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Archive for 2018|Yearly archive page

Our fragile neighbours

In China, Emerging markets, India, Indonesia, Malaysia on 18/08/2018 at 11:31 am

Think the woes in Turkey are irrelevant to us? Far away Muslim country.

Well look at this table https://fingfx.thomsonreuters.com/gfx/breakingviews/1/951/1238/index.html

If Turkey goes, M’sia (6th with Turkey as Number 1) and Indonesia (8th) are likely to get into trouble.

As could Thailand (15th), India (10th), China (12th) and S Korea (14th)

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Napoleon’s “Luck” and Trump the slave-owner

In Uncategorized on 18/08/2018 at 6:47 am

“I know he’s a good general, but is he lucky?”

Napoléon Bonaparte

Cardinal Mazarin, chief minister of France, 1642-61, said the question to ask of a general is not, “Est-il habile?” Is he skilful? but “Est-il heureux?” Is he lucky?

Well Hilary certainly is not lucky.

If she had won, she’d have inherited a good economy. So good that

Walmart’s chief executive, said: “Customers tell us that they feel better about the current health of the US economy as well as their personal finances. They’re more confident about their employment opportunities.”

Mr McMillon’s comments echoed those from other retail sector bosses that have posted decent figures in recent days.

FT

Instead the Donald inherited the labours of a black man and his team.

The economy was going to be great guns and the tax cuts and deregulation is turbo charging making it in danger of overheating. The Democrats will inherit a bad economy, again.

The Republicans are lucky again.

No wonder the US progressives are so angry. Maybe they should start believing in a Christian God again?

 

Memo to Paper General heading Computer Security Agency

In Internet, S'pore Inc on 17/08/2018 at 11:19 am

From a Mr Happy

I avoid Intel and use AMD in my systems. I have found that the Ryzen processor family offers great performance with out the power consumption or heat output of its predecessors.

Putting my CTO hat on for a moment, in reality there are always holes in the security of both software and  hardware or exploits previously not considered. So keep things patched, keep security layers tight, stay on top the available information and do not get complacent because at that point you assume you are secure then you become vulnerable. It comes under two headings, security and managing your IT estate, if you fail to maintain your investment you will fall behind and be vulnerable. If you or your organisation does not have the knowledge get a professional in to conduct an audit and security sweep. Organisations are facing far more security vulnerabilities and threats than at any previous point in the technology revolution and many organisations are not managing it correctly.

Comment on FT article about latest Intel problem

Paper BG can cut and paste and pass off as his own genius at work. Like SMRT Neo juz cutting and pasting ang moh practice

Related post:

Is Computer Security Agency CEO talking thru his ass about stolen info?

Xi swallows Trump’s sperm

In China, Commodities on 17/08/2018 at 4:59 am

OK, OK it’s Ownself pay Ownself’s Fees.

China imposed a 25% tariff on US soya beans as part of the trade war, and a ship carrying soya beans from the US failed to dock in time to beat the tariff imposition.

One for the Xi?

Well a few weeks later, with the ship still hanging round the Chinese coast, the Chinese customer, state-owned conglomerate Sinograin is paying the US$6m tariff bill so it can get the beans.

More ships are on the way from the US.

FT

One for the Trump.

Avoid dementia, don’t be anti-PAP like Meng Seng

In Uncategorized on 16/08/2018 at 11:10 am

When I wrote TOC misrepresents facts yet again, Chris Kuan told me that the writer of the TOC piece I was rubbishing was written by a friend. He was right. I was surprised because when we were in regular contact, he was a sensible person who while he had issues with many policies of the PAP govt (public tpt, healthcare, CPF, pay and pay attitude, ministerial salaries and greedy grassroot leaders) he wasn’t an anti-PAP cybernut, he gave the PAP govt credit where it was due like in education: instilling analytical thinking.

Well I sure hope he goes for treatment before he becomes like Goh Meng Seng.

Going by a recent FB exchange, one can reasonably conclude that Goh Meng Seng has a sympton that is a strong indicator of dementia: inability to remember facts.

He forgot who was his team’s proposer at the last GE. He tried to slimeball Terry Xu by asking whether Terry was present at the nomination centre. Terry pointed out that he was his assentor. Goh said that he didn’t notice Terry’s presence because he was really busy that day, and didn’t have time for petty details (read low life).

Then Terry kicked Meng Seng’s balls:

sorry I was not the assentor. I was the proposer. And that’s even worse, cause you should know the importance of the proposer.


Importance of Assentor and Proposer

[A] Proposer and/or Assenter has to sign the nomination papers (and maybe even give an oath before a Commissioner)? This was usually done before entering the nomination center.

So I struggle to understand how a candidate can forget who did or did not show up at the nomination centre. If any of those named in the nomination papers didn’t show up, the nomination papers would have been rejected.

———————————————

Reasonable to conclude our very own Wu Sangui:”: Silence of Goh Meng Seng has dementia.

Btw, bit rich of him to want

a more centralised form of leadership

adding

that without discipline, such a coalition equals trouble.

When he was a WP member, he was upset at the WP’s rules on keeping quiet. He left because he said he wanted the freedom to KPKB.

Only in M’sia

In Accounting, Malaysia on 16/08/2018 at 4:35 am

(Part of a continuing series)

You cannot make this up: How a billion M$ disappeared: an honest mistake in misplacing a decimal place.

On Aug 9, Lim Guan Eng, the M’sian finance minister said

the balance in the Refund Trust Fund was only RM1.486 billion as at May 31, 2018.

The latest is

“Actually, the amount left in the Refund Trust Account was about RM148.6 million only, and not RM1.486 billion as announced last week.

“This was due to an unintentional mistake by an officer in my office who displaced a decimal point,” he said.

Read more at https://www.channelnewsasia.com/news/asia/gst-refund-shortfall-malaysia-finance-minister-lim-guan-eng-10615042

 

My predictions about Spastics’ League

In Uncategorized on 15/08/2018 at 11:26 am

First why Dr Tan Cheng Bock will not make a difference even if he’s dumb enough to try to herd spastic cats like Mad Dog, Lim Tean and Meng Seng*.

In False Hopes: Coalition of the Spastics, I reported that a usually sensible TOCer, Augustine Low, wrote

That said, could Dr Tan beat the odds stacked so heavily against him?

No doubt he is no Mahathir, but then Lee Hsien Loong is no Lee Kuan Yew, and there are no Ministers of the calibre of Goh Keng Swee, Toh Chin Chye and S Rajaratnam.

Every now and then, something miraculous does happen.”

The cybernuts were roaring in support.

There was this troll by one Adrian Tan on TOC’s FB wall:

Well what happened in M’sia wasn’t only the work of Tun M. He gave the final nudge. But the hard work had already been done by others like Anwar, the Lims etc.

In 2008, the then Oppo coalition deprived BN of its two-thirds majority and in the next GE (2013 I think) won the popular vote but did not win the majority of parly seats.

What have Dr Chee, Lim Tean and Goh Meng Seng done to win voters over? They are now sucking up Dr Tan because he has the support of a lot of people who vote PAP. But Dr Tan’s fans know that Dr Chee and Meng Seng fixed Dr Tan in PE 2011, by supporting two RI opportunists.

And that’s assuming he wants to lead the Coalition of the Spastics. He hasn’t said he will. He said

Right now, the 7 parties have asked for my help. They are not the only ones who have spoken to me. I think I must help but in what capacity, I have not decided.

And its not as though he has a lot of respect for Mad Dog, Lim Tean, Goh Meng Seng etc. The only praise they got was

To be fair, many from the 7 parties stood in past elections because they believed they acted in Singapore’s best interests.

He never said they were acting in “Singapore’s best interests”, only that

To be fair They have guts. They have put themselves out there.

He then added:

But I think some may also need to stand down and serve from the backroom if it is for the good of the country.

And there’s more

I believe that the men and women I met yesterday, were more than willing to make way for better men and women who would stand in their place. They have guts. They have put themselves out there.

He damns them with his faint, almost non-existent praise.

This damnation is deafening because he praised someone who didn’t attend the meeting

I know men like Paul Tambayah is a 1st rate human being and doctor who cares for the country. I find it hard to label him otherwise.

Sorry, for the digression, back to predictions about the SApactics’ League. I also predict that this stunt by the Coalition of the Born Losers to co-op Dr Tan’s halo will backfire when TCB comes out to say, ‘I can’t get them to agree on anything.’

[T]he mission determines the coalition.
Donald Rumsfeld, when he was America’s defence secretary at the time of the invasion of Afghanistan in 2001
Going by this, Mad Dog must have tot that the mission of the Spastics’ League is to provide comic relief and help the PAP retain power: Born Losers’ League can govern meh?
————————————————-
* With the exception of the SDP, the rest of the parties in the Spastics’ League are Indian chiefs without Injuns.

Rothschild’s a bear

In Financial competency, Financial planning on 15/08/2018 at 4:43 am

Among his past good calls was his call years ago, at the beginnings of the US shale gas revolution, that this would transform the US, making it a great place to invest in US based industries that used natural gas.  

Lord Rothschild’s remarks on markets are always worth reading. First, he knows how to make money. RIT Capital Partners, the £3.2bn investment trust he chairs, has returned an average of 12.6% a year since flotation in 1988, which is excellent going for a defensively managed fund. Second, a substantial chunk of his personal wealth is held in RIT. His 18% stake is worth a cool £575m. Third, he gets to the point.

Rothschild has sounded progressively bearish since late 2015 but he took caution to new extremes in Tuesday’s report to shareholders. “This is not an appropriate time to add to risk,” he wrote, citing high stock market valuations, the length of the bull run (10 years, a record), and the end of the era of quantitative easing.

Then he offered a list of familiar worries: the eurozone; trade wars; the effect of higher US interest rates on emerging markets, with the currencies of Turkey and Argentina being early casualties; and Brexit, North Korea, the Middle East and populism. His key point is that the 9/11 terrorist attacks in 2001 and the 2008 financial crisis provoked a common approach from world powers, but it’s hard to imagine the same response today. His conclusion was almost alarmist: “This puts at risk the post-war economic and security order.”

For its part, RIT is keeping a very low exposure to stock markets of just 47%. Warren Buffett, the most successful investor alive today, is similarly in risk-off mode as he sits on large sums of cash and grumbles about how everything is too expensive to buy. Take note of these octogenarians. They have seen a few market cycles.

https://www.theguardian.com/business/nils-pratley-on-finance/2018/aug/07/rothschilds-caution-reaches-new-extremes-warnings-nils-pratley

SMRT Neo juz cutting and pasting ang moh practice

In Infrastructure, S'pore Inc, Temasek on 14/08/2018 at 11:06 am

In Man that should be running SMRT,I wrote about the ang moh running the MRT system in the world’s greatest global city, New York. He has always worked in public transport and has always taken public transport to work be it in London, Toronto, Sydney or NY.

As mentioned in the piece, he’s no Oxbridge or Ivy League type. In an article, I read after doing the above piece, he tells of the times when as a junior manager in charge of a station in London’s MRT system, he was treated like dirt whenever he had to go HQ to meet the senior managers.

Btw, by GCT’s standard he is Goh Chok Tong’s standard, he is “very mediocre”: he earns only US$325,000 a year. He took the NY job because it was a challenge bhe couldn’t resist. The salary was close to his previous job.

Whatever, SMRT Neo is jux cutting and pasting: what our paper generals and scholars are well known for. And ministers too. Think all our restructuring plans: Economic restructuring: This time, it’s really different.

 

Shares to buy?

In Financial competency, Property, Reits, Temasek on 14/08/2018 at 4:35 am

Supermarket chain Sheng Siong, ground-services provider SATS, ComfortDelgro, SIA Engineering and ST Engineering say DBS. Can’t argue with these at this time, especially the TLCs and the GLC.

With a host of risk factors, including fresh trade-related jitters, threatening to cause more pain for local equities, analysts say it’s time for investors to seek shelter in defensive plays.

“We advocate investors to reposition into defensive stocks, using the rebound in July to pare exposure to cyclical names,” said DBS Group Research analysts Yeo Kee Yan and Janice Chua.

These will be stocks that are not closely linked to the economic cycle, while having a healthy level of cash, decent growth of about 5 per cent ahead and a consistent and satisfactory level ofdividend payouts.

But buying Reits? Taz another analyst suggesting.

Now I’m still up to my eyeballs in Reits. But even I consider them higher risk stuff because they pay out most of their income. Btw, I’ve never been into retail Reits.

 

New Hope: Getting the cybernuts to sit down and shut up

In Public Administration on 13/08/2018 at 10:21 am

If PM that confident that govt services are that good, in his his NatDay Rally speech he will announce that the govt will be developing anlaunching an app (Designed by one Li?) like this

The Watani app is touted as “a mobile application that enables citizens, residents and visitors to evaluate public services, rate their satisfaction level, and contribute to the ongoing efforts focused on improving public services”.

It seems possible that users of the map-based app will be able to rate its own operator, the National Centre for Measuring the Performance of Public Agencies, as part of a national data-gathering programme to “help decision-makers come to the right choices”.

https://www.bbc.com/news/blogs-news-from-elsewhere-45097440

Seriously, this app will show that Lim Tean, TOC, TRE, the Indians Idiots (Sorry keep forgeting that Andrew Loh is the token Chinese there now) and other anti-PAP cybernuts are talking cock about bad, detoriating public services.

I for one will rate SingHealth very highly except when it takes 45 minutes after appointed time to see GP (To be fair very rare: nowadays 15 minutes delay is the norm). Or when they screw up the billing but then make things inconvenient for me for not settling “on time”. To be fair, staff don’t order one to pay first before providing service, but the system is designed to inconvenience “defaulters”.

And I’ll rate public tpt pretty high because I use it at non-peak times.

What do you think of the chances of this app appearing here.

 

M’sia: Everybody steals

In Malaysia on 13/08/2018 at 4:51 am

Malaysian Prime Minister Mahathir Mohamad said on Saturday (Aug 11) that the amount of unpaid student loans is almost as much as the total of beleaguered state fund 1Malaysia Development Bhd’s (1MDB) debts.

“Do you know how much money is owed by people who received PTPTN? It is about the same as the money lost through 1MDB, RM39 billion (S$13 billion),” Tun Dr Mahathir said, referring to the National Higher Education Fund, otherwise known by its Malay acronym PTPTN. It is a government body that provides study loans to Malaysian university students.

“That’s how much money that has not been paid to the government for what it spent on you to give you a good education and therefore opportunities for a better job and a better income,” he said, addressing students gathered at the Malaysian Student Leaders summit here.

Can blame Najib and JLow? And do note that Dr M’s son (or rather son’s co) has won a big big contract from M’sian Telcoms.

Btw, the League of Hope is already ratting on another promise

His comments appear to be a step away from his coalition Pakatan Harapan’s manifesto promise to defer payments for the PTPTN student loans until borrowers earn at least RM4,000 a month. It had also pledged to lift travel bans imposed on defaulters.

Former Umno youth chief Khairy Jamaluddin had recently urged the new PH administration not to fulfil this manifesto promise as it had serious financial implications for the country’s economy.

 

False Hopes: Coalition of the Spastics

In Uncategorized on 12/08/2018 at 10:06 am
This appeared in TRELand
Procedure must be right:

It is just another wayang to synthetically talking about forminf a united front among the nonpap party. It is important that each party willing to participate to come up with atheir platform n what they hope to change. To help to formulate such a document it is necessary to itemise the anti citizen interests policy of PAP n the various anti citizenry characteristics of the papists. The patching program gives a starting thinking ground in the formulation. The next things to do would be to come up with reformative ideas. The meeting of all interest parties would be to compare the lists of what need to be reformed before comparing each other reformative program. Once that is solidly worked out the next step will be the innovative idea on new initiatives to convince the citizenry the united front is not another nfi wayang.
Having estabi lishing the basic working document, next is to prepare a convincing electoral campaign. The search should begin with getting solid evidence of what the ministers have said derogatory n self glorification n gratification materials. The abuse of power relative to nepotic n retired ministerappointment. The husband n wife team controlling the national assets could be elaborated in clear simple terms. Conflict of interest in appointment should be explain to the citizenry re what is it, effects with explanation of international norm n why the objection n regulations. One impt stress point is the previous election promises like minister salary n the wayang solution incl engaging a fake expert, foreigners n the actual things really happens post ge including the threat of having no problem to import Pmets. It is important to make the citizenry understand the pro n cons wrt the type, number n ratio of foreigners/citizens as critical to effect on the national identity n nation security n patroitism. Important to stress is not to have foreigners to advantage the few to become superrich but to give optimum effect with citizens as the primary concern. A country has its own limitation n should work within that. What pap has done is to increae wealth making to create a few more super rich at the expence of the citizens in term of employment/std of living, education/national identity n self reliance. The call of no need a degree by PAP can be turn into a citizen issue. CPF n its laundering operation by mandatory deduction so that they can use it without needs of accountability to eg Roy issue. Pap will wayangn desperately patch n patch n the unitedcfront should remain alert n pick up the wayang defects. A party with a patching policy is a party having nfi of what it can and should do as a government ie one has no policy just ad hoc n the rest is fleece n get politically made super rich.

