Give the people a stake in the country

This was the magic formula of the first generation leaders in the early days of our history. They really built affordable, I mean really affordable, HDB flats for the people to live in. A 3rm flat in Queenstown cost about $7000! Ok, for a better perspective, that was a time when a teacher would probably be getting about $500 pm or $6000 pa. Today, a 4rm flat is $450k against a teacher's pay of $3k, $45K pa. Affordable! What has gone awry with this magic formula? Isn't it good that the flats are now costing half a million or 1 million? Don't the people feel richer with all the asset inflation? The trick then was that the people can live comfortably with their $7k flat while other costs were also relatively low. Living here was comfortable and manageable when compare to living in other countries. Today, living here is a big struggle even with a half a million dollar flat. Everything is too costly relative to options in other countries. The previous magic formula attracted people to want to stay here and have a decent living. The new formula says you will be better off selling what you have here, collect all the cash and move on to a relatively cheaper country where your wealth can be multiplied several times over. Yes, the system is designed for the average citizens to sell out and move out. The option of staying behind is a life of struggle to make ends meet while bragging about being very rich in the CPF and a half a million dollar flat. The new formula is flawed. Or maybe it is intended that way. Make your money, grow your assets, then go away in your golden years.

Dependancy on govt help

This is the stereo typed impression of Singaporeans. When they are in trouble, they will look to the govt for help. And this psyche is perpetuated by a govt that persistently insists to help, no matter whether help is wanted or unwanted. Very often help is shafted down into the throats of Singaporeans, like Peking Duck. We shall call it compulsory help. This dependency is so ironic. There is another dimensionally opposed view on this, that the Singaporeans do not want the govt's help and it is the govt that is insisting to help. Then on the govt's part it is telling the people that they should not depend on the govt for help. This is not a welfare state. But welfare keeps flowing out even to middle class citizens. It is really getting crappy and creepy. And we always compare ourselves with the more entrepreneurial and independent Hongkongers. The Hongkongers are admired for their streak of independence and for looking after themselves, not depending on the govt. The recent minibond issue has turned these perceptions upside down. The HongKong govt came out immediately to protect its citizens from the debacle, calling on the banks to act fast to buy back the bonds. On the other hand, the Singaporeans were expected to look after themselves and fend for themselves. The govt or authority only responded several days after the cries for help have subsided into a whimper. The Singaporeans were as usual looking up to the govt for help but must have been disappointed. And the usually responsive govt, always willing to help, insisting on helping the people, was slow in reaching out to the people. Strange developments and a rethink is needed on these new developments.

A desperate cry in Hong Lim

I was at Hong Lim Park this evening to soak up the mood of the victims of the minibonds and high notes and low notes. There was a little sadness, a little despair, and a little resignation in their faces. Many of these people would not have known how to go about trying to seek recourse for their plight. They need a helping hand. Now who can they turn to for help? Fortunately there is Tan Kin Lian who took the initiative to clobber up a petition for these helpless senior citizens. And Goh Meng Seng was there to repeat Kin Lian’s speech in Mandarin. I think there was still a group there that could only understand dialects and they found it necessary to be there. I wonder what would have happen to these people if Kin Lian had not taken up their case. I wonder whether the case would have been closed and forgotten, nothing heard except a few whimpers in cyberspace. You took your risk, made your decision to invest your money, who can you blame? One corner would have said this to them. Can Singaporeans afford to remain voiceless when they are in trouble? This case is a good example of how things would have turned out, or turned down, when Singaporeans simply accept that it is water under the bridge. Caveat emptor, they went in for higher returns and must bear the consequences of their decisions. I think this case would be much stronger if some MPs were to give Kin Lian their support by appearing at Hong Lim Park this evening. It was also a great opportunity for the MPs to be standing side by side with the people in distress, to be with the people in good time or bad time. If attending a citizen’s funeral wake is important, I think this is even more deserving of their presence. I sense that this is missing and is felt be the people there. Or maybe MPs should not be seen in Hong Lim Park. They have their own Speakers Corner in Parliament House. Yes, they will be asking many questions on Monday.

Everything is fine, don't question

Did I remember correctly that someone in this blog said we are so lucky. Everything is so fine, in good hands. Look at the poor Ah Peksand Ah Mahs and their lifesavings disappearing after buying financial products from reputable financial institutions with good faith, believing that everything is in control and safe here. Don't ask, don't question don't kpkb, count your blessings. We have a good brand. I am going to Hong Lim Park this evening to get a feel of the feel good phenomenon in Singapore. I bet many will be grumpy, angry, hostile, and will beat up anyone who tells them that they should count their blessings and go home. It is water under the bridge, let's move on. Too must trust, too much complacency, or just blind f0llowers or pure ignorance? Unthinking Singaporeans?

Reaching for the pinnacles the profitable way

Tan Kim Chuan wrote to the ST forum stating that the relaunch of Pinnacle@Duxton is priced at $200k more than when it was launched in 2004. Now this must be a mis statement. It cannot be. How could HDB priced its flats at $200k more than the original launch price? HDB is not a private developer existing just for pure profits. A whopping $200k increase all because the market value of these flats were priced at a discount to market value is simply atrocious. Most of these buyers are going to incur a loss very soon with the condition of the economy and the falling property market. Now, shouldn't this be a good question for the MPs to raise in Parliament? Or should Tan Kin Lian be responsible to talk about it in Hong Lim Park first? Tan Kim Chuan politely commented that this is either over pricing or profiteering from the property boom. Does anyone with political and moral responsibility to the people think that the pricing is grotesquely excessive and need to be brought down as the buyers are our people and many are young first timers? Or is it another case of greed is good, profit is good? What has become of the original HDB, the builder of affordable homes for the people. HDB used to be a nation builder with a national responsibility. Now it is becoming a commercial animal, and profit is all it sees. Come on MPs, ask some questions would you?