A piece of RAR Art - untitled

A series of RAR Art with primary colours in red, white and black. A painting by Mother Nature.

911 Revisited - The truth by Emeritus Professor Morgan Reynolds

Are you ready for the truth? Or have you been sold a fabricated truth by the American Administration? Listen to this Sunday sermon and be your own judge. Don't let anyone plant any 'truth' in your head.

Morgan O. Reynolds was a professor emeritus at Texas A&M University and former director of the Criminal Justice Center at the National Center for Policy Analysis headquartered in Dallas, TX.
He served as chief economist for the United States Department of Labor during 2001--2002, George W. Bush's first term. In 2005, he gained public attention as the first prominent government official to publicly claim that 9/11 was an inside job, and is a member of Scholars for 9/11 Truth

Reminiscence of the good old days

Just a generation ago, the 70s and 80s, which was not too long ago, the average citizens were not rich and so was the country. I am not looking at the 60s as those were the formative years of our nation, rough and tough and life was very basic.

In the 70s and 80s, though the average income was not that great, when the average white collar worker took great pride in earning a four figure salary, below $2000, life could be good. With that income, many could lead quite a decent lifestyle, own a car and a 3 or 4rm flat. Those with double income could afford landed properties, semi Ds, at worst 5rm HDB flats. And they had very little financial worry as debt to income ratio was small.

We progressed, the country progressed, bigger and better housing, better quality of life till the 90s. Today we are still progressing and people are getting richer in their income, 5 figure salaries or more, and some are getting extremely rich. But the signs of strain and pressure are showing among the average Singaporeans. Many are high in debt because of mortgages and housing loans and study loans for their children. And the axe over their heads, a big medical bill waiting to drop on them. Superficially, things are still looking very good.

The question is whether this life style and the cost of living are sustainable? Are the lives of the average people getting better or going down? The salaries are much bigger, the quality of housing are better, but people are starting to buy into smaller and smaller homes. Car ownership is getting to be extremely expensive. Quietly the govt is starting to sell the message that life without a car is good. Smaller flat is good.

Should not progress comes along with better quality of everything, that the higher income should be better, bigger housing and easier to own cars and better cars, and lesser financial worries? The growth formula for the country looks right, but the quality of life formula for the average Singaporeans is starting to look wrong.

Could the rapid growth be slower, smaller population, lower cost and better quality housing and easier car ownership be part of the growth formula instead? Can the economic growth formula be tweaked to enable the average Singaporeans to live in bigger and better housing, with smaller debt and many more be able to own their cars and with less financial worries about bring up children and making ends meet? With so much growth to show, so much wealth in display, with so much good things in the offering, why are people finding it difficult to give themselves better homes and to be able to travel in the comfort of their own cars? Aren’t these good things a part of progress and contribute to the well being of the people? Good homes and cars are the things that the people desire and aspire for. Depriving them of good homes and car ownership cannot be progress, cannot be a better thing.

Have the growth formula with unacceptable large population on limited land over extended itself and the flaws starting to show, and the benefits become marginal if not negative? What is the point of growth when the good things in life are no longer available or in smaller portion? And the mantra is still to pursue blindly for more people in the island. Can the policy makers really believe that this is the only way forward, progress and a better quality of life?

Robbing the young rich to pay the old poor

The legend of Robin Hood and how he robbed the rich to pay the poor and always fighting against the Sheriff of Nottingham who only knew how to protect the rich, was a favourite and must read comics of our generation. I don’t think the Y generation onwards bother with such wholesome righteousness. But the Govt still does, as many of them were of my generation or close to it. They are brought up with the same righteousness, of robbing the rich to pay the poor, not robbing to pay themselves for sure.

Housing is still a big pain to many Singaporeans, and the right to buy a public flat from the Govt is like striking lottery to some, or a big savings to many. Every Singaporean given the opportunity will want to buy directly from the Govt to save a few hundred thousand bucks of their hard earned money. With a monopolistic public housing scheme, the Govt knows how vital its role is and how they could make life easier or meaner to the Singaporean home buyers. By tweaking the demand and supply, by formulating rules and regulations, some will be cut out from the public housing schemes and be left at the mercy of the free market and the private property developers.

