Brushing aside important questions

http://www.channelnewsasia.com/stories/singaporelocalnews/view/296348/1/.html

MOE rejects about 100 out of 3000 applications for relief teaching annually

In particular Mr Siew asked why playwright Alfian Sa’at’ was rejected in his application for relief teaching.

Rear Admiral Lui said it was inappropriate to discuss individual cases of teachers or relief teachers in the House.

ilove.sg – the pledge

Elsewhere in the world

http://www.msnbc.msn.com/id/20227400/site/newsweek/
China Regulates Buddhist Reincarnation
In one of history’s more absurd acts of totalitarianism, China has banned Buddhist monks in Tibet from reincarnating without government permission.

http://www.bacn2.com/
What is “bacn”? Its emails that you actually want, but end up having your inbox flooded anyway. E.g. Facebook notifications, twitter updates, mailing lists, etc

Free will at the most basic level.

http://techfaction.com/do-we-really-have-free-will
Do we really have free will?

Now, if we go back to the time before the question is asked, and ask him again, he would say no again. No matter how many times you rewind the events and ask, he will still say no. It is like rewinding a tape and playing it, the content does not change. He judged based on his experiences and conditions. There is no point for him to buy that pair of shoes.

He doesn’t really have a choice as the factors forces him to choose.

…

With this, you should see that how his life turns out is predetermined, even before his conception. If you take quantum mechanics into account, the possibilities are restricted as the chain of events is not really a chain but a tree(Root ->(1:*) branches ->(1:*) branches/leaves).

And with his life and course of action pre-determined, how can there be true free will? Free will is just an illusion.

National Day Rally Speech 07

*Will be updated as i gather more information.
Added On Workfare 20/08

On Philanthropy
Speech in Mandarin, Point 13
PM cited a few famous philanthropists past and present, and encouraged more successful people to take up this role. I agree with that, but not with him saying that its something the Govt cannot do. He said philanthropists have the moral high-ground and provide a model example to the rest of the citizens, and that an MP would have to think twice about admonish someone, a Minister thrice. There’s not reason that an MP or Minister cannot do philanthropic work, or deeds to deserve the respect of the people. Rather than call out for others to start giving, why not first set an example, as among the highest paid people in Singapore (JB and some say the world), so that others can see that they truly care and are serious about the community.

On Showing us the Old People
Working Longer, 1 b iii (6)

Resident: Because I didn’t know I was going to live so long!”

Unfortunately, if the dead could talk, many would say they didn’t know they would die so young. Yes we should plan for our old age, but within reasonable extent please.

On CPF
Improving CPF, 4 b iii-iv

iii. You can still use the $60,000 for housing or medical expenses

This is a little misleading. You can only use whatever is in your Ordinary Account (OA) for housing expenses. Therefore if you just have $20,000 in your OA, you will be able to use that, and take a loan for the rest, to be paid off with future CPF OA deposits. The cap on additional 1% interest for the combined accounts (OA + Special, Medisave, and Retirement Accounts) will still be in effect on the first $60,000, just that the OA is empty after the property purchase.

iv. But not to take out to invest on your own (through CPFIS)

Always strings attached. Now, we cannot use the first $60,000 in the combined accounts to invest under the CPFIS. So most people can forget about actively trying to grow their CPF funds by themselves till they’re middle-aged and have that surplus to work with. I’m not arguing whether 1% risk-free is better then 3% (arbitrary) with risk, but on them molly-coddling us once again. When i earn my salary, i expect to be given the option to decide what to do with it.

Still on the 1% increase, its about time they raised it. When online savings accounts, not even fixed deposits, can reach 2% (Standard Charted and Maybank a while back) 2.5% on forced savings with so many restrictions that keeps the money locked in really is pathetic. However, whats with the cap? With minimum sum reaching $120,000 in a few years time, we’d be getting the additional 1% on just half of it. The limit of the amount of funds we can transfer to the Special Account (SA) equal to the minimum sum, is another cap that limits our “returns” on our “investment” in the CPF. Our cash is locked in, and we can’t even maximize returns. If CPFB can afford to distribute an additional 1% from the returns they make from investing our funds, they should give it for the whole amount, and not take the profit from what is above the cap.

On Workfare
Working Longer, 4 c iii
Will increasing the payout instead encourage employers to lower wages? I, as an employee under the old workfare scheme, would much rather get $1,450 a month, which entitles me to $100 a month of workfare bonus (provided i work at least 6 months), than $1,510 a month, which excludes me from the bonus. Let’s say under free-market conditions the monthly pay is $1,501, under the old workfare, cut-throat employers will offer a monthly pay of $1,402 (workfare bonus $100), and employees should logically take it for the extra $1 while employers save $99. With the doubling of handouts, will this further stretch the disparity between market wages and real wages? Is there a law that handles errant employers that i have missed?

Is microlending viable here?

http://www.straitstimes.com/Free/Story/STIStory_148215.html
Help the poor to start businesses: Nobel winner

In his closing remarks, IPS chairman Professor Tommy Koh pointed out that initiatives similar to what the Grameen Bank was doing could work in Singapore.

Families which earned less than $2,000 a month here had difficulty securing loans.

‘Banks don’t consider them credit-worthy,’ said ProfKoh. As a result, some fell into the clutches of loan sharks.

