3 May at Fullerton Square, Lee Hsien Loong apologised to the people on behalf of the govt. It was an ominous gesture for the PAP. The GE saw the defeat of a key minister and the lost of a GRC. George Yeo had seen it coming. He related an incident to Hsien Loong of a voter telling him he was going to vote opposition a couple of days earlier.
The aftermath of the GE saw the stripping of 3 ministers from their posts and the stepping down of LKY and Goh Chok Tong. Since then, the PAP must have taken George Yeo’s advice seriously to reflect on themselves and their policies. And it has been on the defence, retreating all the way from their arrogant and I know best ways.
Many policies were revamped and the kpkbs of the people were taken heed. Yes, the PAP is taking very seriously the noises made by the people. The callous and bullying housing policies were dumped with a new minister in Boon Wan taking charge. He is not dictating to the people to live by his terms like his predecessor, but going all out to build more flats to meet the needs of the people, to restrain the rising property prices, telling the applicants not to screw themselves up by blindly applying for a flat with anyone in a hurry.
Measures were taken to slow the pace of immigrations even after LKY had said that another 900,000 foreign workers were needed. The MOM has come out with new regulations to limit a free flow of foreigners like TGIF. In a way Hsien Loong was arresting the fears of young Singaporeans losing out in the job market to hungrier FTs.
The cries for more university places were also heard and more places will be squeezed out for Singaporeans, with the intake of foreign students frozen at the current level. Yes, he is saying Singaporean First and doing it.
The new media is not giving up with their attacks and demands for a more Singaporean centric govt and policies. The new media was tolerated and permitted to carry on as usual, with bigger space to air their views.
The issuing of 4 COEs to presidential hopefuls is unthinkable and unprecedented. With all the discretion in the hands of the govt, it could easily tighten the screw and push through its endorsed candidate in a walkover by rejecting the other candidates. It was a huge concession, a huge step backwards, to appease the anger of the people.
Shanmugam, the elite and top notched lawyer minister was lambasted and had to beat a retreat from his interpretations of what a EP can or cannot do. Any minister or MP trying to make clever talks were not spared and were hammered relentlessly, including presidential hopeful Tony Tan, once a PM potential. The other once arrogant ministers were no where to been seen, probably trying to live by the new mantra that they are the servants and not the lords of the people.
The retreat by the PAP under Hsien Loong’s leadership is not in disarray. It is a measured retreat, taking a stand here and there not to concede too much ground. All the concessions were in response to the feedbacks from the people, primarily from the new media. The govt may not admit it officially, but there is a big battle going on with the govt taking stock of its positions and responding with changes in its policies.
Hsien Loong is leading the govt with a completely new style from his predecessors. Could he do otherwise if he is going to regain the confidence and trust of the people, and to extend PAP’s rule into the future? Another big concession is waiting to be served, the slashing of ministerial salary, including that of the ceremonial President. How much and how far will Hsien Loong be able to engage the people while on the defensive is still unfolding. The day is young.
8/17/2011
8/16/2011
mysingaporenews a heavyweight blog
Many bloggers have complained that the speed of this blog is getting too slow. Often it gets stuck or frozen and causing a lot of frustration to users. My apologies. The service provider of this blog is Bloggers and if it is a system fault only Blogger can answer for it.
My feeling is that this blog is becoming a heavyweight, getting too heavy, and unable to move quickly. Now, is this a good sign or a bad sign. Some say good, only heavyweight blog will encounter such problems. Lightweight blogs will be speeding along quite happily with lower traffic, like a free flowing expressway.
I think Firefox is still crusing quite well. Some have suggested Explorer Chrome. I hope it is not due to the generosity of some parties who happily shared introduced some bugs or cookies into the blog. I have removed some pages and links to make it lighter.
For the time being, let's pretend that it is a heavyweight blog and getting too much unwelcome attention: )
My feeling is that this blog is becoming a heavyweight, getting too heavy, and unable to move quickly. Now, is this a good sign or a bad sign. Some say good, only heavyweight blog will encounter such problems. Lightweight blogs will be speeding along quite happily with lower traffic, like a free flowing expressway.
I think Firefox is still crusing quite well. Some have suggested Explorer Chrome. I hope it is not due to the generosity of some parties who happily shared introduced some bugs or cookies into the blog. I have removed some pages and links to make it lighter.
