Mumbai terrorist attacks: A look at the confirmed foreigner deaths in Mumbai – Associated Press.
Andrew Loh / Deputy Editor
In February this year, I wrote a piece titled, Bitter medicine prescription – with a little spin thrown in. It was in response to the Parliamentary debate on the budget. Nine months later, we revisit the comments and remarks by some People’s Action Party (PAP) Members of Parliament (MP) made in February and in 2007.
In the earlier article, I asked:
With the cost of living increasing at an alarming rate and inflation breaching record levels, one wonders when Singaporeans will get to “enjoy” the fruits of this so-called “golden era”.
Well, it looks like we will have to wait a little while longer because, just today – 28 November – Prime Minister Lee Hsien Loong said that “there is still bitter medicine to be taken” (CNA), echoing what he said in 2007 with regards to the GST hike:
“Is it better to take your medicine sooner or stretch it out? Take medicine once or two times? I prefer to take my medicine early…” he said then. (CNA)
Then as now, he did not say how long more Singaporeans will have to swallow such “bitter medicine”, of course. But all projections say that the current downturn will last between two to three years. So, that gives us an idea of how much longer the “doctor” will have to prescribe his everlasting “bitter pills”.
But wait.
Were we not told of all the nice things that will happen to us if we took our “bitter medicine” in 2007? During the debate in Parliament on the Budget (and the GST hike) that year, various PAP MPs defended the Government.
MP for Ang Mo Kio GRC, Lee Bee Wah, was reported by the Straits Times thus:
On Ms Lim’s criticism of the timing of the GST hike, she said it was better to raise the tax now while the economy was doing well, rather then wait till things took a turn for the worse. Using a Hokkien phrase, she warned against ‘looking for a toilet only when one needs to pass motion’, a comment that evoked laughter from the House. (Link)
I think Singaporeans are the ones looking for the toilet now, with the bitter pill seemingly a laxative, rather than any actual relief.
Various PAP MPs all had very high praises for the budget then – calling it ‘comprehensive and forward-thinking’, ‘good-intentioned’, one which was ‘made in heaven’, ‘inclusive and a landmark Budget’, ‘pragmatic, innovative and exemplary’, a ‘viable alternative to welfare’, ‘generous and forward-looking’.
Dr Fatimah Lateef was ecstatic, almost in a trance, one would think, in her praise:
Let me share with her (NCMP Sylvia Lim) that nowhere else in the world can you get a Budget which includes love and compassion in abundance as this one.
Well, as they say, love and compassion won’t fill your stomachs.
And so more “bitter medicine” is needed – even after more than a year.
More “bitter medicine” and “bitter pills” for Singaporeans, of course, in case you’re still wondering. For the ministers, they have not-so-bitter medicine for themselves. In fact, just two months after that Parliamentary debate, ministers had the first of their scheduled 3-step pay hike in April 2007. The second rise came in January this year (2008).
What about Singaporeans?
Well, we saw record inflation – and a whole host of costs increases across the board; everything from rice to petrol, bus fares to milk powder. What Singaporeans experienced was a relentless rising cost of living in Singapore. Have a look at the list here but be careful, it might make you puke out the bitter medicine our white-shirted doctors are prescribing.
But lets be serious.
Dear Prime Minister, Singaporeans have taken bitter medicine for more than a year now – since you yourself prescribed it in Parliament in 2007 and you said that “once we have done it, we can move on.” (CNA)
Well, where are we moving on to now? More bitter pills?
Channel NewsAsia, on November 2008, reported you as having said:
Mr Lee said that while there is still bitter medicine to be taken, the Singapore government has put a bit more sugar coating on the pill. (CNA)
Dear Prime Minister, “sugar coating”?
You asked in 2007:
Is it better to take your medicine sooner or stretch it out? Take medicine once or two times?
Dear Prime Minister, I am beginning to feel that your medicine is not very good – or effective. They only seem to make your “patients” dependent on your prescriptions. You seem to take some morbid pleasure in using the term “bitter medicine” too. You have used it twice in two years.
Prime Minister, the very fact that you keep using the terms “bitter medicine” and “bitter pills” show me the insensitivity which you seem to display towards what Singaporeans are going through.
