Notable quote by Hsien Loong

‘Drawing on our reserves should only be an absolutely last resort’ Lee Hsien Loong

Hsien Loong cautioned against the worsening world economy and that the govt may have to dip into the reserves again. But this will only be done as an absolutely last resort thing.

I also remember Leong Sze Hian saying that during Nathan’s term as President, the reserves were used for something like 29 times. Correct me if I have misquoted Leong Sze Hian. I think my memory is still ok and I am not suffering from dementia. And one of the reasons for using the reserves was for SERS, en bloc resettlement of HDB flats. True or not!

Pulling down old flats to build new ones is so serious that our reserves were used. Must be absolutely last resort or else something serious would happen to our economy or maybe the new immigrants will go rioting for not having a place to live.

If SERS scheme could justify for the use of the reserves, what else can’t? I think I must have heard wrongly, and there is absolutely nothing wrong with my dementia. Hearing problem? Maybe.

Political appointments, public employees or private employees

Recently some politicians lost the election and their well paying jobs as politicians. I am wondering where have they gone to? Have they found jobs in the private sector or have they been employed in the public sector, or have they been appointed by the govt into jobs that are paid by the public coffer?

There should be no issue if they are gainfully appointed by the private sector for their talents. It will be interesting to find out if they are being employed as public employees or civil servants and how much are they being paid in their new jobs. If the jobs are paid by taxpayers’ money, shouldn’t the taxpayers want to know what is happening?

What if they are appointed as advisors to grassroots organizations? Are these appointments paid or they are doing voluntary services for the community, no pay, like volunteers to social institutions?

The irrational considerations of the presidential election

Let’s talk money. Not that this election is all about money, but it is an interesting angle to pursue. Let me start by dangling a $24 million carrot to see the temptation. It could be twice or three times this amount. A $650k Toto jackpot is really a peanut compares to this handsome reward. Striking Toto 10 times would only bring in a miserly $6.5 million. And you know how difficult it is to hit the Toto jackpot even once, and 10 times is simply impossible.

With such a big carrot dangling, it is unbelieveable that only 6 Singaporeans would want it. Singaporeans are either insensitive to the temptation of money, or simply idiots. Of course the stringent criteria just said, you need to be very rich and clever to apply. Entering the contest is as difficult as a camel entering the eye of a needle.

The next big mystery is for Tony Tan to quit his two well paying jobs to place his bets on the Presidency. If he loses, he will have lost the two well paying jobs and their huge salaries. If he won, he may win less than what he used to get. Now, which is paying more? The Presidency or the two jobs in GIC and SPH? It is bonkers if the two jobs pay more than the Presidency!

And the daft Singaporeans did not think much of the millions to be paid out for the Presidency. Maybe they did not think it was their money. And when Tan Kin Lian and Jee Say offered to take $2m and $500k respectively for the job, they rejected both of them. The Singaporeans rather pay $4m+ than $2m or $500k per annum to the resident of the Istana. And between the 4, every one of them can more than adequately do the job of the Presidency, all fully qualified and passed by the PEC. They are all suitable for the job.

The only one sensible, or a real gambler, in my opinion, is Tan Kin Lian. He staked $48k plus some expenses for a return of many times more. This is practical reasoning and risk worth taking. I may want to consider placing my bets in the next round.

Now, how much did it cost to hold such an election to all parties? The one day of holiday with pay to every worker, the number of hours put in by the election committees and helpers, holiday overtime pay means double pay. The advertising and logistics costs of the candidates. The time and effort of more than 2 million voters also cost a lot of money.

And all the money to vote for a non executive President that can only speak with the permission or advice of the cabinet! A lot of money spent really, for a virtually ceremonial President that many have voiced that they rather not have.

Heard that one candidate sent flyers to every household in the island, assuming 900,000 households at $1 per flyer(postage and sundry), this alone is a cool $900k.

Is it money well spent? I think so, with the jackpot standing at a minimum of $24m or maybe $50m.

Now who dares to accuse Singaporeans of being money greedy? So much money for the taking and only 6 are honest enough to want to have a go at it. And one even gave up more in return for less. Singaporeans are so rich now that money is no longer a useful stimulus to excite them.

Cheng Bock was the Chosen One

Given the choice, the people will want Cheng Bock as their President. His marginally lost in the election is a technicality. The number of candidates was the main cause of his lost. A straight fight will give Cheng Bock the 30% won by Jee Say and Kin Lian. These are hard core anti PAP votes that will never lend on Tony’s lap and will give Cheng Bock a very comfortable 65% victory.

The polls in mysingaporenews are telling. There is still this corner of the population that is very unhappy with the new President. I do not see how Tony can bridge this gap to endear to this group of people. And this group consists of the hard core 30% plus a big portion of those who had voted for Cheng Bock.

Just ask around, anyone in the street, many will express their disappointment. It is not a contrived argument but a statement of fact. The PAP camp may claim 70% or 100%, the truth is that, unfortunately, Tony is not their desired President of choice.

Time for an Ombudsman

The way the CPF savings are getting further and further away from the people is no laughing matter. The delay in returning the money to the people, the inflating of minimum sums in CPF and Medisave both means that the owners are finding it more and more difficult to get in touch with their hard earned money. And you have jokers ridiculing the people’s stupidity by claiming to be very happy looking at a monthly statement saying how much is in there. In a way it is telling the people to be happy with the piece of paper even if the money is not touchable.

The most distressing part is that the people’s life time saving is now part of the nation’s reserve and can be invested by people who did not need to ask permission from the rightful owners of the money. The smell of blood, sweat and tears are in the CPF money. Who is so irresponsible and outrageous to think that it is ok to take the people’s money to ‘invest’ and claim credit, pay themselves insane bonuses when luck is with them, but if the money is lost, just pat their backside and simply walk away?

The very thought of taking the people’s hard earned money against their interests and will is evil to the core. It is irreprehensible for anyone to think that it is alright without any sense of guilt. It is morally wrong and criminal.

It is time to appoint an ombudsman to look into the people’s life time saving and find ways to return to them while the money is still there. There can never be any good reason, nothing, that can justify depriving the people from their savings.

I say again, anyone with designs on the people’s life savings is evil and wicked. They shall be punished, and it is only a matter of time. If there is no human law to deal with them, they will still have to answer one day. In the mean time, keep playing with the people’s money. There is no where to run from the guilt of conscience.