atans1

Posts Tagged ‘Fun with numbers’

Save the planet from warming? 1930s depression needed

In Environment, Financial competency, Financial planning on 21/07/2021 at 2:12 pm

Don’t believe me? Juz look at this chart?

Well as this investor is 66 and has no children or grandchildren, he’d rather the world heats up after his death.

Btw, if you got grandchildren, read the link below:

What would different levels of global warming look like?

A rise of a few tenths of a degree will have big consequences for the planet

https://www.economist.com/the-economist-explains/2021/03/30/what-would-different-levels-of-global-warming-look-like

Covid-19 in India: BS data on deaths

In India on 20/07/2021 at 3:03 pm

India has officially recorded more than 414,000 Covid-19 deaths so far.

But according to a BBC report,

The Covid-19 pandemic has caused excess deaths in India to cross more than four million, a new study has found.

Excess deaths are a measure of how many more people are dying than would be expected compared to the previous few years.

Although it is difficult to say how many of these deaths have been caused by Covid-19, they are a measure of the overall impact of the pandemic.

https://www.bbc.com/news/world-asia-india-57888460

Karma for infecting the world with Indian variant, a variant that is causing stock markets to fall?

“Investors are concerned that the rapid spread of the Delta variant will derail the trajectory of the global recovery, notably in Asia which still has relatively low vaccination rates and where some widely used vaccines do not appear overly effective against it,” Jeff Halley, senior market analyst, from Oanda told the BBC.

https://www.bbc.com/news/business-57885183

Grandpa Xi trying to suck up to Sleepy Joe?

In China, Commodities on 08/06/2021 at 10:28 am

Good news for 4G leaders and us

In Economy on 04/06/2021 at 5:26 am

World trade is booming.

This chart is even better news:

The bad news, a GST rise is again on the agenda of the Pay And Pay govt.

In China on 03/06/2021 at 10:23 am

M’sia quietly destroys forests, avoiding being named and shamed by the woke

In Malaysia on 02/06/2021 at 6:20 am

Meanwhile Indonesia, Congo and Brazil get bad publicity for doing what M’sia is doing.

Covid-19: Importance of first jab especially for elderly

In Public Administration on 01/06/2021 at 5:42 am

In mid May

Singapore is expecting to administer at least one dose of a coronavirus vaccine to its entire adult population by early August, authorities said on Tuesday, after a decision to widen the gap between doses to inoculate more people faster.

https://www.reuters.com/business/healthcare-pharmaceuticals/singapore-seeks-covid-19-vaccination-all-adults-by-august-2021-05-18/

The first jab is very important because

Very small numbers of people have been admitted to hospital with Covid several weeks after having one vaccine dose, a study of UK patients has found.

https://www.bbc.com/news/health-56933756

So PM’s message that we are ahead of schedule is good news.

The BBC report goes on to say,

Most of those affected were frail and elderly and at high risk of being very unwell.

Hence PM’s call yesterday

For those with elderly parents or relatives, please encourage and persuade your old folks to get vaccinated.

He reported that 280,000 elderly people have yet to book appointments and urged them to do so as soon as possible. The govt should hunt them down and vaccinate them forcibly, if necessary, for their own good and the nation’s prosperity.

So far S’pore is doing pretty well : 37% have had one dose and 28% have had the two doses. Lawrence Wong for PM!

Covid-19: Relax S’poreans, PAP govt is doing a good job

In Public Administration on 30/05/2021 at 4:51 am

Despite being snubbed at last GE (only 60% leh), and S’poreans giving PM the finger, the PAP govt is still working hard, serving S’poreans.

Where the millionaire ministers are failing is not telling us the end game? Are they aiming for 100% vaccination before opening the floodgates to Indian FTs to infect us? Or is it 60% before allowing them in?

A Muslim country gets more US aid than Israel and that’s only the start

In Uncategorized on 26/05/2021 at 5:13 am

Look at the above and one wonders why Muslims criticise the US so much. Four of top five aid recipients are Muslim countries.

Stock analysts make fortune tellers look good

In Financial competency on 25/05/2021 at 10:49 am

Not much difference in FT intake is there?

In Economy on 19/05/2021 at 9:51 am

The PAP govt and the constructive, nation-building but independent media tell us that govt policies are reducing FT numbers especially in the PMET segment. But doesn’t seem to show does it? 2020 is different because of the travel restrictions and the collapsing economy.

No wonder the local PMETs are not happy and the 2020 GE showed this.

Worse

Singapore’s heavy dependency on large number of migrant workers has led to us being unable to close our borders despite the Covid-19 pandemic.

For example, Manpower Minister Tan See Leng told Parliament that there was a net outflow of 5,600 work permit and S Pass holders from the construction, process and service sectors each month from March 2020 to April 2021.

Entry approvals were granted to an average of 5,100 workers per month from last November to address the shortfall – but even this could not be sustained due to the dramatically worsening Covid-19 situation in the workers’ home countries.

Comment :These facts validly illustrate the risks which our immigration policies have created for Singapore!

Lam Keong Yeoh on FB. He was GIC’s chief economist before he retired.

SPH: Gone S$155m, going another S$120m

In Media on 10/05/2021 at 5:01 am

(Writer’s afterword on 12 May 2021 a7 4.30am: This piece underestimates the loss of value to shareholders. Will rewrite soon. Sorry for the ST standard of analysis. LOL)

SPH explained that its operating revenue has halved in the past five years due largely to a decline in print advertising and print subscription revenue caused by an ‘unprecedented disruption in recent years’.

Over the past five years, SPH increased spending in technology, product development and data analytics talent by 48%, to more than S$20m. It has also invested S$35m into digital content and audience development talent in the newsrooms.

So it has spent at leastS$55m on these projects: S$11m a year.

SPH also spent on new consumer-facing digital platforms and products, averaging more than S$20 million a year over the past five years: more than S$100m over 5 years.

It has thus spent over the last 5 years more S$155m or an average of at least S$31m a year.

SPH’s average monthly unique audience across all SPH titles over the past two years has nearly doubled to a record 28 million, with digital circulation surpassing print circulation.

However, digital subscription and digital advertising have been unable to offset the decline in print advertising and print circulation revenues. As a result, SPH expects the losses of the media business to continue and widen.

SPH’s media business … recorded its first-ever loss of $11.4 million for the financial year ended 31 August 2020. If not for the Jobs Support Scheme (JSS), the loss would have been a deeper $39.5 million. For the six months
ended 28 February 2021, pre-tax profit before tax fell 71% to $3.1 million compared to the same period last year. Again, if not for the JSS grant, the media business would have incurred a pre-tax loss of $9.7 million.

https://investor.sph.com.sg/newsroom/20210506_102600_T39_AYO9VPTD5YJANBTE.2.pdf

S$155m is not all. SPH plans to give away another S$120m to get rid of SPH Media

SPH will provide the initial resources and funding by capitalising SPH Media with a cash injection of $80 million, $30 million worth of SPH shares and SPH REIT units, as well as SPH’s stakes in four of its digital media investments.

That means its NTA falls from S$1.98 to S$1.82: 16 cents (8%).

Btw, SPH’s Chairman, CEO and other board members, and chief editor earn more than a successful global news magazine (Economist prefers to call itself a newspaper) pays similar posts: https://sudhirtv.com/2021/05/06/the-elites-have-run-the-straits-times-into-the-ground-whats-next/?fbclid=IwAR3yZmEtEjswt_68Jjlt9PCSHR_47s1-hkotvine51Qk2EfJyzyuqKJfVq4

Sounds the saying “Pay peanuts, get monkeys” is wrong: Pay gold, get monkeys?

Related post: All those years when SPH was minting $, we had quality journalism meh? 

Men work smarter than women

In Uncategorized on 08/05/2021 at 2:15 pm

In a survey of 10,500 people, led by Géraldine Fauville at the University of Gothenburg, around 14% of women reported feeling very to extremely fatigued, compared with less than 6% of men. This is partly explained by the way that women, who take on a lot of other tasks like childcare, organise their workday. Women reported having roughly the same number of meetings per day as men but their meetings tended to be longer with shorter breaks between.

More at economist.com/graphic-detail/2021/04/17/a-new-study-suggests-that-zoom-fatigue-is-worse-for-women-than-men

Blame PAP govt for the failure to export to the US

In Economy on 05/05/2021 at 6:36 am

Exports to US declined, like that from Switzerland. Other East Asian countries and Asean countries increased their exports. Even the Shithouse that is India increased exports.

Wonder how many S’poreans can find $1600 in an emergency?

In Financial planning on 01/05/2021 at 1:25 pm

Recently I read that more than a quarter of British households could not find £850 ($1,568) in an emergency, the UK stats authority reported.

Any idea about the stats for S’pore anyone?

“Pay peanuts, get monkeys” is rubbish

In Footie on 25/04/2021 at 4:53 am

Just look at this table and if u follow footie as as casually as I do, u’ll get the point. Players’ wages doesn’t correlate with trophies.

And in S’pore there’s Kee Chiu.

S’poreans lead the way in saving planet

In Uncategorized on 18/04/2021 at 4:40 am

TOC and other anti-PAP alt media say we are not doing our part to combat climate change. They as usual, lie.

We, other East Asians and many Europeans (think Italians) are saving the planet by having less babies.

Don’t believe me?

Someone, please tell the Americans, Indians and Africans to lower their birth rates.

Only two sh*thouse countries worse than S’pore

In Environment on 18/03/2021 at 4:09 am

Our CO2 emissions growth rate was the third worst of any, after Burundi and Niger. Natural gas still accounts for almost 96% of our energy mix at the end of 2019.

Things were made worse due to deforestation, which led us going from a net carbon absorber to a net emitter, from 2012 to 2014.

Yum Seng

In Uncategorized on 15/03/2021 at 1:48 pm

Trebles all round

PAP’s govt Covid-19 relief measures are third world not first world

In Public Administration on 08/03/2021 at 5:05 am

Going by what Heng said in his Budget statement, you’d think that our spending would be Swiss-standard. Well the spending is not. And other developed countries are spending a lot more than the Swiss.

Ain’t it funny that our five part-time PAP mayors are each paid more than the full time mayor of London, a global city, while us plebs don’t get first world Covid-19 help. Not that I personally need any help. But life is hard for many.

Fill yr boots with commodities?

In Commodities, Energy, Financial competency on 03/03/2021 at 6:25 am

Commodities are having a great run

But commodities are cheap, if one compares them with the cost of US equities.