Perhaps you and your team should try and taste some of the bitter medicine you dish out so happily to Singaporeans.
Or perhaps Singaporeans should prescribe some bitter pills for you and your team – at the next General Elections.
Perhaps then, we can all be rid of such neverending sugar-coated bitter pills.
After all, under your leadership, all that Singaporeans seem to be doing these past years is swallowing bitter stuff – while at the same time, being told by you and your Government how exceptional a government you are and how Singapore is in a ‘golden period’.
Someone, certainly, is being fooled.
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Picture from epthinking.
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See how shameful is our clown prince is in term of salary. You can’t beat that with so many great leaders staring at him.
“http://www.moneymind.sg/2008/12/highest-paid-presidents-pms-around.html”
Opppsss…. did someone ask how much in the past he got by the combined salaries of Deputy prime minister, Finance Minister and Chairman of MAS ?
Gemami
Thanks for yr post.
Maybe we can combine resources to write about the book? haha.
Take care. You are the best here!
Hey Daniel, thanks for the link. I REALLY admire the stark contrast in the GDP and salary charts :D
“137) Lazarus on December 2nd, 2008 10.23 am
But make no doubt, it is through the instrument of fear that they solicit compliance.
How can so few men otherwise rule over such a large population in the virtual?”
fear ! few men !! rule !!! population !!!! Are you implying something on the subtle side. Some familiar ground that we are already currently under.
Yes, its still early day, but I have a rough feel where this will go, call it intuition or just instinct, but I have a rough feel where this will go. next time, dont make threats….dont spread lies…do you understand…go in peace!
http://www.youtube.com/watch?v=JuAskRsP5K0&feature=related
SD
This seems to be a weird habitual drug-addicted PM.
Ordinary drug addicts take drugs for kicks and pleasure of hallucination but not this weird one. He likes to take drugs for the bitterness and suffering instead of for kicks and pleasure.
I think we are in for very serious trouble. We seriously need a new PM – the sooner the better.
t just sold off the power station. ntuc is biggest supermarket chain yet their prices are not as good as other smaller supermarket. why?
be prepared, one day they might just sell singapore to the right buyer
sheng siong only got about 20 plus stores, ntuc got almost 200 stores. why????they have 10 times the buying power
Soon they are going to auction you people off to other countries as maids and construction workers.
Hello, Bang, Bye, Bye X 20.
O Lazarus! Where are thy twenty scholars?
O where have they gone?
Tail between thy legs,
To be humbled by thy own threat!
Go eat thy pie, of rotten eggs!
Don/Tiredsingaporean,
Temesak can just sell our three power houses without any fanfare. I guess they need the money to offset the billion dollars losses from ill-timed investments.
I remember when they bought into Optus, many Australians raised an uproar as it is like selling away your national heritage. Of course, finally, Optus was bought by Temesak due to the good pricing.
Shin Corp (Thai) was also bought by Temesak/GIC but due to public uproar, the sales was outlawed and I think they lost billions again here due to the depressed prices now. They have to sell away their stake soon.
We Singaporeans sometimes have little power to oppose such sales as once sold, the private companies can actually raise tariffs on their products and the victims are all the commenrs.
We had a glimpse of that when electricity tariff was raised 21% just two months back by a privatised company.
I am against corporate fire sales of our country resources as it will only hurt the pockets of commoners here.
“160) gemami on December 3rd, 2008 7.34 am
O Lazarus! Where are thy twenty scholars?”
Do not make of them ok.
Scholars ?? Their type is only good in creating / devising rent seeking rules.
When it comes to dynamic stuff having to get their hands real dirty, they are stuck. They have to look good, perfect, numero uno. They will only accept jargons like talent, no grandstanding, not playing to the gallery, honest mistakes.
How silly, maybe I imagine too much.
That shows how shallow you are Gemama. Lazarus was not afraid. He knows when not to walk into a big bear trap.
Its pointless to fight against them, the rig everything up. You really believe, if even toc polls the results, we could win?
Hello all they would do is post it in their gaming bulletin board and flying voters will come in and thats how they will cook the numbers.