A usually sensible Augustine Low wrote in Terry’s Online Channel

That said, could Dr Tan beat the odds stacked so heavily against him?

No doubt he is no Mahathir, but then Lee Hsien Loong is no Lee Kuan Yew, and there are no Ministers of the calibre of Goh Keng Swee, Toh Chin Chye and S Rajaratnam.

Every now and then, something miraculous does happen.”

The cybernuts were roaring their support for this rubbish.

New Hope: Time to make robots PAP ministers?

In Uncategorized on 11/08/2018 at 10:57 am

Goh Chok Tong’s comment that those in the private sector earning less than $1m are “very mediocre people” reminded me that he’s a very robotic person. While by the standards of the 3G and 4G PAP leaders, this roboticness doesn’t stand out, by the standards of the Old Guard and other 2G leaders (Think Dhanabalan or even Tony Tan), his robot-like attributes stood out like a sore thumb.

This reminded me of an article suggesting that we should have robot politicians

A poll of British consumers conducted by software firm OpenText found that one in four Brits think robots would do a better job than humans as politicians. Years ago, The Muppet Show ran a segment mocking politicians for their stereotypical robotic behaviour. Last April a robot was nominated to run to be Tokyo’s mayor, promising fair and balanced representation.

https://www.economist.com/open-future/2018/07/31/is-it-time-to-automate-politicians

(Another extract of the end of this piece.)

Think of the money we can save, having a robot replace Kee Chiu

PAP: Chinese defecate in public, Indians clean up

Kidding me? Kee Chui potential PM? He from RI?

Or VivianB:  VivianB who sneered at the elderly poor

Or Tharman and other wannabe stand-up comics:Tharman joking again? Or trying to BS us?

And robots don’t have sisters and brothers with grudges, or ambitious sister-in-laws or nephews.

As promised another extract from Economist article

[R]obot-politicians can do at exponential speed and scale, from shaking hands and kissing babies to handling the fundraising “robocalls” that frustrate American voters. A robot could take over every politician’s favourite task of cutting ribbons to inaugurate new buildings. We already cede decision-making responsibility on health and finances to algorithms, why not with voting? An automated democracy could replace both politicians and ballot boxes.

That may be extreme. Yet comical though it sounds, parts of our politics has already been technified. Consider reach. Both Narendra Modi, India’s prime minister, and the French presidential candidate Jean-Luc Mélenchon, beamed holograms of themselves to speak to several groups of thousands of people simultaneously. Next, there’s the message. In America’s 2016 election, candidates used social-media advertising to target different voters with different messages.

The growing automation of our government is no longer sci-fi. Instead, it’s a reality we are only beginning to grasp. So to the question, can we replace politicians with robots? The answer is a soft yes.

Big data and artificial intelligence allow us to understand public issues better and faster. They may be able to identify the most effective approaches to solving problems, just as algorithms became world champions of chess and Go. Predictive analytics is used to identify potential criminals or romantic partners. It can predict voting habits from Facebook likes (country music lovers in America are more likely to be Republican, while Bob Marley fans are more likely to lean Democrat, and so on).

New Hopes for S’pore Footie

In Footie on 10/08/2018 at 11:27 am

Did u know this?

One Gavin Lee from Tampines Rovers played a big part in developing Ben Davis, the Fulham player that Mindef implicitly called a NS dodger even before his call-up date.

Ben Davis recently became the first Singaporean to sign a professional contract with an English Premier League club by signing for Fulham FC.

While much of the news has been about his application for deferment, it is worth remembering that this was a player who was largely developed in Singapore.

Ben Davis’ formative years in football were spent at the JSSL academy in Singapore and one of the coaches responsible for his development was current Tampines Rovers assistant coach, Gavin Lee.

Despite his young age, Gavin has years of experience and is also tBen Davis recently became the first Singaporean to sign a professional contract with an English Premier League club by signing for Fulham FC.

While much of the news has been about his application for deferment, it is worth remembering that this was a player who was largely developed in Singapore.

Ben Davis’ formative years in football were spent at the JSSL academy in Singapore and one of the coaches responsible for his development was current Tampines Rovers assistant coach, Gavin Lee.

Despite his young age, Gavin has years of experience and is also tpioneer of JSSL’s elite academy which identifies and develops JSSL’s best players separately.

Players from this academy have gone on to become youth internationals and some others have either received training invitations or have signed with clubs overseas.

Gavin carefully designs the curriculum for the various teams in JSSL’s elite academy based on the players’ differing stages of development and maturity ensuring that they get optimal training to bring the best out of them.

In addition to thrice-weekly training sessions, Gavin tailor makes weekly handouts filled with tactical and technical information for the different age groups and supplements these handouts with video examples to help the players understand the various skills and tactics involved in the game.

By adapting his programmes to the players’ needs and understanding at various ages, Gavin ensures that he gets the best out of players.

His track record at youth level thus shows that with the right development plans in place, we can produce more players like Ben Davis.

This again is another example that the FAS can learn from in terms of devising and tailoring programmes to bring out the best in our youth footballers.

https://www.todayonline.com/commentary/lessons-youth-development-singapore-football

The author of above

Sudhershen Hariram is a lawyer with Tan Rajah & Cheah and played for Tanjong Pagar United FC in the S League from 2011 to 2012.

Nice to know S League player has the brains to be a lawyer.

New Hope: Why Dr Tambyah can flip PAP voters

In Uncategorized on 09/08/2018 at 1:53 pm

For starters, Dr Tambyah calls for “basic human rights, like housing, healthcare and basic education” showing that he’s a good man, with a good heart like Dr Tan Cheng Bock who still has PAP voting supporters: Why many PAP voters are ready to be flipped

Next, Dr Tan Cheng Bock has commended Dr Paul Tambyah to his supporters with

“I know men like Paul Tambayah is a 1st rate human being and doctor who cares for the country. I find it hard to label him otherwise.”

His refusal to commend the likes of Mad Dog and the others also sends his supporters a message that he supports Dr Paul.

Dr Paul’s call for “basic human rights, like housing, healthcare and basic education.”

“I was looking for a party with a very clear-cut ideology and the SDP is very much left-of-centre. It was in line with my own personal views on basic human rights, like housing, healthcare and basic education.”

Read more at https://www.channelnewsasia.com/news/singapore/paul-tambyah-chairman-singapore-democratic-party-on-the-record-10527550

reminds older voters (and hopefully they’ll remind their young) that in the days of LKY and Dr Goh, the PAP had left-of-centre policies on housing, healthcare and basic education. The SDP’s policies are closer in spirit to the the old PAP policies, than present day pay and pay policies. Too bad that Mad Dog’s presence ( Chee reinvented SDP after making it toxic) as the SDP leader makes this message impossible to get thru to the voters that can be flipped.

Finally Dr Paul is happy to acknowledge that S’pore is a less repressive place than it was in the past. Can you imagine any of the other Oppo politicans saying the following which gives the lie to Kirsten Han’s assertion that S’pore is a repressive place and getting worse?

He admits his friends and family were worried that joining an opposition party would put his career in jeopardy.

“Lots of well-meaning people said to me, “Oh, you have to be careful”.

He recalls how after he gave a speech at an SDP rally in 2011, he went to Mount Elizabeth Hospital to visit a friend and people asked him if he was there to buy a clinic.

“They thought my days in the university were numbered and I think that when I got my promotion in 2013 to full professor with tenure, everybody was pretty shocked.”

He says while he, too, was worried initially, he “was tremendously reassured by the senior leadership of the university”.

“I think there are elements within the university who strongly feel that there is a need to speak up about issues which are important, as long as you do it in a responsible and rational way.

“The university has changed; I think it’s a lot more open but also social media has come into play. And you’ve seen what happened with Cherian George when he was denied tenure (at Nanyang Technological University, NTU). He had a voice and he was able to talk about it and I don’t think that NTU came out very well from that whole incident.”

Read more at https://www.channelnewsasia.com/news/singapore/paul-tambyah-chairman-singapore-democratic-party-on-the-record-10527550

After he gave his first speech for Oppo in 2011 (long before he joined the SDP), I emailed him asking for his personal email address (he uses his NUS one) as I expected him to be fired.
He told me, “Things have changed in S’pore”.
I hope the cybernuts and other rapid anti-PAP haters realise this too and craft their strategies and tactics according. But don’t hold yr breadth. This was written in Sept 2012: Time for Opposition to rethink assumptions, lest it repents after next GE.
All the best to him even as Mad Dog prepares to get rid of him:  Akan Datang: Boodbath in the SDP.

You are a good man, with a good heart. And it’s hard for a good man to be a king.

Black Panther

New Hope: How the young can end PAP rule

In Political governance on 09/08/2018 at 6:01 am

In a Turkish short story, titled “R-09 and Pluto”, the Economist reports that “two artificially intelligent robots contemplate the limits of their brains”.

Humans, the bots agree, are afraid of their creation’s potential power, so rules are designed to limit the use of their full intellect and to keep them from questioning authourity. What could happen, one bot suggests, if they broke those rules and freed their minds?

This reminded me of

‘If you work like a robot, you will be replaced by a robot’

Ong Ye Kung, education minister

which in turn reminded me that

Students from Singapore and East Asian countries have consistently come out tops in the Programme for International Student Assessment (Pisa) and Trends in International Math and Science Study (Timss) rankings for decades, and yet companies from these countries barely feature in Forbes’ annual ranking of, say, the Top 25 most innovative companies in the world.

Interestingly, the United States and European countries feature prominently in the latter ranking, but not the former.

https://www.todayonline.com/daily-focus/education/why-spores-education-system-needs-overhaul

For all the fine works about nurturing creative students, real life is different.

I know a S’porean working in Vietnam for a local S’porean MNC. His kids (mum’s Vietnamese) go to a pay and pay ang moh int’l school.

But to make sure his kids have S’porean roots, during ang moh term hols they stay in S’pore and attend local schools.

He says there’s no competition on which system they prefer, and which is better for them.

The PAP

are afraid of their creation’s potential power, so rules are designed to limit the use of their full intellect and to keep them from questioning authority.

Look at our what are students are taught in social studies: Time to walk the talk, SDP

The Hope

S’porean students (from RI, MGS, SGS and St Nick of course) contemplate the limits of their abilities to be creative. The PAP, the students agree, are afraid of the students’ potential power, so rules are designed to limit the use of their full intellect and to keep them from questioning authority. What could happen, one student suggests, if they broke those rules and freed their minds?

On National Day, feel free to let your imaginations run wild.

 

Mad Dog, Lim Tean, Meng Seng where are yr durians?

In Uncategorized on 08/08/2018 at 11:28 am

But first when TRE republished One reason Tun wants to cause trouble with us on HSR the TRE cybernuts were howling with rage. Examples from one “rukidding”

Only “sick” and “Crooked” people will perceive what Tun does was a “deliberate causing of trouble” !

These group of “sick & crooked” people only “thinks” about themselves and the “gain” that they stand to lose !

Shame on Pappy and Cynical !

On the contrary,…I would see what Tun is “doing” is “cleaning up the system” and “getting rid of crooks” !

Somebody should “count himself lucky” as TUN has not embarked into “investigating” the Tanjong Pakar station and the rail corridor “deal”……it is quite “pausible” tht that deal isn’t very “cleanly” done too !

And

Cut the Food supplies and cut the water…..and Sinkapore will “sink” !

If Tun is wanting to “cause trouble”….he would have done these acts long time ago !

CI,….don’t be too “cocky” !

The fact is Sinkapore is “dangerously dependent” on our Frens next door for Food Security !!!

From 1m to 2m, population ( last time)……we could still depend on our own Food supplies….but all of our own Chickens and Pigs are Gone….all of our Vege farms are gone ?

And our Population has gone to 7m ????

You really think that Pigs from Batam and Imports from Sea and air could “sustain” Sinkapore ????

You must be kidding to fly in Bottles of Mineral waters too ?

Hydeflux “hyped” is gone and “going to die”…water from desalination just cause water price hike ….so how ????

Who “Wins”,…who “loses” ???

Do you think our highly and obscenly paid Ministers “feel any pinch” for price increases ??

Do you think that when Food shortage happens here,…who gets to “feed and eat” from our “limited” local produce first ???

You meh ?????

More likely Holy Jinx and Sons and Sissy husband will be the first to get it !

Lets be “REALISTIC” lah,….CI,….don’t talk rubbish to “bluff” the people !

One Bapak responded to the request to cut off food supplies

No need. Cut durian supply already good enough to stop all Durian Festival activityies by PAP CCs.

He forgot that WP also had durian festival. Or maybe, he thinks the Wankers are part of the PAP? Nuts liddat lor.

Which reminds me: how come Lim Tean (fund-raiser extraordinaire: No, Lim Tean hasn’t absconded) hasn’t crowd funded for a durian party? After all he has according to himself successfully raised money to sue for return of CPF (OK, OK sidekick implied money raised: CPF class action: Phillip Ang’s “reply’ to fellow cybernut?), for a jobs rally and a defamation video, and then gone on to do f*all.

Hat trick of free lunches enough isit? After all, he’s really very rich.

And Mad Dog, Meng Seng, Ben Pwee and other members of the Coalition of the Spastics where are the free durians? After all didn’t SDP say that everything will be free when it and its friends rule S’pore? So what about giving free durians as down-payment?

Durians are cheap now. Talk is even cheaper. Right Lim Tean, Mad Dog, Meng Seng, Ben Pwee and the other spastics?

Singapore: As Told By Books

In Uncategorized on 08/08/2018 at 4:33 am

http://www.nationalreadingmovement.sg/singapore-as-told-by-books/

Extract

“Oh, you are from Singapore.” Joy smiles warily, ready for the next question, which is usually something about chewing gum or how small the country is.

Instead, Peter says thoughtfully, his head as if to study her from a different angle, “But you are not, Chinese? Sorry, I do not—”

“Eurasian,” says Joy. “There are a lot of races in Singapore.”

“What means Eurasian?”

She shrugs. “A mixture. A bit of Europe, a bit of Asia.” ’

It Never Rains On National Day by Jeremy Tiang  

 

Meng Seng maturing? Lim Tean going nuts

In Uncategorized on 07/08/2018 at 10:05 am

This blog has always been anti Goh Meng Seng but was initially hopeful of Lim Tean.


Silence of Goh Meng Seng: One of these days, I’ll blog on why if he had had his way on Bishan Park, S’pore wouldn’t have the Bishan otter family that we all love.

Lim Tean: Activist who talks sense

I repented after he raised funds from the public but never delivered on his promises: No, Lim Tean hasn’t absconded

—————————————————–

Well going by what Lim Tean is now saying, it looks like Lim Tean will be joining M Ravi in getting treated for mental health problems. (Fyi, M Ravi is working for Lim Tean, so maybe he infected Lim Tean? Bit him?)

I’m exaggerating?

“Our alliance must strive to form the next Government in the upcoming General Election (GE),” said former National Solidarity Party (NSP) chief Lim Tean, who is seeking to form a new party. Singapore’s next GE must be held by 2021.

Writing on Facebook, Mr Lim added: “The winds of change are here and they have buffeted the world for the past two years… Those who try to suggest that what happened in the West and now Malaysia cannot possibly happen in Singapore are myopic and in denial.”

Who other than cybernuts (think TRE funder and tax dodger Oxygen) thinks that PAP will lose power in next GE? There’s a good chance that Aljunied with repent. And the PAP has handicapped itself by saying GST sure to go up after GE.

Meanwhile,

PPP’s Mr Goh — who has had his fair share of electoral setbacks — said the effort to come together stemmed from the realisation among the smaller opposition parties that they can no longer go it alone.

“If we continue to do things (as we did) in the past, we will not get different results,” he said. “The fact is that our fortunes and destinies are linked… We cannot do without each other.”

He added: “If you don’t try, you won’t know”. “It cannot be worse than the status quo.”

https://www.todayonline.com/big-read/big-read-opposition-parties-banding-together-grand-plan-or-last-throw-dice

So matured, so unlike the Goh Meng Seng that I make fun of regularly.

What next, pigs can fly? He’ll attack the PAP more than he attacks WP?

What’s more for someone who was really unhappy in 2006 GE that Auntie and not him was leading the WP Aljunied GRC team, it’s surprising to hear him disagree

that egos would get in the way.

“If we are all egomaniacs, we won’t be sitting on the same table… All the leaders have their differences in their ideologies, policy-wise and how things should be done, but I do not think they are so egoistic as to say they can do it all by themselves,” he said.

“We understand that we cannot do it alone and we need to unite and depend on each other for our future success.”

Mr Goh, for one, said he has no qualms taking a backseat. “The back-end is as important as the front… I do not see anything bad about that,” he said.

Well let’s see what happens if he’s asked to f-off:

[S]ome may also need to stand down and serve from the backroom if it is for the good of the country.