Covid-19: Russians rip-off Africans

In Uncategorized on 02/03/2021 at 5:54 am

The African Union will pay three times more for Russia’s Sputnik V jab than it is paying for western vaccines. The US$9.75 price per dose for 300m shots of the Russian vaccine compares with the US$3 a dose the AU has agreed for the Oxford/AstraZeneca and Novavax jabs made by the Serum Institute of India, 

The AU is buying jabs on behalf of its member states to supplement supplies from Covax, the WHO-backed facility supplying vaccines to poorer countries, which delivered its first jabs to Ghana last week week.

Covid-19 – S’poreans more resilient than Hongkies, PRCs, Ozzies and Indons

In Uncategorized on 23/02/2021 at 5:12 pm

Don’t worry if you think you are going nuts or bananas. Many people around the world are crying, stressed and feeling overwhelmed.

The good news for S’poreans is that in the region, HK people, Chinese, Australians and Indonesians are more stressed.

Globally the British are the most stressed and the Germans the least stressed.

Kung Flu makes China Great Again

In China on 19/02/2021 at 4:36 am

Readers may not be aware but in the 18th century China was the world’s leading economic power. Then British traders bot Indian opium and sold it to the Chinese.

Thanks to the Wuhan virus, it’s King of the World again in 2020.

Bitcoin: Over US$50,000 yesterday

In Financial competency on 17/02/2021 at 10:24 am

Bitcoin: Shooting for the moon and beyond

In Financial competency on 16/02/2021 at 5:40 am

Bitcoin came close to breaking the US$50,000 barrier at the weekend.

So is it going to Mars as Elon Musk’s first satellite? At the Axel Springer Award 2020, Musk said that he is highly confident that the first crewed flights to Mars will happen in 2026.

Or

What happened to GameStop?

In Uncategorized on 15/02/2021 at 4:16 am

It closed last Friday at US$52.40.

What a ride. The shares started the year at US$18 and hit US$483 on January 28.

GameStop: What goes up, comes thumbling down

Bitcoin consumes ‘more electricity than Argentina’

In Uncategorized on 14/02/2021 at 9:24 am

And the energy it uses could power all kettles used in the UK for 27 years, University of Cambridge researchers say.

Why global recovery depends on effectiveness of Oxford/AstraZeneca Covid-19 vaccine

In Emerging markets on 11/02/2021 at 8:37 am

There are concerns about the effectiveness of the Oxford/AstraZeneca vaccine. South Africa has stopped using it while it is reassessing the situation. It says that the vaccine is not effective. The vaccine was offering “minimal protection” against mild and moderate disease in young people.

But the World Health Organization has just recommended the Oxford/AstraZeneca coronavirus vaccine for use worldwide by all adults, including the elderly.  It also recommended a gap of 8 to 12 weeks between doses.

But remember WHO screwed up by sucking up to China this time last year.

Whatever, many countries, especially poorer ones, have betted big time on the jab, because it will be sold at cost during the pandemic and is easy to store and transport. Some 500m doses have been ordered through the African Union and several hundred million doses more through Covax, a scheme designed to help poorer nations get vaccines.

Post Covid-19 world: not “broad, sunlit uplands”

In Energy on 10/02/2021 at 4:51 am

It could be a really bad place.

Prices of oil and battery metals (In the the electricity age, post oil world, we need batteries to store electricity) are flying. Both are in demand at the same time as we supposedly transiting from oil into electricity. Adds to inflation pressures (Non existent today) in a world awashed with stimulus money.

Add probable food riots (There’ll be food riots in 2021), and the post Covid-19 world is shaping up to be a pretty dismal place for developing countries. SAD.

There’ll be food riots in 2021

In Financial competency, Financial planning on 05/02/2021 at 5:29 am

 Corn prices are up 45% from a year ago to US$5.55 a bushel and soyabeans are now 56% more expensive to US$13.71. Wheat is only up 16% while rice is 27% higher.

US recovering faster than China

In Uncategorized on 01/02/2021 at 5:01 am

No not Trump talk: it’s the IMF forecast.

Trump’s record in the time of Covid-19:

In Uncategorized on 29/01/2021 at 4:09 am

“The evil that men do lives after them;
The good is oft interred with their bones.”

William Shakespeare, Julius Caesar

What went wrong in the US: many people died and many jobs were lost (but the latter is the American way when the economy slows down)

But

Electrivc vehicles not going to save planet

In Uncategorized on 28/01/2021 at 5:11 am

Petrol driven cars rule OK even in 2040.

Covid-19: Indian developed vaccine more expensive

In India on 14/01/2021 at 11:17 am

Covishield, the AstraZeneca vaccine manufactured by the Serum Institute of costs the Indian govt Rs200 (US$2.7). Covaxin the the vaccine indigenously developed by Bharat Biotech costs Rs206 a dose: 3% more.

And don’t forget, India has not fully approved Covaxin– India’s Covid-19 vaccination: Do you feel lucky?

Oz: Where Chinese buying property?

In China on 07/01/2021 at 4:25 am

Looks like Darwin LOL

Why?

Chinese spies need accommodation to spy US Oz base there?

Akan datang: food inflation

In Commodities, Economy, Financial competency on 04/01/2021 at 7:10 am

Remember you heard it first here that food prices will be going up as we recovery from a recession

Food prices have surged in recent months. The UN’s Food and Agriculture Organisation reported a 6.5% increase in its food index in the 12 months to November. This was the largest monthly increase since July 2012. Cereal prices were almost 20% up on a year ago because of poor harvests and stockpiling because of the pandemic. Rice is in short supply due to poor harvests, stockpiling and bottlenecks.

FYI in Cynical Historian: Our very own Exodus story. From the “Land of milk and honey” to the Wilderness of the desert: Workers’ Paradise no more: Devan Nair at work in the 1960s.

Post Covid-19: India’s ascent but there’s a catch

In China, India on 29/12/2020 at 6:04 am

The UK-based Centre for Economics and Business Research (CEBR) said India will become the third largest global economy by 2030.

India had overtaken the UK as the fifth-biggest economy in 2019 but has slipped behind it again due to the pandemic’s impact. It won’t take over again until 2024, the CEBR says India’s economy will go on to overtake Germany in 2027 and Japan in 2030.

But the bad news for India is that China will overtake the US to become the world’s largest economy by 2028, five years earlier than previously forecast, according to the CEBR.

China’s management of Covid-19 would boost its relative growth compared to the US and Europe in coming years.

FYI in Cynical Historian: 1960: PAP turns S’pore into a Workers’ Paradise

Why bears think a bust is on the way

In Financial competency on 27/12/2020 at 5:07 am

Hence they think there’ll be a reckoning like the dot-com era meltdown.

Covid-19: Why white racists must be happy

In Uncategorized on 27/12/2020 at 4:34 am

People from ethnic minorities in the UK are significantly less likely to take the coronavirus vaccine – with warnings of targeted online scaremongering the BBC reports.

A study from the Royal Society for Public Health found 57% of black, Asian and minority ethnic (BAME) people said they would take the vaccine.

This compared with 79% of white people who would take a Covid vaccine. More at https://www.bbc.com/news/education-55332321

In the US an FT reports is titled

Black Americans wary of Covid vaccine effort

History of institutional racism has made minority groups sceptical of vaccinations

It goes on to report that 42% of black Americans said they would take a Covid-19 vaccine, compared with 61% of white Americans, according to a recent Pew Research Center opinion poll.

Post-Covid-19, why West should give Indians a break on the use of coal

In Environment, India on 26/12/2020 at 3:39 am

Burning coal is a big contributor to climate warming. India is given a hard time by the West because of its expanding use of coal: even China is promising to use less of it. But Modi is proud to burn ever more coal even if the resulting pollution kills Indians.

India should point out that Hindus (most of the population, too bad about the beef eating Muslims and their cousins, whisky drinking Pakistani generals) are vegetarians.

Modi should tell the West “Do you want us to eat more meat? And help worsen climate change resulting from a warmer earth?” And to the human right activists complaining about the treatment of beef-eating Muslims, “Our policies keep the number of beef eaters from growing. We even hope to cut the numbers down. You want them to grow?”

In short, the deal with the West is “We remain vegetarians, so let us burn coal even if the pollution kills us. Oh and let us beat up the Muslims”.

S’pore drops 92 places

In Economy, Environment on 22/12/2020 at 6:37 am

In the UN Development Programme’s Human Development Index (HDI), S’pore is ranked 11. Something the local MSM and millionaire ministers crow about, while TOC, TRE and their ilk on social media pretend the HDI doesn’t exist or call it “fake news”.

But a new report presents an adjustment to the HDI for planetary pressures.

The adjustment corresponds to multiplying the HDI by an adjustment factor, creating the PHDI where P stands for “Planet”.

“If a country puts no pressure on the planet, its PHDI and HDI would be equal, but the PHDI falls below the HDI as pressure rises. The adjustment factor is calculated as the arithmetic mean of indices measuring carbon dioxide emissions per capita, which speaks to reducing carbon dioxide emissions, and material footprint per capita, which relates to closing material cycles.”

Go to http://report.hdr.undp.org/part-3.html for charts and an animation to explain this verbal garbage

Whatever, we drop 92 places. Many developed countries also like liddat but we fall the mostest. Go to page 255 of http://hdr.undp.org/sites/default/files/hdr2020.pdf for table.

Where US beats China hands down

In Banks, China on 20/12/2020 at 5:44 am

Providing personal service in banking. In China, they prefer apps. More high tech. Besides personal service in Chinese banks sucks.

HK ordered 22.5m doses of Covid-19, waz PAP govt’s ordered?

In Public Administration on 13/12/2020 at 4:27 am

When I read

Singapore will invest S$25 billion – or 1 per cent of its gross domestic product (GDP) – in research, innovation and enterprise for the next five years. 

The Research, Innovation and Enterprise 2025 Plan (RIE2025), announced by Finance Minister Heng Swee Keat at a press conference on Friday (Dec 11), includes a new national programme to prepare for future epidemics.

https://www.channelnewsasia.com/news/singapore/singapore-invest-25-billion-research-develop-talent-13751100

I remembered reading that Hong Kong has ordered 7.5m doses from Pfizer and BioNTech, and 7.5m doses from the Chinese pharmaceutical group Sinovac. It’s planning to order a similar amount from AstraZeneca.

Meanwhile, as for S’pore’s orders, S’pore won’t be last in the queue for any vaccine, according to PM.

Where be unicorns? Not India or Western Europe

In China, India, Indonesia on 09/12/2020 at 11:19 am

But America and China. And in SE Asia, Indonesia.

Related posts:

Time for India to ban Paytm, Zomato, Byju and Dream11?

Can India afford to boycott Chinese investors?

Deflation? What deflation?

In Economy on 03/12/2020 at 7:09 am

We keep reading of deflation

Singapore’s core and headline inflation both weakened last month, continuing a deflationary trend seen in previous months.

Inflationary pressures are likely to remain muted for the rest of the year, experts said.

