The right wing militant governor of Tokyo, Shintaro Ishihara, is still waving his samurai sword like a true samurai. He is still living in the days of the Japanese Empire, when Japan ruled East Asia, with Korea and Taiwan as their colonies and China a semi colony. Yesterday he proudly announced that he is going to buy Diaoyutai, a Chinese island which the Japanese claimed during the Empire days and named Senkaku, from a Japanese owner. What’s next, he is going to buy over Taiwan from another Japanese and Dokto from another Japanese as well.
China is lucky that it now carries a bigger stick than the samurai sword and when comes to the crunch, China can wield the stick and swing it hard at the Japanese. What else can the Chinese do if the Japanese insist on taking over Diaoyutai? The Japanese position has weakened over the last decade with the realization that China will go to war if Japan dares take over the island. They used to arrest Chinese and Taiwanese fishing boats and chased them away with their coast guards like what the Philippines were trying to do. The Philippines too were arresting Chinese fishing boats till the latest incident when they threatened some Chinese fishermen with their WW 2 antique warship donated by the Americans.
What happened after the provocative attempt to arrest the Chinese fishermen and threatening to defend their claims with their big guns? They quietly sailed back to Luzon on the pretext of refueling and needing food ration. Or was it that the Chinese told them that they would be sunk by Chinese submarines on their flanks if they refused to get lost?
Lately the Japanese too have been less brazen in arresting and chasing away Chinese fishing boats. They know that their Empire days are over, except for militants like Shintaro. It may be time for some fireworks. And this time it would be the Chinese turn to tell the Japanese that it was the Japanese fault for carrying a smaller gun than the Chinese. That was what the Japanese told the Chinese when they invaded China in the early 20th Century. The Japanese like Shintaro may want to taste their own medicine by pushing the boundary against China. They can still count on America to fight on their side. They can try and see if Tokyo still exists in the aftermath.
4/19/2012
Celebration time for Sinkies
HDB flats costing $1m in the resale market, or near to $1m. COE for small cars is now $64k and big cars $91k. And the best part, Sinkies are all celebrating, or at least none is complaining. The property owners are feeling so rich. The car owners who can afford to buy just a piece of paper to entitle them to buy a car must definitely be very rich.
These are happy problems. It only means that Sinkies are getting richer by the day without having to work. No wonder they have to import foreigners to do all the works. Sinkies only need to sit on their properties and feel richer everyday. Now they can also buy cars, park in the car park and wait for the prices to soar with COEs costing more than the value of a car.
With the million dollar flats, they can make a quick pile and spend a little on a brand new car. Who cares whether the train is delayed or not moving? Who cares if COE is $100k? A million dollar HDB flat can buy several COEs and cars. Life is wonderful in this little paradise.
The best plan is to sell the million dollar flat and switch to a 2 rm flat and take advantage of all the subsidies. Don’t work, so will qualify as low income earner. The extra cash can buy a Mercedes to drive around. Hear only the good stuff.
These are happy problems. It only means that Sinkies are getting richer by the day without having to work. No wonder they have to import foreigners to do all the works. Sinkies only need to sit on their properties and feel richer everyday. Now they can also buy cars, park in the car park and wait for the prices to soar with COEs costing more than the value of a car.
With the million dollar flats, they can make a quick pile and spend a little on a brand new car. Who cares whether the train is delayed or not moving? Who cares if COE is $100k? A million dollar HDB flat can buy several COEs and cars. Life is wonderful in this little paradise.
The best plan is to sell the million dollar flat and switch to a 2 rm flat and take advantage of all the subsidies. Don’t work, so will qualify as low income earner. The extra cash can buy a Mercedes to drive around. Hear only the good stuff.
Clockwork Singapore
Singapore used to be a clockwork country. Push a button, press a switch, turn on the tap, everything works. Singapore used to pride itself as a first world country, an oasis in the third world. It differentiated itself with world class quality and services, reliability and efficiency In just a few months, the public train system is breaking apart. How so? This kind of thing does not breakdown overnight. It takes a long gestation period to build up a series of lapses for such a thing to happen. An entire system functioning smoothly over 40 years does not go down like a string of dominoes. That is exactly what is happening to the train system.
Having breakdowns, stoppages and delays are daily business. And the frequency is no longer funny. The standby support system is activated and is working like a substitute to the main system. Excuse for coming late to work chits are printed so that workers can bring it back to office as proof of being late, like getting an MC. Soon organizations will have to check with public transport operators on the validity of such chits and breakdowns. And there will be permanent signs outside every station just to report on delays and breakdowns. It could even have a dedicated radio channel or mobile phone apps to inform commuters to take alternative transport.
It was only yesterday that workers were encouraged to sell their private cars to take public transport, as cheaper, faster and more convenient. Those who opted for the change are finding it a daily hustle to get from point to point. What is going on man?
And with COEs hitting $100k, what is the alternative for those who cannot afford cars now? What is happening to this first world oasis? It is like the light is being switched off, the end is near, age is catching up. The mandate of heaven has been withdrawn and nothing is going to work like clockwork anymore.
And it is happening despite the super talents being in charge and being paid super talented salaries. It is time the people vote like Citigroup against the huge pay packages when the management cannot deliver.
Having breakdowns, stoppages and delays are daily business. And the frequency is no longer funny. The standby support system is activated and is working like a substitute to the main system. Excuse for coming late to work chits are printed so that workers can bring it back to office as proof of being late, like getting an MC. Soon organizations will have to check with public transport operators on the validity of such chits and breakdowns. And there will be permanent signs outside every station just to report on delays and breakdowns. It could even have a dedicated radio channel or mobile phone apps to inform commuters to take alternative transport.
It was only yesterday that workers were encouraged to sell their private cars to take public transport, as cheaper, faster and more convenient. Those who opted for the change are finding it a daily hustle to get from point to point. What is going on man?
And with COEs hitting $100k, what is the alternative for those who cannot afford cars now? What is happening to this first world oasis? It is like the light is being switched off, the end is near, age is catching up. The mandate of heaven has been withdrawn and nothing is going to work like clockwork anymore.
And it is happening despite the super talents being in charge and being paid super talented salaries. It is time the people vote like Citigroup against the huge pay packages when the management cannot deliver.
Singapore Day for 3000 in New York
We flew our hawkers to New York. We flew the chief of PA to entertain them. We flew Chee Hean and Amy Khor to shake hands with our Singaporeans and let them know that we missed them and want them to feel that there is a home back home. We flew Michele Chong, Hossan Leong and a few of our local entertainers to give them a bit of Singlish humour.