Like I said sore losers and crookedness go hand in hand.
http://www.youtube.com/watch?v=pvMmoG8CZyQ&feature=related
we dont play with people who are sore losers.
Missus commented today that power stations are a KEY NATIONAL STRATEGIC ASSET and it was funny how all these were sold right from under the citizens’ noses.
She said that in Australia, citizens would have protested such a sale (and have done so on numerous occasions when national assets were being sold off).
Odd that Temasek just sold this without as much as a squawk.
On another note, I am curious how these assets were “transferred” across from public assets to a private asset. Years ago, these power generating factories (along with MRT stations/MRT infrastructure, telecom infrastructure, water and gas lines and other infrastructure) were built with public funds. How were they “transferred” to private companies?
To widowmaker:
Lazarus was the one who FIRST issued the challenge:
“The only way to deal with this fellow is to get 20 of the best scholars let him have a go with them and after that, I am sure, he would be just in the mood for humble pie.”
From my reading of the posts here, SD merely took up the challenge and proposed the terms of the engagement, which seem fair to me.
“That shows how shallow you are Gemama. Lazarus was not afraid. He knows when not to walk into a big bear trap. ”
And you think we do not know that. They are just no match for this kind of dynamic discourse. The overall system (with certain conflicting moving parts) is in such they will not have chance if one really wants to engage deeply and I mean real deep.
They are only good at no-noise, no-disturbance, no-obstacle, no-what-nots kind of set up in order for them to operate nicely. They are only good in throwing out standard template regurgitation.
But then, they do not seem to mind giving us all the different medical pills to make us hungry – like competition from foreigners, GST, ERP, also the opportunity to say thank you for doing ‘investments’ on our behalf, etc (just name the rest for me lah).
So, traps are good for certain people but not good for another group. We know they are ‘good’, very very ‘good’ just as in Animal Farm ?
Gilbert,
I concur with you on your concern about the sale of core national assets to private enterprises. I am no economist but I can understand that these buyers will have an even more pressing and legitimate need to watch their bottom line. What better way to pass any cost increase to hapless captive customers? What if these enterprises fail down the road? What impact will it have on the nation? Electricity is a basic input in many supply chains, and I can’t see why any country would be so eager to sell these off for a profit? Is this consistent with the long-term view that’s held by the ruling party with respect to investment?
And btw, just wondering if this sale would be booked for 2008 and somehow find its way into the computation of this year’s GDP.
Lazarus was not afraid. He knows when not to walk into a big bear trap. ”
Greetings widowmaker,
You speak as if you know the Lazarus guy. Are you one with him? How do you know he is not trembling and shitting in his pants at the thought of his challenge being taken up by his opponent? Perhaps, it’s the same reason why the 20 promised scholars suddenly evaporated into thin air – cyberspace or otherwise. And just like Lazarus, you are also engaging in the same sport of trying to assassinate the brotherhood character.
(…excuse me, I need to go visit the loo…..)
……….. okay, I’m back…………………….
I just needed to throw up, if you don’t mind. Puking makes me feel better at times like these.
You must have knotted your own brain cells (if any). The challenge was made by the Laz guy, in case you’ve forgotten, or are those your own words instead? It was not by the figment-of-your-imagination space brotherhood creature.
Where is he now, the Laz guy? Waiting to be called out of the tomb – again?
Better remain where he is in case he comes across another noose to place over his head.
Gee, I am so polite.
logicalman,
Our world-class clowns can even sell their soul, conscience and moral authority for mere millions, what thing they cannot sell ? They can’t even discern what is right and what is wrong, and all they can regurgitate is the same old message that they do it for commerical interersts, in other words and simple term, MONEY. If they screw anybody unjustly, they always justify that in the name of nation-building and nation-security. Under this regime, no wonder I find a soulless and incompassionate society. To think that our children are educated in this UNIQUE environment who recite the propaganda pledge everyday without knowing what it really means to them.
They can even sell “scambomb” to the public without feeling remorse and guilty, they can even sell the kangaroo system to the world of how world-class it is. They can even sell their legal profession that bring disgrace to the rule of law just to appease their masters. They even manipulate and brainwash educated youngster like P65 as leader to perpetuate their idealism, policy and power.
