If he does, I would recommend him the Singapore formula and the Singapore system. Just tell Congress that there is this wonderful model that works, and it pays the head of govt a basic of $3m with 27.5 months of variable bonuses as backup in case he performs well in his job.
He can then submit it to Congress to do all the cuts Congress wants. A 50% or 70% cut will still find him richer than the miserable $600k he is getting now. Unfortunately the American Congress is not so easy to deal with. There are opposition camps, there are also many checks and balances, above which, no one is allowed to write his own pay check or approve them.
My apologies, I digressed. Obama is fighting for more money for the American soldiers to conduct wars everywhere. As an American President, the top responsibility and the most important job is to conduct wars to feed the war industry and the soldiers. Nothing is more important than this. Not even fighting for his own pay rise. Anyway, his pay will only be decided by Congress and even if he admired the Singapore system and wanted it, he would not be able to do so.
It is a different culture. Asian culture is such that everyone is presumed to be corrupt. To be corrupt is in their blood. The only way to protect a guy from being corrupt is to legalise his payouts at whatever amount he thinks it will be needed to prevent him from being corrupt.
Can’t imagine Obama or any American President go in front of Congress or the American people and demand to be paid in millions to keep him from being corrupt. The Americans will laugh themselves to death before they could even put it to a vote. That is how strange their culture is. They don’t believe in corruption and will not pay for corruption.
He can then submit it to Congress to do all the cuts Congress wants. A 50% or 70% cut will still find him richer than the miserable $600k he is getting now. Unfortunately the American Congress is not so easy to deal with. There are opposition camps, there are also many checks and balances, above which, no one is allowed to write his own pay check or approve them.
My apologies, I digressed. Obama is fighting for more money for the American soldiers to conduct wars everywhere. As an American President, the top responsibility and the most important job is to conduct wars to feed the war industry and the soldiers. Nothing is more important than this. Not even fighting for his own pay rise. Anyway, his pay will only be decided by Congress and even if he admired the Singapore system and wanted it, he would not be able to do so.
It is a different culture. Asian culture is such that everyone is presumed to be corrupt. To be corrupt is in their blood. The only way to protect a guy from being corrupt is to legalise his payouts at whatever amount he thinks it will be needed to prevent him from being corrupt.
Can’t imagine Obama or any American President go in front of Congress or the American people and demand to be paid in millions to keep him from being corrupt. The Americans will laugh themselves to death before they could even put it to a vote. That is how strange their culture is. They don’t believe in corruption and will not pay for corruption.
Who should public institutions serve?
This is a non issue for commercial enterprises selling hamburgers, shirts, mobile phones or chicken rice. Their primary preoccupation is to serve their customers, make them happy with their services and products to boost their bottom lines. And they can only boost their bottom lines if the customers are satisfied with their services.
None of these enterprises can hope to compete and exist in the market if their only interest is profit to please the shareholders. And the shareholders know too, that without the customers, they can forget about profits and the business.
In a monopoly, things get a little hazy. They can dump the customers, cut corners, provide substandard services and products and still get away with it. The customers have no choice. And they can blatantly carry the shareholder’s interest around to spank the customers. ‘We are answerable to the shareholders you know!’
If they are selling IPad or IPhone that are in demand, and the customers die die must have, no issue. Willing buyer willing seller, even if it is a monopoly, they can still have their cake and eat it. What if it is a public service like transportation? I can see eyes popping out now.
A public transport company has to serve the customers and the shareholders and also the national interest. Let me take the first two first. Between the shareholder’s interest and the interest of the customers, which is more important? Silly me to ask. If it is a monopoly, they can screw the customers and tell them they need to make profits for the shareholders first. Customers come second or third. What can the customers do? This is the reality of life, just lump it.
What if the money to build the facilities and the business first came from the customers, indirectly through the public coffer? Now this will make the customers angry for sure. Using public money to start a monopoly business and tell the public that the first priority is to serve the shareholders.
Do they care if the customers are transported to their destinations fast, comfortable and safe? Can any of these be compromised? You tell me.
The more important role of public transportation is to provide an efficient transport system to lubricate the economy and social activities. The economy depends on the efficient and safe transportation of people and workers all over the island, for economic and non economic activities. Failing to do this is undermining the economy and the social fabric of the society. A country can be crippled by a major breakdown of public transportation. Can a transport company carry the shareholder’s interest on its head and say, my shareholder’s interest comes first, the train can be slow, uncomfortable, unsafe, these are secondary? Can a transport company price the fares so high that people find it too expensive even to travel, or to go to work?
The top priorities of a public transport company, started with public money, must be national interest, the moving of people safely and efficiently, at a reasonable cost, and also the comfort and interest of the commuters. The shareholder’s profit must come last, and incidental to providing a good and efficient service. The shareholder’s interest cannot be the first and top most priority of a public monopoly. But this is just my opinion. I may be wrong or I am wrong. The shareholder’s interest is all that is.
And don’t forget the uniquely Singapore logic that it can only be efficient if it is privatised. No wonder non privatised institutions are so inefficient.
None of these enterprises can hope to compete and exist in the market if their only interest is profit to please the shareholders. And the shareholders know too, that without the customers, they can forget about profits and the business.
In a monopoly, things get a little hazy. They can dump the customers, cut corners, provide substandard services and products and still get away with it. The customers have no choice. And they can blatantly carry the shareholder’s interest around to spank the customers. ‘We are answerable to the shareholders you know!’
If they are selling IPad or IPhone that are in demand, and the customers die die must have, no issue. Willing buyer willing seller, even if it is a monopoly, they can still have their cake and eat it. What if it is a public service like transportation? I can see eyes popping out now.
A public transport company has to serve the customers and the shareholders and also the national interest. Let me take the first two first. Between the shareholder’s interest and the interest of the customers, which is more important? Silly me to ask. If it is a monopoly, they can screw the customers and tell them they need to make profits for the shareholders first. Customers come second or third. What can the customers do? This is the reality of life, just lump it.
