Monday, October 31, 2011

Tan Chuan-Jin on workplace racism

CNA reported that Minister of State for Manpower and National Development, Tan Chuan-Jin said discriminatory practices have no place in Singapore.

Speaking at the Singapore Tripartism Forum on Monday, he said tripartite partners are aware that many Singaporeans have expressed anxieties of discriminatory practices at their work place, including allegations of foreign managers hiring their own kind.

Discriminations of Singaporean that I informed for some time are finally getting some media and PAP's attentions. Below are my suggestions.

Doctors should be at least 90% citizens. We do not mind import 10% of the best talent FT doctor to mentor us

On 2010, 331 Singaporeans received full and conditional medical registration (aka registering to be a doctor in layman) and for foreigner, the number is a whopping 484. [see this]. Only around 40% of registered doctors year 2010 are Singaporeans. Probably most Singaporean doctors are trained overseas funded by parents. PAP wants to give FT doctor high pay by controlling local medical school intake.

We must increase citizen medical students intake in our local university. Those exceptional FT doctors are welcome for transferring their know how. FT doctors should not be more than 10% of annual doctor registration. 

Singaporeans shunning SIA pilot jobs???

SIA wants India Indian pilot. Even 500 degree short sighted man is welcome. Singaporean go unemployed but FT must be given well paid jobs.
SIA is extremely notorious for getting FT pilots even with so many locals eager to join. It was speculated that many of the pilot job openings are either given to Malaysians or white man. Flying is not difficult, in fact it is easier than driver a car due to GPS and auto-pilot system.

Nevertheless, SIA is always adamant that good things must go to foreigners. Citizens must be bullied. This must stop.

The worst discriminations occur in NUS/NTU
See my series of "Lies of PAP's foreign talent marketing".
[see this]
[see this]
[see this]
[see this]
...etc many many more, till date 13 series was published. The above articles focus on how NUS/NTU tries to keep Singaporean from doing PHDs and more prestigious degree programs.

Before pointing fingers at companies, its better for Tan Chuan-Jin to set NUS/NTU, not least our GLCs straight.

We must undo Kuan Yew's wickedness
Kuan Yew believe that FT is smarter because there are sure much capable people from 7 billion of population pool worldwide. If PAP plan to import merely, top 0.01% of FT all over the world, and lets "assume" they are all smarter than Singaporeans it would be 700,000. Singaporeans would forever be deprived of good education and jobs.

In fact, the claims that top xxx% of foreigners are better than Singaporeans are PAP's sick fabrication, to deprive Singaporeans in higher learnings, and decent employment. 

Sunday, October 30, 2011

The workers need to be led: The top 1% making a fool out of people

TheThe two video clips below shows Peter Schiff going down to Occupied Wall Street with a sign of "I am the 1%". Despite the obvious fraud of Wall Street banks and super rich fleecing off the 99%, the protesters are made a fool in front of camera facing Peter Schiff.

Nevertheless, Peter Schiff is an extremely clever and charming man. Peter has an agenda but nevertheless, he is still a bit more honest than many of his compatriot. I am sort of a fan of Peter Schiff blog and have been reading for years.

All social movement needs the leadership of elites who turn on their own class
Looking at history, workers are not able get themselves organize and worse, they are not even conscious of how the system steals from them. Currently, Peter scored his killings because he was facing the workers who clearly do not match his intellectual prowess.

Peter would not talk in such condescending manner if he is to debate with Elizabeth Warren, currently one of the smartest elites more to the left. Below, shows how Warren is able succinctly explaining things in simple words.

Warren, although being rather centrist and moderate, are being deem radical by the elite class. When the class divide accentuate, more radical and powerful personality may jump ship and join the masses. At that time, the elite class will regret.

All revolutions are being led by cross over elites from Gracchus brothers, to Washington, Jefferson, Adams or even Roosevelt...etc. Even though elites are enjoying all privileges from social injustices, the radicalization of society will prompt some to jump ship.

Full clips of Peter Schiff is below

Saturday, October 29, 2011

Singapore inflation numbers 2011 September and comparison

On the month August 2011On the month September 2011, CPI increase as below
Singapore 5.5%
Malaysia 3.4%
Indonesia 4.61%
Thailand 4.03%

Again Singapore emerges as the most ugly among the contestant. Assuming CPF interest rate of 3%, more than half of the CPF savings will be wipe out after 30 years. This is assuming that PAP is honest enough to provide the correct CPI number. I suspect our real CPI may be around 8-10%.

Yingluck's asset enhancement
Since few months ago, Yingluck become a pariah in the opinion of world's elites for her promises to help the poor farmers by increasing the rice price. Given the recent horrible flood in Thailand, rice price may rise inevitably even without mandate from Yingluck.

Some people have started hoarding food in Thailand fearing food shortages due to crop destruction by the flood.

In the take of elites, land price must rise, stock price must rise, rice price must not. Today, the elites have become the enemies of people. Anything good to the people is bad for the elites, and they would rather see poor Thai farmers bankrupt rather than accommodate a little inconvenience of food price increase.

With the increase of rice price on sight and rampant inflation, it may reach a point where Singaporeans go out and clean all their savings on rice. When NTUC shelves are empty, more Singaporeans will be panic further inducing more rice hoarding. When foreign investors see this, they will bank run Singapore property and asset.

Property price will fall like crazy. No better way to punish our elites and early birds are sure to make a profit on that.

Asset enhancement is only welcome if the rich are holding those assets. That includes property and stocks. Enhancement that target to increase poor man's wealth is loathed by the rich. Rice price must not rise, wages must not rise.

Thursday, October 27, 2011

The lies of PAP's foreign talent marketing 13: Discrimination of Singaporeans Part 3

Sorry, Singaporean NOT welcome
Taking cue from those idiot professors in NUS/NTU, many companies here have extreme discrimination practices targeting Singaporeans. Today an advertisement on Jobdb explicitly looks for Pinoys.

Being an engineer myself, I assure you 1000% that everyone from poly here can do the above job of AS400 programming. The above job is most likely a position from in the bank. The hiring managers will come up with usual excuses that "no Singaporean" is willing to work in bank or "no Singaporean talent" can be found.

State sponsored aparthied
Discriminations against Singaporeans are not hard to prove, but on the contrary. Unfortunately, discrimination against Singaporeans is often state sponsored by PAP. PAP has shown everyone that few or no Singaporean are admitted for post-graduate. ST, Keppel, Semcorp would go on hiring spree in career fair held in PRC or India, at the expense of creating unemployment for citizens. The endorsement and support from PAP in discriminating Singaporeans are reasons that no redress is done.

