“Bai Du Bu Qin”
A poetic phrase with origins in Chinese literature, it means “may you be immune from 100 toxins”.
BBC article in 2020
“Immunity from 100 toxins” appears to have originated in a verse by the Cambridge-educated poet Xu Zhimo, and also makes an appearance in the fiction of Louis Cha, a martial arts novelist, but was not known to be said at holidays.
It implies having great self-control and determination as well as not easily succumbing to disease.
https://www.bbc.com/news/51286633
Ang mohs the most gullible.
ESG ETFs’ cumulative inflows exceeded the projected levels of US$121bn in 2021 and may surpass US $41tn in assets in 2022, according to Bloomberg Intelligence. “ESG has grabbed over 10 per cent of the global ETF flows in 2021″ it says with most of the buying coming from the US and Europe.
The world trembles at the words of this man who is doesn’t have hard power.
At the very end of very long article on MAS’s surprise action to contain inflation, this appeared:
All eyes will also fall on what higher inflation will mean for the planned increase in Goods and Services Tax (GST).
Prime Minister Lee Hsien Loong has said that the Government will have to start moving on the planned GST increase in Budget 2022 given that the economy is emerging from the pandemic.
Economists from Moody’s Analytics said the latest inflation reading “throws a spanner” into these plans.
“The GST is widely expected to be raised by 2023 at the latest in order for the Government to balance its budget sheet,” said Asia-Pacific economists Denise Cheok and Shahana Mukherjee in a report issued after MAS’ policy decision.
“With prices already rising at record speed, the timing of a GST hike will need to be carefully considered.”
https://www.channelnewsasia.com/business/mas-tighten-monetary-policy-cycle-what-it-means-singaporeans-2457641
Any half-decent Western media report would not tuck this gem at the end of an article entitled “MAS tightens monetary policy in surprise off-cycle move: Why and what it means for you and me“. It would feature in a more prominent spot.
But then this is Harry Lee’s constructive, nation-building media in action: “hide” inconvenient facts and opinions in the middle or at the end of articles. I didn’t make this up: this is in local editors’ unofficial style guide.
Here’s another recent example: GST: A very brave local academic.
Related posts:
What PM doesn’t understand about GDP and GST
GST: A very brave local academic
And remember you read the following here first.
Last year I wrote that PM would say that GST would rise in 2022: Chiat lat! Wah lan GST going up in 2022. Seriously, I still stand by my views in 2020 that there’ll be no GST rise until after next GE: Why there’ll be no GST rise until after next GE and Double confirm, no GST rise until after next GE. I didn’t think economic growth will justify taking the PAP govt taking the risk. Alternatively, I now think fanning inflation ever higher will cause a rethink, if economic growth is strong
Lawrence Wong will caveat a January 2023 rise with a lot of “ifs” and “buts”, allowing him to avoid a rise when the time comes.
Between its highs and lows, the S&P 500 moved 4.4 percentage points on the day. It closed up 03%
The trading took the Nasdaq within a hair of a so-called bear market — when losses from an all-time high breach 20%. Nasdaq Composite index briefly fell 4.9% before rebounding to end the day up 0.63%.
Further to Bloodbaths galore this week/ BS about Bitcoin, this is the reason why
(Update on 23 January: “Bitcoin’s slide continued on Saturday: its price fell towards $34,000, around half of the peak it scaled in early November. Other cryptocurrencies also tumbled, Economist Expresso.)
And in Bitcoin too which its fans say hedges against stock markets fall
Even Grandpa Xi believes in LKY’s Hard Truth in growing the pie, not redistribute the pie.
The common prosperity we desire is not egalitarianism. To use an analogy, we will first make the pie bigger, and then divide it properly through reasonable institutional arrangements. As a rising tide lifts all boats, everyone will get a fair share from development, and development gains will benefit all our people in a more substantial and equitable way.
Grandpa Xi at Devos 2022
Young Japanese man
We are literally in a state of emergency with Covid-19, so how can I suddenly entrust my will to another party? I can’t trust any,”
https://www.ft.com/content/9b2debce-60be-41ab-9427-37d209af1d66
All indications are that this is not true here, and in fact in the last GE it was the younger S’poreans who voted for the Wankers (They won a GRC with a very young team) and Team Cheng Bok.
Remember Goh Cock Chok Tong’s exhortation to learn from the Japanese: Learn from Japanese — set example leh elites)? Shumething ignore by the PAP.
Too much hot air from the Davos crowd’s BS.