Core inflation, which excludes accommodation and private road transport costs, came in at -0.2 per cent year on year last month, slightly below the -0.1 per cent seen in September, according to data released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) yesterday.

Constructive, nation-building ST in late November

, yet for most of us the prices of daily necessities (no more discounts from Fairprice on French butter or cream cheese)), or small luxuries keep creeping up: think Old Chang Kee’s curry puffs or fish balls. SAD.

No, it’s not the PAP govt “fixing” the data, it’s something Europeans have a problem with too

The prices of things that matter to us go up, the prices of things we don’t think about (even if they are important to us), go down.

30% are really stupid as are 52%

In Financial competency on 02/12/2020 at 5:01 am

No I’m not talking of the 30% who die die must vote for the likes of Lim Tean.

Around 30% of people in the West get this question wrong in multiple studies:

“Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?”

• More than $102
• Exactly $102
• Less than $102
• Do not know

This question is part of three financial literacy questions

1) Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?
 More than $102
 Exactly $102
 Less than $102
 Do not know
 Refuse to answer
2) Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with the money in this account?
 More than today
 Exactly the same
 Less than today
 Do not know
 Refuse to answer
3) Please tell me whether this statement is true or false. “Buying a single company’s stock usually provides a safer return than a stock mutual fund.”
 True
 False
 Do not know
 Refuse to answer
  1. Source: Lusardi and Mitchell (2011b)

Answers

1 More than $102

2 Less than today

3 False

Are S’poreans any better? I doubt it because we could be a lot worse

Only 48 per cent of households have signed up with a new electricity provider two years after the market was liberalised

Those who did not switch said they found it troublesome to compare prices and are worried a new provider might close down

Read more at https://www.todayonline.com/singapore/less-half-all-households-have-switched-electricity-providers

Myth PAP cares more for GDP than for Sporeans?

In Economy, Political governance, Public Administration on 28/11/2020 at 11:02 am

Millionaire ministers prefer to lock down economy to save lives seems to be the implication of u/m.

What do you think?


Dr Goh and his merry men

For all their academic brilliance Ah Loong and team have not advanced beyond tinkering with the framework that Dr Goh Keng Swee, Hon Swee Sen and Albert Winsemius devised. Evolution is fine to a point. But surely the world has undergone revolutionary change. When they were constructing their model of serving MNCs as a path to grow the economy, serving MNCs was “neo-colonialism”. Today even Red China serves as as the MNCs’ factory.

Problem S’pore, PAP face

Related posts

Why S’pore’s economic progress went downhill after Dr Goh retired

— Dr Goh’s HK counterpart had similar views on MRT and other major issues

— Why S’pore industrialised in the 60s

— SG50: Three cheers for Goh Keng Swee


Remember, the 4G leaders failed their legitimacy test: Why PAP aiming for 65% of the popular vote. (Btw, written in 2018: Why even with 4G donkeys, PAP will retain power.)

And based on what PM, Lawrence Wong and Shanmugan said the PAP is very aware that their legitimacy is waning: Legitimacy problem for the PAP as 9% of voters get smarter

But the bad, sad news is how they are trying to fix the legitimacy problem. Instead of listening to Tharman’s views (see below), the PAP are trying to shift the goal posts, lowering the high water mark of success: now only aiming for 65% of the popular vote as their high water mark of popularity and success, not -70%+ mark of the past: How the PAP plans to fix its legitimacy problem.

And we must be a more tolerant democracy, with greater space for divergent views, and a more active civil society, without the public discourse becoming divisive or unsettling the majority.It will be good for Singapore if we evolve in these three ways. They will each help ensure stability in our democracy in the years to come. And they will tap on the energies and ideas of a younger generation of Singaporeans and their desire to be involved in public affairs.

Part of Tharman’s FB post

What a lot of hot air

In Environment on 23/11/2020 at 5:12 am

No wonder the planet is warming rapidly, endangering in particular Changi Int’l ( Another headache for Changi Int’l) and S’pore in general (Ever wondered why PM wants to build polders? and 2025: LKY’s memorial unveiled)

No, not the usual hot air from millionaire ministers like Kee Chui (RCEP: Kee Chiu minister talks cock) trying to justify their salaries (Did LKY ever have to justify his salary when he was in charge?). Or loonies like Lim Tean or M Ravi (who really is a looney).

No, the headline was provoked by UK officials working on climate change abatement. They point out that unnecessary emails have a carbon cost: https://www.theguardian.com/technology/shortcuts/2019/nov/26/pointless-emails-theyre-not-just-irritating-they-have-a-massive-carbon-footprint

But as the FT points out “Everything is relative. Just one small hamburger has the same carbon footprint as sending 10 emails every day for a year.”

RCEP: Kee Chiu minister talks cock

In Economy on 22/11/2020 at 9:00 am

At the the signing of the Regional Comprehensive Economic Partnership (RCEP)

After what has been a challenging year, the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement “will be the bright spot that points the direction ahead”, said Trade and Industry Minister Chan Chun Sing on Sunday (Nov 15). 

“The signing of the RCEP agreement is a timely boost to the longer-term prospects of the region. It will be the bright spot that points the direction ahead,” Mr Chan told the media after the signing.

Constructive, nation-building CNA

Bright spot? What bright spot?

The RCEP does bugger all for S’pore. No expected impact on real income. SAD.

Money talks, bull shit, like Lim Tean, walks is juz noise.

Any wonder that S’poreans have little confidence in the $4G leaders?

The 4G leaders failed their legitimacy test: Why PAP aiming for 65% of the popular vote. (Btw, written in 2018: Why even with 4G donkeys, PAP will retain power.)

Better still for S’poreans, based on what PM, Lawrence Wong and Shanmugan said the PAP is very aware that their legitimacy is waning: Legitimacy problem for the PAP as 9% of voters get smarter

But the bad, sad news is how they are trying to fix the legitimacy problem. Instead of listening to Tharman’s views (see below), the PAP are trying to shift the goal posts, lowering the high water mark of success: now only aiming for 65% of the popular vote as their high water mark of popularity and success, not -70%+ mark of the past: How the PAP plans to fix its legitimacy problem.

And we must be a more tolerant democracy, with greater space for divergent views, and a more active civil society, without the public discourse becoming divisive or unsettling the majority.It will be good for Singapore if we evolve in these three ways. They will each help ensure stability in our democracy in the years to come. And they will tap on the energies and ideas of a younger generation of Singaporeans and their desire to be involved in public affairs.

Part of Tharman’s FB post

Talking cock, growing rich

In Uncategorized on 19/11/2020 at 6:29 am

Between 2001 and 2015, the Clintons earned US$154m for speaking engagements: U$132,022,000 for him, US$21,648,000 for her. This tit bit came from a recent article in the Economist’s 1843 magazine.

Indians can counter better than Americans

In India on 07/11/2020 at 11:04 am

In its general election last year, India counted 600m votes in a few hours, compared with the days it will have taken to tally about 140m votes in America.

Economist

No wonder Indians dominate the H-1B visas the Americans give out to techies.

Why we needed FTs by the cattle truck loads

In Economy on 06/11/2020 at 4:57 am

From Nikkei Asia. It also part of constructive, nation-building media? Move aside SPH, MediaCorp running dogs. PAP govt now got FTs doing their propaganda for them. (Related post: Our education system that screwed up?)

Our stock exchange now like Peenoy stock exchange

In Uncategorized on 29/10/2020 at 4:55 am

How the mighty have fallen. When I was in equities trading and brokerage from the mid 80s till mid 90s, S’pore was the tua kee market in SE Asia, even excluding CLOB.

Now we are almost Peenoys.

Worse. Very little difference between them and us in new IPOs, needed to refresh the market.

But our SGX managers (los of mama FTs) are paid a lot more than their Filipino counterparts. Given how close we are to Peenoy standards, how about paying our SGX monkeys, peanuts, pesos or rupees, not S$?

Why Indians in US of A support Trump

In Uncategorized on 22/10/2020 at 2:49 pm

He keeps out Muslims.

Btw, did u know that in France, there is a right to blaspheme any religion? So Muslims who kill, attack or verbally abuse or merely criticise those who they say blaspheme Islam shouldn’t have come to France, or if they are born there should bugger off to somewhere like Pakistan where to blaspheme Islam is a crime punishable by death. But then these Muslims want the first world benefits of living in France, without obeying its laws.

Why S’pore is rich, while S’poreans are poor: view of TRE writer

In Political economy on 22/10/2020 at 6:21 am

Further to Why S’pore is rich, while S’poreans are poor: Chris Kuan opines (Btw, Chris has explained that he was just channeling the FT writer), here’s an interesting piece from a TRE writer. It’s worth a read.

A new measure needed

I know it’s not cool to admit to it, but I’m doing well. I am the official owner of a flat that, once you minus the outstanding liability (ie the outstanding mortgage), leaves me with a sum of at least S$200,000 plus. I have a main job in professional services (accounting) and statistically speaking, I produce around US$103,181 worth of value every year.

Yet, despite my statistical wealth, I am economically unsecure. My best hope is that my main job will keep me on for at least another 20-years and a significant number of you who are reading this will support the advertisers on this blog so that I can afford to buy an extra cup of coffee every month. If, God forbid, I have any serious ailments in the immediate future, my best bet is to die instantly so that I don’t become a burden to my family.

What I’ve expressed would seem strange to anyone living outside of Singapore. However, anyone from Singapore will understand because what I’ve mentioned reflects the disparity between “Statistic” Singapore and “Real” Singapore.

As part of “Statistic” Singapore, I’m doing well. There’s a property to my name (I avoid using the word own as there is a mortgage to my name), and property prices in Singapore are generally higher than in most places (logic of small land area and many people living in the area) and therefore my paper worth is comfortable. Singapore also has a relatively high Gross Domestic Product (“GDP”) for a small island with a limited number of people and if you look at the GDP per capita, the only nations with a higher GDP per capita are Luxemburg (Tax Haven for wealthy Germans), Macao (Gambling Haven) and Qatar (gas station). So, as part of “Statistic” Singapore, my share of the national wealth is US$103,181 a year. This makes me better off than my friends in Western Europe or the USA. Measures of our GDP success cab be found in the following links:

Link 1 and Link 2

It goes without saying that my reality in Singapore is less rosy than what it appears to be in “Statistic Singapore.” Yet, despite this fact, the government has spent countless times talking about our economic statistics and leaving aside the economic devastation brought about by Covid-19, our government inevitably goes back to our GDP statistics.

In fairness to our government, it’s not the only government to fall back onto various economic indicators as how well they are doing. Donald Trump for example cannot stop talking about stock market highs whenever someone talks about his government’s record.

