When the music stops?

We are in the golden years. Full employment, high salaries. People have a lot of money to spend. Property owners can afford to sell at high prices or charge high rentals. Everyone take the opportunity to jack up their prices of goods and services. But after a few grumblings, life goes on. Taxi fares go up, ERP rates go up, GST goes up. No sweat. KPKB for a while. People will get use to the high cost. Conservancy rates go up, PUB rates go up. Never mind, got rebates. And for those who are struggling, there are the annual handouts from the govt. The budget goodies. Now, what will happen when we price ourselves out of the market system? Or if the world economy goes on a tailspin? No jobs, no fat salaries, no budget surpluses to handout, and all the rebates and subsidies expire? Can we see prices coming down? Can property prices come down, rental comes down, food and essential services come down, transport fares come down? Some can but many can't. Can the goodies, handouts, rebates, subsidies go on and on and the people keep stretching their hands out and expecting to get them? The high cost of living is likely to stay even when times are bad. Anyone heard of transport fares coming down? Conservancy fees or PUB bills coming down? Or foodcourt prices coming down? Many are committed to a higher lifestyle, higher property prices and rentals. When jobs are gone, or salaries cut, just like in the late 90s, the noose will tighten. This time even faster and tighter. It was a lesson that we never learn. There was euphoria before the bust.

Notable quotes by Leong Sze Hian

'Are there any countries in the world which have national pension schemes that exclude the bottom 25 per cent of the population?' Leong Sze Hian My answer is yes, in paradise. Leong Sze Hian was responding to the CPF Life annuities scheme that excluded those who have less than $40,000 in their Minimum Sum. And this is exactly the group that needs help. So what will happen to them when they are old and have no money and not in the scheme? Search me, I do not want to know. Not my pasar.

A positive and welcome move by Singapore

Singapore's initiative to bring economic growth into North Korea and lead the communist state into the world community is the most positive and effective way to engage North Korea. An economically strong Korea fully engaged in the world system, economics, trade and industry, and all things, will bring prosperity to its people and harmony in east Asia. North Korea could be like China and Vietnam, communist in political system but capitalist in economic development and trading with the world as another responsible nation. Such a concept is totally in contrast with the wicked and destructive scheme of the US, branding it with all kinds of hostile terms, axis of evil, arms exporter, threatening world peace, supporting terrorism, violation of human rights etc etc. Such outdated methodology was only workable in the past when the Asians were weak and ignorant or under the total domination of the western powers. Today, the picture has changed. There is no SEATO or CENTO and no colonial states. The last two semi colonies of the US, Japan and South Korea, are also trying to break free from the American control. The Asian countries must find their own reasons and meaning of existence in the new world and not be told by the Americans who is good and who is bad. The Singapore initiative is commendable but risked being derailed by the Americans. The Americans will not support it and will get its semi colonies to tow the line. Fortunately Howard has been kicked out and hopefully Kevin Rudd will not dance to the American tune. Maybe Asean can come in to give it more weight. Engaging and welcoming North Korea into trade and industry is better than telling the North Koreans to sign some scrips of paper on intangible and meaningless stuff like Treaty of Cooperation and Amity.

President Wee Kim Wee

I read a post in Sammyboy forum praising Wee Kim Wee as the humble and down to earth president that Singaporean loved. And another forumer saying that no one could get his name wrong as you could read it forward and backward and still got it right. With all due respect to President Wee, let's hope no reporter or msm is going to print his name in the western format with his family name behind his name. Fry the bugger if it is in the local press.

Charity begins at home

'Amid calls by some US lawmakers for wealthy universities to lower tuition costs, officials at Stanford University have said they will no longer charge tuition to students from families earning less than US$100K (S$140K) a year. For students whose families earn less than US$60K a year, Stanford will not charge for either tuition or room and board.... Stanford is now among a small string of top tier schools, including Harvard, Yale and Pomona College, that have taken steps in recent months to help middle class families and, in some cases, households with incomes ovr US$150K.... "We will continue to evaluate international applications on a case by case basis."....' Reuters, Los Angeles Times, New York Times, Straits Times. How would these compare to our policies on education? Oops cannot compare apple with oranges.