PG for court hearings

What is the case all about between Ng Boon Gay and Cecilia Sue? Is it a case about promiscuity or about corruption? So far the case is more about detailed sexual acts, explicit, implicit, lewd, perversion, and nearly everything there is to make an X rated movie sell. The corruption part seems to be less important and superficially treated. It is like a violent movie with all the gore and blood with little care to the plot.

I think the censorship board should be called in to snip some of the scenes from being published in the main media or people may think that it is an evening paper or some wanbao.

Should the media also be rated for certain news like PG, under 18, under 16 like in the cinemas or on TV?

My view is that this episode should receive a PG rating at least if reported in the media.

The stupidity of scrip lenders

The lending of shares to short sellers in the stock market was originally a scheme to facilitate error trading by investors. Short selling was also an offence in many stock markets or at least discouraged for obvious reasons. The encouragement by stock exchanges to facilitate scrip lending to sellers who short the market to make a quick profit for the right or wrong reasons is turning into a game of stupidity for the owners of scrips. It also makes the exchanges look just as silly.

Scrip owners or long term investors are encouraged to deposit their scrips or make them available for short term loans in return for a small fee that is nothing more than the prevailing interest rate. To earn such a pittance, the investors risk the value of stocks they are invested in to be driven down to ridiculous level and to suffer heavy losses.

The latest case of Olam International is a glaring example of how stupid this scheme has become and how silly the long term investors were made to look. They were actually helping the short sellers to destroy the value of their investments by lending them scrips to short sell. How could stock exchanges encourage such a scam is unbelieveable.

In a period of 6 months, from mid May to mid November 2012, the number of Olam scrips on loan increased from about 6% to 12%. In the same period, the price of Olam was down from around $2.20 to $$1.70. This is a loss of 50c or more than 20% of the value in May. If 100 million scrips were on loan, it amounts to a loss of $50m. How much could the owners of these 100m scrips get for lending the shares to the short sellers, $500k?

Is this so difficult arithmetic to understand that the scheme is so nonsensical and daft to the long term investors? Scrip lending only makes sense when it is in small numbers and does not affect the price of the shares aversely. It is useful to facilitate the smooth functioning of a stock market. When it is being abused, when it is used to destroy the value of a stocks, why would investors want to participate in such a scam to incur losses? Why would stock exchanges think that this is a good thing to encourage and to make it so convenient to borrow scrips in big amounts to destroy the value of stocks like in the case of Olam?

You don’t need to be a genius to work out the sums and to cry foul. The only people who could benefit from this scheme are the short sellers and long term investors who are also shorting the market to buy them back later. Obviously there are some long term investors with big holdings that would participate in such a scam. In the Olam case, the owner, the biggest holder of the stocks, is crying foul as a huge sum of money has been wiped out from the value of the stock. Olam International, as the major owner, cannot participate in such a scam as it would be questioned and may even be found guilt for insider trading or share manipulation. Other than Muddy Waters, who are the other best scrip lenders that are making a killing in this sell down? Unlikely to be Olam.

This can happen to Olam and any other stocks, the minority shareholders and the owners would be the ultimate losers. The manipulators would be laughing to the banks cause the stock exchanges allow it through the scrip lending scheme and short selling.

In praise of the brilliant policies

Two key issues dominated the Natcon recently. Public housing is still affordable and CPF savings for the young will be enough when they retired. Some could add a third, the PSLE. I fully agree with the survey and comments that public housing is affordable and the CPF savings of the young will definitely be enough when they retired.

The caveats. As long as the repayment term is flexible, as long as the rubber band formula does not snap, public housing is affordable. (My personal definition of affordable is one income and a 20 year repayment at not more than 30% of monthly salary. Sinkies must not blindly subscribe to the deception of a moving reference point that makes the next astronomical number looks like only a small increment. It is a sneaky way of reasoning to make the unreasonable appears reasonable). It is time to put a stop to this unending Natcon that public housing is not affordable. It is affordable! You need proof, well just look at the queue and the happy buyers of every BTO launch. You want real numbers? There was a case where a buyer’s monthly income is only $1,000 and he could buy a 3 rm flat, or was it 4 rm? Then there was this couple who earn less than $12,000 pm and could afford to buy a $1.77m executive condo. These are hard proofs that at both ends, public housing is definitely affordable. Other wise there will be no one buying them. And for those who cannot afford to buy, just too bad, work harder and earn more or lower your expectation, buy within your means. But if you earn more than $12k, buy within your means also, empty your wallet to get a private property. It is prudent to spend every cent you have for a private property.

As for the savings in the CPF, sure, I am 100% sure that the young will have plenty of money in their CPF when they retire. The fear that inflation will eat up everything in the savings and turns the currency into banana notes is unfounded. When inflation goes up, just increase the amount to be saved, to be kept in the minimum sum. So easily done. If inflation goes up by 200%, make sure that the minimum goes up by the same amount or more. By then, if a plate of char kway teow is $1000, no sweat, the minimum sum could be $20m. So much moolah! As long as the minimum sum formula is as elastic as a rubber band, it can be stretched and stretched to accommodate the slack. I would even guarantee that it would be affordable when the young hit retirement age at 80 or 90. There will be plentiful of money in their CPF. Don’t worry about the value of the money. Don’t worry, I won’t be around.