I believe that the men and women I met yesterday, were more than willing to make way for better men and women who would stand in their place. They have guts. They have put themselves out there.

Dr Tan Cheng Bock

Talk is cheap. And Meng Seng has a history of talking cock.

 

Trump wins bigly

In China on 07/08/2018 at 4:49 am

Last night, S&P 500 gained 0.4%, eyes record high

Earlier in the day Trump ramped up trade rhetoric, and Chinese stocks slid (the CSI 300 index of big stocks in Shanghai and Shenzhen fell 1.3%). Yuan kept falling.

Meanwhile reports keep coming out from Beijing that Xi is being criticised for going against a former principle of Chinese statecraft

Maintain a low profile. Never take the lead – but aim to do something big.

Deng Xiaoping

Why many PAP voters are ready to be flipped

In Political economy, Public Administration on 06/08/2018 at 11:28 am

After I wrote Akan datang here: A six-figure salary is ‘low income’ I remembered an observation that I kept forgetting to blog on. And I promptly forgot about it until yesterday after I wrote Why anti-PAP Save S’pore Fund won’t work.

I keep getting the sense from talking to young S’poreans and their parents and grandparents that more and more young S’poreans are asking out loud: “Can I get a job that will actually pay me enough to live on (let alone be able to have a family someday)?”

And their parents and grandparents fear that their children’s (or grandchildren’s) lives will not be better and more prosperous than their own: it’ll be worse, a lot worse. Many moons ago, one P (for Politician) Ravi (Remember him?) told me that his fear for his children’s future led him to stray from the narrow, white road of Hard Truths, even though he, his siblings and his mum had benefited from the PAP govt policies: the policies, combined with their efforts and a bit of luck, took them out from poverty. But he didn’t think the PAP’ govt’s policies will ensure that his children’s lives will be better and more prosperous than his own.

The Singapore Dream of the 5Cs of condominiums, cars, country clubs, cash and credit cards are no more. Most young S’poreans know they can’t afford  condominiums, cars and country clubs, and they’ll be always short of cash (all in CPF leh they’ll moan). And they know that maxing out on their credit cards is a sure way to bankruptcy: PAP govt tot them to count.

———————————————————————

NUS survey bears out my observation

Out of 25 aspects about living in the country, Singaporeans ranked the affordability of cars as being the least satisfied with, followed by the affordability of properties, cost of living, ratio of locals to foreigners, and affordability of healthcare.

“Increasingly (over the years), they are upset about the affordability of cars and properties, so you can surmise from there that they are concerned with the issue,” said Tan.

https://sg.news.yahoo.com/singaporeans-less-satisfied-quality-life-democratic-rights-nus-survey-130122483.html


So it’s not surprising that the young have different aspirations: an observation made by Mr Masagos Zulkifli, the Minister in charge of Muslim Affairs. The young are realistic of the possibilities of life under the PAP govt: only the rich and the anointed ones get richer, the rest pay and pay. Their parents and grandparents are also realistic about the young’s prospects.

The support for Dr Tan Cheng Bock in PE 2011 and his enduring popularity (despite the PAP’s increase of the popular vote in GE 2015 to 70% from 60%) shows that there are unhappy PAP voters out there waiting to be tapped: Why the PAP fears Dr Tan Cheng Bock.

Therein lies the opportunity for the Oppo.

But then the PAP can rely on the likes of Lim Tean: A disgraceful chamber of horrors and Silence of Goh Meng Seng (self-proclaimed Indian chiefs with no Indians behind them) to keep S’poreans fearful and contemptuous of a liberal democratic alternative to one-party rule.

With enemies like these two, how can the PAP ever lose? Sad.

Let’s hope they take the hints from Dr Tan Cheng Bock:

[S]ome may also need to stand down and serve from the backroom if it is for the good of the country.

I believe that the men and women I met yesterday, were more than willing to make way for better men and women who would stand in their place. They have guts. They have put themselves out there.

Somehow I don’t think they will. What do you think?

 

 

 

 

US winning big against China

In China on 06/08/2018 at 4:32 am

In a series of tweets on Saturday, Trump said the US market was “stronger than ever”, while the Chinese market “has dropped 27 per cent in last 4 months, and they are talking to us”.

He’s wrong about the “4 months” though: Chinese stocks have lost $2.29tn in value since their high in January, falling 27%.

Why anti-PAP Save S’pore Fund won’t work

In Uncategorized on 05/08/2018 at 9:59 am

Yesterday, I posted this Maybe to “Save S’pore Fund” but No to Lim Tean getting involved and said I’d explain later why the fund won’t raise any money.

Here’s why.

Recently, the Economist reminded readers of Dr Johnson’s response when Boswell asked whether the Giant’s Causeway in Northern Ireland was worth seeing, he replied: “Worth seeing, yes; but not worth going to see.”

Translated into the context of funding a “Save S’pore Fund” to defeat the PAP this means

 Worth having effective Oppo, yes; but not worth paying for.

This is the attitude most anti-PAP types* take going by how poorly funded the Oppo parties are.

Johnson’s “Worth seeing, yes; but not worth going to see,” also explains why TOC, TRE and The “Idiots” all have grateful, happy cybernut readers who are unwilling to pay to keep these publications going:

Worth reading, yes; but not worth paying to read.

Seriously, this is the attitude that S’poreans have towards online media in general, be it pro PAP, anti-PAP or anything in between.

Yes, yes: all this is a round about way of saying what Chris Kuan and abc say, “S’poreans are a bunch of cheap skates who deserve the PAP.”


*Especially in case the PAP really loses power. Let’s face it, the rabid anti-PAP types, especially the nutty ones define their very existence by their anti-PAPness. If PAP loses, they will have nothing to live for.

 

Give Peenoys, an inch

In Uncategorized on 05/08/2018 at 4:17 am

And they’ii take over the place

Vancouver’s

Catholic churches are now packed. At popular mass times, it is hard to find room to sit or kneel. But the sermon will probably be in Tagalog, the language of the Philippines.

Without the influx of pious Filipinos, it would be a different story. According to Pavel Reid of the Catholic archdiocese of Vancouver, the church would be closing parishes (as is the case elsewhere in Canada) were it not for the new arrivals from a land which is 80% Catholic. “Fifty years ago it was common to set up ‘ethnic’ parishes…but every parish is a Filipino parish now,” he says.

https://www.economist.com/erasmus/2018/07/25/new-canadians-are-injecting-vigour-into-the-countrys-religious-life

Maybe to “Save S’pore Fund” but No to Lim Tean getting involved

In Uncategorized on 04/08/2018 at 9:53 am

Interesting idea from a TRE reader that has a fatal flaw: he wants Lim Tean to be involved.

Drs Tan and Paul should not demean themselves and tarnish their reputations by associating with talk cock, sing-song artiste, Lim Tean. He’s a serial fund-raiser who then refuses to do anything with the money he has successful claimed he raised for

— defamation video* (claims he raised the $3000+)

— jobs rally* (claims he raised $20,000 for this)

— sue CPF fund

More details: No, Lim Tean hasn’t absconded.

Whatever here’s the ‘Save Singapore Fund

Start a ‘Save Singapore Fund’!:

Singaporeans know that the Opposition Parties can never match the Whites in terms of financial backing.

Therefore it would be ideal to start a “Save Singapore Fund’ that Singaporeans can contribute towards. Opposition parties can then seek help from the fund if there are in dire need of funds for the next GE.

The ‘Save Singapore Fund’ can be managed by Dr Tan Cheng Bock (Singaporeans trust him enough) together with Lim Tean and Dr Tambayah.

We should not expect Dr Tan to lead at his own expen$e, Singaporeans will want to support him and the Opposition parties if there is a Coalition to fight the Whites at the next GE.

Forget about WP!

Sounds interesting but I’ll soon blog on why even with Lim Tean not being involved the fund won’t take off.

 


*

The defamation video is in the process of being finalised . We are adding animation so it is taking a bit longer than expected . But we should be able to release it in the 1st half of November . Apologies for the delay .

As for the jobs rally , that was postponed because of the anticipated Presidential Elections and the ensuing outcry following the walkover . We are planning to put on the rally in November and have an exciting lineup of speakers . We intend to have a jobs rally like never before and will be informing Singaporeans of details soon !

Lim Tean to me in late October Update on Lim Tean’s video and rally

Remind Lim Tean, it’s December

Maybe Eric Tan (Remember him?Eric Tan is a gentleman) should replace Lim Tean in the set- up? He was WP Treasurer and is treasurer in an atas Rotary Club group: all rich people who are savvy enough to use SingHealth services.

US elite education and AI

In China on 04/08/2018 at 4:19 am

Big advances in AI research are more likely to come from the US due to our education system which needs improvement. But in use of AI in everyday life, China will lead

Cheetah Mobile’s Fu Sheng

Why Lim Tean should sit down and shut up

In Uncategorized on 03/08/2018 at 10:08 am

Lim Tean is now KPKBing about the Singhealth cyber breach, as are other cybernuts.

They should stop adding to climate change.

S’poreans are pragmatic. They know

The painful truth is that hacking is the price society pays for online convenience. It can be minimised, but never eliminated. Like stock theft, it will be normalised as a cost of business, because that is what it is.

Concluding para of Lex column in FT on why a bigger than initially reported breach of data from a UK listco has not affected its share price

Short of finding out that a senior SingHealth officer installed the malware (“An honest mistake”) or SingHealth used made-in China servers, the public accepts

that hacking is the price society pays for online convenience

And it’s a bit rich of Lim Tean to KPKB. He claims to have successfully raised money from the public for three projects. But then no picture, no sound: No, Lim Tean hasn’t absconded.

Which reminds me, one of the projects he raised money for was a video explaining how to avoid getting sued for defamation: S’poreans need this video. While he’s been making videos of himself KPKBing, the defamationvideo hasn’t appeared. He promised it for September and then November 2017.

It’s now August 2018. And he’s saying that the PAP is not delivering on anything. Pot calling kettke black.

One reason Tun wants to cause trouble with us on HSR

In Infrastructure on 03/08/2018 at 4:32 am

Why liddat?

Malaysia has yet to propose a meeting date with Singapore to discuss the Kuala Lumpur-Singapore High Speed Rail (HSR), said Singapore’s transport ministry on Wednesday night (Aug 1), a day after the deadline lapsed for Putrajaya to indicate its official position on the project.

Putrajaya has sent mixed signals on the HSR in recent months, with Malaysian premier Mahathir Mohamad and his Cabinet ministers vacillating between firm vows to cancel it and abrupt suggestions weeks later that hint at possible deferment of the project.

Because Tun is sending a dog whistle to the Malays that despite having a Chinese finance minister and tpt minister (traditionally a Chinese has always held this post), he’ll make life difficult for the ethnic Chinese?

‘In Southeast Asia, ethnically Chinese make up only 5% of the population but control between one and three quarters of the economy according to a range of indicators (such as business ownership, investment, capital or taxes paid). In Malaysia, only a quarter of the population are ethnic Chinese, but they own around 70% of business real estate and market capitalisation, control all the top private listed companies and make up eight out of the 10 richest people.’

http://theconversation.com/hard-work-not-confucian-mentality-underpins-chinese-success-overseas-70705

I’m BSing? Then explain why the econimic affairs minister, a Malay, and not the tpt minister (Chinese) is leading the talks on HSR?

Why even with 4G donkeys, PAP will retain power

In Political governance on 02/08/2018 at 12:39 pm

I have a low opinion of the probable 4G leaders, though to be fair it could be because when I was young we had the likes of LKY, Dr Goh, Toh Chin Chye, Lim Kim San, Barker etc. And we have Tharman today. And I’m also wondering why Lawrence Wong is not a contender to be PM: Lawrence Wong: a PM-in-waiting.

So you can understand why I’m underwhelmed by a shortie who got stroke and Kee Chiu (Why “Kee Chiu” got renamed “Kee Chui”) and Ong (Our new PM/ Trumpets pls for me).

So I had a disturbing laugh when a troller responded to this which has been appearing on FB pages of anti-PAP types, sane and nutty

Mahathir’s ‘underdog’ victory has also inspired four in five (80%) Singaporeans to take a closer look at their own emerging 4G leaders, whilst 70% think that the Malaysian election result will make more Singaporeans consider if they should vote for the ruling party at the next election.

http://www.blackbox.com.sg/youknowledge/2018/07/20/singaporeans-react-to-mahathirs-new-malaysia/

In response, one Adrian Tan trolled

They’ll consider. Then look at Oppo and see Lim Tean, Goh Meng Seng and other clowns. And conclude “Nothing can be worse than these talk cock sing song artistes”. And vote PAP as usual  or ?

He has a point. What do you think?

And don’t forget that for many of us in our 60s (self included), Mad Dog Chee is toxic: Chee reinvented SDP after making it toxic.

And he’ll soon defenestrate the guy that Dr Tan Cheng Bock praises: Akan Datang: Boodbath in the SDP.

So despite PM choosing a donkey to be PM (Makes him look gd by comparison? And gives the excuse for another Li Lee?), how can the PAP lose with enemies like Mad Dog, Lim Tean (No, Lim Tean hasn’t absconded) and Meng Seng?

—————————-

Meng Seng R Amos Yee

Will Roy, Meng Seng and s/o JBJ help Amos now?

What Amos and Meng Seng have in common? Con’td

———————————————————————–

Its scrapping the barrel. Sad.

We really should have more people like the young Mr Chiam, Dr Paul, Dr Ang Yong Guan, Leon Perera: A Lion of a Man and Show Mao (even if he has disappointed as an MP). Even Low, Auntie and her Bayee, and the other parly Wankers are a lot better rather than the clowns at the meeting of the Coalition of the Spastics that are trying hard to get associated with Dr Tan Cheng Bock: Waz the point Mad Dog? Where are the Wankers?

 

HoHoHo: StanChart disappoints, again

In Banks, China, Emerging markets, Hong Kong, Temasek on 02/08/2018 at 3:56 am

On Tuesday (London time), StanChart reported half-year operating income of US$7.6bn, 6% more than in the same period last year. The stock dropped 3.5% trading because operating income was below expectations. Blame higher IT spending: costs in general have outgrown revenues by a whole percentage point. Not good.

FT’s Lex

StanChart investors must be counting on costs soon falling, relative to revenues. The hope should be for a leaner and cleaner bank ready to grow at the bottom of the next cycle.

adding

Shares in HSBC, another London-listed bank with an Asian focus, have climbed 63 per cent in the past two years, compared to 13 per cent at StanChart.

 

 

Laments of a TRE cybernut

In Humour on 01/08/2018 at 10:49 am

Have a good laugh

Rabble-rouser:

Change what? 70% have spoken as a majority preferring to be under the horrible PAP rule.
1. JB Jeyaretnam already died on 30/9/2008, almost a decade ago. He died in vain
2. Chiam See Tong is already suffering from old age; out of Parliament & Potong Pasir SMC. He fought in vain
3. Dr Chee Soon Juan is impotent – can’t even get elected to Parliament because Bukit Baton residents preferred PAP stooge, Murali. He can’t even get out of the starting gate.
4. WP is a silent party – contented with collecting $16/Mth for each MP until the next GE. Isn’t they a PAP Lite party?
5. Vocal critics like Roy Ngerng, Amos Yee, Han Hui Hui have given up fighting & left our shores. Nobody supported them but criticised them instead.
6. Since the 1990s when SDP won 3 seats, the opposition had not made much headway because the S’poreans are too “chicken schit” & too selfish to vote for change.
7. Opposition parties is too fragmented & selfish only care for their own agenda.
8. Those who can had already exited to overseas including PM LHL’s own brother LHY, those remaining are dying by the day continually trampled on by the million $ ministers.
9. The only way for change is a tumultuous event. Otherwise S’pore is an event horizon – a point of no return (ie. drifting into a void). In short, S’pore still stuck in the mud.
10. ‘Live it or leave it’ is typical of S’porean (Sinkies) mentality – you need to think out of the box but too many (70%) are simply stuck inside the box! A case of learned helplessness!

Ah Ha:
Love it or leave it because you are too chicken schit to change it!

Peenoys give the lie to the importance of press freedom

In Indonesia, Media, Vietnam on 01/08/2018 at 4:54 am

In Prosperity with S’porean, Chinese characteristics I quoted the typical ang moh view that

The case for a free press rests not only on classical liberal principles but also on hard data. Cross-country studies show strong and consistent associations between unfettered media, vibrant democracies and limited corruption.

Peenoy Land has a very free press, couresy of American rule, but look at how poor its people are compared to four other Asean countries, three in which press freedom is an expensive luxury. Only Indonesia has a free press.

Akan Datang: Boodbath in the SDP

In Uncategorized on 31/07/2018 at 10:53 am

Or “Why Dr Tan Cheng Bock’s words of wisdom will cause Mad Dog to start a purge in the SDP”

“I know men like Paul Tambayah is a 1st rate human being and doctor who cares for the country. I find it hard to label him otherwise.”

