1/26/2019

Housing prices in Singapore seriously unaffordable

"House prices in Singapore are considered “seriously unaffordable”, with a median multiple of 4.6, which means that the median house price is 4.6 times the city-state’s median household income, according to an annual survey...

Conducted by urban planning policy consultancy Demographia in Q3 2018, the 15th Annual Demographia International Housing Affordability Survey (2019) covered 309 cities in eight countries, including the United States, China (only Hong Kong), the United Kingdom, Australia, Singapore, Canada, Ireland and New Zealand....

The survey found that Hong Kong has the world’s least affordable home prices, with a median multiple of 20.9, up from last year’s 19.4. Vancouver came in second, while Sydney, Melbourne and San Jose came in third, fourth and fifth, respectively...."

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

When I read the article I was kinda, what, how could this be, who dared to make such a comment? For a moment I thought it was a local media. On double checking I was relieved that it was reported by Yahoo Online.  That made sense.

A report like this is as good as slapping our ministers for saying that housing prices are very affordable.  Ok, let me be very specific here, the ministers must be talking about public housing like HDB and it is a conscious govt policy to make public housing very affordable for Singaporeans, like having a $1,000 monthly income can also afford one. And for doing that the HDB is losing billions annually to subsidise the public housing for the people.

Surely the report must be talking about private properties and not about public housing. I think it is safe to make this assumption. If not, if the comparison is about public housing, then the govt would be very unhappy and someone would likely have to say sorry and explain and even correct this mistake. Singapore's public housing is so affordable.

Even if it is about private housing, I disagree with the survey findings. See, Hong Kong's median housing price, I don't know what this mean, is 20.9 times the median household income. 20 times, you believe it, and we are only 4.6 times! That means our housing is very cheap compares to Hong Kong. We have a lot of room to grow, for prices to go higher, at least 10 times, and still quite a distance from Hong Kong. We must compare apple with apple and Hong Kong is the most like us, so we should measure ourselves against Hong Kong. Thus 4.6 times is really very affordable, not seriously unaffordable. Agree or not?

In the same article there was a link to another article claiming that 88% of Singaporeans are very unahappy with the high property prices.  I think that must also be fake news or misinformation. How could it be? Singaporeans are the happiest lot, property owners, and the most supportive of the high property prices. They all stand to gain, to be paper millionaires, owning million dollar HDB flats with prices that can only go up and up.

The best proof that the report and linked article are fake news would be the result of the next GE. If the Singaporeans are unhappy, it could mean the end of the PAP. My take is that the PAP would continue to enjoy mass support with more than 75% majority votes.

You can disagree with me.

1/25/2019

Kidnapping of Meng Wanzhou is US terrorism. Canada must release Ms Meng immediately.

Canada  ambassador to US David MacNaughton pushed for earlier extradition of Huawei's CFO to US before the deadline 30th January, 2019, hoping to get Canada out of the awakward situation. He is sorely mistaken for China will not let Canada off the hook if it extradites Meng Wanzhou to US. On the contrary Canada will face even more severe backlash from China which will put bilateral ties in great danger.

The whole affair must be seen in geopolitical perspective. The white American Neo-Cons have stated clearly that America will not allow any other country to become as rich and powerful as the US. Now they look at a wealthy China with jaundiced eyes. Huawei a Chinese high tech company started its business in China in 1986 by Ren Zhengfei, a retired military engineer. He was able to build Huawei from scratch  in 1986 to present world status as a very successful global telephone and telecommunication company beating all western companies including US - Apple, Intel and ATT.

As they would not allow any Chinese company to outshine any of US companies to become Number One in the world so they have to manuafacture lies into reality about all the falsehoods and scams about Huawei being a threat to their security. Now under pressure from the rogue US, white men's countries like UK, Australia, New Zealand, Canada, France, Germany and Poland are conniving to take down Huawei. They are also trying to psycho other non-white countries not to use Huawei's products. Even the treacherous Japanese have  now sided with the Americans.

However the Evil Empire thinks that as Huawei is far ahead of all western countries including US in the development of 5G , being The Internet of All Things", so the best way to bring Huawei and China down is to kidnap Huawei's CFO under false charges base on illegal and illicit sanctions on Iran.

