GDP: An Imperfect Measure of Progress

GDP: An Imperfect Measure of Progress
By the Editors Jan 31, 2013 7:30 AM GMT+0800
Q
Which is better for a country’s well-being: $10 million spent constructing a jail, or $10 million spent producing a line of smartphones? How about clear- cutting rain forests to produce $10 million in lumber? Or a storm that requires $10 million in repairs?

Why It Makes Sense To Buy Gold

Why It Makes Sense To Buy Gold
by Ritesh Jain
Gold is the most under-invested asset but it still makes sense to buy it
“The desire for gold is not for gold. It is for the means of freedom and benefit.” These words by Ralph Waldo Emerson sum up the reason why the yellow metal continues to hold favour among investors across the globe. While retail investors seek freedom from inflation, large buyers (read Central banks, hedge funds) seek freedom from currency devaluation. In this era of Quantitative Easing (QE) and artificial monetary support, markets are rewarding gold for its sheer quality of maintaining purchasing power. If one cuts off the incessant money printing across the globe, gold would be reduced to a worthless asset in the end. To put it simply, it is not the value of gold that is going up, but the value of currencies that is coming down.

Lawyers ordered to dig into S'pore history: Hougang by-election case

Lawyers ordered to dig into S'pore history: Hougang by-election case
Straits Times; 15 Jan 2013; Goh Chin Lian
Legislation in 1963 may shed more light on by-elections: Court of Appeal
THE Hougang by-election case is now before the Court of Appeal, which yesterday ordered lawyers on both sides to dig into Singapore's legislative history in 1963 to shed more light on the law and the calling of by-elections.

Singapore Government, Money printing, 1989-2011.

GamerSg wrote:

Please lah, the CPI stats is produced by the very ppl who cause inflation. You must be damn naive to believe the inflation figures.

Its a open secret that CPI is many times lower than real inflation. You want real inflation figures, go MAS website, see M1 money supply since 2000. In last 12 years, SGD has lost 75% of value.

Taxman claws back $3.2m from doctors after checks

 Taxman claws back $3.2m from doctors after checks
Straits Times: 06 Jan 2013: Theresa Tan
Audits show that most doctors made errors in tax claims, and some meant to cheat
A doctor under-declared his income by $1.6 million over a six- year period and claimed that various family members were highly paid staff at his clinic.

Try COE-style bidding for productivity boost

The Straits Times; Published on Dec 07, 2012
FOREIGN LABOUR
Try COE-style bidding for productivity boost
THE current system of a fixed percentage quota with an algorithm of escalating tax levies does not promote competition and the efficient use of scarce manpower ("Forum gathers public views on next year's Budget"; last Friday).

Talking point the vote: 'IS YOUR CPF ENOUGH?'

Appalled by clinic's charges

The Straits Times; Published on Dec 04, 2012
Appalled by clinic's charges
RECENTLY, I fell and suffered a small cut at the arch of my foot. The wound was promptly dressed, but there was still some bleeding the next day.

[Aug2010]: It's final - SMA's medical fee guidelines anti-competitive

It's final - SMA's medical fee guidelines anti-competitive
By Claire Huang | Posted: 19 August 2010 1323 hrs
 http://www.channelnewsasia.com/stories/singaporelocalnews/view/1075966/1/.html
SINGAPORE: The tussle between the Singapore Medical Association (SMA) and Competition Commission of Singapore on guidelines on doctors' fees has finally ended.
After an 18-month review, the Commission concluded that the Guidelines On Fees set by the SMA are anti-competitive.

No true democracy with US Electoral College system

The Straits Times, Published on Nov 06, 2012
No true democracy with US Electoral College system
TODAY'S presidential election in the United States raises the question of whether the country is really a democracy with the Electoral College system.
Does every vote count?

Regulating tightly 'not always feasible'

News: The Straits Times - 8 October 2012
Regulating tightly 'not always feasible'
by Elgin Toh
THE desire to regulate banks more tightly in the aftermath of the global financial crisis is understandable but not always practicable, Prime Minister Lee Hsien Loong said last night.

Facebook comment confirms "deep fault lines" in S'pore society: K Shanmugam

Facebook comment confirms "deep fault lines" in S'pore society: K Shanmugam
Updated 06:11 PM Oct 08, 2012
SINGAPORE - Ex-NTUC staff Amy Cheong's Facebook comments have confirmed that there are "deep fault lines" based on race/religion in Singapore society, said Foreign Affairs and Law Minister K Shanmugam today.

AGC seeks legal costs against resident in Hougang by-election case

AGC seeks legal costs against resident in Hougang by-election case
by Kimberly Spykerman Updated 10:11 PM Oct 08, 2012
SINGAPORE - The Attorney General's Chambers (AGC) is seeking legal costs against Vellama Marie Muthu, the Hougang resident who sought to have the High Court declare that the Prime Minister does not have "unfettered discretion" over whether and when to call a by-election.
The AGC is represented by Senior Counsel David Cheong, while Madam Vellama is represented by Mr M Ravi.