What if the money to build the facilities and the business first came from the customers, indirectly through the public coffer? Now this will make the customers angry for sure. Using public money to start a monopoly business and tell the public that the first priority is to serve the shareholders.
Do they care if the customers are transported to their destinations fast, comfortable and safe? Can any of these be compromised? You tell me.
The more important role of public transportation is to provide an efficient transport system to lubricate the economy and social activities. The economy depends on the efficient and safe transportation of people and workers all over the island, for economic and non economic activities. Failing to do this is undermining the economy and the social fabric of the society. A country can be crippled by a major breakdown of public transportation. Can a transport company carry the shareholder’s interest on its head and say, my shareholder’s interest comes first, the train can be slow, uncomfortable, unsafe, these are secondary? Can a transport company price the fares so high that people find it too expensive even to travel, or to go to work?
The top priorities of a public transport company, started with public money, must be national interest, the moving of people safely and efficiently, at a reasonable cost, and also the comfort and interest of the commuters. The shareholder’s profit must come last, and incidental to providing a good and efficient service. The shareholder’s interest cannot be the first and top most priority of a public monopoly. But this is just my opinion. I may be wrong or I am wrong. The shareholder’s interest is all that is.
And don’t forget the uniquely Singapore logic that it can only be efficient if it is privatised. No wonder non privatised institutions are so inefficient.
1/07/2012
I was overwhelmed
The events that were unfolding over the last two days must have numbed many Sinkies. After reading all the information laid out on the salaries of ministers, I am still in a state of shock.
The GE was like a minor earthquake of 5 in the Richter scale followed by an after shock in the Presidential Election. This revelation is like a 7. There will be bigger after shocks, and maybe a tsunami over the horizon. Things are happening very fast. The People’s perception and support for the ruling party is going to take a hit.
As an observer of political events, the GE was a small shake up and a little warning of worst to come. Seven months past, other than Boon Wan, who seems to be sensing something wrong and hastily trying to do some damage control, the rest do not seem to see any urgency for change. The 7 months of grace period to regain lost ground were wasted in a way. The expected hikes in fees and charges are flowing in predictably and in orderly fashion. Even minimum sums in CPF were raised as a non event. There is absolutely no need to consult the people, taking the people for granted.
Now this huge earthquake is going to shaken and loosen every foundation there is, and if a tsunami is to strike, it is going to be a waste land like Fukushima. I am still wondering how this salary thing is going to impact the ruling party and whether they can weather this perfect storm. At the moment there is no answer to the shocking revelation. What was being reported, written in blogs, are just the tip of an iceberg. The true sentiment of the people is simmering inside and would not come out in full, at least for the moment. There are still too much restraints and refrains from telling the truth. The PAP will never hear the truth.
What is more troubling is that there are some who are praising the Salary Recommendations. This will give the PAP a false sense of confidence that the prescription by the Review Committee is the solution they are waiting for. The more congratulatory support for the recommendations the more delusion they will get into. When the imperial physicians diagnosed that the emperor was only having measles instead of syphilis, there was a big sigh of relief and self congratulations. The physicians were brilliant. And the prescriptions were equally brilliant, just a few days of panadol and Vitamin C and the emperor will be back to good health. The diagnosis was what they wanted to hear and the prescription was what they wanted, and the imperial physicians did what they thought was best for everyone, including the emperor and their own good.
Is there any more goodwill left, any more political capital left, for the ruling party to survive this crisis, or I am just imagining things? What crisis? There will be a resurrection! Would the party be given a new lease of life after this storm and come out stronger? Or this is just a tropical storm and nothing more to it, and things will be back to normal in no time, with bright and sunny sky? Those who wanted the diagnosis to be measles would tell you that this is just a tropical storm and will blow over. Let’s hope they will be right again.
As a political observer, my crystal ball is revealing a different story.
The GE was like a minor earthquake of 5 in the Richter scale followed by an after shock in the Presidential Election. This revelation is like a 7. There will be bigger after shocks, and maybe a tsunami over the horizon. Things are happening very fast. The People’s perception and support for the ruling party is going to take a hit.
As an observer of political events, the GE was a small shake up and a little warning of worst to come. Seven months past, other than Boon Wan, who seems to be sensing something wrong and hastily trying to do some damage control, the rest do not seem to see any urgency for change. The 7 months of grace period to regain lost ground were wasted in a way. The expected hikes in fees and charges are flowing in predictably and in orderly fashion. Even minimum sums in CPF were raised as a non event. There is absolutely no need to consult the people, taking the people for granted.
Now this huge earthquake is going to shaken and loosen every foundation there is, and if a tsunami is to strike, it is going to be a waste land like Fukushima. I am still wondering how this salary thing is going to impact the ruling party and whether they can weather this perfect storm. At the moment there is no answer to the shocking revelation. What was being reported, written in blogs, are just the tip of an iceberg. The true sentiment of the people is simmering inside and would not come out in full, at least for the moment. There are still too much restraints and refrains from telling the truth. The PAP will never hear the truth.
What is more troubling is that there are some who are praising the Salary Recommendations. This will give the PAP a false sense of confidence that the prescription by the Review Committee is the solution they are waiting for. The more congratulatory support for the recommendations the more delusion they will get into. When the imperial physicians diagnosed that the emperor was only having measles instead of syphilis, there was a big sigh of relief and self congratulations. The physicians were brilliant. And the prescriptions were equally brilliant, just a few days of panadol and Vitamin C and the emperor will be back to good health. The diagnosis was what they wanted to hear and the prescription was what they wanted, and the imperial physicians did what they thought was best for everyone, including the emperor and their own good.
Is there any more goodwill left, any more political capital left, for the ruling party to survive this crisis, or I am just imagining things? What crisis? There will be a resurrection! Would the party be given a new lease of life after this storm and come out stronger? Or this is just a tropical storm and nothing more to it, and things will be back to normal in no time, with bright and sunny sky? Those who wanted the diagnosis to be measles would tell you that this is just a tropical storm and will blow over. Let’s hope they will be right again.
