Is there a choice between smaller and bigger population?

“If Singapore depends on the talent it can produce out of three million people, it’s not going to punch above its weight. Lee Kuan Yew

We were 1m, then 2m, then 3m before we added all the foreigners to 5.6m. When we were 1m and 2m, we were already producing the talents that built the foundation for our economic miracles. We were producing talented Singaporeans even then. Unless those were not talents, then we are just slapping our own stupid face.

Now we are more than 5m. Did the increased population with foreign talents, throw out any great talents? The only foreign talent that is worth mentioning is Olivia Lum of Hyflux. The rest were plain employees, sitting on their fat asses and getting fat pay which any Singaporeans can also do so given the chance. Many of the CEO positions can easily be filled by Singaporeans and you will not see any difference in performance, maybe even better.

The three local banks were built by Singaporean talents. Without local talents there would not be any big local banks to think of. SIA, SMRT, Creative, Singtel were also locals. Not sure about Temasek and GIC but their startup fund is definitely local. The hospitals with their specialists and state of the art equipments were mainly run by Singaporeans and Malaysians. By the way, I think Singaporeans have never regarded the Malaysians as foreigners historically.

Did we produce lesser talents when we were 1m and 2m than we are now? There are some great talents in R and D. But these are instant trees. Would their offsprings be more talented than the offsprings of coolies and labourers, washerwomen and salesmen? What about the risk of offsprings from fake papers and fake talents?

If we have not over aspired to go for 6m and more, we would not be pressurised to create more jobs and ended with the two casinos. We would not be so desperate in our need for water and power and flirting with the risks of a nuclear solution to our ever growing need for more and cheaper source of energy. No need to talk about hyper inflation, high cost of living, high property prices, congestion, inability to own a car etc etc. All these problems are the negative effects of high population. Growth is good but not by increasing population indefinitely. It is a time bomb that must blow up if we don’t stop the population growth. It is not only a time bomb for this little rock but for Gaia, if population growth is not stopped.

What is so bad about a smaller population with lower growth, but real productivity growth, and a better quality of life, with more space for everyone and a lower cost of living?

What is price fixing?

Below is copied from the Competition Commission of Singapore’s website.

‘ A particularly serious type of anti-competitive agreement would be those made by cartels. Cartel agreements are usually to fix prices, to rig competitive tendering process, to divide up markets or to limit production. As a result, the cartelists have little or no incentive to lower prices or provide better quality goods or services. Based on economic studies, cartels overcharge by 30 per cent on average. There are four main types of cartel agreements:

• Price Fixing

Price fixing involves competitors agreeing to fix, control or maintain the prices of goods or services. It can be ‘direct’ fixing of prices, where there is an agreement to increase or maintain actual prices. Price fixing activities can also take the form of ‘indirect’ fixing of prices, for example, where competitors agree to offer the same discounts or credit terms. Price fixing agreements do not have to be in writing, a verbal understanding at, for instance a trade association meeting or at a social event, may be sufficient to show that there was a price fixing agreement. It does not matter how the agreement was reached or whether it has been carried out. What matters is that the competitors have agreed to collude.’

On 29 Jul 12, it was reported that 7 Town Councils announced that they would be revising Service and Conservancy Charges in their respective areas. My first impression is that here is a cartel of 7 Town Councils working together to fix prices at the same time. But then again, I think these Town Councils would know what price fixing is all about and knowing the law, they would be well advised not to violate it. Further, they are not commercial enterprises but govt or semi govt agencies and price fixing offence may not be applicable even if they did have some agreements to raise their fees together with or without any intention to fix prices.

As a layman, I would be hard pressed to try to interpret and understand what is price fixing by a cartel and whether in this instance there is any, or whether the Town Councils are guilty of price fixing. I have no reason to doubt the integrity of these govt officials and would believe that they have done the correct and proper thing and there is thus no price fixing.

52 years of fantasising come true

The Olympic medal finally arrived after 52 years of waiting since Howe Liang did us proud in Rome in 1960. We can now feel it, touch it, kiss it and pray to it. Maybe a little shrine shall be built for the public to visit these two medals, to touch them for good luck or something like that. On hindsight, who are the people craving for such a medal in the first place? The men in the street, the Ah Kongs and the Ah Mahs, the Ah Ter and the Ah Kow, the sports fraternity, the adolescence or the mature oldies? We have been talking about this craving for an Olympic medal but who is the one that wanted it so badly to spend so much money for it? How much has been spent, must be ‘very much’ taking into account the logistics, medical and training support, coaches, food, training expenses, salaries and rewards etc, not just for Feng Tianwei but for the whole gang of players and supporting staff over so many years.

