CPF Life the best scheme

The CPF Life annuity scheme is the best scheme that the govt can think of. I won't disagree with that. For many who are unable to manage their forced savings, they definitely need another forced annuity scheme to carry on the trend of being forced to look after themselves. With so many enquiries, the CPF Life scheme is expected to robe in many more contributors, especially with the carrot of a $4,000 bonus for those who are not forced to sign on. I will encourage all those who need someone to manage their money to sign on too. This leaving your money to other people to manage is becoming a Singaporean habit, a Singaporean trait. For me, no way. I will never sign on anything that has a 'forced element' in it. I am very capable of taking care of myself and my money. It is such a great feeling to touch the money inside your pocket and say, 'Yes, it is my money. It is real. And I can do whatever I want with it, any time any place.' Mine is just a personal preference. Actually, with such a great scheme, if it is that good, people will be queuing to sign up, like property launches. No need compulsion. They will queue over night for it too. Community Clubs can help by providing buses to fetch them to CPF Board. Maybe not necessary if they can sign up in the Clubs themselves. Should CPF Board try this and see how many will queue to sign up for this great scheme?

Do banks have the ammo to fight frauds

This headline in the ST reminds me of the realisation in the European community of the real robbers that are robbing the people. Before I go on, the article in the ST was about banks trying to curb credit card frauds and limiting the liabilities of card holders. The European concern that was taken up by their Finance Ministers at the G20 was about the disproportional ransoms that the bankers are extorting from the banking industries. They reminded the ministers at the meeting that even before the financial crisis is over the bankers are paying themselves the crazy bonuses that they were getting before. And the Americans are not going with the Europeans as the main culprits are the American bankers themselves. These robbers are robbing their shareholders of hundreds of millions each, individually and annually. How on earth could they justify their abilities to earn that kind of money? With or without them, with a new team in charge, their banks are going to do just as fine, or just as badly. Many were managed to the brink of bankruptcies, or were bankrupts and needed govt and public funds to save them. The read fraudsters that are cheating the minority shareholders are the bankers themselves, and the CEOs of MNCs where the minority shareholders are helpless while the management just write their own pay checks, and pay themselves crazy. Do we need to look anywhere for fraudsters? Oh, pardon me, I am referring to European and American bankers and MNC CEOs, those who took tens or hundreds of millions. And it is not just the CEOs, it is the whole management team and board of directors. All are in it. It is a case of I pay you and you pay me, I approve your pay and you approve mine.

Bird watching

I went on a bird watching trip recently, armed with binoculars and camera, to watch and count the number of birdies in our little island. Many of the old birdies have disappeared. The merboks, the magpies, the Mynars, the nectar feeders etc. Even the sparrows, the most populous and in every roof corners, are hardly seen today. We were briefed that the bird population has grown with more sanctuaries being set aside as protected territories for migratory birds to nest here. So we counted all day long. As usual, the mynars and sparrows were few. But the numbers of crows, egrets, green pigeons, herons and many that were rarely seen in our island, non residents, are setting roots here and making our sanctuaries their homes. A thought came to my mind. One day we may see Singaporeans lugging their binos and digiphones in the city looking for Singaporeans and counting Singaporeans. The Singaporeans have gradually become a rare specie, and it takes effort to find them in the crowds of foreigners. There may be conducted tours with well informed tour guides leading groups to look out for Singaporeans. They will be armed with knowledge on Singaporean behavioral patterns, eating habits, slangs, dressing and their favourite haunts, what to look out for to separate them from the foreigners or new Singaporeans. And I think this will become a new industry. Conducted tours for Singaporean watching, and counting.

The wooden story revives

‘I was a block of wood. So? It was the truth.’ This story is immortalised in the Men In White book. How many political leaders would take such a comment in a public address standing up? Chok Tong did, standing 6 ft 4in tall. And he not only admitted that he was wooden, he could joke about it too. That is the kind of leader we have and the people love him for it. His ministers continued to support him. He is the most likeable PM so far. And because of the public dressing, he became a better man, more uninhibited and improved on his public image and public speaking. In other words, less wooden. And he got LKY to thank for. In LKY is another quality of leadership unseen anywhere. His lecture is always well regarded by friends and foes. Chok Tong became a leader and his own man and accepted the comment though stunned for a while. Recently we have another grateful recipient of his lecture in Parliament. After his robust reply to newbie NMP Sadasivan, the latter was thankful, like a student attending a lecture in the university once again. And we can see him learning and gaining from it and become a better man in the future This is the unique quality of LKY. He can tell anyone off and the recipients felt very grateful for the lesson, for he meant well. ‘He’s not a man to slam you for nothing. He was never personal.’ Said Chok Tong. Imagine another leader coming out and make such a comment on anyone, the reception is not going to be the same. There were several instances, some in Parliament, and I don’t think the recipients were grateful for the dressing down. Maybe some PMs may learn this trick from LKY and make public assessments of his cabinet ministers in the future, if he is LKY calibre. Anyway, what’s wrong with being called wooden when there is real substance. The number one golfer’s official name is Woods, Tiger Woods. And no one is disturbed by that name. Who knows, the next headline when Tiger wins another tournament may be ‘The Wood is on top again!’

"Affordable" in inverted commas

The ST reported on the new launch of another condominium in the Gillman Height site and the "affordable" prices that are being offered. A 2-rm 75 sq m unit is priced at $700k or about $1000 psf. When words are bracket by inverted commas, it is clear that the meaning is suspect. Affordable or affordability is now a misleading term, depending on who is using it and the listener. It used to be the belief that when something is said often enough and repeated loud enough, people will come to accept it as the truth. Unfortunately these two words have developed into some kind of ill repute. People no longer believe in them. What if affordable is mixed up with heavy subisidies, with willing buyer willing seller, with market pricing? How believeable and affordable can it be? Could the people uttering affordable really and sincerely believe in what they are saying? I do. Anyone who cannot afford to pay $700k in their lifetime(two incomes) for a roof over their head is unfit to live in paradise when people could easily earn $1m in a year. There is a spurious outpouring of unhappiness over the usage of the word afforable and the basis or formula use to define what it is in the ST forum today. And this is only the tip of the iceberg. We do not know how many letters have been sent to the ST before a few were printed. And the angry cries in cyberspace would probably not be heard, so not counted. As long as the affected people chose to keep quiet, the few voices heard would be read as too little to warrant any serious attention. Unless the voice is loud enough, spoken often and with more anger, no one is going to listen and people will conclude that 'see, no protest, so no problem'. The affordability index is so perfectly calibrated that the people are happy with it. And the properties, private and public, are selling like hot cakes. The demands are evidence to prove that it is right. Does anyone ask how many of the visitors in property launches are paid to be there or how many units are actually booked by the agents themselves to give the impression of strong demand? And how many are booked by speculators?