Trying times, trying A Team

The last one and the half years are trying times and have put the A Team to its test. Did they come out with flying colours? From the comments and discussions and criticisms in cyberspace, they don't seem to have done well. In contrast, the old media would probably run accolades across their pages if they were to write about the great achievements of the a Team. From the moment the news broke on the elitist and uncaring face, the NKF, Mas Selamat, CPF Life, Medisave, HDB market pricing, ERPs and public transport fares, electricity tariffs, GST, investment of reserves, minibonds etc etc, the solutions or the way they were handled fell far short, very short, of the expectations of what an A Team can do. Some may disagree and still have great faith in the A Team and would think that these are the best we got and the best were done. For those who expect better, they may want to look for a better A Team, one that pays $10 mil each instead of the present paltry sum of $2m to $4m. We should be looking for rocket scientists, the best legal minds from Yale, the best economic minds from Harvard or whatever to become politicians. We can pay for them. After all we have paid so much just for a few pieces of medals from the sports arena. The money will be well spent for a better A Team to run the country. Unfortunately my reservation is that God has his own plans. God does not endowed an Einstein to be a great scientist to become a politician. Making an Einstein a politician will make the human race lose a great scientist and gain a mediocre politician but paid a great scientist income. It also goes for a Bill Gate. We would not have MicroSoft but a very average politician who will be very unhappy that he did not make his multi billion income and scheming everyday to make a few millions more. A rocket scientist or the brightest mind in any profession is not a sure formula for a great national leader. You need one with a heart in the right place. There may be some freaks in history that are great in the profession as well as in leading a nation. But freaks don't appear often. One swallow does not make a summer. Is the A Team formula a right formula?

Support Raymond Lim's idea of free transport

After reading the discussion in TOC, I am also convinced that we should support Raymond Lim's idea of a 1.5% GST increase and free transport for all Singaporeans. And if we continue to charge the same price for PRs and non foreigners, maybe no need 1.5% increase, 1% maybe good enough. Let's all support this brilliant suggestion. Assuming if a household's expenditure is $4k, 1.5% will be $60 pm. A family of 4 will probably save $200 or more a month with free public transport. OK, no deterioration in service must be a pre condition. A family spending $2k pm will only add another $30 pm. And everyone can travel freely all over the island any time of the day and year. It will be good socially and for all businesses. The rich who spend big sure won't mind paying a little more. Or they can take some back by taking public transport and park their cars at home. Good for reducing traffic jams too. Give the man a Tiger, man!

Junk stocks

Goh Eng Yeow wrote in the ST yesterday about the deplorable stock market, a stock market of penny stocks or worthless stocks. A stick of cigarette costs many times more than many of the stocks which are selling for less than 30c, some even less than 5c. Worst, companies dare not list here for they know that there will be very few subscribers. Imagine a stock market when companies are finding it difficult to raise money? And some are still sitting in their ivory towers thinking that we have the best stock market in the world and trading activities are still very good. We need a thorough revamp to save this stockmarket before the karang guni men move in to pick up the leftovers. Many stock exchanges have enforced a ban on short sellings which wiped off the hedge funds and their destructive activities against stocks. We are still merrily sleeping and wining with the hedge funds and allowing them to do their damages to the stocks. In the mean time our stocks will remain as penny stocks. Any up movement is just a respite, like the fattening of the lambs for the slaughter.

Losses in CPF Investment

Half of CPF members who invested in stocks and other financial products lost money. And those who have liquidated their shares lost less while those that are still holding onto them stand to lose more as the future of stocks and shares are bleak. How could that be? Statistically, historically, based on past records, anyone who invests in stocks for 25 years will see his returns doubled or tripled. These CPF investors should take a long term view, maybe keep their money invested for another 20 or 30 years. After all they are all going to live till 85 or 100. So stay invested and the losses will turn into profits in a matter of time. Just be a believer and all things will be fine. In the meantime just keep your fingers crossed and pray.

Myth 203 - Transport fare is linked to oil prices

This myth is destroyed for good. There is a link, but indirectly, to oil price. According to Transport Minister Raymond Lim, "This is because the public transport fare is not directly linked to the oil prices. We link it to national factors, like the inflation level in Singapore, and the wage level in the whole of Singapore." So be careful when your wage level goes up. It will only cause transport fare to go up. Maybe another kind of market pricing like HDB, not related to cost of producing the goods or services.