Botanic Garden has appointed a Briton as the head of the
Garden after an international search. With his reputation as head of the fame Kew Garden in London, his credential is unmatched by any Singaporean. With this move to search the international arena for the best talents to help Singapore to become a betterer country in everything, it is a matter of time before they go on an international search for the Prime Minister’s post. They may also look into the position of the President. George Bush is here, and they may want to sound him out if he is interested. We can’t have these high profile positions filled by nerdy looking candidates.
We have sent so many students to the best universities in the west to learn from the best. Many would have studied in the same university as the newly appointed director. Why is it that he is betterer than all the best Sinkies we have? Did they keep a few secret chapters to themselves and would not teach foreign students so as to maintain their higher level of competence? I don’t think that is the case.
I think it is in the blood. The Westerners have good genes, genes that will automatically put them as choiced CEOs. Even if they are educated in their worst neighbourhood university, they will still look like a leader and will be hunted down by international search firms for countries that lack leaders, like Singapore.
Should the govt continue to send coolie children to the great universities of the West when they will still return looking every inch a coolie, no leadership quality? I think a better option would be to breed them. Take our best and marry the best of the Westerners. Then maybe there will be hope that the new Sinkies would be of leadership material to lead our national institutions, and looking every inch like an angmoh, suave, refined, handsome and six feet tall.
12/05/2011
12/04/2011
The robbers are complaining
This world is getting crazy. The robbers that are fleecing the consumers by selling them highly priced items are complaining that no one is allowed to sell items priced lower than them. The Americans are threatening sanction against China for selling solar energy equipment at a cheaper price than them. This is a new kind of crime as it deprives them of higher profit by selling goods at higher prices.
Should not the Americans and the world be thankful that China could produce things cheaply and sell them cheaply as well? Anyway this international robber has had it so good for so long that he is now up in arms and threatening everyone with sanction for not getting his way, to rob.
Yes, sanction is the only word that the Americans knew. Who was that woman that professed that the Americans would not resort to coercion or threats against other countries? White lie! No, no, she is saying white truth.
And the Latin American countries, including the Caribbean countries, all 33 countries, are going to form their own economic association, not military alliance, and will exclude the US and Canada. Yes man, the Americans and the Canadians will be left out in the cold. They are smart enough not to allow them to muscle in to be the leader by coercion.
At least the Latin Americans are smarter and could get their acts together, to do what they think is best for themselves. They want to decide what is best for them and not be dictated by the Americans.
Would the stupid Asians and Africans learn to be wiser? Afraid not, with the Philippines behaving like a super power, happily arresting Chinese fishermen and thinking that China would not dare to kick their asses. And with kind of provocation by a pest, and if China reacts, the gangster will march and all the western media will cry out at the same time, that China is being assertive, bullying a pesky little country like the Philippines. And all the silly Asian countries will believe, and pretend to be in fear.
Anyway, with the unthinking Asians and Africans, it is their fate to be ruled by the Americans and to be led into another war among themselves. I just hope and pray that President Chavez of Venezuela will not be assassinated by the drug lords. Of course it will be done by the drug lords, NEVER will the Americans assassinate another country’s president. They are just so peace loving, and always use diplomacy and peaceful negotiations to settle international relations issues. No, they don’t even use threats or coercion.
No wonder the Asean countries are so happy to embrace the Americans to be the leader of Asean.
Should not the Americans and the world be thankful that China could produce things cheaply and sell them cheaply as well? Anyway this international robber has had it so good for so long that he is now up in arms and threatening everyone with sanction for not getting his way, to rob.
Yes, sanction is the only word that the Americans knew. Who was that woman that professed that the Americans would not resort to coercion or threats against other countries? White lie! No, no, she is saying white truth.
And the Latin American countries, including the Caribbean countries, all 33 countries, are going to form their own economic association, not military alliance, and will exclude the US and Canada. Yes man, the Americans and the Canadians will be left out in the cold. They are smart enough not to allow them to muscle in to be the leader by coercion.
