Lower income groups are having it so good

It is reported that their income increased from $1,200 pm in 2006 to $1,310 pm in 2008, a whooping increase of $110 in 2 years. Wow, wow, their lives must have been made better by the $110 pm raise. And it is computed that 3 roomers enjoyed a real wage increase per annum of 3.5% after factoring in inflation. And with all the govt support, handouts, give aways, etc, etc, what more can one ask for. The only people probably will be complaining are those earning $100k pm or more. For the economic crisis cuts across all income groups and the higher income earners were not spared. I can hear them cursing that their income increased only by $100k instead of $200k. For the lower income group this is something to celebrate and pop the champagne comes National Day.

Live well and die well

Many of you must have heard of the story that life should begin at 90 and ended when we become a baby, the reverse order of things. Maybe I should modify this a little to 70-0, starting at 70 and finishing at 0. At 70, quite a few would still be able to live a good life with body parts still functioning, with a lot of cash to spend and by the time they have enjoyed their life, it is time to retire as a baby, to be cuddle and pampered. That would be a good ending instead of all the old hags living but not living, becoming a burden to themselves, their family and the state. Under the present system and condition, don't ever wish to live past 70 if you don't have money. For you will need an overhaul of your whole body system and get the major parts changed. And you bet, most of you cannot afford it. If you can't you will ended up like stray dogs and cats, abandoned or neglected, and left to watch the world passes by in the void decks. But not to worry, especially the younger people. The govt will help you to plan for a life when you can live till 90 or even 100, and with a lot of money left to spend. The catch is that you will not have much to spend when you are young and healthy. You need to spread your income to 100 years. Which is a better choice, enjoy when you are young and can, and die well, or abstain from enjoying or living well, to live longer and drag on to 100? I think we need a whole rethink on the meaning of life, the meaning of savings, and the meaning of extending life unnecessarily. The latter could be a long and miserable journey to many, with money but just cannot do anything, except lying in bed. Is that a good life, a good way to live the last part of one's life? Do we really need to save so much for a time when we only need a bed to lie down and nothing else?

Notable quotes; Vladimir Putin on greed and hostage

'You have made thousands of people hostage to your ambitions, your lack of professionalism - or maybe simply your trivial greed.' Vladimir Putin Putin used these words to humiliate a top oligarch for causing a crisis in a town all because of greed. Take a moment to ponder over this statement and ask how relevant it is to our context. How many people have been made hostages by greed in paradise? How many policies could fall into the same category? I think we all know what they are. No point mentioning as people will not be happy to be told the truth. This year we will be celebrating 50 years of self rule, not independence. Is there a difference? Definitely, but I have dealt with this earlier. Let's look at the 50 years of success and 50 years to go full circle and probably going backwards. When PAP came to power in 1959, there were great promises of independence and a better life. And PAP delivered. And still delivering, except that some roads were leading to paradise and some to little chicken coops. Singaporeans have gone through living in little cubicles, attap and zinc roof wooden houses. We progressed to modern housing. There was a time when everyone was looking forward to better housing, 3 rm to 4 rm, to 5 rm, executive flats, condos and private housing. The govt even promised a future of a Swiss standard of living. There were high expectations and an air of confidence. The govt delivered. Many have attained Swiss standard of living and better. It is distressing to see that instead of continuing on that same path, the promises of tomorrow is no longer the Swiss standard of living but smaller housing, 2 rm and 3rm flats, at exorbitant prices. Are we promising a new standard, the Hongkong standard of living when a 50 sq m flat is considered a luxury apartment? The hard fact now is that people cannot afford the expensive public flats. So instead of bringing down the prices, they bring down the size of the flats, plus extended repayment terms. Why exorbitant prices? Why would people have to pay a life time, held at ransom for a life time, for a 2 rm or 3 rm flat, or any public flat, 4 rm or 5m? In today's paper, the Americans are buying landed properties costing only US$100k or less. Some in not so good condition could be had for US$10k and could be repaid in 2-3 years. Ok, different country, different conditions. They have big land, more choices and big problems. But these do not escape the fact that average Singaporeans still got to pay a life time for a small little space which they don't even own. I am not referring to the 20% who are living in paradise like lifestyle. We are a country, a nation. The people were with the govt for the last 50 years and prospered. What would be the future when the people, I mean the hardlanders, the majority of the people, feel that they have been left out of the prosperity boom? The basics, like decent housing, which I believe is a 4rm flat, not getting smaller, should be the standard for the average Singaporeans, to be affordable and not having to pay a life time for it. Now we are regressing, going down and smaller, while the other end is going up and bigger. If the govt is all calculative in the dollar sense, in housing policies, why shouldn't the people be calculative in sacrificing for the country, eg National Service. Can the value of NS be quantified in monetary terms, or should it be quantified in monetary terms? The people must see that their sacrifice is worth it, that there is a better tomorrow to look forward to. Are we heading that way? Would the next slogan of the govt be like, we will build more affordable 2 rm and 3 rm flats for the people? Or will it still be the dream of a Swiss standard of living?

How to recover Temasek's billion dollar losses

Bad timing is the main cauee for the big losses that Temasek sufferred. Too eager to buy and too eager to cut losses summed up the events that are now the talk of the town. Buy high and sell low! These are decisions made by the best financial managers that money can buy. On hindsight, many will be asking, 'Is that the best that Temasek could do?' Anyway, it is money under the bridge. Gone. But not to worry. Another big cause to the big losses was the hollowing of our own stock market when huge money were park in the US and Europe instead. This lack of interests in our own blue chips, which Temasek has quite a huge portfolio, allowed these stocks to be dumped to less than half their values at the worst time. Now with the realisation that we should cover our backside while venturing into unknown territories, money is now being ploughed back into our stock market. And we are seeing some rapid surges in the value of our battered blue chips. Another way to raise more money and improve the bottom line is to offer more rights issues. Soon all the money lost will be made back from our own market and from our own investors. Our investors will help to boost up the bottom line and make up for the losses. This is the comparative advantage of being the big boy in the local market, the knowledge and control over how things are and will be. Wall Street is like a jungle infested with thugs and robbers. There is safety on home ground. How come we didn't think of that in the first place? Will the flirtation with the American dream end? Will we still throw money after all the great American financial gurus to bring home the bacon?

Recruit more Arab talents

The best foreign talents in finance are not found in Wall Streets or any European cities. These people make money by cooking the books. The real talents are in the Middle East. The Arab sovereign funds are making billions while we are losing billions. What more to say. Quick quick, send our recruitment team there and stop wasting money recruiting from the US or UK.