For the time being, let's pretend that it is a heavyweight blog and getting too much unwelcome attention: )
Shanmugam is right
In a way, Shanmugam is right in telling the Singaporeans to vote for the President as spelt out by the Constitution and not the President they wished to have. What else can the Singaporeans do? For this presidential election, Singaporeans have no choice. It is written in the Constitution and Singaporeans going to the polls cannot act other wise.
Singaporeans who want to vote for the Office of the President with powers and duties they wished the President would have would have to wait till the next GE. Only in a GE will Singaporeans have a choice to decide what kind of EP they want. And if they are serious of wanting their kind of President, they will need to vote in a different political party to Parliament and with a 2/3 majority. Only then can they change the terms of reference of the EP, even all the criteria of eligibility for the presidential candidates. They can even disband the Presidential Election Council.
Yes, they can do that only if a new party comes into power with a 2/3 majority in 2016. For the time being, everything is fixed. Cannot change except to elect one of the Tans. There is nothing else that Singaporeans can do now.
Singaporeans who want to vote for the Office of the President with powers and duties they wished the President would have would have to wait till the next GE. Only in a GE will Singaporeans have a choice to decide what kind of EP they want. And if they are serious of wanting their kind of President, they will need to vote in a different political party to Parliament and with a 2/3 majority. Only then can they change the terms of reference of the EP, even all the criteria of eligibility for the presidential candidates. They can even disband the Presidential Election Council.
Yes, they can do that only if a new party comes into power with a 2/3 majority in 2016. For the time being, everything is fixed. Cannot change except to elect one of the Tans. There is nothing else that Singaporeans can do now.
Questionable numbers
Two sets of numbers in Hsien Loong’s speech don’t really make sense. The first is the number of university places from 9,000 to 12,000 in a decade, from 2001 to 2011. By now every Singaporean should be familiar with the increase in population from 3m to the present 5m plus, or almost a doubling of the population in the last decade or so. The problem is so glaring that our super talents even failed to see and failed to provide for it. Go figure it out.
With such a huge increase in population and the provision of 18% of university places for foreign students, the total increase in places is only 3000 when the population gone up by nearly 3m. Maybe the number is too big and too fast that it is very difficult to grasp even for the most talented.
The other numbers, income ceiling for BTO flats from $8k to $10k and $10K to $12k for Exec condominiums. Superficially looks like a big relaxation. It was reported in the Today paper yesterday that a young couple whose combined income was $11k were feeling lucky. So happy, now qualifies to buy EC. Really?
In the past, when one registered to buy a HDB flat, they used your income from the date of registration. I was told that today, they used the income when one is offered the flat. (Correct me if I am wrong). Get the idea? This is one of the sick causes of why many young people got kicked out of the system when they could not get a flat within a few years.
Would the $11k couple still be qualified in 3 or 4 years time when the flat is built? For such mid level professionals, a couple of thousands of increment over a 3/4 year period is common. And there are two of them. It is quite possible that one year after registering they could see themselves disqualified with income exceeding the $12k.
Such situation will affect many in the $8k to $10k group who are eligible for BTO as well. It will affect the singles as well. So, is the increase/solution really effective, or will it help the singles and young couples or all the flat applicants?
With such a huge increase in population and the provision of 18% of university places for foreign students, the total increase in places is only 3000 when the population gone up by nearly 3m. Maybe the number is too big and too fast that it is very difficult to grasp even for the most talented.
The other numbers, income ceiling for BTO flats from $8k to $10k and $10K to $12k for Exec condominiums. Superficially looks like a big relaxation. It was reported in the Today paper yesterday that a young couple whose combined income was $11k were feeling lucky. So happy, now qualifies to buy EC. Really?
In the past, when one registered to buy a HDB flat, they used your income from the date of registration. I was told that today, they used the income when one is offered the flat. (Correct me if I am wrong). Get the idea? This is one of the sick causes of why many young people got kicked out of the system when they could not get a flat within a few years.
Would the $11k couple still be qualified in 3 or 4 years time when the flat is built? For such mid level professionals, a couple of thousands of increment over a 3/4 year period is common. And there are two of them. It is quite possible that one year after registering they could see themselves disqualified with income exceeding the $12k.