At least the Latin Americans are smarter and could get their acts together, to do what they think is best for themselves. They want to decide what is best for them and not be dictated by the Americans.
Would the stupid Asians and Africans learn to be wiser? Afraid not, with the Philippines behaving like a super power, happily arresting Chinese fishermen and thinking that China would not dare to kick their asses. And with kind of provocation by a pest, and if China reacts, the gangster will march and all the western media will cry out at the same time, that China is being assertive, bullying a pesky little country like the Philippines. And all the silly Asian countries will believe, and pretend to be in fear.
Anyway, with the unthinking Asians and Africans, it is their fate to be ruled by the Americans and to be led into another war among themselves. I just hope and pray that President Chavez of Venezuela will not be assassinated by the drug lords. Of course it will be done by the drug lords, NEVER will the Americans assassinate another country’s president. They are just so peace loving, and always use diplomacy and peaceful negotiations to settle international relations issues. No, they don’t even use threats or coercion.
No wonder the Asean countries are so happy to embrace the Americans to be the leader of Asean.
Surrendering one’s right
Political activists are always a minority in all countries. But they are organised, just like gangsters. And as an organised force, they wield tremendous power over the people. They dictate how society should be structured, how people should live their lives, they control and run the country in the name of being the govt, elected, self appointed or by inheritance.
When a country is blessed, the political leaders are wise and will make decisions for the good of the majority. Some could really be idealistic and selfless. On the other extreme, political leaders could be selfish, self serving and ruthless. Most political leaders lie in between the good and the bad, some uglier than others.
We are blessed with good fortunes for 4 decades, with the winds blowing our way and with good men and women assuming political leadership. The blessing has made Singaporeans apathetic to what is going on around them. They surrendered their rights to decide what is best for them and allowed the political leaders to think and decide for them. Can’t blame them when good and talented leaders are thinking and working for them. When good men are in charge, an amicable populace that give the leaders a free hand will facilitate more efficiency in policy making. When not so good men are in charge, such a situation will hasten the making of bad policies.
Has Singapore reach a stage when bad policies are being made and claimed as good policies and shafted down the unthinking populace who have forgotten that they are the one to decide what is best for their own good? Or would they continue to let political leaders to rubbish them with flawed or half baked ideas and policies and tell them that they are good, the way forward?
There are many policies which I personally think are bad for the people. But the people think otherwise. Some still think that they are good. Some unsure and some just do not want to think.
This morning I will just touch on small is good. This is the new idea that is being spread in the media. Small is good, in fact can be better. So Singaporeans are being prepared mentally to expect to live in smaller spaces and pay more for them, as they are told that it is a good thing. One issue is whether this is really good or another Singaporean myth that daft Singaporeans will have to live with. The second point is whether daft Singaporeans are willing to accept this new myth and allow their lives to be structured around small is good. The third issue, which Singaporeans would not want to think about, is whether this is inevitable, that there is no way out. That we must keep increasing out population to eat up all the space that is needed for a decent and healthy living environment?
If they continue to surrender their rights to decide what is good for them and their children, it will be soon that they find themselves living like the Hongkies and the Japanese in Tokyo and trying to compete to see who is more ingenious in living like dogs in kennels.
I think it is okay for dogs to live in kennels as they are not supposed to think and will accept whatever the master provides. But some masters are more generous and even petition the govt for more space for their dogs to run around, to swim in public pools or the seas.
One day, Sinkies could really be competing with dogs for more space and the ending will be that the dogs will win and the Sinkies will have to be content to live in dog’s kennels. Have Singaporeans awaken to their rights to think for themselves, to think what is good for themselves? Or would they allow some foreigners or jokers to tell them that living in dog’s kennels is good?
I must say that some political leaders are wise, some think they are wise, and some strongly believe that they are wise, and all their policies are also wise. And when they proclaim something is good for the people, it must be good for the people. Would Sinkies be bothered at all, I mean the average Sinkies that are at the wrong end of the stick?