You could say that it’s only natural for everyone to want to show themselves in a good light and economic statistics are probably the best way to do it. So much of our lives are based on economics and I guess you could say that when governments talk about the economy, it’s a way of showing that there’s money to give us goodies.

However, as the differences between Statistic Singapore and Actual Singapore have shown, GDP is a flawed measure of how well a country is doing as it only looks at one aspect of life in a nation. So, could there be another way of measuring how well a country is doing?

I think one of the best ideas comes from the small Himalayan Kingdom of Bhutan, which came up with the concept of Gross National Happiness (GNH). To a certain extent, there are aspects of this measure of happiness which one could say are unique to the Bhutanese situation. We also need to remember that Bhutan is not the idealistic Shangri La that is portrayed to be and looks to India as a centre of economic assistance. There is also the problematic issue of having to conduct surveys on a yearly basis.

Having said that, the basic idea of GNH is right. The Bhutanese has qualified happiness into several aspects, which include things like the environment, health, cultural diversity and community vitality in addition to the usual economic measurements. A graph of what GNH comprises of can be found below:

Now, admittedly its harder to measure GNH with its various aspects than GDP. However, as argue, GDP is a flawed measurement as it only acknowledges the fact that life more than just economics. If you look at the situation in Singapore, you’ll find that our government is obsessed with GDP. All you need to do is to ensure that enough people are employed and nobody actually starves to think that you’ve done a good job. There is, for example, no need to look at the type of jobs that people are getting and whether things like whether I’m worrying on whether I might be able to afford to send my kid to school or whether I get sick or not.

Let’s go back to my personal example. As GDP indicates, I’m doing well. I have a job and a property in my name. The government can claim that it’s technically done well. People like me are producing USD100,000 plus a year and so on and so on.

However, GNH forces those in power to see that people are not just economic digits. Under the GDP measure, you’d be successful if you see that your people have a job even if that job pays $500 a month. However, under the GNH measurement, you have to ensure that people not only have jobs, but they can afford to send their kids to school, live in normal conditions and don’t have to breath toxic air as part of daily life.

Our traditional method of measuring things is too narrow and doesn’t portray things accurately. Isn’t it time we look at trying to measure things more accurately so that we can build a more livable society for the greater number of us?

Tang Li

*Although I’ve been based mainly in Singapore for nearly two decades, I’ve had the privilege of being able meet people who have crossed borders and cultures. I’ve befriended ministers and ambassadors and worked on projects involving a former head of state. Yet, at the same time, I’ve had the privilege of befriending migrant labourers and former convicts. All of them have a story to tell. All of them add to the fabric of life. I hope to express the stories that inspire us to create life as it should be

Covid-19: Int’l media is racist

In China, Indonesia, Japan on 21/10/2020 at 7:00 am

As are our ang moh tua kees. Think Tan Jee Say: praising NZ’s PM for what she did in containing the pandemic, while ignoring Asian countries which did better. Of course he was dissing our PAP govt, which to be fair hasn’t done a great job, only a good job. It lets too many mamas in: Covid-19: FTs from India reinfecting S’pore

That are my conclusions after seeing this (from ang moh FT which with Economist gives fair coverage)

The int’l media in general, and the ang moh tua kees praise here praise NZ and its PM. It’s done good things but it’s two islands in the middle of the Pacific Ocean.

Praise Vietnam, China, Korea Indonesia and Japan. FT and Economist do this btw in their coverage.

Why S’pore is rich, while S’poreans are poor: Chris Kuan opines

In Political economy on 18/10/2020 at 4:23 am

Why the world’s richest countries are not all rich
The latest international price comparison shows widening gap between material wellbeing and GDP

FT Headline

It goes on

[T]he income from foreign-owned capital is part of GDP, because it originates within the country, but not part of gross national income, because it is not owned by nationals.



FT

Here’s what Chris Kuan wrote on FB commenting on the FT article

“Said this many times before that our high GDP per capita does not really mean Singaporeans are as rich as the numbers say we are. But let’s hear it from Nobel Laureate Angus Deaton – note that Singapore is one of those eleven richest countries mentioned and his concluding paragraph that exclusive focus on GDP per capita or its growth rate makes little sense:

“Eleven of the 12 countries in the list are either investment hubs or resource-based countries. In both cases, consumption is a relatively low share of total GDP, often because profits account for a larger part of national income than wages and salaries.

Over time, profits will contribute to the income of at least some households and, in turn, their consumption. But at any given moment, GDP per capita includes amounts that are not part of people’s current wellbeing, or their own income.

Furthermore, the income from foreign-owned capital is part of GDP, because it originates within the country, but not part of gross national income, because it is not owned by nationals.

This is a reminder that, absent strong redistributive channels, rich resource-based economies are often internally unequal, because the ownership of resources — especially mineral resources — is confined to a few. That GDP tells us nothing about who gets what is another of GDP’s most familiar criticisms. Nor does GDP speak to the sustainability of natural resources or the use of the environment. The problem is not the accounting, but the definition of GDP.

These arguments call not for the abolition of the GDP numbers, which are essential, but for a more intelligent use of the accounts and for measuring what it does not include.

Continuing efforts to integrate environment-economy accounts or to make GDP less oblivious to distributional questions need support. For policymakers, an exclusive focus on GDP per capita or its growth rate makes little sense. To put it bluntly, the top 12 list is not always where a country would want to be.”

53% of households as stupid as Tan Kin Lian?/ How to help them

In Energy, Financial competency, Financial planning on 17/10/2020 at 11:16 am

2nd Minister for Trade and Industry, Dr. Tan See Leng rightly encouraged households to consider switching to fixed-price plans offered by electricity retailers under the Open Electricity Market (OEM), as fuel price fluctuations are expected to continue into the months ahead.

From the comments online and the fact that the majority (53%) of households have not switched out of Singapore Power (SP), it is apparent that many people are still skeptical, ignorant, or confused about the benefits of switching to a retailer under the OEM.

One of the chief complaints is why SP can’t just match the pricing of OEM retailers. There are good reasons why SP is not in a position to match the pricing of OEM retailers but I’ll not go into the matter because it’s a very technical and dry subject, involving boring stuff like competition, price discovery and SP’s role.

Whatever, these comments 53% remind me that presidential candidate TKL (Remember he lost his deposit and KPKBed about the loss) a few yrs, KPKBed that he was confused about choosing an OEM retailers and he wondered SP couldn’t just match the pricing of OEM retailers.

As an educated man (OK, OK he only finished sec4 in RI and has an actuarial qualification) TKL was soapboxing. As I said above, there are good reasons why SP can’t do this.

To save the 53% households and in particular TLK from their stupidity, these households should be assigned a retailer other than SP to get the better rates. Who they get is the luck of the draw and they’ll be given six months to move to another retailer without penalty. Actually all the rates are pretty close,

Btw, what some really smart S’poreans did: Some householders laughing all the way to the bank. Even with the recent price rise, they are ahead.

Related post on the rates juz before Covid-19 when MSM was spreading fake new: Why MSM no kanna POFMA for spreading fake news?

Finally, thinking about it TKL and his campaign manager, one Goh Meng Seng, are really dumb. If 53% of households are as stupid as he is, he should have been elected president. Happily he and Meng Seng can’t organise as orgy in a brothel.

Covid-19 harm: India slumps, China surges

In China, India on 16/10/2020 at 5:12 pm

The IMF’s latest forecasts, released on October 13th, spell out just how long the economic harm from covid-19 will last. It think that in many places output will stay well below its pre-pandemic trend, as labour and capital are only slowly reallocated from shrinking industries towards thriving ones. Last October the fund expected India’s economy to grow by more than 40% by 2024; now it expects half that. By comparison, look at the chart to see that China is expected to suffer very little.

How many here prepared to trade-off more unemployment benefits with higher taxes?

In Economy, Financial competency, Political economy on 16/10/2020 at 5:15 am

Not many, see below. Even got some (luckily only 12%) “disagree with unemployment benefits, as they believe there are enough training and job opportunities”. Queen Jos and other millionaire ministers must be smiling. These people must also be part of this group: Sia suay! 24% of S’poreans are more PAP than the PAP on our reseves)

When posed with a scenario of paying higher taxes to fund unemployment benefits:

Only 31% of Singaporeans feel those unemployed should receive financial support while looking for work, even if it means paying higher taxes. But support is higher among Gen Zs (37%) compared to the older Baby Boomers (23%)

12% of Singaporeans disagree with unemployment benefits, as they believe there are enough training and job opportunities

57% of Singaporeans believe in giving financial support to those unemployed, but not at the expense of themselves having to pay higher levels of tax

https://blackbox.com.sg/everyone/2020/09/16/sg-employment-is-there-any-chance-of-going-back-to-the-way-things-were (Yes, Yes I know this was done in August)

S’poreans are a selfish lot. They deserve a Pay And Pay government.

What do you think?

Did u know Heng said no more additional round of support measures?

In Economy, Public Administration on 08/10/2020 at 6:18 am

On Oct 3, DPM Heng announced via Facebook that there will not be an additional round of support measures. I did not read about it in the constructive, nation-building: but maybe it was tucked away in somewhere. I read in an article in the Edge. (Details of the how the $100 billion is being spent: Cheat sheet for Fortitude Budget.)

At this stage of the crisis, my team and I are fully committed to support our workers and businesses by refining our policies, expanding outreach and improving implementation, to make the most of the $100 billion committed to the fight against COVID-19. We hope that businesses and workers can make the best use of the measures that have been committed.

FB

But note out of 33 billion in Fortitude Bugget, S$13 billion is for “Contingencies Funds” Cheat sheet for Fortitude Budget.

And the btw use of reserves is peanuts:

From the above mentioned link:

Whatever, all the budgets means the government’s total fiscal injection will be S$92.9 billion, almost one-fifth of the country’s S$500 billion economy. Only Germany and Japan spend more than us when it comes to pandemic stimulus packages as a percentage of GDP. Germany 31.6% and Japan 19.6%.

The government has so far drawn down S$52 billion from our reserves to fund the packages.

Impressive?

“Peanuts”: our reserves estimated to be worth over US$710 billion or S$1 trillion by ang mohs. Only 5% of our reserves drawn down and do remember that S$13 million is for “contingencies”. Exclude that S$13 million and only 4% of reserves will be spent.

Bah humbug, a reasonable man may say.

The World Turned Upside Down

In Energy on 03/10/2020 at 2:03 pm

No not Trump getting the Kung Flu.

But clean energy group NextEra surpassing ExxonMobil in market capitalisation on Friday.

The World Turned Upside Down” is an English ballad. It was first published on a broadside in the middle of the 1640s as a protest against the policies of Parliament relating to the celebration of Christmas.