Many groups of Singaporeans have been deprived from the public housing scheme while the ‘Ginny come lately’ new citizens were graciously allowed to buy public housing freely. One of the groups that have been deprived from public housing is the young high income earners, ie those earning above $12,000. To the Govt and to many Singaporeans, this group is very rich and must not be allowed to buy public housing. So the Govt has in place an income ceiling to keep these rich young people from public housing.

What the Govt has done is like what Robin Hood had done in the past, robbing these rich young people to pay the poor. By not allowing them to buy direct from the Govt, these young people have no choice but to buy from the resale market or buy private properties. The effect is a transfer of their savings to those who are selling their public housing in the resale market. The difference in price can be a few hundred thousand dollars. Effectively the Govt is forcing these young people to hand their money to the HDB owners who bought their flats direct from HDB. This must be a well thought out scheme of the Govt, to ensure a fairer distribution of wealth among the average Singaporeans. The young and abler Singaporeans must share their wealth with the less able and older Singaporeans. Who can fault such a benevolent design?

If these young people refuse to share their savings with the HDB dwellers, they can share them with the private property developers and pay even more. In the latter case it will not be robbing the rich to pay the poor. It will be robbing the not so rich young people to pay the rich developers and rich speculators.

Whatever way you look at it, it is a good thing. The young people have the money and it is only right that they should share their hard earned money with those who are less able. Not sure if one agrees that they should share with the rich developers and speculators. The Govt is doing a righteous thing, a moral thing, a good thing, like modern day Robin Hood. We have a very caring Govt that cares for the poor.

The Govt should not remove the ceiling, for by doing so they would not be able to rob the young rich to pay the poor old. The moral of the story is that it is ok to rob the rich and pay the poor. But don’t touch the super rich. Their wealth must be protected at all cost and to grow and grow. Make the young rich buy properties from the super rich, who incidentally, many have bought many properties and waiting for the young rich to hand over their hard earned money for them. We have a good system in place. Don’t rock the boat. Be thankful and be grateful.

PS. I wrote this piece with my eyes wide shut.

In celebration of foreign tycoons

There were many headline news of the increasing numbers of foreign tycoons making Sin City their homes. These are the genuinely super talents that have made it good in life in their own ways and are filled with money and riches, and life was meant for living and pleasure. They are here for the right or wrong reasons but one thing for sure, they will not be here to take away plum jobs from Singaporeans. The only unsavoury sin they could commit would be the buying of a few ethereal priced properties. But this would not have too much negative impact on the general populace as their numbers, and the sale of landed properties is limited by legislation and a thinking Govt, are small and remote, a world of their own. They could in their own ways contribute positively to the economy if that is what the Govt desires. I don’t think anyone has any issue on these tycoons.

What this group of tycoons will not do is to feast on the success of the country built over the last few decades. They would not be parachuted down from nowhere to take over top jobs and be paid millions when the jobs could have gone to the local talents. Many Singaporeans see this as a betrayal. I am still scratching my head as to the number of top jobs going to foreign talents and watching what they are doing and what a local could not do much better.

The paying of millions to foreign talents for positions that were created locally is something that will not be taken lightly by the aspiring local talents. The question is why, after building up this place, the credits and benefits ended up in the pockets of foreign paratroopers and mercenaries. This is not just a matter of envy. There must be many local talents that can fill these jobs or be groomed to take over these jobs. I would faint if, after building up a banking empire like UOB, the top job ended up with a foreigner because no local is deemed good enough. It is plain silly to do so, all the hard works of several generations in building a business empire only to see someone coming from no where to reap the rewards.  What has this foreigner contributed to the creation of wealth and the business to have the good fortune of being paid in the millions, delivered on a silver platter?

We should welcome the tycoons and their businesses and the jobs they created for the locals. Why should we welcome foreign talents who are here for the feast?