How much is our reserves?

Everyone seems to be quoting this word, 'reserves' freely. How much is actually our reserves, what constitute our reserves and where are they? Our CPF a part of the reserves? How much of Temasek and GIC assets are part of our reserves? Then there is another reserves guarded by the President. How much is this and where and in what form? Can someone clarify on the above mess and put the amount and parts in a simpler manner so that we know what it is all about?

How benevolent is our govt?

The govt just announced the resilience budget worth more than $20b to help the people in such a difficult time. Should the people be grateful? We heard the call that we are all family, looking and caring for each other, helping each other and making life better for everyone. I did not hear wrongly. Then you look at the HDB policy, market pricing to max what they can get from the buyers. They used all public resources to monopolise public housing to squeeze it out as much as they could from the people they called family. And when you complain they said it is affordable because you can pay with all your CPF. Hey, the CPF is people’s retirement money! What happens if they have nothing left for retirement and hospital bills? Then the Health Ministry got worried. With so much money being taken to pay for flats, better lock up some in case they need to pay for hospital bills. And there goes another chunk into the Medisave. Then another proclamation, Singaporeans got no problem paying for medical bills. Then another ministry got worried. What if they got no money to retire and demand public assistance? Better lock up for this before there is no money left. Hey, what about me, the one who contributes to the CPF? I got nothing left for myself. Just too bad lah. And don’t expect charity or free lunch from the govt. The govt does not believe in encouraging crutch mentality. As long as the people got money to pay for HDB flats, pay for hospital bills, the two big ticket items, that’s good enough. Oh now got compulsory CPF Life and with easy options except no option to opt out. So now all the money got locked up for some good reasons, and here comes the recession and people got no more savings to fall back on, we have the resilience package. How much will each get and how long will it last? So there you are, a benevolent govt, and a people with one of the highest savings and all crying money not enough.

The Obama Message getting through

Who said Obama could not do anything? His US$500k salary cap for bailout banks is getting through to the thieves. Citibank's Vikram Pandit has seen the writing on the wall and volunteered to pay himself US$1 and no bonuses till Citi is profitable again. Though the rest of the top bankers are still recalcitrant, still did not know that they have moral responsibility and accountability for their decisions, they are now asking Congress to take a lighter touch in the face of fierce critics and congressional grillings. But again, they are not going to walk away without asking for more. They are putting forth the subtle threats to leave for European banks, presuming that European banks and Asian banks would be silly enough to pay them what they are asking when the Americans are saying no to their looting ways. They were told by Paul Kanjorski that they cannot live in a 'one way mirror unaccountable to the public at large and often sheltered from scrutiny.' This should also apply to govt and govt regulators for sleeping on their job or doing a lousy job. Goldman Sach's Lloyd Blankfein accepted the criticism and commented that 'Many people believe - and in many cases justifiably so - that Wall Street lost sight of its larger public obligations and allowed certain trends and practices to undermine the financial system's stability.' Are we also having something like this going around here? Has our govt also lost sight of its larger public obligations and allowed certain trends and practices to undermine our system and stability? Maybe I should write something about this. The statement by the committee's Democratic chairman Barney Frank deserves special mention here. 'Why do you need to be bribed to have your interests aligned with the people paying your salary.' No further comments from me on this. Obama has set a new trend. The looting in New York and corporate America will have to stop and accountability is the now the new morality. But from the comments for congressman Michael Capuano, the thieves are still getting away too easily. He asked, "Who was the brilliant person who came to you and said, 'Let's do credit default swaps?' Find him, Fire him." So easy meh? Just walk away without any criminal charges? And after collecting all the fat bonuses and pay? No restitution?

What is wrong with Boon Wan's nursing home?

Absolutely nothing wrong. It makes perfect cents. Oops I mean sense. From the practical and pragmatic point of view, from the dollar and sense point of view, it is the ideal solution to land scarce and high cost Singapore. You get value for money in JB, and not too far away from home. For those who want to compute on the additional benefits, they can think of the cheaper shopping and makan and also the petrol to go with. They could save more when all these are added. Why are people so angry with Boon Wan? I can only sense one reason. These people are using their hearts and not their heads. They cannot think logically devoid of emotions and sentiments. They will only come to terms with Boon Wan's good suggestion if they can think like him, think of money and how much can be saved. Then they can be won over. Think utilitarian!

Who's next to be 'goreng'?

The new media has brought about a new dimension in things that will be discussed and things that will not be discussed in the past. The old media, TOM, has professionally chose to discuss things that they deemed acceptable to discuss and things that they would not touch for obvious reasons. But the gap, the things that TOM will not discuss will be discussed, thoroughly, roughly and viciously, by the netizens when deemed fit. Since the Mas Selamat's vanishing act, Kan Seng was the first to be 'goreng' by netizens for every flaw that led to the escape, including slipshod comments and gaps in the logic presented. Then there was a lapse until Tan Yong Soon told the story of his exciting cooking class in Paris. And the storm broke. But before the storm receded, in came Charles Chong and his 'lesser mortal' comment. The netizens were not going to let him slip away with such a heavenly view of things. Yes they walloped him. Yesterday was Boon Wan's turn to be grilled, not medium rare but well done. His comment about putting the oldies into nursing homes in JB was not taken kindly. Even his credential with a Buddhist shield could not protect him. They questioned his values on filial piety and gratitude to the parents. Lui Tuck Yew's dressing down of netizens as immature too got a bollocking. He thought he could get away with such a sweeping statement in Parliament. He could if there was no cyberspace. TOM would probably add on and support his comments against the netizens. But the netizens now have an avenue to talk back. Don't anyhow scold the netizens. They will return the courtesy. But the perpetual favourite is Swee Say. The netizens remember every of his comments and wise cracks. From his happy reading of his CPF statements to his upturn the downturn, were well discussed. The latest was his mouse that barked away a cat. The MPs in Parliament found the Tom and Jerry fable amusing, but not the netizens. The latter too had a good laugh but for the wrong reasons. Would the people hear any of these juicy expressions of views and emotions in TOM? Fat hope. Only cyberspace can provide the spices and colour on such X rated news. Who's next to disparage the netizens and be the talk of the town or talk of cyberspace?