Are we turning into robbers?

Yesterday we read about the thugs in Sim Lim Square fleecing on their customers, particularly tourists. And this did not happen yesterday, and not in Sim Lim alone. Today we read about daylight robbery in Newton Hawker Centre. 4 foreigners were literally robbed of $491 by Stall 43, Tanglin Best BBQ Seafood. This was their bill for the food. 8 prawns cost $239 or $30 each. 4 crabs cost $169 or $42 each. And what else? Is this what we have become? These robbers are not only robbing the tourists and foreigners, they are destroying the Singapore brand and livelihoods of the decent people in the same businesses. Do we want the world to know that we are a nation of robbers before something serious is done to curb such abuses? Letting them off with a warning or small fine is not acceptable. They should be made an example of by revoking their business licences. Maybe fleecing is now a way of life as long as someone else has to pay for it. It reminds me of car insurance. Another kind of robbery. And if one looks carefully, robbery is everywhere, some even appeared legal and honourable.

Do not begrude others doing well

I was too busy to watch the news last night but with the TV on I could still catch the phrase, 'Do not begrudge others who are earning more' spoken by someone who must be earning much more. I think the comment was the result of some vibrations in cyberspace of civil servants getting 8 months of bonuses in such a time. Why should people begrudge others who are capable and earning their honest pay? Even in times like this, the able and capable, and the very talented must not be forgotten. Let's pay them their worth in case they may think of jumping ship. There are a lot of great paymasters out there waiting with open arms to employ these able talents, and pay them more. Just a little concern about public servants being paid with taxpayers money, and being paid very well. Just hope that their being paid very well will not being translated into more taxes in order to do so. The money must come from somewhere. From who's pocket?

Case is geared up to fight insurance fraud

Two letters in the ST forum did the job. The motorists are angry and demand that something needs be done to curb the abuses in the motor insurance industry. And Case is making strong statements to muster govt efforts to stop the fraud. Case President Yeo Guat Kwang said, 'It is not fair for the consumers to suffer, at the end of the day, because of all this malpractice in the industry.' It was also reported that GIA has all along suspected 'that some workshops, legal professionals and medical practititioners are working hand in glove in making these claims.' While professionals are involved too! And all these have been going on for so long and no one does anything to it or nothing can be done to stop it? Hey, this is highly efficient Singapore! So what are we going to do about it? The insurance companies have done the Singapore thing, throw more money into it by raising insurance premiums to solve the problem. Would more money be thrown into it to help the motorists? Or maybe we shall second a few supertalents to solve this difficult problem.

All the countries doing the wrong things

The US is going to curb employment for foreigners. And KL is also doing so. The big bourses in Tokyo, Australia and some others are curbing short selling. People are having second thoughts on minibonds and derivatives, high leverages on stocks and assets have proven to be very destructive. The exception is Singapore. We know we are doing the right thing while the world fumbles with about everything. That is why we are so successful. We will continue to welcome foreign talents. We will continue to sell minibonds, with a bit more care. We will continue to let short sellings in our stock market, it can only be good. Let the market forces determined the price. And we will continue to have derivatives and more derivatives. Leverage is good. Imagine one can take 5 or 10 mortgages on a house. There will be more liquidity. Why would Conrad Raj wrote against introducing more derivatives in such a time? He said it is like encouraging gambling. One stock with 10 derivatives means it is multiplied 10 times. If it fails, it will hurt 10 times, exactly like minibonds. Our stock market does not need more stocks or IPOs anymore. We can keep expanding by just multipling the stocks with more derivatives. So many people have been burnt with fortunes destroyed because of derivatives. Why can't we learn a little and be a little more cautious? Why can't we learn from other's mistakes? No, the others were less talented than us and do not know how to do it right. We are so talented until we can't find anyhow to fill Ho Ching's position and need a foreigner to come and help us find the way. By the way, I fully agree with Conrad Raj's reservations and concerns.

We are getting closer to a 8 million people city

We are getting closer to realise our dream of a 8 million people city. I read today's paper that private developers are building flats that are as big as 8 table tennis tables or 344 sq ft. And HDB is also reducing the size of the respective flats compare to the earlier days. Whether this is progress or regress is another issue. The squeeze will mean that the island could easily double or triple the population size. Let's forget about Swiss standard of living. Let's look east at Hongkong and Tokyo, great examples of great living. And the quality of life should be better as these flats are relatively more expensive on a per sq ft basis. So more expensive must be better. And this great way to live can be easily explained away. Save on PUB bills, save on cleaning space, no need maids, OMO can do liao. And no need to run all the way to the toilet or kitchen. Just row over and one is instantly in the toilet or kitchen. So easy and comfortable. Can watch TV from the toilet seat too. Singaporeans should look forward to the exciting future.