As a political observer, my crystal ball is revealing a different story.
1/06/2012
Grace Fu, feel sorry for you
I read what Grace Fu said. She came forward to serve the country with a cut in income, her career disrupted, the privacy of her life and family affected, and now this, a further cut in her salary.
This is indeed too much to ask for from a fellow citizen. Lose money, lost out in career and now lose more money. I can understand her unhappiness. I will support her if she chooses to leave politics and go back to advance her career and enjoy her higher income, and all the privacy of a normal citizen.
Sinkies are ungrateful indeed. Let’s all be more graceful and leave her alone. And if she so decides to return to the private sector, so be it, and wish her well. Happiness and peace of mind are important. If a political career is making her life so miserable, she should do what is good for herself and her family.
This is indeed too much to ask for from a fellow citizen. Lose money, lost out in career and now lose more money. I can understand her unhappiness. I will support her if she chooses to leave politics and go back to advance her career and enjoy her higher income, and all the privacy of a normal citizen.
Sinkies are ungrateful indeed. Let’s all be more graceful and leave her alone. And if she so decides to return to the private sector, so be it, and wish her well. Happiness and peace of mind are important. If a political career is making her life so miserable, she should do what is good for herself and her family.
When would the rogue govt be stopped?
After killing two Arab Presidents, it is now gunning for the third. At the same time it is preparing to start wars in the Korean Peninsula and South China Sea. It is forcing Iran into a corner by all kinds of sanctions possible. Under such provocations, it would be justifiable and expected for Iran to do a Pearl Harbour like what the Japs did under similar provocations and economic strangulations.
The odds at the moment are heavily against the Iranians. Cornered and isolated, separated from the world, and with no countries to come to its aid as it faces the rogue Americans with Israel and Nato tagging alone. This is the same formula for successful intimidation and invasion of countries by the western powers.
Divide and isolate a country and mount an attack with a coalition of forces. The UN is helpless, and the best thing to do is to put on the blinkers and see nothing, hear nothing. When would the rest of the world stand together to face this rogue nation and its rogue allies before their turns come? The world would need a counter coalition of countries to stand up to the rogue nations of the world, or one by one will face the same fate if they dare to disobey the Empire and the western gangs of bullies.
At the way it is going, Iran is going to be another sacrificial lamb in no time. When they came for Iraq, everyone kept quiet. Whey they came for Libya, everyone turn to look the other way. When they came for Iran, all ran away. When they came for you, be assured, you will be alone at the mercy of the rogues.
The odds at the moment are heavily against the Iranians. Cornered and isolated, separated from the world, and with no countries to come to its aid as it faces the rogue Americans with Israel and Nato tagging alone. This is the same formula for successful intimidation and invasion of countries by the western powers.
Divide and isolate a country and mount an attack with a coalition of forces. The UN is helpless, and the best thing to do is to put on the blinkers and see nothing, hear nothing. When would the rest of the world stand together to face this rogue nation and its rogue allies before their turns come? The world would need a counter coalition of countries to stand up to the rogue nations of the world, or one by one will face the same fate if they dare to disobey the Empire and the western gangs of bullies.
At the way it is going, Iran is going to be another sacrificial lamb in no time. When they came for Iraq, everyone kept quiet. Whey they came for Libya, everyone turn to look the other way. When they came for Iran, all ran away. When they came for you, be assured, you will be alone at the mercy of the rogues.
How much is the right amount to pay our ministers?
This question keeps popping up in every discussion after the discovery of how much the ministers are getting under the current formula. And when this question was asked, many would want to say $200k or $300k or $500k. But all were too shy to say it. They know that these numbers would not be accepted by people used to earning millions and have millions as their base reference point. The best example is what Gerard Ee quoted, that his peers would tell him not to kacho them for anything less than a million.
They would only be comfortable with millions and millions, nothing less.
And it is only right that these millionaires should not be coerced to suffer by going into politics to earn less when the heart is not there. Or else when they come in they would quietly devise all kinds of schemes and formulas to ensure that they get back what they want and more for the big sacrifice to go into politics. Money minded people will only think money even if they tell you money is not important or not a consideration.
A cat will say it would not want to eat mice. But eating rats is ok. Rodents, big ones, better still. Just don’t give it any mouse. They could even cut out the big rats or rodents into many pieces and tell you they are eating only a leg or a piece of steak. No mice. So the myth will go on, cats would no longer eat mice.
As to the question of how much, no amount is right and no amount is wrong. It is only right or wrong to the recipients. And it is also right or wrong to the public from their own perspective and values.
I would want to suggest a generous amount for our ministers. Actually it is a very generous amount in the eyes of reasonable people. Though it is not right to compare a chiku with a durian, if we want to be generous, we should close an eye and pretend that the chiku is as big as the durian and peg it to the durian’s worth. No one can say that this is not generous.
But the people must be brave enough to tell the chiku that it is a fruit and should not try to pick and choose what it wants to compare with. It is time to gently remind the chiku that it is after all a chiku.
Ok, now that we have a little framework in place and in a generous mood, I would suggest that we peg our PM’s pay with the richest and biggest economy in the world. We peg our PM’s salary to the President of the USA. Generous or not? If the President of the USA can live comfortably with his salary in a country where the cost of living is definitely not lower than ours, there is no reason that the same salary cannot provide our PM with a comfortable lifestyle and with dignity. At least he would have the same level of dignity as the President of USA which no one else can come near to. That should be very generous in my view. Anything more than this would be seen as greedy, outrageous and insane. Period.
A chiku is a chiku is a chiku.
They would only be comfortable with millions and millions, nothing less.
And it is only right that these millionaires should not be coerced to suffer by going into politics to earn less when the heart is not there. Or else when they come in they would quietly devise all kinds of schemes and formulas to ensure that they get back what they want and more for the big sacrifice to go into politics. Money minded people will only think money even if they tell you money is not important or not a consideration.
