Is Brexit really that bad?

Before and after the Brits voted to leave the EU, you only hear one song, Britain leaving the EU is bad, all bad and nothing good. Britain and the Brits are going to suffer, short of telling them that they would repent, it was all fear mongering. Yes, the stock market took a $2 trillion hit after the result but mostly due to uncertainties than anything else.

What is so bad about a Brexit? And if it is so bad, why are the Brits asking for it? Are they nuts?

The answers could be culled from what Tharman said, '"The majority of the educated class voting to stay; the less educated to leave.  Those doing well in their jobs and incomes voting to stay; those who felt they've been losing out voted to leave.  Many more of the young voted to stay; old voting to leave."

And there is also the problem of the "weakening of trust and consensus in society, and of the centre in politics".

Quoting from the same article in Channel News Asia, Mr Tharman said, "the politics of the centre must stay connected to the challenges that ordinary people face - and address their need for jobs and security, and a balance in immigration that preserves a sense of identity.  Tackling this without turning inwards,and weakening jobs and society further, is the central challenge everywhere."

Immigration and jobs are of utmost importance to the Brits voting to get out. Then for those who wanted to remain are those that are benefiting from the status quo.  This is very similar to the situation in Singapore. Those that are benefiting from the PAP rule will not want to rock the boast, but those not having a fair share in the gravy train would want change.  And there is also the issue of the centre not doing enough to tackle the angst of the people over immigration, the weakening jobs and society.

The Brits have chosen uncertainty and change and hoping for the better.  And the portions of people wanting change against those wanting to stay were quite close but enough to tip the balance.  When would Singapore reach this point when those wanting change would tip the balance and go for it, to replace the PAP rule like the Brits did?

The exit from the EU presents a lot of opportunities to the Brits.  They have been world powers and a political maverick that was ahead of its time. The initiative to break away from the American camp to join AIIB was an ace scored by the British that changed the bigger picture of the world's financial structure.  What's next from Britain that would rock the world?

Would Britain join BRICS or form a new alliance with Russia and China where it could benefit more from the new associations than being burden by a basket of burdensome countries and failed economies? Looking from the positive side, there are many positive cards in the new British hands to play.  The EU is not what it was presumed and designed to be.  It is getting dysfunctional and Britain may lead more countries to want to quit the EU.  The subjugation of national interests to other nations' interests that did not really bring benefits to the country would not be acceptable.  Asean is facing the same problems.  What is good for one is not necessary good for the other.

Trust the Brits to take full advantage of their new status and identity to carve a new and better chapter in their story going forward.  There is no fear of change.  When the majority wants it, even a small majority, change will come and the old beneficiaries of the incumbent moribund system must make way.

Do not underestimate the wisdom and ingenuity of the Brits and think they are stupid.  They did not rule the world for nothing, definitely not because they were stupid.  The doomsayers think they are cleverer than the Brits. The Brits would prove to them  who are the real stupid ones in due course.

The most sought after profession in Sin seeing lesser applicants

Other than aspiring to become an instant millionaire minister, the next most highly sought after profession in Singapore must be a taxi driver. Singaporeans, regardless of educational level and work experience all wanted to be a taxi driver. The annual number of applicants is more than 9,000. They all want to be their own bosses and to drive around the most expensive city in the world, in a car that not many could afford anymore.  Driving taxis, other than being their own bosses also gives them the privilege of owning a car, the most highly priced car in the world.

I am wondering if it is good news or bad news to hear that the number of applicants to be taxi drivers have dropped from more than 9,000 annually to less than 8,000, a whooping 12% fall! Is it because they realized that this no other better option profession is not that attractive anymore? Is it that they have found better jobs after all the skills trainings and retraining? Or is it that they have found a job overseas, or that they gave up and retiring completely from the workforce?

What happened to this highly sought after job after the job of a minister? No, they are not giving up on this highly desired profession that all able Singaporeans aspired to be, wanting to be. They have other alternatives to drive cars other than driving a cab with a taxi sign on top of the car. Now they can drive Uber and Grab cars and still be their own bosses and driving around in the most expensive city in the world. Of course some may switch to drive bigger cars, oops, I mean buses operated by Europeans and with lower pay than driving local buses. Lower pay is ok as long as it is European.

While on this matter, how many womenfolk or young girls would dare to take a ride from strangers when they offer them a lift home? No, cannot take a ride from strangers? Don’t bet on it, with Uber and Grab, our ladies, young girls will simply hop into any car driven by a total stranger and feeling very safe.

This is the mentality of Singaporeans because Singapore is a very safe place and taking a lift from a total stranger is absolutely safe. There is absolutely no risk, just like importing 2m foreigners without any risk. We have Total Defence and SGSecure  and our men in blue to protect them and keep the island safe. Nothing to worry about.

Whither The Gloom and Doom for Post-Brexit UK?

