How HDB keeps it affordable

ST Letter by Ignatius Lourdesamy, 31 Aug 2009

WE REFER to the letters, ‘High HDB prices: Squeezed even harder’ and ‘Two shortcomings: Public housing too correlated to private market, and HDB has not regulated supply’ (both Aug 22); and ‘Flat hunting: Why was cash over valuation ever introduced?’ (Aug 20).

# Cash over valuation: Resale flat prices are the result of negotiations between willing buyers and sellers. Cash over valuation (COV) arises when buyers are willing to pay more than the market value of the flat, as determined by professional valuers.

[Read more...]

How HDB keeps it affordable

ST Letter by Chew Kim Cheer, 22 Aug 2009

THE HDB resale price index has surged relentlessly since 2007. Since the first quarter of 2007, the index has increased 35.3 per cent and is now at a record high, even though the economy is still recovering from downturn.

This is an anomaly the Government should examine.

[Read more...]

Kass: Market Has Likely Topped

By Doug Kass
RealMoney Silver Contributor
8/26/2009 8:41 AM EDT

URL: http://www.thestreet.com/p/rmoney/marketcommentary/10590587.html

This blog post originally appeared on RealMoney Silver on Aug. 26 at 8:11 a.m. EDT.

Back in early March, there were signs of a second derivative U.S. economic recovery, the PMI in China had recorded two consecutive months of advances, domestic retail sales had stabilized, housing affordability was hitting multi-decade highs (with the cost of home ownership vs. renting returning back to 2000 levels), valuations were stretched to the downside and sentiment was negative to the extreme. These factors were ignored, however, and the S&P 500 sank to below 700.

[Read more...]

Recognition for the way IMH handles its patients

Source: Straits Times, 26 Aug 2009

SEVERELY mentally disturbed patients at the Institute of Mental Health (IMH) now spend far less time strapped to their beds or in straitjackets.

They also spend less time – 21 days, down from the previous 27 – in the hospital’s eight-month-old high-dependency psychiatric care unit before being moved to the general wards.

The IMH’s approach in handling acutely disturbed patients bagged it the Most Outstanding Project prize in the Customer Service Project category of the recent Asian Hospital Management Awards held in Ho Chi Minh City, Vietnam.

[Read more...]

“Pledge ourselves as one united people”

Written by Ng E-Jay, for the Online Citizen
06 Aug 2009

Original TOC link

What does it mean to be “one united people”?

Does it mean forging a national identity that can be shared by all Singaporeans regardless of race, language or creed? Does it mean accepting and respecting all our differences, whether in terms of political affiliation or sexual orientation? I can certainly agree with this.

Or does it mean adopting an unquestioning attitude towards Government policies and social issues, and agreeing to make personal sacrifices whilst the PAP reaps the benefits, in the name of “staying together, moving ahead” (PAP’s 2006 GE slogan)?

[Read more...]

Level the playing field for locals and foreigners in employment

Source: The Online Citizen

Recommended Reads:

Singapore: A Model of Judgment for the United States? by Harvard Business Publishing.

Leong Sze Hian was invited by BlogTV to pen an article for them. We publish it below.

Before we talk about whether Singaporeans deserve to have more privileges than PRs and foreigners, perhaps we could first ask whether there may be any areas whereby foreigners or PRs have “more privileges” than Singaporeans?

Employers which employ foreigners, do not have to contribute CPF.  So, the employer saves up to 14.5 per cent of the salary.

[Read more...]

The Greenback Effect

Source: New York Times, 18 Aug 2009

By WARREN E. BUFFETT, Omaha

IN nature, every action has consequences, a phenomenon called the butterfly effect. These consequences, moreover, are not necessarily proportional. For example, doubling the carbon dioxide we belch into the atmosphere may far more than double the subsequent problems for society. Realizing this, the world properly worries about greenhouse emissions.

The butterfly effect reaches into the financial world as well. Here, the United States is spewing a potentially damaging substance into our economy — greenback emissions.