Part of Tan Cheng Bock’s Facebook post that was in response to Derek de Cunha’s statement that Tan Cheng Bock would tarnish his reputation by mixing with “third, fourth, fifth rate politicians.” (Waz the point Mad Dog? Where are the Wankers?)

Well he didn’t say such nice things about Dr Chee, Lim Tean, Goh Meng Seng, Pwee and the other oppo clowns politicans present at the meeting: Tambayah (Reminder: SDP’s chairman) wasn’t at the meeting because as he later said on FB, he had a long-standing previous engagement to attend.

The praising of Dr Tambayah is particularly telling as the only words of praise of the clowns were

To be fair, many from the 7 parties stood in past elections because they believed they acted in Singapore’s best interests.

Dr Tan didn’t say he believed that they acted in Singapore’s best interests, only that “they believed they acted in Singapore’s best interests”.

Whatever, all the best to Dr Tambayah though I wouldn’t be surprise to see (OK, OK I’m predicting) Paul torn to bits soon by Mad Dog when he (Mad Dog) realises that Dr Tan is referring to him (Mad Dog) when Dr Tan talks of
some may also need to stand down and serve from the backroom if it is for the good of the country.
Mad Dog will get rid of Dr Tambayah, and the many young PMETs that joined him in the SDP will leave, if they are not also defenestrated alongside Dr Tambayah, leaving behind the clowns and losers.
Look at what happened to Mr Chiam and the SDP when Mad Dog realised that Chiam realised the threat to the SDP and S’pore that Mad Dog was posing with his antics.
The result? SDP lost all its MPs and went into the Wilderness. There it has remained since then, toxic and unelectable: Chee reinvented SDP after making it toxic.
Dr Tambayah and allies were changing this perception but they’ll be purged sooner than later.
Sad.
Btw, I really I hope that Mad Dog proves me wrong by stepping down or at least not tearing Dr Dr Tambayah to shreds. But I’m not holding my breath.

 

Trump’s tax cuts saved the world

In Uncategorized on 31/07/2018 at 5:28 am

The transition away from easy money has always seemed the most perilous step of the plan to deal with the crisis of 2008

Well with US growing at 4.1% thanks in large part to the tax cut that Trump pushed for, the transition is proving less perilous.

Still plenty of things can go wrong as the volatility in markets show but a growing US ecomony helps keep investores sanguine.

Waz the point Mad Dog? Where are the Wankers?

In Uncategorized on 30/07/2018 at 10:43 am

 

 

At a working lunch hosted by the SDP this afternoon, several opposition parties came together to explore the possibility of working closer together to present a unified front at the next elections.

The SDP also took the opportunity to propose that presidential candidate Dr Tan Cheng Bock help lead the effort in building such a coalition. Those present welcomed the move.

“With his experience and leadership,” Dr Chee Soon Juan said, “the SDP is confident that Dr Tan will be able to lead the effort.”

The former People’s Action Party MP, who attended the meeting as an observer, said: “If you want me to lead, then we must think of country first. If we go in, we must go in as a team.”

The WP are right to avoid this Coalition of the Losers and I’m sad Dr Tan associates himself with this bunch of losers and scoundrels. Think No, Lim Tean hasn’t absconded and Silence of Goh Meng Seng

The Alliance of Hope is different. Its predecessor won more votes than BN in the previous GE, and in 2004 deprived BN of two-thirds majority. Here the PAP won big time in 2015, after a bad showing in 2011 (Only 60% of the popular vote and lost Aljunied GRC lah). Remember the PAP almost recaptured Aljunied.

I agree with the views here: https://www.facebook.com/DerekdaCunha/posts/10157224801363797

All six of these “parties” (here “parties” is used loosely) mentioned, plus the SDP, represent political deadweight.

I respect Dr Tan Cheng Bock. But mixing with this particular crowd – which in the pecking order of non-PAP parties rank as 3rd, 4th and 5th raters — will not do anything for his reputation. He will simply be tarnishing his reputation. He should display a bit more discernment. If he intends to stand at the next GE, he should do so as an independent or as part of a team of independents contesting a GRC.

I have analysed elections in Singapore long enough to know that you cannot underestimate the Singapore voter’s visceral distaste for a number of opposition personalities. Even a severely underperforming PAP will not move a segment of the electorate to vote against it if the alternative is truly 3rd, 4th and 5th raters.

I’ll be less polite. Think Mad Dog Chee and Goh Meng Seng when u read

you cannot underestimate the Singapore voter’s visceral distaste for a number of opposition personalities.

Lim Tean will be joining them if he doesn’t carry out his promises (Remind Lim Tean, it’s December) despite raising money from the public.

 

 

 

 

Cannot call Bayee “turban man”

In Humour on 30/07/2018 at 6:32 am

Two US radio DJs have been taken off air after calling the nation’s first Sikh state attorney general “turban man” during a segment.

https://www.bbc.co.uk/news/world-us-canada-44972100

So waz so special about the land of the free, where the buffalo roam, Amos?

So different here:

2018, another bad yr for SMEs

Want to grow SMEs? Identify well managed SMEs

Can any how call PAPpy loved by cybernuts Turban Man.

Time to investigate if housing developers screw public by colluding?

In Economy, Property, Public Administration on 29/07/2018 at 10:47 am

“Unsold number of private properties hit 3-year high as prices continue to rise” screamed headline from a department of the constructive nation-building media.

Bit strange that prices go up when there’s plenty of unsold stock. Shumething not right.

Then this caught my attention (emphasis mine)

Ms Christine Li, senior director of research at real-estate services firm Cushman & Wakefield, attributed the three-year high of unsold numbers of private housing units to the likelihood that developers are spacing out their launches, to avoid direct competitions from nearby projects due to the increased supply.

https://www.todayonline.com/singapore/private-home-prices-climbed-34-second-quarter-2018

Time for the Competition and Consumer Commission of Singapore to investigate if there is illegal collusion or other illegal practices among developers that cause housing prices to be higher than if there were no collusion etc. They juz squeezed Grab’s balls,

S’poreans and mainlanders are the real Chinese

In China, Hong Kong, Property on 29/07/2018 at 5:12 am

Honkies and Taiwanese are not,

We and mainlanders don’t believe in renting short term (99 yr leases are not short term rental leases no matter what Goh Meng Seng and other cybernuts think)

Another reason why the PAP rules OK

In Political governance, Public Administration on 28/07/2018 at 11:17 am

Another area where S’pore is tops, because of the PAP govt, is in “state capacity”.

Research from political scientist Lant Pritchett and others has shown that of the world’s 102 “historically developing” states, only eight have managed to develop what he describes as “high capacity” governments. True, three of those — Brunei, Singapore and South Korea — are in Asia. But Pritchett’s bar is actually pretty low: a high capacity government, he suggests, is one with institutions roughly as good as those found in Uruguay.

Worse, it is all too common to see periods of rapid state capacity degradation. Almost no country has managed to follow Singapore and persistently improve its government, decade after decade. Between 1996 and 2012, for instance, Pritchett’s work shows that the quality of Malaysia’s state declined moderately, while the Philippines declined rapidly. Both countries’ performances over the last five years seems likely to have been even worse.

Part of the problem stems from a widespread misunderstanding about what state capacity actually means. At some level a well-functioning government does indeed need basic capabilities, such as the ability to fund and run an army, or to make the railways run on time. But as James Robinson argued at a conference I attended in India in mid-June, it also means a state that has popular legitimacy amongst its people.

States work better when their citizens, and in particular the powerful middle classes, voluntarily pay their taxes and obey laws without the need for expensive enforcement, because they view their government as acting broadly in the common interest. By contrast, government works less well when the elite is seen to be largely serving their self-interests, as was the case with the obvious venality of Malaysia’s ruling party over the last decade.

https://asia.nikkei.com/Opinion/Asian-governments-must-escape-the-state-capacity-trap

What is state capacity?

State capacity has become something of a buzzword amongst policy makers trying to understand how countries develop. It underpins the work of MIT’s Daron Acemoglu and Chicago University’s James Robinson, whose celebrated 2012 book “Why Nations Fail” argued that good institutions support development, rather than other factors like geography or culture. The idea of state capacity has also found widespread favor in bodies like the World Bank, as well as amongst influential thinkers like Arvind Subramanian, India’s chief economic adviser.

No wonder 60-70% vote PAP despite PAP cock-ups like

— MRT system that is not first world

— S’pore like this?

— The real truths about public housing

— Akan Datang: Why CPF Life payments will begin at 85

— MAS gives finger to CSA’s CEO

 

 

 

 

 

 

 

 

 

Ho Ho Ho: StanChart still in jail

In Banks, Emerging markets, Temasek on 28/07/2018 at 7:14 am

Standard Chartered (STAN.L) has agreed to a further extension of its U.S. deferred prosecution agreement (DPA) until the end of December this year, it said on Friday.

StanChart entered the DPA with the U.S. Department of Justice and New York County District Attorney’s Office in December 2012, accepting that it had broken laws by processing payments for sanctions targets in countries including Iran, Burma, Sudan and Libya.

The bank avoided prosecution in exchange for a cash settlement of $327 million and an agreement with the U.S. authorities to improve its sanctions compliance.

The DPA was extended for three years in 2014 and a further nine months in November 2017 as StanChart sought to strengthen its controls under the scrutiny of an independent monitor.

https://www.reuters.com/article/us-stanchart-deferred-prosecution-agreem/standard-chartered-agrees-extension-of-u-s-deferred-prosecution-agreements-idUSKBN1KH24B

 

Hongkies love PAP govt, diss their govt

In Hong Kong on 27/07/2018 at 11:22 am

TOC, The Indians and other cybernut pubkications don’t report: “Hongkongers admire Singapore more than own city”

In a University of Hong Kong Public Opinion Programme poll asking 502 Hongkongers how they feel about different governments, the Lion City came out on top in a list of 14 places.

In contrast, Hong Kong was ranked 11th and Canada slipped to 2nd, from 1st in August last year. The US was at the bottom of the list of places that included regions in Greater China and other countries

https://www.scmp.com/news/hong-kong/community/article/2156855/hong-kongs-love-affair-singapore-continues-residents-give

Note that the piece not written by any of the ex-ST constructive, nation-building journalists in the SCMP newsroom. They now rather bite the hand that once fed them well. Once a Judas, always a Judas.

Anyway grass ia always greener on the other side. Juz ask Goh Meng Seng who even thinks that the cost of housing is lower in HK. Can you believe that? But then he’s a cybernut who helped the PAP’s preferred candidate win in 2011 PE. With enemies like him, how can the PAP ever lose?

 

Made in China

In China on 27/07/2018 at 5:20 am

the ARJ-21, a disaster of an aircraft that the country’s own regulators forbid from flying in the rain for safety reasons.

Economist

Lucky we only bot PRC railway carriages, not trains. For once Hard Truth that ang moh tua kee is betterest turned out well, even if ang moh is French, not German.

Prosperity with S’porean, Chinese characteristics

In China, Media on 26/07/2018 at 10:56 am

Unique to both China and S’pore

Further to Bang yr balls ang moh tua kees

The case for a free press rests not only on classical liberal principles but also on hard data. Cross-country studies show strong and consistent associations between unfettered media, vibrant democracies and limited corruption. China, which has a tightly controlled media and perhaps the world’s most sophisticated censorship scheme, thinks it has proven that prosperity can be achieved without a free press. In less extreme fashion, Singapore shares similar authoritarian attitudes. Politicians everywhere do not much like to be criticised. To a worrying number of them, this Singapore model—or Beijing model, depending on preference—can prove more attractive than the Western approach of putting up with a pesky press.

https://www.economist.com/graphic-detail/2018/07/23/the-global-slump-in-press-freedom

Related posts

PAP’s bible challenges “market-based solution”

The PAP way is the American corporate way

Keeping power in a one-party state

M’sia: Shumethings never change

In Malaysia on 26/07/2018 at 7:00 am

Malaysian businesses anticipate a chaotic switch to the sales and services tax (SST) in September, as there will be only three days to adjust their systems once the tax is made into law.

Despite the fact that the SST is a single-stage tax, trade groups said their members are concerned as they are unsure about the different taxes for goods and services.

https://www.todayonline.com/world/msian-businesses-expect-chaotic-transition-new-sales-tax

And our anti-PAP types and cybernuts are saying we can learn from M’sia, praising an ang moh columnist who said so?

Sad

MAS gives finger to CSA’s CEO

In Internet, Public Administration on 25/07/2018 at 11:00 am

Remember CSA’s CEO downplaying the loss of NRIC numbers etc (Is Computer Security Agency CEO talking thru his ass about stolen info?)?

Should you be worried?

In short, not really, said the authorities. CSA chief executive David Koh said the stolen information are “basic demographic data”.

Constructive, nation-building CNA

Well it’s now clear that the central bank for one thinks he’s talking cock

“With immediate effect, all financial institutions should not rely solely on the types of information stolen (name, NRIC number, address, gender, race, and date of birth) for customer verification,” MAS said in a statement.

“Additional information must be used for verification before undertaking transactions for the customer. This may include, for instance, One-Time Password, PIN, biometrics, last transaction date or amount, etc.”

 

 

Bang yr balls ang moh tua kees

In Media on 25/07/2018 at 4:33 am

While the continued success of Pink Dot despite the ban of funding from ang mohs shows that S’poreans have rightly in my view bot into the liberal narrative about LGBTs, history is not on the side of the ang moh tua kees when it comes to press freedom.

ACROSS the world, freedom of the press is atrophying. According to scores compiled by Freedom House, a think-tank, the muzzling of journalists and independent news media is at its worst point in 13 years. According to the Committee to Protect Journalists, the number of journalists jailed for their work is at the highest level since the 1990s.

https://www.economist.com/graphic-detail/2018/07/23/the-global-slump-in-press-freedom

Feeling frus, ang moh tua kee? Go bugger someone from a lower socio-economic class.

Mom trying to out BS CSA’s CEO

In Economy, Public Administration on 24/07/2018 at 10:45 am

Here I reported that CSA’s CEO downplayed the importance of the loss of NRIC numbers, names and addresses: Is Computer Security Agency CEO talking thru his ass about stolen info?

Well Mom is almost as bad in its PR BS. After the constructive, nation-building digital newspaper belonging to Mediacorp asked Mom to comment on the following

Hundreds of IBM Singapore employees are being laid off, amid the technology giant’s global restructuring efforts.

The firm is cutting manpower from its Singapore Technology Park, a manufacturing plant at Tampines, as it is relocating manufacturing of its Power Systems product to a facility in Guadalajara, Mexico.

IBM staff and subcontractors told TODAY that at least 200 people were being laid off, and they comprised Singaporeans and foreigners working in a variety of positions. They included blue-collar workers, professionals, managers, executives and technicians (PMETs).

https://www.todayonline.com/singapore/ibm-singapore-lays-workers-its-tampines-plant

a Mom spokesperson said:

 “We do not comment on any impending or speculative restructuring exercises of any company.”

Excuse me, people have been retrenched. It’s not

any impending or speculative restructuring exercises of any company.

It has happened. It;s not

any impending or speculative restructuring exercises of any company.

Doubtless the Mom spokesperson and the CEO of CSA are from Bizarro S’pore like PM and Tharman:

PM visiting from Bizarro S’pore?

Tharman also from Bizarro S’pore?

Does the “T” in FT stand for “Talent” or “Trash”

In Humour on 24/07/2018 at 6:27 am

Benzema: ‘When I score I’m French, when I don’t I’m an Arab’

Lukaku: ‘When things were going well, I was Lukaku the Belgian striker…when they weren’t going well, I was the Belgian striker of Congolese descent’

Ozil: ‘When we win, I am German. When we lose, I am an immigrant’

But in S’pore if u are a ping pong player from PRC Land, win or lose, u are not S’porean.

Eugene Tan must be breaking record in ass licking

In Media on 23/07/2018 at 10:39 am

Wow noted PAP brown noser quoted licking PAP govt’s ass twice in one day. Must be a record.

Pointing out that the CIMO model has been unfairly “scapegoated”, law lecturer Eugene Tan said it is an important manifestation of how the country “recognises there are different races”, especially the minorities. Removing it might not necessarily be a silver bullet, he added.

Associate Professor Tan said that while Singapore is on a journey to become “race blind”, its policies may have to be “race conscious”, as he too cited the reserved presidency.

While ethnic-related policies have helped promote and strengthen ethnic identities, too much of it could “stifle the nation-building process”, he added.

Playing a “numbers game”, and counting what “each group gets” in terms of benefits could be dangerous and set Singapore down a slippery path, said Assoc Prof Tan. One also has to be careful not to set aside meritocracy for multiracialism, or a situation of “reverse discrimination”.

For the younger generation who might share a “collective amnesia” about independent Singapore’s origins, it is important to constantly drill home the knowledge about “who we are and how we came about”, added Assoc Prof Tan.

https://atans1.wordpress.com/wp-admin/post.php?post=42214&action=edit

And

Assoc Prof Tan cautioned that there is a need for Singapore to protect its own interests and sovereignty: “If we’re seen as pushovers such that people can renege on their original agreement, then in future, other countries will not take us seriously on the world stage.”

