Our sacred Constitution

I read some articles that we don’t really have a Constitution though we have one. The rationale is that when a constitution can be changed at the whims and fancy of law makers, it is no longer a constitution. There is some merits to this kind of explanation. Constitution is the highest document and must be highly respected and guarded, protected and not to be trivialized. Anyone thinking of changing any part of the Constitution must give a damn solid reason to do so, and the citizens must also agree to the change.

With the influx of foreigners into this little piece of rock, with the original citizens being diluted and some may even disappear or become a rarity, some of the fundamental legislation may be subject to attack by the newcomers who are growing and will become a substantive force to reckon with.

One of the main pillars of our country is the four official languages that are sanctioned in the Constitution. Correct me if I am wrong. With foreigners becoming more in numbers to our very own minorities, it is only a matter of time before some will insist that their language be made an official language in addition to the four existing language. Some may even suggest the removal of lesser used language to be removed. Possible?

Let’s hope there will not be such a day when our Constitution comes under such attacks. This part of our Constitution is sacred and no new citizens should even think of amending the Constitution to adopt their new languages or whatever. The new citizens are here to adapt to our way of life, and our Constitution, no the other way round. They are here because our way of life and our Constitution are better than those they left behind. It cannot be the other way, that they came from a far worst place, a way of life that they seek to runaway from, to want to change our way of life, and our Constitution to be like them. It sounds ridiculous, but it will happen if we are not careful or if we are silly enough to do it.

The depth of internet discussion on current issues

The key issues in the internet over the last week were AIM, bomb threat and the Punggol East by elections. Netizens were fully engaged in very serious and heated discussions over these issues and the intensity and volume of discussions must be a sign that they are things of great concern.

In contrast, reports of these issues in the main media were brief and scant and lack of continuity. This could be one of the drawbacks of the main media as they could not spare the space for a sustained discussion in depth and breath. And in the case of AIM and the bomb threat, both were promptly reported in the internet before the main media picked them up.

The main media is now finding it tough to play catch up to the ongoings and issues in the social media. The availability, timeliness and the space for in depth and engaging discussion in the social media will be an act very difficult for the main media to follow. The main media’s role is likely to be on reporting incidents on a once off basis, and this may not even be timely. The other role it can continue to play is to put up a monologue article, a one sided affair where discussion and engagement is rare and minimal or non existence. It is like a talk down instrument, telling the readers, informing the readers, and that is about it.

The social media is going to change all the news reporting and discussion on national or people issues to beyond what the main media can envisage. It is a totally new form and way of communication and journalism. It is engaging, alive and interactive and timely.

Home prices hit record high!

According to the latest URA report, ‘Singapore home prices climbed to a record in the fourth quarter after developers sold more homes,…’

This is a terrific piece of good news for all flat and landed property owners. I am also exceptionally pleased with this news as my little flat is going to be $1m soon. Then I can sell and migrate to some little corners of China or Thailand, or maybe Australia to spend my twilight years away from this dynamic and rich city.

Or maybe I will join my children in Europe and stay with them with all expenses paid. Whatever left over after my last days can be willed to them.

And there are people comparing Khaw Boon Wan with Mah Bow Tan to see who is worst. Now, now, I think that is a wrong approach, wrong attitude. Should compare who is better. I think Boon Wan is getting better and betterer with the housing prices under his charge.

The little misgiving I have is that my children will not want to be back here anymore. Both have very good post graduate papers and living abroad is no big issue to them.. Both will trade their places, and allow some foreign talents to take their places here. I think they will find it more cost effective to spend their money in other less costly countries. At least they have a choice. For the next generation of young Sinkies with no choice, I am sure they will all be most happy to buy the million dollar HDB flats and the multi million dollar private properties.

All will call themselves millionaires but taking public transports. They will probably be invited to enjoy the bungalows of their maids for holidays in the Philippines, Indonesia, India or Myanmar. And all Sinkies can live happily as millionaires in their flats, and to downgrade to smaller flats during their twilight years with nothing to worry about except don’t get sick.

Blurring the lines between foreigners and citizens

People living in Singapore should relate to one another as human beings first instead of trying to “pigeonhole” one another according to nationality, said Acting Minister for Community Development, Youth and Sports Chan Chun Sing.