According to American legend, the British army band under Lord Cornwallis played this tune when they surrendered after the Siege of Yorktown (1781)

https://en.wikipedia.org/wiki/The_World_Turned_Upside_Down

S’poreans want to work from home

In Economy, Property, Public Administration on 30/09/2020 at 7:23 am

An article in the constructive, nation-building ST about S’poreans slowly returning to work in offices reminded of an FT chart in late August or early Sept.

Black mark or slap in the face for the PAP govt’s handling of Covid-19?

Compared with Europe, S’poreans don’t want to return to offices. They all want to skive is it?

Seriously maybe S’poreans think the PAP govt mishandled the Covid-19 pandemic?

The FT reports that whereas the continental European countries think their govts handled the pandemic pretty well, the British and the Americans think their govt’s mishandled the pandemic, hence their reluctance to return to offices.

But then there is this survey: Criticism of PAP govt’s handling of Covid-19 is really “noise”. It shows that S’poreans think the PAP govt is doing a good job in containing the pandemic.

Say one thing, but do another thing isit?

What do you think?

Covid-19: reducing the infection numbers the Indian way

In India on 29/09/2020 at 2:24 pm

There are credible international reports that India had significantly reduced its coronavirus testing, lowering its daily tally of reported cases as India was poised to breach the threshold of 100,000 infections a day. But it didn’t work did it, the threshold was exceeded.

But it wasn’t an original Modi idea. His pal Trump has been advocating that the US reduce testing to keep a lid on the cases. But most states gave Trump the finger.

But not Florida (the governor is a fan of Trump). Recently as the number of cases increased, the state decreased testing, imitating India.

 

Covid-19: 1m more cases and India’s the leading Covid-19 nation

In India on 16/09/2020 at 1:57 pm

The US has 6.61m Covid-19 cases and the rate of increase is slowing. It’s the world’s leading Covid-19 nation. India is second and running fast to catch up.

India’s coronavirus infections have now passed 5m cases.

The virus appears to be spreading much faster in India than any other country, with daily cases crossing 90,000 for the five days up until Tuesday.

BBC

The good news is that the death rate is lower than in many countries with a high caseload: only more than 80,000 people have died in India. The US has around 196,000 deaths.

But don’t worry, Modi has plans for India to beat the US to be the leading Covid-19 nations, with more deaths than the US.

Anything Trump can do, Modi can do better. LOL.

Why there’ll be no GST rise until after next GE

In Economy, Political governance, Public Administration on 11/09/2020 at 7:29 am

The govt will take steps to strengthen its revenue position like raising the Goods and Services Tax (GST), said PM in waiting Heng Swee Keat on Friday (Aug 28).

I’m sure he knows -that

[T]wo ill-timed increases in the consumption tax, in the name of fiscal probity, both of which pushed the economy into recession.

Economist on Abe’s legacy

So that’s why maybe Heng also said the govt will “carefully monitor” the timing of such moves by considering the state of the economy and spending needs. “Carefully monitor” is his get-out-jail card of being the public face of Pay And Pay.

I mean with the next GE scheduled by end 2026, a recession in 2024 induced by a GST rise in 2023, is a vote loser. The way the economy is tanking (6% contraction expected), GST can only be raised in 2022 (Economy forcasted to grow by 5.5%) at the earliest. But based on the Japanese experience doing it then is risky. That leaves 2023 and, in turn, carries the risk of a recession in 2024.

Any later than 2023, the PAP is dicing with only 51% of the popular vote in the next GE.

And anyway, fiscal tightening should be resisted until recovery’s well underway: not to be nipped in the bud by a Hard Truth that was BS in the first place.

Casting my Chine fortune sticks, I prophesie that there’ll be no GST rise beforethe next GE. PAP knows the trade-offs and being Mr PAY And Pay could mean that its share of the popular vote falls below the pass mark: 60%.

In the context of a 60- 61% share of the popular vote being mud in the eye for the PAP, anything less than 65% will be seen as less than a smooth transition by the PAP and the voters.

Why PAP aiming for 65% of the popular vote

Related post: How the PAP plans to fix its legitimacy problem.

And remember I predicted this before the analysts: Double confirm: No GST rise this yr.

Covid-19: Postive thinking didn’t work in India did it?

In India on 07/09/2020 at 4:30 am

Update: Modi juz behind his pal Trump in Covid-19 cases. “Catching up with you. Anything u can do, I can do better”. SAD.

(India has recorded more than 90,000 new cases of Covid-19 in the past 24 hours, taking its total above that of Brazil.

The country now has the second-largest number of confirmed cases in the world, 4,204,613. It has reported 71,642 deaths, the third-highest in the world.)

BBC: Updated at 2.15 pm on 7th September.

U/m added at at 2.53 pm on 7th September. SAD.


India keeps recording new coronavirus infections, with yet more people dying: last week, India has recorded the highest single-day coronavirus case count of any country with 82,860 new infections. More than 67,000 Indians, including former president Pranab Mukherjee, have died from the disease, with the death toll climbing above 1,000 people a day.

But Modi’s govt and his party are reassuring Indians that the country’s recovery rate was rising and that its fatality rate was one of the lowest in the world. And Modi no longer discusses the pandemic publicly.

That’s positive thinking (Or is it postive denial?) at work. But it ain’t working clearly.

So it’s poetic justice that Amit Shah, Modi’s enabler, had to be hospitalised for Covid-19 after telling Indians that the country’s recovery rate was rising and that its fatality rate was one of the lowest in the world.

Modi, Amit Shah and BJP, ever tot Ram and pals are still unhappy? First the soldiers’ death than this.

Achtung if you are on CPF Life

In CPF on 06/09/2020 at 6:47 am

DO NOT opt for deferral of yr annual payout to 70 when you become eligible for payout when 65.

Take the money and give the PAP govt the finger.

A fat cat doctor turned free loader pointed out in response to my “I’m a free rider and really proud of it”:

[for] those on CPF Life, it’s better to start at 65 since the underlying interest/capital gains won’t accrue to your beneficiaries if you up lorry.

Based on current life expectancy, the increased monthly payouts won’t compensate for the delayed 5 years, especially for men.

abc

I was lucky enough to be able to opt for the Retirement Sum scheme (used to be called Minimum Sum Scheme).

As the free loader fat cat pointed out:

Delaying payout till 70 makes sense … if you don’t need the money & want to maximise the interest gains, since all interests will be accrued to you or your beneficiaries.

The Retirement Sum is so good that the PAP govt is giving me up to age 80 to opt to convert to CPH Life: CPF Life: What sucks/ Which is closest to Minimum Sum scheme.

Here’s some constructive, nation-building advice that those on CPF Life can use: CPF Life: Don’t choose at 55, wait and analyse.

l’ll end with a good word for the PAP govt (“Feared by the poor, loved by the rich”). Here’s a case where like Robin Hood it takes from the rich to give to the poor CPF Life payouts: Why liddat?/ Save and save

Why we need to know PAP govt’s projected investment returns and why it’s a secret

In Financial competency, Financial planning, GIC, Political governance, Public Administration, S'pore Inc, Temasek on 25/08/2020 at 11:34 am

Look at this table

It shows that its assumed return targets are BS. Fyi, Calpers is the California Public Employees’ Retirement System, a major global investor. As of 2018, the agency had U$360 billion in assets.

Before I go further, some defining of terms. From shumething I wrote in 2018

[O]ver the last 10 years, Singapore’s net investment returns (NIR) contribution (NIRC) to the Budget has more than doubled from S$7 billion in FY2009 to an estimated S$15.9 billion in FY2018.

Waz this NIRC and NIR BS?

NIRC consists of 50 per cent of the Net Investment Returns (NIR) on the net assets invested by GIC, the Monetary Authority of Singapore and Temasek Holdings and 50 per cent of the Net Investment Income (NII) derived from past reserves from the remaining assets.

In other words, we spend 50 per cent of the estimated gains from investment, and put the remaining 50 per cent back into the reserves to preserve its growth for future use.

Associate Professor Randolph Tan is Director of the Centre for Applied Research at the Singapore University of Social Services, and a Nominated Member of Parliament.

Under PAP rule will S’pore become like UK or Venezuela?

Now to why I think we need to know PAP govt’s projected investment returns. In 2016, a reader asked

A Qn: The NIR used for the budget is projected returns. If the projected returns did not materialize, then how? It seemed like insurance agent selling us a policy on projected returns which never materialize.

Am I comprehending the NIR correctly? Because this seemed to me that there might be hefty tax increase down the road if the projected returns did not materialize. This will also affect all the social spending currently on Singaporeans

NIR, Budget untruths, & the President

That is why we need to know the projected Net Investment Returns (NIR) on the net assets invested by GIC, the Monetary Authority of Singapore and Temasek Holdings. Remember NIRC — Singapore’s net investment returns (NIR) contribution (NIRC) -consists of 50 per cent of the Net Investment Returns (NIR) and 50 per cent of the Net Investment Income (NII) derived from past reserves from the remaining assets.

For your info this is what ex-TOC star commentator, Chris Kuan (Today, he seems to be too objective for the team running Terry’s Online Channel: they look to be the ST of S’pore’s cyberspace), wrote:

Your reading of the Constitutional NIR rule is correct – the NIR Contribution is calculated on the expected long term real rate of return (LTROR) on the government’s net assets (assets in excess of its liabilities). Pls note it is REAL returns we are talking about – that is the actual dividends and market valuation of the net assets minus the inflation rate. Therefore not all returns are spent. Then the rule limits the spent to 50% – therefore more than half of the actual or nominal returns are re-invested. Again pls note this is nothing unusual, Norway’s GPF and university endowments permit up to 100% of the returns to be spent.

NIR, Budget untruths, & the President

As to why the PAP govt wants to keep the projected Net Investment Returns (NIR) a secret, I’m sure you are thinking what I’m thinking LOL.

Covid-19: Muslim Pakistan is blessed while Hindoo India is cursed?

In India on 23/08/2020 at 5:44 am

While the land of the Hindoos is suffering from the displeasure of the unappeased Ram and friends (India’s cases soared past 3m, the third-highest in total behind America and Brazil: Why India has to contend simultaneously with Chinese aggression, Covid-19 and floods?), Muslim Pakistan is blessed by Allah.

With a weak healthcare system, large population and many poorer families living in crowded living conditions, Pakistan seemed in danger from the outset of a catastrophic toll from coronavirus.

The danger appeared to increase in June, when doctors in major cities reported that their hospitals were overwhelmed with patients. Intensive care units in the largest hospitals filled up, and families were forced to shuttle relatives around in the search for a bed.

But just a few weeks later, hospital admissions appeared to fall drastically.