$4m were spent in the process or about $1,300 per head going by the 3000 happy participants. Only a rich country can afford to throw this kind of party for its overseas citizens. It is money worth spending. What is the purpose of the party? To tell them to come home after their studies or after their overseas experience and acquisition of knowledge and skills? Would they come home?
Heard one of them saying he will need $1m to come home but he could not afford to. He will not be eligible to buy a HDB flat as his income exceeded the ceiling to be classified poor but not rich enough to plonk $1m for a 655 sq ft luxurious condominium. So how?
Singapore can wait. And thanks for the food and the thought. To go home and contribute $1m to the property market and another $100k to buy a COE just do not make money sense. One bowl of laksa may be $10 in New York, but still very cheap.
$4m were spent in the process or about $1,300 per head going by the 3000 happy participants. Only a rich country can afford to throw this kind of party for its overseas citizens. It is money worth spending. What is the purpose of the party? To tell them to come home after their studies or after their overseas experience and acquisition of knowledge and skills? Would they come home?
Heard one of them saying he will need $1m to come home but he could not afford to. He will not be eligible to buy a HDB flat as his income exceeded the ceiling to be classified poor but not rich enough to plonk $1m for a 655 sq ft luxurious condominium. So how?
Singapore can wait. And thanks for the food and the thought. To go home and contribute $1m to the property market and another $100k to buy a COE just do not make money sense. One bowl of laksa may be $10 in New York, but still very cheap.
4/18/2012
All victims of Japanese atrocities need to apologise to Japan
After Liew Khai Khuin’s response to a school teacher’s enactment of WW2’s Japanese Occupation, there were some violent responses in the ST forum. Yesterday there was a follow up on the issue by Clarissa Oon, a senior ST writer. This is perhaps the most objective article written by the apologetic victims after the emotional outbursts in the ST forum.
The gist of her objective and critical analysis is that the war and the atrocities are only a matter of interpretation. There is no right and wrong really. In the case of China, it has no right to ask for an apology from Japan after what it had done to its people during the Great Leap Forward, Cultural Revolution and the Tian Anmen Incident. If China could kill its own people in the millions, what was so wrong about Japan killing Chinese? Until China acknowledges its crime over its citizens, it is inappropriate to demand an apology from Japan for war atrocities.
As for the other nations like Korea or South East Asian countries, their histories have a lot of omissions. ‘Singaporeans should also cast a self critical eye on biases and omissions in the telling of our own national history, even as we take a hard look at the narratives of other countries.’ And ‘While Japan’s neighbours should continue to nudge it to face up more fully to its wartime abuses, these countries should also move towards more honest and open examination of their own histories.’
So Asian countries, please rewrite your history honestly before making demands on Japan. Your own interpretation of your history is wrong. Japan’s interpretation is their business. Asian countries have to be honest first before they can ask Japan for an apology. I am wondering what the Asian countries were so dishonest about? Have they distorted their history and anyhow blamed the Japanese for the atrocities which did not take place? Were the claims of atrocities and brutality false, exaggerated as in the case of the Nankin Massacre? What is the relationship between their own histories, or what have the Great Leap Forward, Cultural Revolution got to do with Japanese barbarism towards the Chinese and South East Asian people?
I am floored by the convincing objectivity of the brilliant article and how the Asian countries were wronged about Japan. I must pay a visit to Yasukuni Shrine to apologise to the dead Japanese soldiers. We have no right to demand for an apology from the Japanese if we were not honest with our history, or in other words, our history could have been wrong. There were no atrocities and Japanese interpretation could be right, or the Japanese have their right to interpret their own history. It is only a matter of interpretation. It is our fault for wrongly interpreting our history and worst, for omitting about the good part of the Japanese atrocities against Asian people.
The gist of her objective and critical analysis is that the war and the atrocities are only a matter of interpretation. There is no right and wrong really. In the case of China, it has no right to ask for an apology from Japan after what it had done to its people during the Great Leap Forward, Cultural Revolution and the Tian Anmen Incident. If China could kill its own people in the millions, what was so wrong about Japan killing Chinese? Until China acknowledges its crime over its citizens, it is inappropriate to demand an apology from Japan for war atrocities.
As for the other nations like Korea or South East Asian countries, their histories have a lot of omissions. ‘Singaporeans should also cast a self critical eye on biases and omissions in the telling of our own national history, even as we take a hard look at the narratives of other countries.’ And ‘While Japan’s neighbours should continue to nudge it to face up more fully to its wartime abuses, these countries should also move towards more honest and open examination of their own histories.’
So Asian countries, please rewrite your history honestly before making demands on Japan. Your own interpretation of your history is wrong. Japan’s interpretation is their business. Asian countries have to be honest first before they can ask Japan for an apology. I am wondering what the Asian countries were so dishonest about? Have they distorted their history and anyhow blamed the Japanese for the atrocities which did not take place? Were the claims of atrocities and brutality false, exaggerated as in the case of the Nankin Massacre? What is the relationship between their own histories, or what have the Great Leap Forward, Cultural Revolution got to do with Japanese barbarism towards the Chinese and South East Asian people?
I am floored by the convincing objectivity of the brilliant article and how the Asian countries were wronged about Japan. I must pay a visit to Yasukuni Shrine to apologise to the dead Japanese soldiers. We have no right to demand for an apology from the Japanese if we were not honest with our history, or in other words, our history could have been wrong. There were no atrocities and Japanese interpretation could be right, or the Japanese have their right to interpret their own history. It is only a matter of interpretation. It is our fault for wrongly interpreting our history and worst, for omitting about the good part of the Japanese atrocities against Asian people.
Lim Chong Yah’s recommendation and the big risk
There have been all kinds of criticism against Lim Chong Yah’s shock therapy but all seems to miss the most dangerous point. His freezing of the pay of those earning above $15,000 is perhaps the most dangerous of his recommendation. Singapore will definitely sink and become another third world.
With the freezing of top talent’s pay one thing will sure to happen. They will be underpaid and what will be the outcome? Corruption! Corruption will become rampant. For the moment corruption is controlled and prevented from rearing its ugly head. Everyone is paid so well that there is no need to be corrupt or be tempted to corrupt. Once the deserving top talents are not paid enough, this monster can no longer be restrained.
Think the good old professor must rethink and find a solution to this big risk. Don’t believe, some may openly say I no pay enough so I corrupt lah. Don't pray pray.
With the freezing of top talent’s pay one thing will sure to happen. They will be underpaid and what will be the outcome? Corruption! Corruption will become rampant. For the moment corruption is controlled and prevented from rearing its ugly head. Everyone is paid so well that there is no need to be corrupt or be tempted to corrupt. Once the deserving top talents are not paid enough, this monster can no longer be restrained.