“When we look at an issue, let's try not to pigeonhole each other as a Singaporean or a foreigner, which can complicate the problem,” said the Minister, who was speaking to an audience of about 600 community leaders at the annual National Community Engagement Programme Dialogue on Saturday, reported the Straits Times.

I totally disagree with this approach to blur the lines between foreigners and citizens. The issue of citizens first and foreigners second has been thrashed many times and we are just beginning to see some difference with priorities and benefits skewing back to favour citizens. We must not allow anyone to blur the line again and let foreigners think they should be treated better than Sinkies or that both are equal.

This is our country and foreigners are foreigners. Foreigners are fair weather immigrants here to make money and to disappear when things are not to their liking. We can treat them fairly and decently but must always remember that foreigners are not citizens. The Govt is voted to be the govt by the citizens to look after the citizens. The interest of foreigners must be incidental and not be given priority or preference over citizens.

We even have 4 ethnic groups in our identity cards to define the differences. Why should we ignore the difference between foreigners and citizens especially when they crossed the line?

Algorithm trading is anathema to a healthy stock exchange

The fundamentals of a healthy stock exchange trading system are all about fair trading, equal opportunities, level playing field and transparency. All relevant and price sensitive information must be disclosed at an appropriate time to ensure fair play. Otherwise it will be insider trading and a violation of the exchange by laws. Buyers and sellers are to submit their bids into the trading system in a transparent manner for all parties to know what is going on. Hiding bids, placing fictitious bids or acts to confuse or deceive other traders and investors are also forbidden and can be punished by the stock exchanges. In short, no one is supposed to have an advantage over other parties by virtue of financial power or technology. No even unfair access to sensitive information.

In algorithm trading, many of the fundamentals of stock trading and stock exchange by laws have been violated and breached. The practice of allowing funds or brokerages to plug their super computers into the exchange system is itself a violation of fair trading and level playing field. How could these funds and brokerages be allowed to have such an advantage over other traders that did not have such expensive facility/equipment and access to time sensitive information to their advantage? Many exchanges even facilitate the big funds to hide and conceal their intent and bids to buy or sell, creating a false market. Innocent traders could thus be deceived of the market depth and spread with such computer assisted trading process.

Algorithm trading also takes advantage of size and speed. It is incredulous for an exchange to allow algo traders with such an advantage of time, making profits in micro seconds, and think nothing about it. It is criminal for exchanges to allow algo traders to trade in big volumes to bulldoze and to corner stocks, to distort the real value of shares and the market.

Computer technology must be harnessed to facilitate and ease trading without creating an unfair and unlevel playing field. Algo trading cannot be allowed into any stock exchange trading system if it violates the by laws and trading rules and regulations. For a fair and equitable system, as the traditional stock market used to be, it is best that such a system is closed and no external computer system is allowed to tap into it to take advantage of other investors and traders. The justification of algo trading to facilitate huge trading volumes cannot be the reason to give it an unfair advantage to profit from the system. Big traders and volumes should be entered into the system in a transparent way, by human operators, with the same advantage and disadvantage of manual input.

The regulators and authorities of stock exchanges shall bear the responsibility to ensure a fair and equitable trading system for all parties, big and small. Failing to do so is to be an accomplice to a crime against the victims for unfair practices. It could also be seen as an approval to allow foul practices in the stock market.

Computer technology like algorithm has reached a point when it can be very dangerous and unfair to other traders, and also the ability to create havoc and serious glitches to a trading system. The official position of the New York Stock Exchange on the May 2010 freak crash of Dow Jones is that it was totally an act of the computers, a computer ran amok. The truth is more than meets the eyes, and there is likely to be a culprit that profited from the 5 min crash and making a pile for himself. Algo trading has no place in the proper operations of a stock market. It is there to cheat, to take advantage of innocent traders, it is unfair trading. Algos were not developed at a very high cost, with very expensive equipment and technology, for nothing. They are designed to make huge profits by relying on the power of hi speed computers. Someone must pay for it. The more expensive is the system, the more treacherous it is and the more it demands for payback.

Do not be deceived by algo or computer trading. Like big foreign funds and hot money, they are not here to do charity. They have one common mission, to make as much money as they could, from the unwary and innocent lay people and traders. Algo trading is a Frankenstein in the stock market. For stock markets to survive and tradings to be healthy and fair, it must return to a close system where every human trader enters his bids the same way, in a transparent manner be it big or small amount. Allowing computers and algos to do the trading is a sure way to the demise of a stock market, a matter of when.