And to think that most P65 Leeders can only bring the same kind of arrogancy and nonsense as their masters to the public is really unbelieveable.
Hi Fellow Singaporeans,
I have posted this in another thread and I think it is good to post it here too.
How often have we heard the above expression in our course of conversations, whether here in TOC or elsewhere in our own private gatherings. Do we really believe that Singaporeans are fully responsible for the rubbish perpetuated by the PAP govt? I seriously think we should stop thinking that we are at fault.
Look at the various election platforms by which the PAP sourced for our votes.
- A more open and consultative government.
- A gracious society
- The next lap (where we look after one another especially those lagging behind).
These are just of the few telling ones; and; it is by these promises that majority of the voters were taken in, believed and voted.
When things go wrong, the blame suddenly falls on the people for giving the PAP govt the blank check to govern. How wrong this percetion is. If it is true, then every democratic govt of the world can do likewise and blame the people for every failed policy.
It is time for us to wake up and be clever enough to discern the lies that this PAP govt has been feeding us. When you start to chant these lies like a mantra, you will end up believing that they are truth – which is furthest from the truth.
Think about it, won’t you?
Regards to all.
“We had a glimpse of that when electricity tariff was raised 21% just two months back by a privatised company.”
Not to distract the issue but the increase in tariff is not “backed by a privatised company”. There’s a standard methodology to calculating the tariff and for 4Q it’s just that we were caught by falling spot prices and previously high forward prices.
It’s tempting to think that the buying companies somehow has power to influence tariff but speaking as someone from the industry itself I can assure you it’s not the case.
“Not to distract the issue but the increase in tariff is not “backed by a privatised company”. There’s a standard methodology to calculating the tariff and for 4Q it’s just that we were caught by falling spot prices and previously high forward prices.”
I thought that some clown tell us it is a secret formula , and it is so secret it cannot tell the world. So how can you tell if the methodology may not involve price fixing and collusion with some public companies ? Remember in our country, anything that make money for our coffers, anything goes, it is not that we are new in Singapore.
Go to EMA website and read the material on this thing called “vesting contracts”. The methodology for determining the LRMC strike price (which sort of forms the basis for the tariff) is there and if you can understand it, it will explain why tariff goes up when spot prices came down for this quarter.
That being said, while the LRMC strike price is closely related to the tariff, the final tariff is calculated by SP Services and incorporates additional charges like transmission, account services etc.
Hi guys,
What is this thing about 1 against 20? Is there going to be a pit-fight? If it is a civil bout between the Liaison Officer of the Brotherhood and Lazarus (not the Young PAP guy, right?) and his 20 merry men, TOC would be glad to host and provide a special space for this.
But first, someone do explain what on earth is going on? How did we get from bitter medicine to a duel between mortals and immortals?
Thank you.
Sincerely.
The price of an essential public good like electricity should be kept as stable as possible, to avoid wreaking havoc/sabotage on prices, consumption and economy down the supply chain. That’s where hedging comes in, I think, from whatever I can recall from the A-level & uni economics courses I took.
However, I remain puzzled as to why oil contracts are used instead of gas, which is the primary input to the production of electricity here. Would I sell cakes and cost it based on oil prices, for example? Is it not timely to review the costing of electricity, and to make it known to the public the actual costs, as well as any subsidies applied, so that we can be sure there isn’t any profiteering?
“Do we really believe that Singaporeans are fully responsible for the rubbish perpetuated by the PAP govt?”
Of course no lah, we are only responsible for making noise and do a lot complaints lah. That is what we can do lah.
We are so powerless that we can’t even eat in MRT, will get fined if we sleep in park bench, can’t even buy chewing gum here, etc.
What responsible ? I thought all the while they want us to be kuai kuai listen only while they do the difficult ‘high-level’ thinking. Now, it’s time for my turn to go to the toilet.
Gemami/Logicalman
I tend to agree with you Gemami here that we have somehow given our govt the blank check to cash in on whatever/however they want to. The single-party system that they advocated will only bring hardship to the commoners.