When a country is blessed, the political leaders are wise and will make decisions for the good of the majority. Some could really be idealistic and selfless. On the other extreme, political leaders could be selfish, self serving and ruthless. Most political leaders lie in between the good and the bad, some uglier than others.
We are blessed with good fortunes for 4 decades, with the winds blowing our way and with good men and women assuming political leadership. The blessing has made Singaporeans apathetic to what is going on around them. They surrendered their rights to decide what is best for them and allowed the political leaders to think and decide for them. Can’t blame them when good and talented leaders are thinking and working for them. When good men are in charge, an amicable populace that give the leaders a free hand will facilitate more efficiency in policy making. When not so good men are in charge, such a situation will hasten the making of bad policies.
Has Singapore reach a stage when bad policies are being made and claimed as good policies and shafted down the unthinking populace who have forgotten that they are the one to decide what is best for their own good? Or would they continue to let political leaders to rubbish them with flawed or half baked ideas and policies and tell them that they are good, the way forward?
There are many policies which I personally think are bad for the people. But the people think otherwise. Some still think that they are good. Some unsure and some just do not want to think.
This morning I will just touch on small is good. This is the new idea that is being spread in the media. Small is good, in fact can be better. So Singaporeans are being prepared mentally to expect to live in smaller spaces and pay more for them, as they are told that it is a good thing. One issue is whether this is really good or another Singaporean myth that daft Singaporeans will have to live with. The second point is whether daft Singaporeans are willing to accept this new myth and allow their lives to be structured around small is good. The third issue, which Singaporeans would not want to think about, is whether this is inevitable, that there is no way out. That we must keep increasing out population to eat up all the space that is needed for a decent and healthy living environment?
If they continue to surrender their rights to decide what is good for them and their children, it will be soon that they find themselves living like the Hongkies and the Japanese in Tokyo and trying to compete to see who is more ingenious in living like dogs in kennels.
I think it is okay for dogs to live in kennels as they are not supposed to think and will accept whatever the master provides. But some masters are more generous and even petition the govt for more space for their dogs to run around, to swim in public pools or the seas.
One day, Sinkies could really be competing with dogs for more space and the ending will be that the dogs will win and the Sinkies will have to be content to live in dog’s kennels. Have Singaporeans awaken to their rights to think for themselves, to think what is good for themselves? Or would they allow some foreigners or jokers to tell them that living in dog’s kennels is good?
I must say that some political leaders are wise, some think they are wise, and some strongly believe that they are wise, and all their policies are also wise. And when they proclaim something is good for the people, it must be good for the people. Would Sinkies be bothered at all, I mean the average Sinkies that are at the wrong end of the stick?
12/03/2011
Iskandar will be Singapore’s nemesis
The Iskandar Economic Zone, if it flourishes from all its potential, will be Singapore’s nemesis. Is has all the advantages over Singapore. It’s proximity could allow it to exploit fully, Singapore’s weaknesses and advantages to grow into a major economic centre. Given the right attitude, strong and task oriented management that is tenacious in the pursuit of its economic goals, the bulk of Singapore’s economic activity could go north, right into Iskandar.
This is the potential that Iskandar holds for the future. But there must be a political will to want to do that, to accept that economic growth and a highly intensive growth programme could also demand a price from the state. The cushy and laid back life style would be compromised, the pace of life fasten, and cost of living will rise.
Singapore has on its own way driven itself out of competition except for some key areas where it can still hold a big advantage over Iskandar, the financial centre, the expensive and presumably good consumer markets, education, perhaps medical sciences, and high tech industries. But for these Iskandar can live with as there are many areas that Iskandar can take over and grow with a big advantage in cost of labour and land.
Singapore would have to give up many of its industries that are no longer competitive. It would only be able to hold on to some core interests. The rest of the economy, the bulk of its economic activities, will have to flow into Iskandar.