Really? Relax, Hindoos, Pakistan may be faking the data. The BBC reports

Data obtained by the BBC from officials in the country’s two largest cities, Karachi and Lahore, show that there was a significant rise in graveyard burials in June that can’t be explained by coronavirus deaths alone.

For example, in Miani Sahib graveyard, the largest in Lahore, in June 2020 there were 1,176 burials this June, compared to 696 in June last year.

Only 48 of the burials this June were of officially recorded coronavirus patients. The rise is likely to be a combination of undetected coronavirus deaths, and patients suffering from other illnesses not getting treatment as hospitals were under such pressure.

Similarly, in Karachi, June 2020 saw significantly more burials than at any other time during the past two years.

https://www.bbc.com/news/world-asia-53742214?intlink_from_url=https://www.bbc.com/news/world/asia&link_location=live-reporting-story

It could be that Pakistan is better at faking the datathan India: Covid-19: Indian death count is fake news?

Trump supports ESG investments

In Corporate governance, Environment, Financial competency, Financial planning on 22/08/2020 at 11:01 am

UBS researchers looked at how ESG investments fared under the Trump presidency: he comes across as a Woke.

Ang moh spends S$9,800 monthly on daughter’s therapy

In Financial competency, Financial planning on 20/08/2020 at 5:29 am

In Ang moh family of three spends S$1,170.44 on food in one week, I reported on an ang moh couple with one kid who spent S$1,170.44 on food and booze in one week. They ate out or had food delivered. This is a lot more than my mum, her maid and I spend on food (including hawkers’ food and fast food) in an average month.

They sure got a lot of money because they also spend S$9,800 monthly on their daughter’s therapy

Alex has been confirmed by the doctor to need some occupational therapy for a couple of conditions so that’s starting to sound expensive! We can put that off till next week to start looking around for a good one.

Occupational therapy will now add to the ABA therapy and speech therapy we already pay for Alex. Raising a child in Singapore is very expensive, especially when they have special needs and you’re a foreigner. We haven’t had to pay the ABA therapy bill during the week of this blog but that sets us back around Singapore $9,800 (£5,490) each month. We saved some during the circuit breaker because all sessions were remote.

It’s the dilemma of any parent whose child has suspected autism; do you hope it’s a phase and they’ll develop late or do you make a choice and invest in early intervention? Fortunately, we chose the latter and it turned out to be the right call. We are lucky that we are both employed in good jobs and salaries. We can afford it for now, but it’s massively impacting our ability to save for retirement. Luckily when she starts school that will actually be cheaper; we are looking forward to that.

https://www.bbc.com/news/business-53531788

Whatever life is really sweet, financially at least, for this expat family. Sorry that their daughter is autistic but then what the gods (or fate) give(s) away, they also take away.

The strange case of the missing $18b in “Contingencies Funds”

In Accounting, Political governance, Public Administration, S'pore Inc on 19/08/2020 at 11:11 am

In https://atans1.wordpress.com/2020/05/28/cheat-sheet-for-fortitude-budget-hali-tied-of-signing-peanuts/ in May, I pointed out that $18bn was in “Contingencies Funds” in the then latest “Fortitude Budget”.

So when I first heard about the latest $8bn in corporate welfare (OK, OK there’s trickle down to the plebs), I tot “Only $5bn left leh”.

But then I learnt

Fresh S$8b Covid-19 measures funded in part by no mid-year bonus for civil servants, lower military spending: MOF

Constructive, bation-building media

So it seems that the entire $13bn has already been spent, and this new $8bn in corporate welfarism is being funded by squeezing civil servants (not that they don’t deserve having less Bismati rice and chicken thighs in their iron rice bowls) and spending less on the military (Can cut meh? Tot our paper generals need every cent in their budget to keep S’pore safe?) and on the development of infrastructure?

An Adrian Tan commented on FB

Smoke and mirrors. They drew down $13bn more than they needed for contingencies: https://atans1.wordpress.com/2020/05/28/cheat-sheet-for-fortitude-budget-hali-tied-of-signing-peanuts/. Now they say the extra $8bn coming from savings. What am I missing? 🤓🙄

No photo description available.

Covid-19: Indian death count is fake news?

In India on 18/08/2020 at 2:37 pm

India has more than 50,000 Covid-19 deaths, overtaking the UK to become the fourth-worst-affected country for fatalities. But the number of deaths per million people stands at 34. Far lower than what has been reported in Europe or the USof A.

The case fatality rate which measures deaths among Covid-19 patients, is just around 2%. Many epidemiologists attribute this relatively low fatality rate to a young population – the elderly are typically more vulnerable to the infection.

But there are experts querying this analysis, saying that the count should be higher, a lot higher

From a BBC report:

[S]ome believe that there is substantial undercounting in several states.

For one, many states, in contravention of WHO guidelines, are not adding suspected cases in the final count.

Second, a handful of states are heavily attributing Covid-19 deaths to patients’ underlying conditions or co-morbidities. Two states, Gujarat and Telangana, appear to have undercounted heavily, as an investigation by health journalist Priyanka Pulla shows. In Gujarat’s Vadodara, for example, the number of deaths grew by just 49% in the last two months, even as the caseload leapt by a whopping 329%.

Third, there have been reported discrepancies between the official toll from the virus and counts from crematoria and burial grounds in some cities. So is India missing a lot of deaths, considering only a small fraction of the population has been tested – around 2% – and many deaths are not being medically reported? Also, only one in four deaths in India is certified for a cause. “Of course there is undercounting as we have weak health surveillance systems,” says Oommen C Kurian of Observer Research Foundation, a Delhi-based think tank. “But the question is about the scale of undercounting.”

Bhramar Mukherjee, a professor of biostatistics and epidemiology at the University of Michigan, says it is “hard to gauge how much underreporting is going on without historical data and calculation of excess deaths during this period”.

“Excess deaths” are the bulk of deaths above normal levels, some of which may have been caused by Covid-19.

More than 230 Indians, including doctors, researchers and students, have petitioned authorities to release information on deaths for at least the last three years to calculate “excess deaths”. 

https://www.bbc.com/news/world-asia-india-53773070

FTs: HK like us; learnt from us?

In India on 18/08/2020 at 7:13 am

FTs rule the financial sector. But at least the FTs in HK are ethnic Chinese not mamas. Chinese privilege in S’pore? What Chinese privilege? More like Indian privilege in financial services and Peenoy privilege in other sectors? SAD.

On Ho Ching’s comments on social media about Temasek being “Little India”, the real “Little India” is StanChart: written a few yrs ago: Last Deepavali in Marina Bay’s Little India?.

Sadly for S’porean PMEs, the prediction was wrong. SAD.

Also wrong: Indians: Why migrating to S’pore is not a good idea

Slow growth sucked, didn’t it?

In Economy, S'pore Inc on 15/08/2020 at 4:50 am

The last time Singapore was in a recession was in 2001 when the dot com bubble burst and the economy declined by 1 per cent. 

Constructive, nation-building media

But life still sucked when growth was low by historical standards.

We’ve had slow growth since 2011. And it sucked for most S’poreans but not for millionaire ministers and reit investors (including self). To be fair, it hurt the PAP ministers electorally in the 2011 GE and PE. They then gave us back some of our money: Are you better off now than you were in 2011?

Another chart showing same thing. Really. That’s why I’m showing it: how numbers are presented can be deceptive.

https://www.macrotrends.net/countries/SGP/singapore/gdp-growth-rate

US ETF has more gold than Japan, S’pore or India

In ETFs, Financial competency, Gold on 09/08/2020 at 6:20 am

US of A gold ETF is tua kee.

Goh Meng Seng will be relieved to learn that China has more gold than this State Street ETF. Still Meng Seng and Grandpa Xi are reminded that America is the hegemon.

Plebs: ETF is Exchange Traded Fund.

Can local bank stocks fall by 37%? (cont’d)

In Banks, Economy, Reits on 05/08/2020 at 4:10 am

Further to Can local bank stocks fall by 37%? And other investment tales, here’s another good reason to think that bank stocks can really tank.

In the UK, where banks are usually generous dividend payers, after the authorities told banks to stop paying dividends until next yr, the banks decided to compete on seeing who could %wise have the largest loan loss provisions. HSBC (where I’ve owned shares since the early 1980s) won this show of macho, increasing provisions by a third more than expected. Shares fell by another 4% on Monday and 3% yesterday. The share price is near its 1996 lows and have already fallen below the late noughties low.

What I’m predicting is that our banks will be increasing their loan provisions beyond analysts’ expectations. They will be reporting their latest results soon.

So it’s possible that our banks’ share prices can fall by 37%.

Last chance to sell as shares recovered their Monday losses yesterday.

Good luck, yield chasers who tot banks were safe. Why not try industrial reits? They’ve held up pretty well. Buy the second liners (not the GLCs) so that I can smile when I look at their prices.

Can local bank stocks fall by 37%? And other investment tales

In Banks, Financial competency on 03/08/2020 at 6:29 am

Last Thurday, DBS fell by 3.09%, UOB by 3.15% and OCBC 3.82% because following the Monetary Authority of S’pore’s July 29 announcement on capping Singapore banks’ FY20 dividends at 60% of their FY19 levels.

Analysts from DBS Group Research, OCBC Investment Research, and CGS-CIMB Research have maintained their “hold” or “neutral” recommendations for the shares of DBS Bank, UOB and OCBC.

But in the past, these analysts (and many others, to be fair) said that the banks’ share prices are underpinned (among other things, to be fair) by their dividend yields of around 6%.

So shouldn’t the dividend yields now adjust to reflect this?

Well if they do, share prices can fall a lot: up to 36-37% from their last traded prices.

Remember you heard this first here. LOL.

Btw, I have an economic interest in UOB via Haw Par:

Btw2, I missed a bullet. I was thinking of buying OCBC shares. Glad I didn’t but btw3 I’m into two dogs that I had tot had bottomed out: SingTel and SPH.

Btw4, I think I’ll stick to my industrial reits, sub-$1 stocks, and penny stocks. Less risky.

Btw5, hopefully if the bank stocks collapse, they bring the market down and I can get some penny stocks at decent prices. Juz grin and bear on SPH and SingTel: no averaging down. Juz collect dividend lor.

Hard Truth about equity markets

In Financial competency on 02/08/2020 at 10:34 am

Apple, Microsoft, Amazon, Alphabet and Facebook now represent more than a fifth of the S&P 500. More impt S&P 500 would be down 5% without them

How the PAP plans to fix its legitimacy problem

In Political governance on 27/07/2020 at 11:11 am

I pointed out yesterday

that 4G leaders failed their legitimacy test: Why PAP aiming for 65% of the popular vote. (Btw, written in 2018: Why even with 4G donkeys, PAP will retain power.)

Better still for S’poreans, based on what PM, Lawrence Wong and Shanmugan said the PAP is very aware that their legitimacy is waning.