Notorious companies and racism
Instead of meritocracy, Singapore has now descend into cesspool of racism. Very often when the manager is a PRC, no one else but PRC will be hired, and for an Indian manager, no PRC will be considered never mind how smart the candidate is. Despite of this everyone have the common aim of discriminating Singaporeans.

One of the most notorious cases is Citibank IT and software department located in Changi Business Park. Citibank technological back office in Singapore is extremely notorious in hiring India Indian. Formerly working in Changi Business Park and having the chance to visit them once, I have the surreal feeling of standing in the middle of New Delhi, or Taj Mahal.

I have a friend telling me such racist recruitment practices are not proscribed to back office, though I am not able to confirm it.

Doubters are always welcome to observe in front of Citibank at Changi Business Park, where the back office is housed, in the morning office hour.

PAP slandering Singaporeans, foreigners followed PAP
Today, Singaporeans are under ponderous attack from enemies, both domestic (PAP and managers) and foreigner managers. PAP and the manager class forever complain they "cannot" find Singaporean to do the jobs, Singaporeans are daft and stupid, Singaporeans are lazy.

All these are the most nefarious lies. Singaporeans work quietly without complain even under extreme unreasonable demands. Try those unionized French workers. Singaporeans are the most intelligent, the most hard-working, the most tolerant, in the world. See the diagram below.

Singaporeans are far worse than discriminated, Singaporeans are persecuted.

Singaporeans work extreme long hours, OT for free (Source US Federal Reserve Bank of St Louis)

Singaporeans have the highest IQ in the world (Original source Richard Lynn)

Wednesday, October 26, 2011

Feminist attacking men again with support from PAP 1

CNA reported women make up just 6.9 per cent of board members of listed companies on the Singapore Exchange (SGX).

The findings came in the first Board Diversity Report to track gender diversity in SGX-listed boardrooms.

Minister of State for Community Development, Youth and Sports Halimah Yacob described the situation as "dismal".

The report is a joint collaboration between BoardAgender, an outreach arm of the Singapore Council of Women's Organisations, and the NUS Centre for Governance, Institutions and Organizations.

Madam Halimah said while Singapore women have achieved much progress in education and at work, they continue to face obstacles in rising to top leadership positions in the corporate world.

She called on government-linked companies and Temasek-linked companies to take the lead and support the appointment of more women to their boards.

Feminist's choking bullshit and their self victimization
In Singapore, other than PAP, feminist groups are perhaps the most sickening cabal. In reality, feminist are some delirious bunch who cannot live without self-victimization, poisoning the society with idea that women are persecuted by man. They never cease to cite dubious statistic to support their lies.

Men are under siege
The truth is exactly the opposite. Despite repeated claims that women are bullied, men are under attack by the society.
2010 numbers of student enrollment

First, lets not look at the university number because of massive sex ratio rigging by mass import of FT by PAP.

The JC, which consist mostly of local elite students that are going through 12 years of basic education sees over-representation of woman. Our JCs which provides the bulk of local under-graduate has 55.3% female versus 44.7 male. Our dumping ground ITE has merely 35.7 female versus 64.3% male.

Boys's performance in the school is so bad that they need rescue.

Wicked MOE 
MOE itself is a useless organization. In school, there are tacit policies that target to destroy the psychological well being of boys. All school teachers are told to give privileges to girls no matter how bad they are. Boys at the slightest transgression, are given punishment or a spate of dress down.

Feminization of boys
Girls mature earlier and are able to focus. Boys innately are more courageous and vibrant. The vivacity of boys is deem as disciplinary problems everywhere in MOE schools.

Western intellects are starting to recognize the detrimental effects of schools for boys.

Schools are an “inhospitable” environment for boys, writes Christina Hoff Sommers, where their natural propensities for rough-and-tumble play, competition, aggression, and rambunctious violence are cast as social problems in the making. Michael Gurian argues in The Wonder of Boys, that, with testosterone surging through their little limbs, we demand that they sit still, raise their hands, and take naps. We’re giving them the message, he says, that “boyhood is defective.” By the time they get to college, they’ve been steeped in anti-male propaganda.


Tuesday, October 25, 2011

The wicked legacy of Mah Bow Tan: High HDB price to stay

CNA reported that a new Design, Build and Sell Scheme (DBSS) project, Trivelis, will be launched this week at Clementi Ave 4, about five minutes from Clementi Mall and the MRT station.

The developer of the project, EL Development Pte Ltd, has also released indicative prices for the units - S$375,000 to S$470,00 for a 3-room flat, S$530,000 to S$650,00 for a 4-room unit, and S$658,00 to S$770,000 for a 5-room flat.  

EL Development said the size of the units will be from 646 square feet for a 3-room flat to 1,130 square feet for a 5-room unit.

Mah Bow Tan apparently eager to boot-lick Kuan Yew by cranking HDB to ever crazy price. In theory, any house that is more than 6 times the annual family income is considered a bubble. The ideal house price should be around 3 times the annual family income.

A 1,130 sq feet abode is extremely small by any standard, and PAP would want us to pay S$770,000 for it, which is around 12 years of our unbelievably rigged family median income of S$5000. (your wife must work then can)

Once losing to asset inflation, there is no way to regain the ground back  
Given the extreme leverage of banks, there is no way PAP will allow property price to drop in any significant manner. A 30% drop in property from the peak 5 years ago in USA has actually cast all US banks into zombies.

The economics crisis in 1997 saw Tat-Lee bank close shop.

PAP has cheated Singaporeans
Singaporeans acquiesced to the robber Land Acquisition Act on the implicit social contract that housing remains cheap. Right now, PAP has reneged the social contract, and condemned Singaporeans to slaves of banks and landlord. PAP has profited massively through time arbitrage of land. They have corrupted the minds of honest Singaporeans by rewarding speculators and punishing savers.

Eventually, Singaporeans will pay a massive price for bringing PAP to power.  

Monday, October 24, 2011

Runaway food price

Bloomberg reported, the United Nations is closely monitoring the potential for “serious food shortages” in parts of Southeast Asia after flooding devastated rice paddies and other crops and as aid deliveries are disrupted.

About 12.5 percent of rice farmland in Thailand has been damaged, along with 6 percent in the Philippines, 12 percent in Cambodia, 7.5 percent in Laos and 0.4 percent in Vietnam, as storms hit the region since September, the UN Food & Agriculture Organization said in a report dated Oct. 21.

Food price hike
Rough-rice for January delivery climbed 3 percent to $17.215 per 100 pounds at 2:42 p.m. Singapore time, the highest price for a most-active contract on the Chicago Board of Trade since Sept. 21.

A warning to PAP
Stop emptying our pockets through property hike. The people need surplus savings for shock buffering. It is well agreed that once food price reaches 30% of family income, any minor shock may induce revolution.