Such situation will affect many in the $8k to $10k group who are eligible for BTO as well. It will affect the singles as well. So, is the increase/solution really effective, or will it help the singles and young couples or all the flat applicants?
8/15/2011
A time to stop contributing to Medisave
As long as one is employed, one continues to contribute to CPFMedisave for as long as one is alive. For self employed, they will have to continue contributing to Medisave even at 100 years or more under the present rules. What is the logic of contributing endlessly when CPF savings can be withdrawn progressively after 55?
The other point is the bottomless limit of Medisave Minimum Sum to be retained, increasing annually. There is a point in life when living is a matter of diminishing returns. There is a point in life when there is no point to perpetuate life when the cost of keeping one alive is unsustainable and for no benefits. When one has lived to a ripe old age, when the legs and hands no longer move, or could barely move, when the body no longer feels, when keeping the body alive is so expensive, living or being alive is suffering, what is the point of having a lot of money in the Medisave when in such a state?
For the rich, when money is not an issue, it is ok. To many, when money is a big issue, it is not ok. Should the govt pass legislation to hold back the people’s savings after 75, 80 or more, so that the money can be used for expensive medical bills while the owner of the money could no longer enjoy even simple food, see nor hear?
There must be a point in time when money is no longer useful, when being kept alive is meaningless. Money is useful when one can still enjoy them, having a good meal, a drink, or moving around, still able to feel the senses.
The legislation must be changed to stop CPF from taking the people’s money after a certain age. A self employed person at 60 is in a much better financial position than one that is unemployed and drawing down on his CPF savings. When one is eligible to withdraw the CPF savings, that should be the age for those who are still economically active to be spared the burden of contributing to Medisave. Their incomes are more valuable when they are young, (not counting wasteful inflation) than when they are no longer physically able.
Savings for Medisave after the CPF withdrawal age must be voluntary. After 55/62, CPF or Medisave contribution must no longer be compulsory but voluntary. Otherwise it is like extorting the old folks, to withhold their money to fatten the nation’s reserves, and which they are unlikely to use them. It is another way of robbing them to pay the hospitals, against their wish when they are mentally unable to decide for themselves.
After certain age, the people must have the right to decide if they want to waste their money to pay the expensive hospital bills. Maybe some are hoping that once the oldies hit dementia, unsound mind, let other people decide on how to spend their huge savings in the Medisave.
It is time the govt review the CPF/Medisave Contributions for the old folks. Stop bullying them and taking their money against their wills.
The other point is the bottomless limit of Medisave Minimum Sum to be retained, increasing annually. There is a point in life when living is a matter of diminishing returns. There is a point in life when there is no point to perpetuate life when the cost of keeping one alive is unsustainable and for no benefits. When one has lived to a ripe old age, when the legs and hands no longer move, or could barely move, when the body no longer feels, when keeping the body alive is so expensive, living or being alive is suffering, what is the point of having a lot of money in the Medisave when in such a state?
For the rich, when money is not an issue, it is ok. To many, when money is a big issue, it is not ok. Should the govt pass legislation to hold back the people’s savings after 75, 80 or more, so that the money can be used for expensive medical bills while the owner of the money could no longer enjoy even simple food, see nor hear?
There must be a point in time when money is no longer useful, when being kept alive is meaningless. Money is useful when one can still enjoy them, having a good meal, a drink, or moving around, still able to feel the senses.
The legislation must be changed to stop CPF from taking the people’s money after a certain age. A self employed person at 60 is in a much better financial position than one that is unemployed and drawing down on his CPF savings. When one is eligible to withdraw the CPF savings, that should be the age for those who are still economically active to be spared the burden of contributing to Medisave. Their incomes are more valuable when they are young, (not counting wasteful inflation) than when they are no longer physically able.
Savings for Medisave after the CPF withdrawal age must be voluntary. After 55/62, CPF or Medisave contribution must no longer be compulsory but voluntary. Otherwise it is like extorting the old folks, to withhold their money to fatten the nation’s reserves, and which they are unlikely to use them. It is another way of robbing them to pay the hospitals, against their wish when they are mentally unable to decide for themselves.
After certain age, the people must have the right to decide if they want to waste their money to pay the expensive hospital bills. Maybe some are hoping that once the oldies hit dementia, unsound mind, let other people decide on how to spend their huge savings in the Medisave.
