We've all had that feeling. 
We've had that brain wave. We've thought of something great.
Yea! It's going to be the next big thing. 
We think about how to do this business idea. 
We keep it secret and make calls and be all mysterious about what we are planning to do.
We don't tell anyone for fear of someone stealing the idea.

I'm sure many of us have experienced something like the above.
What if someone found out about my idea and ran with it and made money off it.

​Well wake up call, your idea is worthless and no one is going to steal it.
Below is a quote from Paul Graham. If you don't know who he is see the wiki link below as well.

Ideas are worth nothing. Really.
Execution and luck are worth a whole lot more.

How many people do you know have had an idea, told you a small bit about it but didn't tell the whole thing, he thinks it's the next big thing, but doesn't share the idea cos he was scared you or his friends would steal the idea, then he actually started the idea.
Not that many I think.
The fact is, many people don't really start businesses or start ups or steal ideas.
People whom you talk to would probably give suggestions, or shoot your idea down, or say, if you start I want to invest, but I think not many people would bother to steal the idea and do it himself.
People are generally lazy, not that they don't go to work. Not in that sense of laziness.
But rather like, if they are unhappy with their work, they usually just complain and grumble, they don't quit and find something else, or find something else and quit. Most people don't do something about it. 

So really, telling someone won't do anything to your idea. The majority of people will just take it as coffeeshop talk. Just to chit-chat and contemplate on the idea itself.

Next is, why is your idea worthless? Cos it's just an idea. 
An idea is all talk. Wait til you try to get it done. You need to spend money, or talk to the right people or network with the right people or find suppliers and find customers and hire people and manage staff and handle customer complaints and all that stuff. 
Maybe after you set up something, like develop an app, or renovate that shop space and buy equipment and tables and chairs. Ok then you're on to something.
And that's not all the challenges. Next you've got to market it. 
People need to know you are selling what you are selling. 
Sounds easy right? People have recommended that I sell stuff on Qoo10, advertise on FB, Google.
Well, I have. And most of the time, listing on Qoo10 or any other site or advertising avenue, you just get drowned in all the other adverts. There are so many other sites doing similar things that more often than not, you are just a drop in the ocean. So a lot of time, a lot of effort needs to be put on marketing. A lot, I mean A LOT of money needs to be spent on advertising and all that. 
Then you need to make sure your product is good, or your food is nice to eat, and your staff is happy to work and doesn't spit in the food that they prepare and all that. 

So yes. Having an idea sounds really cool and it's fun to talk and discuss this over coffee with your friends. But really, starting an idea isn't as easy as it sounds. You really need to know the right buttons to press and make a lot of mistakes along the way and most people don't even get started.
So if most people don't even get started, who is going to steal your idea? 
Did you think that your friend is going to quit his job to build that app you were thinking of? I doubt it.
And even if he did steal your idea, they would likely execute it differently from you. Considering that YOU actually started in the first place. Which you might not anyway. But hey, if your friend starts it first you now have the perfect excuse not to do it anymore.
And execution is worth everything. Hiring the right guy, renting the right place, marketing the right way, targeting the right people/demographics, etc. There's a lot of do and think about.

Think about Uber. They are one of the first who started. In Singapore, they are getting a good challenge from Grab. Didi won Uber in China. So even if you are the first, doesn't mean you will win, if you are second you may do well if you know your market better and execute it better.

So really...
Why is your idea worthless?
Cos ideas are usually all talk. When it's time to execute, more often than not, people don't even start. And even if they start, there are so many things which needs to be thought about and so many things that can go wrong.
Why no one is going to steal your idea?
Cos ideas are usually all talk. When it's time to execute, more often than not, people don't even start. And even if they start, there are so many things which needs to be thought about and so many things that can go wrong, and their execution will be different from you even IF they start, which they WON'T.

So yea. Share your ideas, your friends may even be able to help you introduce you to the right people along the way. That's IF you even start on your own idea that is.



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You know. These days everything is so convenient. That's the point. They make it convenient so that you spend money without even thinking about it. Sometimes, you don't even feel like you are spending money at all. It even appears free!?

Here are 8 habits which you didn't know that would impact your retirement plans.

