Conning Asean

The effort to squeeze themselves into the Asean fold has increased in intensity. First Australia and now Japan, two hardcore allies of the US, are putting their grand plans to Asean for a bigger bloc. By hook or by crook, the US must be a member of a bigger organisation with Asean members in it. Only then can the US lead this bunch of little countries along, as their leader. The Asean countries must not be allowed to run and operate independently. They are just incapable of looking after themselves. It is for their own good that the US should come in and nanny these 'never to grow up' adolescents. Asean has been in existence for several decades, rising from the hubris of the Cold War to strike out on its own, to be neutral from the big powers, to be a zone of neutrality. Why should Asean allow itself to be subsumed by the big powers and lose its identity and independence? Why can't Asean exists as an organisation without the presence of big powers, without their meddling in Asean's affairs? The present arrangement of engaging big powers on an Asean plus basis is perfect, the best for the Asean and its smaller members. Becoming a bigger bloc, which is desired by the big powers, will cripple Asean as a regional grouping of smaller independent and neutral countries. Asean should think very carefully not be dragged to play in the big league, to play beyond its level, like the S League trying to play in the EPL or in the European League. It is flattering to be in the big leagues, but the inadequacy will stand out like a sore thumb and very embarrassing. Would Asean be easily conned to invite the wolves into its fold?

More thinking needed

Last week we have Sue Ann Chia from the ST examining critically the reasoning of HDB on the LUP programme in the two opposition wards. Today, ST's Jessica Cheam is re examining the numbers and claims of HDB on the 96% success rate of first time applicants for HDB flats. The numbers were quoted to prove HDB's position and looked quite convincing. What is important is to look carefully at the different sets of numbers and how they came about, how they were used to present a point. One example given by Jessica Cheam is that if 200 units were offered and there were 600 applicants, it was obvious that only 200 could be successful and 400 would be unsuccessful. How many percent will be the success rate? Definitely not 96%, not 50% but 33%. In the recent application for balance flats, 2132 flats were put up for sale and attracting more than 20,000 applicants. The success rate could only be around 10% with 90% balek kampong, come again next time. This brings out another issue about meeting the demands of flat buyers. If there are 20,000 applying in one exercise, how many flats must be built to meet this demand? At 2000 units annually, the demand, if static, will take 10 years to clear. Is HDB meeting the demand of the people?

Speaking in personal or private capacity

Is this a new style, to speak in one’s private capacity as an individual? I think it is perfectly alright if the president of a brothel or casino were to speak in his private capacity about the green movement or about saving the earth. But what happens if the president of a brothel were to suggest how he thinks the brothel should operate, or the president of a casino were to comment on how a casino could be better managed? This is akin to a president of a country saying that something is wrong in the country and such and such a thing could have been done to make it right. Then he turns around and says, hey, speaking only in private capacity and not as a President. And mind you, if these presidents were all collecting their dues as incumbent presidents, be it a brothel or casino or a country, then what can the people make out of it? Why don't they make the changes when in office?

Good times for the hardlanders

The hardlanders or heartlanders form the bulk of the population and the majority of public housing owners. And 80% of housing in the island are public housing. And when the prices of public housing are up, it means good times are here for the hardlanders. Today's main article in the media is that prices of resale public housing flats are soaring, including cash over valuation which buyers are willing to cough out upfront, an amount that is in addition to the valuation price. This has gone up four folds on the average, from $3000 to $12000. All the hardlanders are beaming with a big smile knowing that the flats they bought are appreciating in prices. And many are making calculations and alternative plans on their new found wealth. Some will be selling their flats for a better price, and upgrade to private properties. Some will use the money to buy a palace in some less expensive countries. Some will downgrade into smaller units and set aside the balance for retirements or for a trip around the world. Some may go the extra mile and opt to rent a flat. After all at 60 or 70, how many more years are left. So no need to buy into another property. Keep the cash hoards and feel rich. In the kopitiams many will be calling themselves millionaires or half a millionaires. They will be laughing every day at their richness instead of waiting for a statement from the CPF once a quarter to tell them they have plenty of money in their CPF accounts. The feeling must be good. For the single old men, time is going to be real good. For the single old gals, can also be good. Let's welcome the PRs, the young and the old, the rich and the not so rich. The rich can buy over all the flats from the Singaporeans. And the not so rich can service them and make them live the lives of the rich. Time for celebration and parties in the heartlands. The asset enhancement policy is bearing fruits. Singaporeans must be grateful to the govt for their good fortunes.

What's left for Singaporeans?

Below is the first para of a Financial Times article posted in Singapore News Alternative about the surge of rich Russians coming to paradise. Financial Times, 21 Oct 2009 Singapore is attracting a surge of Russian investment as rich business people seek a politically stable home for their personal wealth as well as exposure to Asia’s rapid recovery from the global financial crisis. Officials and bankers say significant sums have been deposited in the island state’s booming private banking sector, with Russian money also flowing into the stock market through investments in property and luxury services companies. The issue is that other than investing in productive industries, a lot of money will be sunk in properties. If rich foreigners are flooding the market and buying up everything, eventually what will be left for the citizens? Yes, it is good money, like selling Alaska. Before we sell everything, there is a need to calibrate how much can be sold and how much should be reserved for citizens. (Ok, bad economics). Otherwise, the whole of the city, Orchard Road and Bukit Timah will be owned by foreigners and the citizens being left out. Exceptions will be the Istana and Oxley Rise.