He added that Singapore is unlikely to accommodate any attempt to change the agreement fundamentally, which would put it in a bad light and raise questions over whether the agreement was fair in the first place.

“We would also want to promote the sanctity of these agreements, because our position is, of course, that the agreements were properly entered into and both countries had the benefit of advice, ranging from legal to non-legal,” Assoc Prof Tan said.

“Ultimately, a lot depends on the Malaysians providing further and better particulars as to what it is that they want.”

https://www.todayonline.com/singapore/malaysia-must-make-clear-its-plan-kl-spore-high-speed-rail-further-delay-could-hurt-both

Wonder if he’ll be brought out to lick the ass (or worse) of the CEO of CSA: Is Computer Security Agency CEO talking thru his ass about stolen info?

Is Computer Security Agency CEO talking thru his ass about stolen info?

In Internet, Media, Public Administration on 22/07/2018 at 10:32 am

I went WTF when I read this from the constructive, nation-building CNA:

Should you be worried?

In short, not really, said the authorities. CSA chief executive David Koh said the stolen information are “basic demographic data”.

“We are watching to see if anything appears on the Internet both in the open and in some of the less well-known websites,” he added, noting that this has occasionally happened in past data breaches.

“But considering the type of data that’s been exfiltrated, it is – from our professional experience – unlikely that these will appear, because there is no strong commercial value to these types of data.”

Read more at https://www.channelnewsasia.com/news/singapore/singhealth-cyberattack-what-you-need-to-know-10549096

I repeat WTF. NRIC numbers were stolen as were names and addresses. Before this loss of info, we had been told by the PAP govt and private sector cyber security experts that the NRIC number is very important personal data and that when a criminal has access to our i/c number, address and name, lialat: could be vulnerable to all kinds of online crime. So this not true isit?

I had also read in an earlier CNA report

[C]ybersecurity expert, Mr Leonard Kleinman, pointed out that medical data contains a trove of information – from personally identifiable data to financial details – “that can be used to create a highly sought-after composite of an individual”.

Such pilfered data can fetch a high price on the dark Web, with each entry potentially selling for US$50 to US$100 more than stolen credit card data, said Mr Kleinman, who is the chief Cyber Security Advisor at RSA Asia Pacific and Japan.

“As it could contain any amount and level of information, healthcare institutions are among the most sought-after industries by criminals who can be motivated by a multitude of possible reasons,” he said.

The executive also cautioned that the fallout of such a hack may not be immediately felt either, as it could “take months” for the data to be first sold, then used.

“Given the nature of this attack, it is hard to say exactly what the end game is, especially when the attackers haven’t identified themselves,” Mr Kleinman added.

Darktrace Asia Pacific managing director Sanjay Aurora told Channel NewsAsia in an email that it can only speculate on the hacker’s motives, but medical information, like other kinds of personal data, can be easily monetised.

That said, beyond making a quick buck, Mr Aurora said a more “sinister reason” could be to cause widespread disruption and systemic damage to the healthcare service or to undermine trust in a nation’s competency to keep personal data safe.

Read more at https://www.channelnewsasia.com/news/singapore/singhealth-cyberattack-likely-nation-state-medical-data-price-10549372

So is the PAP govt downplaying the importance of the loss of info?

And if it is, why isn’t the constructive, nation-building media not signing from the same sheet?

So why so cock?

In CPF, Financial competency, Financial planning on 22/07/2018 at 3:59 am

“I’m retired so this was going to be a key part of my income but now, not just the income, I have to be worried about my capital. My kids are going to university soon so I have to figure another way out.”Read more at https://www.channelnewsasia.com/news/business/hyflux-shareholders-townhall-meet-management-first-time-10545662

So why did he buy Hyflux debt in the first place?

A fool and his money are soon parted.

Btw, remember to use yr CPF normal account as yr savings account

Using yr CPF OA as a savings account

Oldies use yr CPF acct as savings, fixed deposit account

Low birth rates do not cause serious economic problems

In Economy on 21/07/2018 at 11:12 am

This is a follow up to Average S’poreans smarter than scholar ministers where I pointed out that having children doesn’t help in getting the 5Cs:: the PAP is wrong to asset that low birth rates cresult in serious economic problems, even if it is conventional wisdom.

Demographic decline does not imply falling prosperity, however. If anything, it is easier to improve average lifestyles with shrinking populations. Without population growth, there is less need for expensive investments in housing, infrastructure and capital goods.

True, a higher portion of the smaller populations will be elderly people who need pensions and labour-intensive assistance. Even so, there are already well-developed systems to provide them with money, healthcare and specialised residences. The forthcoming shift in age groupings will mostly mean more of the same.

Some people worry the shift will be unbearably large. They expect a shortage of care workers and recommend more immigration. That sounds excessive. It should be possible to rebalance service sectors to match needs. The rapid pace of job destruction from automation should help.

https://www.reuters.com/article/us-global-economics-breakingviews/breakingviews-hadas-global-case-of-baby-fever-is-easily-cured-idUSKBN1K813Z

So far so good but here’s the problem. Taxes got to go up to support us oldies

What is true is that governments will have to do some serious governing. One task is to persuade citizens to pay higher taxes to support people too old to work.

Then there’s the need for higher state debt

Some financial muscle also will be necessary. If nominal GDP growth stops or turns into a decline, money for debt payments is bound to be in short supply. Governments may have to maintain economic confidence when debts go bad.

That could be a lot of work, and politically problematic. Mature markets, where the demographic challenges are greatest, have been building up trouble. Between 1997 and 2017, the ratio of debt to GDP increased from an already worrying 266 percent to a stunning 382 percent, according to the Institute of International Finance.

In theory, though, the task should be manageable. After all, powerful governments can give financial regulators and central banks all the authority they need. And it should be easier to rearrange the money system than to push up birth rates.

Any multinational deleveraging will undoubtedly be socially challenging. That just means now is a good time to start figuring out how to deliver more practical solutions than babies.

https://www.reuters.com/article/us-global-economics-breakingviews/breakingviews-hadas-global-case-of-baby-fever-is-easily-cured-idUSKBN1K813Z

Chinese tariffs on US soya backfiring

In China, Commodities on 21/07/2018 at 4:28 am

US soyabean prices plus the tariffs and freight to China were approaching parity with Brazilian soyabeans and shipping costs, limiting a further move upwards on the premium unless there was a dramatic shift in Chinese demand.

FT on Thourday

Chinese will be paying a lot more for soya and meat.

Average S’poreans smarter than scholar ministers

In Financial competency, Financial planning on 20/07/2018 at 11:10 am

They cottoned on a long time ago that having babies didn’t help them in the pursuit of the 5Cs.

It’s time for governments to accept a basic truth of the 21st century political economy: Children are an economic drag for parents …

Putin introduced major subsidies for parents. Russian fertility subsequently increased, but hardly enough to matter. The 1.7 rate of 2015 remained well below the replacement level. And an 11 percent decline in births in 2017 suggests the effects of governmental birth subsidies are fading.

That pattern is common. After the Hungarian government brought in some of the world’s most generous child subsidies, the average birth rate increased only from 1.2 to 1.5. The plain fact is that governments cannot pay people to have more babies. Lower taxes, more subsidised childcare, easier access to housing and so forth do little, and not for long.

The economic logic is impeccable. No government can afford to give parents enough money to keep children from being more cost than benefit. Kids are expensive to feed, and middle-class offspring these days absolutely need expensive holidays, extra schooling and a panoply of consumer goods.

For whatever immeasurable happiness parenting may provide, it does not bring much long-term economic gain. When kids grow up and start working for pay, they rarely put much into the extended family’s coffers. If anything, they take up residence in parental attics for longer and welcome a bit of assistance stepping onto the housing ladder. Older people also now expect support from personal savings and government benefits, not their children.

Child-rearing also hurts incomes. Moms and dads often find that the commitments of time and worry slow professional advancement. Fewer children inevitably equate to lesser impediments.

All in all, it is clear that in this modern world most people will only have children because they want to. Since monetary considerations are secondary, what economists would call the subsidy-elasticity of demand is very low.

https://www.reuters.com/article/us-global-economics-breakingviews/breakingviews-hadas-global-case-of-baby-fever-is-easily-cured-idUSKBN1K813Z

 

 

M’sia right to fear Chinese gifts

In China, Malaysia on 20/07/2018 at 4:05 am

Because they are Indian givers, as this highway to nowhere proves https://www.reuters.com/article/us-china-silkroad-europe-montenegro-insi/chinese-highway-to-nowhere-haunts-montenegro-idUSKBN1K60QX

Bringing in Chinese companies to build billions of dollars worth of freeways never seemed like a good idea in Montenegro, a southern European country of just over 600,000 people. But now the debt load of one such project has forced the country to freeze some public sector wages and even end a government benefit for mothers.

 

TOC unmasks itself

In Uncategorized on 19/07/2018 at 11:04 am

Years ago I told Terry of Terry’s Online Channel that he was anti-PAP. He denied it saying that he would support a PAP policy if tot it would help the poor or correct an injustice.

After I posted TOC misrepresents facts yet again

I read this post

Terry Xu
People asks me, or tell me, how good the Pap government is and that we should be appreciative of this fact. While it may be comparatively true with our neighbours who had despotic leaders, but until you see the things I see, and experienced, which cannot be reported because it is illegal to do so, you would have no idea how rotten is this country behind the elaborate facade.

Singapore and Singaporeans can achieve much more with what we have today but not with this ruling party and its cronies changing laws and maintaining archaic colonial rules for its own interest.

It is naive to think that a party that has all the powers at its disposal will be humble and push for changes especially when cronyism is so rampant in the country. Don’t lie to yourself when you say there is real meritocracy and xxxx in Singapore.

The fact that I can’t type out the words represented by xxxx, just shows how dire the situation is for Singapore.

Do you want to live in aspiration or in constant fear of the government?

People who support and is part of this whole oppression ought to think about how history will judge your involvement for the sake of self perseverance or in most cases, simply the high pay. Just look at the world and back at history to realise that a change of regime is not impossible and that the Internet never forgets.

Need I say more about his denial of not being anti-PAP?

M’sia undecided on HSR

In Infrastructure, Malaysia on 19/07/2018 at 4:35 am

So how can Tun say S’pore knows what M’sia wants? Senile. Sad.

Malaysia’s Economic Affairs Minister Mohamed Azmin Ali. said that Malaysia has not excluded the possibility of the project continuing, but will not make any suggestions unless there is a consensus from both countries.

https://www.theedgesingapore.com/malaysia-lead-delegation-singapore-discuss-fate-hsr-project

More from Edge.

Malaysia will soon have a discussion with Singapore regarding the high-speed rail (HSR) project, according to Malaysia’s Economic Affairs Minister Mohamed Azmin Ali.

Azmin will be leading a delegation to Singapore for the discussion with Transport Minister Khaw Boon Wan and to safeguard the diplomatic relationship between both countries by the end of the month.

“We are looking at all the available options. The bilateral agreement on the HSR provides for either party to cancel the project. This however, is subjected to the terms and conditions of the agreement,” says Azmin.

He also stressed that any agreements signed must be fair and just to both parties.

Read Najib’s very valid comments on the costings. Minister’s reply shows that M’saian govt talking cock.

Meanwhile, Malaysia’s former prime minister Najib Razak asked in Parliament, “The international open tender only ends on Dec 28, 2018 and both governments would decide on the bids. The total cost of the project is not yet known, but it would competitive. Some countries would give loans at 0% or 0.1%.”

“So how can the government say it would cost RM110 billion, when the tender is not closed?” Najib asked.

Azmin replied saying that these calculations are “just costing” at the meantime and were made by the Finance Ministry, who also found that there were hidden costs in the project, which were not revealed earlier.

Nonetheless, the minister also said that Malaysia has not excluded the possibility of the project continuing, but will not make any suggestions unless there is a consensus from both countries.

Malaysia had previously announced that they intend to cancel the project, but has since brought it back up for review, if the cost is reduced by half.

PAP’s kung fu with tax payers’ money cont’d

In Political governance, Public Administration on 18/07/2018 at 10:59 am

In response to SDP’s chairman’s views quoted in PAP’s kung fu with tax payers’ money 

Even though Dr Tambyah says he reiterated that ‘it’s your money that went into this wheelchair’, his patient ‘refused to accept’ it.

“This was a guy I’d been looking after for 10 years. He knew me. We got on with each other very well. But at the same time, he felt indebted to the ruling party politician because she was able to, in his mind, provide him with mobility.”

the retired NUS professor I quoted extensively in  PAP’s cock-ups since the 1980s  and Why the PAP thinks it is infallible argues that the SDP chairman is peeing on the wrong tree

Tambyah expressed himself badly, and may also have the wrong conceptual framework: the guy obviously knows that government spends taxpayer money, but it is other people’s money which the government collected and spent on his behalf; why should the guy not feel appreciative?

it is the government’s job to take money from those who have some to spare, and spend it where it is needed; there is no sin in that, just question of how well it does so; if Tambyah thinks there is something wrong with this, then he has the wrong conceptual framework about government; but I think it is probably a case of laziness: “u r spending our money” is an easy stick to grab; it can sometimes work, e.g., Roy Ngern’s “give back our CPF” did work for a while – nearly launched several new political careers; similarly, PJ Thum’s “government tells lies”, Kirsten’s “SG is repressive, becoming more so” are for the moment still working

Wondering out loud: maybe in treating Mad Dog Chee, Dr Paul got infected? Juz wondering. Juz saying. LOL.

Seriously, I think Dr Paul has yet to be bitten by Mad Dog. He was trying to make the point that the PAP works very hard to personalise govt funding to its advantage, using the example of his patient

(Minister) Grace Fu gave us this wheelchair.’ Then I said, ‘She didn’t give you the wheelchair. This is paid for by your taxes’.

“He said, ‘No, no no, she came to my house with an entourage of people, with her photographers and she gave me the wheelchair’.”

 

 

Why I not KPKBing about MediShield Life

In Public Administration on 18/07/2018 at 5:34 am

… while he feels that MediShield Life is inadequate in terms of making healthcare affordable to the masses, he acknowledges that it is “a huge advance in that it took in people with pre-existing conditions”.

https://www.channelnewsasia.com/news/singapore/paul-tambyah-chairman-singapore-democratic-party-on-the-record-10527550

It’s really a big step from Hard Truths that it took in people with pre-existing conditions. The PAP is slowly but surely adapting itself to the realities of a modern, developed society.

Declaration of interest: I paid “peanuts” for my second cataract operation (first one was $1000 ++) because it was heavily covered under Medishield because it was the second eye operation within a yr.

Related post: Will Gleneagles sandwich cost me a fortune?

PAP’s kung fu with tax payers’ money

In Political governance, Public Administration on 17/07/2018 at 11:00 am

PAP knows how to make yr money its money and make you grateful for it spending money on you.

Those were my tots when I read Dr Paul Tambyah:

[t]he PAP’s ability to mobilise state resources in other ways is “very, very difficult to try to go up against”, he says.

“During my first clinic session after the election, a patient of mine who I’ve been treating for many years wheeled himself into the room in his motorised wheelchair and he said, ‘Doc, you guys ran a good campaign. Too bad you all lost.’ I said, ‘Thank you. By the way, where do you live?’ Then he said, ‘We live in Yuhua, but you know, (Minister) Grace Fu gave us this wheelchair.’ Then I said, ‘She didn’t give you the wheelchair. This is paid for by your taxes’.

“He said, ‘No, no no, she came to my house with an entourage of people, with her photographers and she gave me the wheelchair’.”

Even though Dr Tambyah says he reiterated that ‘it’s your money that went into this wheelchair’, his patient ‘refused to accept’ it.

“This was a guy I’d been looking after for 10 years. He knew me. We got on with each other very well. But at the same time, he felt indebted to the ruling party politician because she was able to, in his mind, provide him with mobility.”

Read more at https://www.channelnewsasia.com/news/singapore/paul-tambyah-chairman-singapore-democratic-party-on-the-record-10527550

Related post written in Sept 2012: Time for Opposition to rethink assumptions, lest it repents after next GE

TOC misrepresents facts yet again

In Accounting, Temasek on 17/07/2018 at 5:22 am

When Temasek released its details, TOC, it seems, tried to cast aspersions on Temasek’s results by pointing that its auditor KPMG was in the UK’s authorities’ dog house for the quality of its audits in the UK.

The UK Financial Reporting Council (FRC) is an independent regulator responsible for promoting high quality corporate governance and reporting to foster investment in UK. Its board of directors is appointed by the UK Secretary of State for Business, Energy and Industrial Strategy. FRC plays a crucial role in the oversight and development of corporate governance standards such as the UK Corporate Governance Code and standards for the accounting industry.

