Comments : Singapore Budget 2009

This has been late due to the Chinese new year and my interim preparations , so here are my short thoughts on the recent budget 2009 which was brought forward earlier in the financial year before companies close their books.

The MOF reeks of keynesian economists ,  believing that big short-term stimulus to break the economy out of a vicious downward spiral. Loss of Jobs -> cut in spending -> Further retrenchment due to recession.

What is different from our  US counterpart’s TARP (trouble asset relief program) is that fortunately our government is not funding budget by borrowing on future earnings, by not issuing bonds and flooding the market with extra bond paper  , thereby depressing bond prices and yield.

Banks should start to lend in order to stimulate the economy, since the government is has already made guarantees on all bank deposits as well as other fiscal measures.

No Personal income tax cut , but good also no CFP cut so it does not affect the long term burden on workers.

I read somewhere that the school of Keynesian economics grew from elitist perspectives on how government systems should be run by a few ‘good’ men in Cambridge.

The original perpertrator John Maynard Keynes believed that the government should dictate what you eat , how many babies you should have etc…

If I’ve the time , I’ll download ‘The General Theory of Employment, Interest and Money’ to my reader.

http://www.marxists.org/reference/subject/economics/keynes/general-theory/

O’ levels results

Results of the O levels are out today, I’m delighted that my alma mater is mentioned as a top school : Catholic High dominates O-level list . It produced almost half of Singapore’s top Secondary 4 Chinese students in the 2008 O-level exams. haha despite the fact that I was once a higher chinese student back then even though I CMI (cannot make it). It was ranked 11th when I enrolled , 21th when I graduated.

I believe it is because the better students are not taking O levels like those in the IB program in RI or Chinese High . Cream ala cream.

However, in the mailing list , it was stressed that teachers have to stay behind and teach until 8pm everyday, should the school be reduced into number crunching factories by all this rankings, I doubt these quantitative measures (ie no. of students with A1) is a good indicator for good schools

A litmus test of a good school should be one that produces good leaders, I certainly hope the MP that caught fire last weekend isnt from Cat high

Other musing on the search trends from google showed the following term rankings as at end of today.One can deduce that temasek poly will be the most popular choice for many O level graduates, therefore they will lower their cut off point this year.

1.	temasek poly
2.	singapore poly
3.	ngee ann poly
4.	republic poly
5.	nanyang poly
7.	nanyang jc
8.	acjc
9.	nyp
10.	singapore polytechnic
11.	o level results
12.	anderson jc
13.	meridian jc
14.	jae

15.	sajc
17.	temasek polytechnic
18.	nanyang polytechnic
19.	catholic junior college
20.	innova jc
21.	nyjc
22.	republic polytechnic
23.	mdis
24.	millenia institute
25.	jae 2009

Red-nano caught Red-handed

I’m be really stupid to believe this mistake? haha what do you think is the value of $50 and $100 in 6 nov 1958 when a bowl of noodles just cost only 5cents.Assuming if I’ve $100 back then,why would I want to enroll in local chinese communist schools knowing that I have the deep pockets to go cambridge and graduate as a top-class propagandist with honours in fabricating history . Red-nano is a product of Singapore Press Holdings.

Recap: Afternoon with Jim Rogers and MTI

Source: KAL cartoon, The Economist

Jim Rogers condemned the bailout us, us bankers should be jailed

• Shorted US Bonds
• Water Treatment
• oil-sands in alberta
• Airlines next to pickup
• Chinese Tourism boom like japanese tourism in the 90s
• Holding on to NZ/AUD currency
• Commodities 16yr bull run , now in 9th year
• More energy need to get energy out from biofuel
• 19th century -> UK , 20th century -> US , 21st century -> Asia

MTI-NUS dialog

• Banks leverage and blow up in cycles , cannot be avoided because of financial innovations
• CPF is self-funded, 1 to 1 system.
• CPF in 2030 due to aging population might experience more net withdrawal then deposit
• CPF buy govt bonds, GIC pays 4% on those bonds,
• Not good to socialise all CFP members’ risk, 20 yr old might have different risk profile from 60 yr old
• Inflation is imported , due to economy of singapore, MAS fiscal policy directed at exchange rate / trade weighted basket of currency rather than an interest rate policy. Pros and Cons cannot control both at the same time.
• Growth = capital + land +Total Productivity Factor (TPF)

Poor Singaporeans

I was wrong once about youtube being a collection of time-wasting cartoons, and a contagion of self-narcissistic camwhorers . I think youtube is a Godsend, there are various news channel podcasting online and even summary channels of newschannels. Nowadays I seldom tune into Channelnewsasia , except for the occasional documentaries and features on singapore’s art or business scene. Neither do I read the straits times except to browse for the latest hand-phones available in the market.

While the government has exhorted in the Mainstream Media that Singapore tops for expat living, native heartlanders are suffering due to inflation and the higher GST on essential food items,rising transport fares.
An ex-colleague (a foreign-talent from south asia ) remarked that from her observation of the people on the streets there seems to be more expats than singaporeans. My reply was that would not be enough majority voting for the present government if there are more than 5 non-singaporeans out of 10.

I’m waiting for that day to come, when there are no more walkovers

Quotable

http://commentarysingapore.blogspot.com/2006/10/karmic-biscuits.html

The problem with many Singaporeans, as I see it, is that they don’t even know what their game is about. They don’t know what they’re playing for. They just blindly follow what everyone else around them seems to be doing. They blindly aspire to what everyone else around them seems to be aspiring to.

You were born an original. Don’t die a copy. Find your own path.

IHT on Indian PM Singh Speech

Gentleman, A. (2006). India, at age 59, gets ‘must-do-better’ lecture.
Internation Herald Tribune. NEW DELHI.

As India entered its 60th year of independence this week, Prime Minister Manmohan Singh might have been forgiven for indulging in a short bout of self-congratulation.

The Innovative Intelligent In-complaintive Worker

Reading the ST papers today I’m not surprised to find that URA is prepping up to implement

“The KRIS Intelligent Filer (KIF), an innovative system that can mimic human decision-making and behaviour, uses artificial intelligence (AI) to manage electronic documents. As the system makes use of a behaviour-based AI engine, it has the capability to learn and become more accurate over time.”