Wednesday, December 8, 2010

Cult, Common Sense and Powerless

Our govt is very good at giving seemingly 'valid' reason as excuse not to diverge information that is not to their advantage. It is unsettling that they can go unchallenged and change our CPF policies till they have full control of our saving. The feeling is those money don't belong to us! Common sense has it that something is not right, yet we can't do anything except to feel powerless.

They have built a cult around 1 person and their party - which is unhealthy. Remember Alan Greenspan ? While he was Chairman of US Federal Reserve, he seemed to do no wrong. He was placed high up on the pedestal. Now on hindsight, he is 'credited' with precipitating the 2 major crisis -the tech bubble collapse in 2000 and economic meltdown in 2007.

We know even nonsensical policies can be passed which skewed statistic to make things look good. It happened in the US - Bureau of Labor Statistic (BLS) took the recommendation of Boskin Commission to use 'hedonic adjustments' which effectively made the CPI look better which in turn distorted the GDP figure. It was implemented in 1995 and only dropped a few years later ! It could happen in S'pore too.

Another famous cult builder is Chairman Mao. During his era he had implemented numerous disasterous policies and yet got away with them. His decades of absolute power over the lives of his citizens resulted in over 70 million deaths in peacetime. Even till now, he is still pretty much a cult figure in China. There is an inherent danger of having a leader and/or political party which build a cult around themselves as shield.

Even Town Council which main scope is estate management could squander away public fund doing what is suppose to be Temasek and GIC portfolio. So what is going on in Temasek and GIC is worrying since they operate like FBI, shrouded in secrecy. Remember Temasek CEO which they head hunted who left 'suddenly' just after a short period of seat warming ? The official reason is hard to believe. What could be the unofficial reason ? Perhaps he is uncomfortable with Temasek policies which he could not çhange ? Perhaps he discovered hidden skeleton which he is legally required to highlight but powerless to do so ? Or our almighty is uncomfortable with him asking too much questions ? So we have PM Lee wife back in her old seat.

Is it not common sense that it is not 'right' to have various members from the same family holding all the key and important positions in the country ? Besides, it is worrying that we too have - a cult builder with absolute power over the lives of its citizen.

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