Instant citizen, instant wealth

This must be the best slogan to attract PRs and foreigners to take up Sinkie citizenship. It is not only a very attractive choice, to live in the world’s riches country with jobs aplenty, there are also many advantages to being a citizen. Education subsidy, medical subsidy, govt hongbaos, priority for children education etc etc all comes attached to instant citizenship. But all this pales in comparison to the instant cash to be made in housing subsidy. But that is not all. Getting a flat directly from the HDB and selling in the resale market after 5 years is as good as being guaranteed a return of at least 50% to 100% of the purchase price, more likely to be more as prices of HDB flats have proven to go up in 5x, 10x, 15x and 20x.

The new citizens got the govt to thank for for this great opportunity to become a Sinkie and with instant monetary rewards in the hundreds of thousands, not $300 or $400. The govt has made it so easy for them to buy a flat at market subsidized price. The govt also ensures that there will be demands for these flats at market prices which often are several hundred thousands more. The PRs have no choice but to buy from the resale market. Then the silly Sinkies who were too hurried to sell for a small profit, and after two bites of the cherry would now have to buy from the resale market.

The most pathetic group would be those disqualified by the govt from buying direct from HDB. This group would have to pay more than double the price in the resale market for being citizens of Sin. And the new citizens must thank the govt for it, for this group of Sinkies to have no choice but to buy from them, to make them rich.

Instant citizen, instant wealth. Unfortunately some Sinkies will be intant poor, or robbed to pay for flats in the resale market. How not to attract the best FTs into Sin?

A pixiu painted by Mother Nature

This is a mythical pixiu, recommended by geomancers to improve and protect the wealth of its owners. This is entirely conceived and painted by Mother Nature, not a human imagination or creation. The lines are beautifully drawn and the pixiu is full of life and appears to be flying. Its body is covered with intricate patterns and colours.

This painting is one of my exhibition at Kent Ridge Guild House.

Wah seh, the Wen Jia Bao Way

China’s Premier Wen Jia Bao is accused of corruption by the New York Times and threatens to sue the paper. But before he does that, he did the needful. He voluntarily called for an investigation into his family wealth. Can anyone beat that? Either he is clean or he is an idiot. No one in the democratic world or free world would dare to affront an accusation of corruption and to open his own house for a shake out. Many would hide, run or erase all records or regulations that could reveal their corrupt ways.

Wen Jia Bao is setting a new standard for ethical govt for the world to follow. This is the new communist and a new world standard for a clean govt. Hello America, anyone there would dare to take up such a challenge? Check my family wealth!

Am I disappointed with SDP’s NOM?

The main thrust in SDP’s housing proposal is the Non Open Market Scheme, ie buying flats from HDB and must sell back to HDB. I think this is like reinventing the wheel and trying to look clever. No need to.

Look, the problems and unhappiness are caused by the current housing policies. 1. Not building enough to meet the demands of Singaporeans. 2. Selling HDB flats to PRs, in the resale market. This is a very dangerous thing to do if the PR population is not curtailed. In the future, many public flats would end up being owned by PRs. 3. Selling HDB flats at ‘airy fairy’ market subsidy price. Stop this scam and go back to cost plus pricing.

Just address these problems. There is no need to reinvent the wheel to come up with more ‘airy fairy’ schemes if the fundamentals of public housing are put right, ie building flats to ensure all Singaporeans can buy them at cost plus and shit away with all the market forces and market subsidy nonsense. Just build more HDB flats for the people and keep it for Singaporeans only, even in the resale market. The prices will stabilize and be lowered progressively. Owners of public housing must not aspire to see their flat prices shooting to the roof like private properties. But the good news is that all Singaporeans will have a roof over their heads and not having to pay through their noses and emptying their CPF and savings. There will be money left for retirement and some finer things of living. The flat would still have real value and no need to sell back to the HDB and creating more unseen problems in the future.

The Housing Minister has made public housing so complicated and confusing. That does not mean that the solution must be complicated and confusing. Do not create new schemes that would make the situation more complex and hazy. Just work with the current system, get rid of some of the nonsense.

The solution must be straight and simple. Build more flats for Singaporeans at cost plus, not that the govt must make a loss, but with the aim of providing the citizens, not PRs, with decent and genuinely affordable housing. Not the kind of flexible affordable housing that can be stretched like rubber bands. Is this so difficult to do? Think simple. No need to think clever. When a house is infested by termites, there is no need to build another house. Just treat the termite problem. And often the problems in a country are due to too clever people in charge. What a country needs is good men and not very clever men. With good men and good intention, many unnecessary problems will not arise, like the housing woes today.

