Selling snake oil ok?

The world’s financial system is in a mess in many ways. Primarily the root of the problem is that it is run, operated, managed and regulated by crooks and robbers in designer suits and Ivy League degrees. The tragic result of this combination is best seen in the 1990s world financial crisis originating from Wall Street and London. The world’s financial system was taken down to its knees and the govts were helpless as the organisations were too big to fail and the people managing and regulating them were too prominent and important to be put behind bars. Only one or two were made the scapegoats of the whole fiasco.

The whole mess was revived without a button missing after govts poured in billions and trillions to avoid the failure of the financial system and the big financial organisations. Practically every crook is still in his job with every regulator as their accomplice smiling, and all laughing to the banks again.

There are three levels of financial crimes in the whole picture. At the lowest level are the snake oil sellers and the snake oils they are peddling. Many regulators took the cursory approach of going after these small guys, the snake oil sellers, as they are the most vulnerable, without the financial muscles and connections to protect them. And they can be easily shoved and pushed into the drains. And regulators are seen to be zealously doing something, chasing the snake oil sellers, putting all the blames on them. They are the problem, helpless punks and easy meat to bully and to be taken to task for the smallest indiscretion. It is so convenient.

The next level, more difficult to touch or untouchables in their own ways, are the top management authorising selling the snake oils. They are too high up there, with halos over their heads, presumed to be, in the Sinkie parlance, immortals and infallible human beans. They will not err and will not be accomplices to the low down crimes of the snake oil peddlers. How could they be blamed for their indiscretion and bad practices? Just keep clear of them or they will counter sue if prosecuted.

At this same level, other than allowing the juniors to peddle snake oil, they may even indulged in deceit and trickery like the Barclay case. And when caught with their pants down, no worry, they just walked away from the jobs and expected to be paid a ransom for doing so. That is how corrupt and disgusting the financial industry has become. Criminals or abetting crimes would not be prosecuted but handsomely rewarded. Only the snake oil peddlers under their charge are at fault and will be charged.

At the next higher level will be the casino operators. When normal health supplements are not bringing in the loot, anything else goes. Snake oils or poisons will be okay as long as the revenue is good and business is seen to be thriving and flourishing. Just don’t call them snake oils or poisons. Give them some sophisticated jargons that no one will understand. What if the casino operators are engaged in facilitating institutions to push snake oils and poisons into the system at the detriment of the consumers? Would there be anyone to regulate them, to check on the snake oils and poisons in sugar coated forms?

Or would everyone act dumb, pretending that snake oils and poisons are health food and supplements, or simply look the other way? And there are plenty of works that can be done and to look good chasing the snake oil peddlers who are so helpless and waiting to be put behind bars? In short, who is there to check and regulate the regulators?

Welcome to the entertainment hub

Looks like the circus is in town with so many hilarious happenings in Sinkieland. Everything is happening in this little piece to rock to keep the citizens and netizens laughing. One can even expect the merlion to laugh until its jaw drops. Nothing is unimaginable or unexpected nowadays.

When things are so comical, the citizens will have no time to watch Channel 8 for more comedies.

Dumb Americans

With the world’s best brains in research and technology, and military experts, they spent US$5b on a lemon uniform only to scrap it in less than 10 years. Despite all the tests and trials they only found out that it did not work after 7 years in service. Now they would have to spend another US$5b to replace that lemon.

On the other hand, Singapore used the uniform, tested by our experts, probably redesigned and improved on it and found it almost perfect to our needs. We even designed and created an uniform for desert warfare in Afghanistan, as reported in the papers today. Now our soldiers would feel safer fighting in the desert.

And the Americans are reintroducing a new design to replace the pixelised uniform. The new design is nothing much cutting edge really, likely to be a bit of change here and there of the older design that was replaced by the pixelised version.

Singapore should have offered our proven and tested version to the Americans at probably half the cost of their new design. It will be a win win situation. And Singapore would earn a new feather on its cap as a military uniform designer, better than the Americans.

But knowing the Americans, they would not accept anything from anyone. Singapore could actually buy over the rejected pixelised stocks from the Americans for a song since they have no use for them. It will help the dumb Americans to dispose of their unwanted uniforms. Otherwise they will likely burn them, or maybe bury in the desert. Maybe they will donate to Hollywood for another mega war movie with the rejected uniform to be worn by the losers.

Consider Mercedes or BMWs for staff cars

During the early days of Mindef, most staff cars are Minis, Fords, a few Japanese makes and a few Mercedes for the top brass. But those days cost was important as the country was not that rich. Today we have billions and billions in our reserve and maybe it is timely that Mindef or the other ministries should go for quality since money is no longer a problem.

And going for quality is not extravagant really. Buying cheap cars is like penny wise pound foolish. A Mercedes or BMW is made to last for 20 years unlike the other cheaper makes that would last no more than 10 years. And the ride is so much better and comfortable. And there is the safety aspect to care for. Mercedes and BMWs are built with many safety features which will make them so much safer for the passengers, our NS men. Oh, include in the specs to have 4 airbags, two in front, two behind, plus side protection bars and anti roll bars. Safety is of paramount importance and cannot be compromised.

Buy quality is not wasting money. Mercedes and BMWs must give me a commission for this brilliant suggestion. And with two of them submitting for the tenders, there is a price comparison and competition, and the contract can be given to the lowest bid. Can throw in Audi if three bids are needed.

Remember, quality comes with a price. Can cheaper, better and faster mean quality also? If that can be so, then no one will want to buy expensive goods. Start by changing all the chairs and office furnitures.

Do not underestimate the Malaysians

Malaysia just launched one of the world’s largest IPO in IHH Healthcare at $2.6b. The company will be listed in the SGX and Bursa Malaysia. What is amazing about this launch is the list of hospitals in its stable. Among the big names are Mt Elizabeth Orchard, Mt Elizabeth Novena, Gleneagles and Parkway Hospitals. If the names sound familiar, yes, they are all the top hospitals in Singapore.

Malaysia has not only bought over this strategic group of hospitals, it also owns one of our power stations, it has bought into two of our brokerages, and I am sure it is also into many other acquisitions of good Sinkie companies. With their oil money, it is quite foreseeable that it could buy up many good assets and companies here.

I see this as a brilliant strategic move. They have turned the table and thrown away their village mindset of always on the losing end when dealing with Sinkieland. They are on the offensive. When everything is for sale in Sinkieland, it is only a right thing to do for Malaysia to buy them up. And don’t forget, it is exchanging Malaysian ringgits for Sing dollar. In the long run, should the ringgit depreciated against the Sing dollar, Sinkieland will end up with much less value ringgits while Malaysia will be sitting on highly valued and well appreciated Sinkie assets.

For those who are worrying about the fate of Sinkieland remerging with Malaysia, not to worry. It need not be. It will be bought over in a matter of time. Don’t underestimate the strategic minds of the street smart Malaysians. Our book scholars will be no match to them as they only think of buying and selling for immediate and short term gains. The long term strategic thinking is somehow absent. And with so many Malaysians here as PRs or citizens, the merging or takeover will be smooth and easy.

And the Malaysians know how to buy good stuff. They don’t go around the world to buy junks or out of luck companies.