Willing the problems to go away

In paradise this is the easiest thing to do. There are many problems and there are no problems. Does anyone hear about problems of high insurance premiums? Does anyone hear any complaints about the 40% hike in public transport fares? Does anyone hear anything about CPF, CPF Life, Medisave, minimum sum schemes that turn your money into fixed assets that cannot be moved? The extraordinary rain and extraordinary floods are just acts of god. And the mess in public housing demand and supply is only an imbalance, maybe also an act of god. The trick about willing the problems away is not to talk about it, not to report in the media. Then quietly the problems will disappear. This is Singaporean ingenuity.

IMF warns of Spore inflation

'Singapore's inflation is likely to accelerate and policymakers should stay vigilant on the outlook for growth and prices, which may require the "further calibration" of monetary policy, the IMF said....' This is quoted from a front page article in mypaper today. When I read this statement the only thing that came to my mind is that the IMF is talking nonsense again. Where got inflation here. If there is any inflation, it is good inflation. These people from nowhere think they know better than the locals. A 5 rm flat may cost $30k 35 years ago and $600k today. But this is not inflation. It just so happen that Singaporeans have too much money and savings and don't mind spending that kind of money. And what's wrong with it when they can brag about how expensive and asset rich they are now? And then there are foreigners who are willing to pay more for the public housing flats. This is proof that the properties are worth every cent they paid for. It is not inflation and there is no inflation. How could there be inflation when the annual inflation rate is 3 to 5% or even lesser?

I am so lucky

I won’t say that to Wally. You see, Wally thought he was smart and had a good deal when an FT bought his 3 rm flat for a fortune. Yes, it was a fortune for Wally to build a palace in LiJiang. The palace is up and Wally the emperor is enjoying his life there. But little did Wally know that the FT, if they are worthy to the name FT, must know something more, or is smarter than the locals. And the FT has proven to be right. The ridiculous price that he paid Wally was not ridiculous anymore. The price of HDB resale flat is going up and up and the FT is going to make a fortune. Wally thought he had a good deal. But the FT is having a betterer deal. All he needs to do now is to sit on this little gold mine and see his fortune grow by the day. Wally must be regretting now. I almost sold my little flat too to join Wally. On hindsight, I can now celebrate for procrastinating to sell my flat. If the FT is right, another 30 years I may be able to buy 5 palaces in Lijiang instead of one today. And if I wait longer, another 30 years, I wonder how many more palaces I could buy. So I am just going to feel good about my little HDB flat and my good fortune. Its price is going to go up and up. And I can keep smiling and smiling as the media keep a good daily update of how expensive my little HDB is getting. Oops, I mean how worthy I am by the day with my HDB flat appreciating in value in an unstoppable manner, and more FTs and those citizens that were squeezed out of the HDB queue came knocking to offer me more. The COV is enough to see me retiring, smiling into the twilight. To borrow a phrase from Wally, I am waiting for the next sucker that is going to pay me more for my HDB flat?

Who is paying for the flood damages?

I shouldn't be asking this question as the answer is obvious. Someone's slip and well, it was just a slip. Maybe it is not a slip, just an insurmountable act of god. The insurance premiums for the shops and houses are going up. And the insurers, would they be content with just those affected by the floods? For safety measures, they will apply the new premiums to as many insurees as possible. I am not suggesting that more bonuses could also be bundled into the premiums. The building owners too will have to upgrade their structures and services and all the cost will go the way of the tenants as well. The shopkeeper will know what to do. They are not going to bear the cost for sure. The price of their goods and services are going to go up. Not sure how the owner occupied properties are going to spread the cost or pass the buck. In general, all the consumers will have to pay for this act of god that no human feats can overcome. And some silly buggers are comparing how lucky we are by looking at China and other countries. For one, their wrath of nature is many times for formidable than ours. Our rainfall is like a tropical thunderstorm. Yes it is a tropical thunderstorm that we have lived with for many generations. What is all this nonsense about typhoons being in the picture? And for a little piece of rock and we can't deal with it? Nevermind, just bear with it and with the higher cost coming our way. Maybe we need to import more super talented FTs to help us. Just make sure they don't recommend that when it is going to flood, move to higher grounds.

Asean should censure the US

It is heartening for Asean to ignore the American pressure to impose sanctions against the North Koreans on a drum up charge by a kangaroo court that the North sank the Choenan. The fact or the truth is still in deep water and both the Americans and South Koreans are afraid to let an independent international team to investigate the evidence which they claimed were facts. This is a real slap on the face of Hilary. She and Gates were the most vocal at the Asean Summit in Hanoi, trying to drag Asean to condemn North Korea without giving Asean a chance to verify the truth. They kept shouting that the North Koreans were provocative when they conduct war drills at the North's doorstep and wanted to freeze some 100 North Korean bank accounts overseas. With such outright provocations, instead they are pointing the fingers at the North Koreans. Asean should pass a resolution to censure the US for their provocative acts against North Korea. Further, they are trying to incite the Asean countries against China by offering themselves as the mediator to the counter claims to the Spratleys and Paracel islands. The countries involved in the disputed islands have more or less reach some kind of understanding or agreements. The Americans would not accept that and want the issues to be blown up and raise tension between Asean states and China. Such stirring of shit is the standard operating procedure of the US to get other countries to be at each other's throat. How clever of the evil empire.