atans1

Posts Tagged ‘Fate’

The “new poor” revisited

In Political economy, Political governance on 08/02/2012 at 6:05 am

“Tan Jee Say, an opposition politician, said such global accolades ["the top marks S'pore scores in global surveys on the ease of doing business and low corruption levels"] often had little bearing on the lives of Singaporeans, many of whom who have seen their incomes stagnate over the past decade” (article), reminded me of what the Sage (not Stag) of Hougang said in 1997 or 1998 during the Asian financial crisis.

Low Thia Khiang (then the sole WP MP) spoke of the “new poor” and was roundly condemned and attacked by PAP ministers and MPs, and the local media for using of this term.

Well he was right wasn’t he? “The new poor” S’porean is a growing species. Leong Sze Hian pointed out a few days ago that wages have stagnated for many S’poreans for the last ten years:

10 Years – hardly any increase?

If we look at the data for the last 10 years, for example, the income of Singapore citizens at the 20th percentile level, grew by only 25%, from $1,200 in 2001 to $1,500 in 2011 (excluding employer CPF contributions).

In real terms, I estimate the annualized growth to be about 0.2%.

This is a far cry from the 2.2% real annualized growth for the last five years (including employer CPF contributions).

(Full article)

And the “new poor” continue to face the triple whammy of high living costs, low wages & purchasing power.

And didn’t Low have foresight when he asked in the late 90s for help for the “new poor? Something that was again rubbished by government ministers, PAP MPs and the local media, but which is now the part of the PAP’s strategy for regaining lost ground in the next general election: Bread and perhaps Circuses. The government is even planning to strengthen the almost non-existent social safety net, something which was taboo in the past.

So while S’poreans are rightly upset with the silence of the WP (Low is the leader) and MP Yaw (a married man) over whether Yaw had an affair with another married WP member, let’s not go overboard in flaming the WP, even though Yaw’s demotion (OK resigning as Treasurer and leaving the party’s politburo) tells us everything.

Cut it some slack because Low got the issue of the “new poor” spot on all those many years ago, and because he (and Chiam) kept the flame of opposition alive in parliament and on the ground, when it was most unfashionable to be associated with the Opposition.  Example: one TJS was quietly working away in fund management. Remember too, Low has played a big part (he became the party leader in 2001?) in the WP becoming the force it has become. And finally, he did nuture two next generation leaders Yee Jann Jong and Gerald Giam.

So while I think the WP is damaging itself by being more PAP than the PAP itself by refusing to comment on “rumours” about Yaw, let’s hope the damage done is not too great.

In case if anyone is wondering, the WP did not pay me for this “ad”.

A final mean, very mean, unrelated tot: “Is TJS speaking from experience when he talks of ‘incomes stagnate’?”. Declaration of interest: My income has collapsed in the last decade. And even then it was a fraction of what I was earning in the mid 90s. I was, and am, part of the “new poor”. But no need to cry for me. Being poor is relative as Grace Fu and friends should realise.

And anyway:

Let what will be, be.

Tis labor lost thus to all doors to crawl,
Take thy good fortune, and thy bad withal;
Know for a surety each must play his game,
As from heaven’s dice-box fate’s dice chance to fall.

David Choe was fated to be very rich?

In Internet on 07/02/2012 at 6:51 am

David Choe, who first spray-painted the walls of Facebook HQ in 2005, accepted shares in payment for his work.

Now the site is planning to float on the stock market, its thought his share could be worth around $200m (£126m).

Writing on his blog, Choe said he was the “highest paid decorator alive”.

Although he had initially thought the idea of the social network was “ridiculous and pointless”, the artist decided to take the stock option instead of cash “in the thousands of dollars” according to the New York Times.

http://www.bbc.co.uk/news/entertainment-arts-16871764

‘Tis all a Chequer-board of Nights and Days
Where Destiny with Men for Pieces plays:
     Hither and thither moves, and mates, and slays,
And one by one back in the Closet lays.”

“Let what will be, be.”

‘Tis labor lost thus to all doors to crawl,
Take thy good fortune, and thy bad withal;
Know for a surety each must play his game,
As from heaven’s dice-box fate’s dice chance to fall.”

Someone not fated to be wealthy

http://atans1.wordpress.com/2012/01/26/apples-third-founder/

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