Hsien Loong’s speech on growth

Hsien Loong’s speech to the Economic Society of Singapore has attracted critics to question some of the premises that he used. One is the soundness of our SWF and the other, the almost flogged to death horse, the need for more immigrants as the only way for growth.

I read Kenneth Jeyaretnam’s comments on how much was really left in our SWF or the possibility that we don’t really have much money in our reserves. To this I have a simple answer. Our reserves or money available for our SWF is unlimited. Our people will contribute in one way or another to ensure that the funds will always have plentiful of money. The supply is unlimited. Even dictators will be envious of our suppliers of money for our SWF. The people are happily providing the money without complaining or without knowing that they are doing so. Thus they did not even bother to know how much is there or not there. The only thing that needs to worry about is whether the people ended with any money for retirement or hospitalization.

As for more people for more growth, I think the people have not been cooperative, or not listening, or at least the Chinese and Indians. They need to support this policy by increasing the number of headcounts per household. They need to multiply more aggressively, even have more spouses if desperate measures are needed. More spouses, more children, instant growth. And if both can’t work, bring in more foreigners into their homes. The growth formula that is applicable to the country must also be applicable to households as well.

The only catch is that if one has two members living in a 1,000 sq ft flat, having four members will reduce the space per head from 500 sq ft to 250 sq ft. And if there are 10 members, each will only have 100 sq ft and this may impact on the quality of life. Then again it may not be so as some are advocating for smaller units. Dogs being quite comfortable in their little kennels are good examples to emulate. If Sinkies can be convinced to think and live like dogs, then space should not be an issue at all. Just a spot to lie down will be more than adequate.

When the Sinkies are conditioned to accept such quality of living, then having 10 member households would be a normal thing and every household will surely enjoy good growth. And if they want continuous growth then they just have to continuously make more babies to increase the number of people per household.

It is such a simple and logical solution and it is exasperating to find Sinkies unable to grasp such beautiful logic. More heads mean more growth, dummy. The farmers used to share this logic in the farms.

Notable quote on Thoughtlessness

The Zen of Thoughtlessnes


Just saw this cartoon strip of a senior monk telling a novice or student monk. ‘I have never met anyone so thoughtless in my life. Keep up the good work.’

And the novice monk replied, ‘Thank you master.’

The rights and wrongs of Reuben Wang

Reuben Wang is the new young sensation after the infamous get out of my elite uncaring face episode. But this time Reuben’s notoriety is about swearing at the DPM. Young people are hot and expressive. It is a kind of language that I too occasionally let go when frustrated by the unrepentant. Using such terminologies are socially incorrect in whatever circumstances, but sometimes they came out spontaneously and there is no other expletives that can replace them in saying what needs to be said. I am not encouraging the young to be so flowery and generous in their verbal expression.

It is the right for anyone to disagree with anyone, even with the govt or the most powerful one. Disagreement is not about being rude or uncourteous or being offensive or even a crime. What is so wrong about saying one disagree with some views or even policies? Unless the turkey thinks that he is damn right and nobody can disagree with his idiocy.

Young people, especially sinkies, must be encouraged to think critically and to disagree when it is right to disagree, when they seriously think that something is just not right. Maybe it is not a matter of right or wrong but a matter of priorities, a matter of values, a matter of interpretations.

No one shall be castigated for disagreeing. The schools have a vital role in not teaching students to conform to authority for the sake of political correctness. This will be the biggest failure of our education process if we do that. And unfortunately we have done that for too long and have sterilized the minds of several generations of unthinking Sinkies.

The inability or fear to question and to disagree is a sickness in our people to the extent that any little disagreement or non acceptance of a dominant idea is taken as a big surprise, a big shock, a no no. Disagreement, in the case of Reuben Wang, could be put forth succinctly, forcefully but with less venom. A little deference is not a bad thing but not be cowed by jokers who demand that everyone must know his place. A bit of decorum and decency is good and would allow a disagreement to be taken and accepted in a more pleasant way. Just disagree if one has do, and there is nothing about being brave or being right or wrong, but don’t give the other an excuse that one is rude. That will distract the whole intention of the disagreement.

As this is exactly what happened to the Reuben case. It is no longer about the whys of his outburst, the reason for his displeasure or anger. It is now about his being socially incorrect, rude and maybe be removed from school. It became a disciplinary issue. What happens to the crux of the discussion? Lost in the milieu of challenging a social norm?

Happy Times are here

Today the ST generously gave space on its front page to Hsien Loong making bak chang and an equally happy Yeo Guat Kwang on his side. You can see that they are genuinely very happy people without a care and living a life of plenty. Swiss standard of living is here.

Back in my mind I was wondering how many Sinkies are enjoying the same kind of lifestyle with the wonderful growth that the country is chalking up all these years. If only more Sinkies can enjoy everyday the way Hsien Loong and his ministers and MPs are enjoying, having simple joy of making bak chang and enjoying every moment of it, the govt would have done it. It will really be a success story to tell the world, that we have achieved in building a country of happy and affluent people.

And he would not need to apologise for doing things wrong and no need to exhort the people on the need for more migrants to shore up the economic growth for the good of the people. Everything will take care of itself if more citizens can flash the same kind of happy smile. What I am seeing is that the happy smiles are on the faces of many foreigners here. Even the grandpas and grandmas of foreign talents strolling in the estates with their grandchildren are looking very contented with their lives here. You can see that they are really enjoying every moment of it like they are in paradise, a place where there is no worries, the good life.

China – What a disappointment!

It is unbelieveable, it is too early to tell, the Chinese must have been tweaking their numbers, and against the analysts of the world, the most intelligent bunch of idiots, China defies all the doomsayers by chalking up another scintillating set of economic numbers. The slump, the hard landing as predicted by these analysts all looked very silly.

Export growth in May over last year went up by a huge 15.3% exceeding or equal the once in 500 years annual GDP growth record held by Singapore last year, at 15%, or was it 15.5%? Imports also soared by 12.1% over last year. And the brilliant analysts with their grand computer assisted formula were expecting a sharp fall, which would lead to job losses and unrest.

There are so many countries with less than 5% growth and many with zero growth rates but with no social unrest. China must be different. A decline in growth from 8.5% to 8% is so terrible and could spell disasters for China. The bankruptcies of Greece, Spain and many European countries are well accepted by their people without serious social unrest. The only countries that would face serious social unrest are those targeted by the West for more military assistance to resist their ruling govts.

The doomsayers are obviously feeling very angry and deeply disappointed. Why is this underdeveloped country with unsophisticated country bumpkins failed to slow down and continue to make them look so clownish? What they also forgot is that a major slowdown will bring down the world’s economy as well. At the moment it is the Chinese economy and some other Asian economies that are propping up the international economy. Without these growing economies, the world would plunge into a major recession and they would not need any analysts and doomsayers anymore. And no more cheap and good Chinese products to lower their cost of living, no more Apple Iphones at affordable prices in the market.

Too early to tell, they echoed. They are still hoping to be right. For that to happen, Europe and America must first go on a tailspin, to cut their demands for Chinese goods before it hits China. And when Europe and America fall flat, China could still rely on its domestic market and other Asian and African markets to grow at 3 to 5% which are very respectable growth numbers during a recession.

And last month's trade surplus for China was $24b! That amount could probably save Greece or Spain.