1) Uber / Grab
It's so easy these days to call an Uber/Grab. 
Taxi's are so yesterday. They are also more expensive with grumpy drivers.
Introducing Uber/Grab. These ride sharing apps are usually used by the younger crowd and similarly younger drivers. You input your credit card details in the app, and Uber/Grab gives promos to incentivize you to make it a habit to ride. If you get your days and promos right, the ride could even be free. Cool right? But this easily becomes a money draining habit if you aren't careful. Since people are now so used to having the app and using it for promos, what do people do when they need a cab but there's no promo code? Well, they just call an Uber. It's cheaper than conventional taxis. It's convenient. The ride comes, I get in, the driver brings me to whatever destination, and I get off. I don't need to take out my credit card or cash or whatever. This gives the illusion that it's "free". How many people really check line by line what is in their credit card statements?

2) Starbucks or your regular coffee joint
Starbucks is convenient as well. It's found everywhere. That's also the point. It's so easy to find it. It's comfortable in hot Singapore with air conditioning. Worst of all, it becomes a habit. You see, once things become a habit, they become almost invisible in your life. So you get off the train or you get out of your car, you drop by the Starbucks on your way to office. The barista knows what you usually order and you hardly need to say a word and you get your coffee and make your way to office, or you drink it at the outlet. All these make you come back. The convenience of the Starbucks being located at the right place. The barista knowing your name makes you feel at "home" or a comfortable place so you tend to come back. After lunch, it happens again. You drop by the Starbucks to get your caffine fix before you start work again. The cheapest coffee in Starbucks is SGD3.70. This is the today's brew. The usual lattes cost something like SGD5 and above. That's equal to the cost of a meal at the hawker center or food court.

3) Smoking
Of course this is on the list. I don't smoke. But there are a number of people who do. 
Cigarettes are now what? SGD9 per pack of 10 sticks? Something like that I think. 
Why don't you just take a ten dollar bill out every day and burn that. It's healthier for you and it saves you more money in the long term. Cos you probably are going to pay a lot more for insurance policies and medical bills in the later years of your life. 
Do I even need to elaborate on this point? 
Even smokers know that it wastes money and is bad for their health. See why I keep talking about habits. They are hard to break.

4) Eating out expensively
Ever since I moved out to my own place, it's so easy to just feel like eating something nice. Previously, my mother cooked so we just went home everyday without thinking to eat. Now, I usually cook some nice healthy food, low salt, no MSG, less oil food. Every once in a while, we would decide to eat out, cos my cooking is kinda bland (intentionally). So after I pick up my wife, we discuss what to eat. This could range between restaurants, jap food, steak, hawker, food court, fast food, etc. We initially ate at restaurants. Then I realized, before it became a habit, how easy it is to just keep eating nice food at a comfortable location. After a few times, we decided that this was not the way to go. We fixed our meals at hawkers centers, food courts, maybe fast food on weekdays and special food only on weekends. We realized that cos we were living by ourselves, it was so easy to just go out and eat anything, and why eat at hawker centers when you can eat at air conditioned outlets serving premium food. So the cost of our premium food was SGD20 per pax, and after the change to simplier fare, we spend SGD5 per pax at hawker centers or SGD7+ at fast food outlets. 

5) MacDonalds
This is not the same as the above. 
With Monopoly game, people now may give themselves the excuse that they might as well eat at Macs, since they are going to eat anyway right? Might as well have a chance at winning that car. I know people who eat it 3 times a week. It's convenient. You can call delivery. Not much mess, you just eat and throw away the rubbish. And best of all, you can win a car, or gold or a cruise. Well... same point. Once it becomes a habit, you won't notice where all the money is going. The Monopoly game is for what? 2 months or so? That's just the amount of time needed to create a habit. So maybe you might be eating Macs on weekends regularly now cos it's convenient and fun. Or you might decide to drop by the Macs on the way home since you gotta eat anyway right. Guess what happens in January when the promotion is over? Your body will get used to the flavours and crave for it. You may now WANT to go to Macs more regularly than before the promotion.

6) Comparing with others
Come on. I've discussed this yesterday. You friend buys an LV bag, you buy a Celine bag to out do her. Hell, she think's you're dumb cos she bought a fake one for SGD50. She was just doing it to make you spend money to see you broke every month. Then she goes to posh jappy restaurants and posts nice pictures on Facebook and you wonder how is she able to buy the LV bag AND still go to cool places to eat and you admire someone like her. No. Really. I know people who buy fake stuff and laugh at people buying real stuff. Or your colleague buys a BMW and challenges you to buy something similar. So you go and get a Mercedes, then you realize that was his rich uncle's BMW which he borrowed when the uncle was overseas. Seriously, stop comparing with the people around you. You'll be happier and more often than not, richer as well.