How far has PAP deviated from its original goals?

‘This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises. "We are investing to bring it up to date and you pay a token sum, the government carries the rest and HDB has been doing a fine job to give you an environment that you have today," Mr Lee shared.’ This is part of his speech during a Tree Planting session at Havelock Road last Sunday.

In his latest speech LKY recalled the original plan to give every Singaporean a home that would appreciate its value over time. This the PAP has done very well. In his speech he also touched on the pricing policies of HDB flats. ‘…you pay a token sum, the govt carries the rest…’ Is this still the case?

We must give full credit to his generation of leaders for doing what they preached and delivering them, cheap housing at a token price and appreciating home values. They have been there and done it. I think all the older Sinkies who have bought their flats during the early years will confirm this truth.

What is the new social contract?

The issue or trouble today is the mission of the new leaders. Are they still practicing the old policies of giving every Sinkie a home at cost of below cost? Are there Sinkies being deprived or disqualified from owning a home? Are Sinkies being made to pay sky high market driven prices?

The support for the old leaders for their good policies for the good of the people was genuine. Are the new leaders and their pro people policies gaining the same kind of support for the older leaders?

What do you think?

How to save the Stock Exchange

How many people believe that the Stock Exchange is in the pink of health? I think no one knows, or no one believes that it is dying, that it can go on a standstill the moment the computer traders decided to call it a day. But no, the truth is that the Stock Exchange is doing fine, doing roaring business, volume increasing, especially derivatives, and will be the biggest stock exchange soon, over taking Hongkong and Tokyo. The daily trading volume is in the billions and expanding, I think. I also agree that it will be a very big success. All the talks about retrenchment and remisiers going out of job or earning less than $2000 a month is bullshit. How can remisiers be earning less than a clerk or a taxi driver? Cannot be lah.



I think, despite the Stock Exchange doing so well, there are some things that can be tweaked to make it even better, with real trading and more retail participation instead of computer trading among themselves with no change of ownership. This boils down to a return to the basics. A stock exchange must not be turned into a casino for the thugs to do what they like. A stock exchange is for investment, long term, medium term and short term, and not for gambling or day trading only. A stock exchange must provide a level playing field for all players big and small. A stock exchange must operate a system that is fair to all players and no one must have any special advantage against others, to plug their computers into the system, to corner the market, ram shares up and down. I think these are all stated in the Rules and Regulations and by laws, no unfair competition, no insider trading, etc etc.



I cannot imagine any stock exchange would allow such violations to go on, or design its trading system to violate its own regulations and by laws. If it does, everyone will know unless the market players are all like the proverbial 4 monkeys, see nothing, hear nothing, do nothing and say nothing. If such is the case, then one can commit murder and rape in broad daylight.



There is a genocide going on in the New York Stock Exchange at the moment. But the regulators’ hands are tied as the big bankers and funds are preventing any laws to be passed to make their looting, rape, murder and arson a crime. So what they are doing at the moment is all legal, no crime.



Our Stock Exchange has adopted all the latest technology and practices of the industry and is the finest in the world, with the fastest computers that can service all the algos and computer tradings with or without retail participation. This is progress. Soon it would not need any retail participation at all. And this is what I think need to change. Retail participation may be bad for a world class super speed stock exchange that can handle millions of trades per second. The slowness of the retail and their small trades are really an irritant. So is the existence of things like remisiers, or key board operators, with little value add to the advanced and leading edge system that cost hundreds of millions.



I say if someone woke up one day on the wrong side of the bed and decided that remisiers and retail traders are needed even in a sophisticated world class stock exchange, and commission is really necessary to feed the backroom staff in the brokerage, below are a few suggestions that I think may help.



1. Separate the trading of ordinary stocks and warrants from the covered warrants and derivatives. The ordinary stocks and warrants should be traded in a closed system like before, for the small time retail traders and remisiers that are too slow and unsophisticated. The covered warrants and derivatives can continue in the present system and can be further expended to cater to the big funds and their high speed computers and algos on their own without the retail as a hindrance. They will be very happy trading among themselves instead of wasting time with small retail traders and the irritating remisiers. It is also a kind of levelling the playing field and the big funds will be most happy to take on competitive players of the same size. The volumes will shoot to the sky definitely.



2. Scrip lending must be stopped. Short selling is ok as long as traders are able to cover their own trades. But it is just not nice to ask someone who owns 1 million DBS shares to lend his scrips to a short seller for $2000 and see his share value sold down by $1m. Can investors be that stupid?





