The big change, by SGX, is that client’s shares will be kept or be accessible by broking houses. Whether this is going to make the market better for the clients and the industry is a moot point. It could be all for nothing. What I don’t feel comfortable is the reason given in support of this change, because developed markets worldwide are doing it.
The important point to note is that the developed markets worldwide are sick. And we have adopted many of the practices of developed market and the big question is, is the market getting better or getting sicker?
When there is change, change must be for a good reason, for improvement. Change must not be introduced for the sake of change or because other people are doing it, and worst because developed markets are doing it. The developed markets created the toxic notes and sold many snake oils to the less developed markets too. What the developed markets are doing is not necessarily good for less developed markets, and may even be bad.
Is our market getting better or going to get better? I may be insane, but I am seeing many systemic flaws in the market. Maybe I am dull and cannot see the good and brilliant things that are happening in the system.
12/15/2011
Surrendering one’s right – part 3
Singaporeans must not easily surrender their rights away, or they will always be the servant to be owned by the masters. Another right that Singaporeans must not surrender and think that there is no other way out is their money in CPF.
The masters have been designing all kinds of clever schemes to retain the Singaporeans hard earned money in the CPF. Many Singaporeans have resigned to this fate that their money is now untouchable, only to feel good and smile at the monthly statements to tell them how rich they are on paper.
This is their money(minimum sum and Medisave) and must be returned. No one has the right to keep passing legislations to compulsorily take the money from its rightful owner. Get the opposition parties to fight for the return of this money. Keep hammering for it. This is your money, this is your money, and it is right that you have your money back.
Are you the master or the servant? Why should people decide to keep your money away from you and the people accept it as normal? And as long as the people LL and not say anything, the amount to be taken away will get bigger and bigger. This must be stopped.
The masters have been designing all kinds of clever schemes to retain the Singaporeans hard earned money in the CPF. Many Singaporeans have resigned to this fate that their money is now untouchable, only to feel good and smile at the monthly statements to tell them how rich they are on paper.
This is their money(minimum sum and Medisave) and must be returned. No one has the right to keep passing legislations to compulsorily take the money from its rightful owner. Get the opposition parties to fight for the return of this money. Keep hammering for it. This is your money, this is your money, and it is right that you have your money back.
Are you the master or the servant? Why should people decide to keep your money away from you and the people accept it as normal? And as long as the people LL and not say anything, the amount to be taken away will get bigger and bigger. This must be stopped.
A little reflection on RAR
When something that is reasonable becomes ridiculous, or when something that is reasonable becomes so reckless. I chanced upon an old CNA report interviewing Chok Tong on the unhappiness over foreigners buying properties and driving up the prices. The quote is below.
‘Another radical suggestion put forward was to bar foreigners from buying private property but SM Goh noted developers would just build more high-rise private apartments to counter it.
"At the moment, our policy will be, condominium, private sector. They want to buy, let them buy because they actually bring in money for Singapore. They may not actually stay there but they bring in money.
"They buy from locals, locals are happy to get the money but it's not actually adding to space. In fact, that's actually ideal. They buy here, they don't drive cars, they don't live here, we just get their money! They're buying air!" laughed SM Goh.’
Actually Chok Tong got a point. If the foreigners are willing to bring in good money to buy air, why not? Our developers will be very happy and Singaporeans too will be very happy if they can sell their HDB flats to them as well. Now what is the cause of this happy problem?
The cause is so stupid and the solution so simple. Just build more and make sure citizens can buy their flats and at a really affordable price. And if citizens can then sell to foreigners, and buy again from HDB, citizens happy, foreigners happy, govt also happy. Every transaction will bring extra revenue to the govt in terms of stamp duties. The lawyers will be happy with the conveyancing fee, the designers and renovator will also be happy with more works. The buying and selling will find its own equilibrium when demand and supply balances out. Then buying and selling will slow down under the same economic and market forces.
See, it only needs a joker to stop building and want to earn as much from the citizens as possible and the happy formula failed. Make from foreigners not enough, still want to squeeze every penny from the citizens and refuse to build to exaggerate the supply and demand tension to justify higher prices to charge the citizens.
Why don’t the govt just liberalise the sale of all properties to foreigners(with higher stamp duties and some conditions, esp landed) and they only need to ensure that all citizens will get their public flats at citizen prices. A new status quo will be reached when the supply is there for the citizens(with limits on how many they can buy) and the demand by foreigners will also be limited by this supply. But make sure don’t anyhow give citizenship to every foreigner to buy public flats from HDB at citizen price. Let them be PRs and pay PR price and non citizen price.
The whole shit boils down to citizens not being able to buy affordably priced flats. If this is catered for, who cares if non citizens want to buy what and how high private property prices can go? Give the people a roof and the kpkb will end. But some sectors would want to protect the prices of their private properties and this could be why lesser public flats were being built. If only they care and make sure public flats are easily available to citizens, they could have the cake and eat it too, as long as the inflow of foreigners did not go crazy.
‘Another radical suggestion put forward was to bar foreigners from buying private property but SM Goh noted developers would just build more high-rise private apartments to counter it.
"At the moment, our policy will be, condominium, private sector. They want to buy, let them buy because they actually bring in money for Singapore. They may not actually stay there but they bring in money.
"They buy from locals, locals are happy to get the money but it's not actually adding to space. In fact, that's actually ideal. They buy here, they don't drive cars, they don't live here, we just get their money! They're buying air!" laughed SM Goh.’
Actually Chok Tong got a point. If the foreigners are willing to bring in good money to buy air, why not? Our developers will be very happy and Singaporeans too will be very happy if they can sell their HDB flats to them as well. Now what is the cause of this happy problem?