By MIKOspace

Conventional wisdom failed; and the proverbial perfect storm brews in the financial market teacups. The globalscape of economic and trade is beginning to shift, gradually and forever.    

And so the United Kingdom (UK) begins her lone, political and largely psychological, journey out of Europe through a Brexit referendum vote of 52%-48% on Thursday, 23 June 2016, in favour to leave the European Union (EU); which, truth be told, the UK has never been wholly integrated into.  

Gone are the grandiose, delusional and oft-times, nightmarish, dreams of European unity originated in the 15th century and which gathered momentum at the end of the 2nd World War.  In 1972, the UK eventually joined the European Economic Community (EEC) by becoming part of the 1957 Treaty of Rome which established the EEC with the goal of a free trade area with a common tariff.  After a series of related and developmental Treaties, the European Union was formed out of most members of the EEC in 2009. 

The initial gloom and doom predictions for UK in the wake of the Brexit vote are largely misconceived and the doom pundits ignore the fact that the UK has been very much a “reluctant” (EEC and) EU member who was courted with special terms and conditions to become “more European”. 

The UK was allowed to keep her own currency, the British Pound, instead of merging it with the common European currency, the Euro. The British Pound therefore enjoys an independent exchange rate with the EU as well as other trading partners without being unduly impacted by the economic policy vagaries of many EC countries eg. France, Germany, Greece, Italy … etc.  EU currency and financial regulations have no effect on the UK’s own independent policies and measures.  

The ensuing financial markets volatility lacks compelling fundamental causes and makes very little logical sense since the Brexit votes did not change any factors affecting the volumes of trade, which is governed by contracts, and short-term investments, whose prospects and profitability are not suddenly impacted by the votes.  Yet, the British Pound lost 8% against the US Dollar within just 40 hours, as financial players shed sterling pound (why?) for the US greenback (seriously?). 

Never mind the simple economic truths: That 44% of UK exports goes to the EU, and which also accounts for 53% of UK imports. UK exports to the EU sustain about 10% of the UK workforce (about 3 million workers).  In contrast, EU exports to the UK provide more than 8 millions EU jobs.  Economists should also know that these would not change significantly in the coming years to justify the drastic shifts in the currency exchange rates that the market players have incited and instigated.

UK-EU trade is expected to continue and even improve since the UK is a major key export destination of many EU countries. Post-Brexit UK may face some new rules with some EU countries but these are likely to be mitigated by their legacy mutuality of benefits.  

We see once again the stroking of fears by short-term profiteers and speculators.  The explosion of fears and greed for speculative profits exaggerate and inject unfounded and imagined uncertainties to create profiteering opportunities for the smarter market players by fueling short-selling as they await the long-game victories that begin immediate in the next and following weeks.

The administration of UK laws is also not governed by EC legislation, legal systems and jurisdiction.  For example, the European Court of Justice has no power over British Courts of Law. 

The UK enjoys many exemptions from EU rules which must be complied by other EU members.  For example, EU passports have to be produced when entering the UK; unlike the convenience of free travel without need to show EU passports when entering other EU countries.

EU annual membership fee costs the UK 12.9 Billion British Pounds (after the rebates agreed in 1984 from the full UK 17.8 Billion British Pounds).  This includes UK contributions to other EU Institutions.  British farmers, researchers and other beneficiaries received back about UK 6 Billion British Pounds.

What the pundits of Brexit gloom and doom did not want the rest of us to know is that the UK would save at least 350 Million British Pounds per Week in annual membership fee once the UK is out of the EU. 

It is also estimated that compliance with the massive 170,000 pages of the Top 100 EU rules, directives and regulations cost UK businesses an annual 33.3 Billion British Pounds.

The UK is the top recipient of Fixed Direct Investments (FDI) among the EU countries.  In turn, she is also a major FDI contributor to many EU countries. Its proximity to the EU remains a core competitive advantage, which is further enhanced by her relative political and security stability as compared with other EU countries. Most of her other major investment partners are however not from the EU.  

The truth is the EU needs the UK much more in many ways beyond financial contributions. Post-Brexit EU is clearly much poorer financially and materially, as well as much weaker structurally with lesser strategic resources in terms of global leadership influence and prestige.  The EU exit terms for a Post-Brexit UK are therefore expected to be quite favourable for the UK.

There is no rational basis for any gloom and doom predictions for the future of a Post-Brexit UK. Market volatility following the Brexit vote is man-made, and the more powerful men (and women) in the financial markets have a greater hand in provoking and fomenting it.

Post-Brexit UK is finally freed of EU ideological, economic and political shackles to pursue her own destiny and dreams.  It is timely for the UK to reverse its 1968 “East of Suez” decision to retreat from its imperial power bases from the Gulf to the Far East, and replace it with an updated non-imperial engagement plan with equal partners in the British Commonwealth that focus on all the common issues of global concerns.

