We need laws to protect our CPF savings

As our CPF saving is becoming an everlasting dream, getting stretching further and further into the uncertain future, the people better stand up and ask for some kind of protection that this will not become an impossible dream. It is our money and we must have a say in it and have it back as promise. Not rubber time. If we do not agree with all the recent proposal, we must say it now. Many have spoken in the media and in cyberspace. Some are going to say it this Sat, Black September Day. It will be interesting to see how many will stand up to speak for their own pockets. The govt knows that when it hits the people in the pocket they will wake up. Will they wake up this time round? The choice of black is an ingenious decision as it is a fashionable colour of the ladies. Ladies in black are every where. Many will be caught and probably didn't know what hits them when their innocent walk in Orchard Road is rudely disrupted. And this will apply to the young and the tai tais whose only interest is in fashion black and nothing else. Will be humorous this Saturday.

In the long run, we will all be dead

The new proposal to peg the CPF interest rate to bonds assumes that in the long run bond rates will perform better and CPF interest will be higher than the current guaranteed 4%. Who is the wise guy who claims that this made in heaven assumption must be true? Obviously must be some wet behind the ears talents who are still living in their dreams. Haven't we learnt that in the long run we will all be dead? Haven't we learnt that the same logic and assumption had been flouted to the people many years back and many times over, and all proven disastrously wrong? Remember COWEC scheme, a company employee welfare scheme that guaranteed a return higher than the CPF by investing this fund in stocks. The assumption was that in the long run the stocks would outperform all kinds of investments and the returns would be much higher. The fact that the scheme was buried and forgotten spoke loudly of this assumption. At one time, some analysts put up many charts and papers saying that over a 30 year period, investments in stocks would give a return of 30%. That let to the opening of the floodgate and CPF savings were poured into the stock market. There was an euphoria. But not for long. Many lost their life savings in the stock market before the long term return could run its proper course. It was a terribly big mistake and many CPF account holders were bled dry. Then this mad rush and faith in the stock market were quickly shelved and restrictions were placed to curb using CPF money in stock investment. The rest is history. Do not believe in the long run. The only certainty is uncertainty and death.

Black September Day

I have been reading about this Black September Day when Singaporeans are told to be at Centrepoint Shopping Centre and wear black to protest against the compulsory annuity proposal. It is plannd for 8 September at 4 pm I think. For Singaporeans thinking of attending this protest they must think very carefully. Will they live till 85 and beyond? If they do and they want to have some money to live by, they better not attend. Otherwise they will suffer when they do not have anything to live on. The compulsory annuity is their only guarantee for a life without worry. It is good for them. I don't think I will live till 85. And if I do, I know that I am comfortably provided. Not by this annuity for sure.

solutions to ease traffic jam

Another letter in the media suggesting how to ease traffic jams without resorting to higher ERP charges. He suggested that a few lanes be reversed to allow traffic on the jammed side to drive through as done in Melbourne. Actually all these are temporary solutions. The best and most effective solution is for the population to hit 6.5 million. By then the moment you drive out fo the car park you will hit the jam. That will deter anyone from driving. Then the obvious solution is to raise the ERP charges to $10 per pass and there will be passes at every turn. A drive out of the car park to work or shopping will easily cost $100. Would there be any jams any more? And HDB car parking fees can be raised to $300 a month as the cars will be parked permanently in the car park. And car park owners can decorate their own carparks to their own fancy as many will spend a lot of time keeping their cars company in the car parks than be on the road.

We are truly the best

Everyday when I read in the news of the resignation of Abe's ministers, all tainted with corruption and infringement of the law, I tell myself, 'How lucky we are.' We hardly have any cases of such nature among our law makers. All scandal free and upright. And the importance of having righteous men in govt, and finding them to be placed in govt becomes even more crucial when we compare ourselves to another developed country. No point comparing with developing countries. Japan's case proved that good and honest men are hard to fight, a very rare breed especially among the successful. Somehow, many gained their wealth and positions through some less than clean ways. And in this modern world when information technology makes it so easy to expose those who have done wrong, it is very difficult to hide a pair of dirty hands. Indeed we are blessed.