A cat will say it would not want to eat mice. But eating rats is ok. Rodents, big ones, better still. Just don’t give it any mouse. They could even cut out the big rats or rodents into many pieces and tell you they are eating only a leg or a piece of steak. No mice. So the myth will go on, cats would no longer eat mice.
As to the question of how much, no amount is right and no amount is wrong. It is only right or wrong to the recipients. And it is also right or wrong to the public from their own perspective and values.
I would want to suggest a generous amount for our ministers. Actually it is a very generous amount in the eyes of reasonable people. Though it is not right to compare a chiku with a durian, if we want to be generous, we should close an eye and pretend that the chiku is as big as the durian and peg it to the durian’s worth. No one can say that this is not generous.
But the people must be brave enough to tell the chiku that it is a fruit and should not try to pick and choose what it wants to compare with. It is time to gently remind the chiku that it is after all a chiku.
Ok, now that we have a little framework in place and in a generous mood, I would suggest that we peg our PM’s pay with the richest and biggest economy in the world. We peg our PM’s salary to the President of the USA. Generous or not? If the President of the USA can live comfortably with his salary in a country where the cost of living is definitely not lower than ours, there is no reason that the same salary cannot provide our PM with a comfortable lifestyle and with dignity. At least he would have the same level of dignity as the President of USA which no one else can come near to. That should be very generous in my view. Anything more than this would be seen as greedy, outrageous and insane. Period.
A chiku is a chiku is a chiku.
The fallacy of getting what you paid for
Arising from the proposed ministerial salary cut, there is this comment by Eugene Tan of SMU, that ‘Often, as in the private sector, you get what you paid for.’ This linkage of monetary value to the intrinsic value that comes with a person’s service, work, or the quality of a product can be misleading.
Not everyone who makes a lot of money is a super talent. Many gamblers make more money than the smartest academics. Making money is a different skill set and depends on many variables. Some don’t need any talent to be making plenty of money or living a life of plenty.
The other linkage that is often misleading is the interchangeability of skills. A top surgeon will naturally be a good national leader. Or a top soldier will automatically be a good ministers. You can stretch this to every profession and the answer is obvious. The different skills and talents required in different profession can be totally irrelevant to the job of a politician. It has been proven that a too clever politician can be a liability instead.
The other disadvantage of attracting talents by virtue of their success in their chosen field to go to politics can be the loss of both professions when the former profession lost an excellent professional who ended up as a mediocre politician. It is true, a fact.
There is no direct correlation between a high income earner and his ability to become a good political leader or a good national leader. Bring in a top notch gambler or thief and he would probably apply his gambling skills to run the country or steal from the country.
You don’t always get what you paid for. This is a fallacy that does not need any proving. Very often than not, a person who is motivated by making more money and can only be attracted by money, is a bad choice to lead the country. And using money to lure people into politics is already a big mistake.
Not everyone who makes a lot of money is a super talent. Many gamblers make more money than the smartest academics. Making money is a different skill set and depends on many variables. Some don’t need any talent to be making plenty of money or living a life of plenty.
The other linkage that is often misleading is the interchangeability of skills. A top surgeon will naturally be a good national leader. Or a top soldier will automatically be a good ministers. You can stretch this to every profession and the answer is obvious. The different skills and talents required in different profession can be totally irrelevant to the job of a politician. It has been proven that a too clever politician can be a liability instead.
The other disadvantage of attracting talents by virtue of their success in their chosen field to go to politics can be the loss of both professions when the former profession lost an excellent professional who ended up as a mediocre politician. It is true, a fact.
There is no direct correlation between a high income earner and his ability to become a good political leader or a good national leader. Bring in a top notch gambler or thief and he would probably apply his gambling skills to run the country or steal from the country.
You don’t always get what you paid for. This is a fallacy that does not need any proving. Very often than not, a person who is motivated by making more money and can only be attracted by money, is a bad choice to lead the country. And using money to lure people into politics is already a big mistake.
1/05/2012
Singapore Ministers not the highest paid in the World
I read this report from a Elena Torrijos in Yahoo News, Singapore. This is her first 2 paragraphs.
Updated (6.24pm)
Singapore ministers, among the highest-paid in the world, should have their salaries cut by 37 per cent to S$1.1 million and their pension benefits stripped, the panel to review political pay said in a press release to the public on Wednesday.
Singapore ministers are only among the highest paid in the world, not the highest. This must be a consoling news from Yahoo.
Is this what the reporter is saying? Or at least this is the impression I am getting. Maybe she knows something that I don't.
Updated (6.24pm)
Singapore ministers, among the highest-paid in the world, should have their salaries cut by 37 per cent to S$1.1 million and their pension benefits stripped, the panel to review political pay said in a press release to the public on Wednesday.
Singapore ministers are only among the highest paid in the world, not the highest. This must be a consoling news from Yahoo.
Is this what the reporter is saying? Or at least this is the impression I am getting. Maybe she knows something that I don't.
What is the maximum payout possible?
The Today paper has a chart listing the amount that could be paid out to a political appointment holder under the current framework.
1. 12 mths basic salary
2. 1 mth NPAA
3. 1 mth Special Allowance
4. 2 mths Public Leadership Allowance
The above are fixed or guaranteed. Thus an appointee will get 16 mths of his basic salary. Below are the variables.
5. 0-1.5 mths Annual Variable Component
6. 0-14 mths Performance Bonus
7. 0-8 mths GDP Bonus
Put the two parts together and looking at the maximum it means that a political appointment holder could get a maximum of 16 mths + 23.5 mths in total annual salary, or 39.5 months.
It would be unlikely that many of them would be getting this full sum, but there should be a few of the super talented ones getting them, 39.5 mths or 3.29 times of annual salary. So if a minister is getting $2m, his annual income could be $6.58m. And if the PM is $3 his annual income could be $9.87m! This is theoretical of course.
