During the recent anniversary of Japan's nuclear disaster, CNA has their Japanese correspondent in the news studio. One of her comments was that the Japanese citizens trust their govt. When the govt told them the nuclear plant is safe - they take their words for it.
This is the same in S'pore. S'poreans trust our govt which equates to PAP. So much so that our govt can get away with non transparency in their handling of public fund in CPF, national reserve, town councils, Temasek and GIC. This is the same with the data or rather non-data available on important issues. Neither do they take responsibility or help accountable for those ministers who mess up in public policies implementaton.
Blind Trust is dangerous. Once the tipping point is reach, the decline slide come fast. Just like our once upon a time reliable MRT service. The tipping point has been reached and now we hear of serious major breakdown ever so often.
Tuesday, March 13, 2012
Sunday, March 11, 2012
How much $ is in CPF Board ?
Exactly how much of public saving is CPF Board overseeing ? We know it is alot but how much do they actually have vs 'on paper' only ? We know lots of money from CPF is diverted to govt investment and 'spending' in terms of loan to other govt departments.
CPF Board seems desperate for our money. They raise minimum sum every year, come up with more and more schemes to lock up our CPF, keep encouraging us to top up our A/C and that of our family members.
When you call them up to clarify issue - the first thing they advised you is to top up the a/c. You have to repeat your request before they let you know there are other option available.
Many speculate with good reasons that CPF keeps changing its policies in order to lock up our money is because they could not pay up if they adhere to their original plan to let us withdraw at 55. It is a known fact that the 2 major investment funds lost billions of public money during the financial meltdown and they are perpetually in demand of huge funds for their investment overseas which carry high risk.
So no matter how much money CPF Board oversees - it is never enough due to the huge appetite of our govt under PAP.
In the recent budget, in one breath, it was announce that health care will be affordable and they are increasing the premium for Medishield. How can healthcare be affordable if health insurance premium increase ? One of the reasons insurance premium increase is due to high medical cost. If we have more CPF money suck up into Medishield, less is available in our Medisave account to meet our healthcare cost. Since claiming medical cost from Medishield is an uphill task as the excess clause is so high, it is money going down the drain for most of us. One is likely to be very sick and hospitalise when one is able to claim from Medishield. In such situation, Medishield and even with our Medisave is unlikely to be sufficient to see us through.
This is the reality and seems like our govt is turning a blind eyes to it. They are more interested in getting us pump more of our money into CPF giving the excuse it is for our own good. Really ?
CPF Board seems desperate for our money. They raise minimum sum every year, come up with more and more schemes to lock up our CPF, keep encouraging us to top up our A/C and that of our family members.
When you call them up to clarify issue - the first thing they advised you is to top up the a/c. You have to repeat your request before they let you know there are other option available.
Many speculate with good reasons that CPF keeps changing its policies in order to lock up our money is because they could not pay up if they adhere to their original plan to let us withdraw at 55. It is a known fact that the 2 major investment funds lost billions of public money during the financial meltdown and they are perpetually in demand of huge funds for their investment overseas which carry high risk.
So no matter how much money CPF Board oversees - it is never enough due to the huge appetite of our govt under PAP.
In the recent budget, in one breath, it was announce that health care will be affordable and they are increasing the premium for Medishield. How can healthcare be affordable if health insurance premium increase ? One of the reasons insurance premium increase is due to high medical cost. If we have more CPF money suck up into Medishield, less is available in our Medisave account to meet our healthcare cost. Since claiming medical cost from Medishield is an uphill task as the excess clause is so high, it is money going down the drain for most of us. One is likely to be very sick and hospitalise when one is able to claim from Medishield. In such situation, Medishield and even with our Medisave is unlikely to be sufficient to see us through.
This is the reality and seems like our govt is turning a blind eyes to it. They are more interested in getting us pump more of our money into CPF giving the excuse it is for our own good. Really ?
Saturday, March 3, 2012
Uniquely Singapore
CPF = Central Ponzi Fund.
This is worst than ‘conventional’ ponzi scheme. As it is force contribution into CPF and CPF has the ‘legal’ power not to let us withdraw it.
MOM = Ministry of Morons.
They are in denial that their labour policies contributed to human trafficking. Foreign workers are cheated of by their agents (SG agents taking the bulk of the loot) and end up without work or working without pay. There are cases where females are tricked into prostitution upon arriving here.