 To add insult insult to injury about 140 former ambassadors  and western academics in China's affairs have the effrontery to send a letter to Chinese leaders, calling for the release of two Canadians arrested in China.. This is direct intereference in China's internal affairs . This is outrageous and shows how arrogant these western countries still assume it can  impose extraterritoriality on China as had happened in the past during the Opium Wars 1839 -1856 to 1930s.

The Meng Wanzhou case is an assault on China's high- tech enterprise under the guise of law . It serves the US China strategy  which views China as a strategic rival.  It is clearly a geopolitical persecution. Here I quote Global Times, " Didn't those academics and former ambassadors realize how malicious Meng's case is and how much damage it will exert on the international business order?  Why didn't they appeal to the governments of the US and Canada to set Meng free?"
"Why are they silent as the US exploits its alliance system to suppress Huawei? Their letter to Chinese leaders only showcases the prejudice of the western elite and is valueless on moral grounds, We expect the awareness of the western world toward China to awaken."

The American sanctions on Iran are not international sanctions but US sanctions which are illicit and illegal as it is done in defiance to the United Nations Security Council article 2231. The Evil Empire being a rogue country has no qualms in breaking international laws or treaties if they serve its purposes.

US has set a dangerous precedent in kidnapping Miss Meng and unless Meng Wanzhou is released it will set a chain reaction for other victimised countries to start arresting or kidnapping US and its western allies senior business executives. China can arrest Sheldon Adelson the owner of many casinos in Macao and possibly the one who together with the despicable  anti-China Jew, John Bolton planned the kidnapping of Meng Wanzhou. Both Adelson and John Bolton have strong and loyal attachment to Israel and harbour a deep hatred for Iran which poses a firm obstruction to US and Israel conquest and domination of the whole Middle East.

Though America has formulated many international laws with the United Nations it has never sign any one of them as it arrogantly claimed that US will not be bound by any of these laws as US practices its ideology of Exceptionalism and Unilateralism . These international laws are created to hamstrung Russia and China's rights in Ukraine, Black Sea and the East China Sea and South China Sea respectively and to constrain China's peaceful development.

The Canadians kidnapping of Huawei's CFO at the behest of US turns them into political pawns and the wrecking of the brands of many American and Canadian exporters overnight. 

US pious claims about the "Rule of Law" is hypocritical and is not convincing as it is done selectively in its application. Many US firms and executives were cited for violating the Iran sanctions, yet none of them were convicted and sent to jail or even pay a heavy fine. What about the unpunished  crimes and violations of the Wall Street rogues and scoundrels which led to the 2008 financial crisis. What about the covered up of the murder of Jamal Khasoggi a US citizen which flagrantly violated US laws  All this pious claim about the Rule of Law is just American bullshitting.
The Canadian legal authorities must come to its senses and realize that the kidnapping of Miss Meng is politically motivated  and should set her free forthwith less it moves into dangerous grounds.

Canada has committed a grave mistake in supporting an extradition treaty with US for a hundred percent politically motivated crime. Canada should not support US terrorism. US is just taking advantage of Canada as it has always do the same with other weak countries. China has always been Canada's friend until the Huawei  event. It is not worth just for supporting US terrorism.

America always talks senselessly and arrogantly about its security at the expense of others security. It is time for the world to unite to take down the Evil Empire less it takes the world down with it on the road to Armaggedon

Southernglory1

Friday, 25th January, 2019



5G – The Hua Way or the American Way

The battle for supremacy in 5G technology is the hottest topic today with the American camp losing out by a mile and resorting to underhand tactics to cripple and ban Huawei from their markets. The 5 eye countries, ie US, UK, Canada, Australia and New Zealand are in cahoot in this unfair war with Huawei, China. Can you believe it, 5 big countries, one big country and 4 crony countries ganging up against a corporation and pressurizing other countries to do so? This is how serious this battle is for the control and dominance of 5G technology and infrastructure ruling the technology world. This has scared the shit out of the Americans and the 5 eye countries.
 

The thing is that Huawei’s 5G technology is real and many times superior to what the Americans, Nokia and Ericsson could offer. No tech company has yet to come near to Huawei’s 5G and they are hoping to catch up in a year or 2, or could be longer. And Huawei’s 5G is the lynch pin to many futuristic technologies that are being developed. Without Huawei’s 5G it is no go.
 