Legitimacy problem for the PAP as 9% of voters get smarter

But the bad, sad news is how they are trying to fix the legtimacy problem. Instead of listening to Tharman

And we must be a more tolerant democracy, with greater space for divergent views, and a more active civil society, without the public discourse becoming divisive or unsettling the majority.It will be good for Singapore if we evolve in these three ways. They will each help ensure stability in our democracy in the years to come. And they will tap on the energies and ideas of a younger generation of Singaporeans and their desire to be involved in public affairs.

Part of FB post

, the PAP are trying to shift the goal posts, lowering the high water mark of success: now only aiming for 65% of the popular vote as their high water mark of popularity and success, not -70%+ mark of the past.

Trying to dumb down the voters?

But going by the last GE, 9% of S’poreans are that not stupid. They’ll keep giving the PAP 60-61% in the next GE, no matter what goodies come their way.

So how will the PAP react? They make 55%, the high water mark, two GEs from this one.

And they’ll need to because 2029 is a dangerous for year: Why 30-year old HDB flats difficult to sell/ Why PAP rule will end in 2029.

No wonder, Mr otter is confused by the PAP’s comments just as he’s confused by the stock market collapse and the run on supermarket goods earlier this yr.

Btw, I’ll be talking about the HDB issue soon.

Legitimacy problem for the PAP as 9% of voters get smarter

In Political governance on 26/07/2020 at 11:28 am

The really good news for S’poreans and the really bad news for the PAP is that 4G leaders failed their legitimacy test: Why PAP aiming for 65% of the popular vote. (Btw, written in 2018: Why even with 4G donkeys, PAP will retain power.)

Better still for S’poreans, based on what PM, Lawrence Wong and Shanmugan said the PAP is very aware that their legitimacy is waning.

The Wankers campaigned on the premise that the PAP government is more responsive to people’s concerns when it loses elected seats, as they did in 2011, when the PAP suffered its worst election result.

It went on to change immigration policies, a major source of unhappiness for many voters.

It also gave goodies (Remember Ownself fund Ownself: How we fund our SWFs and Property sales also fund our SWFs) to the Pioneer Generation which not only helped them but also those who cared for them:

Real life examples of what Pioneer Benefits mean:

— A mother and her autistic son are Pioneers. The son has been in a nursing home for over ten years, ever since his mother became too frail to look after him. The monthly bill was about S$4,000 a month and was borne by his siblings. Now this bill is “only” a few hundred dollars a month. The mother’s medical bills (she’s in her 90s and suffers from various chronic conditions) are now minuscule.

The extended family is happy.

— Another Pioneer used to pay $30 when she visited a polyclinic every three months for her medicine etc. She now pays $7.

— Another lady lives in a home because of Alzheimers. The cash from the sale of her flat was paying the bills. Now there is no worry of the cash running out before she dies. Her monthly bills have been slashed. Her working daughter (with children and an unemployed PMET husband) is breathing a sigh of relief.

Are you better off now than you were in 2011?

The Wankers strategy hit a sweet spot with about 9% of the voters.

But the Wankers went further. They also talked of not giving the PAP a “blank cheque”.

This too resonated because this 9% of the voters contrasted GE 2011’s aftermath with what happened after GE 2015 when the PAP got 70% of the popular vote, and in the process nearly making 5 Wanker MPs redundant.

Pay And Pay returned with a vengeance.

 Remember VivianB had said in parly in 2015 (juz before GE) that there was no need to change the price of water because of PUB’s improvements in membrane tech and productivity and that the water tariff and WCT reflected the scarcity of water, but prices went up after GE 2017.

Why Pay And Pay govt wants elections earlier than later

And

Pay And Pay

Articles and analysis of various “price increase” written by Uncle Leong (Remember him?)

Water – “PUB: $1.1b profits last 7 years – how much last 53 years? (Feb 24, 2017)

Service & Conservancy Charges – “S & CC: A truly caring Govt?” (Feb 17, 2017)

Gas – “City Gas prices to rise by 4.5 per cent from Feb 1” (Jan 31, 2017)

Electricity – “Electricity: One of the highest in the world? (Jan 1, 2017)

Childcare fees – “Fee hikes at 200 childcare centres this year” (Jan 1, 2017)

Parking – “HDB car park rates increase 60%? (Dec 16, 2016)

Rubbish fees – “Rubbish fees up: NEA surplus up 32.9%? (Nov 8, 2016)

University hostel fees – “University hostel fees up 6.8% p.a. despite $1b surplus?” (Jun 28, 2016)

Taxis licensing – “Taxi drivers hit by triple whammy?” (Jun 24, 2016)

Hawkers’ misc fees – “Hawkers’ misc fees increased by ? %? (Jun 22, 2016)

Why Pay And Pay govt wants elections earlier than later

Then there was the controversy about the presidency: #hardlymahpresident and Elected President: Oh, what a tangled web we weave cont’d.

Now 9% of voters are aware that S’poreans get the goodies when the PAP doesn’t get a “clear” mandate. And that when the voters give the PAP a “clear” mandate, S’poreans got shoved in the ass, though let’s face it, a hard core 35% love the sensation, while 25% believe it’s good for them. SAD.

So this coming National Day, let’s salute the 9%.

PAP’s useful idiots: s/o JBJ, Meng Seng, Lim Tean, P Ravi and Michelle Lee

In Political governance on 23/07/2020 at 6:56 am

Not me who says this, but a reader from TRE who pointed out that if the PAP had had walkovers in the constituencies where the parties led by s/o JBJ, Meng Seng, Lim Tean, and P Ravi and Michelle Lee stood, the PAP’s share of the vote would be less than 58.7%. (I didn’t verify the figures but it sounds about right because the PAP thrashed the oppo clowns in these areas.)

So Tolonglah Opposition Parties, stop trying to be Indian Chiefs and boosting your own self inflated egos. Become activists, become NGOs, but stay away from polling. Stop insulting us with your mediocre performances.

Veron Rahim writing in TRE

Yes, by calling s/o JBJ, Meng Seng, Lim Tean, P Ravi and Michelle Lee “useful idiots”, I’m putting words into the writer’s mouth. But the facts he points out and which I amplify out justifies my action.

Tharman’s GRC won the biggest majority (75%) and PM’s GRC (72%) the second biggest majority. Surely these %ages helped boast the PAP 61% share of the popular vote? Btw, either Michelle Lee or P Ravi said they “won” in Jurong GRC by “losing”. “Won” as in helping the PAP?

As did Goh Meng Seng. Kate Spade Tin had a 6 point swing in her favour bringing her share of the popular vote to 72%. Well done Kate, she put Chinese male chauvinist Meng Seng in the gutter where he belongs.

The piece in full

GE2020 shows us that we need less ‘Indian Chief’ opposition parties around

* Take Note Only Contested Seats are Counted.

Since 2011 all seats have been contested. But from 2006 and prior, only the contested seats determined the % of votes.

So if the Reform Party and Red Dot United did not run, and Jurong, AMK and Radin Mas were walkovers, the PAP mandate would only be 58.7%

It would be even less, if People’s Voice and PPP did not contest Mountbatten and Macpherson.

Lee Hsien Loong can still proudly say strong mandate because these parties allowed him to. No PAP Prime Minister has had any vote share below 60%. It should have happened this time.

It’s not about giving them a walkover, what’s the point if the contest only serves their purpose to justify their support? I dare say if a stronger opposition party had contested these areas, they would have still lost but their percentage would have been in the mid 30% or higher and that would also have brought the winning percentage for the PAP below 60%.

So Tolonglah Opposition Parties, stop trying to be Indian Chiefs and boosting your own self inflated egos. Become activists, become NGOs, but stay away from polling. Stop insulting us with your mediocre performances.

And no to you combining either. Your entry will not help the Worker’s Party, PSP or SDP. Instead you can become ordinary members of these parties and help them in the groundwork. Or become bloggers.

Veron Rahim



Covid-19: The really bad news for India

In India on 20/07/2020 at 5:20 pm

India has now over a million cases and has the third largest number of coronavirus cases in the world after the US and Brazil.

But this figure is likely to be a gross underestimation of the number of Covid-19 cases because India (and the other sub-continent countries) are far behind other countries with serious numbers of Covid-19 when it comes to testing.

Xia suay! Technical recession? What technical recession?

In Economy, Financial competency, Media on 15/07/2020 at 4:23 am

Singapore in technical recession after GDP shrinks 41.2% in Q2 from preceding quarter due to COVID-19

Constructive, nation-building CNA

Singapore enters technical recession as GDP plunges 12.6% in Q2: Flash data

Constructive, nation-building ST

Singapore has entered a technical recession after its economy contracted 41.2 per cent in the second quarter from the previous three months, dragged down by weak external demand and Covid-19 “circuit breaker” measures.

MediaCorp’s Constructive, nation-building freesheet

Kee Chiu if you believe it’s a “technical recession”.

The term “technical recession is used when there are 2 consecutive quarters of slightly negative numbers. There is nothing “technical” about the 41% collapse after “only” a 3% fall in the previous quarter.

Kee chiu if you still believe it’s a “technical recession”.

In America, the usually post-fact society, when the GDP was likely to fall because of Covid-19, a recession was “called” even by the Fed, the world’s central bank, even before the monthly data came out.

Kee chiu if you believe we juz had a “technical recession”.

The ang moh media got it right when they reported:

Singapore enters recession after economy shrinks more than 40% quarter on quarter

CNBC

Singapore Slumps Into Recession With Record 41.2% GDP Plunge

Bloomberg

But then they are not constructive, nor nation-building. Ask Trump.

The use of the term “technical recession” by our constructive, nation-building media must have resulted from a media briefing by some xia suay Ah Beng from MTI. Kee chui chiu if you know his identity?

For the avoidance of doubt, the technocrats at MTI did not use the term: https://www.mti.gov.sg/Newsroom/Press-Releases/2020/07/Singapore-GDP-Contracted-by-12_6-Per-Cent-in-the-Second-Quarter-of-2020

GE2020: Could have been 23 Oppo MPs

In Financial competency, Political governance on 14/07/2020 at 5:19 am

Emphasis mine.

12,367 votes (0.5% of the PAP’s popular vote) in all the marginal constituencies where the PAP scored around 55% or less (West Coast GRC, East Coast GRC, Bukit Panjang, Bukit Batok, Marymount) – and we might have woken up to headlines that Singaporeans elected 23 MPs from parties other than the PAP.

Or nearly a quarter of Parliament.

That’s how close this election was – in a way that even 2011 and arguably even 1991 wasn’t. To understand this, pay very close attention to the marginal seats (>45%, rounded to 1 decimal place) and count what would happen if all marginal seats flipped.