​7) Having expensive hobbies
Now hobbies are always fun. And everyone should have some hobbies. But there are some hobbies that are ridiculously expensive with little or no return. Open sea fishing might be one of them. I'm not too familiar with the costs of fishing, but considering a more hardcore fisher might buy fishing gear up into the thousands of dollars and go on fishing trips of SGD500 or more, it makes me wonder why people would want to spend that kind of money. Sure it's not for the fish but the fun of fishing. But seriously? A few thousands might be kinda on the steep side. I doubt they would be going on fishing trips every week right? So I would think that a hobby which could be done more regularly would be more fun.
Collecting watches is considered an expensive hobby but some people have made money out of it so I'll not say anything about that.
Being interested in new technology. I know people who like the fun of having the latest gadgets. Like really, they just love to have it just for the fun of it. The new Mac laptop, the new iPhone, they even have solar panels which they can plug a USB connector to charge their phones on solar energy. Then they get funky new keyboards, and gaming mouse. The whole works. You do realize that technology is changing very fast right? These things would be obsolete in like a year or so. Then you'll have to buy new stuff. But then again, I suppose that's the fun of it. The good excuse that your existing item is now old and needs replacement. It's a good way to tell yourself that you need to buy a new one. 

8) Sending your kids to the latest classes
Ok I'm not a parent. I know many parents who send their kids to the latest enrichment classes. I understand the logic behind it. Parents I've spoken with tell me this, "Look I don't want a time in the future IF my kid is unsuccessful, and I think back and wonder if I could have done more to have changed his outcome. I would rather send him to all these classes now, since I can afford it, so that in future, if he is successful or not, I will know that I have done my best in providing the foundation for him."
Ok so I understand the logic behind it. And yet, my other readings tell me that IF I have kids, I don't need to do all these. 
Like, if you put a gifted kid in an average class, the gifted kid just... well... becomes average.
Or, if you put an average kid in a gifted class, the kid will become above average. The kid might perform worse than all the gifted kids, but the kid will still be better off than the other average kids. 
So the enviroment of the kid is very important (it's just as important for adults as well). So, likely, I'll focus on getting my kid into the right school. I'll also teach my kid skills, like financial planning, cycling, swimming. He will learn to count, read and write in due course. But most importantly, I feel, if I ever have a kid, is that I will let him play. Many articles on the importance of playing, here and here. 
And you know what upsets me a lot. Is when I see adults teaching children how to play. 

So there you have it, 8 habits which will hinder your retirement plans. 
Don't think they add up to much? Then read my previous post on it all adds up.
If you can think of stuff which create unexpected expenses leave your comments below.



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You know, ever since we are young, in Singapore, we are put into this system. 
Your school mate does better than you in Science in Primary school.
Your friend does better than you in Math, someone else does better than you in English. 
Someone runs faster than you, etc etc. The list goes on.

Then you proceed to secondary school, and the cycle is the same. Someone is better in Physics, Chemistry, Literature, etc. 
Then comes Junior College or Polytechnic, then University.

It's so easy for parents to say, so and so did this, and you did not. How come he's better than you?
Or so and so got this for his Physics, why didn't you get better?
So I wonder... IF parents never compared their children with other kids, would kids grow up comparing with each other when they become adults? I think the answer is still yes. Cos to be jealous is to be human.

So what system are we stuck in? Well, it's simple. A quantitative comparison system.
People compare what is easy to compare. 
Grades are easy to compare when in school. It's either a A, B, C or 98 marks vs 80 marks.
Speed and score are easy to compare when it comes to sports.
And when you grow up, the next easiest thing to compare is? 
MONEY. What's left to compare? The only thing comparable at adult years is how successful you are. 
The only problem is success is hard to compare and hard to define. So people take the easy way out and just associate money with success.
So it becomes a straight out comparison.
He stays in a bigger house than me, but drives a smaller car.
My wife carries a Dior bag, his wife only carries LV.
It's easier when it's quantitative. Cos it can be counted. 
He has 2 cars. I have 1. 
They have 2 Toyotas, I have 1 BMW.