It is time the govt review the CPF/Medisave Contributions for the old folks. Stop bullying them and taking their money against their wills.
Financial crisis hitting stock markets
MAS is getting more clouts to deal with errant pushers of toxic products. This sounds like a good thing. What MAS needs to do is to be more proactive and look at the whole financial system as well, especially how stock markets are run around the world, and how dangerous products and systems are allowed to get into the stock market system to run riots and exploited the weaknesses of the system to prey on the small investors.
The exploding financial crisis in the US and Europe is affecting not only toxic products but also the stock market mechanism and processes. The plunge in Dow and Europe market had caused panic and the immediate response by the European govts is to curtail short selling. The damage that short selling could cause, and how this mechanism can be easily abused need no further explanation.
Short selling and many other new devices and systems have been introduced into the stock markets world wide, including high speed trading, derivatives, dark pools, programme tradings, etc that violate the principles of stock trading. The very basis for funds to employ these new gadgetry and systems works against how a stock market should behave. In the long run they will devour everything and lead to a loss of confidence in stock trading and even the destruction of this industry.
They also violated the sacred principles of level playing field and transparency. If stock markets allowed such principles to be transgressed with impunity and explaining them to be part and parcel of modern stock trading, there is a very high possibility that the stock markets would go the way of toxic notes and bonds. They could inflict more severe damages and consequences than just toxic products. The industry could collapse and many people, other than losing their investments, could also lose their jobs.
Eventually the blame will fall back to authority/regulators for allowing all the infringements of good market practices, principles and rules and regulations to be breached and not doing anything to prevent them. When it became another crisis like the minibonds, it will be disastrous and the authority cannot run away from this responsibility by claiming investors went in with eyes wide open. The authority has the responsibility to provide a fair system and level playing field. That is the basic principle and also the rationale for the existence of a regulatory body. The people trust that the stock market are there to provide a level playing field and MAS is there to see to it. Caveat emptor is not acceptable when a system is allowed to operate with unfair advantages to the big funds.
If ever the stock market collapses, someone will have to answer for it. The key questions will be whether there is a level playing field and whether the new trading platform provided the funds with an unfair advantage over the small investors.
Post election Rally
It was a National Day Rally, but the tone of the Rally could be more a result of post election effect. Several key policy positions that were stubbornly held previously were dismissed to history. And the citizens must thank the result of the last GE for such changes to take place. Prior to the GE, several policies were still zealously guarded as the key foundations for growth and development of this ‘work in progress’ nation that is unlikely to become a nation for a long time to come. Many things that were built in the past were allowed to go to waste to accommodate a larger influx of foreign talents to dilute the core values, social behavior and the privileged positions of citizens.
This post election Rally is seeing some changes. Income ceilings to purchase the unaffordable affordable public flats have finally been raised to the displeasure of some. Without the GE, the ceilings will still be unshakable, necessary and the right things to keep.
The influx of foreigners is said to be slowing down. Let’s wait to see some statistics as the official policy is that they are still indispensable to our economic growth. The numbers will tell whether there has been a slow down and how significant is the slow down. Hopefully it is not just cosmetics.
Tertiary education for Singaporeans is seeing some changes in increasing future intakes. But foreign student intake will remain though the percentage is smaller with a bigger base. They should follow the British system, foreign students pay the full fees to subsidise the locals who pay substantially lower than what the former pay. With such a policy, we can afford to build another one or two universities and increase the percentage of foreign students even to 50% and no locals will be complaining.
There was no mention of past students that were disadvantaged by the old policies and had no choice but to go abroad, and with their parents selling their homes to pay for their expensive foreign university education. Neither were anything mentioned about those young people who were forced out of public housing by the old policies and left in the lurch. Whatever was done was over. For university education, there is nothing that can be done for those who already spent their time and money overseas. For housing, many are still left hanging in the air, income exceeded because of not building enough and low income ceilings. Would the govt make amends to accommodate those victims of past policies?
Special education and healthcare also see some changes with more budget or subsidies allocated to these areas. With the growing cost of healthcare, subsidies and help may go some way but only temporary if the runaway cost is not contain, like property prices. Contain and reduce the high cost and no help will be needed.
Maybe another 10% swing in popular votes in the next GE could see more substantial changes to benefit the people. The people must be looking forward to more GEs.
Subscribe to:
Comments (Atom)