So long never heard of CPIB

It has been quite a long while since we last heard of CPIB. Today there is a report involving a police officer taking bribes of $300 a month for facilitating the operation of a massage parlour. Actually it is not like that. The police officer was paying rather than receiving. He paid someone to stand in for him in getting a massage parlour licence. The lack of CPIB in the news is good news. It is the best statement that corruption has been totally wiped out, or nearly wiped out from this place. We are very clean. No more corruption, especially in high places. Another feather in our cap.

The Australians are dumb for sure

This is what the new PM Gillard said. "I think we want an Australia that is sustainable. This place is our sanctuary, our home." And this is what Labor politician Kelvin Thomson said. "Australians have expressed their concern about the impact of rising population on food and water supplies, on rising housing affordability, on traffic congestion, on the quality of life in our cities, on carbon emissions and on our endangered wildlife." I don't believe that the Australians could not cope with doubling their population with a continent that they have. It is not an island like the place called Singapore. They are worried about rising cost of living, food, water supplies, housing affordability, traffic congestion, quality of life, endangering wildlife? Come on, please come to Singapore and we will show you how to do it. We have solved all these problems and are going to keep on increasing our population. You see, rising population means economic growth. Stop the population growth is stopping economic growth, which is a nightmare. After 6 million, we will be talking about 10 million. And housing is a piece of cake. Our public flats are so affordable. Now they are talking about capping it at $1,000 psf or it will go higher. But no worry. The people are rich and will be able to pay for them. The Australians must send their govt officials here to study how we did it. Maybe we can loan them some of our super talents. But they must be able to afford to pay for them. Nothing is for free.

Selling in bits or all in one go

What is the difference in selling our land to foreigners in bits and pieces or all at one go? At the rate we are selling them, it is just a matter of time before we hit 20%, 30% or 50% of what we have, if the process is not stopped. I don't think any Singaporean will think that it is acceptable if someone is to announce that we sell 30% or 50% of our land away. Unthinkable. But if the selling is in bits and pieces, 500 sq m here and 1000 sq m there every other day, no one will notice or feel a thing. How much of our freehold residential land is now foreign own? This shall include the high rise freehold properties that can be sold to foreigners as well.

The Americans got it all wrong again

They said big banks that are too big to fail are bad. They are not going to have anything that is too big to fail. Now they have passed another bill of historical proportion since the Great Depression to rein in the free wheeling of Wall Street. They are not going to let their supertalents do as they pleased, to make millions and billions for their organizations and for themselves. This is going to be disastrous as their supertalents will be head hunted to use their talents elsewhere. How stupid can the Americans be? Two wrongs don’t make a right. All their funds will flock to enlightened city like Singapore to do their businesses. Their supertalents will set up bases here. In fact many have already came to this free wheeling financial centre of the East that will soon rival New York and London. And some of the bright financial engineers will do a big merger and acquisition just like Prudential trying to take over AIA. Now, if they do something like this, to create the biggest global bank in the world, they are likely to succeed. Our govt is likely to give them the full blessing. And we will join in the fornication for having the biggest global bank in the world, with no more DBS, UOB or OCBC, maybe no Standard Chartered and HSBC as well. All is one. And it will be a roaring success, a role model bank for the world to salivate. Of course the bankers will be the best paid employees in the world, and be allowed to continue with their free wheeling and dealing operations. It will be so impressive that all the big banks in the world will be dwarfed. Imagine, I am already wet at the thought of it, the biggest global bank operating from here, and the major shareholders are Singaporean entities. We will indeed become the freest and biggest financial centre in the world, the centre of the world. A fleeting dream in Alice's Wonderland.

No property bubble yet!

'Even if we cap our excess, people in Hong Kong, Indonesia, will say, compared to what I have to pay, Singapore is cheap, let's buy it,' he added. 'And apart from landed properties, they can buy into any condos.' Mr Lee, who was speaking at a dinner hosted by the Association of Banks in Singapore, said that the Government is convinced that there is real underlying demand for residential property. 'So it's probably not a bubble yet,' he added. The above comments by MM was reported in the ST. So foreigners want to buy even at much higher prices and we sell. They can buy into landed properties and condos. Would their buying raise the prices of other properties and in turn raise the cost of living here? Just because they want to buy, must we sell? Who sets the rules to allow them to buy condos and landed properties? Are these rules good for Singaporeans? For sure, it is good for developers and taxes. My gut feel is that one day we will regret this thoughtless selling of our precious land to foreigners. By then it will be too late to unwind the clock. And we can't do it like Mahathir, introduce laws to be effective retrospectively. Once the land is sold, freehold land, it is gone forever.