3. Variable commission rate must be normalised to prevent anyone from taking advantage of paying minimal or no commission to beat other players. Can such thing really be in practice, that big funds or proprietary traders been taking advantage of negligible commission rate to make profits against small traders that have to pay higher commissions? Cannot be right ya?. Level playing field and the regulations would not allow any party to have special advantage. If not, insider trading should also not be an offence.





4. Commission needs to be standardised and raised as this is the blood line that pays the salary of the all the remisiers and administrative and support staff, including the CEOs and operations managers of the brokerages. Without commission or little commission, who is going to pay for their salary and the overheads? See, commission is very important to keep the industry going.





5. The teeny weeny bit size is good for the machines to churn their trades. Is churning an offence? This, couple with negligible or no commission means that the computers can trade in the millions and to make profits by one single bit either way. On the other hand, the greedy little traders need several bids before they can make a little profit. The system should be modified to increase the bid size to the previous levels for the big funds and their machines to make bigger profits in a separate system detached from normal stocks. It is good for them and the small traders as well. Who does not want to make bigger profits unless, unless, the small bid size is specially designed to favour the big computer traders. This definitely cannot be. The system is definitely designed to be fair to all. Let’s make it fairer for the big computer traders by increasing the bid size, let them make more money from the small retail traders who are expert enough to trade derivatives with them without the aid of high speed computers plugged into the system. I am so thoughtful for the big computer traders.





6. Oh, no lunch break and continuous trading. I think the remisiers would not mind having a lunch break when the stocks and derivatives are traded under two different systems. Before I forget, the ordinary stock and warrant trading system must be a closed system and no one is allowed to plug in their computers to gain an advantage over the less sophisticated and cheapskate small traders that cannot afford to invest in high speed computers and software. When this system is back in place, the remisiers can afford to make less with lesser trading volumes and be quite contented. The computers and their algos can continue to trade in a separate derivative system without lunch breaks and churn as much as they like. Who cares? Anyway computers need not have to eat or to pee. In fact the Exchange should provide a non stop 24 hours trading system to please the algo and computer traders, but just spare the remisiers as they are human beings and need a break every now and then.





These are just some minor changes that I think could make the stock exchange even better and healthier. This is free advice, no need to pay big consultation fee unless a comprehensive and detailed proposal is needed.

The Art of RAR

The most compelling story of a new photopainting technique developed by a Singaporean is waiting to get some notice from the local art scene and the critics. I am still promoting this new art form/technique locally and if I fail to get any support or notice, then I would have to go out of this little island to seek the attention of the world. While our local critics and reporters are busily covering the works of foreign talents, incidentally my work was first featured by a Malaysian lifestyle magazine, the Essenze, a couple of months ago.

The most remarkable feature of this technique is that I could create many pieces of artwork, on paper or canvas, just by pointing my camera to a pond of the water. With proper set up, I could create many never seen before paintings and concepts that no human artiste could think of.

My work is a collaboration with Mother Nature with the latter doing the conceptualisation and the main features of a painting and I doing the finishing touches. These unique and revolutionary paintings are now on show at NUSS Guild House at Kent Ridge till 21 Dec 12. More than 30 pieces of my work are being exhibited and all are welcome.

Admission is Free.

Is Sinkieland a cheap third world joint?

Is Sinkieland a first world city or a third world joint? Are people and companies coming here because they see value in this island that could make their investments worthwhile as a package or just a cheap joint for low cost industries?

The picture painted is that this is a first world city where the talents of the world would like to be. And from the statistics on the huge influx of foreigners into the city to work, to become PR or citizens, this must be a choice place to be in. Surveys by international agencies also supported this view that Sinkieland is top choice for expats living and working.

If the finding is real, the city need not worry about companies setting up operations here and threatening to leave if foreign labour or half baked talents are not available. The city should be able to pick and choose and tell those companies that think low cost labour consisting of foreigners is the comparative advantage to set up operations elsewhere. But if we are being deceived and the reality is that this is another shit hole that no companies would want to locate here unless they can bring in third world cheap talents, then we have a serious problem to think about.

What is the truth? Is the city being held ransom by cheap labour intensive companies or really a choice destination, with good infrastructure, rule of law, ease to do business etc as the trump cards that put low cost labour as irrelevant?

One of the truths is that the high cost of operations is at the top and high rentals. Thus anything below top management has to be cheap. This makes sense to recruit more cheap foreigners to fill the ranks. And the reports that Sinkies are a minority in many foreign owned companies here is true. What choice do Sinkies have?