Think the good old professor must rethink and find a solution to this big risk. Don’t believe, some may openly say I no pay enough so I corrupt lah. Don't pray pray.
How to talk cock with cock reasoning
Dr Jim Yong Kim, a Korean American medical doctor was chosen to be the new World Bank chief over the widely respected Nigerian Finance Minister, Ms Ngozi Okonjo Iweala. And the cock reason in an article by AGENCIES reprinted in the Today paper, ‘Inexperience in economics and finance may just help World Bank chief steer agency in new direction.’ Is the new direction towards the abyss? For such an important post, maybe a pimp will be more suitable as you do not need anyone that is finance trained or with a good grasp of world finance. All he needs is an American endorsement and to be the puppet of the Empire.
I mean no disrespect to Dr Jim Yong Kim. He could be a good man, a good doctor. But his appointment is smelly and nonsensical. But the Americans are very good at that. They have been starting wars and killing innocent civilians throughout their history and made the world believe that they are as innocent as an angel and welcomed to kill. They are free from all war crimes.
And their recommendation of a doctor with little experience and financial knowledge is the best thing to happen to the World Bank, to save the world. And the unthinking people of the world believe so. And the Americans must be laughing themselves silly for selling another bottle of snake oil to the gullible people of the world.
I mean no disrespect to Dr Jim Yong Kim. He could be a good man, a good doctor. But his appointment is smelly and nonsensical. But the Americans are very good at that. They have been starting wars and killing innocent civilians throughout their history and made the world believe that they are as innocent as an angel and welcomed to kill. They are free from all war crimes.
And their recommendation of a doctor with little experience and financial knowledge is the best thing to happen to the World Bank, to save the world. And the unthinking people of the world believe so. And the Americans must be laughing themselves silly for selling another bottle of snake oil to the gullible people of the world.
False logic and reasoning
The danger of using false logic and reasoning to justify an unjustifiable act is like using a lie to cover another lie. The new lie conceived will need to be a bigger lie than the first, and every subsequent lie will become bigger and more indefensible. And every attempt to defend or cover the lie will make the liar look more stupid and the faked logic more untenable. It is only a matter of time when the lies fall through and the liar falls flat on his face.
The logic that GST is to help the poor, foreigners to help the citizens, foreigners are more talented, new citizens are Singaporeans, like one of us, high pay to prevent corruption, high minister pay is the right thing to do, HDB flats are affordable and driven by market forces, etc etc have started to have that hollow ring.
The people are starting to question these logics and starting to disbelieve in them. No matter how often are these songs being sung or printed as the real stuff, the good stuff, the truth will surface to tell a false logic is a false logic.
I recall a story of a poor family having a great reunion dinner behind closed doors. And they were celebrating and offering each other roast pork and chicken in a very happy and generous way. And they were toasting each other with cognac. Anyone outside will be so envious of the party and the feast they were having.
Peeping through the door, the truth was plain and clear, that they were sharing red and white potatoes and drinking plain tea. But they were living a life of make beliefs, just to feel good and be happy. The good thing was that they knew that they were deceiving themselves for the moment. It would be sad if they did not know that they were living a lie. It would be sadder if they were living under other people’s lie.
The logic that GST is to help the poor, foreigners to help the citizens, foreigners are more talented, new citizens are Singaporeans, like one of us, high pay to prevent corruption, high minister pay is the right thing to do, HDB flats are affordable and driven by market forces, etc etc have started to have that hollow ring.
The people are starting to question these logics and starting to disbelieve in them. No matter how often are these songs being sung or printed as the real stuff, the good stuff, the truth will surface to tell a false logic is a false logic.
I recall a story of a poor family having a great reunion dinner behind closed doors. And they were celebrating and offering each other roast pork and chicken in a very happy and generous way. And they were toasting each other with cognac. Anyone outside will be so envious of the party and the feast they were having.
Peeping through the door, the truth was plain and clear, that they were sharing red and white potatoes and drinking plain tea. But they were living a life of make beliefs, just to feel good and be happy. The good thing was that they knew that they were deceiving themselves for the moment. It would be sad if they did not know that they were living a lie. It would be sadder if they were living under other people’s lie.
4/17/2012
The myth of a vibrant stock market
If we lower the commission rate there will be increase in trading volumes which will translate into more business and more commission. When there are more foreign funds operating and trading in our stock market, trading volume will increase, more vibrancy, oh I forgot, more oomph, and sure more business, and more commission. When there are more stocks, derivatives, structured products, there will be more business, more commissions, and dunno more what.
When our stock market is linked to more stock markets, the sky will fall down, money will fall into the laps of everyone as business across the world can be done here. We will be a one stop business and financial centre and all will be doing roaring business. All the stock brokers and broking houses and all the supporting staff will be looking towards a windfall, not a downfall.
And we are nearly there, and daily trading volume is in the billions. And commissions must also be in the millions at least. And stock prices must have shot through the roof with such vibrant trading activities. The phones must be ringing non stop and remisiers will have no time for lunch. Yes, extended trading hours, no lunch break, business will go up by at least 10%.
What is real? Many stocks are now penny stocks, quite a number are worth less than 1c and listed in the main board. And where is the commission? Where are the investors and traders? Who is doing all the trading? Machines, really? But never mind if the machine can generate more trading and more commissions. Good times are here.
We have done everything right according to the norms and practices and conditions of Wall Street. We even invested in the world’s fastest computer to facilitate greater trading volumes in micro seconds. The best fund managers are all here trading in our market. Everything is going to be right. Trust me. Now be patient and wait, just wait.
When our stock market is linked to more stock markets, the sky will fall down, money will fall into the laps of everyone as business across the world can be done here. We will be a one stop business and financial centre and all will be doing roaring business. All the stock brokers and broking houses and all the supporting staff will be looking towards a windfall, not a downfall.
And we are nearly there, and daily trading volume is in the billions. And commissions must also be in the millions at least. And stock prices must have shot through the roof with such vibrant trading activities. The phones must be ringing non stop and remisiers will have no time for lunch. Yes, extended trading hours, no lunch break, business will go up by at least 10%.
What is real? Many stocks are now penny stocks, quite a number are worth less than 1c and listed in the main board. And where is the commission? Where are the investors and traders? Who is doing all the trading? Machines, really? But never mind if the machine can generate more trading and more commissions. Good times are here.
We have done everything right according to the norms and practices and conditions of Wall Street. We even invested in the world’s fastest computer to facilitate greater trading volumes in micro seconds. The best fund managers are all here trading in our market. Everything is going to be right. Trust me. Now be patient and wait, just wait.
What the train is saying?
‘Stop, stop, help, help, I can’t go on anymore.’
No you can, our population is only 5m, and we will have a few more millions coming in.
