The main bug bear to Lim Chong Yah’s shock therapy is productivity. It is logical that before one raises the wage of workers, one has to take into account many factors, competition, costs and of course productivity. How can anyone think of getting big pay hike without complimentary productivity? The raising of worker’s income is a very serious matter and much deeper understanding and thoughts need to be put into it unlike bloggers like Redbean who would post anything that appears in his mind and in 5 minutes it is in mysingaporenews. No depth, no analysis.
I think the good professor must have spent many hours seriously contemplating on the problem and the solutions. It is not a wild shot. It is definitely a serious proposition that is supported by economic and academic considerations. An economics professor of his stature does not spout nonsense like bloggers, and his proposition should at least be placed on the tables for serious discussions. Bloggers can freely criticize anything without thinking. But to criticize the works of an economics professor who has done deep thinking before coming out with his recommendations, due diligence is needed from anyone who would want to dispense his criticism to do justice to the professor. Be respectful. Put in some effort to understand what the professor was saying before shooting off the hip.
Productivity may be an important factor in raising wages. But in the real world, wages or salaries can be raised by using other factors and considerations other than productivity. One standard methodology is to do a market survey and compare job values. And jobs of similar values should be paid similar pay. So when one is paid more, the other also must be paid more. This method is silent on productivity. It just says since you got so much, I also want to be paid so much.
Another way is to peg one’s salary to other people’s salary. Just assume one’s job is more important than others. So if other people earn more, one’s income will also go up accordingly. No need to talk about productivity. Just wait for the more talented and enterprising to work harder, to earn more, then one just tag on the bandwagon. When other people earn more, one must also earn more. What’s the correlation? Beats me. Where is the element of productivity? Who cares?
Oh, productivity is meant only for workers. Workers and farmers really produce goods of value and thus their productivity is important. When one’s job does not produce anything of value except talking cock, there is no need for productivity? Productivity is irrelevant to raise pay in such cases.
4/16/2012
The big guns are trained at Lim Chong Yah
The big guns have been rolled out and lined up with their cross hairs on Lim Chong Yah. This is the first time that a biggie from the establishment is standing in front of the firing squad. Ngiam Tong Dow did his fair share of criticism and seemed to get away with it. In Lim Chong Yah’s case, looks like he is going to be burnt on the stake.
Given his credential as a renowned economics professor, his past appointments and contributions as Chairman of the NWC, and his connections, it is intriguing to see where the attacks are coming from. Would it turn into a free for all whereby anyone from the winning camp will start to take potshots at the professor? And if that happens, what is the story behind it?
Has the good professor fallen out of grace, going to fall out of grace, or is his shock therapy shocking people out of their comfort zones? This is an interesting development to watch. It will reveal a lot of unspoken truths as the plots thicken. It could also be another watershed, with more thinkers changing side and more stepping forward to call a spade a spade. And the final moment will come when the people realize that the mandate of heaven has been withdrawn and a regime change is on the way. By then the cards will all be opened and a new alignment of forces will take place as has been the case in history.
Given his credential as a renowned economics professor, his past appointments and contributions as Chairman of the NWC, and his connections, it is intriguing to see where the attacks are coming from. Would it turn into a free for all whereby anyone from the winning camp will start to take potshots at the professor? And if that happens, what is the story behind it?
Has the good professor fallen out of grace, going to fall out of grace, or is his shock therapy shocking people out of their comfort zones? This is an interesting development to watch. It will reveal a lot of unspoken truths as the plots thicken. It could also be another watershed, with more thinkers changing side and more stepping forward to call a spade a spade. And the final moment will come when the people realize that the mandate of heaven has been withdrawn and a regime change is on the way. By then the cards will all be opened and a new alignment of forces will take place as has been the case in history.
Two major dangers facing China
The West is greeting the widening of the trading band of the yuan with glee. They want more, they want the yuan to be traded freely like the greenbacks and other currencies. They also want the Chinese to open up their stock markets and allow the western funds to move in and convert the trading system to those of the West, particularly the Wall Street model. The bottom line, they want the Chinese stock markets to trade derivatives, fakes and worthless papers instead of real stocks.
The loosening of control of the yuan, to become freely convertible to foreign currencies and to be at the mercy of the currency manipulators is the biggest danger China is facing. It is under tremendous pressure from the West to allow the West to do as they like, as they please with the value of yuan. When that day comes, the West will buy up the yuan with toilet papers that they printed in unlimited quantities and will use the yuan to control the Chinese economy. China will then be at the mercy of the Western financial oligarchs working in collusion, and be controlled by them. They could bankrupt China at will by their complicated financial products and manipulations and the extensive network of financial players working hand in glove together. It will be a bloodless war that will destroy China in the name of free market.