Sunday, October 23, 2011

The lies of PAP's foreign talent marketing 13: Singapore the racist state 1

The excerpts of an article of Lianhe Zaobao hush up are as below. English MSM has largely hush it up.






The translation is as below.

There are increasing complains on the bias in favor of employing foreign workers.

TAFEP (ripartite Alliance for Fair Employment Practices) says, majority of the cases in the past involved age, language and race discrimination but since the beginning of this year, the complaints of discrimination against Singaporean workers has exceeded all the other cases.

An employee from a tech company Tan Jenny(pseudonym) complained to TAEFEP that the foreign managers of her company favor their own compatriot, and reject Singaporeans even if Singaporeans are fully competent for the job.

This leads to foreigners being the majority of employee while Singaporeans become the minority.

The company investigated at the urge of TAEFEP and found certain departments have been increasingly hiring foreigners.

TAFEP, is closely related NTUC and Lianhe Zaobao is a propaganda mouthpiece of PAP government. If both are having concerns about discrimination of Singaporeans, the real situations are ten times worse that what Lianhe Zaobao has depicted.

Singaporeans must act. We must be courageous else we are going to be bullied. Any Singaporean who feels discriminated by some ungrateful managers or found any manager who hire lots of foreigners, please contact TAEFEP as below.
TAFEP's contact
Phone: 68380969

Saturday, October 22, 2011

An economist looking on fall of Gaddafi

Libya is hardly such a poor country that is able to forment revolution. On the contrary, she is extremely rich. She has 47 billion barrels of oil reserve, the 9th largest in the world. Her oil production is 1.8 million barrels a day. And just 6 million population sits on top of these treasure trove. In comparison, China has merely 20 billion barrel of oil reserve to be shared by 1.3 billion people.

Libya's GDP per capita of US$11,000 is even higher than Malaysia. Looking at these numbers, I think Malaysia should get revolution before Libya. Gaddafi is no doubt scumbag, but there are many other tyrant who murdered as well, but are still well revered by its citizens till date. For example, Chiang Ching Kuo of Taiwan killed a lot of innocent in the earlier stage, but Taiwanese still love him.

The keys to Gaddafi's disgrace are meritocracy and FT policy

Libya is as meritocracy as Singapore
Retuers reported in 2009 Libya's unemployment rate is 20.74 percent according to the government's latest census figures. One would have expect she was suffering economic crisis. Far from it, Libya was then enjoying one of the longest period of economic boom due to high oil price. There are more than enough jobs for people, in fact Libya job market is so tight that she is supposed to have much better than ZERO unemployment.

Fortunately, Gaddafi was as clever as PAP and he was also just as meritocratic. He import lots of FT. According to Al Jazeera, there are 2.5 million migrant workers before the uprising. Libya's citizen is only 4.5 million.

Keeping 20% of citizen jobless and import lots of slave workers, the rich cheers. The country is ultra competitive. Meanwhile, the FT came and laughed at those daft, lazy and stupid citizens. Even if the citizen wanted to accept same wages as FT, the discriminatory employment practices would have prevented it.

If Libya has had 100% employment, the revolution will not happen, even if Gaddafi occasionally murdered one or two people a year.

Social control tools
Unemployment and poverty are used as a tool for social control. I think both Gaddafi and PAP feel that it is bad when citizens are living too comfortably. In Singapore, the government tries very hard to give citizen poverty even for the employed and at the same time maintain an illusion of paper wealth, by means of property. For any increase in salary, property will hike much more, vacuuming whatever the citizen have.

Revolution incubates slowly without any outward sign. When it blows up, the leaders will be caught off guard
Libya is a backwater of Arabic affairs. Everything was peaceful until around February 2011, situation quickly degenerated. And by the time Gaddafi tried preempting it by promises of economic development, it was already too late.

Causes of revolution
The whore western press present a bias report that Gaddafi's downfall is due to tyranny. Chiang Ching Kuo of Taiwan may be a mass murderer initially, but citizens quickly forget all his sins after he has taken care of them. The truth must be kept secret. The elites getting richer through exploitation of labor and impoverish of citizens are main causes. In short, a revolution can still take place due to inequality, never mind how rich the country is.

PAP you be careful 

Friday, October 21, 2011

James Goldsmith vs Laura Tyson 1994

Look at how Laura Tyson, one of the most prominent economist in the world lied blatantly. Laura Tyson was the director of the powerful NEC of the Clinton administration, former Dean of Haas School of Business.

She is extremely powerful but looking at her career, she seems to do nothing except fraud and hypocrisy. With such people wielding powerful position, the whole world suffers.

James Goldsmith is an extremely wealthy financier from an old banking family. He is one of the insider and perpetrator for breaking up the western society, and advancing the odious financial capitalism of today. His views give us invaluable insights on the elites' mentality. Many problems we are facing are already well-conceived.

Thursday, October 20, 2011

The lies of PAP's foreign talent marketing 12: The thugs of NUS/NTU Part 3

Demographics of NUS Chinese Department PHD Students

Out of 43 PHD students there in NUS Chinese Dept, there are only O-N-E Singaporean or 2.3% Singaporean. [See this] for further details of their nationality.

Demographics of Harvard Department East Asian Language and Civilization PHD Students
53% are NON East Asian. [see this]

Harvard and NUS, a comparison
Harvard does not buy the meritocracy lies. Harvard can import 100% PHD students from China, Japan and Korea. They are sure to find 100 times better candidate than white or black students whose language ability is not better than a high school students in East Asia.

A school must serve the citizens first, not foreigners
University must take a balance approach on their admission. A university cannot exist without the contributions from the people. Even for private institution such as Harvard, it benefits from the public service such as fireman, police, roads and telecommunication infra-structure. Most importantly, Harvard is there because of the hardworking USA citizen which enables the material prosperity to build such a wonderful university and the soldiers who protect it from enemies. Try build Harvard in Afghanistan!

Harvard's balance approach in admitting top foreigners from East Asia as well as providing the elite education to their own non-east Asian citizen, never mind how unqualified they are--is laudable. Harvard is a private university that can do whatever it likes. In contrast, NUS and NTU are two ultra-wicked organization that import whatever foreigners in discrimination of Singaporeans, not withstanding they are a public institution. NUS and NTU are fully funded by us.

Subscribing to meritocracy, we need to consider scenarios where it breaks down. A parable
When someone got impotent because of prostrate cancer,  would he rather pop Viagra to screw his own wife or practice meritocracy let a porn star screw on behalf of him?

Harvard can get white man to study PHD in Chinese but NUS "cannot" find Chinese Singaporeans PHD students for its Chinese program.