I am also surprised no one raises a nook about the sale of our national treasures. One wonders whether our country is so dumb or not? If this happen in any civilised part of the country, they will rise up in demonstration and protest. Just asked the Thias about Shin Corp and the Aussies on Optus.
Here, the sales passed through smoothly as if we are all dead! C’mon Singapore!
Fancy we are selling Seraya to the Malaysians! This is unimaginable considering that just not so long ago a certain PM has threatened Singapore with the water supply issue.
Unless there is a viable check and balance system, this one-tracked mindset will go on without consideration on how the country will feel.
I may be unable to sleep again tonight…
“However, I remain puzzled as to why oil contracts are used instead of gas, which is the primary input to the production of electricity here.”
First and foremost I wish to state that I’m speaking as an individual and not representing my employer, Temasek or even the Singapore gahmen. I don’t want to get sacked :)
Next, why oil and not gas prices? Some points here (I’m just postulating but I think that was the history behind the pricing formula):
a) Natural gas is a seller’s market. The seller has more say; buyer can only negotiate;
b) Seller therefore can decide the basis of gas pricing; buyer can only negotiate;
c) Seller chooses to peg to oil because oil is the “alternative fuel” for Singapore; other fuel such as coal makes no sense because Singapore doesn’t use coal;
d) Spot NG prices are irrelevant because we need long term supply contracts to ensure that we have the gas; spot market is not a reliable platform to obtain supply of physical gas.
As I said I am only postulating because I wasn’t involved in the negotiation itself. So the above is based on what I understood from other people in the industry.
As for the sale of Seraya (or the sale of all the gencos), well only the gahmen can answer why…
How did we get from bitter medicine to a duel between mortals and immortals?
Hi TOC,
This is a case of bitter medicine losing its sugar-coating and this is how it happened.
Someone called Lazarus walked out of his tomb, apparently after hearing some voices in his head, looked up and noticed some cosmic interference in the night sky and thought some strange creatures from the land of dark and plenty had descended onto a tiny little place marked by a little red colour dot on his map.
Believing he had attained nirvanaic ecstasy, and having special powers invested unto himself, he began to preach to the group of descendants who called themselves the brotherhood.
Preaching with drunken authority, he spared no one and particularly targeted his preaching at one who called himself the daddy of singapore. Probably he took offence at the tiltle this alien creature gave himself and he wanted it for himself. He wanted to be a daddy to all and sundry.
To gain the title of being the Daddy of Singapore, he threw down his challenge to the poor creature with the unfortunate title, the Liaison officer. To make sure that he won’t be disadvantaged, he vowed to bring in twenty of the best of the best drunken scholars from his side to fight the Liaison officer who dare calls himself the daddy of singapore. He failed to forsee that his challenge would be taken up.
Instead of 20 drunken scholars all we have heard from the dead man is 27 hours of silence. Oops! did I say “dead man”. Probably that’s the reason for the silence?
So you see, TOC, you might not have to stage the fight after all. Not before we can get all 21 tails off the legs they are residing between.
To 178
Hmm even if you don’t say you represent your company, no one would have known anyway :)
To 177
Citizens have been threatened repeatedly, again and again, from “all your daughters will become maids” to “you be thankful”. Not surprising that the same trick is used over and over again – even when just about no one realise that GIC/Temasek investments have probably gone under just overnight. ‘National Treasures’ have ‘disappeared’, fellow citizens being pilfered, life savings being spirited away – all in a moment of confusion and uncertainty.
The terms ‘top/world class talents’ are only subjective – and bear no relevance to one’s actual social contribution or performance. Need I say more about those who self-proclaim?
Being taken advantage of again, and again, and yet again, many prefer to remain silent, ‘lan lan suck thumb’ as they were thought in their national service days, or just lament during coffeeshop talks. Will not deny that I’m one of such a person, but it feels like the time is coming as more people stand up for themselves, and for the people who believe in them. Via the response here and from actions of individuals, it is heartening to still be able to find people who are willing to argue, to challenge the norm, to serve as a barrier against moves against the people’s wishes, and a reminder for people as to what they are living for.
As to why gas prices are pegged to oil prices, the problem afflicts more than just Singapore.