‘No, no, really, can’t take anymore. I am not designed to take so many commuters.’
No you can. The trains in Tokyo can, so why can’t you? You are only half filled, running on half capacity.
‘Stop it, I say. All my parts are starting to fall off, can’t you see? I will run to a halt if you don’t stop adding more commuters to my load.’
Don’t worry lah, a few more wouldn’t kill you lah. Those car owners who have to give up their cars will come on board soon when they cannot afford the new COEs. Take a deep breath and carry on.
“Aaaaahhhhh…….’
‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’
‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’
‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’
……..
No you can, our population is only 5m, and we will have a few more millions coming in.
‘No, no, really, can’t take anymore. I am not designed to take so many commuters.’
No you can. The trains in Tokyo can, so why can’t you? You are only half filled, running on half capacity.
‘Stop it, I say. All my parts are starting to fall off, can’t you see? I will run to a halt if you don’t stop adding more commuters to my load.’
Don’t worry lah, a few more wouldn’t kill you lah. Those car owners who have to give up their cars will come on board soon when they cannot afford the new COEs. Take a deep breath and carry on.
“Aaaaahhhhh…….’
‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’
‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’
‘Your attention please, this train will be delayed due to a mechanical fault. We apologise for the inconvenience caused.’
……..
Lim Chong Yah’s model no productivity
The main bug bear to Lim Chong Yah’s shock therapy is productivity. It is logical that before one raises the wage of workers, one has to take into account many factors, competition, costs and of course productivity. How can anyone think of getting big pay hike without complimentary productivity? The raising of worker’s income is a very serious matter and much deeper understanding and thoughts need to be put into it unlike bloggers like Redbean who would post anything that appears in his mind and in 5 minutes it is in mysingaporenews. No depth, no analysis.
I think the good professor must have spent many hours seriously contemplating on the problem and the solutions. It is not a wild shot. It is definitely a serious proposition that is supported by economic and academic considerations. An economics professor of his stature does not spout nonsense like bloggers, and his proposition should at least be placed on the tables for serious discussions. Bloggers can freely criticize anything without thinking. But to criticize the works of an economics professor who has done deep thinking before coming out with his recommendations, due diligence is needed from anyone who would want to dispense his criticism to do justice to the professor. Be respectful. Put in some effort to understand what the professor was saying before shooting off the hip.
Productivity may be an important factor in raising wages. But in the real world, wages or salaries can be raised by using other factors and considerations other than productivity. One standard methodology is to do a market survey and compare job values. And jobs of similar values should be paid similar pay. So when one is paid more, the other also must be paid more. This method is silent on productivity. It just says since you got so much, I also want to be paid so much.
Another way is to peg one’s salary to other people’s salary. Just assume one’s job is more important than others. So if other people earn more, one’s income will also go up accordingly. No need to talk about productivity. Just wait for the more talented and enterprising to work harder, to earn more, then one just tag on the bandwagon. When other people earn more, one must also earn more. What’s the correlation? Beats me. Where is the element of productivity? Who cares?
Oh, productivity is meant only for workers. Workers and farmers really produce goods of value and thus their productivity is important. When one’s job does not produce anything of value except talking cock, there is no need for productivity? Productivity is irrelevant to raise pay in such cases.
I think the good professor must have spent many hours seriously contemplating on the problem and the solutions. It is not a wild shot. It is definitely a serious proposition that is supported by economic and academic considerations. An economics professor of his stature does not spout nonsense like bloggers, and his proposition should at least be placed on the tables for serious discussions. Bloggers can freely criticize anything without thinking. But to criticize the works of an economics professor who has done deep thinking before coming out with his recommendations, due diligence is needed from anyone who would want to dispense his criticism to do justice to the professor. Be respectful. Put in some effort to understand what the professor was saying before shooting off the hip.
Productivity may be an important factor in raising wages. But in the real world, wages or salaries can be raised by using other factors and considerations other than productivity. One standard methodology is to do a market survey and compare job values. And jobs of similar values should be paid similar pay. So when one is paid more, the other also must be paid more. This method is silent on productivity. It just says since you got so much, I also want to be paid so much.
Another way is to peg one’s salary to other people’s salary. Just assume one’s job is more important than others. So if other people earn more, one’s income will also go up accordingly. No need to talk about productivity. Just wait for the more talented and enterprising to work harder, to earn more, then one just tag on the bandwagon. When other people earn more, one must also earn more. What’s the correlation? Beats me. Where is the element of productivity? Who cares?
Oh, productivity is meant only for workers. Workers and farmers really produce goods of value and thus their productivity is important. When one’s job does not produce anything of value except talking cock, there is no need for productivity? Productivity is irrelevant to raise pay in such cases.
4/16/2012
The big guns are trained at Lim Chong Yah
The big guns have been rolled out and lined up with their cross hairs on Lim Chong Yah. This is the first time that a biggie from the establishment is standing in front of the firing squad. Ngiam Tong Dow did his fair share of criticism and seemed to get away with it. In Lim Chong Yah’s case, looks like he is going to be burnt on the stake.
Given his credential as a renowned economics professor, his past appointments and contributions as Chairman of the NWC, and his connections, it is intriguing to see where the attacks are coming from. Would it turn into a free for all whereby anyone from the winning camp will start to take potshots at the professor? And if that happens, what is the story behind it?
Has the good professor fallen out of grace, going to fall out of grace, or is his shock therapy shocking people out of their comfort zones? This is an interesting development to watch. It will reveal a lot of unspoken truths as the plots thicken. It could also be another watershed, with more thinkers changing side and more stepping forward to call a spade a spade. And the final moment will come when the people realize that the mandate of heaven has been withdrawn and a regime change is on the way. By then the cards will all be opened and a new alignment of forces will take place as has been the case in history.
Given his credential as a renowned economics professor, his past appointments and contributions as Chairman of the NWC, and his connections, it is intriguing to see where the attacks are coming from. Would it turn into a free for all whereby anyone from the winning camp will start to take potshots at the professor? And if that happens, what is the story behind it?
Has the good professor fallen out of grace, going to fall out of grace, or is his shock therapy shocking people out of their comfort zones? This is an interesting development to watch. It will reveal a lot of unspoken truths as the plots thicken. It could also be another watershed, with more thinkers changing side and more stepping forward to call a spade a spade. And the final moment will come when the people realize that the mandate of heaven has been withdrawn and a regime change is on the way. By then the cards will all be opened and a new alignment of forces will take place as has been the case in history.