Wednesday, October 19, 2011

The lies of PAP's foreign talent marketing 11: The thugs of NUS/NTU Part 2

Ostensibly only ONE Singaporean PHD student in NUS Economics
NUS Economics PHD students. Out of 36 students, ostensibly only ONE Singaporean. Or only 2.8% Singaporean. We pay for FT PHD so that they come and screw our sons in job market. PAP tries very hard to deprive Singaporeans to get post-graduate degree. [links]

Under the guidance of Kuan-Yew-ism
Kuan Yew stated that "If Singapore depends on the talent it can produce out of 3 million people, it's not going to punch above its weight. It's because we have been drawing talent from across the globe......".

Today, the world stands at around 7 billion people. Assuming that PAP wants to imported 0.1%, it will well be 7 million. Singaporeans can forget about having a decent education. Our post-graduate degree program will be forever flooded with foreigners.

"Singaporeans First" is equal to ZERO Singaporean 
Dr Tony Tan was quoted to be saying that he believes in a higher education policy that puts Singaporeans first. The former Deputy Prime Minister cited how citizens have priority entrance to primary and secondary school, and have access to subsidies and scholarships for higher education here or abroad.

Lee Hsien Loong also say he put Singaporeans first. Loong also said the government plans to cap the number of foreign university students while adding 17 percent more Singaporeans by 2015.
All these years, so many PAPies tell us that they put Singaporeans first. I wonder they had failed English in schools. 

Singaporeans who can afford to go overseas prosper
Many Singaporeans have friends or relative who failed miserably in our school system, either dropping out or ending up in NT. It is not uncommon for them to get first class honor or double degree if their parents manage to send them overseas. Many Singaporean who ended up in medical or law schools overseas do not even qualify to enter JC.

Many of these ex-losers are now extremely successful. Many of these students got advance degree or even PHDs because their host countries do not discriminate them unlike their own country--Singapore.

Scumbag NUS/NTU forever "cannot" find Singaporeans PHD students

To Be Continued

Tuesday, October 18, 2011

The lies of PAP's foreign talent marketing 10: The thugs of NUS/NTU Part 1

I would like to thank the anonymous person who posted my blog regarding the discriminatory admission of NUS Yong Siew Toh Conservatory onto a public forum. Instead of doing some soul searching, these are some of the responses from the pro-PAP camp.

You think kiasu singaporeans will take music as a degree meh? lucky got foreigners if not the conservatory sure close down.

Our parents make us take up art and music when we are kids but how many of us pursue this through to adult-hood?......
The YST Conservatory had little domestic support, and in order to survive it had to do the unenviable: remove any quotas for foreign students, and even attract them with overly-generous scholarships.

I also think so... thats one degree that is mostly shunned by sinkies

YST shunned by Singaporean young people?
For the class of 2010, YST Conservatory took in merely 3 Singaporeans out of a total of 32. In another words, more than 90% of YST class 2010 are foreigners. There are around 40,000 Singaporean born in a particular year. I cannot see the reason why YST Conservatory was only able to find merely 3 students out of 40,000 Singaporeans. There is no evidence to support that ONLY 3 people of that age group are interested in music, but on the contrary.

Spending more than 10 years learning piano, I have seen many students of my teacher pursuing degree in music at the overseas conservatories.

I do not see the reason YST "cannot" find at least 10 out of 40,000 who are talented and willing to enter a FREE of charge conservatory.

NS ruining musicians. PAP persecuting young man
While foreigners get everything free from YST, aspiring male Singaporean musicians have to go through 2 years of NS. The 2 years break from music would doom any great talented musicians. Even if defer of NS is granted, no musician can achieve anything great if they lost 2 precious years as a young man.

Singaporean young man make all the sacrifices to get themselves screwed and to make them unpalatable in many institutions, chief among them is YST.

YST is extremely expensive to run

A total of 50 faculties versus 32 graduating students of class 2010.
YST has the smallest student-professor ratio in SG funded by SUCKER Singaporeans
The concert hall costs lots of monies to build and maintain. Most if not all students are on 100% scholarship. Students fly in and out to play with major orchestras or to work with renown composers. The professors are not cheap. YST has 50 faculties and in 2010, there are 32 graduating students. YST has the lowest students to teacher ratio not seen anywhere in Singapore. Unfortunately, all these goodies are for foreigners and Singaporeans are only there to foot the bills.

Most if not 100% of FT graduate will leave Singapore. PAP gives welfare to foreigners, then tell our citizen welfare is bad. All musicians want to join the best orchestras, or to get immerse in musical environment. Vienna or New York are happening places. You can only find liar PAP, greedy landlords, bullying bosses in Singapore. Who will want to stay here if given a choice? It is likely we will get nothing back from FT alumni.

We should shut down YST and many NUS/NTU research labs
Given YST pervert behavior, I believe we should fire the professor there and make them jobless. For those public institutes that want to destroy young Singaporeans, we must shut them down immediately.

Alternatively, since YST is able only to find 3 Singaporeans, we should downsize YST to just 3 students. But shutting down YST and sending those 3 students overseas is better in my opinion.

Singaporeans are slaves
Foreigners are treating like emperors in SG, living in the most socialist system in the world. After giving all monies to foreigners, PAP uses hospitalization, properties to bankrupt Singaporeans and tell us we deserve it, and welfare creates clutch mentality. We are here only to pay all the bills for foreigners.

Unless YST Conservatory changes. The day Yong Siew Toh Conservatory closes shop, is the day of celebration. Sorry Ms Yong, your family has donated to the wrong place, and that has sullied your name. 

Monday, October 17, 2011

The lies of PAP's foreign talent marketing 9: Do FT stay and take our job or leave after we play stepping stone?

The story of NUS Pharmacy PHD
Although NUS Pharmacy PHD admission is highly discriminating against Singaporeans, it is like a angel compared to other odious faculties. From 2006-2010, there are 26 Singaporeans PHD graduating, or 28% (see the attachment at the very bottom).

Singaporeans must indeed be "thankful" to the scumbag NUS Department of Pharmacy for their "kindness, mercy and generosity". NUS Pharma still takes in "much more Singaporeans" compared to labs of NTU EEE [see this] or NUS YST conservatory[see this].

Admitting fewer and fewer Singaporeans
However, there are signs the NUS Pharma find it increasing "hard to find Singaporeans talents". On the year 2007, there are 6 Singaporeans PHD out of total of 15. In another words, around 40% of PHD that year are Singaporeans.

On 2011, there are only 2 Singaporeans PHD out of a total of 10. The percentage of Singaporeans reduces to 20%. Is Singaporeans becoming increasing stupid that lessor and lessor qualified? On the contrary, I believe NUS Pharma has over the years becoming more and more racist targeting to screw Singaporeans.

Foreigners use Singapore as stepping stone to western countries (before the economic crisis)
For the class of 2007, before the economic crisis, 7 out of 9 foreign PHD are working overseas mainly in USA. According to the website of Department of Pharma, only research PHD is offered. That is to say, Singaporeans play suckers again funding foreigners 100% fees and all other expenditure.

