Buying American snake oil

Friday, May 11, 2012


Risky Systems, Dire Consequences...

Yesterday night a somber CEO had to announce publicly that his bank had lost U$2B dollars in set of complex synthetic derivatives trade,



This CEO is no ordinary CEO but the king of Wall Street, Jamie Dimon, one of the most astute bankers around. The bank went through the financial crisis unscathed but suffered heavy losses last week when a unit of the bank took on complex derivative positions that resulted in unexpected losses:



“This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed,” - Jamie Dimon, CEO JP Morgan.[Link[



If Jamie Dimon and his bank can't figure the risk they were taking, how will the rest of us ever fully appreciate the risks we are exposed to? ….



The above is written by Lucky Tan in his Diary of a Singaporean Mind blog. It tells a lot about the kind of snake oil being introduced into the financial markets around the world and how the world blindly bought what the Americans sold. Singapore is one of them. China must resist all it can from being duped by the Americans. It is just not worth whatever returns there is. It can ruin financial institutions and the whole stock market. Only duds who think they know best or are gullible enough to believe the American’s sales pitch will go in with eyes wide shut.

North Korea is Singapore’s friend

Singapore is the third largest trading partner of North Korea. Its second highest ranking leader, Kim Yong Nam, had just paid an official visit with a trade delegation and is now in Indonesia for a similar purpose, to expand trade. Indonesia is also a good friend of North Korea.

But in Singapore, the North Koreans have many enemies. These are the unthinking Singaporeans who have been fed with a diet of anti North Korean misinformation written by westerners and proudly printed almost daily in our media. And the minds of these morons have been so tarnished that when they talked about the North Koreans, they behaved as if their homes have been burnt and looted by the North Koreans or their mothers were raped by them. Such simple minded people with an empty and unthinking head are easy to be programmed to think like little monkeys.

To these people, North Korea is bad, poor, abject poverty, famine, miserable people, aggressor, wanting to start a war with every country, wanting to send their nuclear missiles to attack them. Funny, do they know where is North Korea? Or do the North Koreans even think that these people exist? No, the North Koreans don’t even know of their existence and have had nothing to do with them. But why the hatred? Why did they think, or think they knew so much about North Korea to hate them? Daft is a very appropriate word here. Their whole thinking and mindset have been programmed for so many years that they are behaving exactly as what the programmers wanted them to behave.

Singapore is the third largest trading partner of North Korea. What does that say? Singapore’s leaders have been visiting North Korea frequently and the North Koreans too are visiting the island just as often. It is fortunate the leaders of Asean have not turned into puppets on a string and be made to dance by the puppeteers. They know that North Korea is just another country living its own way of life. And Singapore’s initiative to bring the North Koreans into the main stream of international relations like what it did to the Myanmese is the best way to go forward. Embrace the North Koreans and integrate them into the international community. Not threats of war and sanctions like hooligans and gangsters.

Singapore media has a role to educate the daft Sinkies to think objectively and not to be manipulated into how to think and what to think of the North Koreans in particular and the rest of the world in general.

Going back to the 60s

When Hsien Loong asked if Singaporeans want to go back to the 60s, I thought he was using that as a reminder that going back to the 60s was a bad thing. The things that are happening today point to one direction. It seems that it has all been planned for Singaporeans to go back to the good old 60s.



Just look at what Singaporeans have been told and how their lives are changing. The first thing is that they have been told to live in smaller flats and mentally prepared to think that small is good. They have also been prepared to go around in bicycles or take public transport. In the good old days, only the very rich drove cars, the rest took buses and private taxis. This too could become a reality.



Today I heard that Singaporeans are encouraged to become hawkers. What about the dreams of becoming doctors, lawyers and engineers? Actually becoming hawkers or pasar malam stall owners isn’t a bad thing. Hawkers can make big money and many are driving Mercedes and living in landed properties. I concur that this is an extremely good idea. No need to waste so much time and money for a university education only to buy a 3 rm flat on graduation, and maybe ended as a taxi driver or a hawker.



I am reminiscing the great times of those good old days of the 60s, carefree as a substitute to being out of jobs, and yes, our womenfolk were factory workers or maids. And my favourite, and in support of the govt policies, to integrate the foreigners, let’s live together with them under the same roof. Singaporeans can rent or share their flats with them, or they can rent or share their flats with Singaporeans. Then they can communicate and learn to live with each other happily and learning another culture and way of life. Singaporean’s life will be so much richer with the experience.



And of course there will be more hawker centres selling cheap and better food and faster in serving as well. Sounds like cbf. All the mothers need not worry so much about queuing for the best schools and wasting money on tuitions. Back then the aspirations were very low and thus not much stress in education. How much stress can there be if the aspiration is to be a hawker or a taxi or bus driver? Oops, actually taxi driving is the new ambition of PMETs when they can become their own bosses, independent, no one to breathe down their necks, a new breed of entrepreneurs or SME businessmen. Very 1960s.



We are progressing to the 60s. The new ambition of school children, 'I want to be a hawker.'

Cauldron of Life

This is a series on life and the fire one has to go through in life. Surviving the cauldron of fire of life, one comes out as solid steel. Failure will see a melting down and turning into scrap iron. Living is a test of will, a test of character to survive in a path one chose to tread. It is not a walk in the garden. There are many twists and turns and one could be burnt any time in this journey of a life time.

Heavenly beasts - Pi xiu

This is another series of photopaintings that I have created with the help of Mother Nature. The image has never been seen before. They are not the mystical dragon or lion or the qiling. The closest I could relate this to is the pixiu, a smaller creature claimed to be the proetector of the owner and his wealth. Many images of the pixiu have been crafted, mostly in stone or jade, and displayed in homes or business premises. This photopainting could be hung on the wall at the entrance area, or the reception area of an organization in place of the carved varieties.


The unique feature of this kind of photopainting using the Art of RAR technique is that the images must first be photographed using a camera as the originals are unrecognizable in the water and will be there only momentarily. They will only appear in the full glory after some processing. This is a very unique and revolutionary way of painting, like painting the thoughts of Nature.

My tree of Life series is also created in the same manner.

A little mystery, a little miracle, a whole new way of painting.