Two major dangers facing China
The West is greeting the widening of the trading band of the yuan with glee. They want more, they want the yuan to be traded freely like the greenbacks and other currencies. They also want the Chinese to open up their stock markets and allow the western funds to move in and convert the trading system to those of the West, particularly the Wall Street model. The bottom line, they want the Chinese stock markets to trade derivatives, fakes and worthless papers instead of real stocks.
The loosening of control of the yuan, to become freely convertible to foreign currencies and to be at the mercy of the currency manipulators is the biggest danger China is facing. It is under tremendous pressure from the West to allow the West to do as they like, as they please with the value of yuan. When that day comes, the West will buy up the yuan with toilet papers that they printed in unlimited quantities and will use the yuan to control the Chinese economy. China will then be at the mercy of the Western financial oligarchs working in collusion, and be controlled by them. They could bankrupt China at will by their complicated financial products and manipulations and the extensive network of financial players working hand in glove together. It will be a bloodless war that will destroy China in the name of free market.
The other major front is the stock markets. The western stock markets have been transformed into an unrecognisable monster and are stock markets only in name. The stocks will eventually all be worthless if the stocks listed in western model stock markets are a clue to what is happening. Many stocks are trading for one or two cents or less. What kind of stocks or stock markets would trade on such worthless stocks? There is no interest in the real stocks but in toilet papers printed with the words stocks or derivatives or other financial jargons. The base point is that they worthless and are not stocks but stock killers.
While China is in a hurry to develop its own financial and stock markets, it must not be conned into accepting the western model of stock market system and mechanism which are nothing but contrived legalised casinos with gambling chips printed with money value on them. The fundamentals of stock trading have been flushed down the toilet bowl and the substitutes are not stocks but meaningless and worthless scrips of papers, fakes.
China should go slow, develop its own stock markets based on traditional principles and conventional system, where the fundamentals are right. There is no hurry to rush into a system of madness that is unsustainable and is being kept alive not unlike a ponzi scheme. It looks good superficially but has no real value add like what real stocks are. It is the greatest con job of modern history. And like all con jobs, the bluff will be called and the system will collapse, if it has not collapsed already.
China must conscientiously guard against being duped into a freak financial system that is waiting for self destruction. If China should stupidly appease the West and unthinkingly embrace the western financial system, it will help the flawed system to extent its life a little longer at its expense, maybe giving it a semblance of rapid growth for a while, like a flash in the pan, and everything will be blacked out in quicker time, with a bigger bang.
The collapse of the western financial system is near, given its unproductive and destructive mechanism and the unjustifiable high rewards for doing nothing constructive, useful or productive. And when it falls apart, hopefully China is not another sucker being sucked into it and pay as heavy a price as the decadent West. The fundamentals of economic growth are production, productivity, creation of goods, values and real services. The western model is not any of these. It is just paper shuffling, financial engineering or tricks, accounting frauds, a complex system of unproductive con jobs. It produces nothing of value. It is conning one sucker after another to prolong its existence and delay its final ending. It cannot keep going without real economic growth and production.
China should just go on its own steam, doing what it thinks is right, keep producing valued goods for the world, and frustrate the modern day robbers and thugs and not be robbed by them. Do not fall into their trap by playing a game that the crooks have designed.
The loosening of control of the yuan, to become freely convertible to foreign currencies and to be at the mercy of the currency manipulators is the biggest danger China is facing. It is under tremendous pressure from the West to allow the West to do as they like, as they please with the value of yuan. When that day comes, the West will buy up the yuan with toilet papers that they printed in unlimited quantities and will use the yuan to control the Chinese economy. China will then be at the mercy of the Western financial oligarchs working in collusion, and be controlled by them. They could bankrupt China at will by their complicated financial products and manipulations and the extensive network of financial players working hand in glove together. It will be a bloodless war that will destroy China in the name of free market.
The other major front is the stock markets. The western stock markets have been transformed into an unrecognisable monster and are stock markets only in name. The stocks will eventually all be worthless if the stocks listed in western model stock markets are a clue to what is happening. Many stocks are trading for one or two cents or less. What kind of stocks or stock markets would trade on such worthless stocks? There is no interest in the real stocks but in toilet papers printed with the words stocks or derivatives or other financial jargons. The base point is that they worthless and are not stocks but stock killers.
While China is in a hurry to develop its own financial and stock markets, it must not be conned into accepting the western model of stock market system and mechanism which are nothing but contrived legalised casinos with gambling chips printed with money value on them. The fundamentals of stock trading have been flushed down the toilet bowl and the substitutes are not stocks but meaningless and worthless scrips of papers, fakes.
China should go slow, develop its own stock markets based on traditional principles and conventional system, where the fundamentals are right. There is no hurry to rush into a system of madness that is unsustainable and is being kept alive not unlike a ponzi scheme. It looks good superficially but has no real value add like what real stocks are. It is the greatest con job of modern history. And like all con jobs, the bluff will be called and the system will collapse, if it has not collapsed already.
China must conscientiously guard against being duped into a freak financial system that is waiting for self destruction. If China should stupidly appease the West and unthinkingly embrace the western financial system, it will help the flawed system to extent its life a little longer at its expense, maybe giving it a semblance of rapid growth for a while, like a flash in the pan, and everything will be blacked out in quicker time, with a bigger bang.
The collapse of the western financial system is near, given its unproductive and destructive mechanism and the unjustifiable high rewards for doing nothing constructive, useful or productive. And when it falls apart, hopefully China is not another sucker being sucked into it and pay as heavy a price as the decadent West. The fundamentals of economic growth are production, productivity, creation of goods, values and real services. The western model is not any of these. It is just paper shuffling, financial engineering or tricks, accounting frauds, a complex system of unproductive con jobs. It produces nothing of value. It is conning one sucker after another to prolong its existence and delay its final ending. It cannot keep going without real economic growth and production.
China should just go on its own steam, doing what it thinks is right, keep producing valued goods for the world, and frustrate the modern day robbers and thugs and not be robbed by them. Do not fall into their trap by playing a game that the crooks have designed.
The great subsidy game
In paradise, everything is subsidized by the govt. School fees, university fees, all subsidized. Hospital bills, subsidized. Polyclinic bills, subsidized. Housing, more subsidies in terms of tens of thousands or at least $60k for those earning $1000 pm. Dunno how much subsidies for the bigger flats, but must be big. Public transport, also subsidized, the latest $1.1b to buy buses and pay staff salaries. PUB bills, conservancy bills also got subsidies but called rebates.
If these are subsidies, that means the govt is paying a large portion of the bills. The cost must be genuine and that is why there is a need to subsidise. Can someone work out how much would all the subsidies come to that are paid by the govt? I think it is no small amount. Or this is already provided in the budget under Subsidies?