Foreigners stay put and compete for jobs (during the economics crisis)
For the class of 2011, only 2 out of 10 foreign PHD went overseas, due to crisis in western countries. On the first day US recovers, I am sure 100% foreigners will fly out with a one way ticket.

Singapore has become a safe haven for foreigners during crisis when they stay put to compete jobs with locals. Then when times are good, foreigners left often leaving contempt and derision towards the most foolish PAP who freely funded their studies.

CNA reported Kuan Yew making the following remarks.
Would you want them to compete against you or with you as part of the team? If you don't have them with you as part of your team, they will be on the Chinese and Indian team."

Some of these migrant students, he acknowledged, use Singapore as a stepping stone to other countries. So "why are we so stupid" in allowing this?

"Because more than half (of these students) do not make the grade to go to America, and the second tier is not bad for us."

The fact is, even if Singapore tries very hard to make foreigners our team by investing and funding them beyond the most generous father and mother, they will be joining our competitor upon any chance arises. Singaporeans have been playing suckers and depriving our own son the chance of education. Kuan Yew is crazy.

Foreigners often express contempt for Singapore system. Despite giving foreigners exorbitant advantages against locals, the discrimination of Singaporeans by PAP is very often a significant reason that foreigners have low regards on the PAP government.

People respect those who take care of their own family members.

Sunday, October 16, 2011

The lies of PAP's foreign talent marketing 8: Discrimination of Singaporeans Part 2

Singapore Tax payers playing suckers

90.6% of 2010 Bachelor Degree graduating class of NUS Yong Siew Toh Conservatory are foreigners [link]
Kuan Yew's crazy ideology 
In Singapore, many institutions are created just to serve the foreigners fully funded by our tax payer. Lee Kuan Yew seems to be the patron behind all these nonsense. He has made remarks as below.

Some of these migrant students, he acknowledged, use Singapore as a stepping stone to other countries. So "why are we so stupid" in allowing this?

"Because more than half (of these students) do not make the grade to go to America, and the second tier is not bad for us."

A parable
Would you spend monies on your neighbor's son instead of your own son? Would you give free education to your neighbor's son when he is going seek greener pastoral after graduation. Your son is to be crowded out of resources. Your own son is going to stay here, facing a broken treasury due to the subsidy given to neighbor's son.

20% quota to protect foreigners, NO quota for "daft" Singaporeans
In Singapore, foreigners are given privileged access to our university on a 20% quota. The actual proportion of foreigners are much higher from observations. Beneath the surface, the system is even more secretly rigged to discriminate locals.

In many post graduate research institute or certain schools in our local university, there are ZERO or very little Singaporeans. Among them, the NUS Yong Siew Toh Conservatory stands out to be the most outrageous. While many of those discriminatory practices long existed in post-graduate institution, Yong Siew Toh Conservatory is an under-graduate institution. Its 2010 class sees less than 10% of Singaporean.

Building a conservatory for foreigners, "stupid" Singaporeans denied admission
NUS Yong Siew Toh Conservatory is probably the only public university's constituent school of in the whole world that give more than 90% of its placement to foreigners.

I would even bet the most if not all foreign students of the conservatory are offered 100% scholarships and most will leave Singapore after graduation. On top of the insult, Singaporeans pay huge salary for the professors, foot the bill of the expensive teaching concert hall as well as those exorbitant Steinways.

Dumping ground for Singaporeans, prestigious degrees for foreigners
Singapore universities use the follow strategies to give foreigners an advantage over locals at the same time maintaining a good PR publicity, giving a wrong impression that foreigners are kept around 20%. Singaporeans are admitted in large numbers to university dumping grounds, foreigners are given far more placement in many of the prestigious degrees, giving them more advantage to compete against locals. (Probably medicine and law faculties are the two exceptions at the time being)

Hence, Singaporean may seem to be representing a larger student cohort, in reality, the foreigners receive an even larger individual support from our government. Their better degrees often in the form of post-graduate degree give them massive advantages in job market.

Then PAP will loudly announced there are more Singaporeans than foreigners in local universities and PAP take care of "Singaporean first"!

Insults after insults
To justify its discriminatory practices, the usual abuses and derision would be expected from PAP or bosses of universities if they are queried. The old folk stories are as below. Singaporeans are
  • Lazy
  • Stupid (daft)
  • Soft
  • not enough talent
  • spoiled
  • Singaporean are "not interested" in music
  • Goldman Sachs gotten all local talents so we must import FT
....etc ad nauseum

Singaporeans are the most xenophobic in the world? 

To Be Continued

Saturday, October 15, 2011

The lies of PAP's foreign talent marketing 7: Discrimination of Singaporeans Part 1

ZERO Singaporeans in higher learnings

 ZERO Singaporean PHD student in NTU EEE Infinitus lab. Singaporean must be the most stupid in the world.
The above diagram from Infinitus lab in NTU School of Electrical and Electronics Engineering website profiles its PHD candidate. The number of Singaporean ostensibly is Z-E-R-O. Such situation is endemic not only in engineering, the NTU Business school has similar student profile although it nevertheless has a few Singaporean here and there. The websites regarding PHD students in various schools are as below.
NTU EEE research centers
NTU Business School PHD student profile.

The lack of Singaporean doing the post-graduate degree plagues NUS, NTU. (Probably someone can give information about SMU).

The rampant discrimination against Singaporeans 
PAP seems to adopt a policies trying to condemn aboriginal Singaporean not experienced even for Dalits of India. Lee Weiling daughter of LKY wrote that "At my hospital, the National Neuroscience Institute, we have a disproportionate percentage of doctors who are Indians - 27 per cent" . Although it is not clear if all of the Indians are FT, but there is high possibilities that most of them are.

In some of my previous blogs, I gave evidence that PAP is taking more FT doctors that locals for many years. [see this] [see this]. On 2010, 331 Singaporeans received full and conditional medical registration (aka registering to be a doctor in layman) and for foreigner, the number is a whopping 484. See the diagram below.

Source: Singapore Medical Council
Among the Singaporean doctors, many if not most got their degree overseas. For every medical student in NUS, I estimate there are at least three more person having the same result but is not admitted because PAP control medical school intake.

The doctor population is kept low. FT doctors profited from PAP artificial scarcity creation. Singaporeans are screwed. Many FT doctor may not be as smart as the local cannot-make-it-to-medical-school-losers. The FT doctor prosper here because of nefarious PAP policies which I will further explain.

To Be Continued

Friday, October 14, 2011

The lies of PAP's foreign talent marketing 6: FT policy destroys productivity Part 2

How middle to low skill FT undermine productivity 
The basis of social advancement is the accumulation of capital in training the employees. Such a concept would be incomprehensible to Singaporean bosses. Why bothered to train if one can hired freely from the third world.

