Mah Bow Tan, poor thing

The thread on Mah Bow Tan in TRE is getting quite a review of the wrong kind. It was about Mah Bow Tan’s interview by Sin Min on his stepping down as a minister. Mah Bow Tan said he had given his best years to public service and it was time to make way for a better man, in Khaw Boon Wan, to take over the MND ministry.
 
Why were the comments on Mah Bow Tan so negative? He had done extremely well during his tenure in Housing and Transport. The transportation problem was nothing with SMRT running smoothly and efficiently with the woman in charge, and chalking up millions in profits every year. There were hardly any breakdowns or disruptions of services. COE prices were quite low. Look at the price of COE now, $80K+. It would not have gone up so high if Mah Bow Tan is still in charge. And SMRT would not experience so many breakdowns.
 
And housing was anything but affordable. There were some complaints but overall housing prices were affordable compare to the prices now. And Khaw has to ramp up the building programmes to meet the unstoppable demands. Looks like Khaw is not doing much better.
 
And the truth is that he was still the man to anchor his Tampines GRC team to victory. This showed that he was any time better and more popular than George Yeo, and has good ground support.
 
The views in TRE are a distortion of the truth. If Khaw Boon Wan cannot bring down housing prices to more affordable levels, Mah Bow Tan could make a come back to do what he knew best, making housing prices affordable again. Since Khaw Boon Wan took over, there seemed to be so many housing problems when there was none. The daft Sinkies just do not know how to appreciate the great contributions of Mah Bow Tan and are simply ungrateful and disgraceful.
 
Poor thing.Hsien Loong should give him a public star in the next National Day.

Halimah Yacob has spoken – more drastic measures if…

 Halimah is the next most senior politician after Chuan Jin to have spoken about the need to hire Singaporeans instead of replacing them with rubbish foreigners. She is coaxing the employers to take note of the govt’s intent towards this new policy and to act or face more drastic measures coming their way. She also asked the NTUC to be the watchdog, to monitor the situation and to squeal on the recalcitrant employers.
 
These are the right things to say given the unforgiving mood of hurt Sinkies and their hurt pocket and pride. The anger is bursting and the noise of discontent is getting louder, thanks to the internet. You don’t hear such things in the main media. Maybe the other half of Sinkies of the main media genre are very happy and comfortable with the situation and thus do not know what the fuzz is all about. The people are all very happy getting rich. No problem at all.
 
Halimah is not exactly a minister to step into this fiasco to highlight the flaws in this foreign talent nonsense, at least she carries some weight. Are the rest of the ministers in agreement with Chuan Jin and Halimah to want to support this change? Relatively we have a new and junior minister in Chuan Jin and a Speaker of the House talking about the issue. What signal is the govt sending to the employers, that this is a serious or not really that serious issue? Is this just a wayang to appease the Sinkies and not to ruffle the feathers of the employers?
 
Halimah has missed out one big employer that she has all the muscle to exert some pressure to do the right thing. She can tell the civil service, stats board and of course the GLCs to make the first move. Reading the comments in TRE, she may want to start off with DBS. The govt can issue directives to support this policy. Failing to do so will be seen as NATO.
 
When is the govt going to do something concrete and not just talk only? Or would the govt really act on this?

Singapore about to introduce a ‘living tax’

It is still work in progress, but Hsien Loong had spoken about it at the National Day Rally and he has recently confirmed it during the Ask the PM live TV chat show. This ‘living tax’, where every living citizen will have to pay for being alive is going to be implemented very soon. Only the details have yet to be finalised. From what was said, from a baby to the oldies, everyone pays. It is a kind of tax from cradle to grave!

Oh, you have not heard about it. I am telling you now, it is not called a tax and not really a tax. It is called Medishield Life, just like the CPF Minimum Sum Schemes, they are also not called tax. To be exact, it is called Medishield Life Insurance Scheme for everyone, young and old, sick or healthy, no one will be missed. It is compulsory! It is as good as till death do we part. And very likely from the very moment when a child is born. I am waiting to hear the angels sing. One can choose to buy or not to buy an insurance policy. One can choose to adapt a healthy lifestyle to avoid being robbed by the medical professionals. This one there is no such option. Healthy or sick, you pay. If it is not a tax, what is it? You tell me.

The GST is a very regressive tax where the poor actually pay more as a percentage of their income. Even those without an income have to pay the GST as long as one has to consume goods and services. But compares to the Medishield Life, GST is nothing, or at least one can be selective and opt out. One can eat or consume less or not consuming at all to avoid paying GST. In the case of Medishield Life, there is no escape.