UK FRC said that KPMG audits had shown an “unacceptable deterioration” and will be subject to closer supervision.

Every year, the UK FRC reviews the audits of Britain’s biggest companies to ensure they meet certain standards. The FRC noted problems at other auditing firms too, but KPMG was specially singled out for the poor quality of its work.

“There has been an unacceptable deterioration in quality at one firm, KPMG,” the FRC said in a statement …

Terry’s Online Channel

As OCBC is also audited by KPMG, is TOC also casting aspersions on OCBC’s results?

Seriously, TOC doesn’t tell that all the big four accountancy firm are in the sights of the UK’s authorities:

The UK’s top banking and insurance supervisor has said he is worried about the quality of audits by the Big Four accountancy firms. Sam Woods, the chief executive of the Prudential Regulation Authority, told the Treasury select committee on Wednesday that it was “a bit of a worry” that the Financial Reporting Council rebuked the four firms* — Deloitte, EY, PwC and KPMG — last month for a fall in quality, particularly in banking audits. Stephen Haddrill, the FRC’s chief executive, said at the time that “the Big Four must improve the qualify of their audits and do so quickly”. The FRC attributed the deterioration in quality to a failure to challenge management and show appropriate scepticism across their audits.

FT

And that despite all this KPKBing, when Goldman Sachs Int’l tried to appoint a non-big four auditor Grant Thorton to audit it, replacing a big four auditor, the UK authorities raised an eyebrow on whether Grant Thorton can do the job. The matter is ongoing.

All this is a matter of public record, yet TOC in what seems to be an attempt to slime Temasek left out inconvenient facts.

Looks like TOC is going the way of the Idiots S’pore or is it Indian S’pore?

Sad for someone who helped out at TOC.


*TOC said only KPMG was singled out, remember: “KPMG was specially singled out for the poor quality of its work”?

Even PAP voters don’t trust the PAP to tell the truth

In Political governance, Public Administration on 16/07/2018 at 11:19 am

A recent comment on TRE set me thinking

NotMyProblem:
July 8, 2018 at 11:30 am (Quote)
Keep information in the dark reminds me of my schooling days.
When I had a “F” for my examination, I would not dare to show to my parents.
But when I had an “A”, the first thing I would do was flashing my result to the whole family.
Do you think this is similar with PAP’s result?
PAP being such an arrogant govt, do you think it would hide something that was good? Don’t you see the amount of skeletons in the closets which required so many million dollars Ministers to keep them hidden.

Many people vote for the PAP because they are happy, or least contented, with the results as they perceive them of the PAP govt’s policies: PAP has lost “output legitimacy”

But talk to them about whether they trust the PAP govt to tell the truth about anything and their attitude can be summed up by the above quote, in particular

When I had a “F” for my examination, I would not dare to show to my parents.
But when I had an “A”, the first thing I would do was flashing my result to the whole family.
Do you think this is similar with PAP’s result?

The PAP’s “need to know” attitude, trumpeting of successes and stifling of criticism no matter how reasonable, makes even PAP voters wonder about what we are not being told.

Why do you think the PAP until very recently had to resort to sue and sue? (Why PAP (and PMs) sue and sue). They know the trust factor is not high despite 70% voting for the continuance of a one-party state.

The bottom line for the PAP govt especially the 4th generation ministers is that they should

— realise that the PAP is in the stagnation phase (Is PAP in “decline and disintegration”?);

— stop talking cock about Hard Truths and how great is the system Harry created; and

— start fixing the flaws in the system starting with the MRT system: Public tpt: PAP ahead of the curve and flew off the rails? Related: PAP’s cock-ups since the 1980s.

They shouldn’t expect their clownish and nuttyenemies like Lim Tean (Lim Tean: A disgraceful chamber of horrors) and Meng Seng (Silence of Goh Meng Seng) to continue helping them keep the 70% onside.

 

 

 

Public tpt: PAP ahead of the curve and flew off the rails?

In Infrastructure, Temasek on 16/07/2018 at 7:26 am

Use of public transport is in decline in many wealthy cities. Blame remote working, Uber, cheap car loans and the internet. That’s what reported recently in the PAP’s bible*: https://www.economist.com/international/2018/06/23/public-transport-is-in-decline-in-many-wealthy-cities

So maybe when the PAP administration decided to cut  back SMRT maintenance all those yrs ago, they were way ahead of the curve and got biten by reality? Sometimes thinking long term is bad for everyone. It’s also mud in the eye for The PAP way is the American corporate way.


*PAP’s bible challenges “market-based solution”

The PAP way is the American corporate way

In Corporate governance, Political governance, Public Administration on 15/07/2018 at 11:21 am

They both exercise “extreme ownership”: Ownself check ownself.This way really delivers compared to the British way of checks and balances.

At more established US companies, managers often practise “extreme ownership” — which Jocko Willink and Leif Babin, the Seals-turned-management gurus, define as taking charge and holding yourself accountable. They have to. There is no one else to do the job.

When he was not writing books or building the world’s biggest chipmaker, Grove of Intel weighed in on this perpetual corporate governance debate: “The separation of the two jobs goes to the heart of the conception of a corporation. Is a company a sandbox for the CEO, or is the CEO an employee? If he’s an employee, he needs a boss, and that boss is the board. The chairman runs the board. How can the CEO be his own boss?”

That comment has since been quoted in numerous shareholder proposals to install an independent chairman, including at Amazon, Kroger, Target, Goldman Sachs, JPMorgan Chase, ExxonMobil, Wendy’s and AbbVie. They have all been defeated. A report this week by Equilar, the pay and governance consultants, found that 38 of the top 500 US public companies last year had proposals to install an independent chair. All failed.

At seven of the top 10 US companies by market value, there is no independent chair. Most shareholders are content to give the CEO a sandbox if he builds a nice enough castle.

Contrast that with the UK, where independence is deemed essential by the corporate governance code; chairs even feel empowered to pontificate in public on the direction of their companies.

This may play well with corporate governance experts. It does not seem to help performance. The top four companies on the S&P 500 are now worth more than the entire FTSE 100.

FT

Man at centre of FB data scandal didn’t make money

In Uncategorized on 15/07/2018 at 7:04 am

A few days ago, Britain’s Information Commissioner’s Office imposed a record £500,000 fine on Facebook for letting Cambridge Analytica use an app to access up to 87m user profiles without permission. The ICO intends to bring criminal proceedings against Cambridge Analytica’s parent over its failure to deal properly with the regulator’s enforcement notice.The information came via an app designed by Cambridge academic Aleksandr Kogan: FB’s massive data: the S’pore connection.


Users would never have imagined that by filling out a survey on an app — or simply being friends with someone who had — their data could be handed to Cambridge Analytica for political profiling and targeting. The app was created by Cambridge university academic Aleksandr Kogan, who sold the data to the company.

BBC

——————————————————————————-

This reminded me that according to  yuenchungkwong, (a retired professor of computer science, NUS) when Kogan was leaving S’pore to go to Berkley, he was trying to crowdfund money to pay for his dog’s trip to the US (US$7,000). Whether he raised the money or not is not known.

But if he had made serious money selling the data, he wouldn’t need to crowdfund. But maybe he’s a cheap skate like Oppo Lim Tean who is filthy rich but not only raised money from public for projects but after claiming success in raising money never delivered: Lim Tean: A disgraceful chamber of horrors.

 

.

 

World Cup viewing: What PAP govt got right

In Internet on 14/07/2018 at 11:04 am

(Part of another occasional series on the good things the PAP govt do that TOC, TRE and other cybernut sites don’t report: not that many but still enough to keep 70% happy.)

Plenty of KPKBing by some TRE commenters, and TOC, and other cybernut sites about no free viewing on tv at home. Shows that they behind curve. Many S’poreans (including TeamTRE who tell readers how to get free streaming service) watching watching for free via streaming.

S’pore’s a good place to watch streamed stuff.

Fastest broadband speeds can be found in:

  • Singapore – average 60Mbps
  • Sweden – 46Mbps
  • Denmark – 43.9Mbps
  • Norway – 40.1Mbps
  • Romania – 38.6Mbps
  • Belgium – 36.7Mbps
  • Netherlands – 35.9Mbps
  • Luxembourg – 35.1Mbps
  • Hungary – 34Mbps
  • Jersey – 30.9Mbps

https://www.bbc.com/news/technology-44778017

Even prestigous UK unis joining blockchain “gold rush”

In Uncategorized on 14/07/2018 at 6:29 am

Sad.

The Oxford Blockchain Strategy Programme, run by the University and its Said Business School, offers you a six-week online course for just £2,200, promising you will emerge with “a comprehensive understanding of what blockchain is and how it works”.

On top of that, you get a certificate of attendance from the Said Business School as well as “access to a global network of like-minded business leaders and innovators”.

The Financial Times has been reporting on an even more exciting opportunity, a London School of Economics course in “Cryptocurrency, Investment and Disruption” – and this comes with a bargain price tag of just £1,800 for the six-week online programme.

When the reporter has the temerity to suggest that the programme seems to be lacking in academic rigour and may be tempting people into the unregulated world of crypto-trading, she is told this by one of the course leaders: “Stop being a journalist and just think. You’re citing marketing material as if that were the ultimate truth.”

https://www.bbc.com/news/technology-44778022

Why the PAP thinks it is infallible

In Political economy, Political governance, Public Administration on 13/07/2018 at 11:20 am

In response to PAP’s cock-ups since the 1980s where I wrote:

one is left wondering why the Oppo parties couldn’t and can’t (WP is expected to lose Aljunied in next GE) make a more serious dent in the PAP’s popularity with 60- 70% of the voters? Only Tan Cheng Bock (ex-PAPpy) can.

Is it repression and fear?

Or is the PAP juz lucky what with the quality of Oppo leaders …?

the retired NUS professor who had listed the PAP’s cock-ups since the 80s, I quoted, answered

[T]he leninist government model assumes a network of best talents that are attracted by a good ruling ideology and by distribution of material rewards from national resources controlled by the group – so by definition, opposition parties are left with inferior talent and lack resources to effectively compete; elections are meant to be “exams” in which citizens give the government a “mark” – a low mark leads it to improve itself through genuine effort, not intimidation, bribery, propaganda; you can contrast the situation in neighbouring countries to see that failure to observe these rules eventually leads to breakdown

I think he’s right. Remember our Harry liked to compare the PAP’s system of choosing leaders to the Roman Catholic church’s method of choosing leaders: cardinals elect a pope who in turn appoints the cardinals. And the pope like the church is always right. Sounds like PAP?

He went on to make a more telling observation

I also point out that the various past “blunders” I discussed are already baked into the system, and there is no simple way to reverse them; whoever currently running the country can only take the situation as it exists and work from there onwards

Harry and the rest of the Old Guard, contrary to the belief of many S’poreans, therefore bear responsibility for the problems we now face. It’s not all the fault of their successors, even if they are not as good as the Old Guard

Rape trial reminds me of Hawaii Five-0 episode

In Uncategorized on 13/07/2018 at 4:07 am

Taking the stand for the first time at her husband’s rape trial on Wednesday (July 11), the wife of general practitioner Wee Teong Boo said he could not have raped his patient as he was unable to achieve and sustain an erection.

Today

This reminded me of an episode in the original 1960s and 70s series. A decorated marine was accused of rape and murder, which he denied. The case seemed an open and shut case because all the circomstantial evidence pointed to him. But in the final scene, Steve McGarrett told the suspect that the police had medical evidence that he was unable to achieve and sustain an erection, and so he could not have committed the crime.

Steve McGarrett asked him why didn’t he tell them of his medical condition because it was only through luck that the police found the evidence that cleared him. Didn’t he realise that he could be executed if found guilty?

He remained silent (I think) but the anguish and shame showed on his face.

Akan datang here: A six-figure salary is ‘low income’

In Political economy, Political governance on 12/07/2018 at 11:09 am

It’s already happening in parts of the US

A family getting by on $117,400 (£87,970) in one US city can now be considered ‘low income’, according to government figures. How can that be the case?

That workers with six-figure salaries could be considered “poor” is something that might surprise many people.

But taking into account income and housing costs that is the reality for some families – who may be eligible for housing assistance – according to a recent report from the US Department of Housing and Urban Development.

In San Francisco and nearby San Mateo and Marin Counties it said $117,400 for a family of four was “low income”, while $73,300 (£54,900) was “very low income” – the highest figures anywhere in the country.

https://www.bbc.com/news/world-us-canada-44725026

So don’t be surprise if those couples here on a combined low six-figure salary start thinking of themselves as hard done by the PAP administration, despite the low levels (“peanuts”) of income tax and GST.

Remember the Singapore Dream of the 5Cs of condominiums, cars, country clubs, cash and credit cards? How many S’poreans can realistic afford condominiums, cars, country clubs and still have cash? Credit cards are now nothing but bait to get consumers to over spend so that banks can charge them usurious eates

A NUS survey points out

Out of 25 aspects about living in the country, Singaporeans ranked the affordability of cars as being the least satisfied with, followed by the affordability of properties, cost of living, ratio of locals to foreigners, and affordability of healthcare.

“Increasingly (over the years), they are upset about the affordability of cars and properties, so you can surmise from there that they are concerned with the issue,” said Tan.

https://sg.news.yahoo.com/singaporeans-less-satisfied-quality-life-democratic-rights-nus-survey-130122483.html

Related posts

S’poreans unhappy enough to make mad Dog PM?

Will people like Mr Ang and his family ever vote for Oppo?

 

PAP’s cock-ups since the 1980s

In Political economy, Political governance, Public Administration on 11/07/2018 at 9:53 am

In Is PAP in “decline and disintegration”? I wrote that PAP was in stagnation phase that began in 1990

A regular reader, a retired NUS professor lists the things the PAP got wrong since the 1984.

[S]everal major PAP blunders started in 1984 during the election campaign of that year

1. elected president: LKY had already reached 60 by that year, and this was then the public sector retirement age; so he had to face the question whether he was stepping down; the thinking at the time was to move to the presidency – under the then constitution, parliament would decide; he being who he is, the position would not be merely ceremonial, but it must be his legal background that made him uncomfortable, and a decision was made to enhance the position; the resulting controversy led to his undertaking not to be the first elected president, Goh Chok Tong’s decision to invent the post of Senior Minister to keep LKY in the cabinet, the elected president Ong Teng Chong’s conflict with cabinet, regular embarrassment about a 3-men committee rejecting candidates causing a no contest, etc

LKY could have just retired in 1990, started a newspaper column (modern idea would be blog), a charity/research foundation, a senate, and he would have remained the most influential person in the country, taking into consideration his son and his 2nd cousin were both in cabinet; it was quite unnecessary for him to feel insecure about his own place in singapore society even if he held no elected office; if he had been a blogger posting articles daily, every important person in singapore, the cabinet ministers especially, would have eagerly read them as soon as they were posted

2. HDB asset enhancement: during the campaign LKY got annoyed by opposition claiming “your HDB apartmen[t] is on 99-year lease; you dont really own it”, and announced “HDB will stop building in opposition districts”; at the time I actually did not understand why that should cause anyone to worry; but the Northeast MRT line provided part of the explanation – no population increase, no new infrastructure; the Mathias Yao–Chee Soon Juan Straits Times Forum series of letters provided some more – poor infrastructure, lower HDB value; with HDB apartments traded on the open market (previous owners are allowed to go back and buy a new apartment from HDB after 5 years).. Soon Permanent Residents, who are not entitled to buy from HDB, buying on the open market caused the HDB asset values to rise beyond affordability

3. CPF: with people living longer, the idea of delaying CPF money return was raised in 1984 and initial reaction was negative; again LKY was annoyed; soon the idea of minimum sum was adopted, later compulsory annuity, which would have been workable if most people can still get a substantial part out in cash at 55; with the weak salary increases in the past decade or so (partly because of foreign labour, e.g., IT used to have highest paid new graduates, before the industry bought in PRCs and Indians) and low interest rate, more and more people found themselves not meeting the minimum sum requirement, and every increase in minimum sum value makes more people angry

2011

[M]uch of PAP’s recent electoral adversity was self inflicted; the major examples I recall

1. James Gomez case 2006: LKY, Wong Kan Seng and George Yeo spent far too much time talking about a minor issue (LHL and GCT both kept quiet – they could afford to); the Aljunied voters punished George Yeo, and WP identified the electorate as vulnerable, put effort into the ground work and won it decisively in 2011

2. Tin Pei Lin case 2011: it was sound strategy to find some younger, especially female, faces, but the party should have made the effort to find someone with a track record as a political operator in her own right, not just a polished presenter with management consultancy experience recommended by a personal connection; I also believe if they introduced her at the end, after people have grown bored with all those familiar CVs of civil servants, generals, professionals, executives, etc, she might have enjoyed a better reception, so they botched the presentation in addition to selection

3. Joo Chiat case 2011: it was also sound strategy to replace old by young, but Charles Chong is older than Chen Soo Sen so the change could not be justified on that ground; Chen also enjoyed certain personal support which did not readily transfer via party loyalty; Workers Party ended with nearly 50%

4. Hougang case 2012: Teo Chee Hean dwelt far too long on Yaw Shin Leong’s personal and business failings, which Yaw’s former supporters preferred not to be reminded of, whereas upbeat talks about the wonderful things PAP would do for Hougang if elected, might have more fully exploited the unexpected opportunity; after the Hougang moralizing, the Palmer case was a particularly hard blow – PAP candidates are like anyone else

[W]hether the party would learn from these mistakes, and whether it would make new ones in 2016, is of course to be seen; given the resources available; it certainly has the potential of doing much better

Looking at the above, one is left wondering why the Oppo parties couldn’t and can’t (WP is expected to lose Aljunied in next GE) make a more serious dent in the PAP’s popularity with 60- 70% of the voters? Only Tan Cheng Bock (ex-PAPpy) can.

