Saturday, March 6, 2010
Petition - Employ Singaporeans First
Dear Friends,
Do support my petition to "Employ Singaporeans First" -
Due to the recent high influx of foreigners, many of our own people are been sidelined by employers. Many new graduates are also jobless now as they have to compete with thousands of foreigners for jobs.
Our people are also not protected by any minimum wage policy here and their salaries have being pressed down by cheaper foreigner imports. Employers are kings now as they have a host of choices now whenever they advertise for positions. Many who apply for jobs are foreigners.
This petition urges all employers in Singapore to consider employing Singaporeans FIRST despite the slightly higher cost and their older age. If not, we will see ourselves being over-run by foreigners in time to come.
If you support this cause, do sign on the peition so that we can rally together and bring hope to those who are jobless and struggling. Do also spread this cause to your friends for active participation! We need to send the right message out to our government!
Singapore for Singaporeans!
Gilbert Goh
Possible security fraud - Toyota and Countrywide
The US firm Kirby McInerney is investigating possible securities fraud cases against Toyota (TM) involving the decline in its common stock price following recalls related to brake problems, and Countrywide (CFC) involving the sale of certain mortgage backed securities (MBS) issued by it.
If you purchased a large amount of stock in Toyota or MBS issued by Countrywide, then you may wish to contact the firm to find out more. You may email a partner at the firm Daniel Hume, who I have met, at dhume@kmllp.com.
Tan Kin Lian
If you purchased a large amount of stock in Toyota or MBS issued by Countrywide, then you may wish to contact the firm to find out more. You may email a partner at the firm Daniel Hume, who I have met, at dhume@kmllp.com.
Tan Kin Lian
Dementia (also called senility)
Dementia is a word for a group of symptoms caused by disorders that affect the brain. It is not a specific disease.
People with dementia may not be able to think well enough to do normal activities, such as getting dressed or eating. They may lose their ability to solve problems or control their emotions. Their personalities may change. They may become agitated or see things that are not there.
Memory loss is a common symptom of dementia. However, memory loss by itself does not mean you have dementia. People with dementia have serious problems with two or more brain functions, such as memory and language.
Many different diseases can cause dementia, including Alzheimer's disease and stroke. Drugs are available to treat some of these diseases. While these drugs cannot cure dementia or repair brain damage, they may improve symptoms or slow down the disease.
Many people say that the best way to prevent dementia is to exercise your mind regularly, with games such as Sudoku or other puzzles. I have written puzzle books, which contain tips on how to solve these puzzles. After you learn the technique, you can go through the puzzles as a form of daily exercise.
You can view free copies of these puzzles here. For our seniors, you should invest time and a few dollar to keep dementia away.
Challenging Sudoku
I have published 2 volumes of my book containing challenging Sudoku puzzles. They are published for the Sudoku experts and have similar level of difficulty as the puzzles published in Weekend Today and in The Sunday Times. I enjoy working on these weekend puzzles - as a test of my mental agility.
I also work on the puzzles in my Sudoku books. If I am alert or lucky, I can complete a puzzle within 5 minutes. Sometimes, I take 10 minutes, if I get stuck. I write down the time taken to solve each puzzle in the book. I am also able to check the solution at the back of the book, although this is usually not necessary.
You can order Challenging Sudoku here. You can develop your own skill in solving difficult puzzles through practice. You can also buy this book as a gift to a friend or a relative who is hooked on Sudoku. The pocket book version (suitable to play in the train, bus and plane) is called Logic9.
I also work on the puzzles in my Sudoku books. If I am alert or lucky, I can complete a puzzle within 5 minutes. Sometimes, I take 10 minutes, if I get stuck. I write down the time taken to solve each puzzle in the book. I am also able to check the solution at the back of the book, although this is usually not necessary.
You can order Challenging Sudoku here. You can develop your own skill in solving difficult puzzles through practice. You can also buy this book as a gift to a friend or a relative who is hooked on Sudoku. The pocket book version (suitable to play in the train, bus and plane) is called Logic9.