Carissa Cheow

For a more detailed analysis, click Carissa Cheow

Is China trying to con US or trying real hard

In China on 13/07/2020 at 4:40 am

The case for China tricking Trump over the Phase One deal

The case for China trying really hard to keep its word.

Why Amitabh Bachchan won’t die of Covid-19

In India on 12/07/2020 at 5:14 am

Because he’s Indian.

Bollywood superstar Amitabh Bachchan says he has tested positive for coronavirus.

Writing on Twitter, the 77-year-old superstar confirmed his diagnosis and encouraged anyone who had been in contact with him in the past 10 days to get tested.

He was transferred to Nanavati Hospital in Mumbai, according to local media.

A hospital official told The Indian Express newspaper that he was in a stable condition.

Don’t worry fans. Not only will he get the best treatment but India’s track record on two areas of the pandemic is good. But than that of the UK and the USA.

India’s recovery numbers are promising

The data suggests that those in India who have been diagnosed with the virus are recovering from it faster than they are dying from it.

And

India’s death rate is also very low.

India has so far recorded about 20,160 deaths from Covid-19. In absolute numbers, that is the eighth highest tally in the world. But per million of the population, it is low.

So relax fans, be happy he’s not in the US or UK.

Covid-19: What India gets right

In India on 10/07/2020 at 2:27 pm

India gets a bad press internationally  because six months after its first confirmed infection it has overtaken Russia to record the world’s third largest number of Covid-19 cases.

But amidst all the criticism two facts stand out.

India’s recovery numbers are promising

The data suggests that those in India who have been diagnosed with the virus are recovering from it faster than they are dying from it.

India’s death rate is also very low

India has so far recorded about 20,160 deaths from Covid-19. In absolute numbers, that is the eighth highest tally in the world. But per million of the population, it is low.

Covid-19: More Pakistanis are dying than Indians

In India on 09/07/2020 at 6:08 pm

In the time of Covid-19, better to be a Muslim in India than in Pakistan. Btw, better to be a Muslim in Bangladesh than in India or Pakistan.

Criticism of PAP govt’s handling of Covid-19 is really “noise”

In Political governance, Public Administration on 05/07/2020 at 5:13 am

Not me but Blackbox.

Interesting that the PAP govt’s standing has not been diminished by the cock up over FTs that resulted a lockdown (albeit a soft one) circuit breaker being imposed. If you read TRE and other anti-PAP alt media or social media, you’d think that the only reason S’poreans are not rioting over the handling of the Covid-19 pandemic is fear of further govt repression.

Reasons why S’pore give the PAP govt the benefit of the doubt on the FT dorms?

FT dorms scandal: Blame NIMBY S’poreans not the PAP govt (Ownself blame ownself)

Covid-19: We have our FT Indian workers, Poland has its coal miners (World wide problem)

Ang mohs rioted meh? Not South Asians? Workers’ dorms are multi-racial? (Pay-back time for rioting)

Covid-19: “Well-off” local family living (almost) like manual workers from India (Many S’poreans live like FT dorm workers)

Would the dorm workers prefer to be repatriated to India and Bangladesh? (Better here than back home)

Schematic on how Covid-19 affects the body explains why infected Indian dorm workers are still alive (Btw Covid-19: Death loves diabetic ethnic Indians in hospital and Covid-19: Ethnic Indians, Pakistanis and Bangladeshis got higher death rates in UK)

Vote for the PAP if you enjoy watching movies from home

In Internet, Telecoms on 04/07/2020 at 7:23 am

The UN Economic Commission for Africa reports downloading a five-gigabyte film in Ethiopia or the Democratic Republic of Congo can take between 12 and 14 hours, versus just over 11 minutes in S’pore.

Covid-19: Ang moh runs up US$85,000 bill

In Vietnam on 01/07/2020 at 7:13 am

Fortunately for him and us, it’s not here.

An ang moh pilot who got Covid-19 while boozing at the Buddha Bar* in Ho Chi Min City was put on an Ecmo machine for eight-and-a-half weeks.  This machine is only used in the most extreme cases, to try to keep a patient alive. The machine extracts blood from a patient’s body and infuse it with oxygen, before pumping it back in.

An Ecmo machine costs US$5,000-10,000 a day to operate and he was reliant on one for eight-and-a-half weeks.

The ongoing wrangling over who will cover the costs are causing him stress and diverting attention away from his recovery. At first, the Hospital for Tropical Diseases paid out of its own pocket for his treatment. Then, it seemed the British embassy would intervene. His work insurance eventually covered the cost. But the funds for his stay in Cho Ray Hospital are still up in the air.

https://www.bbc.com/news/world-asia-53196009

If he had died, it would have been a first for Vietnam: no recorded death from Covid-19.


*The Buddha bar cluster, as it became known in the local press, was the single biggest outbreak of coronavirus in south Vietnam, infecting nearly 20 people both indirectly and directly.

BBC

Covid-19: Death loves the obese with hypertension and diabetes, not the elderly

In Uncategorized on 29/06/2020 at 4:27 am

It is not old age, it is obesity that kills, the BBC African Service reports.

The evidence from several South African hospitals suggests that alarmingly high levels of obesity – along with hypertension and diabetes – in younger Covid-19 patients are linked to many fatalities.

It is believed that as many (about seven million) South Africans suffer from hypertension and diabetes as from HIV. That is one in eight of the population. Some of them are undiagnosed.

Two-thirds of coronavirus deaths in South Africa so far are among people aged under 65, according to a Prof Madhi, “Obesity is a big issue, along with hypertension and diabetes.”

Covid-19: India rising

In India on 23/06/2020 at 5:24 pm

But not in a good way. Second to Brazil in acceleration phase.

Btw, last week India overtook the UK to have the fourth-highest number of Covid-19 infections globally.

SAD.

Covid-19: Death loves diabetic ethnic Indians in hospital

In Uncategorized on 23/06/2020 at 5:12 am

In great danger of meeting

if hospitalised for Covid-19: diabetic ethnic Indians, Pakistanis, Sri Lankans and Bangladeshis living in the UK.

South Asian people are the most likely to die from coronavirus after being admitted to hospital in Great Britain, major analysis shows.

It is the only ethnic group to have a raised risk of death in hospital and is partly due to high levels of diabetes.

The study is hugely significant as it assessed data from four-in-10 of all hospital patients with Covid-19.

https://www.bbc.com/news/health-53097676

Why isn’t Australia targeting India as Oz’s next golden goose in place of China?

In China, India on 21/06/2020 at 11:08 am

Oz has grown rich because of China’s growth into an economic superpower second only to the US of A.

For the past decade, China has been Australia’s largest trading partner and now accounts for 32.6% of its exports.

https://www.bbc.com/news/world-australia-52915879

Australia’s mines have delivered iron ore, coal and gas to fuel China’s growth – preferred to rivals in Brazil for their quality and geographic proximity. It’s a deal that benefits both nations.

Other sectors – education, tourism, agriculture, wine – have also flourished in the Chinese market.

BBC

But now Oz is over reliant on China. And China is now squeezing Oz’s balls and pussies: think the barley tariffs, the warning to Chinese students wanting to study there that Oz are racists (But then Ozzies are equal opportunity racists. They also don’t like Indians: think the Melbourne incidents.), and the threats to buy less Oz agricultural products. All because China thinks Australia should sit down and shut up and not criticise China. They should just take China’s money and be grateful.

So Oz is trying to diversify away from China. Korea, Japan and Vietnam are major target markets.

India should be a major target market but Australia only has set a goal to send A$45bn (US$31bn) in annual exports (A$25bn in 2019) to India by 2035: yes 2035. Last year, it sold more than A$200bn to China alone.

Maybe Ozzies think Indians are unlikely to become as rich as the Chinese? And that India will remain poor and an economic pygmy, unlike China? And Vietnam has a better chance of becoming the next golden goose?

Or that yellow skins are better than dark skins?

BBC

Four in five fund managers believe stocks ‘overvalued’

In Financial competency, Financial planning on 18/06/2020 at 1:42 pm

Xia suay. So why market keeps flying?

But as market keeps going up, it means that a lot of these “bears” are actually buying. Fear of missing out and “greater fool out there”.

S’pore: Where we really have choices

In Economy, Political economy, Political governance, Public Administration on 16/06/2020 at 11:20 am

On her FB page, a friend (real life) who migrated to Australia (her genius of a son could not pass Chinese to save his life and ended up in neighbourhood “good” school: not good enough for mummy) in a conversation about purchasing power parity (The PPP is a macroeconomic tool that allows the comparison of what it costs to buy the same/similar basket of goods across different countries.) wrote: 

In my observation Singapore has a big range, so happily the options are many – in housing, transport, dining & food. If one is happy/limited to shelter in public housing, MRT/uber & airconed hawker centres/bistros you can have a pretty decent life. In Australia the range is much narrower, for instance, there isin’t that many ultra-expensive restaurants nor cheap and good food outlets

She also analysed the relative rankings of S’pore and Oz:

Surprisingly Singapore just scraped through at #50 of the world’s most expensive countries with a price level of minus 4% below average. Australia has the dubious honour of being #6 with a price level of +68% above average.

Whatever, we may be living in a de facto one-party state, but we sure can mix and match our life style choices.

Vote wisely: Is there really a better alternative to PAP 4G?

But try to make sure PAP share of the vote juz exceeds 60%: Why 65% of the popular vote is so impt to the PAP. If more sure to PAP and Pay

Pay And Pay

Articles and analysis of various “price increase” written by Uncle Leong* (Remember him?)

Water – “PUB: $1.1b profits last 7 years – how much last 53 years? (Feb 24, 2017)

Service & Conservancy Charges – “S & CC: A truly caring Govt?” (Feb 17, 2017)

Gas – “City Gas prices to rise by 4.5 per cent from Feb 1” (Jan 31, 2017)

Electricity – “Electricity: One of the highest in the world? (Jan 1, 2017)

Childcare fees – “Fee hikes at 200 childcare centres this year” (Jan 1, 2017)

Parking – “HDB car park rates increase 60%? (Dec 16, 2016)

Rubbish fees – “Rubbish fees up: NEA surplus up 32.9%? (Nov 8, 2016)

University hostel fees – “University hostel fees up 6.8% p.a. despite $1b surplus?” (Jun 28, 2016)

Taxis licensing – “Taxi drivers hit by triple whammy?” (Jun 24, 2016)

Hawkers’ misc fees – “Hawkers’ misc fees increased by ? %? (Jun 22, 2016)

Why Pay And Pay govt wants elections earlier than later

————————————————

*PM’s defamation suit against Uncle Leong coming to court soon. Talk cock, sing song Lim Tean is defending him but charging a lot of money. Not pro bono work.