In Singapore, the local fresh graduate are often denied a job, while watching FT fully employed. Meanwhile PAP buy the shop owners fairly tale that they cannot find "talent" in Singapore. The truth is FT that came often have 2-3 years of relevant working experience that give them a edge over the Singaporeans in job market. Very often, Singaporeans is smarter and FT less so, but PAP policies effectively discriminates Singaporeans.

Competition bring forth by FT workers undermined the development of skills. If a hardworking man know that no matter how much he work, his salary will be depressed, he will have no incentive to upgrade his skill. He will be lazy.

FT also inhibited the development of industry and technology. The modern capitalist invests a large part of his profit for improving technology in order to get an advantage over his competitors. In Singapore, company will have less incentive to go into technology. Why bother if cheap labor is readily available.

The western countries invented computers and robotic and other machine precisely because labor wages are relatively high there. And why bothered to pay into R&D if the boss could freely hire a human calculator or workers.

A new contradiction arose out of the constant demand for more FTs to make up the shortfall, as now Singaporeans and FT do not reproduce in sufficient numbers, due to excessive cost of living. A constant renewal of immigration are constantly needed to replenish the our working force, further reducing productivity in the long run.

All FT including those higher skilled give a productivity problem
Companies reside in Singapore even for MNC are famous for office politics that greatly reduces efficiency and increase cost. Most managers are by nature aggressive person that need to be contain by a good system.

Manager would be more difficult to bully and to pit one against another, if there are shortages of workers. In this scenario, an aggrieved worker would be resign and landed into another job immediately. The manager will have difficulties in finding suitable replacement due to tightness of job market. The wicked manager is then left to salvage the mess he created. The manager will need to improve himself else he will be fired.

By importing lots of FT creating unemployment, workers are cowed today compared to many years ago. (Just ask anyone working in MNC during the 70s and 80s or even civil service). Today when a manager fire someone, he can get replacement all over the world. Once fired, the worker may end up perpetually jobless or suffering massive pay cut. Hence managers are increasingly tyrannical and unreasonable.

PAP always dream that pliant work force improves efficiency. PAP is also inherently a reactionary party aiming to protect the system of top-down management, a paternalistic system with a divisive citizen. Due to PAP's deviant and selfish FT policy, we see more and more fightings and civil wars in corporate world than before.

Empowering workers will help companies to improve their management system. 
PAP market that FT are needed because there are shortages of workers. In fact, shortages of workers are extremely desirable for all economy.

Singaporeans like to work in western MNC, due to less politics, better fringe benefits and more empowerment. This is not possible without the active unions and contained management in their home country, which spills the benefits to the oversea subsidiaries. We are being brainwash by PAP thinking that their striking trade union is the bad guy. In fact, active trade unions, NGOs in western countries are instrumental in making the MNC who they are.

And besides union, worker can be even better empowered by creating shortages in workforce.

Even though higher skilled workers does bring some benefit and they bring also serious side effect. I will further blog on this topic will be in the next series. The REAL talent is good for us, unfortunately, we imported none.  

Ho was detained under the Internal Security Act and  put into solitary confinement for two months. 
He has lost much guts and idealism and turned hypocrite. His words are still tolerable compared 
to many bullshit from the mouth of PAP MP. 

In an article dated 2th March 2010, Singapore tycoon Ho Kwon Ping  states, "We complain about the quality of service in our restaurants and retail stores. This is partly because shops prefer to hire lower-cost Chinese workers rather than invest in training more expensive (and choosy) Singaporeans. A quality service culture therefore does not exist in Singapore because of the vicious circle where relatively cheap foreign labour displaces the need to train and attract Singaporeans. In the end, because of our addiction to low-cost foreign labour, overall productivity growth is Iow......"

Later in an article during 18 August 2011, Ho again pointed out that in Australia, a builder gets a salary several times the salary of a construction worker in Singapore, although both countries have about the same per capita income.

"We've had construction development experience in Australia, New Zealand, Thailand and so on. When we built our hotel in New Zealand we were shocked because the number of workers we engaged there was about 10 percent of what we would get in Thailand -- because they are well trained," he said. (PAP always accuse westerner of being lazy and relying on welfare, why are they better?)

"We haven't bitten the bullet here. We are still addicted to cheap foreign labour in industries like construction,"

"Our low-skilled workers are at a disadvantage today because salaries are quite low with the influx of foreign workers, so I think we need to ratchet that up a bit," he added. 

Thursday, October 13, 2011

Buffet federal income tax is just 11%

Forbes reported Warren Buffett has now released a few more details about his 2010 tax bill which show he paid just 11.06% of his adjusted gross income in federal income taxes last year—considerably less than the rate for the 400 highest income taxpayers, or for folks earning $100,000 to $200,000 a year.
the billionaire had adjusted gross income in 2010 of $62,855,038, taxable income of $39,814,784, and a federal income tax bill of$6,923,494. That makes his effective tax rate, as a percentage of AGI, just 11.06%......

Most MSM tries to mis-inform by stating "Buffet was taxed on 17.4% of his TAXABLE income". One of Mr Buffett's gripes is that many of his employees pay a tax rate in the 30 per cent range as opposed to the teens like he does.

If the rich open their tax bill, most will shows a lower than the poor.
CBS reported  "What would be useful would be to get more of the ultra rich to publish their returns," Buffett wrote. "If you could get other ultra rich Americans to publish their returns along with mine, that would be very useful to the tax dialogue and intelligent reform. I stand ready and willing -- indeed eager -- to participate in this exercise."
"If you can get any of the ultra rich to relase their returns simultaneously with mine, I will be willing to have a pre-release wager with anyone who wishes for any sum that they wish that the figures in my return will be exactly" what he stated, Buffett wrote.

Singapore's elites should open their income tax statement
Capital gain and dividends are still taxed in USA, Singapore has did away with it. Hence, SG ultra-rich would probably be taxed close to 0%.

While PAP blames the people for their failure and claim that the rich helps create wealth, the average Joe here in fact shoulder more tax in proportion (40%) than any place in the world. [see this]

Wednesday, October 12, 2011

Foreign ownership of landed property expected to go down

According to CNA, "Foreign ownership of landed property expected to go down".
Law Minister K Shanmugam said he expects the approval rate of foreigners owning landed property to reduce by more than half, since amendments were made to the Residential Property Act.

The changes, which kicked in in January this year, impose tighter restrictions on foreign ownership of landed property.

Those who renounce their citizenship or Permanent Residency are to sell their restricted residential properties in two years.

Mr Shanmugam said the current rate of foreigners owning landed property hovers around 3.5 per cent.