And 1 or 2 years is a very long time in this field of technology. It could mean make or break, it could mean being lagged behind and left behind in the Stone Age. No progressive country is going to miss a single day to jump into the 5G bandwagon and to shoot to outer space. Yes, every country that wants to run away and be ahead of others would seize on this golden opportunity and leave the 5 eye countries behind suffering under their own misguided and politically motivated lies. It is the kiasu syndrome in action in this chase to be ahead and more advanced than others. Think of driverless cars, smart cities, space communication, super fast global communication networks etc etc and all the new technologies that are in development….
 

So far only a handful of hardcore die hard countries are willing to miss the Hua Way and sticking to the American Way, to live under the American lie and to live in limbo in an obsolete technology, the 4G, and waiting for a miracle to happen. If the miracle does not come fast, they would be history. The rest of the world that is embracing the Hua Way will race ahead and leapfrog to the next level of technological development and move on.
 

Time waits for no man. Countries are choosing between the Hua Way of the future and the American Way of the past. Make your choice. There will be two worlds far apart as long as there are substantial number of countries adopting the Hua Way. At the moment this has outnumbered the handful of losers believing in the American Way of obsolescence.

1/24/2019

CPF - How bad you have been had

For quite some time I have been silent on the CPF and so were many social media contributors. But silence is not consent, silence is not appeasement, and silence is not giving up. The danger of being silent is that some in power would say, see no more complains, so the people must be happy, the people have accepted it.

Just to recap how bad your CPF money has become, how you have been had, remember the NMP woman happily chirped that CPF is not your money, and how the house roared and clapped in approval? This was music to their ears. And this is want they want to hear, want the people to concede and give up their CPF savings, not the people's money, not the money of the people and their employers that contributed to it.

From its original conception and terms, the CPF savings must be returned to the contributor when he reaches the age of 55. Period. The condition was so simple, clean and clear. See how far the terms and conditions have changed and how far you have been had here.

1. You cannot have your money at age 55. This has been extended to age 65.

2. Latest, a letter from CPF extends the age of withdrawal to 70 if you did not read the letter carefully, did not receive the letter, did not know how to read or somehow miss this letter and did not reply.

3. And if the CPF returns your money, it would be in drips and draps, by instalments up to 80 or 90 years or when there is still money left, whichever is later.

4. Before you are allowed to touch your money, there are compulsory insurance schemes that you did not agree to pay for, ie CPF Life, Medishield Life, Eldershield Life and akan datang, CareShield Life. And this is not the end of compulsory insurance schemes if you can trust the clowns.

5. You have to set aside Minimum Sum to the tune of more than a hundred thousand dollars despite paying CPF Life premium.

6. You have to set aside Minimum Sum for Medisave despite paying premium for Medishield Life.

7. For those who are already qualified to withdraw your CPF savings, if you sell your HDB flats or property you have to repay the interest on your housing loans and the money tangkap again to top up your Minimum Sum. Wait a minute, aren't CPF your money and you are already past the withdrawal age of 55, why still must contribute and money tangkap in CPF?

8. And if you are still employed, self employed, way past the withdrawal age, you still have to contribute to CPF.  Holy shit, dying old folks working way past retirement age, can die any moment, still must contribute to CPF! 100 year olds or more also must contribute to CPF!

9. And for those who were CONvinced to opt for higher interest rate, the CPF balance when they died would be transferred to their beneficiary's CPF accounts, not pay out in cash.

10. If you did not indicate that your beneficiary should received in cash on your demise, the money would not be paid out immediately in cash but transferred to their CPF accounts and subject to all the tangkap rules and terms.

Whew, there could be a few more for your own good new rules and terms that I may have missed out. But the above 10 items are suffice to let you know how you have been had when the original contractual agreement was to return everything at 55.

Singaporeans must be thankful and grateful for having such caring and thoughtful politicians to take care of them and their CPF money. Did they say you don't need enemies if you have such good and caring friends? Always thinking, planning and scheming on how to take care of you and your CPF money. Don't forget how much is sucked away by affordable and subsidised HDB flats.

PS. How many people would have been dead at the age of 60, 65, 70 and so on? What is the point of having so much money locked up by the govt in the CPF when one is dead?