And it is not all bad really. Both will benefit from the expansion of the economic zone from Singapore into southern Johore. Of course Singapore would have to give up and lose out in many of the service industry and relatively lower skill businesses. Some of the higher skilled industries too will find a place in Iskandar to complement their operations in the island. A new level of cost versus benefits will be established, with the cost of living coming down in Singapore, and winding down also of many economic activities that will go the Iskandar way.
Iskandar, from a new and lower base, will absorb and inherit many of the businesses from the island as long as it plays its card right. And Johore will be the main beneficiary of a vibrant economy arising from a bigger base, bigger land and catchment area, a bigger workforce and more investments and economic activities.
The caveat, is the Johore govt and population ready to make this leap forward. If they are, there is nothing to stop Iskandar from becoming a fully developed and integrated commercial centre of a larger Singapore, an extension of Singapore as a regional economic hub. It will rise to replace the failed golden triangle of Batam, Singapore and JB. Singapore and Iskandar will be good enough to grow into a bigger economic zone which could eclipse Batam and Bintang temporarily but not eventually.
This is the potential that Iskandar holds for the future. But there must be a political will to want to do that, to accept that economic growth and a highly intensive growth programme could also demand a price from the state. The cushy and laid back life style would be compromised, the pace of life fasten, and cost of living will rise.
Singapore has on its own way driven itself out of competition except for some key areas where it can still hold a big advantage over Iskandar, the financial centre, the expensive and presumably good consumer markets, education, perhaps medical sciences, and high tech industries. But for these Iskandar can live with as there are many areas that Iskandar can take over and grow with a big advantage in cost of labour and land.
Singapore would have to give up many of its industries that are no longer competitive. It would only be able to hold on to some core interests. The rest of the economy, the bulk of its economic activities, will have to flow into Iskandar.
And it is not all bad really. Both will benefit from the expansion of the economic zone from Singapore into southern Johore. Of course Singapore would have to give up and lose out in many of the service industry and relatively lower skill businesses. Some of the higher skilled industries too will find a place in Iskandar to complement their operations in the island. A new level of cost versus benefits will be established, with the cost of living coming down in Singapore, and winding down also of many economic activities that will go the Iskandar way.
Iskandar, from a new and lower base, will absorb and inherit many of the businesses from the island as long as it plays its card right. And Johore will be the main beneficiary of a vibrant economy arising from a bigger base, bigger land and catchment area, a bigger workforce and more investments and economic activities.
The caveat, is the Johore govt and population ready to make this leap forward. If they are, there is nothing to stop Iskandar from becoming a fully developed and integrated commercial centre of a larger Singapore, an extension of Singapore as a regional economic hub. It will rise to replace the failed golden triangle of Batam, Singapore and JB. Singapore and Iskandar will be good enough to grow into a bigger economic zone which could eclipse Batam and Bintang temporarily but not eventually.
12/02/2011
Conditions for a failed stock market
Technology and financial whiz kids have made stock trading not what it was before. High speed computers and how they are being applied to the stock trading system are a recent development that is more a curse rather than light at the end of the tunnel. Then there is high speed communication and the ability to move huge funds across borders to effect trading makes stock trading very precarious.
The war chests of big funds today are so huge that many could dominate the trading activities of small stock markets. And when operating in concert, several funds could execute transactions many times the size of the normal daily trading volumes of a small market. The implication is that they could corner not only several stocks but virtually take control of all the trading activities in a market. They could churn stocks up and down to their advantage.
Such a situation is made worst by small stock markets with fewer stocks and smaller capitalisation, and lesser number of investors. The small traders become easy preys to the big funds. And with the permission and connivance of stock market regulators, the funds could muscle their way into the system with their computers plugged in and extracting whatever information on buy and sell in their favour.
The rationale that the same thing is being done in New York is invalid. In a big market, with many similar big funds, there is a possibility of them cancelling each other’s action. In a small market, it is like a big fish in a small pond, it can cause big waves and rule the pond.