Are sinkies prepared to be a minority in the workplace eventually in the little island they called home? And not to forget, foreigners depressed wages but cost housing prices to go up, as well as cost of living. They are tearing away at the heart of Sinkies basic concerns.

Incestuous relationship and self gratification

The natives of Sin should stand up to applaud Prof Tommy Koh for his vocal support to the lonely voice of Prof Lim Chong Yah in his call for narrowing the income gap and inequality in our society. And thank the ST for publishing his view on this. One or two individuals, no matter how distinguished, could not make any ground against a pack of hyenas. There is an urgent need for the intellectuals with a conscience to stand together to make the voice heard.

In his article in the ST today, Tommy Koh was hitting hard by quoting British PM David Cameroon’s comment about incestuous relationship in high places, ‘I scratch your back, you scratch mine’ in the UK. Among the pseudo elite who are there to protect each other’s interest and pocket, there is a race to pay one another as much as they could. This kind of self gratification or in colloquial terminology, ‘pah chiu cheng’ is getting so serious and prevalent that it has become a norm. The elite thought nothing of it, that it is their right of passage to richness and instant gratification.

The pseudo elite are not blind or stupid. They knew exactly what they were doing, selective objectivity. Tommy Koh quoted the choice of using the flawed American model to pay themselves crazy instead of the more conservative Japanese model when the loot is much smaller. It is so glaring that the American model is running down the American and the world economy, but the pseudo elite are turning a blind eye to the dire consequences awaiting. They refuse to acknowledge or discuss the flaws of the system as long as they can continue to ‘pah chiu cheng’ and have a good time at the expense of the other extreme end of the social economic spectrum.

Tommy ended his article by saying, ‘In conclusion, I wish to thank Prof Lim for being our moral conscience. He has reminded us that our mission is to achieve growth with equity. Our mission is to build a fair and prosperous Singapore. What we have achieved so far is a prosperous but unfair society. Prof Lim has warned us that we have deviated from our original path and that we are dangerously close to a point when our inequality could adversely affect our cohesion and harmony.’

Thank you Tommy. To those elite with a conscience, Tommy added, ‘those at the top, should, however, reflect deeply on Prof Lim’s proposal and on their responsibility to society.’

Unfortunately many are busily trapped in the act of ‘pah chiu cheng’ and have no time to reflect and simply shoot off their hips at the proposal of Lim Chong Yah, without taking their attention off their act of self gratification for a moment. Just wait for the hyenas screaming in chorus to attack Tommy this time.

I don’t want to be a cab driver

Official media are written by paid professionals who carefully checked and verified their facts before printing. They even have editors and proof readers to go through their writings before appearing in prints. The quality and credibility of official media as far as factual reporting is concerned is unquestionable. Who would believe that NYT or Washington Post or CNN or Foxy News etc would print half truths or misleading articles to con their readers? No, they are very respectable media according to their believers and followers.

I was so convinced that a cab driver can earn $7000 per month less cost, which means his gross income was likely to be more than $10k, that I wanted to upgrade to become a cab driver. I am so lucky that I also read the unprofessional media written by unpaid and unprofessional bloggers. They are saying that this $7000 cab driver is a fake. Now I have to choose to believe the unprofessional whose information, not news, seems to be more reliable.

I am now changing my mind. I am not going to be a cab driver. I was almost taken in by a temporary or occasional truth. I am so gullible. Thank God there is the social media to counter check to find out the truth before I make a grave mistake with my career change.

The flexible truth

We have all been convinced that 30% of household income is the reference for affordable housing. What does this number really mean? To begin with, household income can be one income family, two incomes or several income family. This part is really very flexible and can be anything. The problem with the number of income in a family is that it is not a certainty and can vary over time. But the house/flat, when bought, the amount to be repaid in a 30 year mortgage is inflexible and will remain the same. So one day it is affordable within the definition of 30%, the next day could be very affordable or very unaffordable.

When breaks up, when children got married and left the family unit, the affordability reference can change drastically. Same as when a household loses one or more incomes. The affordability can become meaningless.

The other issue of this affordability is the rubber band of time. To be stretched to 30 years, 50 years or 100 years to be affordable is a playing of rubber time. This kind of interpretation of affordability is treacherous and deceiving and can be adverse to the home buyers.

What about the type of housing, rental or bought, 30 year lease, 60 year or 99 year lease, or freehold? Comparing a 99 year lease with freehold and using the same yardstick of 30% household income surely would make the meaning quite different. When a 30% income is for the purchase of a freehold property, and applying it to a 99 year leasehold, it is like comparing apple with orange.

