End inflationary policies now

Sorry but I cannot support a minimum wage. Australia, HK, Norway and the US (frequently quoted as having minimum wage) are either exporters or points of export of rare earth, energy, or other natural resources which are highly inflationary in nature. The taxes and profits from these exports allow for a minimum wage to be set. Singapore does not have any natural resources which we can obtain at zero cost.

Instead, I favor fighting inflation. Deflation is not a dirty word. It all depends on how you measure growth. Inflation is a misnomer. It is actually the devaluation of each dollar you earn, such that over time, you can buy fewer goods. Poor people are created by inflation, not "low" wages. Remember, that once upon a time, $1000 a month was enough to comfortably raise a family. Inflation ended all that. A minimum wage will not solve this problem.

What we need are minimum skills and technological investments. Human beings are tool builders. On our own, we pretty much suck. We aren't the fastest, strongest, or most agile creatures, but we can make cars, forklifts, bicycles, pulleys, ropes, etc.

Singapore can never get to the tool-builder stage as long as the focus is on inflationary policies designed to suck the life out of the population via rent seeking activities. The capital is malinvested in more real-estate instead of skills training and technological innovation. We need an alternative policy that looks at how to arrive at an inflation rate of zero.

If we fought inflation, we would be able to purchase equal or more goods each day. Consider the tech industry. Each year, you can buy a faster computer at a lower price. Some of the best paid workers are in this industry. There is no need for a minimum wage in the Silicon Valley. As long as we are doing productive things, we can do a lot more with a lot less.

When deflation kicks in, the people who would benefit most are the savers. Currently, inflation destroys our purchasing power, so we are forced to spend and take risks (invest) today, instead of saving for our less-productive old age. Let's turn this problem around. Yes, we can!

End the madness of inflation. So what if our houses become cheaper tomorrow? Does that matter? Wouldn't you be happy your kids can afford a home?

We can easily cut inflation by reducing the number of people on the island. The larger the population (citizenship is irrelevant, just talking numbers here), the higher the demand for limited goods and services (see para 1, Singapore does NOT have natural resources). This creates an environment where only the rich and connected (cronies) gain access to resources while the rest of us suffer playing catch-up. When the malinvestments fail, the risk-takers get a bailout, subsidy, grant, or M&A deal while the rest of us are told to foot the bill. Adding insult to injury, if we so much as miss a payment, the lights go out on our homes. A minimum wage cannot stop the electric company from switching off the lights as energy gets more expensive.

The answer is not a minimum wage, but a maximum inflation rate of zero. That's right. Write a law where if inflation goes over zero percent for any given year, all MPs and Ministers take a pay cut equivalent to the inflation rate compounded throughout each term they are in office. If this becomes law, I promise you we will see an end to the madness of inflationary policies and the "worst-case" of 6.9 million population (doesn't matter if they're foreign or local, too many people = inflation).

We always say Singapore has no natural resources and the only resource we have is our people. Let us start walking the talk. Invest in people, not buildings. Invest in skills, not numbers. Invest in tech, not false economies. We can turn this around, but not with a minimum wage.

It only takes a spark

Sometimes it feels like we live in a broken nation. Nothing seems to work. We've lost that sense of who we are. Our leaders appear lost and unconvincing. Our social ties breaking at the seams. Yet when two precious lives were lost, our people came together.

No one said NIMBY. No angry Facebook posts about light pollution. We just lit candles and shared a moment of silence to remember who we are, and what we've lost. How much we treasure each other.

This picture gave me a glimpse of what Singapore could be. That even in our darkest moments, hope is kindled. Don't give up. Not yet. #fixsingapore

6.9 million reasons to invest in our future

Do you know that the average boss in a corporation today has fewer assistants despite having more responsibilities? There used to be office boys sending letters and coffee, and two to three personal assistants following a boss around. We don't have that anymore.

This is because of improvements in education and technology, so we no longer need someone other than the boss to draft a letter, record notes, and constantly plan and manage the boss' diary. A lot of the work in the workplace is self-driven.

If we invested in training our people and building new technology, would we still need the same number of foreign workers to support our economy in 2030? Why do we keep spending on low productivity foreign workers who have no ownership or future here, when we can invest in our own land. This is OUR land.

Let's try to find a solution instead of this show of closed-mindedness from both sides. We care for our future, so let's build the one which works for us, not the hell we currently live in.

Beware the empty promises of government

The failure of planners will inevitably end up with the planners empowering a dictator to make the failed plan work. It is a race to the bottom as the party takes over the country demanding absolute obedience. 

I fear not who occupies the PM's overpowered seat today, but the one who will succeed him. He will be unopposed, demanding obedience as a necessity. All freedom will be lost. People will be forced into jobs they are not suited to, creating inferior products and services, and structural unemployment (may already have happened).

There is one thing that prevents this from being completely irreversible today, something Hayek did not see coming: Social Media. 

But the powers that be in government and the UN are working hard to weaken and stifle this medium. They want the free flow of information controlled. They will claim it to be for your own safety, your children's safety that they protect you from the dangerous gay and child porn on the internet. They will tell you they're protecting you from the radical elements of Islam or any other boogeyman they can conjure up. 

But we know how government works. Surely by now we're wise enough to see they can't even keep a limping man in a sarong secure. They cannot keep their loose lips from spouting rubbish. What makes you think they can protect you and your family?

Will keeping you uninformed and helpless strengthen you or strengthen the dictator? You decide. We don't have much time. The road has been paved with good intentions, and all we need to do is walk on it.

Watch Hayek's 'The Road to Serfdom' in Five Minutes

Save nothing for the swim back

In the spirit of the Olympics and National Day, I hope this inspires you as it inspired me all those years ago. Pursue your dreams, fight for them, or drown in regret. You may be born with less than others, but there is no gene for the human spirit.

Pastamania: No outside food allowed, even for babies

I was shocked to learn that Pastamania does not allow 1 year-old babies to eat their own specially prepared food while the mother and myself patronized the Bugis outlet. The baby's mother was told that "No outside food allowed" applied even to babies. 

The staff told us that she was afraid of her boss coming in and seeing a baby eating its own food. She made it seem like she was doing us a favor by "closing one eye" as long as her boss was not around. What kind of bosses are they hiring to strike such fear in the staff that they would rather threaten the well-being of a baby?

Later, she even suggested that we order from the menu for the baby. Are they aware that adult food is unsuitable for babies?

Lets follow the logic here. 

"No outside food allowed" is to ensure that patrons eat your food and generate revenue. Simple concept which I agree with. 

We were in an empty restaurant with only two tables occupied. We (adults) were going to generate revenue by buying their food, while feeding the baby to keep her quiet, at no additional cost to Pastamania. Instead, Pastamania chose to uphold its policy blindly, and LOSE revenue in the process. 

My contribution to the legend

When Siri is trying to find something, it asks Chuck Norris.