1/22/2019

Meng Wanzhou - National pride versus economic interest

The arrest of Meng Wanzhou has pitted China against the little country called Canada and its boy PM and girly FM. For the moment China is daily increasing pressure to squeeze these two naive twits to release Meng. The twits are stubbornly hanging on to their stupid position and risking the lives of Canadians being detained and arrested by China. For their childish pride and ego, they could not care about the lives of Canadians, one already sentenced to death, and Canadian business and economy. They just would not admit their stupidity.

Nearly two months have passed and China is still directing attacks at the silly boy and girl for acting as US's little doggies. In a way this is to hammer the unthinking boy and girl for acting silly. You want to fool around with China you will be caned and real hard.

The Americans have been off the Chinese radar so far though being the real devil. This would not be long. The Canadian ambassador in the US, David MacNaughton, has told the Canadian boy and girl that the US intend to extradite Meng before 30 Jan 19. When this is carried out, China would be forced to act against the US as well.

During this period, China has been actively negotiating a trade deal with the US to end the trade war. And the deal is almost done. What would China do if Meng is extradited to the USA to face life imprisonment? Would China close an eye and sacrifice Meng and go ahead with the trade deal? Doing so would seriously challenge the credibility of China in its ability to protect its own citizens from devious and illegal arrest by other countries, in this case the evil Empire. China as a big power would be watched by the whole world on how it prioritise trade and economic interest over national interest and national pride.

The whole Chinese population and Chinese around the world would also be watching if China would sacrifice its own citizens for money and be humiliated by the Americans once more. Another humiliation on China today would likely see the fall of Xi Jinping as the absolute ruler of modern China. Chinese pride and patriotism would not accept Xi to capitulate in this case. If China can forsake its own citizen, an important commercial top executive, it would be read as China would forsake all its citizens and those Chinese around the world. The new law to protect ethnic Chinese around the world would become a bluff. This is a tough call for Xi and to go ahead with the trade deal is NOT an option.

China and Xi cannot compromise Chinese pride and nationalism for economic gains, pride and nationalism cannot be exchanged for money, cannot be bought or traded.

Xi Jinping would be put to a severe test and his mental toughness as the leader of China and a world leader would either go up or go bust.  Xi cannot afford to be seen to be bullied by the Americans. It is time that China takes action against the Americans by arresting a few senior American executives for committing crimes or espionage against China to trade with Trump. Being meek and weak would only invite more bullying and humiliation.

PS. This is my contribution for 23 Jan 19.

Rule of Law – Trudeau appealing to his think alike in Singapore

The Canadian fiasco in arresting an innocent Chinese citizen on transit through Vancouver Airport under its fake claim of rule of law, abiding by an international treaty with the US and so is free to arrest anyone indiscriminately, is making the Canadians looking like mischievous clowns in the international arena. Our action is all within the rule of law, there is nothing wrong with it. China is a country that has no rule of law, lawless, not following the rule? Only the sillies and kids would believe in this white farce.
 

Out of nothing, in a peaceful and stable relationship between the two countries, Canada is now making a fool of itself and paying a very heavy price politically and economically and even affecting its citizens overseas. All this is so unnecessary. Just keep shouting rule of law and keep accusing China as one without any rule of law, with no justice system and think you can get away with it. Now it is getting slap left and right by China.
 

China is telling the Canadians boys and girls in the govt to wise up and release the Chinese citizen immediately and apologise for their stupidity. But the stubborn boys and girls are sticking to their silly game and pretending that they have done no wrong. And they are scurrying everywhere to ask for assistance to get pass this stupid situation. Unfortunately they could only rely on the ex British conquered countries, ie the 5 eyes countries, for support as the rest of the world have seen through their hypocrisy and stupidity and would not waste a breath to say anything in favour of the Canadian boys and girls.
 

The boy PM is so desperate that he even called Hsien Loong in Singapore to support his rule of law nonsense. He knew that Singapore has been very loud in this rule of law thing and would definitely echo the boy PM’s cry. Singapore got to be very careful in replying to the boy PM and not to ruffle feathers in Beijing again when talking about the rule of law or rule of rogues and kidnappers. Saying the wrong thing, in another similar situation that has nothing to do with Singapore, would put Singapore in the same shitty situation as Canada and no one in the world, except the 5 eyes countries, would come to Singapore’s call for help if Singapore falls into the western trap for being a busybody.
 

