Santa Claus coming to America

Or shall I say the wise men from the East coming to visit America and bringing gifts for the baby? Hu Jintao is in America on a 4 day visit and a summit with Obama. And he does not come empty handed. In his wagons were loads of gold and silver, all ready to be dispensed to the hungry Americans. Several hundred millions have already been given and more to come, to the tune of billions, if America is willing to be a nice boy. Even before the visit there were threats and threats from the American elite, including Hillary Clinton. And the stupid woman still rabbled about human rights in China and that the Chinese must change their social and political system to suit the Americans. Why should the President of another country go to the US to listen to someone complaining about his domestic affairs and how to run his own house? Maybe China should do more homework and insist on talking to the Americans about compensation to the Red Indians and the descendants of former slaves. Actually, there is no need for China to indulge in the same gossips as a housewife. Go to the White and talk politics, about bread and butter and guns. If the Americans insist on talking about human rights and all that nonsense, just pack up and go home. No need to waste more time on unproductive and destructive distractions. The important issues are economics and how to give the people of both countries a better life. The gangsters and the Al Capones can go on and talk to whoever they want about gangland warfare. China should rise above the occasion and avoid being dragged into gangsterism. Santa Claus does not have to pour out his bag of goodies if the children misbehaved.

Low TFR, foreign talent help needed

Our Total Fertility Rate has sank to a historical low of 1.16 last year. This is way below the replacement level of 2.1. We need help and foreign talents are needed in this area. Yes foreign talents will increase our population to sustain our economic growth and also improve our gene pool. What is the problem with our men, or our women? Is it their problem or is it the social cost that is too punitive for them to reproduce? If it is just biological, the problem can be solved much easily. If man is the problem, set up a sperm bank, get the virile men, local and foreign also can, and start inseminating our women. If woman is the problem, maybe a little tweaking in our laws may help. Allowing the men to have more wives would solve a lot of social problems, including single old maids. SDU would not have to work that hard. Allowing men to have more than one wife due to infertility problem has historical and cultural precedents. Our Muslim comrades have understood this problem since time immemorial and the religion has a provision for it. If the problem is social and financial cost, then the problem needs to be addressed at the national level. If young couples find it prohibitive to raise children, whose fault is it? Many young couples are thinking people and know how costly it is to raise kids in this high cost hot house. How about the govt taking over the role of bringing up kids, only the financing part? The last Parliament there were talks of govt taking over the care of children from parents who could not afford to bring them up properly. So why not take this further and make it a national service by the govt? I am very sure productivity will go up so high that the govt will have to put in stops to prevent couples producing too many children. It is all about being able to pay for the upbringing up children, Watson! No need to think too hard. The young couples have thought through the whole process and understood what it cost. And for being thoughtful and responsible, they are punished for not producing. And the thinkers and planners are still lost as to why they don’t produce. On the contrary, the irresponsible and unthinking will keep on reproducing and the govt has fallen into the trap of raising their children for them. Come on, do the simple thing. No need to covet for foreign talents and their bodies. Just provide the finances, and of course all the rulings about how many children will be supported, and the children will come. No need to kpkb everyday that our TFR is going lower. Stare at the problem. Don’t look away, don’t look outside our borders. This is the same attitude as in bringing in foreign talents to replace our healthy, well educated local talents.

It’s a big gamble

Goh Eng Yeow wrote an article about Bold Ambition and Big Gamble in the ST last week. SGX is taking a big gamble to turn itself into a New York or London in the finance industry. It is pulling all the stops, all the strings, putting money where it is to bring in the giants, the big funds and their big machines, high speed computers, to turn SGX into a world class bourse. In his comment he said, ‘The SGX has wagered a lot of time and money with no guarantee it will pay off.’ He concludes by saying that ‘the greatest irony of the SGX approach: For all its initiatives and innovations, the fate of its ambitious strategy now rests with the aussie politicians.’ Another irony that I may add is that the aspiration also rests on the small pool of small investors waiting to be eaten up by the big funds and their mean machines. The question I like to ask is whether Singapore has a big enough base of investors, with the dough, to be a world class stock exchange? Or does a world class stock exchange need a pool of small investors or just the big funds and their machines will do the trick? Another question of moral responsibility. In the madness to be big, are there considerations and systems put in the protect the small investors. Or the small investors are just collateral damages for the goal of being big for the sake of being big?

The Crooks accusing a Whistle Blower

A Swiss whistleblower, Rudolf Elmer, will be charged in the Swiss court for breaking Swiss banking secrecy laws. Rudolf will be turning his compilation of bank data showing money laundering and tax evasion to WikiLeaks. The data is proof of the banks misdeeds and those of its officials and their customers. Rudolf was the COO of Julius Baer bank in the Cayman Islands but was fired for stealing the information. This is what he said. ‘The one thing on which I am absolutely clear is that the banks know…that money is being secreted away for tax evasion purposes, and other things such as money laundering.’ The bank’s reply is that Rudolf’s aim was ‘to discredit Julies Baer as well as clients’ by spreading “baseless accusations” and passing on “unlawfully acquired” documents to the media and WikiLeaks.’ If Rudolf is speaking the truth, then we have a bunch of criminals suing an innocent man. Accepted technically that he breached the banking laws, but what if the laws were abused by the banks? Would that absolve Rudolf of his crimes? The second part is that the bank has taken the position that Rudolf is lying and falsifying documents. The bank has thus taken a stand and can be hanged for it if it is found to be telling lies instead. The other frightening thing is that states could pass anything as laws, in this case banking secrecy acts, so that they can do criminal and immoral things. And breaking the laws becomes a crime. How neat. It is an open secret that many criminals and robbers parked their money in Switzerland and are protected by these laws. Who should be hanged then? When laws are for wrongful purposes, then the laws are a crime in itself.

Perfect solution to the stock market farce

Asian stock markets are being coerced to cut down their lunch breaks, and better, no lunch breaks to increase their productivity and facilitate cross border trades. The latest victim is Hongkong halving its lunch break from 2 hours to one hours. Tokyo too will have its lunch break cut. Singapore is contemplating of doing away with the lunch break completely, which is likely to happen on 1 March. One of the solid reasons given is to reduce the advantage/disadvantage of differences in trading hours. By doing away with lunch breaks and to extend the trading hours, stock exchanges will now operate with at least similar trading hours or overlapping hours. That will ease off a lot of the disadvantages. To me this is a little foolish. As long as the stock markets across the world are operating at different hours because of the different time zones, no amount of time adjustment or no lunch breaks can be of any great help. The advantage is minimal but the price paid by the stockbrokers is not small. There is a perfect solution to all the farce about different trading hours and trying to bring them as close as possible. Actually there are two answers. One is to operate stock markets on a 24 hour basis. The second is to use Greenwich Time and all stock markets shall operate at the same hours. See, all the farce will go away. Stupid problems need to be solved by stupid solutions. Red herring problems can be solved by applying twisted logics.