Would the type of properties or size of properties matter in this affordable formula? 30% to buy a 1000 sq ft unit and a 500 sq ft unit surely must be quite different as the quality of living condition will be affected. To make this clearer, look at yesteryears fresh graduate spending 30% of his income for a landed property and today’s graduate spending an equivalent percentage to buy a 99 year leasehold shoebox flat. It is affordable in both cases, but are they the same?

This flexible truth is now being waved daily to tell the Sinkies that housing is affordable. Is this kind of truth acceptable and responsible? What kind of credibility is the person spouting this kind of reasoning? Is his or her intent honest, sincere and well meaning?

The testimony of St George

The ST gave George Yeo half a page of coverage and a great and adorable photo as dessert. George has put on weight, his hair is growing and getting darker. He is not only looking younger, he is looking more relax and happy, yes, genuinely happy. Life must be good for George in the private sector. His fallen from grace could be like the blinding of Paul to help him see the truth. At worst, George is now spared from the daily curses of ungrateful citizens.

The interview and George’s comments were very interesting. The more interesting part is not what he said but what he did not say. For instance he said, ‘When I look back on my various portfolios, there were opportunities to do good.’ He did not say whether he seized those opportunities or he did not. Later he added that he had more freedom now, and less of that constant pressure.

On the issue of credibility he added, ‘In the old days you’re protected by ritual, by hypocrisy, sometimes by ignorance. Today, it’s no longer possible. If a picture is too perfect, you know it can’t be real.’ Wow, in these few words he said so much. Great George!

How could people be protected by hypocrisy and ignorance? This is very interesting. Can hypocrisy really protect anyone? Or can anyone think he can be protected by ignorance? The part about being too perfect is just too much to be true. It is like the picture perfect Avatar Garden, so perfect, and yes, how real is it?

Singapore as the perfect city of growth and development is just perfect, economic growth every year, like 15%, a world record, property prices can only go up, the people all becoming millionaires, salary can only go up to make sure that all the properties are affordable and the people will have so much money in their CPF to live a rich and happy life in retirement when they are 100. Everything is so perfect.

It is great to read George Yeo in the ST in such a favourable mood.

Asia at the cross roads of being being enslaved by the Evil West again

The troubles, crisis and wars in Asia in general and in East Asia and South East Asia in particular have all been instigated and churned up by the Evil Empire, USA. The evil and satanic white American politicians in the White House, the Pentagon and CIA can't bear to see peace and prosperity in Asia especially East Asia.They fear illogically that the rise and prosperity of East Asia will relegate USA to rank behind Asia eventually. So, they try to change the natural trend of events of the rise of a peaceful and prosperous Asia by evilly engendering crisis after crisis in creating proxy wars through creating fears,  suspicion and dissension and playing constantly on the psychological fears among the unsuspecting Asian countries , hoping thus these perennial crisis and wars will push back Asian development and prosperity and allow the Evil Empire to pretentiously play the good guy and gain power to lord over all Asian countries again. Asian countries especially India, China and Japan must rise above their narrow interest to unite and build a prosperous and harmonious united Asia and be aware of the wicked insidious schemes of the West headed by the Evil Empire, USA .  Asians must either unite or be enslaved by the satanic Evil Empire, USA and the West again.

Southernglory1
1st November, 2012

Comparative advantage of a FT in Sin

Sinkieland is not only a paradise, a Disneyland to the FTs. It is a gold mine, like the gold mountain of California in the early 20th Century. Every poor peasant would risk life and limbs to go the beautiful country called America. Singapore is everything a FT can ask for, especially those from the third world countries when the comparative advantage is simply too good and too many. In America of old, they were exploited, discriminated, the govt and system were hostile to foreigners. In Sin, the foreigners were welcomed with open arms, govt budgeting funds to help them to assimilate to the new environment and people. The govt treats foreigners even better than the locals. Many came for top jobs, replacing the locals with full blessings from the govt, as foreign talents. What more do the foreigners want?

Take the cost of bringing up and educating a Sinkie here compare to those from the third world, the latter costs nearly a pittance to the millions needed to bring up a child. The cost here ends up with every child a losing concern. For a FT from a third world, it is big profits, plus exchange rate advantage, the return is unimaginable.

And the education of a child, the education system and infrastructure there and here, a Sinkie child will be given the best in education, but the sickening thing is that they are found not good enough compare to a third world product who could even be bossing him all over. The straight As that our students are getting must be fictitious that even our employers, both private and govt, don’t see them any up. Someone or the employers must be thinking that the grades are all fixed up while the grades of third world products are genuinely good, excluding the fake degrees that are not discovered.