Singapore is best to stay out of this stupid circus, don’t take the call, don’t say anything. The Canadian boy PM would be most happy to use the megaphone to tell China that Singapore is on the boy PM’s side and has supported their stupid rule of law/rule of rogues and kidnappers position. Of the more than 30 countries the boy PM had called, his most value call would be to use Singapore’s voice to support his case.
 

You can bet China would be furious and Singapore would only have itself to be blamed. Wisdom grows out of making mistakes in the past and is a painful and expensive experience that must not be forgotten easily and quickly. The price of wisdom is very high.
 

Canada is suffering from many cancelled economic and trade agreements costing hundreds of millions or billions of Canadian dollars. Can Singapore afford such developments and all for nothing except to open its big mouth to support the boy PM’s rule of rogues and kidnappers disguised as rule of law? Rule of Law has taken on a different meaning in this case, ie, a dirty political slogan.
 

It would be interesting if the boy PM start to shout that Canada can punch above its weight against China.
 

PS. There are now more than 200 Canadians detained/arrested in China for breaking Chinese laws.

1/21/2019

Progress Singapore Party - Can it make a difference

On hearing the formation of another new party in a political scene filled with many dysfunctional and defunct little hopeless parties, the same thought came to mind, why another party to split the already scattered opposition ground? Would this new party be just another hare brain little party that is going nowhere but to please the ego of a few conceited ambitious individuals thinking that they can be the next PM of this island?

Can the Progress Singapore Party make a difference to the already hopeless situation, would it make a difference? When I read Cheng Bock saying that it is another alternative voice in Parliament, I give up all hopes. Singapore does not need another alternative voice in Parliament. This is a meaningless option and a futile effort that would not do anything to help the people and country. Singapore needs a serious political party to challenge the PAP and to be able to wrestle political power to change the deteriorating state of affairs.

Perhaps I am asking too much too early. A journey starts with a single step, and this is another single step, hopefully leading to somewhere and not nowhere. I am not enthusiastic about another political party that is thinking and planning to be a force to be reckon with in another 10 or 20 years. By then the damage would be irreparable. Singapore would have gone to the third world, maybe even taken over by foreigners. This is my reservation, Singapore needs change urgently, now, not in another 20 years.

Not all is lost. Change may happen tomorrow and this new party may be that catalyst that sparks the flame for change. For this to happen, several conditions must be met. I will deal with a few here and they are not exclusive and not the only conditions that would make change happen.

The first point is the size of this new party.  How big is it? Can it field enough good candidates to pose a real alternative govt? To be meaningful, effective and serious, it must field enough candidates to win and form a new govt. A coalition with the other smaller parties may be possible but unreliable with so many PMs to be putting their self interests ahead of national interests.

The second point is the quality, calibre and stature of the candidates contesting the election. Are they substantial individuals that can command the respect and confidence of the people? Would Progress Singapore's candidates be third liners of ex PAP cadres and members, or would they be eminent professionals, highly regarded individuals like Hsien Yang, George Yeo, Kwan Ping, Yeoh Lam Keong, just to name a few? Would be nice if a few ministers or ex ministers be brave enough to join the Party to show how serious and real is this challenge to replace the PAP in govt. This is very serious business and having more mediocre candidates, not in the sense of earning less than $500k, would not mean anything. The Progress Singapore Party must bring out a slate of big names to convince the people that this is the real thing, not another hopeless little party just for fun.

A third point to make, is this the time for political change, is Singapore ripe for political change? Had PAP work itself into a corner, a sinking ship or a ship that is being driven over the cliff? The perception of the people of the PAP, whether PAP has outlived its usefulness and no longer a party for the people's good is vital in making change to happen. Are the people still with the PAP or already lost all hopes on the PAP, a party of the past that no longer serves their interest and well being? This is a crucial question. The PAP may still be looking good superficially,  but no one knows how bad it is within and how the majority of the people really feel about this Party. UMNO is a good example. Prior to the GE it was looking invincible until the chips were down.

No, do not expect another Mahathir in Singapore. No one in Singapore today can hold a candle to Mahathir. He is untouchable and the Malay ground holds him in high regards. He commands their respect and unquestionable support. There is no such character worthy of that kind of respect in Singapore today to do a Mahathir.

There is still time for the Progress Singapore Party to get its act together to be not just another hopeless party jumping into the fray. If they want to come in, make it real, make it happen, make it now.