myth 62

'Money can solve all problems' This is actually another way of looking at the same issue mentioned in Myth 62. We are so rich. Temasek just announced another whopping profit of $12.8 billion! Wow, there is money everywhere. What to do with so much money? We are indeed a very fortunate nation driven by very able leaders that put us in such a privilege position. Yes there are gripes and complaints everyday as if we have severe problems that will bring the country down. Actually there are no earth shakening issues that could do us in in the near term. We have grouses just like any other countries. But ours is of a nature arising out of having too much money. And often we think money can solve all problems. And it is very easy to throw money at problems. Not much thinking needed. And that is why, despite pledging something like $10 billion during the last election (hope my memory is correct) and $500 million alone to ComCare, we are still hearing very sad stories on TV. We are still seeing people, our own citizens, living in abject poverty, living a life in misery and had to embarrass themselves in front of the whole nation, pleading for mercy, for a few dollars. This kind of problems are actually very simple problem and can be easily solved, and yes, by throwing money at them. The unbelievable thing is that so much money have been thrown at them and nothing solved. And we need to rely on charity shows, year after year, to raise a few millions for these peopel. It is really a shame.

tycoon li ka shing

'In Asia, our traditional values encourage and even demand that wealth and means pass through lineage as an imperative duty. I urge and hope to persuade you, especially all of us in Asia, that if we are in a position to do so, that we transcend this traditional belief. Even if our government structure is not yet geared towards supporting a culture of giving, we must in our hearts see building society as a duty in line with supporting our children.' The above quote is from Li Ka Shing after he received a lifetime award in recognition of his entrepreneurial achievements at the 6th Forbes Global CEO Conference at the Shangrila Hotel.

good times are back again

I just got this feeling that there is going to be a big round of pay rise across the board. Then follows by everything up and back to square one for many. And in the case of the bottom feeders, it will be sinking even deeper. How so? Let's see, everyone gets a 10% increase and everything also 10% increase. Ok the lower earners may get 10% plus $50. So that could be more than 10%. Sounds good. But all the bread and butter stuff are going to go up by more than 10%, maybe 30% or more. It does not make sense to raise the price of a 70c item by 10%, needs to round it up. A cup of kopi cannot be 77c, so make it 80c or $1, neater that way. Is this forthcoming pay rise a good thing? If I am earning a million, sure must be good, it means another $100k increase. Can do a lot of wonders with that kind of money.

myth 61

'The failsafe solution, Singapore's answer to all problems' Teachers are quitting the service in huge numbers. And teaching our young is a very important part of our national and economic development. We cannot afford to lose teachers at this rate. Quick, quick, find a solution. 'Just throw some money to them.' $250 million, will it be enough? Surely that should solve the problem. The teachers said, not enough. We want lesser work. Not exactly. The teachers just want to teach. Cut away all the administrative work or ECAs, just let them do the most important function of their profession, to teach. Oh dear, throwing money at teachers is not good enough. And this is a vital profession that we cannot afford to lose good and well trained professionals. All the investment in the training go to waste. What shall we do now? Have they heard of multi tasking? All Singaporeans are expected to multi task, to wear on 10 or 20 hats to justify their stratospheric level salaries. And now teachers are also raised nearer to that level, how could they ask to do just one thing, teach and nothing else. Didn't they know that an insurance agent is now called a financial adviser? They not only sell insurance, they are also expected to sell all kinds of financial instruments, including advising clients on their financial matters. And their commissions are cut some more. Now who is next to claim that their profession is important and overworked? Ah, the doctors. How can we forget the doctors. And the lawyers too. Their jobs must also be important. Who else's job is not important? How much more money do we have to throw at them?

tension continues to build up in the north

Khairy is reported to take his battle to Penang and using the same agenda, diverting the hate to the Chinese community, pitting the Malays against the Chinese. He is a dangerous animal on the loose. Though Badawi is a moderate and well respected gentleman, during this period he needs all the goodwill from all the communities. The way Khairy is setting the agenda and the terms of engagement, he could destroy himself and take Badawi along with him. And the Malaysian Chinese community better be more circumscribed, take a step back and do not allowed themselves to be cannon fodder again. Things can turn bad over night.