The third world FTs are here for an upgrading, upgrading everything, from lifestyle, housing, income, jobs, status etc etc, it is all one way, up. The natives or Sinkies are also one way, down, except for the rich and powerful. Sinkies are downgrading in everything, in income, in lifestyle, from car ownership to public transport, from good paying jobs to driving taxis or as self employed agents, from landed properties to non landed properties, from bigger flats to smaller flats, from managing foreigners to being managed by foreigners, from renting rooms to foreigners to renting rooms from foreigners, from employing foreigners to begging to be employed by foreigners, from defending our country to defending foreigners. And people on the streets, from being kind to foreigners to being beaten by foreigners.

What is happening?

Having children is a bad economic proposition

When one looks from the angle of profit and loss or the yield of an investment, having babies is a bad gamble. Statistically, only the top 20% of a cohort would be making decent returns in terms of profit. Maybe 30% will break even and the rest outright losses.

Let me show some numbers. Bringing up a child will easily cost between $500k to a million or more. Giving an expectation of 5% per annum return and a productive life of 30 years, the return should be 150% plus cost. A million dollar upbringing cost would need a return of $2.5m and a $500k cost will need a $1.25m return. To earn $2.5m a Sinkie must bring in an average of $83k pa for 30 years. How many average Sinkies could earn this amount? For a return of $1.25m the average income should be $42k. This is likely to be the bulk of the average Sinkie’s income.

Put the money in properties, a $500k investment over 30 years is likely to give a return of 10 or 20 times, capital gain and rental income. This means between $5m to $10m in the Singapore context. Why would people want to indulge in the precarious and risky venture of child bearing for so little return and so many angsts?

Bringing up a child can be a bad dream, some a nightmare, and worst, could be a life time of hellish experience. To make things more disgusting, you have a govt lusting at every child as a digit to contribute to economic growth, to pay for someone’s sports car or multi million properties, and to defend and die for dunno what.

When everyone is looking at child bearing from the economic point of view, it just does not make sense to bring up a child. It is too costly, and to most parents, a losing proposition. Many would have to write it off as bad debt or capex to be depreciated over 30 years if lucky, or a lifetime of cost incurring negative asset. Does anyone look at a child as a new life, to be cared for, to be loved, to be provided for, to live life and to enjoy life, instead of becoming any inanimate cog in the economy?

What is the purpose of paying foreigners to represent Sin?

The govt is still paying a lot of money to foreigners to represent the country in sports. No doubt some have taken up citizenships before donning on the national colours. Would it be better to spend the money to develop and train our own children, our own stocks, to represent the country?

Yes, the table tennis team won two medals for the country at the Olympic Games. So what? Where was the euphoria and the pride of achievement, that we won Olympic medals? The victory seems so hollow. It was as good as forgotten the day after.

When would the govt start to think Singapore, spending money on our own children, giving jobs and opportunities to our own? Or shall we continue down this path of paying good money to foreign sportsmen at the expense of our own kind just to look good, or giving good jobs to foreigners instead of foreigners creating good jobs to jobless PMETs?

How many millions of dollars have the govt spent and will continue to spend on these foreigners, some PRs, some turn new citizens and some still non citizens. Do we need to spend this kind of money, or want to spend this kind of money? What is in it for us? So that we can go to London to cheer them on?

Have you seen a PSLE child cry?

The PSLE results are always met with joyous celebration and recognition for the bright little boys and girls who have done well. The parents will be proud, the schools and teachers will be proud, the community will be proud too of the children’s success. How many people will notice the little boys and girls sobbing in the corners, starring blankly at the result slips which said, failed, or average, no good?

At the tender age of 12, little children must face a devastating blow of knowing that they are NG. When the parents are understanding it may be a consolation. When parents are unreasonable and daft to place all hopes and desires on the poor child’s PSLE result, life can be very miserable. Many children will live in fear when the results are not up to their parents’ expectation.

Is it fair to put the poor young things through such a traumatic experience when many did not really know what is going on? Actually, for those who are less sensitive and a bit dull, it is a blessing. It is those that are aware of the hopes and wishes placed on them by their parents and knowing what the parents want and what it means to fail to achieve that will face the full might of being a failure at such a young age. And they would not know what to do, and who to turn to. The sight of their disappointing parents could be so frighteningly cold and ruthless.