Last year was a good year with GDP at a record high, like 15%. How to get such a phenomenal growth rate is short of miraculous indeed. It must be raining gold from heaven. Did any of the good performers get the max, or how many get near to the 39.5 mths, or 36 mths not to be too ambitious?
1. 12 mths basic salary
2. 1 mth NPAA
3. 1 mth Special Allowance
4. 2 mths Public Leadership Allowance
The above are fixed or guaranteed. Thus an appointee will get 16 mths of his basic salary. Below are the variables.
5. 0-1.5 mths Annual Variable Component
6. 0-14 mths Performance Bonus
7. 0-8 mths GDP Bonus
Put the two parts together and looking at the maximum it means that a political appointment holder could get a maximum of 16 mths + 23.5 mths in total annual salary, or 39.5 months.
It would be unlikely that many of them would be getting this full sum, but there should be a few of the super talented ones getting them, 39.5 mths or 3.29 times of annual salary. So if a minister is getting $2m, his annual income could be $6.58m. And if the PM is $3 his annual income could be $9.87m! This is theoretical of course.
Last year was a good year with GDP at a record high, like 15%. How to get such a phenomenal growth rate is short of miraculous indeed. It must be raining gold from heaven. Did any of the good performers get the max, or how many get near to the 39.5 mths, or 36 mths not to be too ambitious?
Own target, own time, fire!
The Americans are superb in mobilizing mass thinking to serve their own interest. They raised a few targets, gave them some names that people loved to hate, and viola, the masses of the world will be attacking the targets and forget about what is happening around them. The silly Asians are hating the Iranians, the Iraqis, the North Koreans happily and obsessively.
In the army, many males Sinkies will be familiar with the command, ‘At your own target, at your own time, fire!’ And the soldiers will be furiously firing at the raised targets in front of them, oblivious of what is happening around them.
What have all these got to do with the current big hooha on ministerial salary review? A big set of numbers are given to the people and all are happily digesting them and firing at them like good soldiers. Does anyone bother to step back and check if the numbers given are accurate or the numbers that they should really be looking at? As an example, the annual salary of a minister is $2,368,500. Is this what the minister really gets as his annual income? Are the bonuses included, and if not, do they want to know what is the total annual income? In other words, what is the real total annual income of a minister, excluding the minor perks? Are there other incomes that need to be included? Does a minister still collect his MP allowance? How many other appointments is he holding and being paid as well?
Are the numbers giving a full and complete picture of the income of a politician/MP/Minister? While everyone is happily firing, do they want to take a step back and examine if they are getting the full picture and firing at the target they should be firing at?
In the army, many males Sinkies will be familiar with the command, ‘At your own target, at your own time, fire!’ And the soldiers will be furiously firing at the raised targets in front of them, oblivious of what is happening around them.
What have all these got to do with the current big hooha on ministerial salary review? A big set of numbers are given to the people and all are happily digesting them and firing at them like good soldiers. Does anyone bother to step back and check if the numbers given are accurate or the numbers that they should really be looking at? As an example, the annual salary of a minister is $2,368,500. Is this what the minister really gets as his annual income? Are the bonuses included, and if not, do they want to know what is the total annual income? In other words, what is the real total annual income of a minister, excluding the minor perks? Are there other incomes that need to be included? Does a minister still collect his MP allowance? How many other appointments is he holding and being paid as well?
Are the numbers giving a full and complete picture of the income of a politician/MP/Minister? While everyone is happily firing, do they want to take a step back and examine if they are getting the full picture and firing at the target they should be firing at?
Ministerial Salary Recommendation – My take
We have heard it and everyone is talking about it. Great formulas and reasons given to support the recommendations, but it is still not right. The principles and concepts are all wrong, and as such the recommendations are still stuck in the mud, with basically the same old ideas with a little cosmetic changes here and there. There is nothing innovative or new about the recommendations.
The big mental trap is that everyone is still treating political appointments as an employment. So you have things like AWS, bonuses, performance evaluation, reward for good performance etc etc, and money, money and money.
In the first place we are dealing with responsible adults who stepped forward to serve the people and country in the highest office. There is no issue of performance. Every one of them is expected to be highly motivated and committed. And they cannot afford to slack or skive as they are under the spotlight 24/7. Absence and sleeping in parliament are all being watched. Hey, we are not dealing with 20 year old kids who applied and got employed but not really interested in what they are doing. Political office is a public commitment.
Politicians are elected by the people to serve for a fixed term of office. And the last thing that they should be concerned with is money, how much they could get as extras, how much bonuses to hope for if they work harder or the economy is doing better or worst. The money as a motivation factor should be removed from their thinking altogether. This will free them from the money halo that hangs over their heads, and allow them to do their jobs objectively, without having to weigh the odds of how it would affect their income.
A simple fixed sum should be paid to them annually for the duration of their office. The salary can input all the extra perks, AWS or bonuses etc just a simple package. Period. No complicating and confusing formulas, no worries of more variable bonuses, and no money thoughts in their minds. Remove the money equation and political leaders would not be burdened with the money fixation. It is so pathetic to imagine politicians nervously waiting to know how much they will be getting as bonuses at the end of the year. Stop that.
The remuneration system must build in dignity in public office. Pay them well and do not let them be embroiled like employees begging management for more year end bonuses. Political leaders must be above this and carry themselves with dignified confidence.
Forget about performance appraisal. The assessment of their performance must be by the people, the voters. And the reward and approval for a job well done is to be re elected, no extra money from performance related formulas. They are expected to perform, nothing less.
There is no need for the PM to appraise other ministers or MPs to reward them using public funds. It only introduces subjectivity and biases as there are ruling party MPs as well as opposition MPs. Who is to reward opposition MPs with public money? Without this appraisal by the PM, the ministers and MPs have no obsession to please him instead of pleasing the people by doing a good job.