Affordable housing
What is "affordable housing"? The minister for national development said in Parliament that new HDB flats are still affordable and has produced studies to prove his point. Critics have brought up arguments from the other side to show that HDB flats are expensive for the working people. I shall be writing to give my views of this point within the next few days.
In the meantime, I invite you to share your comments.
In the meantime, I invite you to share your comments.
Productivity and related issues
Singapore is now embarking on a strategic thrust to improve productivity and reduce reliance on low cost foreign workers. A few people has asked, "What is productivity? How do we measure it?"
In its simplest form, productivity means to do a given quantity of work in less time, or to do more work in a given time. in both cases while maintaining the same quality of work.
We need to go to the next level and define, "If workers are more productive, should they earn more for their time and how much of the gain should go to the worker?". To answer this question, we have to recognize that the productivity comes from all factors of production - labor, capital, entrepreneurship and property. If the labor content is say 50%, then it is fair that 50% of the productivity gain should go to the workers.
We have to address another social question. If the productivity increases 100% and one worker can do the work previously done by two workers, who will provide the work for the displaced worker? The classic answer is "leave it to the free market". The displaced worker can find other suitable jobs in the market.
But this classic answer has proved to be false. During the past decade, the global economy was able to provide a lot of good paying jobs in the financial services sector, especially in creating "innovative" products. These innovative products are used to create bubbles in real estate, stock market, foreign exchange market and in other forms of financial speculation. The bubbles have deflated during the past two years, causing massive loss of jobs. While new bubbles can be created in other markets, history has shown that they will eventually lead to disaster. In the meantime, many countries will find it difficult to create new jobs in the real economy. This is why many economists hold the view that the recession in America will take a long time to recover.
Here is my perspective. Each person needs only a certain amount of goods and services. The global demand will be limited by the population size and the time available to enjoy the goods that have been produced. If people are working too hard, they do not have the time to enjoy the products, while unemployed people do not have the income to spend on these products. This is why the disparity of income in the past two decades have brought disaster to the global economy.
The answer to higher productivity is straight forward. With improved productivity, we should reduce the hours of work for each working person so that the total demand and necessary work is shared fairly by all available workers.This could mean a 35 or 30 hour week. The incomes do not need to be equal, but the disparity should not be so wide.
Tan Kin Lian
In its simplest form, productivity means to do a given quantity of work in less time, or to do more work in a given time. in both cases while maintaining the same quality of work.
We need to go to the next level and define, "If workers are more productive, should they earn more for their time and how much of the gain should go to the worker?". To answer this question, we have to recognize that the productivity comes from all factors of production - labor, capital, entrepreneurship and property. If the labor content is say 50%, then it is fair that 50% of the productivity gain should go to the workers.
We have to address another social question. If the productivity increases 100% and one worker can do the work previously done by two workers, who will provide the work for the displaced worker? The classic answer is "leave it to the free market". The displaced worker can find other suitable jobs in the market.
But this classic answer has proved to be false. During the past decade, the global economy was able to provide a lot of good paying jobs in the financial services sector, especially in creating "innovative" products. These innovative products are used to create bubbles in real estate, stock market, foreign exchange market and in other forms of financial speculation. The bubbles have deflated during the past two years, causing massive loss of jobs. While new bubbles can be created in other markets, history has shown that they will eventually lead to disaster. In the meantime, many countries will find it difficult to create new jobs in the real economy. This is why many economists hold the view that the recession in America will take a long time to recover.
Here is my perspective. Each person needs only a certain amount of goods and services. The global demand will be limited by the population size and the time available to enjoy the goods that have been produced. If people are working too hard, they do not have the time to enjoy the products, while unemployed people do not have the income to spend on these products. This is why the disparity of income in the past two decades have brought disaster to the global economy.
The answer to higher productivity is straight forward. With improved productivity, we should reduce the hours of work for each working person so that the total demand and necessary work is shared fairly by all available workers.This could mean a 35 or 30 hour week. The incomes do not need to be equal, but the disparity should not be so wide.
