One week to change the world

In one week, we are entering a brave new world. The Americans are now the biggest communist country, with its banks nationalised and the govt in control of many private enterprises. State intervention instead of letting the economy running along freely under capitalist system. Govt handouts and state welfare to help the poor. In one week, the G8 countries were bankrupted, practically. All resorting to printing more monies to aid their ailing economies and the banking systems. The G8 used to be known as a rich man's club, with the world's richest as members. Now the world's richest, in terms of liquidity available in the trillions, are not in the club. These include China, India and the Arab countries. The latter should form a new G group of countries where the real money is. G8 is history. The 'diseased' Sovereign Wealth Funds, SWFs, that were once shunned by the West and kept at arms length like lepers are now the knights in shining armour, welcome by their detractors to save their arses. SWFs are now in vogue, they are cool. They have the money. In one week, Capitalism dies. The excesses and the extremism of Capitalism dug its own grave and buried itself. In one week, all the financial wizards and all the whiz kids in New York are in debt, running risk of losing their jobs, and many have been exposed as simply con men and greedy crooks. In one week, George Bush's name will be engraved in stone in the Hall of Infamy as the US President that only knew how to spend money in starting wars but forgotten that there was an economy to look after. And he broke the banks. In one week, Europe and America went around begging for financial aid. In one week, America and Europe were lost in what they could do to save themselves from the financial mess they created. In one week, the world will no longer believe that the West knows what they are doing and should no longer be in a position to teach or tell the whole how to run their economies. In one week, the power equation of planet Earth shifted.

Singapore power tariffs higher than the US or France

This the heading of a letter to ST forum by Bruno Serrien. He is asking if the power provider has done enough or their best to protect consumers from paying disproportionately high power tariff when they don't have to. So far we have heard that the current formula to price power tariff is the most efficient and equitable. Really? Spot price of crude oil has fallen to below US$90 and our tariff are still based on pay forward future oil price of US$150! Bruno also pointed out that 80% of our electricity is generated by natural gas instead of oil. So why is the formula simply based on oil price? What portion or percentage is being computed with the natural gas element or is this totally not in the formula? We need more transparency in this and the full formula to understand how it works and affects us. Are there measures to work out the possibility of buying spot when the difference is too high? Can the supertalents explain, please.

Demanding justice and fair play

Tan Kin Lian has started the first movement to lead the normally obedient sheeples to fight for justice. His petition, signed by more than 1000 Singaporeans who lost money from minibonds and notes, is asking MAS to commence investigation into the way the products were sold and whether the sellers have done their due diligence. This stamp from the American financial crisis where the culprits are still enjoying their good life from the loot they have taken from the market. We need to bring those who have done scrappy works that led to people losing their savings to tasks. These should include agencies that were supposed to do the auditing and financial reports of products or companies. The latter refers to companies/agencies that were involved in bringing doubtful companies for listing in the stock exchange. They cannot just be let off simply. They are expected to do the ground work to ensure that the companies they have researched on and auditted are sound. The interest of the masses, the sheeples, must be protected.

The assumption of virtues

Can virtues be passed down or assumed by the inheritance? Can the new employees take credits for the great works of their predecessors? Whenever we discuss about the govt, often we hear comments that the govt has done a great job and we should be grateful to the govt. Who is the govt anyway? The incumbents are the govt but not the govt that brought us here today. Ok, a few of the oldies deserve all the accolades and we should not dismiss their good work. The govt is just a nomenclature, a term for a group of people running the country. And this group of people changes over time. The fault here is that the masses tend to get mixed up with the people of the past govt and the people of the present govt and regard them as synonymous. This is far from the truth. Even if the present people in the govt assume or presume that they have done great things, the people should not accept such assumptions or presumptions at face value. Look at each and every one of them and ask what each has done that deserves greatness like their predecessors. Greatness of the past leaders cannot be passed down or rubbed down to new leaders. They must earn their spurs. And if they have not done anything great, they should not carry that air of greatness around them. Joining the party, wearing that badge or being in the govt does not automatically entitle one to greatness. Simply ask, what have you done?

The goodness of obedience

The thoughts of what is happening in Thailand today, when protestors were fighting and shooting at the police must give a great sense of gratitude that we are such a peaceful country with peace loving people. Those who still have doubts about the cancelling of the cycling event in East Coast Parkway should better appreciate the foresight of the decision. You need talents who can look a few steps ahead to make wise decisions. We did have people fighting the police in the past. But those were the days gone by. Today we have a different set of people that believe in the goodness of obedience. It is a diffferent kind of obedience, not those of a dictatorial regime, an authoritarian state or an archaic kingdom. Those were imposed obedience through the use of force or ignorance of the populace. That is one of the reason why some old feudal states chose to keep their people under educated. For with education comes knowledge and a questioning mind. The more education the people received, the more they can see falsehood from the truth and the lower will be their tolerance for inepts and bad policies. This is a little contradiction which requires a little explanation. We have a very high level of literacy in our people. Many are highly educated. But this does not bring about disobedience. In fact the people become more obedient than before. Thanks to several good men and their wise policies that brought us so far. And the people are grateful to the point that they will stand up to defend the govt against any critics. Critics are frown upon and set upon especially in the cyberspace. The kind of obedience among Singaporeans have been carefully cultivated through young and has become second nature to them. This is an achievement which many countries could not do. I cringe when I heard educators talking about teaching the students to learn critical thinking. Raising literacy in an orderly society is an achievement that many failed to appreciate. For that, our govt should receive a Nobel Price for Peace. More specifically, it should go to the good leadership. Not just anyone in the govt.