To make matters worst, some small exchanges are in a hurry to grow, to show results, and are tempted by the big funds’ presence. The big funds took advantage of the greed and impatience of small exchanges by dangling the carrot of bringing in their war chests to increase trading volumes to a small market. In return they dictated to the small exchanges how the trading system should operate, reducing bid sizes, reducing trading fees, and applying a lighter touch through deregulations, and of course allow their computers to plug into the system. The big funds thus were able to manipulate the trading systems and rules and regulations for easy profits.
Rules could be bent to accommodate the needs of the big funds, for instance, while short selling is not allowed in many exchanges, the big funds could circumvent this through scrip borrowings. The exchanges could be easily convinced, and being a willing partner that is dependent on the patronage of big funds, they would create a scrip lending systems for the big funds to cover their short positions. The convenient excuse is that it is another business for long term investors to enjoy some income, and for the exchange too.
The truth is that these innocent and ignorant long term investors would earn a pittance in scrip lending but end up facilitating the big funds to drive down the value of their long term investments.
Under normal circumstances, most exchange regulators would not condone to such violations to the integrity of the trading system. But exchanges are hungry for income and business. The higher the trading volume the more clearing fees they will collect to boost their bottom line. And they could justify to their stakeholders with the good returns, and keep a close eye while the big funds clean up the small investors in the market. And they can claim that it is caveat emptor, that the investors came in with their eyes open. No one is forcing the investors to trade.
A more convenient situation will be an exchange that is self regulating. It can then do anything it wants, provides whatever flimsy excuses, to run a flawed system, a system that allows the big funds to take advantage of the small traders. The outcome is quite clear when only the big funds are making profits and the general investors are all losing their pants. This can only happen when the authority ignores the risk of conflict of interests, when an exchange is profit seeking and allowed to regulate itself.
The govt or authority is the ultimate arbiter of the conduct of an exchange. It is the authority of last resort to ensure that stock exchanges are properly run and not run solely for its own benefits at the expense of other stake holders. But the ultimate authority can also fall asleep, thinking that if they have the best men in charge, an exchange will be properly and fairly managed.
There are many other reasons for a govt to give an exchange a free hand to do as it likes. It can be a matter of convenience, or a matter of incompetence, that they are dumber than the exchange management and are afraid to question what the exchange is doing.
There could also be a higher objective, to want to build up a big exchange at all cost, at the quickest time. Such wild ambition, and without full knowledge of how the exchange is being run, how destructive the big funds and their high speed computers can be to an exchange, things can go very wrong. As long as the exchange management can claim that what they are doing is to achieve the objective of a big and vibrant stock market, they could be easily left off the hook.
Another condition is that there is no whistle blower. No one wants to assume the leadership to point out the flaws in the system. Everyone is watching, knowing that things are going wrong, but not willing to rock the boat. All the institutions that claimed to look after the interests of the investors just looked the other way. Maybe they could not see anything wrong. Maybe they are waiting for things to happen to play safe. Doing nothing is the safest thing to do. And the govt or authority continues in their ignorant bliss. No complains, so everything is fine.
In reality, exchanges are normally managed wisely by competent managers. There could be some misses now and then, and some of the above conditions may exist at one time or another. But it is unlikely that all the conditions will exist at the same time. When there is a confluence of all these conditions existing, the failure of the stock exchange is imminent.
All govts and regulators must be alert and watch how their exchanges are being operated, and to look out for such warning signs and to take preventive actions early. Failing to do so is being negligent and irresponsible.
The war chests of big funds today are so huge that many could dominate the trading activities of small stock markets. And when operating in concert, several funds could execute transactions many times the size of the normal daily trading volumes of a small market. The implication is that they could corner not only several stocks but virtually take control of all the trading activities in a market. They could churn stocks up and down to their advantage.