Now the little problem is what would the govt do to those who really cannot pay and do not have any minimum sum locked up in their CPF to be carved away? A legalised compulsory scheme imposing on the people to pay means that not paying is an offence. It must be. Hsien Loong has mentioned about peer pressure, making your neighbours or families or friends know that you did not pay your dues, a way of shaming one in public. Would the expertise of Ah Long runners be called upon for this? Would the full force of the law be applied, with policemen knocking at your door for not paying? The evil is in the details, so they say. Wait for the details. Many are so happy about this comprehensive ‘cover all’ insurance scheme and earnestly waiting for it to be implemented. So it must be a good thing.

Poor Sinkies are going to incur another unwarranted and unwanted cost of living expenses imposed on them by the caring and paternalistic govt. The govt is very foresighted and always been thinking of how to take good care of the people, and with the people paying for whatever schemes the govt can think of. It knows the people are over reliant on the govt.

The foreigners need not have to pay for this living tax for sure. The non citizens, not sure about the PRs, are not so lucky and will not be affected. And if PRs are affected, their children and dependents who are not PRs would definitely not be affected. Heheh, being citizens has its privileges, to pay another tax.

With such a comprehensive and all encompassing scheme that makes every living citizen pays, at $1k per citizen, it will be $3.3b added to the GDP I think. If PRs were to be added, that is another 540m annually. With an unthinking population over reliant on the govt to think and plan for them, it is so easy to generate this kind of money with very little effort but a stroke of the pen. There is no need to waste time and effort selling the product. It’s a done deal and a very lucrative one. A super extraordinary salesman and his super product, exceptional talent!

Would there be a political price to pay for this living tax?  Oops, I mean compulsory Medishield Life Insurance Scheme for all citizens, or is it for locals only? One thing for sure, the cost of living of the people, especially the lower income and the ‘no income’ will just become more unbearable or simply unbearable and unaffordable.

Thank God you are alive and have the good fortune and privilege to pay for this ‘living tax’. Is this a blessing or a curse?

2% or 3% GDP growth maybe about right for a mature economy

We are going to get this kind of growth rate for a while given the maturity of our economy. Many mature economies are going at the same rate unlike the emerging countries that are talking of 5 to 10% growth rate. We had a miracle of 15% in 2011 which could be the last flash in the pan.

What is not so comfortable is that the GDP growth is attained through high population growth, inflated housing prices, high rentals and high car prices, or at least these items contributed to a large extent to provide the growth numbers.

What would happen without the influx of more migrants, if property balloon gets deflated, if a more efficient COE system is implemented to replace this highly inefficient and loaded system? Where is the growth going to come from without high inflation?

Are our industries growing and chalking up decent numbers to give the GDP a positive number? Or are we running out of steam, running out of ideas and by hook or by crook we will need to inflate the economy, bring in more head counts, retain the COE to keep car prices high, keep housing prices high, keep medical cost high and higher? And yes, introduce Medishield Life to boost the GDP and whatever that needs to be boosted.

Without these highly inflated industries what would become of the economy? Is there a growth sector that can uplift the economy to show growth?

Dubai – Food for thought for material Singapore

‘So many myopic comments here. Myanmar is a far larger and more complex country than tiny Spore. And Myanmar should not adopt Spore’s style of meritocracy and penchant for material success.
 
A better comparison is Dubai which has emerged from the bleak landscape of the desert to be a vibrant financial and tourism place. Dubai is more than 95% managed and operated by foreigners and is thriving. They also have brilliant Emerati leadership and top class CEOs.
 
Singaporeans are a very unhappy lot. They do not appreciate the journey that Spore has taken since independence and Dubai imitated Spore initially but has over-taken Spore in many aspects.’
 
The above is a comment by a Webex in TRE. For a country like Singapore to be over taken by Dubai is nothing surprising. There was really not much growth in the island for many years if we take out the elements of influx of foreigners, the housing balloon, the ever increasing high rentals, the COEs and car prices and the high medical fees. These factors alone could have wiped out all the growth there was, or negative growth in their absence. How’s that?
 
But with the example of Dubai there is real hope. Singapore should imitate Dubai to over take Dubai with our brilliant leadership, at the moment second only to Dubai. What Singapore needs is to rely more on foreigners. 50% foreigners could only bring us 2-3% growth. Dubai is managed by 95% foreigners. If we follow Dubai, we could increase our growth by 4-6%, which is good. According to a banker Mak Weijie as quoted in the Today paper, ‘As long as the person is capable enough, it doesn’t matter what nationality he is.’ (My comment: Are you a citizen or a new citizen? We have a country, not a shop)
 
And what is 6.9m? Go for it, 95% foreigners, Singaporean core reduces to 5%, and we will be so much richer as a shop, oops, I mean a country. Our population could be what, 30m? Knn, what am I thinking?