If one flat is subsidized by $60k, 1,000 flat would mean $60 million. And for bigger flats, the subsidies could be more. Imagine how much the govt has subsidized for 800,000 HDB flats? Add the rest of the subsidies, it could come to billions.
We should call ourselves Subsidy Paradise. I am thinking of setting up a Subsidy Club. Everything in the Club is subsidized including meals, services, retails etc etc for as much as 70%. Membership fee is $200k. Monthly subscription fee is $1000. I think this is an excellent concept. Forgot to add, Membership fee is already subsidized and so is monthly subscription fee. Members no need to worry. This subsidy concept is perfectly sustainable in the long run.
The great subsidy game is one of the key factors that allows the thousands of millionaires to live their normal lives. Without the great subsidies, the millionaires will have to tighten their belts and may go begging. Can our asset rich millionaires survive without the subsidies? This is perhaps the only rich country in the world where millionaires have to live on subsidies.
I remember that a figure was thrown out claiming that an average Sinkie would receive something like half a million dollars of subsidies in his life time. Foreigners must quickly opt to become citizens and become recipients of half a million dollars just by becoming Singaporeans. Where on earth got such a good bargain?
If these are subsidies, that means the govt is paying a large portion of the bills. The cost must be genuine and that is why there is a need to subsidise. Can someone work out how much would all the subsidies come to that are paid by the govt? I think it is no small amount. Or this is already provided in the budget under Subsidies?
If one flat is subsidized by $60k, 1,000 flat would mean $60 million. And for bigger flats, the subsidies could be more. Imagine how much the govt has subsidized for 800,000 HDB flats? Add the rest of the subsidies, it could come to billions.
We should call ourselves Subsidy Paradise. I am thinking of setting up a Subsidy Club. Everything in the Club is subsidized including meals, services, retails etc etc for as much as 70%. Membership fee is $200k. Monthly subscription fee is $1000. I think this is an excellent concept. Forgot to add, Membership fee is already subsidized and so is monthly subscription fee. Members no need to worry. This subsidy concept is perfectly sustainable in the long run.
The great subsidy game is one of the key factors that allows the thousands of millionaires to live their normal lives. Without the great subsidies, the millionaires will have to tighten their belts and may go begging. Can our asset rich millionaires survive without the subsidies? This is perhaps the only rich country in the world where millionaires have to live on subsidies.
I remember that a figure was thrown out claiming that an average Sinkie would receive something like half a million dollars of subsidies in his life time. Foreigners must quickly opt to become citizens and become recipients of half a million dollars just by becoming Singaporeans. Where on earth got such a good bargain?
4/15/2012
Faces of Agent Orange
Channel News Asia (CNA) will be featuring a special documentary on the victims of Agent Orange in Vietnam next Friday, 20 Apr at 8 pm. It is a very painful story of what this pretentious magnanimous, defender of human rights, and the advocates against chemical warfare did to the poor Vietnamese during the Vietnam War. They were so hypocritical, so freakish, to launch a war to kill Saddam Hussein for amassing WMD, including chemical weapons, when it was the US that provided Saddam with such destructive weapons in the first place. And the US is still holding on to a huge cache of chemical weapons in its arsenal, waiting to use it generously on its next victim. And the world still believes that the US is such a kind and loving country, so caring and honourable.
The programme is a must watch to see what the Americans had done against what they preached.
CBF is better
The shock therapy of Lim Chong Yah is facing immediate resistance. It is flawed in many ways. In the first place it was not a sought after advice. Nobody asks for it. So it looks like a ‘keh khian’ or smart alec type of proposal. The saying in paradise is to be smart but don’t act too smart. And do not give advice if not asked for.
The second problem with the therapy is that it is free. There is no need to pay a million or two to consult a foreign expert to work on it. Things that are free are not good. And there is no angmoh element to give it some weight?
The third flaw, it seems, is that it is from a different camp type of thing. It is like everything from the opposition is bad. Only the super talents can come up with good solutions. I can bet the next salvo of questions will be something like, how is he going to pay for this therapy? Chen Show Mao already kenna from this kind of questioning. And Tan Jee Say also got it for his $6o billion restructuring programme. Both failed because there is no money to pay for them.
Come to think of it, giving 50% increment to the pay of workers is too far fetch a dream to come true. The workers will not accept it. The workers will prefer to go for CBF, cheap, better and faster solution. That is a sustainable solution in the long term. It has been in practice with full support from the tripartite arrangement or the holy trinity. Our workers only believe in the trinity and will not want the proposed 50%. They are happy as they are.
And the audacity to freeze the salary of top talents for 3 years is unthinkable. You want them to suffer, you want their life style to be painfully affected, you want them to be quitters?
The shock therapy is a no go from the word go. Now everyone will be asking for the blood of the good old professor. He should have done the politically correct thing, freeze the worker’s and raise the super talent’s salary by 50% over the next 3 years and receive all the praises and recognition.
Meanwhile someone may be thinking of lining up a team of super foreign talents with super consultancy fee to go with to counter this outrageous therapy. It must be done as the non economists and the layman politicians would not have the credentials or ability to shaft this recommendation down the longkangs in the usual way. This therapy must be exposed and every point rebutted to show that it cannot work.
The second problem with the therapy is that it is free. There is no need to pay a million or two to consult a foreign expert to work on it. Things that are free are not good. And there is no angmoh element to give it some weight?
The third flaw, it seems, is that it is from a different camp type of thing. It is like everything from the opposition is bad. Only the super talents can come up with good solutions. I can bet the next salvo of questions will be something like, how is he going to pay for this therapy? Chen Show Mao already kenna from this kind of questioning. And Tan Jee Say also got it for his $6o billion restructuring programme. Both failed because there is no money to pay for them.
Come to think of it, giving 50% increment to the pay of workers is too far fetch a dream to come true. The workers will not accept it. The workers will prefer to go for CBF, cheap, better and faster solution. That is a sustainable solution in the long term. It has been in practice with full support from the tripartite arrangement or the holy trinity. Our workers only believe in the trinity and will not want the proposed 50%. They are happy as they are.
And the audacity to freeze the salary of top talents for 3 years is unthinkable. You want them to suffer, you want their life style to be painfully affected, you want them to be quitters?
The shock therapy is a no go from the word go. Now everyone will be asking for the blood of the good old professor. He should have done the politically correct thing, freeze the worker’s and raise the super talent’s salary by 50% over the next 3 years and receive all the praises and recognition.
Meanwhile someone may be thinking of lining up a team of super foreign talents with super consultancy fee to go with to counter this outrageous therapy. It must be done as the non economists and the layman politicians would not have the credentials or ability to shaft this recommendation down the longkangs in the usual way. This therapy must be exposed and every point rebutted to show that it cannot work.