The other major front is the stock markets. The western stock markets have been transformed into an unrecognisable monster and are stock markets only in name. The stocks will eventually all be worthless if the stocks listed in western model stock markets are a clue to what is happening. Many stocks are trading for one or two cents or less. What kind of stocks or stock markets would trade on such worthless stocks? There is no interest in the real stocks but in toilet papers printed with the words stocks or derivatives or other financial jargons. The base point is that they worthless and are not stocks but stock killers.
While China is in a hurry to develop its own financial and stock markets, it must not be conned into accepting the western model of stock market system and mechanism which are nothing but contrived legalised casinos with gambling chips printed with money value on them. The fundamentals of stock trading have been flushed down the toilet bowl and the substitutes are not stocks but meaningless and worthless scrips of papers, fakes.
China should go slow, develop its own stock markets based on traditional principles and conventional system, where the fundamentals are right. There is no hurry to rush into a system of madness that is unsustainable and is being kept alive not unlike a ponzi scheme. It looks good superficially but has no real value add like what real stocks are. It is the greatest con job of modern history. And like all con jobs, the bluff will be called and the system will collapse, if it has not collapsed already.
China must conscientiously guard against being duped into a freak financial system that is waiting for self destruction. If China should stupidly appease the West and unthinkingly embrace the western financial system, it will help the flawed system to extent its life a little longer at its expense, maybe giving it a semblance of rapid growth for a while, like a flash in the pan, and everything will be blacked out in quicker time, with a bigger bang.
The collapse of the western financial system is near, given its unproductive and destructive mechanism and the unjustifiable high rewards for doing nothing constructive, useful or productive. And when it falls apart, hopefully China is not another sucker being sucked into it and pay as heavy a price as the decadent West. The fundamentals of economic growth are production, productivity, creation of goods, values and real services. The western model is not any of these. It is just paper shuffling, financial engineering or tricks, accounting frauds, a complex system of unproductive con jobs. It produces nothing of value. It is conning one sucker after another to prolong its existence and delay its final ending. It cannot keep going without real economic growth and production.
China should just go on its own steam, doing what it thinks is right, keep producing valued goods for the world, and frustrate the modern day robbers and thugs and not be robbed by them. Do not fall into their trap by playing a game that the crooks have designed.
The loosening of control of the yuan, to become freely convertible to foreign currencies and to be at the mercy of the currency manipulators is the biggest danger China is facing. It is under tremendous pressure from the West to allow the West to do as they like, as they please with the value of yuan. When that day comes, the West will buy up the yuan with toilet papers that they printed in unlimited quantities and will use the yuan to control the Chinese economy. China will then be at the mercy of the Western financial oligarchs working in collusion, and be controlled by them. They could bankrupt China at will by their complicated financial products and manipulations and the extensive network of financial players working hand in glove together. It will be a bloodless war that will destroy China in the name of free market.
The other major front is the stock markets. The western stock markets have been transformed into an unrecognisable monster and are stock markets only in name. The stocks will eventually all be worthless if the stocks listed in western model stock markets are a clue to what is happening. Many stocks are trading for one or two cents or less. What kind of stocks or stock markets would trade on such worthless stocks? There is no interest in the real stocks but in toilet papers printed with the words stocks or derivatives or other financial jargons. The base point is that they worthless and are not stocks but stock killers.
While China is in a hurry to develop its own financial and stock markets, it must not be conned into accepting the western model of stock market system and mechanism which are nothing but contrived legalised casinos with gambling chips printed with money value on them. The fundamentals of stock trading have been flushed down the toilet bowl and the substitutes are not stocks but meaningless and worthless scrips of papers, fakes.
China should go slow, develop its own stock markets based on traditional principles and conventional system, where the fundamentals are right. There is no hurry to rush into a system of madness that is unsustainable and is being kept alive not unlike a ponzi scheme. It looks good superficially but has no real value add like what real stocks are. It is the greatest con job of modern history. And like all con jobs, the bluff will be called and the system will collapse, if it has not collapsed already.
China must conscientiously guard against being duped into a freak financial system that is waiting for self destruction. If China should stupidly appease the West and unthinkingly embrace the western financial system, it will help the flawed system to extent its life a little longer at its expense, maybe giving it a semblance of rapid growth for a while, like a flash in the pan, and everything will be blacked out in quicker time, with a bigger bang.
