The MF Global sham must have triggered MAS into action. Or is it Paul Volcker’s recommendation for more regulation than deregulation? Well, MAS is introducing more regulations to prevent more lemons appearing in our financial market, to protect the average investors. Sophisticated instruments, derivatives etc will now be subject to more regulations to prevent innocent, ignorant and unsophisticated investors from being sucked into the quagmire and lose their life savings.
It is a good start, albeit a little too late and a bit too little. The measures taken are still too inadequate to prevent the loss of billions to the big funds which is happening daily. It is not just the derivatives and sophisticated products that are at fault. There are system faults that cannot go on like this.
The derivatives are now seen as dangerous, if not toxic. If they are dangerous, shouldn’t they be taken out of the system completely? Or it is okay to sell poison as long as the buyer knows that it is poison? This is a philosophical question. It can be a matter of right and wrong, a moral issue.
Derivatives are not only dangerous by themselves. The fact that they are derived from the major stocks in the market will also put these stocks at risk to grave manipulations. The intrinsic values of these component stocks will be of no bearing to the speculators whose only interest is profit by pushing the stocks up and down, at high speed.
The more dangerous development is to allow funds to hook up their computers to the stock market system. This is unfair in many counts. They could trade at high speed with the advantage of high speed computers and with the information provided by the system that the average investors are not accessible to. And they could use big muscles, with practically unlimited trading limits to corner stocks, to move stocks at will.
Cornering of stocks, buying and selling without change of ownership are all against the rules and regulations of the stock market. Are the funds doing it, or allow to do it?
For several years, the investors have been brought to the cleaners by the big funds. A report on who are the main winners and who are the losers would tell the story much clearer on how the system is disadvantaging the average investors.
MAS could have done more to ensure that the stock market is a level playing field to all investors, big or small. Funds can play with their sophisticated computers, algos, big war chests, but must not be allowed to hook their computers to the exchange. This is the least that MAS has to do.
11/11/2011
Smaller flats do not compromise on quality of life
This is another political truth that Singaporeans are going to make to believe in. Drinking shit water is good. No car will not affect the quality of life. Two working parents too will not affect family life as quality time is more important. HDB flats are affordable, are affordable and stop complaining that it is not.
Singaporeans are not gullible. They are only easily made to believe whatever political truths they are made to believe. Foreign talents are here to help them and not competing with them for jobs or facilities. Foreign talents are better than local talents.
As far as living in small flats or mickey mouse flats are concerned, just compared with Hongkong and Japan and we will feel so blessed. In Hongkong a designer can even turn a 300 sq ft unit into a lifestyle statement. On entering the unit, he says, welcome to my living room. Then he pull down a shelf, without moving from the spot he is standing, he will say, welcome to my kitchen, next by moving a panel, he says, this is my toilet. Then pushing another panel and pulling out a sofa bed, he says here is my bedroom.
All high tech staff, futuristic, with expensively designed furniture and fittings. His life style is definitely not affected. In fact he will show off his cleverly designed flat as a statement of style.
Seriously, what kind of flats, what size is needed for a decent flat to raise a family with two children? Have we forgotten about family and children? Maybe we have accepted that the family shall be small, with one or two children or no children at all. Get use to the smaller flats. There is no contradiction or conflict in policies, definitely.
But having two children still needs a lot of space for growing up, for grandparents or a maid. Oh, we used to have many bodies in a cubicle. Two on the beds, two under the beds, one on the table, one under the table, one in the kitchen and a few more in every corner of the room. How can we complain about smaller flats? We have progressed, like back to the future.
The thing is that why are we squeezing our people into smaller spaces. Or is it to make room for more foreigners, for 10m population? Is a bigger population indispensable, which our progress depends on it and is the quality of our life? If the quality of life is living in smaller and smaller flats that are going to cost more and more, I think this kind of progress can be done without.
Are we serious in wanting parents to have children, to have three tiered families? Sure, it only depends on whether you can afford it. Having more children and three tiered families in a 10,000 sq ft or 20,000 sq ft property should be no problem. When you can’t afford that, live within your means and try clever redesigning, clever use of space like squeezing the maids with the grands or the children or in the store room.
The quality of our life style will definitely not be affected. It is only an issue of affordability and living within your means.
Singaporeans are not gullible. They are only easily made to believe whatever political truths they are made to believe. Foreign talents are here to help them and not competing with them for jobs or facilities. Foreign talents are better than local talents.
As far as living in small flats or mickey mouse flats are concerned, just compared with Hongkong and Japan and we will feel so blessed. In Hongkong a designer can even turn a 300 sq ft unit into a lifestyle statement. On entering the unit, he says, welcome to my living room. Then he pull down a shelf, without moving from the spot he is standing, he will say, welcome to my kitchen, next by moving a panel, he says, this is my toilet. Then pushing another panel and pulling out a sofa bed, he says here is my bedroom.
All high tech staff, futuristic, with expensively designed furniture and fittings. His life style is definitely not affected. In fact he will show off his cleverly designed flat as a statement of style.
Seriously, what kind of flats, what size is needed for a decent flat to raise a family with two children? Have we forgotten about family and children? Maybe we have accepted that the family shall be small, with one or two children or no children at all. Get use to the smaller flats. There is no contradiction or conflict in policies, definitely.
But having two children still needs a lot of space for growing up, for grandparents or a maid. Oh, we used to have many bodies in a cubicle. Two on the beds, two under the beds, one on the table, one under the table, one in the kitchen and a few more in every corner of the room. How can we complain about smaller flats? We have progressed, like back to the future.