MOH = Ministry of Hell
Our hospital wards are full,even with the latest new hospital (being build after more than 10 years even though our population has more the double and S'pore is being promoted as a medical hub to neighbouring countries). Patients who are 'lucky' to be admitted would find themselves sleeping along corridors which are used as temporary wards. Medical fee is so high. Those with chronic illness and need regular check up in polyclinics have to folk out admin fee for using their own medisave fund. Subsided medicine end up more expensive than when one get from private pharmacy. They jack up the medical cost involving everything (consultation, test and medication) and then give it a 'discount'. Then it is loudly proclaimed that medical cost is ‘subsidized’ by the govt.
PR = Protected Residents
They are foreign ‘talent’ and entitled special ‘protection’ which are part of the many benefits over local citizens. They contribute to our GDP growth which our PM and his cabinet of ministers' bonuses are tag to.
This is worst than ‘conventional’ ponzi scheme. As it is force contribution into CPF and CPF has the ‘legal’ power not to let us withdraw it.
MOM = Ministry of Morons.
They are in denial that their labour policies contributed to human trafficking. Foreign workers are cheated of by their agents (SG agents taking the bulk of the loot) and end up without work or working without pay. There are cases where females are tricked into prostitution upon arriving here.
MOH = Ministry of Hell
Our hospital wards are full,even with the latest new hospital (being build after more than 10 years even though our population has more the double and S'pore is being promoted as a medical hub to neighbouring countries). Patients who are 'lucky' to be admitted would find themselves sleeping along corridors which are used as temporary wards. Medical fee is so high. Those with chronic illness and need regular check up in polyclinics have to folk out admin fee for using their own medisave fund. Subsided medicine end up more expensive than when one get from private pharmacy. They jack up the medical cost involving everything (consultation, test and medication) and then give it a 'discount'. Then it is loudly proclaimed that medical cost is ‘subsidized’ by the govt.
PR = Protected Residents
They are foreign ‘talent’ and entitled special ‘protection’ which are part of the many benefits over local citizens. They contribute to our GDP growth which our PM and his cabinet of ministers' bonuses are tag to.
Lease Buy Back Scheme & other LIES
The govt has been frightening us that many S'poreans do not have enough for retirement. Thus they have to lock up our CPF, forcefully make us buy CPF Life ....etc. They are so desperate to 'help' us that they came out with schemes to unlock our money tied up in our HDB flat. After their reverse mortgage scheme failed, as it got our folks into more trouble instead - what with interest payment and losing their flat when the financial institution take possession of the flat when property price plunged, - now they replace it with lease buy back scheme.
Sigh - another ponzi scheme to divert more money into CPF. If a person sell his lease to HDB, the $100 to $200K will go back directly into CPF to buy CPF Life. They have the cheek to tell us that they are giving us $20K as 'incentive'. Out of this $20K, $5K goes into CPF again. So let say the lease is worth $100K, a person would expect to receive $120K with the govt 'incentive'. But the fact is he only gets $15K in cash and $105K is lock up forever in his CPF!
Besides, the 20K is NOT an incentive as HDB market valuation is normally $10K+ less than market price ! All these sound so much like a ponzi scheme, yet when it is implemented by the govt, it is perfectly legal.
Now if a person at 55 is in financial difficulty and CPF Life payment only starts only at 65, how is he suppose to survive for the next 10 years on the $15K cash after he sells his lease? How long will $15K last him even if he is in perfect health condition ? 1 to 2 years at most.
If our citizens do not have enough money for retirement, it is a clear reflection of the failure of various govt policies under PAP. We have worked and saved for our whole life, but never able to catch up with the soaring HDB price and high inflation rate. CPF interest rate has been below our inflation rate for the last 2 decades.
The soaring HDB price which formal Minister Mah BT insisted is 'affordable' based on his skewed statistic and interpretation, has gotten so much out of control that it is hard to reverse it without dire consequence.
Recently our Finance Minister said we can buy a HDB flat on $1K salary. He instantly became the laughing stock in internet discussion. There was a discussion in Money Mind over CNA on financial planning. The panel advised to one of the callers was not to get a flat with $1K salary. Could it be that person heard what Finance Minister said and was fool enough to belief him ?
Then they also encourage folks to downgrade to smaller flat. As usual the 20K 'incentive' is given as a carrot. The price difference between 3 to 4 rooms and 4 to 5 rooms is about 100K. What with the legal fee, admin fee, GST, renovation, moving cost...how much does one get at the end of the day ? Then there is also COV to content with. So one has to balance the COV careful when one sells and buys a flat in open market. If not one will end up getting into more financial difficulties for all the trouble trying to unlock cash from his property.