I am no expert in child education and child psychology or schooling. I can only express my feelings for putting little children through such a pressurizing situation and the trauma they must faced, alone, no counseling to ease the pain and fear. As adults, are we being too cruel to the children because we think it is good for them, or because we don’t bother to think and look at how things will affect them emotionally and psychologically from their perspectives? Children can feel hurt and rejected too.

Would it not be better to delay this big cut to a later age when the children are older and stronger mentally to take the blow? The assessment of children at PSLE level and the stakes involved have put a lot of pressure on the parents and children, and many would have their childhood deprived, just to make the mark. Can the system be tweaked to delay this assessment and allow the children to grow up as children and load the pressure when they are in their teens?

No doubt some kind of assessments must come their way to shift out the better from the less academically inclined. Must it be done at so young an age? Would it make any difference to do it later and let parents and children have a more enriching life when the children are growing up, to have a childhood to hold dear to?

Can the PSLE be scrapped and children be allowed to remain in the same schools till Secondary Two when all the streaming can then come in? Admittedly such a major change would affect a whole complex system of education and the infrastructure that is supporting the system. It is a massive task to change and many lives and jobs and systems will be affected. But if it is for the better, no matter how mammoth the task is, how arduous the problems, it is worth the effort to change.

We need to be kinder to the children. Putting so much burden and responsibility on a 12th year old is too much for the child to bear. The adults are simply too ruthless in their expectations from little children. Then again all the talks about kindness and graciousness are mere talks, aspirations, not to mean anything. Let’s talk economics and growth. Children are invisible and cannot feel pain, hurt or suffering.

All residential properties will be 99 years

Someone commented that the most effective measure to bring down property prices will be to convert all residential properties to 99 year lease. No more freehold, no more 999 years leases. Such a scenario or idea will send shivers down the spines to the landlords, the rich and powerful that have hoarded multiple freehold properties to last till perpetuity. Their ambition was to protect their wealth, to continue to be theirs longer than the life of dynasties that do not last a couple of centuries.



The ground rule has been designed by the rich and powerful to ensure that their family fortunes will last forever, or at least 999 years. That is normal as anyone in a position of power will only think of their own interests first. In many third world countries, the assumption to political power is like owning the right to be rich, to build their family fortunes.



Converting all residential properties from freehold to 99 year lease is unlikely to happen in the near future. No way will the rich and powerful allow this to happen as long as they are in control. Reality will see them consolidating their interests and wealth even more firmly, to the extent of being enshrined in the constitution.



The rich and powerful will continue to amass their fortunes in freehold properties. And with the removal of estate duties, there is nothing to prevent them from keeping their fortunes for many generations to come, forever. The new rich too will be doing the same, acquiring whatever freehold properties they could lay their hands on.



The unfortunate part is that the number of freehold residential properties is limited. A time will come when there will be hardly any left for the newcomers. The other unfortunate development is that the new rich and powerful would likely come from the HDB flat owners or 99 year leasehold owners. The super rich and powerful cannot be blessed with good fortunes forever. It has never been the case. All the good things must come to an end.



When the latecomers find themselves fenced off from the freehold properties they so desired and untouchable, it will be their turn to fiddle with the laws to give them a chance to acquire them. When all the freehold properties are no longer available, and no new freehold properties can be created, the new power brokers are going to do things to get a hold of the freehold properties. If they can’t buy them, they will change the laws to get them.



One possibility is to amend the land/property ownership laws to make all residential properties 99 years. If such a change takes place, no one needs to bother about estate duties anymore. The wealth and fortunes of the old rich will be recycled more regularly and the cycle is shorter. And it will be their own selfish wrong doings, to corner everything for themselves to the point that the new rich and powerful will be left with nothing but force to manipulate the law and the system to get what they want. By then the situation will be so ripe for a property ownership revolution.



It can happen and will happen when the new rich and powerful are shut out from their desires and wants. In human nature, all schemes are designed to self destruct no matter how superficially brilliant they appeared to be. Because of greed and selfishness, all such schemes will breakdown eventually.



What could be used as the excuse is the need for more land with an increasing population. The Land Acquisition Act will be reintroduced to acquire all landed properties in the Bukit Timah and Tanglin areas for redevelopment. The interesting part will be that these properties would by then be worth several hundred millions each and the govt of the day would not be able to compensate them adequately. History would be re-enacted when such properties would be acquired at a pittance to the govt on grounds of national interests. The carefully crafted laws and social political system to protect these properties till kingdom comes will go up in a wisp of smoke. Why not, when empires and dynasties could crumble, why can’t such inequitable laws make ways for a more equitable system? The more intractable is the system, the more unjust it becomes, the faster it would be done away with. The law of natural justice and social justice must prevail. Man proposes, heaven disposes.