In conclusion, these two topics should cease to be national issues for discussion in the Natcon. Natcon should be used to discuss about happiness, graciousness, kindness, harmony, and how we want the country to be in the future.

In conversation with Mother Nature

This is a new piece that I have created. It is untitled and not in my Exhibition.

In conversation with Mother Nature

We used to be very close to Nature, living off Nature and walking with Nature. Those were the days when people were living on landed properties, be they attap houses, zinc roof wooden huts or simply some mixed mesh of structure to provide shelter, and spent the days in the field, in the sea, farming for a living. The animals, pigs, goats, fowls, cats and dogs lived in close proximity with human beans, sharing the same common space.

In a highly urbanised lifestyle, it is not surprising that many children today did not know what a chicken or duck looks like. Their lives circulate from one concrete building to the next and revolve around modern gadgetry. The only chicken or animal they know are in small pieces on the dinner table. The closest they get to Nature is likely to be a walk in the rain.

I have been in conversation with Nature daily, in a way, through my art. My 7000 pieces of raw images of simply water taken with my camera will keep me busy for years trying to figure out what Nature has imprinted in them. Daily I will work on a few pieces, reviewing and manipulating them for an insight into the thoughts of Nature. Every frame of digital image that looks innocently bland and boring contains a hidden image or message, or many images and messages that are waiting to reveal themselves. Every picture or photopainting that surfaced is the end result of hours of negotiating with Mother Nature, attempting to understand what Mother Nature wants to show to the human world.

I spend many hours daily working with Mother Nature and talking to her, through her works that are deceptively concealed in the unassuming form of reflection and refraction in a pool of water. Sometimes I wonder if it is real, that Mother Nature could be behind all the photopaintings that came forth like a magician and his doves or pulling a rabbit from a hat. Sometimes I wonder if what I finally put into print is the ultimate image that Nature wanted. Sometimes I wonder if there is a message, a hidden message of some kind that Nature wanted to tell us.

Everytime I attempt to look at another perspective, a totally new concept and picture could appear that is entirely different in nature from my earlier interpretation. It is like trying to discover a mystery, to understand Mother Nature through her paintings. Through my photopaintings, Mother Nature is like being there with me, occasionally tipping me off with a little exciting shades and shapes that would lead to more fascinating ways of looking at something so common and unemotional, a reflection or refraction of nothing but light in water. This is going to be a long conversation with Mother Nature and is like an unending journey, as I have only taken my first step, a tip toe, into this wonderland of paintings out of thin air, or simply water.

 

Catching spiders, flying kites and PSLE

While many oldies reminisce daily about the good old days of catching spiders, flying kites and 5 stones, as if these were the greatest things to happen in their lives, and wanting the young of today to share their wonderful amusements of the past, do the young really appreciate or want to appreciate these primitive distractions of days of poverty? Would they care a dime or want to spend a second to ponder what the excitement was about?

What is really in their mind, what is really exciting to them is beyond the grips of the oldies. Their fantasies and passions today are things that were out of this world in the times of the babyboomers, unheard of then and still alien to many of them today. In their lips, in their sleeps, it is things like BoA, EXO K and M, TVXQ, and Shinee. Now what’s that? Not a clue.

These are the young sensations from Korea, the K pop generations. They are in town to perform live at the floating platform in Marina Bay. The young have been queuing 2 fortnights in advance for a front row seat costing many times more than a kite.

These young performers are earning real good money that comes with fame and a big following of fans. They are celebrities in their own right while in their 20s and could be making more money than our scholars. Who cares about PSLE? What is PSLE? Not that they did badly in their school days, but PSLE is almost irrelevant in their success.

Our young are only there to be spectators to their success, to pay to watch them, probably because of PSLE. They have no time, no passion for anything except PSLE while these entertainers are having a ball of a time, travelling the world, wowing their little innocent fans that probably have a few sheets of model answer papers in their bags while at the concert. And in their spare time the Sinkie young were enticed to visit the museums to admire the good old days of their parents, how great a time they had with little beads of seeds, match boxes to hold spiders, catapults, and what primitive little toys.

Why are our young so imprisoned in a small and uncreative world of books and PSLE and ancient toys and not aspiring to be world beaters on their own, to be provocatively creative and exploring the new frontiers like Gangnam or K Pops? If the young Koreans can do it and be such an international success without PSLE, why the obsession for that piece of paper as the end all of living happily and having a good time?

Would our little ones be inspired to new challenges and not be bounded or trapped by the PSLE forever, and complaining about stress that is not worth it? I would suggest that all the parents bring their young to the Marina Bay and see a different facet of life, of living life, of creating something new beyond old mindsets and be emancipated, and to set their young free on a course of discovery and finding new meaning in life.