To be sure, we’ve been doing this for a reason I resoundingly applaud. Last fall, our financial system stood on the brink of a collapse that threatened a depression. The crisis required our government to display wisdom, courage and decisiveness. Fortunately, the Federal Reserve and key economic officials in both the Bush and Obama administrations responded more than ably to the need.

[Read more...]

Why the Singapore Democratic Party deserves our support

Written by Ng E-Jay
30 July 2009

The first SDP event I attended was the gathering at Hong Lim Park on 01 May 2007 welcoming Dr Chee Soon Juan and Ms Chee Siok Chin after they had completed a 2-day, 120km walk to mark Labour Day and to highlight the plight of Singaporean workers.

Looking at the exhausted but determined faces of Dr Chee and Ms Chee, and hearing the short but edifying address Dr Chee made left me with the impression that perhaps, unlike the terrible vibes that the party constantly receives from the mainstream media, the SDP was a party of substance, that perhaps it was a party with a message worth listening to.

I was not wrong.

[Read more...]

Grossly inadequate protection for credit card users

Written by Ng E-Jay
29 July 2009

If consumers have their credit cards stolen or used fraudulently, they may be liable for all transactions made even though they may have done nothing wrong.

This is yet another sorry example of how the Government proudly sells the image of Singapore as a world-class financial hub, yet fails to offer consumers even the most basic protection against theft and fraud.

[Read more...]

Is Singapore really in a better position to survive economically?

Written by Ng E-Jay
28 July 2009

The Straits Times Forum (online) letter penned by Mr Tay Xiong Sheng on why Singapore is in a better position to survive economically compared to Malaysia makes for an interesting, but lop-sided read.

In his letter published online on 28 July, Mr Tay argues that Singapore’s sovereignty was born out of principles and confidence, having refused to compromise on racial equality.

[Read more...]

Ignoring the spirit of the law: Woman fined $30 for eating sweet on MRT to relieve motion sickness

Written by Ng E-Jay
22 July 2009

A lady commuter was recently fined $30 for eating a sweet during an MRT train ride to relieve motion sickness (see embedded video below).

Eating and drinking in the MRT carries a maximum fine of $500. However in this case, common sense has been completely thrown out of the window in what is apparently a silly over-reaction by the authorities.

[Read more...]

STOP THE WAYANG, just return us our CPF!

Written by Ng E-Jay
22 July 2009

More twist and turns have appeared in the CPF Life scheme, an annuity scheme to be administered by the CPF Board that promises to give lifelong payouts to CPF members.

On Monday in Parliament, Manpower Minister Gan Kim Yong found himself clumsily trying to reassure Singaporeans that monthly payouts from the CPF Life scheme will continue as long as the CPF member is alive, despite a provision allowing the CPF Board to stop payments in the event that the Lifelong Income Fund becomes insolvent.

Madam Halimah, chairman of the Government Parliamentary Committee for Manpower, had earlier noted that she found this clause “quite disturbing“.

[Read more...]

To fight for bread and butter issues, we need democracy

Written by Ng E-Jay
20 July 2009

In the article From Stifled Dissent to Managed Dissent, I discussed how the “hard repressive” tactics of the PAP Government such as the use of ISA on political opponents was being slowly replaced by “soft authoritarian” strategies that give the people a semblance of political space but without actually returning them their constitutional rights.

Part of the strategy of “managed dissent” involves allowing citizens to express themselves freely on issues that do not threaten the ruling elite’s grip on power, such as bread and butter issues, but clamping down severely on activists and politicians who challenge the very basis of our political system and the undemocratic ways of the PAP. Think Dr Chee Soon Juan and the late J.B. Jeyaretnam.

[Read more...]

The Great Reflation Experiment

(Source)

By John Mauldin, 31 July 2009

The question we have been focused on for some time now is whether we end up with inflation, or deflation, and what that endgame looks like. It is one of the most important questions an investor must ask today, and getting the answer right is critical. This week, we have a guest writer who takes on the topic of the great experiment the Fed is now waging, which he calls The Great Reflation Experiment.

[Read more...]