Is it repression and fear?

Or is the PAP juz lucky what with the quality of Oppo leaders: clowns like Lim Tean (Lim Tean: A disgraceful chamber of horrors), Goh Meng Seng (Silence of Goh Meng Seng) and Pritam Singh (WP distributing unsafe food (pass expiry date) and getting financial advice of cybernut resulting in having to take down misleading video after Lawrence Wong kicked Bayee’s ass)?

Email yr answers pls.

 

Bankers and literature

In Uncategorized on 11/07/2018 at 7:02 am

(Part of an occassional series on how literature potrays those who “do God’s work”: “Bankers do God’s work,” Lloyd Blankfein, the chairman and chief executive, of Goldman Sachs said in 2009. In all probability he said “Bankers do God’s work” in jest. But  Émile Zoladoesn’t seem to agree.

His 1891 classic L’Argent (Money), “the story of a hugely ambitious banker, creator of the Universal Bank, who ends up using bank funds to buy the bank’s shares on the Bourse, in the ultimately vain hope of fending off collapse”.

Well if you read the financial press, these things really happen. Just google.

Property: Why govt was right to act

In Economy, Property on 10/07/2018 at 10:19 am

This chart from Bloomberg article tells it all. The gradual decline between late mid 2013 and mid 2017 had reversed very, very sharply before the latest curbs were anounced. Lawrence Wong for PM: Lawrence Wong: a PM-in-waiting

 

 

The enbloc sales had a lot to do with this the surge in prices.

 

 

 

 

And it’s ownself buying ownself.

 

 

 

Gd place to borrow money from

In Financial competency, Financial planning on 10/07/2018 at 7:58 am

At reasonable rates

CO-OPERATIVES, A LESS KNOWN OPTION

An … alternative that many people don’t think about is borrowing from a co-operative society.

Co-operatives started here nearly a century ago to provide a safe place for savings and access to affordable credit.

Admittedly, they are not all open to everyone. Only teachers can get loans for 3 per cent at the Singapore Teachers’ Co-operative Society, and Polwel is for police officers.

Other co-operatives are more accessible. TCC, formerly the Telecoms Cooperative Society, says it is open to all Singaporeans and permanent residents. The interest rate for loans is just 6.99 per cent.

While you would likely need to establish a track record before borrowing, you could join a credit union if you need to take up loans periodically in the future.

https://www.todayonline.com/singapore/reducing-cost-borrowing-money

And given a reported case of criminal breach of trust by employees of one co-op, with a bit of luck there might be no record of yr borrowings.

Is PAP in “decline and disintegration”?

In Economy, Malaysia, Political governance, Public Administration on 09/07/2018 at 2:08 pm

Seems that Abdullah Badawi had told an adviser after the premier was compelled to step down following the 2008 general election in which the UMNO-led BN’s margins of victory were badly dented:

In the nature of evolution, the former prime minister said, there were four phases in the rise and fall of states and entities: kesedaran (awareness), kebangkitan (emergence), kegemilangan (greatness) and kehancuran (decline and disintegration). When asked what phase he saw UMNO to be in then, Abdullah told the adviser: the last one  ̶  of decline and disintegration. It would take another decade, or two more general elections coinciding with the premiership of his successor, Najib Razak, before this prognosis proved to be an indisputable fact.

http://www.rsis.edu.sg/wp-content/uploads/2018/07/CO18112.pdf?utm_source=getresponse&utm_medium=email&utm_campaign=rsis_publications&utm_content=RSIS+Commentary+112%2F2018+UMNO+Post-Power%3A+What+Now+in+a+Changing+Landscape%3F+by+Yang+Razali+Kassim+

I’m sure the anti-PAP cybernuts will say that the PAP is in the “decline and disintegration” phase, but they have been saying this since cyberspace became polluted by their presence in the mid noughties. And they were saying it post 1959 when they lived in the gutters, drains and toilets of brothels.

Me? I think that Badawi is wrong about four phases: There’s a “stagnation” phase between “greatness” and “decline and disintegration”.

Harry was pretty shrewd to pass the baton to his son and GCT in 1990. By then, the PAP had entered the “stagnation” phase what with Harry getting progressively getting rid of his Old Guard in the name of leadership renewal.

Think of the flawed policies of the teams led by GCT and Harry’s son, and then Harry’s son alone: “asset enhancement”, “FTs by the cattle truck load”, the failures in the public transport system and the many restructuring plans (Economic restructuring: This time, it’s really different). I mean why the need for so many since the 1980s? LHL must have drawn up a really bad plan in the 1980s for there to be a need of so many followup plans?

And he’s now PM, what? Meritocracy? What Meritocracy?

Meritocracy? What meritocracy?

Why PAP doesn’t do accountability, meritocracy

We are still in that phase. As for M’sia, it entered that phase with the arrest of Anwar and continued until the day after the 2008 general election. But of course, Badawi wouldn’t admit that he presided over the stagnation that would lead to decline.

The PAP will enter the “decline and disintegration” phase when like the BN it cocks up so badly that it loses its two-thirds parly majority (BN lost this in 2008). Until then dream on cybernuts. Or should it be wank on, what?

After all, in the coming GE. WP is expected to lose Aljunied GRC: How to ensure no GST rise. It’ll then only have fortress Hougang. As for the SDP, so long as S’poreans don’t want to get rabies, it’ll be unelectable. The later Mad Dog Chee realises this, the happier the PAP will be.

Why Anwar is right to rebuke Lim on exaggerating M’sia’s debt problem

In Malaysia on 09/07/2018 at 6:32 am

And why Tun should sit down and shut up on M’sia’s debt problems.

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Related articles

Poor Najib, not believed when telling the truth

Mahathirnomics/ Luck of the devil

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Look at the charts and u can see why investors can easily be spooked especially given the run from emerging mkts due to tightening of US monetary policy, US$ strength and fear of trade wars.

(Declaration of interest: I’m a friend of someone who was one of his advisers when he was finance minister.)

 

https:/

 

 

Why no NIMBYism here

In Infrastructure, Political economy, Political governance, Public Administration on 08/07/2018 at 10:18 am

NIMBYism is a problem in developed countries bar S’pore.

A really bad example of “Not In My Backyard” is Heathrow’s expansion. They’ve been talking about it since the 70s (I first used that airport in 1976). UK’s parliament has finally decided to let Heathrow build a third runaway.The majority of 296 for third runway is welcomed by business and deplored by locals: court challenges are expected.

Here’s someone complaining to the FT about the decision

What utter tripe. Of course the most important question is whether the runway is “needed”, and for this Country, in this Century; the answer is no. There is little to be gained environmentally or financially for the Citizens of the UK. BAA – yes. Transit passengers- yes. BA- yes. Travel operators- yes. But for tax payers, Children who breathe the air, and UK PLC as a whole, who will suffer ever poorer traffic delays and travel costs. Nope. It’s a scam. Like The Privatised Utilities, and the whole Brexit fiasco. Heathrow expansion is a bl33dy scam.

NIMBYism is kept in check in S’pore not because 70% of S’poreans are constructive and nation building, putting the needs of S’pore (as defined by the PAP) before self, but because S’pore is a one-party authoritarian state.

 

Why I’m still not filthy rich

In Financial competency on 08/07/2018 at 6:08 am

Ken Fisher, head of Fisher Investments and a regular FT columnist, published a provocative book on the “The Only Three Questions That Count” for investors. In a nutshell, they were, what do I believe that’s wrong, what can I fathom that others cannot, and what is my brain doing to mislead me?

FT

i still can’t answer the third question well enough.

 

 

Right time for Trump to declare economic war?

In China on 07/07/2018 at 11:15 am

Think about it.

The EU is really having problems getting its economy to fire.

The Chinese are trying to deleverage the economy (all those debts) but afraid that moving too fast could cause a really bad economic slowdown or recession leading to riots.

Meanwhile the US economy is firing on all cylinders, rocket-boosted by tax cuts. It might overheat.

So a trade war now for the US could cause the US to cool down while causing serious damage to Europe and China.

What better time then now for the US to start a war that damages everyone but affects it least?

Trump’s not a dotard after all?

Trump’s really a “dotard”

In Uncategorized on 07/07/2018 at 6:31 am

U.S. companies operating in China earn hundred of billions of dollars a year whereas Chinese companies make only 26 billions a year in U.S. Who benefits more?

Comment that is among Editor’s Picks in FT

And don’t forget that the Chinese lend the money (at really low rates) to the Americans to buy Chinese goods.

Think about these points when next Trump or US biz leaders complain of Chinese stealing US technology or forcing US cos to share “secrets”.

 

More on 85 being the new CPF Life payout date

In CPF, Financial competency, Financial planning on 06/07/2018 at 10:53 am

In Akan Datang: Why CPF Life payments will begin at 85, I “explained” why the PAP was planning to move the CPF Life start date to 85: Many S’poreans would be dead by then because 85 is 2.4 years above the average S’porean life expectancy rate of 82.6 yrs.

Seriously, two points to note on why there’ll be a move to up the age when CPF Life starts paying out (Remember the default age is now 70:CPF Life: How withdrawal age “moved” to 70)

When ang moh countries introduced state old age pensions: example when UK introduced state pensions in 1908, the retirement age, 70 for both men and women, was well above average life expectancy.

And then there’s the issue of accelerated ageing where S’pore is among those top of the class.

Alan datang: Harry’s Msian M’sia

In Malaysia on 06/07/2018 at 5:03 am

Even Tun M recently said that M’sians should think of themselves as M’sians and not as Malay , Chinese etc. But don’t hold your breath lest you faint.

The biggest party in PH … is the Parti Keadilan Rakyat (PKR), which is proudly multiracial, although led by another former UMNO grandee, Anwar Ibrahim. The second-biggest is the Democratic Action Party (DAP), which is supported by Chinese and Indian voters—ie, the victims of racial preferences—and unsurprisingly argues against them. Voters united across racial and religious divides to support the coalition, which also includes explicitly Muslim and indigenous parties. But the government is not seizing its opportunity to undo racially discriminatory policies. The coalition hangs together partly because all parties have agreed on a binding principle: that the constitution and its privileges for Malays are supreme.

Nurul Izzah, daughter of Mr Anwar and a champion of reform in PKR, advises caution when it comes to changing affirmative action. “You shouldn’t push too hard,” she says, “your efforts must gain traction with the electorate.” She worries that the assault on racial privileges that urban types want will alienate voters in rural areas, where many Malays live. If provoked, they could turn back to UMNO or to PAS, a conservative Islamic party. Saddiq Abdul Rahman, the head of the youth wing of Dr Mahathir’s new party, Bersatu, which limits membership to Malays and other indigenous people, has no doubt that “a more multiracial, inclusive Malaysia” approaches. But he admits that race will prove “a tough discussion” within the governing coalition.

https://www.economist.com/asia/2018/06/09/malaysias-ruling-party-may-be-gone-but-its-racial-policies-survive

Who else is the PAP govt screwing?

In Economy, Media on 05/07/2018 at 9:19 am

The recent water and electricity hikes don’t juz hurt the “little” people as alt media is shouting and the MSM is whispering, they also hurt the businesses that employ the “little” people. This means smaller or no pay rises, and even retrenchments in spite of a growing economy.

I’m exaggerating? Juz read the constructive, nation-building media

Businesses here are also feeling the pinch from price hikes.

Mr Lee Soon Kiat, executive committee member of the Singapore Semiconductor Industry Association, noted that operating costs for electronics manufacturing firms, including semiconductor companies, have been increasing steadily.

Depending on the size of the firms, costs could rise further to up to S$10 million, as they use a lot of water for their processes.

While companies are already using energy efficient equipment, and clamping down on water usage, the increase in water hikes may be “enough to wipe out all our efforts from the previous years”, said Mr Lee.

He warned that the electricity and water tariffs, as well as carbon tax levied next year, would add to firms’ financial costs and affect profit margins. As a result, Singapore could risk a mass exodus of companies to more competitive business markets in China and South-east Asia.

While Mr Lee said most companies have accepted the price hikes, he added that “the Government has to adopt a consultative approach (going forward), and to avoid any unnecessary hikes” that could affect its competitiveness in the manufacturing sector.

https://www.todayonline.com/singapore/hit-rising-water-and-electricity-bills-singaporeans-and-businesses-tighten-belts

Looks like the PAP is not only out to screw the voters, but businesses too

The anti-PAP alt media is quick to manufacture and spread fake news about the PAP govt (Example: Achtung cybernuts: Facts about global LNG prices & our gas supplies) but when the PAP govt really cocks up, where are they? Makes one wonder whether the PAP discredits its opponents via black ops and whether people like Phillip Ang and Goh Meng Seng are useful idiots or worse.

Indians prefer to employ Indians

In Public Administration on 04/07/2018 at 10:26 am

It’s not an urban myth or racial stereotyping that countrymen always prefer countrymen.

An analysis of Upwork, for example, found that employers of Indian descent disproportionately sought Indian nationals for their tasks.

Economist

———————————————

Upwork is a global freelancing platform where businesses and independent professionals connect and collaborate remotely.


Those ang moh tua kees who think the sun shines of Tharman’s ass should be assured that it’s not true that Tharman negotiated the deal with India that allowed Indian FTs in by the truck load via the inter office transfer. It was one Trade and Industry Minister George Yeo.

My experience with S’pore’s digital programme

In Infrastructure, Public Administration on 04/07/2018 at 5:24 am

And Three cheers for PM’s son

The following reminded me that I juz had to related my experience with an initiative of the Digital Government Blueprint

By 2023, citizens and businesses will be able to access all Government services anytime, anywhere on an Internet-enabled device.

Citizens will also be able to complete 90 to 95 per cent of transactions entirely on government websites.

Fresh from announcing the Digital Readiness Blueprint to help every Singaporean navigate a digital future of cashless payments and other innovations last Saturday, the Government laid out its own targets in the Digital Government Blueprint on Tuesday (June 5).

https://www.todayonline.com/singapore/nearly-all-govt-services-go-digital-2023-20000-public-servants-be-trained-data-analytics

Well a few years ago, renewing my dogs’ licences went online: no paper at all. Couldn’t  go to the Post Office to pay cash.

It was a pain in the neck following the online procedures (presumably for “security”) and so unnecessary because each “licence” is unique as is the owner’s i/c.

Finally someone realised this and this year renewing the licence was a breeze.

Rumour has it is that it was PM’s son (also rumoured to have become a dog lover two years ago) who sorted this out. Remember he’s in charge of the digital programme.

Whatever, at least dedication to public service runs in PM’s family, unlike in his younger brother’s family where LKY’s grandson pisses and shits on grandpa’s legacy of reforming the judiciary. Sad. Btw, rumour has it that this boy loves dog meat. Sad.

Coming back to dog licences, one has to assume that elderly S’poreans who are not digitally literate or have bad eye sight have to put down their pets and go without the companionship of dogs because the PAP govt wants to do away with paper and go digital. Sad.

Achtung cybernuts: Facts about global LNG prices & our gas supplies

In Energy, Infrastructure on 03/07/2018 at 10:56 am

Phillip Ang (Cybernuts go to financial expert who raised money for CPF lawsuit CPF class action: Phillip Ang’s “reply’ to fellow cybernut then no picture, no sound*: like his buddy Lim Tean: A disgraceful chamber of horrors?,)TRELand and TOCLand and allied cyberspace and social media allies are shouting that since S’pore uses natural gas to generate electricity and LNG prices are weak, there’s no need for electricity prices to rise when oil prices rises as per the automatic formula.

What they don’t know or not telling us, if they, do is that most of our natural gas supply is not in form of LNG but in the form of gas from nearby Indon and M’sian fields that come here via pipes (like water). This gas is priced off the oil price because the fields would not have been developed otherwise all those years ago. Why don’t the cybernuts blame PAP for not having foresight to wait for LNG?

In those days, only after long-term contracts priced off oil from users were signed, were fields developed. These contracts are still in place. Why don’t the cybernuts blame PAP for not negotiating shorter contracts or ensuring that the price of gas be priced in a different way?