The thing is that why are we squeezing our people into smaller spaces. Or is it to make room for more foreigners, for 10m population? Is a bigger population indispensable, which our progress depends on it and is the quality of our life? If the quality of life is living in smaller and smaller flats that are going to cost more and more, I think this kind of progress can be done without.
Are we serious in wanting parents to have children, to have three tiered families? Sure, it only depends on whether you can afford it. Having more children and three tiered families in a 10,000 sq ft or 20,000 sq ft property should be no problem. When you can’t afford that, live within your means and try clever redesigning, clever use of space like squeezing the maids with the grands or the children or in the store room.
The quality of our life style will definitely not be affected. It is only an issue of affordability and living within your means.
A specialist hospital across the causeway
Peter Lim and the Sultan of Johore are building a specialist hospital just across the causeway to cater for Johoreans and Singaporeans. This is the best joint venture to date coming from Johore. And the involvement of the Sultan will eradicate a lot of petty problems that could be conceived from petty minds.
When I wrote about such an option, my main worry is the use of CPF for medical treatment in the Iskander. You know, it can be something like the ¾ tank rule all over again. Then it is as good as a no go. With the Sultan’s stake in the hospital, we can be sure that this is not going to happen. It will definitely give the hospital a big boost in drawing more Singaporeans over.
On the Malaysian side, the Sultan’s presence can ease many unnecessary troubles. The most obvious is to ensure that crime against Singaporeans using the hospital is not an issue and the police would have to work harder on this. Then without Mahathir in the kitchen, hopefully no UMNO leaders will agitate against Singaporeans using their facilities or jamming their roads, raising cost of living.
I am really looking forward to a successful symbiotic relationship between the two sides that improves the lives of both people. The Johoreans will benefit from a world class hospital and its supporting industries. Singaporeans will not be squeezed by the local hospitals and have a meaningful alternative across the causeway.
It can be a real win win situation and not mere lip service.
When I wrote about such an option, my main worry is the use of CPF for medical treatment in the Iskander. You know, it can be something like the ¾ tank rule all over again. Then it is as good as a no go. With the Sultan’s stake in the hospital, we can be sure that this is not going to happen. It will definitely give the hospital a big boost in drawing more Singaporeans over.
On the Malaysian side, the Sultan’s presence can ease many unnecessary troubles. The most obvious is to ensure that crime against Singaporeans using the hospital is not an issue and the police would have to work harder on this. Then without Mahathir in the kitchen, hopefully no UMNO leaders will agitate against Singaporeans using their facilities or jamming their roads, raising cost of living.
I am really looking forward to a successful symbiotic relationship between the two sides that improves the lives of both people. The Johoreans will benefit from a world class hospital and its supporting industries. Singaporeans will not be squeezed by the local hospitals and have a meaningful alternative across the causeway.
It can be a real win win situation and not mere lip service.
11/10/2011
Notable quote from LKY
"If you don't include your women graduates in your breeding pool and leave
them on the shelf, you would end up a more stupid society...So what happens?
There will be less bright people to support dumb people in the next
generation. That's a problem." - MM Lee in 1983
Someone sent me this quote and after reading it I was a bit puzzle. I can’t figure out ‘less bright people to support dumb people in the next generation.’ I think I got a mental block here. I am intrigue by this quote. Please read it carefully and find the intricate truth it is revealing.
them on the shelf, you would end up a more stupid society...So what happens?
There will be less bright people to support dumb people in the next
generation. That's a problem." - MM Lee in 1983
Someone sent me this quote and after reading it I was a bit puzzle. I can’t figure out ‘less bright people to support dumb people in the next generation.’ I think I got a mental block here. I am intrigue by this quote. Please read it carefully and find the intricate truth it is revealing.
Selling junks is a crime!
The scavenger went to the junk yard to hunt for usable parts, took them home, sieved out the usable parts, repaired or refurbished them and sold them in the market. Is that a crime? Definitely not. What if they are military parts, is it a crime?
According to two hawks in the US Senate, Carl Levin and John McCain, it is a crime against the US. Selling them is like selling counterfeit parts. Are they counterfeits? They are genuine parts! The only thing is that they are discarded junks and the junk scavenger took the initiative to find them and rework them into working parts. If this is not allowable, then all the junk yard operators should close down.
So what if they are military parts when there are willing buyer and seller. And these are not really arms parts but electronic parts from old circuit boards which can be used for anything, not necessarily weapons. And there are millions of them floating around. How could there be millions of them be floating around when they are parts of weapons? But that was what the American Defence Department claimed.
The two senators are using this accusation as an excuse to create problems for Chinese electronic parts entering the US. They wanted to use it to justify inspecting all Chinese shipments to the US. Basically these jokers are sick, running out of ideas. They still think that it is a one way affair, that they can make life difficult for China, bully China. The game can be played both ways and many American goods going to China would likewise be subject to the same courtesy.
According to two hawks in the US Senate, Carl Levin and John McCain, it is a crime against the US. Selling them is like selling counterfeit parts. Are they counterfeits? They are genuine parts! The only thing is that they are discarded junks and the junk scavenger took the initiative to find them and rework them into working parts. If this is not allowable, then all the junk yard operators should close down.
So what if they are military parts when there are willing buyer and seller. And these are not really arms parts but electronic parts from old circuit boards which can be used for anything, not necessarily weapons. And there are millions of them floating around. How could there be millions of them be floating around when they are parts of weapons? But that was what the American Defence Department claimed.
The two senators are using this accusation as an excuse to create problems for Chinese electronic parts entering the US. They wanted to use it to justify inspecting all Chinese shipments to the US. Basically these jokers are sick, running out of ideas. They still think that it is a one way affair, that they can make life difficult for China, bully China. The game can be played both ways and many American goods going to China would likewise be subject to the same courtesy.
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