The PM may want to assess his own ministers/MPs for his own reasons, but who cares? Corporations use appraisal for other purposes, promotion, training, career development, monetary rewards etc. These are irrelevant to political appointments which are elected by the people on a fixed term. After each term, if not elected, out he goes. What career development, training and development and more monetary perks? Now, did I hear some politicians are being trained in office and paid by public money?
Performance evaluation is a party matter, maybe to gauge whether to field the candidate again or to slot him into a minister post. Don’t drag public money into it as in principle it is difficult when OPM is involved. They can pay with their own party funds if they like, then no one will mind.
The idea of employment and terms of employment, of monetary rewards, must be erased totally and be replaced by a simple fixed income for simplicity, transparency and minimal complications. No one needs to double guess what the politicians are getting or what they are up to. The politicians should just do their jobs when elected to office, with dignity, and to seek re election and the people’s approval as their rewards, not more bonuses.
Politicians are elected by the people and accountable to the people for a fixed term of office. The people will evaluate them and decide to elect or drop them. Their evaluation comes once in 5 years, not annually like employees of an organisation.
The big mental trap is that everyone is still treating political appointments as an employment. So you have things like AWS, bonuses, performance evaluation, reward for good performance etc etc, and money, money and money.
In the first place we are dealing with responsible adults who stepped forward to serve the people and country in the highest office. There is no issue of performance. Every one of them is expected to be highly motivated and committed. And they cannot afford to slack or skive as they are under the spotlight 24/7. Absence and sleeping in parliament are all being watched. Hey, we are not dealing with 20 year old kids who applied and got employed but not really interested in what they are doing. Political office is a public commitment.
Politicians are elected by the people to serve for a fixed term of office. And the last thing that they should be concerned with is money, how much they could get as extras, how much bonuses to hope for if they work harder or the economy is doing better or worst. The money as a motivation factor should be removed from their thinking altogether. This will free them from the money halo that hangs over their heads, and allow them to do their jobs objectively, without having to weigh the odds of how it would affect their income.
A simple fixed sum should be paid to them annually for the duration of their office. The salary can input all the extra perks, AWS or bonuses etc just a simple package. Period. No complicating and confusing formulas, no worries of more variable bonuses, and no money thoughts in their minds. Remove the money equation and political leaders would not be burdened with the money fixation. It is so pathetic to imagine politicians nervously waiting to know how much they will be getting as bonuses at the end of the year. Stop that.
The remuneration system must build in dignity in public office. Pay them well and do not let them be embroiled like employees begging management for more year end bonuses. Political leaders must be above this and carry themselves with dignified confidence.
Forget about performance appraisal. The assessment of their performance must be by the people, the voters. And the reward and approval for a job well done is to be re elected, no extra money from performance related formulas. They are expected to perform, nothing less.
There is no need for the PM to appraise other ministers or MPs to reward them using public funds. It only introduces subjectivity and biases as there are ruling party MPs as well as opposition MPs. Who is to reward opposition MPs with public money? Without this appraisal by the PM, the ministers and MPs have no obsession to please him instead of pleasing the people by doing a good job.
The PM may want to assess his own ministers/MPs for his own reasons, but who cares? Corporations use appraisal for other purposes, promotion, training, career development, monetary rewards etc. These are irrelevant to political appointments which are elected by the people on a fixed term. After each term, if not elected, out he goes. What career development, training and development and more monetary perks? Now, did I hear some politicians are being trained in office and paid by public money?
Performance evaluation is a party matter, maybe to gauge whether to field the candidate again or to slot him into a minister post. Don’t drag public money into it as in principle it is difficult when OPM is involved. They can pay with their own party funds if they like, then no one will mind.
The idea of employment and terms of employment, of monetary rewards, must be erased totally and be replaced by a simple fixed income for simplicity, transparency and minimal complications. No one needs to double guess what the politicians are getting or what they are up to. The politicians should just do their jobs when elected to office, with dignity, and to seek re election and the people’s approval as their rewards, not more bonuses.
Politicians are elected by the people and accountable to the people for a fixed term of office. The people will evaluate them and decide to elect or drop them. Their evaluation comes once in 5 years, not annually like employees of an organisation.
1/04/2012
Aiyo, why cut so much?
Now you people got to go and sayang the ministers. Sakit lah.
I hope this cut will not affect the political system of recruiting the best to stand for election. The good guys who still want to serve should still step forward despite the lower salary. And the concern of corruption if pay not enough, may it not happen to prove that the old belief is right.
Someone please tell them their dignity will not be affected adversely at all. In fact their dignity will get a boost, and a bigger boost if the cut is bigger. And the record of the world’s top 30 highest paid politicians will still stay and unlikely to be broken for another donkey years to come.
I hope this cut will not affect the political system of recruiting the best to stand for election. The good guys who still want to serve should still step forward despite the lower salary. And the concern of corruption if pay not enough, may it not happen to prove that the old belief is right.
Someone please tell them their dignity will not be affected adversely at all. In fact their dignity will get a boost, and a bigger boost if the cut is bigger. And the record of the world’s top 30 highest paid politicians will still stay and unlikely to be broken for another donkey years to come.
Latest on Ministerial Salary cut
This is not confirmed but came out from the wire. The recommendations could see a 28% cut for Hsien Loong, 31% cut for junior ministers and 51% cut for the President. MPs will get a 3% cut.
And this will be back dated to 21 May 2011.
And this will be back dated to 21 May 2011.
Waking up Rip Van Winkles
After reading the article on Piyush Gupta, I have to take back my words on foreign talents running local enterprises. He went in and found a rotten apple that still looked good from the outside. ‘He was aghast that a bank of the standing of DBS lacked the very basic and fundamental processes required of it.’ And DBS head hunted some of the best finance talents across the world to be in such a state. Don’t they have any talents working in the bank to avoid the mess? ‘…a lot of processes and systems which you would expect a large, professional organization like DBS to already have established and ingrained were not in place, said Mr Gupta…’
The bank did not know which customers were profitable, which branch were profitable, and the operations in every country, the platform and processes, were different and many many more things needed to be straightened up. You need to read the full text in the article in today’s ST to appreciate the problems he inherited. Does it mean the bank was sleeping all these years?