For me the three most severe risks, in no particular order are: infectious disease, livelihood crisis and social cohesion erosion.
[A] variant that causes severe disease at half the rate of Delta and twice as many infections in total will cause about the same number of severe cases. Hospitals in many countries are feeling the strain.
https://www.economist.com/graphic-detail/2022/01/10/the-omicron-wave-in-new-york-looks-worse-than-in-england
Can you imagine the problems Europe will face if more than half of the European population is infected with Omicron within the next few months? A senior World Health Organization made this warning a few days ago.
The West (and S’pore) is rightly trying to live with Covid. But Covid may not want to be merely endemic. It may want to be remain a pandemic.
Man proposes, Nature (or the Supreme Being?) disposes.
Further to Believe that talk of slowing climate change is a lot of hot air?, is the world really prepared to cut back on emissions?
I doubt it. Look at the amount of emission reductions needed.
Scope 1 covers direct emissions from owned or controlled sources. Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by the reporting company. Scope 3 includes all other indirect emissions that occur in a company’s value chain.
https://www.carbontrust.com/resources/briefing-what-are-scope-3-emissions
Or why Taiwan is important to China, USA and the rest of the world.
Note Taiwan Semiconductor Manufacturing Company (TSMC) plans to raise its capital expenditure by almost a third this year. Our Chartered Semiconductors (Remember it?) is now a major part of Global Foundries, owned by the A-Rabs.
Buy oil and gas stocks.
The issue is how much value the oil and gas sector can recapture in a greening investment landscape?
Further to What PM doesn’t understand about GDP and GST,
I think our constructive nation-building media is really trying hard to be constructive and nation building with
The Big Read: Singapore households, businesses not spared from global inflation storm as GST increase looms
Brave editor.
Day 9: Sun shield is fully deployed.
Few more nerve wrecking days to go.
For a second time in two days, the majority of passengers arriving in India on a flight from Italy have tested positive for Covid according to Indian officials.
On Friday, 173 out of 285 passengers aboard the flight from Rome to Amritsar tested positive on arrival.
It follows more than a hundred people testing positive after arriving in Amritsar from Milan on Wednesday.
https://www.bbc.com/news/world-asia-india-59910842
Can’t help but think of Karma at work. Remember when Indians were infecting HK and S’pore?
When I saw the above, I couldn’t help but think of The Pilgrim’s Progress from This World, to That Which Is to Come, a 1678 Christian allegory written by John Bunyan and this map illustrating the pilgrim’s journal to the Celestial City i.e. heaven.
To guide S’poreans through life, read Singaporeans’ Roadmap: Key Personal Financial Schemes And The Decisions You Have To Make At Every Age In Singapore: https://dollarsandsense.sg/singaporeans-roadmap-key-personal-financial-schemes-decisions-make-every-age-singapore/?fbclid=IwAR2sQ56-f6R0nZA9axFctlZlvGpGCBcliqSe6jrQ6b1KdKT6c-d5VTLLQxs. The map’s a summary of the article.
Our very own Pilgrim’s Progress.
How the mighty are fallen
No, not the collapse of the Hang Seng last year.
When I was in stockbroking between the min 80s and the mid 90s, SGX and KLSE were the markets in Asean. The Thai market was “peanuts”.
Today in Asean, it’s the Thai stock market.
SAD.
PM Lee in his New Year message on Dec 31 said that with the economy emerging from the Covid-19 crisis, the Government has to “start moving” on the planned increase in the GST. We now know GDP was up 7.2% last year.
BUT
As the above illustrate, strong GDP growth does not mean that everyone benefits by having higher wages. Some benefit more than others, many don’t benefit.
But then, one doesn’t expect a cabinet of millionaires to understand the problems many S’poreans face. Ordinary S’poreans are what Goh Chok Tong sneeringly called “mediocrities”. Millionaire cabinet ministers are his ideal “non-mediocrities”.
(Btw, last year I wrote that PM would say that GST would rise in 2022: Chiat lat! Wah lan GST going up in 2022. But fyi, I still stand by my views in 2020 that there’ll be no GST rise until after next GE: Why there’ll be no GST rise until after next GE and Double confirm, no GST rise until after next GE. I don’t think economic growth will justify taking the PAP govt taking the risk. Lawrence Wong will caveat a 2023 rise with a lot of “ifs” and “buts”, allowing him to avoid a rise.)
GST: A very brave local academic
So if S’poreans don’t want a GST rise in 2023, just pray to the Eighth Immortal for GDP growth this year of below 3% this year (MTI’s prediction is “3.0 to 5.0 per cent” in 2022.)