Such a situation is made worst by small stock markets with fewer stocks and smaller capitalisation, and lesser number of investors. The small traders become easy preys to the big funds. And with the permission and connivance of stock market regulators, the funds could muscle their way into the system with their computers plugged in and extracting whatever information on buy and sell in their favour.
The rationale that the same thing is being done in New York is invalid. In a big market, with many similar big funds, there is a possibility of them cancelling each other’s action. In a small market, it is like a big fish in a small pond, it can cause big waves and rule the pond.
To make matters worst, some small exchanges are in a hurry to grow, to show results, and are tempted by the big funds’ presence. The big funds took advantage of the greed and impatience of small exchanges by dangling the carrot of bringing in their war chests to increase trading volumes to a small market. In return they dictated to the small exchanges how the trading system should operate, reducing bid sizes, reducing trading fees, and applying a lighter touch through deregulations, and of course allow their computers to plug into the system. The big funds thus were able to manipulate the trading systems and rules and regulations for easy profits.
Rules could be bent to accommodate the needs of the big funds, for instance, while short selling is not allowed in many exchanges, the big funds could circumvent this through scrip borrowings. The exchanges could be easily convinced, and being a willing partner that is dependent on the patronage of big funds, they would create a scrip lending systems for the big funds to cover their short positions. The convenient excuse is that it is another business for long term investors to enjoy some income, and for the exchange too.
The truth is that these innocent and ignorant long term investors would earn a pittance in scrip lending but end up facilitating the big funds to drive down the value of their long term investments.
Under normal circumstances, most exchange regulators would not condone to such violations to the integrity of the trading system. But exchanges are hungry for income and business. The higher the trading volume the more clearing fees they will collect to boost their bottom line. And they could justify to their stakeholders with the good returns, and keep a close eye while the big funds clean up the small investors in the market. And they can claim that it is caveat emptor, that the investors came in with their eyes open. No one is forcing the investors to trade.
A more convenient situation will be an exchange that is self regulating. It can then do anything it wants, provides whatever flimsy excuses, to run a flawed system, a system that allows the big funds to take advantage of the small traders. The outcome is quite clear when only the big funds are making profits and the general investors are all losing their pants. This can only happen when the authority ignores the risk of conflict of interests, when an exchange is profit seeking and allowed to regulate itself.
The govt or authority is the ultimate arbiter of the conduct of an exchange. It is the authority of last resort to ensure that stock exchanges are properly run and not run solely for its own benefits at the expense of other stake holders. But the ultimate authority can also fall asleep, thinking that if they have the best men in charge, an exchange will be properly and fairly managed.
There are many other reasons for a govt to give an exchange a free hand to do as it likes. It can be a matter of convenience, or a matter of incompetence, that they are dumber than the exchange management and are afraid to question what the exchange is doing.
There could also be a higher objective, to want to build up a big exchange at all cost, at the quickest time. Such wild ambition, and without full knowledge of how the exchange is being run, how destructive the big funds and their high speed computers can be to an exchange, things can go very wrong. As long as the exchange management can claim that what they are doing is to achieve the objective of a big and vibrant stock market, they could be easily left off the hook.
Another condition is that there is no whistle blower. No one wants to assume the leadership to point out the flaws in the system. Everyone is watching, knowing that things are going wrong, but not willing to rock the boat. All the institutions that claimed to look after the interests of the investors just looked the other way. Maybe they could not see anything wrong. Maybe they are waiting for things to happen to play safe. Doing nothing is the safest thing to do. And the govt or authority continues in their ignorant bliss. No complains, so everything is fine.
In reality, exchanges are normally managed wisely by competent managers. There could be some misses now and then, and some of the above conditions may exist at one time or another. But it is unlikely that all the conditions will exist at the same time. When there is a confluence of all these conditions existing, the failure of the stock exchange is imminent.
All govts and regulators must be alert and watch how their exchanges are being operated, and to look out for such warning signs and to take preventive actions early. Failing to do so is being negligent and irresponsible.
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