Two years on the job, ‘the bank’s management now understands the credit risk and market risk better,(unbelievable)…and also has much more standardized processes across all its markets.’ And he had done more, and the bank is now more confident of the stability of the overall banking operation at this stage.
Thank God that they brought in Gupta in time. Wonder what would be the state of health of the bank if it continues with the status quo. This is a foreign talent that came in to shake everybody up, wake up, wake up. No wonder they could not find a local to fill the top post.
They had a few foreign talents before, and I think all with credentials from the Ivy leagues of American fame. What is different about Gupta is that he needed not be from the American cohorts. He graduated from Delhi University and got a MBA from the Indian Institute of Management, Ahmedabad. Now I understand why the Americans are forming a beeline to India to recruit their banking talents. And our mistake is obvious.
Instead of going to India, we went to America. DBS is fortunate to go to America through Citibank to find its talent from India. It was quite like an accidental discovery of America by Columbus.
Hope the Singapore govt knows where to get their foreign financial talents from to achieve its ambitious plan of turning the island into a premier financial hub. Wall Street talents and those from American Ivy League are no longer in vogue. They actually messed up the American financial system and nearly brought the down the rest of the world with them.
The bank did not know which customers were profitable, which branch were profitable, and the operations in every country, the platform and processes, were different and many many more things needed to be straightened up. You need to read the full text in the article in today’s ST to appreciate the problems he inherited. Does it mean the bank was sleeping all these years?
Two years on the job, ‘the bank’s management now understands the credit risk and market risk better,(unbelievable)…and also has much more standardized processes across all its markets.’ And he had done more, and the bank is now more confident of the stability of the overall banking operation at this stage.
Thank God that they brought in Gupta in time. Wonder what would be the state of health of the bank if it continues with the status quo. This is a foreign talent that came in to shake everybody up, wake up, wake up. No wonder they could not find a local to fill the top post.
They had a few foreign talents before, and I think all with credentials from the Ivy leagues of American fame. What is different about Gupta is that he needed not be from the American cohorts. He graduated from Delhi University and got a MBA from the Indian Institute of Management, Ahmedabad. Now I understand why the Americans are forming a beeline to India to recruit their banking talents. And our mistake is obvious.
Instead of going to India, we went to America. DBS is fortunate to go to America through Citibank to find its talent from India. It was quite like an accidental discovery of America by Columbus.
Hope the Singapore govt knows where to get their foreign financial talents from to achieve its ambitious plan of turning the island into a premier financial hub. Wall Street talents and those from American Ivy League are no longer in vogue. They actually messed up the American financial system and nearly brought the down the rest of the world with them.
Turning Pareto upside down
The recent tightening of regulations on trading high risk instruments and products through the SGX is ruffling some feathers, of the investors and brokerages. It is quite a complicated exercise to safeguard the interests of naïve and ignorant investors in sophisticated, highly geared derivatives and foreign shares. The new regulations have made monitoring, administration and its execution quite a formidable exercise, and with many loose ends yet to be tested.
What has Pareto got to do with this change? The bread and butter business of the remisiers is trading local stocks and other legitimate and well established instruments. This is the forte of most remisiers. They know the business, the stocks, the companies and the happenings in the industry.
As for high risk and highly geared derivatives and other queer instruments, including foreign shares, they are a totally different kettle of fish. Not many of their clients are sophisticated enough to want to dabble in them regularly. Occasionally there will be a few never say die commandoes who may have heard something or given a tip by someone and wanted to go in for a quick punt. The business generated by these unfamiliar stuff is pretty small and in between. It may not be more than 5% of their business, or not at all.
And when foreign shares are concerned, it is sheer impossible to know what they are. Clients could technically ask to trade stocks from Australia, Indonesia, Philippines, Japan, Taiwan, Korea, Hongkong, Shanghai, all the other countries of Asean, Europe and the US. The number and spread of stocks are simply insane to know. Even the big funds or brokerage would not have enough specialist staff to know what they are dealing with or even claim to know the stocks of a particular market. There is just no superman to know any one market or all the markets even if he is full time on it.
Get the picture? The local remisiers who are pretty familiar with the local companies and stocks are not allowed to advise their clients in the trading of these stocks. They are supposed to be order takers, dumb key board operators in a way.
In the case of foreign stocks and derivatives, which most remisiers would hardly have a clue or only superficial knowledge, they are expected to advise their clients on how to trade these alienand unfamiliar stocks and queer derivatives. Get me now?
There is no excuse for any remisier to not know about these Specified Investment Products or SIPs, when they are expected to give advice to their clients. Now, how can one be an expert in the stocks and derivatives around the world? I don’t think any brokerage or international funds have such an expertise and definitely not in one particular trader. It is simply an impossible requirement.
Even if the remisiers are willing to attend all the training needed, to gear themselves on these foreign shares, it will be at least 10 years by the time he gets to attend all the training sessions. Here comes Pareto. Why spend so much time on an activity that is hardly 5% or less of one’s business, so as to be qualified professionally to give advice to clients? Or can one simply give advice on something he does not know?
Can there be such an animal in existence that is capable of providing professional advice to clients on all the overseas stocks and all the highly sophisticated instruments at the same time, and still spend 90% of his time managing his clients trading on local stocks, even as an order taker?
I doubt a super computer can do a proper job.
What has Pareto got to do with this change? The bread and butter business of the remisiers is trading local stocks and other legitimate and well established instruments. This is the forte of most remisiers. They know the business, the stocks, the companies and the happenings in the industry.
As for high risk and highly geared derivatives and other queer instruments, including foreign shares, they are a totally different kettle of fish. Not many of their clients are sophisticated enough to want to dabble in them regularly. Occasionally there will be a few never say die commandoes who may have heard something or given a tip by someone and wanted to go in for a quick punt. The business generated by these unfamiliar stuff is pretty small and in between. It may not be more than 5% of their business, or not at all.
