The end of the Shopping Spree

It was great fun going on a shopping spree with a container of cash. Better still when it is other people's money. Take all the credits and big bonuses if it turns out right, and if not, well, so be it. Buying the world is not as simple as it turns out to be. When everyone plays by the rule, proper trading practices, it should not go too far wrong. Unfortunately the world is infested with thieves and conmen of all disguises. Now we have came home with a basket of rotten eggs. And the rotten eggs will not become fresh any more. Caveat Emptor! Would it be easier and safer to invest at home? Here every element is under our control and supervision. The entities are known and can't go too far wrong. But we have neglected our own local companies and the stock market. They have been ruined. Big funds were allowed a free hand and free play to destroy the values of our stocks and emptying the pockets of our small investors by sheer muscles. It is time that we look inward, use our own funds and take on these big funds, save our market, the stock value of our companies, and the small investors. With $1b and the connections, it is so easy, yes, so easy to lick the big funds and make them pay for their waywardness and destruction of our wealth, the wealth of corporations and individuals. Overseas shopping spree is over. Time to help ourselves and save ourselves with our own money. No more dumping in unknown land, unknown companies and management, and ended with baskets of rotten eggs. Play in a pool that we know well. We have comparative advantages.

Licensing of bicycles

I read that this important issue was raised in Parliament. And there is a case for licensing bicycles and the problem is only about how ugly and big the licence plate will be. I am not sure if the issue of moderation or self regulation in cyberspace was also raised after the comments by Lui Tuck Yew. The last few days were all about whether a snap election will be called. Seriously, do we have time for all these? Shouldn't people be cracking their golden brains, planning and scheming on how to get back the billions that we have lost? Come on, this is the hottest issue not only in cyberspace but kopitiams as well. The comments in kopitiams were no less wild, pointed and vulgar than those in cyberspace. Now I am allowing my imagination to go a little while after a breakfast of plain porridge and black soya source. I tried that to relive the memories of the 50s and 60s when this was the staple food for many. And they didn't have that for breakfast, but as their main meals, lunch and dinner. It tasted quite plain actually. Should I go for Ah Koon's breakfast set? I digressed. More signboards are coming up in kopitiams and hawker stalls. Self regulations when commenting on social and political issues. No vulgarities. Not tantrums. 'KNN, why got so many signs ah! Kong si mi?' I turn around to see a few Ah Peks pointing at the signs using their middle fingers. On another corner a few Ah Peks were in serious discussion to form a committee and to set up rules and regulations on what are acceptable or unacceptable comments and lingos. A code of conduct is also being drafted up. One even suggested wearing T shirts with logos to tell the other Ah Peks who they are, Kopitiam Moderators.

The 2 cent debate

Singaporeans were all high and excited debating about the 2c savings that the PTC had granted them during this financial crisis. There were excitements everywhere, in the old media as well as cyberspace. The professionals went to town literally, interviewing the grateful commuters for the savings that would have brought them some relief and easier on their pockets. The PTC must have spent many hours debating among themselves on this big decision before agreeing to the reduction. I remember the MYCD took a year to study before increasing the public assistance grant from $360 to $390. And the President took 11 days to approve a $4.9b withdrawal from the national reserves. I wonder if the PTC needed to agonise over this 2c reduction? But all these cannot beat the 2c debate and the expectations of compliments from the grateful commuters. Would the media would be conducting straw polls and interviews on the street on issues like the $58b loss from our investment of public fund, with more losses waiting to be announced? I don't remember any such exuberance when the news broke out. It is kind of a sad that people should all be excited over 2c. What kind of existence is that, worrying about 2c everyday? They will probably hit a state of delirium when their salary is raised by another million dollars. Just sharing my 2 cent's worth.

Burning rage of taxi drivers

The media interviewed a few taxi drivers last night and you can tell that they were very unhappy with the lower ridership and lower income. They complained to the media that taxi fares must come down when the fares of trains and buses are coming down. They are losing more passengers in this hard time to trains and buses. It hurts their income for sure. But they could not reduce their fares as the rentals for the taxis are still high and eating into their income. Wait a minute, in an earlier post I quoted a media report that several small taxi operators wanted to reduce the taxi fares. Oh, now I see. Lowering fares without lowering operating cost and rentals of taxis will not do. It will mean high cost low income. What about the views of big taxi operators? They are for high fares. Lowering of fares will reduce the income of taxi drivers. True, true, I agree. No doubt about it. But can they reduce the taxi rentals? Now, that is a very difficult question. No, they are not considering it. They are thinking of other ways of promoting taxi rides like talking to corporations and giving discount vouchers to encourage ridership. Discount vouchers? Discount from whose income, taxi operators or drivers? My question is, why waste all the money and effort to promote to a small group of users? If, I say if, the discount is from the taxi operators, why not simply lower the rental and its equivalent in fares? Why not? They must have good reasons to do so. In the meantime the taxi drivers can continue to fester in their burning rage. Please don't burn anyone, please. Maybe this is why taxi drivers are prone to start fires.

SMRT and buses cut fares

The Public Transport Council(PTC) is showing its caring side by announcing a reduction in SMRT fares ranging from 2c to 18c or a bit more for those who need to transfer from bus to train and vice versa. The more the commuters do their transferring acts, the greater will be their savings. The transport operators will be transferring the savings from govt subsidies to the commuters. I was worried for them for a while when I thought they would have trouble explaining to their shareholders for the loss in profits with the reduction. SMRT claimed that it would have to fork out another $30m to $40m even with the govt subsidies. Would they be incurring a loss then? Maybe not with oil prices coming down rapidly to almost its previous level and with the big increase in ridership. My prediction is that SMRT will chalk up even bigger profits next year. Good for them. Let me compute how much savings will I get before I pop that bottle of champagne. 2c a trip, 2 trips a day and 22 trips a month. Viola, I save 88c! So I will be able to go for that additional cup of kopi in the hawker stall. Not bad. My cost of living is coming down. For those taking buses, the savings could be 20c or more per trip. Very good. Maybe I shall take buses instead and save more. Better still, take bus, train, bus combination, maybe I can save enough for two plates of chicken rice. Great idea.