The cause is so stupid and the solution so simple. Just build more and make sure citizens can buy their flats and at a really affordable price. And if citizens can then sell to foreigners, and buy again from HDB, citizens happy, foreigners happy, govt also happy. Every transaction will bring extra revenue to the govt in terms of stamp duties. The lawyers will be happy with the conveyancing fee, the designers and renovator will also be happy with more works. The buying and selling will find its own equilibrium when demand and supply balances out. Then buying and selling will slow down under the same economic and market forces.
See, it only needs a joker to stop building and want to earn as much from the citizens as possible and the happy formula failed. Make from foreigners not enough, still want to squeeze every penny from the citizens and refuse to build to exaggerate the supply and demand tension to justify higher prices to charge the citizens.
Why don’t the govt just liberalise the sale of all properties to foreigners(with higher stamp duties and some conditions, esp landed) and they only need to ensure that all citizens will get their public flats at citizen prices. A new status quo will be reached when the supply is there for the citizens(with limits on how many they can buy) and the demand by foreigners will also be limited by this supply. But make sure don’t anyhow give citizenship to every foreigner to buy public flats from HDB at citizen price. Let them be PRs and pay PR price and non citizen price.
The whole shit boils down to citizens not being able to buy affordably priced flats. If this is catered for, who cares if non citizens want to buy what and how high private property prices can go? Give the people a roof and the kpkb will end. But some sectors would want to protect the prices of their private properties and this could be why lesser public flats were being built. If only they care and make sure public flats are easily available to citizens, they could have the cake and eat it too, as long as the inflow of foreigners did not go crazy.
12/14/2011
Another sign of the declining US influence
For more than 50 years, the Americans supported the Israelis in keeping the PLO out of the United Nation. The stupid Arab world meekly accepted that the Americans were their overlord and could not do anything about it. So, while Israel was assisted by the Americans and the western world to become a full nation, the plight of the Palestinians was nothing better than homeless beggars. Their fate laid in the hands of the deceitful champion of human rights, the Americans. And the Americans made sure that the PLO would stay that way forever other than some lip service to defend their rights of existence without a country.
Yesterday the PLO’s flag finally was raised at the UNESCO, a significant moment to recognize them as a nation of people by the UN. Of course the Americans and the Israelis were furious. It is understandable why the Israelis behaved that way. Now the Evil Empire revealed its true colour and removed all its disguises about supporting the cause of the Palestinians. They were angry that the PLO is now recognized as a state by the UN. They were angry that despite their string pulling and coercion against their crony states, the latter voted against the American’s dictate to keep the PLO out of the UN.
The countries of the rest of the world are standing up against the hypocrisies of the Americans. They are not going to be pushed around anymore by the Americans. They are going to support what is right, and in this case the PLO, to give it recognition as a member nation.
It is victory to the free world against the evil Empire. The Empire will find that it is no longer the trusted power. The deceit and deception have gone on for too long. Wither Pax Americana?
Yesterday the PLO’s flag finally was raised at the UNESCO, a significant moment to recognize them as a nation of people by the UN. Of course the Americans and the Israelis were furious. It is understandable why the Israelis behaved that way. Now the Evil Empire revealed its true colour and removed all its disguises about supporting the cause of the Palestinians. They were angry that the PLO is now recognized as a state by the UN. They were angry that despite their string pulling and coercion against their crony states, the latter voted against the American’s dictate to keep the PLO out of the UN.
The countries of the rest of the world are standing up against the hypocrisies of the Americans. They are not going to be pushed around anymore by the Americans. They are going to support what is right, and in this case the PLO, to give it recognition as a member nation.
It is victory to the free world against the evil Empire. The Empire will find that it is no longer the trusted power. The deceit and deception have gone on for too long. Wither Pax Americana?
Article from Musings from the Lion City
'Wednesday, December 14, 2011Stranger Than Fiction
So America flew a spy drone over Iran. So Iran bought the spy drone down. Now America…asked the Iranians to return the spy drone that was used to spy on them?
I thought this was a joke when I first read it but evidentially it’s true. President Obama himself said that the United States had asked Iran to give the downed American reconnaissance plane back.
Fact is truly stranger than fiction. The Iranians has rejected the request with its state media poking fun at the American’s expense. I agree with them.
What is God’s name made the American believed for a second the Iranians (and the rest of the world) won’t laugh their guts out upon hearing the request? Hell, I am.'
I actually wanted to write something but Musings from the Lion City has beat me to it. The American arrogance is funnily silly. But to the Americans and the west, it is not. They have the right to send spy planes inside people's country and the right to demand that it be returned if taken down. If not, this will be a justifiable excuse to attack Iran, not just imposed sanctions.
So is this anti American? : )
So America flew a spy drone over Iran. So Iran bought the spy drone down. Now America…asked the Iranians to return the spy drone that was used to spy on them?
I thought this was a joke when I first read it but evidentially it’s true. President Obama himself said that the United States had asked Iran to give the downed American reconnaissance plane back.
Fact is truly stranger than fiction. The Iranians has rejected the request with its state media poking fun at the American’s expense. I agree with them.
What is God’s name made the American believed for a second the Iranians (and the rest of the world) won’t laugh their guts out upon hearing the request? Hell, I am.'
I actually wanted to write something but Musings from the Lion City has beat me to it. The American arrogance is funnily silly. But to the Americans and the west, it is not. They have the right to send spy planes inside people's country and the right to demand that it be returned if taken down. If not, this will be a justifiable excuse to attack Iran, not just imposed sanctions.
So is this anti American? : )
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