Tan Kin Lian
Buying a life annuity for a parent
Dear Mr Tan,
My father is going 58 and has only $30,000 in his retirement account. I was thinking of helping him to purchase either the NTUC Income Classic Annuity or the Growth Plan.
Since both plans require a SRS account, I thought of buying a Growth Plan for my Dad using his retirement account to earn a get a greater return, by registering with one of the SRS operators and subsequently use this SRS account of $29K to buy Growth Plan.
Can I do that? I am not sure because I understand that there is a so called minimum sum required in RA and RA cannot be used to buy anything except annuity.
REPLY
The money in the CPF Special Account (or Retirement Account) now earns interest at 4% plus a bonus. The return from the Growth plan is likely to be 3% or less. The agent who made this recommendation is probably giving bad advice, either intentionally or by mistake.
Please ask the agent to give you a benefit illustration for the Growth plan and send it to me at kinlian@gmail.com.
It is better for you to help your father by topping up his CPF Special Account. You will enjoy tax savings on the contribution and allow him to earn a higher rate of return of 4%. When he reach age 62, it is better for your father to buy the CPF Life, instead of a life annuity from an insurance company.
You can read a chapter on life annuity and CPF Life from my book, Practical Guide on Financial Planning, which can be ordered here:
My father is going 58 and has only $30,000 in his retirement account. I was thinking of helping him to purchase either the NTUC Income Classic Annuity or the Growth Plan.
Since both plans require a SRS account, I thought of buying a Growth Plan for my Dad using his retirement account to earn a get a greater return, by registering with one of the SRS operators and subsequently use this SRS account of $29K to buy Growth Plan.
Can I do that? I am not sure because I understand that there is a so called minimum sum required in RA and RA cannot be used to buy anything except annuity.
REPLY
The money in the CPF Special Account (or Retirement Account) now earns interest at 4% plus a bonus. The return from the Growth plan is likely to be 3% or less. The agent who made this recommendation is probably giving bad advice, either intentionally or by mistake.
Please ask the agent to give you a benefit illustration for the Growth plan and send it to me at kinlian@gmail.com.
It is better for you to help your father by topping up his CPF Special Account. You will enjoy tax savings on the contribution and allow him to earn a higher rate of return of 4%. When he reach age 62, it is better for your father to buy the CPF Life, instead of a life annuity from an insurance company.
You can read a chapter on life annuity and CPF Life from my book, Practical Guide on Financial Planning, which can be ordered here:
Robert Kennedy on GDP
Robert Kennedy was assassinated in 1968 while running for nomination as the US President. Someone sent to me the following quotation (which I am not able to verify) from him about GNP:
QUOTE
... Gross National Product counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts special locks for our doors and the jails for the people who break them. It counts the destruction of the redwood and the loss of our natural wonder in chaotic sprawl. It counts napalm and counts nuclear warheads and armored cars for the police to fight the riots in our cities. It counts Whitman's rifle and Speck's knife, and the television programs which glorify violence in order to sell toys to our children.
Yet the gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country, it measures everything in short, except that which makes life worthwhile.
UNQUOTE
In our drive to increase the GDP of Singapore, we may be making the same mistake mentioned by Robert Kennedy, that we are degrading the quality of life for the people.
Tan Kin Lian
QUOTE
... Gross National Product counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts special locks for our doors and the jails for the people who break them. It counts the destruction of the redwood and the loss of our natural wonder in chaotic sprawl. It counts napalm and counts nuclear warheads and armored cars for the police to fight the riots in our cities. It counts Whitman's rifle and Speck's knife, and the television programs which glorify violence in order to sell toys to our children.
Yet the gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country, it measures everything in short, except that which makes life worthwhile.
UNQUOTE
In our drive to increase the GDP of Singapore, we may be making the same mistake mentioned by Robert Kennedy, that we are degrading the quality of life for the people.
Tan Kin Lian
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