One thing for sure, no Sinkie sportsman or woman would want it so badly to sacrifice time and effort to go through a very tough and discipline regime to be world champions. The Chinese factories and other European factories are churning up champions by a very thorough full time process from a very young age. I don’t think any Sinkie or Sinkie parents would want to put their wards through the regime.

Anyway, the medal has arrived. Where to go from here? Would this be so exciting to stimulate people to want more, or would want to go for the gold and spend more money and resources for it? Or would people said, okay, enough of fantasies and youthful infatuation, time to grow up, no need to keep up with the Joneses. Let’s move on to more serious things in life? Some may want to use this medal as a springboard to go ahead in a big way. Some may want to tone it down or want to spend the money on the real Sinkies. And if no real Sinkies want it bad enough to put in the effort, then the money can be better spent on the welfare of the people in other areas.

Sports is about sporting spirit and competition. It would be acceptable too if it could be turned into a commercial enterprise like the European Football Leagues, creating jobs and generating revenue. But if it is a cost centre and for a little bit of glory, is it worth the expenditure, effort and resources? Do we want to go for more medals in the same way?

PS. There have been many negative remarks made about these imported sports talents. I think it is unfair as they are here because we asked them to be here. If any country would to offer any Sinkie such attractive terms it is fair for the Sinkie to accept the offer. They are not to be blamed, just like the FTs that are here. The person to take the blame should be the one that opened the legs wide wide.

PS, the 52 years wait is a mistake. Singapore won a silver medal in table tennis women's team event in 2008 Beijing Olympics.

Quote of the Day – Justice Philip Pillai

"There is no requirement in the Constitution to call elections to fill elected Member vacancies," - Justice Philip Pillai

The much awaited decision of the Vellama Muthu versus the PM case is out. And it is now clear, a ruling by a high court judge, that according to the Constitution, there is no need to fill the vacancies of a constituency if it is empty for whatever reasons. And the judge also ruled that the PM has absolute discretion whether to call an election to fill the vacancy of an elected Member.

Is that the final answer? Apparently yes. Can make a call for help? An appeal against this interpretation of the law? I don’t think there will be any other interpretation unless the Constitution is amended. So the people would now have to live with a constituency without an elected MP if the bugger buzzed off during his term of office for some reasons until the PM decided otherwise.

That must be the intention of the Constitution and must be good for the people. Constituents who go voting must now think doubly hard when they go to the poll. They must check the health and conduct of the candidate before voting just in case the bugger mati half way or kenna exposed for something and force to resign. Then they can be left with no MP throughout the term.

The legislators must have seriously thought through this before writing the law into the Constitution, and this is good for the people and country. And technically if after 3 days of an election, an MP is knocked out for some reasons, just too bad. Under the Constitution and under this latest judicial interpretation, it is possible to have no MP to serve the constituents.

SGX targeting the heartlanders

SGX is mounting a public campaign to educate the heartlanders to invest in the stock market. One thing unsaid is that the market is very sick and there is an urgent need for an injection of morphine before the market turns into a cold turkey. I said morphine injection and not tonic as more innocent traders entering the market, if they take the bait, will only be a temporary respite. The market would still go into a coma and then mortis rigour if nothing is done to look at the real causes of its bad health.

What has happened to a flourishing market that saw hundreds of thousands of investors vigorously trading daily but vanished into thin air and the market looking like a cemetery on a weekday? Where have all the investors gone and why?

There is something very sinister in the dying market. Is this due to the uncertainties in the collapsing world economy, the financial system, or is it something local and systemic? Or is it that the products are unworthy or unfit for consumption? It is important to understand the causes of this pathetic state of the market before bringing innocent and naïve heartlanders to trade in a market that is more like a casino, dominated by computers and the big boys. Someone once advised that traders cannot trade against Robocop or the computers and hoping to come up tops.

The heartlanders are not the super rich that have easy money to splash and to lose. Their little savings or spare cash are blood and sweat money and if they are encouraged to trade in a stock market, their interests must be protected at all cost. Does anyone want to know what happened to all the traders in the market? Where have they gone, what happened to them and why were they no longer in the market?

This could be a good place to start and the answers could reveal the causes of the dying market and what needs to be done before bringing in the sheep for the slaughter.

Is there anything wrong with the market? This is a spooky question that begs to be answered.