Exits weaken team

This is the title of an article in the ST forum today by a Lim Chuan Hock. He was lamenting on the departure of LKY, Chok Tong, Jayakumar and George Yeo from the govt. He felt that the team has been weaken from their departure. He acknowledged and praised the senior politicians for their contributions to what we are today. I can share his fear and concern for the weak team that is left behind. After so many years of being in office, and many are already nearing their sixties, the perception is that they are not good enough, probably still immature perhaps, that without the presence of the yodas to guide them, they are going to see hard times. And Singaporeans are nervous under their charge. They really need the yodas to be around to be safe. Isn't it sad that the current crop of leaders is still seen as inept, that they are unable to give the people the confidence that with them in charge, things will be better than before? Though I share the writer's concern, I think things should brighten up. The first sign of a better future is the increasing sales of private properties and at higher price. I can continue my dream of selling my HDB flat at $1m. This piece of good news is everywhere in the media. All the HDB flat owners must be very happy and waiting for the perfect timing to sell off their milllion dollar flats. Thank God that they have return the PAP to power. Have no fear. The new team will do much better than the yodas. Unless we are saying that the yodas are indispensable and the new teams will never grow up.

Green monster

A green monster watching a dancing flame. More photo paintings in Art of RAR Gallery on top right.

Whither the Stock market?

What would happen if there is no retail traders left in the market, of if the number is too small to be meaningful? The last few weeks told a story of a stock market that is verging on the edge of being barren, when retail or genuine investors have abandoned the market for their own safety. At 1 billion shares transacted daily, there was hardly any phone ringing in the trading floor of broking houses. Compare this to the heydays of the 1990s when a billion shares were traded, the phones of all the remisiers would not stop ringing for the whole day. In fact many had problems picking up their phones as two or three phones would be ringing at the same time. The tradings then were genuine, by traders and retail investors. Today, despite the hue and cry of 1 billion or 2 billion shares traded at times, remisiers are biting their finger nails wondering why there is no phone call from their clients. In a way the volume is generated by artificial trades, programme tradings, churnings by funds, high speed tradings, all generating no commissions, as they were either house trades or funds’ own tradings. And the funds are demanding that the system be made more friendly for them to trade, even making it cheaper, or to trade for free. The stock market has been transformed to the likes and dictates of the big funds to facilitate their tradings. What the regulators have forgotten is that the funds are not here to do charity. They are in the market for profit. And, unfortunately, stock market trading is a zero sum game. When the funds are making profits, someone else is losing his pants. We have reached a state when most of the big retail traders and investors have lost practically everything and are no longer in the market. Only a few small traders who have not lost their savings yet, and a few remisiers who still have some money left to lose, are left in the market. As days pass, this number is going to dwindle to non existence, if the system continues in this mode. The question is whether the broking houses can survive without the income from commissions generated by the retail investors or high net worth clients? The exchange can still laugh all the way to the banks with the clearing fees from the high volume. But the high volume means nothing to broking houses that have to feed all its staff, rentals, overheads etc etc. When retail trading reaches a point that is no longer able to sustain the business, the broking houses will have to pack their bags or downsize. But even before that, the funds that the exchange is begging to trade in the market will be the first to disappear from the scene. When there is no money to be made, there is no reason to be here even if they can trade for free. Who is left to feed the big funds? Can the stock market continue to exist without the participation of genuine investors? Can the current mode of operation that favours the big funds sustain the business of the stock exchange? As Merlin continues to wave his magic wand, the stock market is turning into a toad instead of a prince. And no one knows what is wrong with the market. They think that they can keep waving the magic wand and something good will come out from it when fundamentally the market is rotting at the core.

A church besieged

George Yeo figuratively described the PAP as a broad church. Now you can understand why the ‘pastor’ called on the sinners to repent, and why the believers shouted, ‘In George we trust!’. This new religion can be appropriately called Papism, or shall it be called Papianity? It is a big church in all counts, and very powerful with hundreds of thousands of staunch believers. It can and has blessed many people to richness and a good life. It serves the people and works for the good of the people. It has its own belief system and commandments of course. It also has a jealous god. It does not take it kindly on believers of other gods. It cannot tolerate the existence of other gods. And of course it is a white god and all its angels are in white. Not forgetting the church elders elevating themselves to higher mortals. In its early days there were persecutions of the non believers. Some were imprisoned, some burnt at the stake, some fled. It was fortunate that the persecution did not reach the level of the Inquisition. Lately the Holy Order has taken some knocks. The quest for material well being instead of spiritual well being has unsettled many believers. The absolute power of the Holy See is also being questioned. The mantra that ‘We are gods’ is starting to be ridiculed. Even ministers are questioning the wisdom of the core beliefs. There are signs that some reformists are attempting to break away from the church. There is a high possibility that a protestant movement may surface and a breakaway church of Singapore be founded to rival the old church. The making of a new church is eminent. Some ministers have openly criticized the old church and have left. Many believers are troubled with their belief and may just join the new church. They would want a new beginning and not more of the same. The old church has simply grown too big, a mega church, too rich, too many members who are not really believers but eat religion to get fed and wealthy. Verily I said unto you. Whoever believes in me shall have everlasting life. Seek ye first the truth, and the truth shall set you free. Amen. PS. I am posting this for fun reading, political humour. Please don’t call me a mobster.

I Turkey, I Duck

A turkey and duck standing side by side with the turkey in the far side. Another interpretation is that the duck is the turkey and the turkey behind is saying I duck. More pics in Art of RAR Gallery in top right link.