The international finance industry is rotting to the core. The revelation by the Goldman Sach executive provided a small glimpse to the crimes being committed in the industry. The fund managers are no longer making money from the market for their clients. They could not. The whole financial industry, including the stock markets, has been redesigned to sell worthless papers and financial products at the expense of genuine stocks. Companies listing their shares in the markets too are getting wiser and no longer value the net worth of their shares. Everyone is trading for quick profit with no regards to fundamentals.
When fund managers find it impossible to make money from trading stocks, they ended up violating one of the major regulations of trading, churning client’s money and making money from the clients instead. Everyone, fund managers and stock exchanges, are trying to keep one step ahead of the competition by running faster while the bridge behind is falling off. And they think they are safe while those who move slower fall off and were swallowed by the bottomless pit below.
The only hope by the funds or exchange administrators is to be the last man standing. But then they forgot that the bridge is still collapsing and the last man will still have to fall in too. The fundamentals of stock tradings when there is real value in stocks and shares of companies have been forgotten. Today the trading is done on fictitious paper creations instead and destroying the values of stocks. Billions and trillions of dollars are piled up on worthless papers instead of real stocks just like the days of Lehman Brothers and toxic notes. Values are being created by shifting and printing of these papers. This paper game will have to come to an end sooner or later.
All the top talents are so deep in the pool of shit that they no longer see further than the tips of their noses. And they keep trying to be clever by trying to be creative and innovative, to stay ahead of a falling bridge.
The collapse of the American and European economies and finances was not due to their inability to produce but through their cleverness in over producing, by printing money for themselves, with no real value added. Asset enhancement, asset swaps, paper swaps, borrowing and endless credits, and buying worthless pieces of papers, etc etc, become an unproductive computer game.
The real producers of values are in manufacturing and farming and their true values have been ignored and even sneered at for the pittance they got for their labour. The smart asses need not produce anything but rewarding themselves with millions and billions by financial engineering. And they think the game will go on and on.
The real stuff, the real producers of goods and services, will survive and outlive the fictitious producers of paper wealth that will come to nothing. It sounds so clever for an asset to be traded hundreds of times it original value. It sounded so clever to buy some papers and sell them at hundreds of times their original values. Where is the real value added? If there is none there is none and the gain is pure fiction.
Try to think what Tharman said, ‘We cannot just be a society of insurance agents, real estate agents and bankers and office workers.’ The best of the American talents are in Wall Street writing paper moneys to make millions and billions without being productive. And we want to go down the same road with everyone paying themselves in millions without producing even a grain of rice.
4/05/2012
Asean disarming the Number One Gangster
Asean has proven that dialogue and diplomacy are the way forward. Interference in other country’s internal affair through threats, sanctions, and regime change are not acceptable and will do more harm than good. Myanmar is a feather in the cap for Asean and the Way of Asean.
What has the Number One International Gangster achieved in Iraq, Libya, Afghanistan and those countries that it invaded? Nothing except bloodshed and destruction. And it is still gearing up to invade more countries with Iran and North Korea on the list, and with new troops being deployed in the Asia Pacific region.
What Asean has done in Myanmar is the best proof to the world that the way of the Gangster is not the way and unacceptable. Now, would the Gangster and all the small gangsters stop bullying the weaker countries and lift their sanctions on Myanmar?
What is surprising is for Asean to make a statement against the North Korean’s launch of its satellite. What has that got to do with Asean? Is not Asean trying to interfere in another country’s domestic affair, particularly a country that is so remote from Asean in all counts? Or is Asean’s arm been twisted that it has so say something or else? It is a pity that Asean has to cower under a foreign big power’s pressure to mess around with another country’s peaceful pursuit to send a satellite into space.
What has the Number One International Gangster achieved in Iraq, Libya, Afghanistan and those countries that it invaded? Nothing except bloodshed and destruction. And it is still gearing up to invade more countries with Iran and North Korea on the list, and with new troops being deployed in the Asia Pacific region.
What Asean has done in Myanmar is the best proof to the world that the way of the Gangster is not the way and unacceptable. Now, would the Gangster and all the small gangsters stop bullying the weaker countries and lift their sanctions on Myanmar?
What is surprising is for Asean to make a statement against the North Korean’s launch of its satellite. What has that got to do with Asean? Is not Asean trying to interfere in another country’s domestic affair, particularly a country that is so remote from Asean in all counts? Or is Asean’s arm been twisted that it has so say something or else? It is a pity that Asean has to cower under a foreign big power’s pressure to mess around with another country’s peaceful pursuit to send a satellite into space.
Accountability and conceitedness
I have written about how 44 men could change your lives or destroy them in an earlier post. In ancient history, countries or states were owned by kings and emperors who conveniently spread the myth that they were the sons of heavens and given the mandate to rule. Then, one man or one family ruled the country. We are slightly better off in having 44 men or women to rule us.
