The world should learn from Sinkieland

Two gripping news today, rate cheating by Barclay’s on LIBOR and China’s curb on property speculation. In Barclay’s case, it was trying to offer better interbank rates against a fixed rate determined by a formula. The British authorities and European govts are against variable rates. They are going to frame criminal charges against the violators. They want all banks to work on a fixed and determine rate. Isn’t this against a free market?

Rates should be freed up so that every bank can compete freely to offer the best rates to their customers. This will bring down the cost of financing and must be good. And the Americans are the champions of such deregulations and free competition. Sinkieland is the next freest place in terms of free competition. A good case is commission rates. Several industries are encouraged or made to operate on a free rate basis, ie, everyone can offer any rate to their customers, even doing it for free, while they make from other businesses. Technically, some big financial institutions would be able to offer cut throat rates to win market share and make their profits from elsewhere. It will only encourage a lot of trading and business activities when commissions can be reduced to practically zero. Must be good for business. And cutting rates, offering better rate, is not a crime, it is free competition.

It is inconceiveable that the Europeans could not see the merits of free rates against fixed rates. They should allow the banks to compete freely with each other and those that are not competitive should be allowed to fold up. Free market mechanism should be allowed, with free play, to bring down the rates to the lowest possible.

In China’s case, they did not want property prices to go up, even after several years of curbing regulation, they would not want to see a rebound of property prices. China would encourage first time buyers but not speculation that would drive up prices and great profits for the rich. This is against free market practices and free market forces. By doing so, the prices of properties will be artificially depressed which is not good for the economy. The economy would not grow, just like North Korea, when a landed property cost $10k compares to a lousy 2 rm flats here that could fetch $100k. The North Korean economy will definitely be shrunk and small in size. Economy growth numbers will be small and slow to grow. No wonder China is so badly managed and at the brink of a collapse, according to free wheeling western economists and analysts.

If the North Koreans would to allow market forces to determine their property prices, all the landed property will be worth a few hundred thousand dollars instantly. China’s economy too will get a big boost with free market forces driving their property prices.

These countries should learn from Sinkieland and drive down the cost of doing business with low interest rate and let property prices shoot to the sky so that all property owners feel they are instant millionaires. Never mind if they are struggling to pay the mortgages and have nothing left for other things. When property prices are high, when speculation is a past time, the economy will boom and everyone will few really rich.

The Sinkie example is the best for high growth and high property prices, and for the making of instant millionaires without working for it. It must not be a crime to offer cheaper and more competitive rates, even no commission or doing things for free. It is not a crime to sell property at ever higher prices. It is good for the economy. People who cannot afford to buy just buy what they can afford, or rent. No one is forced to buy property at high prices. Free market at work.

Village girl

A piece of rar art. More can be viewed from www.artofrar.blogspot.com

The big man made garden

Some of you may remember the big fake volcano in Sentosa. Our latest grand attraction is in all counts another big artificiality in the vein of Hollywood, bright lights and humanly designed waterfalls, designer buildings and all the jazz. And the people lap it all up as the latest craze in town. It has outdone the cosplay event in town, where ordinary people could dress up as superheros or their favourite anime characters to live a few moments of fantasy.

In the new fantasy garden, many interesting programmes have been lined up for the visitors from food to education, and participation in all the botany related activities, understanding or getting close to nature in a souped up environment.

In an instant, one is transported into another wonderland of what humans think are desirable, to please the emptiness of dull city folks with plenty of money and nowhere to go, or not knowing what to do. It is a smaller version of the tranquil island of Sentosa, once a verdant little tropical jungle where one could enjoy nature, serenity, sand and sea for free. Like Sentosa, the new garden fantasy doesn’t come cheap for each visit.

What happens to the genuine century old Botanic Garden that is cultivated through time and by the hands of nature? What happens to the Wetland Reserves where a family could have a real taste of nature, practically for free? What is it like to enjoy a few hours sitting silently in the reserve, feeling nature, listening to nature and be a part of nature?

How much does it need to create this great nature disneyland that needs not be or could be created at lesser cost, lesser consumption of resources and expenses while preserving or destroying nature in the process? Could a more natural habitat living to the name of a tropical paradise, a little tropical jungle in the city be created in much lesser cost and much more nature friendly than this mammoth of human creation and achievement? How much more will it cost to run the attraction though the bills will be partially paid by the visitors?

What’s next? An interconnecting sky garden across the island like the hanging garden of Babylon, in much grander scale? Avatar was about the return to nature and its mystic, protecting nature and nature’s way of life. In the creation of our own Avatar, are we protecting nature or destroying nature in the process? The hidden costs and destruction to nature to bring about this wonder are not small in wonder. The continuous maintenance and creation of consumer demand and consumption in the whole process are the price to pay for this new gracious lifestyle, a visit to the Garden.

Do we need such a garden? Plenty of jobs are created which is good for the economy and economic growth. Do we need more of such jobs? Do we need more food and restaurants, more shopping centres and shops, build more expensive properties for sale to foreigners? Do we need to put up more containers to collect tin cans, plastics and papers to save the environment and mother earth?

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.