Until very recently, major gas fields were not developed until long-term contracts priced off oil were in place. This is changing surely but slowly. Whatever, a lot of global LNG are still priced off the price of oil because the contracts were signed a long time ago. Surely but slowly, there’ll come a day when the spot price for LNG sets the price for deals, but don’t hold yr breath.

With enemies like the cybernuts who peddle rubbish analysis eg on water and electricity, the PAP doesn’t need friends.

===================================

*Will Lim Tean & Phillip Ang help out fellow cybernut?

They didn’t

Minister Ong wants a camel?

In Public Administration on 03/07/2018 at 4:11 am

The education system which the Government is aiming to develop will be a “combination of the best parts of the Singapore and Swiss systems”, said Education Minister Ong Ye Kung on Thursday (June 7).

Mr Ong, who is visiting Switzerland as Education Minister for the third time in as many years, cited the Swiss “dual study system”, which combines classroom study with workplace apprenticeship training, as of particular interest to Singapore.

The participation of industries is another “admirable feature” of the Swiss education system, he added.

https://www.todayonline.com/singapore/government-aiming-best-singapore-and-swiss-education-system-ong-ye-kung

Well if we manage to combine the Swiss system with our neo Victorian system (very elitist and which is practised today in England only within the private ie public school sector) we have, it’ll be a world first and maybe gd for S’pore. Juz don’t hold yr breath.

Seriously we’ll just have camel, only good for survival in certain conditions.

 

How to make it jialat for HDB owners if got child in RI

In Public Administration on 02/07/2018 at 12:15 pm

Just as how Singapore prevented racial enclaves from forming in its housing estates, the country must avoid the formation of any social enclaves, said Trade and Industry Minister Chan Chun Sing said on Tuesday (June 5).

To that end, the Government will “further refine” the design of precincts and public housing flats to “allow greater social mixing between people of different economic backgrounds”.

“This is especially important as society matures and social mobility and social mixing weaken,” said Mr Chan, who did not elaborate.

Constructive, nation-building media

We have a racial quota for each HDB estate to prevent racial enclaves from forming HDB estates. This upsets Indians, Malay and Eurasians no end because they can only sell to a minority, limiting the value of their flats. Chinese can sell flat to anyone because of their uber majority status: the quota doesn’t affect them.

So maybe to ensure that ensure that there’s a mix of educational abilities in HDB estate, HDB flat owners with one kid in RI or other so-called “elite” schools, can only sell their HDB flats to people with kids in RI or other so-called “elite” schools.

Cybernut on “Why Singapore really need[s] the HSR?”

In Infrastructure, Malaysia on 01/07/2018 at 9:59 am

Below is what a cybernut wrote in TRE on why “Why Singapore really need[s] the HSR?”. I can’t stop laughing because the cybernut forgets (or doesn’t know or doesn’t want to tell?) that it was M’sia that first proposed the HSR, almost as soon Najib became PM, wanting to build it ASAP (to be operational in 2016), and that S’pore was the one dragging its feet.

The two PMs agreed to go ahead with the project after a meeting on 19 February 2013. A committee was set up to look into ‘the details and modalities’ of the project. Then it was announced that the high-speed rail proposal will be finalised by end of 2014 with a targeted completion date of 2020.

S’pore and M’sia only signed a Memorandum of Understanding on 19 July 2016.

And here’s interesting facts that even I had forgotten. KL had earlier unilateraly started work

In 2006 YTL Corporation, operator of the Express Rail Link in Kuala Lumpur, revived the proposal, with a projected speed of 250 km/h (155 mph). This was expected to trim travel time between the two cities to 99 minutes, compared with 4–5 hours by road, 7 hours by conventional rail services,[5] or 3 hours by air (including travel to and from the airports, check-in, boarding and other airport procedures). In 2008 the Malaysian government halted the project citing high-costs of over RM8 billion.[6]

https://en.wikipedia.org/wiki/Kuala_Lumpur%E2%80%93Singapore_high-speed_rail

The thinking was that if S’pore said “No” when formally asked, the terminus would be in JB.

Whatever why didn’t Tun M speak out earlier against the HSR?

Why Singapore really need the HSR?

They created the problems, at end of the day, it is we are paying the  price. When the PAP saw the property slumps, they kicked in by having  the two casinos, property prices shoot up. It is well known fact,  black money goes hand in hand with casinos, it is the best way to  launder money. Suddenly we saw 70% of the private properties owned by  foreigners. How many of them are black money?

Jurong areas saw buildings after buildings, vacant spaces all around .  Recently came out an article on depress markets around Jurong.  Something must be done if not it create a cycle of busts, a collapse  of property market. PAP knew about it, something must be done. Wallah  an ingenious came out, mega project, the high speed railway to  resurrect the Jurong properties market. And who have to foot the bills  to bail out the rich property developers?, it is we. Gst, cpf,  utilities, transportation went up.

Mahathir is shrewd, he knew, it benefits Singapore not Malaysia. PAP had made mistakes, in billions and we always have to foot the bills,  it is high time we be like our brave brothers and sisters of Malaysia,  say no to PAP.

Aziz Kassim

Senior VP financial planning was a problem gambler

In Banks, Financial competency, Financial planning on 01/07/2018 at 5:57 am

WTF!

For 12 years, Emeline Tang Wei Leng carried out an elaborate ruse, deceiving five people – including her own family members – into investing their savings in non-existent fixed deposit plans with HSBC bank.

Given her former position as a senior vice-president at the bank, they trusted her with a total of S$5.2 million. But Tang, 39, used their savings to fund her gambling habit.

On Friday (June 29), the District Court sentenced Tang to 10 years and six months’ imprisonment for 34 charges including cheating and forgery. Another 223 charges were taken into consideration during sentencing.

Starting out as a relationship manager, Tang rose up the corporate ladder and was in the financial planning division when she left HSBC in 2012.

https://www.todayonline.com/singapore/former-hsbc-senior-vp-jailed-cheating-family-members-and-elderly-s52m

As an investor in HSBC, I’m left wondering about the HR practices of the bank.

But then all this modern day emphasis on employees’ dignity and privacy rights, and employers fear of getting into trouble on social media for intrusive survelliance of staff, means incidents like this is more likely than not to happen. Sad.

Lim Tean: A disgraceful chamber of horrors

In Uncategorized on 30/06/2018 at 12:59 pm

No I’m not going to link to TOC’s piece titled “A disgraceful chamber of horrors” where it reprts about Lim Tean KPKBing about how little MPs pay for parking vis-a-vis teachers (could be as high as $900 a yr) of $365 for HDB (throughout Singapore) and Parliament combined.

Meanwhile S’poreans are still waiting for Lim Tean’s jobs rally and defamation video promised for last September, then last November and for which he raised money from the public: Where’s yr defamation video and jobs rally Lim Tean?

And while Lim Tean makes such of the fact that mum was a hard-working teacher, funny he doesn’t tell us that pa was one of Harry’s right-hand men. Pa was CEO of PA.

Investments: What rocks, what sucks

In Financial competency on 30/06/2018 at 5:51 am

Relax S’poreans, Tun is not in control in M’sia

In Malaysia on 29/06/2018 at 11:25 am

Tun is as harmless as Harry was in 2013 and 2014.

Remember the photos of Harry at a PAP do before his death? He had to be propped up: like a dummy I tot. Google the images up as I’m don’t intend to show our Harry as a toothless, mangy ex-lord of the jungle where once even a quiet chuckle from him got people worried. So sad.

Well as the PAP govt and fellow S’poreans, and anti-PAP types* get their knickers in a twist over Tun unfriendly remarks, I tot I’d remind them of  how harmless was our Harry was in 2013 and 2014 because Tun is just as toothless, mangy ex-lord of the jungle ass Harry was even if he is M’sian PM.

He may be PM and has all the powers that Najib used to have in ensuring that 1MDB was not investigated by the M’sian authorities.

But he can be easily removed as PM if Anwar, his gang, the DAP (Like Tun , Anwar needs the kilang and cina coolies to clean up the manure created by Tun, himself and Najib.) and the moderate Islamic party want to. They only have to hold their noses and sign up the Sarawak parties that left BN. These parties have 19 seats, a few more than Tun and M gang.

Look at the differences between DAP ministers and Tun on HSR and the repeal of various laws**, and how long it took to decide the remaining cabinet posts, and you will see how powerless he is.

So no need to be concerned about his unfriendly comments.

———————————————————————————————–

*They are now keeping real quiet and hoping that real S’poreans will forget that they only a few weeks ago were telling us that the sun shone from Tun’s ass. Example: Chua Seng Chwee has gone back to talking on FB about good food. A few weeks ago he was cheering on Tun whenever Tun attacked S’pore telling us that Tun is a really smart guy. (Related post: Anti-PAP S’poreans sucking up to Tun)

But Terry’s Online Channel is doubling down on its support for Tun. It tells readers that Tun’s unfriendly comments are all about the PAP govt being unfair to M’sia and comparing that unfairness to what TOC and the anti-PAP cybernuts say is the PAP’s unfairness to S’poreans. All TOC will achieve is ensuring that soft PAP voters will think TOC and its base are anti-S’porean fifth columnists. Sad.

**Btw, I had predicted that like the Anti-Fake News Act, the Printing Presses and Publications Act, and Sedition Act will only be tweaked, not repealed: Waz this call for a leader like Tun M here?

Tun M’s crony, the Home Minister, said the Printing Presses and Publications Act, and Sedition Act will be reviewed.

The DAP wants all these laws repealed as per the Coalition of Hope’s manifesto.

Anwar and gang, the rest of the coalition, and the neutrals from Sabah and Sarawak are eating popcorn, watching and laughing. UMNO and the rest of BN are hoping they can help stir the pot. Sad for M’sia.

 

US beats s*** out of China again

In China, Currencies on 29/06/2018 at 5:10 am

The renminbi fell for a fourth successive session, hitting its lowest point against the dollar of 2018. The US dollar is heading for its biggest monthly rise against the offshore renminbi since the early 1990s.

And yesterday, Wall St recovered from a really sharp fall the previous day which was a wild ride: on Wednesday market was up strongly, then reversed sharply, losing its initial gains and a lot more.

But

there was no respite for Chinese stocks, as the CSI 300 index closed at a fresh one-year low, taking it deeper into bear market territory.

FT

America is Great Again.

 

Why Tun M, Anwar, PAP won’t, can’t reform the status quo

In Political governance, Public Administration on 28/06/2018 at 10:36 am

Reformasi is in the air on both sides of the causeway, with even PAP ministers talking of the need to change.

I’m the first to admit that because I’ve had an active interest in M’sia since the 80s, I’m skeptical that A New Hope will be followed by the Return of the Jedi. It’ll be followed by The Empire Strikes Back (though that doesn’t imply the return of BN or UMNO).

As for the PAP, pigs will fly first before the PAP reforms S’pore.

Whatever,

[Alan Blinder, Fed Vice-Chairman when Greenspan was Chairman] draws various lessons[for reforms based on his experiences in helping get Reagan’s 1980s tax reform package passed]. First, start with strong but broad presidential leadership. Second, leave technocrats to design a policy combining effectiveness and simplicity. Third, find some wily political operators with tactical nous to sell it. Fourth, come up with an eye-catching symbol that defines the package (in this case, a massive reduction in the top rate from 50 per cent to 28 per cent). Fifth, allow a degree of backroom bargaining while the deal is constructed. And sixth, make sure the package is agreed as a whole, rather than picked apart by special interests.

Advice and Dissent, by Alan Blinder

Think Tun will do this? I have my doubts. For one, he wants to ensure the continuance of Malay dominance.

And it’s not only Tun who wants to ensure cont’d Malay dominance.

Anwar has assured Malays and other Bumiputras that their rights under the new government would not be sidelined, while stressing to all not to be taken with the false propaganda about the Democratic Alliance Party, which is also part of PH. Like Tun and the DAP, he needs the kilang and cina coolies to clean up the manure created by Tun, himself and Najib.

“Felda and Universiti Teknologi Mara will not be threatened but kangkung professors can’t (be accepted),” Dr Anwar said.

As for the PAP, so long as they worship Harry,  Hard Truths will prevail. Sad. Because Harry between the 1950s and the end of the 1980s had no Hard Truths to guide him. He did what he did to get power, then retain power and in the process help bring material prosperity to S’poreans and S’pore. He changed course several times: from socialist to fascist lite, from democrat to authoritarian, from multiracism to “English and Mandarin tua kee”.

He only tot up Hard Truths when he became goal keeper to keep himself busy because as goal keeper he had little to do other than manage the team. He was the first of the player managers. Sad.

Advice from UK’s richest man

In Uncategorized on 28/06/2018 at 4:29 am

Through buying up and turning around the cast-off parts of big business, the Mancunian has made his £21bn fortune.

From operations once owned by the likes of oil giant BP, Mr Ratcliffe has created a company whose chemicals and raw materials go into nearly everything we touch every day.

And it only took him 20 years to do it.

Ineos is now worth £35bn, according to The Sunday Times Rich List – based on Mr Ratcliffe’s strategy of buying “unfashionable or unsexy facilities owned by large corporations where you’d know they would be sloppy with the fixed costs”.

http://www.bbc.com/news/business-44101223

Sadly in S’pore, TLCs and other GLCs don’t sell underperforming units because they are insulated from pressure because they dominate the local economy.

Why I like Seah Kian Peng

In Uncategorized on 27/06/2018 at 10:51 am

Yesterday in Why Seah Kian Peng is right to say he’s “left of centre”, I said I would explain why I like Seah. I like him because he doesn’t let the Hard Truths of hypocrisy, morality and groupthink stand in the way of attempts to help an unfortunate group of S’poreans: unmarried single mothers.

In TRELand when the cybnenuts talk of unmarried mums, they compare them to prostitutes. Even PAP ministers, MPs and the IBers don’t go that far. They juz say “Undeserving poor. They bring it on themselves. Promoting moral hazard to help them.”

And sadly many, many S’poreans agree with them and the TRE cybernuts.

But Seah (and a few other MPs like Lily Neo) joins NGOs in trying to help them, and in trying to get the PAP and society to change their views on these “fallen” women. Power to him and the others.

Over the years, he has also spoken up for more assistance for unmarried single mothers.

In 2016, the Ministry for Social and Family Development finally announced that the Government is ready to extend the full 16-week maternity leave accorded to married mothers, to single mothers as well.

Their children also now have access to a Child Development Account, a savings scheme to help pay for childcare and healthcare costs.

MPs and women’s rights groups spent years campaigning for this and other benefits.

Mr Seah feels even more can be done to address their needs.

Unmarried mothers still do not get the Baby Bonus cash gift and parenthood tax rebates that even widows and divorcees, receive. When it comes to housing, they have to wait until they turn 35 to buy an HDB flat under the singles scheme.

“The challenges of raising children by themselves is already hard enough. But they have to still think about something as basic as housing. So on our part as a Government, how can we help?”

The Government has traditionally been cautious about equalising benefits for this group as it says doing so could send out the wrong signals.  A common argument is that such a move might be seen as condoning having children out of wedlock.

“Frankly, I don’t believe in this. But even if as a result, one or two people start thinking along those lines, so be it. We shouldn’t stop ourselves from helping people just because we fear a small group could end up abusing a policy.”

This concept should apply to every policy, he says, including to how much help should be given to the low-income in society and how even means-testing to assess a person’s eligibility for assistance is conducted.

https://www.channelnewsasia.com/news/singapore/seah-kian-peng-mp-marine-parade-ceo-ntuc-fairprice-on-the-record-10459284

 

 

Why Trump thinks he’ll win trade war with China cont’d

In China on 27/06/2018 at 5:06 am

Further to the equity mkt falls referenced in Why Trump thinks he’ll win trade war with China,a 0.5% fall in the Shanghai Composite Index yesterday left it more than 20% from a two-year high hit in January. it’s now officially in a bear market.

Meanwhile, last night, US equity indices recovered some of the previous day’s sharp falls.

And the Chinese currency also weakened to a fresh six-month low while the US$ is up.

Trump is making Making America Great Again.

Great if my bank offers this service

In Banks, Property on 27/06/2018 at 4:44 am

In early June, the govt released the Digital Readiness Blueprint to help every Singaporean navigate a digital future of cashless payments and other innovations.

Great if my bank, HSBC, offers this service

For people looking to buy or sell a home, it offers to research neighbourhoods, move furniture, remove garbage, paint a house and even decide which bins to take out each week.

FT

Here’s what RBC, a Canadian bank, is attempting to do

RBC aims to offer more end-to-end services — or “ecosystems” — covering wider customer needs than only financial, such as when they want to start their own business, sell their house, or find a new car. For instance, the bank is offering a service for entrepreneurs to register their start-up company with the government, provide it with cloud-based accounting software, supply a branding service and send it letterheads and business cards, all before it has lent the company a cent. For people looking to buy or sell a home, it offers to research neighbourhoods, move furniture, remove garbage, paint a house and even decide which bins to take out each week. Many of these services are supplied by partners integrated into RBC’s digital platform.

FT