What the 44 men or women forgot is that their mandate is now from the people and for a term of 5 years, and subject to the people’s approval. What happened here is an unnatural development where the govt think that they really have the mandate of heaven for life. This allows them to think that they can do anything they want without having to consult the people. They know best and have the authority to rule the people.
The other myth is the myth of govt. Even the 44 men or women are a myth. The major decisions were not done by the govt or the 44 men or women. They are made by a few men or may be less. And these few individuals were conceited enough, with the arrogance of knowing it all, or with the mandate of heaven, to do as they please.
And they would tell the people in the face, we are in charge and we will be accountable and responsible for the decisions made. The question is who do they think they are? How accountable can they be and how responsible can they be? What accountability or responsibility if a bad decision is going to impact on several millions of lives and for generations to come. And some decisions may even lead to the downfall of a county? Can a few individuals shoulder such responsibility and accountability? What could they do? Make a public apology or cry over the TV?
Decisions like bringing in millions of foreigners and giving away citizenships freely should not be made by a few individuals or even a ruling govt. It must seek the consent of the people, the millions of people that share this country. Decisions to keep the people’s money in the CPF for whatever reasons cannot be made by a few individuals. It is not their money. Such decisions must have the consent of the owners of the money. Then the selling of properties to foreigners and driving up property prices to become more affordable?
There are many decisions that have very serious consequences on many people and should not be made by just a few individuals. The people own this country and must have a say, not a once in 5 years say, not signing a once in 5 year blank cheque.
Tharman has put in succinctly by saying that the govt is too much in the people’s face. ‘We took our incumbency too much for granted in the past and we were also too much in your face. The solution would be for the PAP to engage with the people “a lot more”, take nothing for granted and win Singaporeans over by giving them more say, he said.’
Hsien Loong has also spoke in the same vein yesterday. Is this going to be real, a real change? Or would it be another aspiration, another wayang? Would the govt seriously consult the people on major decisions that would affect country and people? The people will no longer keep quiet when their lives are seriously affected. The people want a big say in major policies affecting them, not the say or decision of a few arrogant men or women who think too highly of themselves.
What the 44 men or women forgot is that their mandate is now from the people and for a term of 5 years, and subject to the people’s approval. What happened here is an unnatural development where the govt think that they really have the mandate of heaven for life. This allows them to think that they can do anything they want without having to consult the people. They know best and have the authority to rule the people.
The other myth is the myth of govt. Even the 44 men or women are a myth. The major decisions were not done by the govt or the 44 men or women. They are made by a few men or may be less. And these few individuals were conceited enough, with the arrogance of knowing it all, or with the mandate of heaven, to do as they please.
And they would tell the people in the face, we are in charge and we will be accountable and responsible for the decisions made. The question is who do they think they are? How accountable can they be and how responsible can they be? What accountability or responsibility if a bad decision is going to impact on several millions of lives and for generations to come. And some decisions may even lead to the downfall of a county? Can a few individuals shoulder such responsibility and accountability? What could they do? Make a public apology or cry over the TV?
Decisions like bringing in millions of foreigners and giving away citizenships freely should not be made by a few individuals or even a ruling govt. It must seek the consent of the people, the millions of people that share this country. Decisions to keep the people’s money in the CPF for whatever reasons cannot be made by a few individuals. It is not their money. Such decisions must have the consent of the owners of the money. Then the selling of properties to foreigners and driving up property prices to become more affordable?
There are many decisions that have very serious consequences on many people and should not be made by just a few individuals. The people own this country and must have a say, not a once in 5 years say, not signing a once in 5 year blank cheque.
Tharman has put in succinctly by saying that the govt is too much in the people’s face. ‘We took our incumbency too much for granted in the past and we were also too much in your face. The solution would be for the PAP to engage with the people “a lot more”, take nothing for granted and win Singaporeans over by giving them more say, he said.’
Hsien Loong has also spoke in the same vein yesterday. Is this going to be real, a real change? Or would it be another aspiration, another wayang? Would the govt seriously consult the people on major decisions that would affect country and people? The people will no longer keep quiet when their lives are seriously affected. The people want a big say in major policies affecting them, not the say or decision of a few arrogant men or women who think too highly of themselves.
4/04/2012
TRE under attack
Looks like Temasek Review Emeritus is under attack again. Unable to read any article posted there.
What the rich do with their wealth?
We are the third richest country in the world according to Forbes on a per capita income basis. This means real money on the head of every Singaporean. And it could be more if we have not imported and bloated up our population with foreigners. But never mind, we are still very rich and should make full use of our money to create a utopian Singapore. How and what is a Utopian Singapore?