Garmeen Bank started out, correct me if I’m wrong, lending a few dollars to the extreme poor to help finance, for example, the purchase of a goat, from which the borrower could make a living selling milk. How can this concept be applied here in Singapore?

First and foremost, the loan has to be of an amount relative to the standard of living of the country, and in Singapore, the starting up and running of even a small business requires a substantial amount from the costs of capital, rent and other expenses. Businesses that require little capital would probably imply having a specific skill set which is obtained from training that the loan should be able to cover. The average microloan made by ACCION USA is US$5,300 (HERE).

Next, who will provide the loans? If it were commercially profitable, the banks would all be clamoring to get a share in the market. Furthermore, having no collateral and low income classifies these borrowers non-credit worthy. Currently, the US economy is being rocked by loans made to non-credit worthy borrowers, also known as sub-prime, and the world is feeling the effects. I am not saying that microlending will lead to this outcome, but defaulting on loans is a definite possibility. So perhaps the Govt or a charity would consider taking up the challenge.

Third, to elaborate on defaulting, the entrepreneurial conditions in Singapore is not exactly open and welcoming. Peddling wares on the streets could get you fined. Rent is high and competition is quick to pounce when something profitable is apparent. Perhaps I’m not creative enough, but I’m skeptical to how likely it is for anyone, not just a microfinanced person to start a successful business. Taking into account the level of failure, even if it is much lower than what i expect, the lender would have to charge a significantly higher interest to cover costs and defaults. If one of the purposes of microlending is to save people from the “clutches of loan sharks”, the interest has to be much lower than what the illegal lenders are charging.

Fourth, what criteria decides who qualifies for a loan? The loan is based on trust, yes, but should there be an income cap to focus the loans towards the poorer percentile of society? And more importantly, is there a criterion that borrowers have to fulfill? Such as: not borrowed within 10months to prevent a reliance on the loans, or a default history of once or twice only taking into account the likelihood of default, etc. If the judging is too strict, then possibly many people would not be able to reap the theoretical benefits of attaining a loan, and if it isn’t strict enough, well, giving away free money isn’t a good way to cultivate self-sustainability.

Who would (or should) the microlending program in Singapore target? The extreme poor, the homeless and the needy? In urban Singapore is it possible for them to start a business? There are already options in place for the unemployed to get sponsorship for skills training (see Singapore Workforce Skills Qualifications) as well as others highlighted HERE. Workfare was also implemented as a monetary incentive. The effectiveness of such schemes and programs I do not know. If, unlike Grameen Bank, the microlending is not for the extreme poor, then is it targeting those who need funds for start-ups? I believe there are already opportunities for those, think SPRING, SEEDS etc.

What are your ideas?

We can’t get what’s ours.

http://www.channelnewsasia.com/stories/singaporelocalnews/view/293915/1/.html
Government may make buying annuity compulsory: Lim Boon Heng
Said Mr Lim: “If you have a full minimum sum in CPF, when you withdraw the CPF, CPF will pay you $700 over a month. But it’s for 20 years. At the end of 20 years, you’ll have nothing to withdraw.

“If you buy an annuity, the insurance company will pay you less – $500 a month. But the insurance company will have to pay you for as long as you live. And if you live to 100 (years old), they’ll have to continue paying you till you’re 100. Therefore it’s a lesser monthly sum but you’re insured a little longer.

Now, if people do not take $700 a month and instead withdraw just $500, they can actually stretch their CPF an extra 8 years. So a total of 28 years after we stop working can we continue to support ourselves, according to the Govt’s plan of helping us help ourselves. If the new re-employment law comes into effect, we will work till 62 and will run out of funds at 90! Seriously, how many people expect to live that long? Statistics from the UN Database (HERE) gives Singapore a predicted life expectancy of 83 years in 2050. Also note that our Minister Without Portfolio but in-charge of aging issues, Lim Boon Heng, said “If we can work longer, we need not draw on the minimum sum at 62. We should at least defer the draw-down to 65, and continue to work in the mean time.” (HERE) Thats makes the CPF last till 93, a whole 10 years more than expected. If indeed the policy of compulsory annuity is implemented, it would be a golden era for the insurance industry. Forget IR and life-sciences kids, study to go work in AIA/Prudential/Aviva/Great Eastern/AXA/Manulife etc.

RefugeeSG

http://refugeesg.wordpress.com/

Refugees SG aims to create awareness for these refugees, and through this awareness play a part in encouraging leaders of Myanmar, Laos, ASEAN, and the UN to do something this. We encourage people to sign the petition available on this site (see here) to ask various leaders to do something about these refugees.

Pointlessness of it all

Like Olympic medals and tennis trophies, all they signified was that the owner had done something of no benefit to anyone more capably than everyone else.
- “Catch-22″, Joseph Heller

http://www.channelnewsasia.com/stories/singaporelocalnews/view/293736/1/.html
Jacob’s builds biscuit sculpture in record-breaking attempt

Biscuit-maker Jacob’s is hoping for a place in the Singapore Book of Records, with the ‘Largest Sculpture Made of Biscuits’.

make

Magazine + Plastic Folder + Scissors + Sewing Machine =

Technical Specifications

Fully customizable. Add a coin pouch, more pockets, etc.