4/14/2012
A new ministry to look after PRs and foreign talents
With the govt starting to place emphasis on the goodness of being citizens and cutting down on the privileges of PRs and foreign talents, these people will start to feel what it is like for being neglected by govt policies. Lam Pin Min is quite pro active in seeing the plight and suffering of these saviours of Sinkies and would like to see more assistance to help them. Setting up some funds to help the lower income PRs and foreign talents is a good start but definitely will not be enough. There are more than a million of them here and the problems they are facing cannot be solved by piece meal solutions.
The interests and well being of 2 million PRs and foreigners, just my guess, would need a ministry and a minister, plus minister of state and parliamentary committees to do a proper job. 2m is a big number when the locals, ie citizens, only make up 3m of the population. And for the 3m of citizens, there is a whole govt with all the ministers and MPs looking after and caring for them. It is time that a proper ministry be created to do a good job. And don’t forget, our benefactors are not here to sponge on the economy, but to help us. They need to be well looked after. If not they will move on.
As for the new ministry, the work is already cut out for it. One of the key missions is to make sure that govt policies are favourable to the PRs and foreigners and any changes must take into account their interests. Can’t imagine what the economy will be like if they vote with their legs. They can’t vote with their hands yet. Scary.
Don’t ask me where the money is going to come from to start another ministry, to pay for minister, minister of state, parliamentary secretary, permanent secretary and the whole works. One possibility is to make the PRs and foreigners to pay some kind of welfare levy to support such a ministry created specially to look after them. Singaporeans could help by subsidizing a part of the cost too, to show appreciation and gratefulness for their contributions to Singapore and Singaporeans’ good.
The interests and well being of 2 million PRs and foreigners, just my guess, would need a ministry and a minister, plus minister of state and parliamentary committees to do a proper job. 2m is a big number when the locals, ie citizens, only make up 3m of the population. And for the 3m of citizens, there is a whole govt with all the ministers and MPs looking after and caring for them. It is time that a proper ministry be created to do a good job. And don’t forget, our benefactors are not here to sponge on the economy, but to help us. They need to be well looked after. If not they will move on.
As for the new ministry, the work is already cut out for it. One of the key missions is to make sure that govt policies are favourable to the PRs and foreigners and any changes must take into account their interests. Can’t imagine what the economy will be like if they vote with their legs. They can’t vote with their hands yet. Scary.
Don’t ask me where the money is going to come from to start another ministry, to pay for minister, minister of state, parliamentary secretary, permanent secretary and the whole works. One possibility is to make the PRs and foreigners to pay some kind of welfare levy to support such a ministry created specially to look after them. Singaporeans could help by subsidizing a part of the cost too, to show appreciation and gratefulness for their contributions to Singapore and Singaporeans’ good.
4/13/2012
Lim Chong Yah’s shock therapy timely
The remisiers in the stock broking industry are thrilled by the recommendations of Lim Chong Yah’s shock therapy. Those remisiers earning less than $1,500 pm can look forward to a 50% increment in their income in three years time. That should make them quite comfortable to buy a 2 rm HDB flat with money to spare. It is like a timely intervention from heaven to this dying trade. For the time being they can shelf their plans to become taxi drivers. Just wondering if they will try to upgrade the skills of taxi drivers, or improve their knowledge in driving and be tested on driving buses, coaches and lorries, or even cranes.
Another good thing is that the remisiers can think of submitting their claims to the Skills Development Fund for upgrading courses, for course fees and examination fees. The first batch of remisiers taking the Module 6A are busily calling the SDF to enquire on their applications.
Remisiers cannot ask for more with additional training and upgrading of their skills. They will be better equipped to engage in more sophisticated products with the new knowledge they have acquired. Or they can become FTs in other countries that need their sophisticated skills.
Though it is not sure how the 50% increment will apply to remisiers whose income is from commission and not salary, it is still something to hope for, to look forward to. The only thing that they may be worried about is the possibility of more reductions in commission due to competition and lowering of business cost. If that were to happen, after 3 years and 50% increment, they may still end up making $1,500 or less.
And they have no control over the commission rate as it is now freely negotiable and freely cut when necessary to beat the competition.
Fear not, there is hope for a better tomorrow. Every remisier can still become another Peter Lim. But don’t bet on it that commission rate will be raised or business will pick up with the machine taking over.
Another good thing is that the remisiers can think of submitting their claims to the Skills Development Fund for upgrading courses, for course fees and examination fees. The first batch of remisiers taking the Module 6A are busily calling the SDF to enquire on their applications.
Remisiers cannot ask for more with additional training and upgrading of their skills. They will be better equipped to engage in more sophisticated products with the new knowledge they have acquired. Or they can become FTs in other countries that need their sophisticated skills.
Though it is not sure how the 50% increment will apply to remisiers whose income is from commission and not salary, it is still something to hope for, to look forward to. The only thing that they may be worried about is the possibility of more reductions in commission due to competition and lowering of business cost. If that were to happen, after 3 years and 50% increment, they may still end up making $1,500 or less.
And they have no control over the commission rate as it is now freely negotiable and freely cut when necessary to beat the competition.
Fear not, there is hope for a better tomorrow. Every remisier can still become another Peter Lim. But don’t bet on it that commission rate will be raised or business will pick up with the machine taking over.
Parliamentary Elections Act, Section 24
Parliamentary Elections Act, Section 24, under the Writ of election.
Writ of election
24. —(1) For the purposes of every general election of Members of Parliament, and for the purposes of the election of Members to supply vacancies caused by death, resignation or otherwise, the President shall issue writs under the public seal, addressed to the Returning Officer.
(2) Every such writ shall be in Form 1 in the First Schedule and shall specify the date or dates (referred to in this Act as the day of nomination) not being less than 5 days nor more than one month after the date of the writ and the place or places of nomination (referred to in this Act as the place of nomination).
(2A) In respect of any group representation constituency, no writ shall be issued under subsection
(1) for an election to fill any vacancy unless all the Members for that constituency have vacated their seats in Parliament.
The above is a part of our election law which many are now familiar with, especially 2A(1) which states that the President will not issue any writ for a by election in a GRC ‘unless all the Members for that constituency have vacated their seats in Parliament’. What is in this Act is very clear, no by election unless all the MPs have vacated their seats in a GRC, all resigned, sacked or mati. If one is left, no need for by election.
The legal minded and the critics have pointed out this section as a violation of Section 49 (1) of the Elections Act which provided for a seat to be filled.
The question is who drafted Section 24(2A) and what was the intent, or what was the reason behind the law?