When I read,
Apple became the first company to reach a stockmarket value of $3trn. Shares in the iPhone-maker are up by 40% since the start of 2021; the firm now accounts for nearly 7% of the S&P 500. It took Apple 42 years to reach the trillion-dollar mark, in August 2018. It has tripled in value in just over three years.
Economist Expresso
I couldn’t help but think of Warren Buffett.
On 14 December 2021, it was reported
Beat that Temasek, GIC and Ho Ching.
To be fair to him, his investment team initiated the initial purchases. He then decided that they were onto a good thing and kept on doubling up (Or is it doubling down?) repeatedly. HODL.
Two days ago I sent a message to an overseas connection who follows the politics and economy here
What I hate about the constructive nation building media and academics. No analysis, only paeans of praise: https://www.todayonline.com/singapore/no-good-time-raise-gst-2022-provides-window-opportunity-politically-and-economically-analysts-1781846
It was about the balls-licking and ass-kissing media and academic (Yes, one of these academics is Eugene Tan*, brown-noser in chief) reaction to PM’s message that GST sure to rise.
(Btw, last year I wrote that PM would say that GST would rise in 2022: Chiat lat! Wah lan GST going up in 2022. But fyi, I still stand by my views in 2020 that there’ll be no GST rise until after next GE: Why there’ll be no GST rise until after next GE and Double confirm, no GST rise until after next GE. I don’t think economic growth will justify taking the PAP govt taking the risk. Lawrence Wong will caveat a 2023 rise with a lot of “ifs” and “buts”, allowing him to avoid a rise.)
Whatever, there’s a brave local academic. At the end of a really long analysis piece on the outlook for inflation here in 2022, he wrote:
MORE SUBSIDIES FOR NECESSITIES?
As we begin 2022, Singaporeans will be looking ahead to Budget 2022, slated to be announced in February, and any measures it would have to help counter the rising cost of living.
The Government could provide more subsidies for necessities such as electricity, food and public transport. Another way to help would be to delay the raising of the Goods and Services Tax (GST).
I would even go a step further and suggest that reducing the GST by one to two percentage points for a year or two would help. To help offset the revenue loss, the Government could increase the marginal tax rate in the highest income bracket.
Overall, the inflation rate in November 2021 is not something to be too worried about, but high inflation can indirectly lead to high interest rates, and those who have loans should look at the interest rates or refinancing options more carefully.
Citizens would also appreciate government subsidies to help with costs.
https://www.channelnewsasia.com/commentary/inflation-price-interest-rates-increased-cost-living-2404301
Sumit Agarwal, the author, is no Eugene Tan and
is the Low Tuck Kwong Distinguished Professor of Finance, Economics and Real Estate at the National University of Singapore (NUS) Business School, and the managing director of the Sustainable and Green Finance Institute at NUS. He is also the co-author of Kiasunomics and Kiasunomics 2. The opinions expressed are those of the writer and do not represent the views and opinions of NUS.
CNA
I wish him well in his future career outside S’pore. I’m sure he’s an FT where the T stands for Talent.
===========================
*Eugene Tan must be breaking record in ass licking and Eugene Tan must be breaking record in ass licking
I’m really, really surprised that Bayee didn’t say “Your call S’poreans” in his New Year message to S’poreans. Instead according to ST
Cost of living likely a major pressure point in 2022, says WP’s Pritam Singh
https://www.straitstimes.com/singapore/politics/cost-of-living-likely-a-major-pressure-point-in-2022-says-wps-pritam-singh?fbclid=IwAR3OWdiNbkm2TfpmEwlHemcbzZcSxrJU9qFTErumLLBUeFZvN99Y5lLGkRA
Whatever, if the Wankers’ Party don’t want to go back to the days when JBJ was leader (i.e. a joke), time to change Sec Gen and throw out Auntie and Faisal.
Low has asked for feedback from the cadres, and they are all waiting for the CoP report. He’s got two good men he can anoint as Sec Gen. Dennis Tan (a member of CoP) and Daniel Goh who Bayee wants to discipline for criticising him and the other leaders over their calls of Ms Khan: Preparing to hang Bayee, Auntie and Faisal.
But losing on points.
It’s another Thriller in Manila. Not a Foreman versus Frazier fight.
Must say this for constructive, nation-building ST, they do great graphics. Too bad about quality of the journalism.
Thoughts of a Cynical Investor 