Total silence of MSM regarding such overt central plan control
Clowns like Mah Bow Tan likes to use demand and supply economics theory to justified property hike. But they are not so stupid to believe in their own lies. They would rather have landed property priced lower so that their children can afford a lawn and a dog kernel.

The restriction places a limit on demand, keeping landed property price much lower than their potential value, effectively subsidizing our elites. So instead, our elites are enjoying the socialist policy.

Elites unable to compete
Shanmugam further stated, "After the further tightening up, I suspect we are looking at very few people who would qualify......"

There are already massive barriers against foreigners resulting to merely 3.5% of landed property ownership. Feeling the heat recently, PAP wanted to place more restriction, never mind PAP's perpetual mantra that one has to "work harder, be a talent" to earn more monies in order to enjoy the material comfort.

The people compete with everyone in the world for a shoebox
The average Singaporeans have to compete with the all foreign talents. When property drops, PAP will invite more FT.

We should restrict foreigners in owning any property
I support to restrict foreigners in owning any property because there is no reason protection goes to elites and not to people. The PAP's policy of capitalism towards the people and socialism on elites must stop.

Further reading:
Inverse Robin Hood 2

Tuesday, October 11, 2011

Tharman's good employment numbers

Tharman paint rosy picture about our employment status
From 2001 to 2010, the median monthly income grew 11 per cent in real terms, or 29 per cent in nominal terms.
There were 1,712,600 Singapore citizens in the labour force in June 2010, making up the majority or 58.3 per cent of the labour force.
In addition, Singapore has one of the highest employment rates internationally - with nearly eight in ten Singaporeans (aged 25 to 64) employed in 2010.

After looking at the numbers in MOM website, I conclude that Tharman did a good job in painting these numbers. It is quite difficult to critic without raw data although I am quite suspicious about many of the details.

The data of unemployment from MOM is different from World Bank


World Bank's data on Singapore's unemployment

The above is the unemployment data of Singapore from World Bank website which is higher than MOM's data. And many years during last decade, Singapore's unemployment rate is above 5%. And we can expected most of the numbers come from the citizen.

Monday, October 10, 2011

UN says food price hike coming?

Volatility as a euphemism for food price hike?
Reuters reported, food prices are likely to become more volatile in coming years, increasing the risk that more poor people in import-dependent countries will go hungry, the United Nations said in an annual report on food insecurity published on Monday.

Global food price indices hit record highs in February and were a factor in the Arab Spring of unrest in north Africa and the Middle East.

Prices have since eased but the U.N. report said economic uncertainty, low cereal reserves, closer links between energy and agriculture markets and rising risks of weather shocks were likely to cause more dramatic price swings in the future.

"Food price volatility featuring high prices is likely to continue and possibly increase," the Food and Agriculture Organisation, the World Food Programme and the International Fund for Agricultural Development said in the joint report.

Blaming "Demand and Supply" for the problem
"Demand from consumers in rapidly growing economies will increase, population continues to grow, and further growth in biofuels (displacing food crops) will place additional demands on the food system."

We recall the oil price hiked from below US$40 in 2005 to a peak of US$148 in 2008 without much dramatic increase in demand. Later, evidences have shown that speculators especially banks like Goldman Sachs and hedge funds were responsible.

The underlying problem is deeper, the demand and supply theory of capitalism economy often does not capture the full picture.

The rich are playing fire
Ideally, the people need to have certain amount of surplus income to buffer against shock. It seems that when food spending is above 30% of family income, there will be a high chance that people may overthrow the government, or even the whole elite class. Nevertheless, elites will never stop plundering the people. When they realize that they are overdoing it, its often too late.

Sunday, October 9, 2011

Supply of maid drying up: Our "well educated" Singapore gal will take their place?

Recently I have written about Maid is going to be increasingly unaffordable. The truth turns out to be ten times worse, in future not a single maid may want to set foot here.

According to AsiaOne, the new generation of Indonesian and Filipina maids, who are better educated and have a higher expectation of life, prefer to work in Hong Kong and Taiwan as their take-home pay is much higher due to minimal tax.

The era of cheap maids streaming into Singapore to find work, particularly from Indonesia and the Philippines, may be coming to an end.

Many maids have become salesgirls, hairdressers, office assistants, etc, thrown up by an expanding middle class.

More are seeking training to move into higher-paying jobs in healthcare, computers and tourism.

In Singapore, many employers have not realised the extent of some of these changes in the region.

The older ones still see the maid as an unchanging person left behind by progress, an agency representative said.

"They don't realise there is a big difference between the young maids who come to our shores today and those who arrived a generation earlier," she added.

It is not unlike the gap between two generations of Singaporeans, she said.

Today's maid from the Philippines or Indonesia is no longer the same as older ones who came in the 70s or 80s.

She is generally better schooled, has higher ambitions and is probably less deferential to orders rudely given.

A Jakarta official reportedly indicated that his government may be considering cutting off supply to Singapore - until it agrees on the minimum pay of S$450 a month.

More bad news for us, HK is going to give maid PR

HK high court handed a landmark victory to foreign maids which will enable them to apply for PR. The government vows to appeal the decision and hence, the final outcome remains unclear. This ruling shows that HK judiciary remains somewhat independent and HK Basic Law (aka constitution) is still being respected.

"We don't want (the maids) to come to Hong Kong permanently, they will take away our social benefits", said one of the protesters against the ruling.

With such ruling, HK is going to be top destination for maid.

Without maid our fertility rate is going to get worse. Nevertheless PAP's solution is aiming for ZERO fertility and 100% population replacement by FT

Not many knew the contribution of maid in bailing out of our fertility. Singaporean women have long been poisoned by MOE into perversion. Given a choice, they will not help babies or sick old grandmother in bathing or shitting, believing that they are too educated to do such things. 

FT keep coming in, our caretaker drying up
CNA reported recently Mr Lee said for the time being the government has to go slow on (FT ponzi) this, because Singaporeans don't want to find strange faces around them.

But he feels the situation may change when Singaporeans grow older and need people to look after them, like nurses, and that's when views of admitting foreigners would change. 

These days, LKY is still fear-mongering about aging society duping Singaporeans to accept more FT and the corresponding social ills including more unemployment, more depressed wages, more crowded spaces....etc. Not withstanding that 99% of these FT come only to injure Singaporean, and contributing nothing in helping the old.

Ironically, the REAL caretaker of our babies and old folks -- our maid is not going to be around in the very near future. Very soon, they will be gone or we need to pay them higher.

More and more Singaporeans are going see LKY as a wicked liar.

If someone ask me for a grading on PAP. I would say PAP did 90% wrong over its 53 years in power.