If one goes through HDB - there is a levy of 40k (for 4 rooms). This is more than the 20K 'incentive' that the govt offers !
Are these schemes really helping the needy ?
Sigh - another ponzi scheme to divert more money into CPF. If a person sell his lease to HDB, the $100 to $200K will go back directly into CPF to buy CPF Life. They have the cheek to tell us that they are giving us $20K as 'incentive'. Out of this $20K, $5K goes into CPF again. So let say the lease is worth $100K, a person would expect to receive $120K with the govt 'incentive'. But the fact is he only gets $15K in cash and $105K is lock up forever in his CPF!
Besides, the 20K is NOT an incentive as HDB market valuation is normally $10K+ less than market price ! All these sound so much like a ponzi scheme, yet when it is implemented by the govt, it is perfectly legal.
Now if a person at 55 is in financial difficulty and CPF Life payment only starts only at 65, how is he suppose to survive for the next 10 years on the $15K cash after he sells his lease? How long will $15K last him even if he is in perfect health condition ? 1 to 2 years at most.
If our citizens do not have enough money for retirement, it is a clear reflection of the failure of various govt policies under PAP. We have worked and saved for our whole life, but never able to catch up with the soaring HDB price and high inflation rate. CPF interest rate has been below our inflation rate for the last 2 decades.
The soaring HDB price which formal Minister Mah BT insisted is 'affordable' based on his skewed statistic and interpretation, has gotten so much out of control that it is hard to reverse it without dire consequence.
Recently our Finance Minister said we can buy a HDB flat on $1K salary. He instantly became the laughing stock in internet discussion. There was a discussion in Money Mind over CNA on financial planning. The panel advised to one of the callers was not to get a flat with $1K salary. Could it be that person heard what Finance Minister said and was fool enough to belief him ?
Then they also encourage folks to downgrade to smaller flat. As usual the 20K 'incentive' is given as a carrot. The price difference between 3 to 4 rooms and 4 to 5 rooms is about 100K. What with the legal fee, admin fee, GST, renovation, moving cost...how much does one get at the end of the day ? Then there is also COV to content with. So one has to balance the COV careful when one sells and buys a flat in open market. If not one will end up getting into more financial difficulties for all the trouble trying to unlock cash from his property.
If one goes through HDB - there is a levy of 40k (for 4 rooms). This is more than the 20K 'incentive' that the govt offers !
Are these schemes really helping the needy ?
Social Conscience
Being silent is not an option in this age. There are folks who do not have any social conscience amongst us. They can be leaders of the country, producers of goods and even ordinary citizens.
If they don't live by their social conscience, then we need to apply social pressure on them by voicing disapproval. Just like the recent case where our national bowler ran over a mother dog - it is a hit and run, though he claimed later that he came back to help - bull shit. It is probably to get back his license plate which have fell off with the impact. He lied through his teeth and is exposed due to his inconsistent statements when interviewed.
There is adverse disapproval by many ordinary citizens and reported in the MSM. But the fact is there are many hit and run cases involving animals according to SPCA. They have never been given any attention until now. Thanks to this infamous bowler, now drivers will think twice about driving away after hitting an animal as they know they will incur the wrath of society.
If a person could hit a dog and not stop to check, likely he may do the same to a human. If one cares enough to render assistant even to an animal, likely he will do the same for a human.
We need to voice out - as it is a sense of justice and living by our conscience. Every little individual effort does matter in promoting a better society and environment.
If they don't live by their social conscience, then we need to apply social pressure on them by voicing disapproval. Just like the recent case where our national bowler ran over a mother dog - it is a hit and run, though he claimed later that he came back to help - bull shit. It is probably to get back his license plate which have fell off with the impact. He lied through his teeth and is exposed due to his inconsistent statements when interviewed.
There is adverse disapproval by many ordinary citizens and reported in the MSM. But the fact is there are many hit and run cases involving animals according to SPCA. They have never been given any attention until now. Thanks to this infamous bowler, now drivers will think twice about driving away after hitting an animal as they know they will incur the wrath of society.
If a person could hit a dog and not stop to check, likely he may do the same to a human. If one cares enough to render assistant even to an animal, likely he will do the same for a human.
We need to voice out - as it is a sense of justice and living by our conscience. Every little individual effort does matter in promoting a better society and environment.
Subscribe to:
Posts (Atom)