   

Like a Japanese “ronin” samurai without a “master”-brand to associate and anchor her affiliation, post-Brexit UK as a major political and economic player must now roam the world stage in search of a “uniquely significant and influential” global platform to re-define and re-calibrate her relationships with the global community in all the emergent issues of trade, economics, terrorism, security, immigration, climate change and sustainable development.

The challenges and prospects of a post-Brexit UK will portend well for ASEAN in a new dawn for old relations.  

Related: Post-Brexit UK – Dawn of a New Global Order

BREXIT And EU EXODUS For A Better And More Peaceful World

European countries affiliated to EU better run - run away from EU as quickly as possible. EU is an American racket conceived with evil intent and it is under the complete dictatorial charge of USA 's Neoconservatives and their proxies in EU. Washington's neoconservatives in the Whitehouse, CIA, and Pentagon and the Anglo American Rothschilds, Illuminati, Zionist Axis are the real power behind EU.

The Evil Axis enacts all the EU laws and takes command of all decisions to suit its imperial agenda and the various local governments of the 28 affiliated countries have no say whatsoever. The Axis hijack all the political, economic and military power of the EU countries

USA treats the Russians and the Chinese as its enemies because they are the main obstacles to unchallenged USA global dominance.USA conducts provocative military build up close to the borders of Russia and China. This may lead to inevitable confrontation thus risking a possible nuclear war. For this responsible world leaders in Europe, Asia, Africa and South America must show serious concern not to ally with the Evil Empire's catastrophic imperial agenda. They should reject USA's imperial agenda which is the greatest threat to world peace.

USA thinks now is the time to destroy Russia and China in order to fulfill its ambition of bringing the whole world under its total control - its hegemony

But USA is bankrupt and so it has to create so called allies and partners to share the cost of its reckless wild ventures of wars of aggression.These allies and partners are nothing but subservient lackeys with voidess power and decisions.They are being led by the nose by the Evil Axis and may realise too late that they are being led to the slaughter house in the frontline in confrontation with Russia and China.

The Evil Empire is very cool and calculative and manipulates all hostilities and wars far away from USA's shores.The evil neoconservative warmongers think America is safe and well protected by two big oceans.In fact USA is governed by a few selected rich aristocrats and business tycoons in the Axis who only think in terms of making endless profits by the billions and thrillions of dollars through unconscionable perennial warfare. While they reap endless profits from warfare, their citizens and soldiers have to pay the price of suffering and death.

British people are smart to realise the danger of staying as part of the EU. Their decision to leave the EU sets the pace and example for others to leave the sinister organisation. Other Eu countries must quickly conduct national referendums to leave EU to save themselves from a nuclear Third World War that the Evil Empire may recklessly unleash on this world.

Southernglory1

Monday, 27th June, 2016

 

China would soon have to act against Indonesia

Indonesia is thumping its chest after shooting at Chinese fishing boats and arresting one. So far Indonesia has arrested quite a number of Chinese fishing boats and those of other Asean states and acting very smug. This is the same situation as the 1962 Sino Indian border war when the Indians were thumping their chests after the early initiatives in attacking China’s border guards. The early victories gave the Indian Army a false sense of grandeur and confidence and prepared for a major onslaught with a 4^th Army Corp getting into position for an open war. When China mounted a counter attack, it dealt the Indians a shocking and embarrassing defeat that the Indian soldiers simply dropped their weapons and fled. The PLA just marched into India only to pull back when it had attained its objective of returning to a status quo, driving the Indian Army back to where they belonged.

China has not taken any military action yet since the Indonesian shooting incident. This is like the Ip Man movie when he was challenged to a fight in his house. He kept defending without attacking and the opponent got more aggressive, breaking down many of his furniture. Then he was told by his little son that his wife told him that if he still refused to strike back, more furniture would be broken. Only then that he hit back and threw the opponent out in another embarrassing defeat.

If China does not hit back, not only Indonesia would get more aggressive, the Philippines and the Malaysians would think they could do the same as China is really weak and not able to hit back. I have left out the Vietnamese as the latter had a taste of what it would be like trying to take on the PLAN. This is reported in Yahoo News.

‘

There have been two armed conflicts between China and Vietnam in the sea.

In 1974, a clash erupted between the South Vietnamese navy and Chinese forces that left about 50 Vietnamese troops dead.

The other major conflict occurred when Vietnam and China fought a naval battle on Johnson Reef in the Spratlys in 1988 that killed about 70 Vietnamese military personnel.’

The Vietnamese have learnt their lesson and would not be crazy to challenge the PLAN again. But for Indonesia, the Philippines and the Malaysians, these twits have not learnt any lessons yet and with the Americans behind their backs, they really think that China would not hit back.

Just wait. China is even prepared to take on the USA and taking on these twits is chicken feat. China is just tolerating their silly chest thumpings for the time being. It is only when before China kick asses.