Saturday, October 8, 2011

The lies of PAP's foreign talent marketing 5: FT policy destroys productivity Part 1

We are now the smartest in the world
Nearly two decades of FT policies gives me the impression that we have imported every, if not most talent in the world. Singapore is presumably full of Nobel Prize laureate, Field Medalist....etc Who knows, maybe even Superman and Transformers are already PR.

We are suppose to be surrounded by the smartest people. Our workers are suppose to work produce two or 3 times the amount of output, with less than half the time compared to the others.

Unfortunately, things seems to be the opposite.

Singaporeans work one of the longest in the world
According to St Louis FED, Singaporean worked an average of  2409 hours per year and French merely 1439 hours. That translate to an mean 46.3 hours and 27.7 hours per week for Singaporean and French respectively.

Singapore's nominal GDP per capita
According to IMF, Singapore nominal GDP per capita is USD$43,117 while France is US$40,704.

Frenchman produces 58% more than us in an hour
Base on number of average annual work per employee and GDP per capita, a Singaporen produces US$17.90 while a French produces US$28.30.

Singaporeans are the most intelligent in the world. PAP is the one digging a big hole for us
According to IQ expert Richard Lynn, and his book titled IQ and the Wealth of Nations, Singaporean are the smartest people in the whole universe. Singaporean has an average IQ of 108 and French 98. Putting a IQ 108 working side by side with a IQ 98 laggard, chances are the person with higher IQ will produce more thing in the same amount of time.

Instead, the French win us by a large margin. After all these fanatic FT polices, Singaporeans seem to degenerate despite working harder and harder. The lazy French works 27 hours a week or 5.5 hours a day. The lazy Frenchman could not be bothered about anything except making love for the whole day, and giving 50% of illegitimate babies out of total birth. Yet, they are more efficient than us and despite of their laziness, they are having universal healthcare, instead of the hardworking Singaporean. Something must be wrong!

I will stop here for today and in the next posting of this series, I will explain further why such nonsense happens.

Friday, October 7, 2011

The warning

The inside story of CFTC Brooksley Born's failed effort in reining derivatives. The original page [here] provides better control to the video.

Watch the full episode. See more FRONTLINE.

Thursday, October 6, 2011

The lies of PAP's foreign talent marketing 4: The truth of aging society economics Part 2

In my previous blog, I wrote that in theory aging is not a great issue for Singapore but rather a big gold mine. Unfortunately, that gold mine has been cleanly emptied by PAP and you will soon know why after further reading the passage below.

In essence the old man savings are claim checks whereby some debtor will have to pay. Who is our debtor?

Most people have never connected the dots whenever they come across the headlines
  • USA is in debt which burden their future generation. 
  • Asians are savers and creditors of USA
What these sentences means is the future generation of USA will pay for the retirement of our old people when we show up at their doors with our dollar reserves. Being a world reserve currency, SGD is a derivative of USD. Hence, our savings are either back by USD, or assets of GIC.

I am going to bet USA is going to default either by inflation or by haircuts to their debt instruments. The next portion of savings comprises of assets hold by GIC, but we knew that its value is going to zero, thanks to those idiots fund managers there who draw high salary. 

Beside savings in cash or CPF, how about the old man's property? Its back by ponzi and it will go down the same way as Bernie Madoff
Our property are back on top on rents extracted from the offspring. In fact the higher the yield of property, the greater the vampire the old become. PAP's asset ponzi has in fact shifted power to the unproductive old against the productive young man.

For every holiday in Caribbean or the young Thai wife the old retiree relishes by unlocking his property, his grandson has to labor 30 years to fully pay back the mortgages.

It become increasing clear that the young Singaporeans are unable to cope with such ponzi by showing dismal fertility rate. Hence the FT comes into picture to hike up our property. It is not difficult to see how much more FT can the little red dot still accommodates.

The Singaporean old is still a goldmine now until the music stops. 
Historically, the unproductive old survives by creaming off surplus from productive young people (their counterparties), through holding titles of capitals. Very soon, our old faces the problem of counterparties default (USA) or ponzi blow up (FT policy running into walls)

Those who cash out early count themselves lucky.

PAP's crazy suicide economics policy and plundering of our savings is the problem
First, we have too many dollar reserves, and once QE started our savings will be vaporize. Even without QE, the worthless GIC once headed by President Tony Tan is going lost all our monies by trying to be talent in stock market casino.

The pillar of our retirement is CPF and property. The former is viable if USD is sound, the later hinges on FT ponzi. 

Wednesday, October 5, 2011

The lies of PAP's foreign talent marketing 3: The truth of aging society economics Part 1

Janadas Devan of IPS,
son of late President.

Spreading fear that old man need people to look after 
Recently, we have been receiving frequently bombardment of sinking into the despair aging society that only FT can bail us out. Old man are being described as some burden that requires the support from working adult.

Janadas Devan of IPS said that "you are going to see support ratio and percentage of your working population decline".

My grandfather need my support?
But I really found it quite puzzling. I live with my grandfather who is 100x richer than me. He funded my university, gave me a Porsche the day I got my driving license and a condominium. Instead of me supporting the old, I think is the other way round as my grandfather is giving me S$10,000 every month. (fiction)

Aging society is a problem especially in Europe largely due to its pension system
In Europe, due to the pay as you go pension system, aging society would contributes to financial trouble. The old Europeans need wealth transfer from the productive young to survive. In Europe, the old has little savings.

Singapore's old people is a gold mine
Are you being supported by young people or 
are yousubsidizing your children

As long as the old are able to support themselves, they behave like a gold mine. Due to the CPF system, and high saving rates, "in theory" the more people ages the better in some cases.

Instead of transferring wealth from the workers to the old, the reverse happen. The old would start spending on health care, leisure...etc all out of their own pockets creating plenty of jobs for the young people.

Best scenario is the old found themselves so much monies that they actually transfer their wealth to the young as gift, just like my grandfather did to me. Even some of the poor old Singaporeans did not burden anybody. They work hard no matter how miserable the wages. Others indeed rely on their offsprings or society for support.

In the next decades, all Singaporeans are expected to retire with either CPF or housing assets. So, we should not have a serious aging issue. In practice, we have a problem. (will discuss in part 2, you guess who sabotage us)

In many countries, retirement is a big business
Countries like Thailand are destinations for retirees from Japan and western countries. The more old men coming to Thailand, the better for them. The old retirees stimulate consumption and create jobs. Many old men took young Thai wives and when they died, huge amount of wealth are transferred to their Thai wives.

Kuan Yew stated that "there would not be enough people to look after the old and work the economy at the same time". In theory, 100% of the productive adult in a country can work just to take care of the rich retirees and do nothing else. It itself is a lucrative business.

So is aging society good or bad?
Aging society economics is paradoxical. In addition the elites do not want you to understand the subjects. Part 2 will further explain.