The next question, who were the MPs who voted to pass this Act and what were their intentions? Do they believe that this is what the law should be, that in a 5 or 6 member GRC, if only one MP is left, it is perfectly ok for the single MP to look after a whole GRC? And is this a reasonable thing to do or to believe, and to pass as a law? And if not, why is this happening?
For those who believe this is a reasonable law, a good law, a practical law, a law that they themselves would support and vote for it, case closed. For those who think this is not right, that one MP cannot possibly look after a GRC and it is only fair and proper to have a by election quickly under normal circumstances, they may want to think back and ask why such a law can be written and can be passed in Parliament.
Even if a Prime Minister calls for a by election, the President can say no under this Act if one MP in a GRC is still in office. Even if a Prime Minister wants a by election, there shall be no by election in a GRC under Section 24(2A). The President cannot issue a writ for a by election. But I am not a learned legal counsel so I must be misreading or misinterpreting the law, or the reason behind the law. Mine is a layman’s unlearned and blur reading of the law. Sure wrong one. I better admit first before kenna bokok by the honourable learned counsels.
Why would an MP support and voted for such a law?
Writ of election
24. —(1) For the purposes of every general election of Members of Parliament, and for the purposes of the election of Members to supply vacancies caused by death, resignation or otherwise, the President shall issue writs under the public seal, addressed to the Returning Officer.
(2) Every such writ shall be in Form 1 in the First Schedule and shall specify the date or dates (referred to in this Act as the day of nomination) not being less than 5 days nor more than one month after the date of the writ and the place or places of nomination (referred to in this Act as the place of nomination).
(2A) In respect of any group representation constituency, no writ shall be issued under subsection
(1) for an election to fill any vacancy unless all the Members for that constituency have vacated their seats in Parliament.
The above is a part of our election law which many are now familiar with, especially 2A(1) which states that the President will not issue any writ for a by election in a GRC ‘unless all the Members for that constituency have vacated their seats in Parliament’. What is in this Act is very clear, no by election unless all the MPs have vacated their seats in a GRC, all resigned, sacked or mati. If one is left, no need for by election.
The legal minded and the critics have pointed out this section as a violation of Section 49 (1) of the Elections Act which provided for a seat to be filled.
The question is who drafted Section 24(2A) and what was the intent, or what was the reason behind the law?
The next question, who were the MPs who voted to pass this Act and what were their intentions? Do they believe that this is what the law should be, that in a 5 or 6 member GRC, if only one MP is left, it is perfectly ok for the single MP to look after a whole GRC? And is this a reasonable thing to do or to believe, and to pass as a law? And if not, why is this happening?
For those who believe this is a reasonable law, a good law, a practical law, a law that they themselves would support and vote for it, case closed. For those who think this is not right, that one MP cannot possibly look after a GRC and it is only fair and proper to have a by election quickly under normal circumstances, they may want to think back and ask why such a law can be written and can be passed in Parliament.
Even if a Prime Minister calls for a by election, the President can say no under this Act if one MP in a GRC is still in office. Even if a Prime Minister wants a by election, there shall be no by election in a GRC under Section 24(2A). The President cannot issue a writ for a by election. But I am not a learned legal counsel so I must be misreading or misinterpreting the law, or the reason behind the law. Mine is a layman’s unlearned and blur reading of the law. Sure wrong one. I better admit first before kenna bokok by the honourable learned counsels.
Why would an MP support and voted for such a law?
My First Home
‘How can someone who can’t grasp simple and straightforward concepts be in a position to manage and lead a country? Look at Prime Minister Najib Razak's failed My First Home ownership scheme and the recent decision to scrap the controversial new civil servant remuneration scheme, apart from other flip-flops.
Launch a year ago, the house-ownership scheme for low-income earners failed because banks are unwilling to hand out 100 per cent financing applicants earning less than RM3,000 a month. How can Najib fail to grasp the fact that with a gross income of RM3,000 a month, a person simply cannot have any spare cash to pay the monthly installments for the house? Surely, Najib must know that a person has also to pay for essentials such as food, transport and other expenses….’
The above is an extract from an article by Nawawi Mohamad, Wong Choon Mei, Malaysia Chronicle.
The comments were quite surprising given the similar situation in Singapore. Spending power of 3000 ringgits is roughly equivalent to $3000 in Singapore. And our govt has recently proved to Singaporeans that a $1000 income is enough to buy a 2 rm flat. And definitely our govt will also include the other essentials that the person would have to pay for, like food, transport etc. And considering the property prices in Malaysia are so much lower than Singapore even with subsidies, it just sounds not right. Maybe Najib should pay a visit to Tharman for some advice on how to make Malaysian public housing affordable to 1000 ringgit and 3000 ringgit Malaysians. I think the trick is that in Malaysia they don’t have market price subsidies to go with.
One thing right about Najib’s formula is to make sure that all Malaysians will be able to afford a first home. I think they don’t have such rulings like singles, income ceilings or whatever to mess around to prevent Malaysians from owning their first home. They care for their citizens, to have a roof over their heads. And they don’t have to give preference to new citizens over their old citizens as they don’t have a million new citizens to provide housing to.
Singaporeans are luckier, to be able to afford quality public housing marked to market with only $1000 monthly income. The subsidies really work.
Launch a year ago, the house-ownership scheme for low-income earners failed because banks are unwilling to hand out 100 per cent financing applicants earning less than RM3,000 a month. How can Najib fail to grasp the fact that with a gross income of RM3,000 a month, a person simply cannot have any spare cash to pay the monthly installments for the house? Surely, Najib must know that a person has also to pay for essentials such as food, transport and other expenses….’
The above is an extract from an article by Nawawi Mohamad, Wong Choon Mei, Malaysia Chronicle.
The comments were quite surprising given the similar situation in Singapore. Spending power of 3000 ringgits is roughly equivalent to $3000 in Singapore. And our govt has recently proved to Singaporeans that a $1000 income is enough to buy a 2 rm flat. And definitely our govt will also include the other essentials that the person would have to pay for, like food, transport etc. And considering the property prices in Malaysia are so much lower than Singapore even with subsidies, it just sounds not right. Maybe Najib should pay a visit to Tharman for some advice on how to make Malaysian public housing affordable to 1000 ringgit and 3000 ringgit Malaysians. I think the trick is that in Malaysia they don’t have market price subsidies to go with.
One thing right about Najib’s formula is to make sure that all Malaysians will be able to afford a first home. I think they don’t have such rulings like singles, income ceilings or whatever to mess around to prevent Malaysians from owning their first home. They care for their citizens, to have a roof over their heads. And they don’t have to give preference to new citizens over their old citizens as they don’t have a million new citizens to provide housing to.
Singaporeans are luckier, to be able to afford quality public housing marked to market with only $1000 monthly income. The subsidies really work.
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