Whose future is it anyway?

Whose future is it anyway? [alt link (original)]
By BRYAN R. LAWRENCE
The Washington Post
To fix Medicare and Social Security, look to Singapore
NEW YORK — Singapore's paternalistic government is unappealing to many Americans — media restrictions, one-party rule, harsh penalties for gum-chewing.
But Singapore's retirement system is a model of honesty and transparency compared with U.S. Medicare and Social Security.

Carrot Olympics, Singapore re-writes record for most money paid per medal.

Singapore tops world in Olympic gold medal cash payout
By Elizabeth Soh | Fit To Post Sports – Sun, Aug 5, 2012 7:46 PM SGT
Feng's bronze medal will earn her S$250,000 under the MAP scheme. (Reuters photo)
If there's a medal for the highest cash payout for winning an Olympic gold, Singapore would top the charts.
According to a story by broadcaster CNBC, it said Italy was the most generous with a S$225,000 (USD 182,400) payout for gold, followed by Russia with S$167,000.
France rounded up the top 3 with an S$80,000 payout.
In contrast, US gold medal winners only pocket $31,000 for gold, S$18,000 for silver and S$12,000 for bronze.

Cycling without rules - or protection - in Singapore

The Straits Times; Published on Aug 01, 2012
Cycling without rules - or protection - in Singapore 
THE column ("True kings of the road"; July 15) may reinforce the stereotype of unruly cyclist who obeys no road rules.

HOLDING EXTERNAL AUDITORS ACCOUNTABLE (2 letters)

The Straits Times; Published on Jul 23, 2012
HOLDING EXTERNAL AUDITORS ACCOUNTABLE
Action will be taken if...
MR YEOW Hwee Ming asked if external auditors are taken to task in investigations into fraud or financial malfeasance ('Fraud: Hold external auditors accountable'; last Thursday).

Without discretion, can there be equity, justice in law?

Without discretion, can there be equity, justice in law?
Updated 08:44 AM Jun 27, 2012
From Dudley Au
I refer to the letter "Shore up judicial discretion in sentencing" (June 19). There are two considerations in evaluating the exercise of discretion. One is equity.

Shore up judicial discretion in sentencing

Shore up judicial discretion in sentencing
04:45 AM Jun 19, 2012; From Winston Chew Choon Teck
I support Member of Parliament Hri Kumar Nair's call, "Judges should have more flexibility: MP" (June 16), although the issue of sentencing is a complex one, involving various considerations.
While our judges have discretion in sentencing, this is circumscribed by existing precedents, guidelines and legal principles. A judge who fails to observe these would be in dereliction of his duties, with consequences to his career.

Judges should have more flexibility: MP

Judges should have more flexibility: MP
Allow option of suspending driving licences of those who get others to take the rap for traffic offences, says Hri Kumar; Updated 04:45 AM Jun 16, 2012
by Teo Xuanwei
SINGAPORE - Admitting he was "surprised" by the S$1,000 fine imposed on well-known plastic surgeon Woffles Wu, Member of Parliament Hri Kumar Nair has argued for "more flexibility in sentencing so that the punishment truly fits the crime".

USD/Euro 'Rating downgrade - beginning of the end, hyperinflation next'

USD/Euro 'Rating downgrade - beginning of the end, hyperinflation next' [alt link]

- comments?

[CPF Min Sum] Govt can't have it both ways

The Straits Times, Published on Jun 23, 2012
CALIBRATING INFLATION FOR CPF MINIMUM SUM
Govt can't have it both ways 
IT IS difficult to understand how the Ministry of Manpower's reply ('Increase doesn't fully reflect total inflation'; June 15) addresses the point made by Mr Young Pak Nang ('CPF Minimum Sum should reflect 'true' inflation'; June 8).

[CPF] Increase doesn't fully reflect total inflation

The Straits Times, Published on Jun 15, 2012
CPF MINIMUM SUM
Increase doesn't fully reflect total inflation
MR YOUNG Pak Nang inquired about the use of the headline consumer price index inflation rate to adjust the Central Provident Fund Minimum Sum ('CPF Minimum Sum should reflect 'true' inflation'; last Friday).
As he noted, increases in imputed housing rentals on owner-occupied homes and certificate of entitlement prices for private cars contributed to higher-than-normal headline consumer price index inflation last year.
For the majority of retirees, these are not items that would lead to increased cash expenditures.

CPF Minimum Sum should reflect 'true' inflation

The Straits Times, Published on Jun 8, 2012
 CPF Minimum Sum should reflect 'true' inflation
 THE report ('CPF Minimum Sum to be raised'; May 31) stated that the Government has decided to raise the Central Provident Fund (CPF) Minimum Sum from $131,000 to $139,000 from July, instead of $143,000.