My idea of a Utopian Singapore is one that Singaporeans do not need to work any more, or at least no need to work till they die. The third richest country in the world working its citizens to death! Can you believe it? Singaporeans only need to enjoy life, go to school to study anything they want. Go to learn arts and sports and study the sciences for fun. Why not, with the kind of money we have?
We have plenty of money and we can use the money to hire really talented people to create and make more money for us. We can pay for the lower skill people to do manual jobs and the higher skill people to make money. We pay them to do everything for us, but most important thing is to make us richer. Why aren’t we doing this? Aren’t we spending millions and millions to the most talented to make money for us? Or are we spending millions and millions on the most talented to make us work for them? If this is the case, then something is very wrong somewhere. The formula is wrong. The outcome is wrong. There is no need for Singaporeans, the third richest people in the world, to work and to work to death.
What is all the wealth for when we cannot enjoy them, and worst, to scrimp and pinch and to work and work. It is just not right. Our super talents must think smart and do the right things, and think of better ways to make Singaporeans live a richer life with all the wealth we got in our country.
Look, this is nothing new and nothing difficult. Many of the rich here and everywhere are doing just that, living off their wealth, managing their wealth, without the need to work. We can transform our wealth at the national level and make all Singaporeans as wealthy owners of our national wealth, and live a life of plenty, and no need to work. Any Singaporean who wants to work is to work for his own enjoyment, personal satisfaction, like the rich and super rich. That is the goal.
The present situation is not that of a rich country but a country with so much wealth and benefiting a small elite and so called super talented foreigners. There are still too many people not living well and many are just making ends meet. Is our wealth fictitious or not properly directed to benefit the people? Giving the extremely poor a few hundred bucks monthly is not sharing of the country’s wealth.
Think of a new formula, a nation of wealthy Singaporeans, no work, all play. And making the talented people work for us. For paying them so well, they better give us good returns for what they are worth. We pay them to work for us. Why are we paying so much and not getting the return to make everyone live better and still got to work to death?
The third richest country must be a happy country with the people really feeling rich, not poor. We must be able to fund our people in education, the unfortunate and the aged. The only thing that we are funding is the hoards of foreign students. And we are running charity shows after charity shows to raise funds for the less fortunate. How can that be?
The rich in our midst don’t live a life begging for charity. Neither do they need to work to death. Maybe it is all a dream and so is my utopia. Some thing is just not right.
My idea of a Utopian Singapore is one that Singaporeans do not need to work any more, or at least no need to work till they die. The third richest country in the world working its citizens to death! Can you believe it? Singaporeans only need to enjoy life, go to school to study anything they want. Go to learn arts and sports and study the sciences for fun. Why not, with the kind of money we have?
We have plenty of money and we can use the money to hire really talented people to create and make more money for us. We can pay for the lower skill people to do manual jobs and the higher skill people to make money. We pay them to do everything for us, but most important thing is to make us richer. Why aren’t we doing this? Aren’t we spending millions and millions to the most talented to make money for us? Or are we spending millions and millions on the most talented to make us work for them? If this is the case, then something is very wrong somewhere. The formula is wrong. The outcome is wrong. There is no need for Singaporeans, the third richest people in the world, to work and to work to death.
What is all the wealth for when we cannot enjoy them, and worst, to scrimp and pinch and to work and work. It is just not right. Our super talents must think smart and do the right things, and think of better ways to make Singaporeans live a richer life with all the wealth we got in our country.
Look, this is nothing new and nothing difficult. Many of the rich here and everywhere are doing just that, living off their wealth, managing their wealth, without the need to work. We can transform our wealth at the national level and make all Singaporeans as wealthy owners of our national wealth, and live a life of plenty, and no need to work. Any Singaporean who wants to work is to work for his own enjoyment, personal satisfaction, like the rich and super rich. That is the goal.
The present situation is not that of a rich country but a country with so much wealth and benefiting a small elite and so called super talented foreigners. There are still too many people not living well and many are just making ends meet. Is our wealth fictitious or not properly directed to benefit the people? Giving the extremely poor a few hundred bucks monthly is not sharing of the country’s wealth.
Think of a new formula, a nation of wealthy Singaporeans, no work, all play. And making the talented people work for us. For paying them so well, they better give us good returns for what they are worth. We pay them to work for us. Why are we paying so much and not getting the return to make everyone live better and still got to work to death?
The third richest country must be a happy country with the people really feeling rich, not poor. We must be able to fund our people in education, the unfortunate and the aged. The only thing that we are funding is the hoards of foreign students. And we are running charity shows after charity shows to raise funds for the less fortunate. How can that be?
The rich in our midst don’t live a life begging for charity. Neither do they need to work to death. Maybe it is all a dream and so is my utopia. Some thing is just not right.
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