The collapse of the western financial system is near, given its unproductive and destructive mechanism and the unjustifiable high rewards for doing nothing constructive, useful or productive. And when it falls apart, hopefully China is not another sucker being sucked into it and pay as heavy a price as the decadent West. The fundamentals of economic growth are production, productivity, creation of goods, values and real services. The western model is not any of these. It is just paper shuffling, financial engineering or tricks, accounting frauds, a complex system of unproductive con jobs. It produces nothing of value. It is conning one sucker after another to prolong its existence and delay its final ending. It cannot keep going without real economic growth and production.
China should just go on its own steam, doing what it thinks is right, keep producing valued goods for the world, and frustrate the modern day robbers and thugs and not be robbed by them. Do not fall into their trap by playing a game that the crooks have designed.
The great subsidy game
In paradise, everything is subsidized by the govt. School fees, university fees, all subsidized. Hospital bills, subsidized. Polyclinic bills, subsidized. Housing, more subsidies in terms of tens of thousands or at least $60k for those earning $1000 pm. Dunno how much subsidies for the bigger flats, but must be big. Public transport, also subsidized, the latest $1.1b to buy buses and pay staff salaries. PUB bills, conservancy bills also got subsidies but called rebates.
If these are subsidies, that means the govt is paying a large portion of the bills. The cost must be genuine and that is why there is a need to subsidise. Can someone work out how much would all the subsidies come to that are paid by the govt? I think it is no small amount. Or this is already provided in the budget under Subsidies?
If one flat is subsidized by $60k, 1,000 flat would mean $60 million. And for bigger flats, the subsidies could be more. Imagine how much the govt has subsidized for 800,000 HDB flats? Add the rest of the subsidies, it could come to billions.
We should call ourselves Subsidy Paradise. I am thinking of setting up a Subsidy Club. Everything in the Club is subsidized including meals, services, retails etc etc for as much as 70%. Membership fee is $200k. Monthly subscription fee is $1000. I think this is an excellent concept. Forgot to add, Membership fee is already subsidized and so is monthly subscription fee. Members no need to worry. This subsidy concept is perfectly sustainable in the long run.
The great subsidy game is one of the key factors that allows the thousands of millionaires to live their normal lives. Without the great subsidies, the millionaires will have to tighten their belts and may go begging. Can our asset rich millionaires survive without the subsidies? This is perhaps the only rich country in the world where millionaires have to live on subsidies.
I remember that a figure was thrown out claiming that an average Sinkie would receive something like half a million dollars of subsidies in his life time. Foreigners must quickly opt to become citizens and become recipients of half a million dollars just by becoming Singaporeans. Where on earth got such a good bargain?
If these are subsidies, that means the govt is paying a large portion of the bills. The cost must be genuine and that is why there is a need to subsidise. Can someone work out how much would all the subsidies come to that are paid by the govt? I think it is no small amount. Or this is already provided in the budget under Subsidies?
If one flat is subsidized by $60k, 1,000 flat would mean $60 million. And for bigger flats, the subsidies could be more. Imagine how much the govt has subsidized for 800,000 HDB flats? Add the rest of the subsidies, it could come to billions.
We should call ourselves Subsidy Paradise. I am thinking of setting up a Subsidy Club. Everything in the Club is subsidized including meals, services, retails etc etc for as much as 70%. Membership fee is $200k. Monthly subscription fee is $1000. I think this is an excellent concept. Forgot to add, Membership fee is already subsidized and so is monthly subscription fee. Members no need to worry. This subsidy concept is perfectly sustainable in the long run.
The great subsidy game is one of the key factors that allows the thousands of millionaires to live their normal lives. Without the great subsidies, the millionaires will have to tighten their belts and may go begging. Can our asset rich millionaires survive without the subsidies? This is perhaps the only rich country in the world where millionaires have to live on subsidies.
I remember that a figure was thrown out claiming that an average Sinkie would receive something like half a million dollars of subsidies in his life time. Foreigners must quickly opt to become citizens and become recipients of half a million dollars just by becoming Singaporeans. Where on earth got such a good bargain?
4/15/2012
Faces of Agent Orange
Channel News Asia (CNA) will be featuring a special documentary on the victims of Agent Orange in Vietnam next Friday, 20 Apr at 8 pm. It is a very painful story of what this pretentious magnanimous, defender of human rights, and the advocates against chemical warfare did to the poor Vietnamese during the Vietnam War. They were so hypocritical, so freakish, to launch a war to kill Saddam Hussein for amassing WMD, including chemical weapons, when it was the US that provided Saddam with such destructive weapons in the first place. And the US is still holding on to a huge cache of chemical weapons in its arsenal, waiting to use it generously on its next victim. And the world still believes that the US is such a kind and loving country, so caring and honourable.
The programme is a must watch to see what the Americans had done against what they preached.
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