And when foreign shares are concerned, it is sheer impossible to know what they are. Clients could technically ask to trade stocks from Australia, Indonesia, Philippines, Japan, Taiwan, Korea, Hongkong, Shanghai, all the other countries of Asean, Europe and the US. The number and spread of stocks are simply insane to know. Even the big funds or brokerage would not have enough specialist staff to know what they are dealing with or even claim to know the stocks of a particular market. There is just no superman to know any one market or all the markets even if he is full time on it.
Get the picture? The local remisiers who are pretty familiar with the local companies and stocks are not allowed to advise their clients in the trading of these stocks. They are supposed to be order takers, dumb key board operators in a way.
In the case of foreign stocks and derivatives, which most remisiers would hardly have a clue or only superficial knowledge, they are expected to advise their clients on how to trade these alienand unfamiliar stocks and queer derivatives. Get me now?
There is no excuse for any remisier to not know about these Specified Investment Products or SIPs, when they are expected to give advice to their clients. Now, how can one be an expert in the stocks and derivatives around the world? I don’t think any brokerage or international funds have such an expertise and definitely not in one particular trader. It is simply an impossible requirement.
Even if the remisiers are willing to attend all the training needed, to gear themselves on these foreign shares, it will be at least 10 years by the time he gets to attend all the training sessions. Here comes Pareto. Why spend so much time on an activity that is hardly 5% or less of one’s business, so as to be qualified professionally to give advice to clients? Or can one simply give advice on something he does not know?
Can there be such an animal in existence that is capable of providing professional advice to clients on all the overseas stocks and all the highly sophisticated instruments at the same time, and still spend 90% of his time managing his clients trading on local stocks, even as an order taker?
I doubt a super computer can do a proper job.
Stop the raid on your CPF
I have to pick this issue up regularly to remind the Sinkies that the CPF savings are their money. No buts, not even legislation is allowed to take them away from you. I have read in many blogs and feel very embarrassed and shameful that Singaporeans are resigned to the fate that their CPF money is as good as gone, forever. Some meekly took the position that it is another form of tax. Please, do not allow that kind of mindset to let your money slip away. It is Ah Q mentality. When people slap you, try to rationalize it away as okay and meekly walk away pretending to be happy.
Just remember the obnoxious HDB housing policies, the wind down of the building programme despite the huge demand, the long wait, the runaway prices. If Sinkies have accepted them as given, can’t be helped, can’t do anything about it, these policies would still be in place and the Sinkies will still be taken for granted.
The same goes to their CPF money. Once Sinkies stop the fight, it will be the end of their money. The minimum sum will keep going up and up and away. If the Sinkies want the raiding of their CPF savings to stop, they have to start right now, together, to kpkb, to make sure that the govt heard you. All the money must be returned to their rightful owner by 65 at most. The senior citizens are not idiots or of unsound mind, not all. They can manage their money and know how to use them for their own benefits.
After 65, any money to be left in the CPF must be voluntary. And the govt can explain all the good reasons why the Sinkies should keep putting their money in the CPF and to encourage them with positive incentives like higher interest rates or whatever perks. It must be done on a willing party basis, optional. Is there such a word called ‘optional’? I think many did not know of its existence. The only word they understand is compulsory. No one must be coerced by legislation to be parted with their hard earned money.
After 65, life can be terminated at any time. Let the people decide what they want to do with their money. The govt has no right to do that. Legislation is force, is crude and ugly.
The minimum sum in the Medisave is another issue that is intolerable. It is as good as paying your medical fees in advance, in the tune of $30k when one may not even need it. It is a farcical reasoning. Not everyone wants to spend his money on expensive hospital bills to be alive and have nothing left, and become stragglers or crawlers to pass their meaningless living in oblivion. It is pathetic.
The raid on the people’s CPF must be stopped. And only the Sinkies can stop them. Never give up on your blood sweat money. You earned it and it must be yours to spend, to do as you please unless God says otherwise. No human gods should think they are wiser and can assume the role of God. Anyone supporting such a policy, to deprive the people of their hard earned money without good intention, better be mindful of what you are doing.
Just remember the obnoxious HDB housing policies, the wind down of the building programme despite the huge demand, the long wait, the runaway prices. If Sinkies have accepted them as given, can’t be helped, can’t do anything about it, these policies would still be in place and the Sinkies will still be taken for granted.
The same goes to their CPF money. Once Sinkies stop the fight, it will be the end of their money. The minimum sum will keep going up and up and away. If the Sinkies want the raiding of their CPF savings to stop, they have to start right now, together, to kpkb, to make sure that the govt heard you. All the money must be returned to their rightful owner by 65 at most. The senior citizens are not idiots or of unsound mind, not all. They can manage their money and know how to use them for their own benefits.
After 65, any money to be left in the CPF must be voluntary. And the govt can explain all the good reasons why the Sinkies should keep putting their money in the CPF and to encourage them with positive incentives like higher interest rates or whatever perks. It must be done on a willing party basis, optional. Is there such a word called ‘optional’? I think many did not know of its existence. The only word they understand is compulsory. No one must be coerced by legislation to be parted with their hard earned money.
After 65, life can be terminated at any time. Let the people decide what they want to do with their money. The govt has no right to do that. Legislation is force, is crude and ugly.
The minimum sum in the Medisave is another issue that is intolerable. It is as good as paying your medical fees in advance, in the tune of $30k when one may not even need it. It is a farcical reasoning. Not everyone wants to spend his money on expensive hospital bills to be alive and have nothing left, and become stragglers or crawlers to pass their meaningless living in oblivion. It is pathetic.
The raid on the people’s CPF must be stopped. And only the Sinkies can stop them. Never give up on your blood sweat money. You earned it and it must be yours to spend, to do as you please unless God says otherwise. No human gods should think they are wiser and can assume the role of God. Anyone supporting such a policy, to deprive the people of their hard earned money without good intention, better be mindful of what you are doing.
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