I want to be a cab driver

The glorious reports of cab drivers earning $6k to $7k must be very attractive to many out of job PMETs. This used to be peanuts at one time. But today, with a stock market that is dying and performing worst than a fish market, when the income of many remisiers is less than a fishmonger or butcher or vegetable seller in the wet market, becoming a cab driver is now an attractive option. I am seriously thinking about this and would have jumped in if not of the risk of being beaten up by a drunk or murdered by a desperado. There is no need to risk life and limbs to be a cab driver. Leave it to the younger heroes that could defend themselves when attacked or their youthful bulk will keep the attackers at bay.

How about being a school teacher? Read that there is a great advertisement flying in Australia that our MOE is recruiting experienced teachers from down under. Some commented that with so many PMETs available, and a few thousand remisiers waiting to join the queue, perhaps MOE may want to send its flyer to these professionals who are also armed with quite a few pieces of papers and a mountain of life experiences to share with the young. Would not the MOE pick on our locals to educate our young or prefer to choose from some unknowns who would expect to be paid more than the locals, with housing and relocation allowances added?

I may seriously thinking of sharing my blogging experience with the youth in schools if I get an invitation to do so. Oh, I also got history as my background, having done some lecturing in National Education at one time. I may be an old ginger but physically fitter than many 50 year olds. Maybe MOE is specifically looking for the breath of experience that foreign talents can bring to educate our young with a new set of values and outlook in life. I have so many things to impart to our impressionable young, and to teach how not to cross OB markers as well. Or I may apply to go for retraining to be a masseur or a male nurse or to assist as a helper in a nursing home or hospice. Think of it, there are plenty of jobs available for unwanted PMETs. Just go for some training to downgrade the expectations.

Why the obsession for FTs?

Many CEOs are chirping and blowing their trumpets about the virtues of recruiting foreign talents. We need talents from all over the world, with a world view, with diverse views, to grow, to be competitive and innovative. Sure, when your company is an international company competing in the international market and needing an international team of staff with cross country knowledge and information to keep the company in touch with the rapid changes overseas. No body can argue against that. So Citibank has a very international staff, recruiting people from all over the world, as they have branches all over the world.



Why does a local company with local operations and local interests like the SMRT or the NTUC need foreign talents? For what? Why would the ministries, the stats boards or GLCs need foreign talents, to be international in their staff composition, to look international, to show people they are international when they don’t need to? There may be a need, an important need for some companies or institutions to want an international outlook, an international perspective that only foreigners and foreign talents can provide. But many do not need to do so. And this is simply commonsensical in a local operation when the customers are locals. Even banks like Citibank do not need to fill its staff with foreign talents when the branch is serving their own locals, in the cities or counties.



The obsession for foreign talents must not be allowed to become a blind fetish fad, a nice to have thing. Hiring foreigners must have clear and distinct objectives, a comparative advantage. Foolishly hiring foreigners for foreigner’s sake has an economic cost, a social cost and also a political cost. When our citizens are unemployed, especially the qualified, this is going to turn into a serious problem for families and the downfall of a govt.



In the medical industry when there is a shortage of local professionals, there is a need for foreigners to fill the vacancies. The doctors and nurses, preferably local to be able to relate and communicate with their patients could come from foreigners and with acceptable consequences. There are many jobs and professions that don’t need foreigners. Such companies and organisations are pretty obvious and when they do employ foreigners they will stand up like a sore thumb when locals are available. Worst, such institutions may be national in nature and have a national duty and responsibility to its own citizens.



The other big danger of padding the top management with foreigners is that the organisation could be hijacked and turned into their own fiefdom at the expense of the local owners. Citibank and many MNCs are good examples of being hijacked by their international crews and lost their identity and purpose of who they are and whose interests they are serving. The Americans and Europeans are facing this problem when the MNCs uprooted and left America for greener pastures.



The govt should seriously come out with a policy to curb this wanton recruitment of foreigners for the sake of looking international when there is no need to and when the local PMETs are left redundant, left in the lurch. I am referring to local and govt linked companies or govt institutions and ministries. For goodness sake, why do you want a Greek god as your PR man or Jolie Angeline as the receptionist for companies like NTUC or SBS or Pasar Malam Incorporation? Or why would you need a foreign accountant in your backroom? Your domestic operations and businesses do not need foreigners or foreign talents for their world views and perspectives.



There must be a place for the natives and for the natives to be gainfully employed with dignity and pride as citizens of the country. They must not be treated as expendables to be discarded ASAP when a FT is available.