A new ministry needed

Between having a minister just to look after the ageing population, I think it is more urgent and important to have a minister to look into the rising cost of living. His job is how to lower the rising cost of living and not just to monitor for fun and ended saying nothing can be done. BSE not accepted. It will be cost effective and money well spent to spend another few millions on a minister who can arrest the runaway cost of living and help the lower income group in general. If he can't do that, fire him and replace with another until one who can do the job comes a long. And the report card must be handed out annually, not wait for 10 years to see the result.

Mother's wisdom

Siew Kum Hong wrote a thesis on why and how the use and misuse of the CPF are draining the retirement fund of the ageing population. He lamented that the govt should not use the CPF as a tool to manage the economy and the contribution rate should be restored to 40%. All the reasonings are sound and rational. It is a rational plea. But isn't a saving of 40% of one's income very high? How many countries in the world has this kind of savings? Would 20 or 30% be already a very generous sum? Why is it that other countries with much less savings than us, I mean the developed countries, do not face such a serious crisis? Where is the catch? I remember my mother's wisdom, told to me when I was a kid. She said it is not how much you earn (or have), but how much you spend. This simple truth is still as relevant as today. People live with what they have. Who is the clown that insist that people must have $120k or more to retire? Didn't he know that people can live on $260 pm with totally no other sources of income? Just because there are a lot of people who go around saying 'What is $10 million?' does not mean that everyone is expecting to live that kind of lifestyle. The govt cannot and should not dictate how much people shall have to live their lives. The govt may, in it's honest and good intention, legislate for a minimum sum for basic living. Those who want to save more, good. It must be voluntary. It is ridiculous to demand that people, and for that matter, everyone, the haves and the have nots, to have at least $120k in their CPF savings. It is not how much you have. It is how much you are spending. Idiots. And if govt policies is to price everything according to affordability, the $120k will definitely be not enough. It will become nothing with the rapidly rising cost of living.

Millions of visitors

This is the seventh moon and I am getting terribly paranoid. Both Redbeanforum and mysingaporenews appear to be infested by millions of visitors that it is extremely difficult for me to log on or to post. The waiting time and interruption are frustrating. I can visit any site quite easily except these two. I hope my forumers and bloggers are not having the same frustrating experience as I. Please log in and let me know if you have the same problem. Maybe things will get to normal after this month is over. Maybe all the good brothers will go away. Maybe.

Singapore 2037

Singapore is a beautiful place. Take a walk at Orchard Road or Raffles Place and you know what I mean. No, not the beautiful shops and shrubs. Beautiful faces everywhere. Young, healthy and vibrant. This is the star attraction of our city. A young city of young and beautiful people. Fast forward 30 years. All those who are still around will probably be still around. Thanks to our world class health care system and the medisave. And the employment for the oldies would have been in full swing. Then take a walk at Orchard Road and Raffles Place. Eeeeeeeeeee....!!!!! Horrors of all horrors. Where are the beautiful young people? Why are there so many ancients and zombies walking around. And many on wheelchairs! What happen? Why aren't we remain a young and beautiful city any more? Quick quick, do something. Get rid of the ancient monsters. They look so horrendous, so out of place in our beautiful Orchard Road and Raffles Place. Will you be one of them? 30 years from now.... : )

When the next economic crisis hit

Our cost of living is up. Inflation is up. Housing is up, rentals up, everything up. But all affordable. Salary up also. Where got problem? An average Singaporean is strapped with all kinds of hire purchases and mortgage loans. Their lives depend on that monthly income. What happens if he loses his job? When the next economic crisis comes, cannot run, cannot hide. Singaporeans will face the same bad loan crisis in the US. People who lose their jobs will all become defaulters in a matter of months. And we will have our subprime loan, or triple AAA loan crisis. Don't bet on it. With the high cost of living, no one can afford to lose his job and survive. Without that income, he will be debt ridden within months. Worst than the third world countries. They are poor but debt free, actually. They live within their means. We are living beyond our means with everything under mortgage or HP or credit.