This is from IHT
http://www.iht.com/articles/2008/10/29/business/rengas.php
Pegging to oil prices looks normal, but it was a mistake in “hedging” that caused us to pay more when prices dropped as drastically.
Hedging, for the lack of a better word, is like gambling. You take bets on how the prices would change.
In companies like SIA, the policy is NEVER to make money off hedging but merely to ensure a more predictable cost to the company. Not sure what the policy is with EMA.
Whatever the case, someone sure made money from this gamble.
Why are gas prices pegged to oil prices?
Many people say that history plays a preponderant role. But that’s bs.
Reasons are four fold:
(1)Firstly, gas /cubic meter vs barrel / cost significantly much more to process, transport and store when compared to crude. That’s why when natural gas was first discovered, it was just flared off – it wasn’t that gas companies didn’t realize they were burning money, it’s just like trying to transport ice from the Antarctica to Singapore – the transportation cost just didnt add up to make money sense.
(2) Secondly, the cost per km / for transporting gas is higher and far more complex than lets say petroleum / no one for example refuels their car at home, but bear in mind when you turn on the stove, how did the gas get there? / In addition, the stuff that is commonly used to make the transportation and storage facilities are ALL produced by companies who have traditionally supplied to oil companies and their production cost is linked to the price of oil / so if oil goes up, the price of piping, metering, freight & forwarding, transport, storage silos etc goes up as well.
(3) And the third reason is price stability – but here it gets screwy and a bit complicated; because we are not talking about the real price as much as we are about the agreed selling and buying price – so it is really a case of lets say 4 people playing monopoly who suddenly decide to throw away the rule book and price lets say Mayfair for £1,000 instead of 500, now if you think abt it, that will also have a knock on effect on lets say the value of real estate in Whitechapel and it may also mean if you pass go instead of getting 200, you may end up with 500. But for your understanding, what’s important here is when the players agree on the price; then it becomes the price and in this way the illusion becomes reality.
(4) The fourth reason is very closely linked with (3) albeit with an economic twist / and it’s due to the nature of how gas trading and structured instruments relating to commodities are profiled / understand this. no one just decides to wake up on Monday and buy lets say 3 million cubic feet of gas. The market is NEVER structured to service the short or even intermediate term, you may find this in the petroleum market, but NEVER in commoditizing gas markets /many people have tried to do it / they have lost money /
So what you need to understand here is ALL gas deals are specifically structure to service ONLY the exceptionally long term i.e the median is usually 20 years or more. And there is a good reason for that; its too darn expensive to pipe gas. So if you’re a govt like China that needs to buy gas lets say from Burma’s Yetagun offshore gas field for the next yonks years; you need to dump in X, Y and Z billions to construct export pipelines, regeneration pumps, storage depots etc and that’s a huge infrastructural investment; but how do you built in long-term ‘fail proof’ contracts without price stability? How do you even begin to amortize your capital investment through a period of years? How do you mitigate and manage your risk?
Well the short answer is it cannot be done without price stability, it’s like buying a house where the bank can say, your interest can range anywhere from 1% to 5,000% within a period of 30 yrs – so “stability” can only be only be had, if the price of gas is pegged to something that everyone can understand and work with, and usually that’s oil.
That in the palm of your hands is why gas is pegged to oil. And they said, you couldnt learn anything from the internet.
I hope this helps
SD (Internet Liaison officer of the brotherhood)
Very interesting and definitely very enlightening. Thanks!
Now if you really want to get into the belly of this subject; why is gas prices linked to petroleum and why is it all suddenly now turning into the crying game.
It pays to learn one new word. it’s call “peak oil,” IMHO, you could get much more in the term of a good return in your energy and effort, by just spending maybe a few hours reading up on this subject; if you just zoomed into the meat instead of sideskirting the pork belly.
Its good to go.
SD
Yup yup, we are in a golden era….yeah right…maybe for a selected group of people who have huge pay increment?
Ministers pay increase, while normal worker’s pay remains the same or increase at a very slow rate, and we are always given the impression that we shouldn’t ask for pay increment to keep our workforce competitive.
This really answered the downside, thanks!