So what's the point?
Ok so you got a bigger house. Congratulations. Are you happier? The answer is YES.
I have a smaller car. Am I feeling less happy? The answer is YES, for most people. 

It's the same as the situation when:
1) You earn SGD100,000 per year and your neighbour earns SGD50,000 per year
VS
2) You earn SGD100,000 per year and your neighbour earns SGD500,000 per year
For most people, they would feel unhappy, dissatisfied, unsuccessful if they are in situation 2.

When the absolute amount they have is the same. It's sad, that people aren't able to find happiness with themselves but instead have to look towards others to derive success and satisfaction. 
But that's the point right? Cos no one knows what success really is. There is no definition of success. So everything becomes relative. As long as most things you are better than someone else, you are supposed to be more successful than the other party.

Then how do we compare relationships?
Maybe I don't quarrel with my wife. And the other guy sleeps in separate rooms from his wife. No one knows what happens behind closed doors.
What is that person has 2 heart bypass surgeries and I am healthy?
How do we compare that? Do we have enough information to compare that?

It becomes sad when I realize that people get happiness out of someone else's loss/lack of success.
There is someone better, there is always someone worse off. Most of the time, the guy on top is happier cos he is on top. But hey, if there isn't a guy at the bottom, then the guy on top won't be happy. Meaning, he's happy that the guy is at the bottom. This mentality sucks.

I know people who get incentivized to buy stuff when the people around them buy stuff. 
Like their colleague changed a new car. And they go. Oh my I think I wanna change car too. And another colleague changes car again, and they are heavily pressured to see new cars.
Similarly, there are ladies who compare their latest branded buys after bonus season. Someone brings in an LV, Gucci, Prada, and they look at each other with disapproval when someone brings in a Coach.

So where do we go from here. 
Well, it's easier said than done. Cos to compare or be jealous is human nature. 
Simply put. We have to think about ourselves and be contented with what we have.
I am happy that I have a home to stay and food to eat. 
I can even go out and eat good food on weekends.
I have a car.
I have a wife.
I am healthy. 

Once I put statements of things which I have and not compare against others. It is very apparent that my life is ok. I don't think, could things be better. Yes. If I had more money, I'm sure I'd be happier. But I don't compare it with others. Cos when you compare, there's no end to it. When you get 1 million dollars, you will see someone else with 2 million dollars. When you buy a Mercedes, you will see someone with a Bentley. 

So what is the moral of today's post. Well, stop comparing. You'll be happier. Look at the stuff around you and be grateful of what you have. You don't have to settle and get comfortable. You can keep earning more money. But don't compare it. Like yay, I have SGD100,000 and next year, yay, I now have SGD200,000. Be happy that you have whatever amount. 

So, stop comparing. I've found that it improved my life and I hope it will improve your life too.



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So what do most people think about this story?

I note the points above
​- how they deal with the challenge of buying secret Christmas gifts for each other with very little money
- a sentimental story with a moral lesson about gift-giving
- how far they are willing to go to show their love for each other, and how priceless their love really is
​Aww so sweet? Seriously?

What moral lesson is there about gift giving? To sacrifice to give a gift is morally right? Or people who don't give a gift is morally wrong? Or is it right to sell your prized possessions just to provide a gift? What do children think when they read this story? If my parents are poor, they should sell their possessions to buy me a gift to show that they love me?
No... seriously, there are so many things wrong with this story...

1. Lack of communication
The couple know they are poor. They should have discussed this and managed their finances appropriately. Buying secret gifts for each other should be unnecessary. Even if they wanted to sell their prized possessions, they should use the money for necessities or investments or whatever. Due to their lack of communication, they have now squandered whatever wealth they have.

2. Believing that buying gifts during Christmas is a necessity
I'm not a wet blanket. Sure Christmas is a time of good cheer, holiday mood and happiness. If you can afford to give a gift, I think sure by all means buy something to make someone else happy. But if the family is not doing well, why are they pressured to give a gift to each other? I'm sure that they would have understood the need to be frugal. I'm sure they got married knowing that their financial situation wasn't good. So why would they want to make their situation worse? 

3. A story of stupidity, not love
It goes to show, how far they are willing to go to show their love for each other, and how priceless their love really is... no really... if both parties DON'T buy presents for each other and are still happy, I would think that their love is priceless and how much they love each other. For both of them understand their dire situation and are willing to love each other still. But instead they both try to sacrifice their own possessions to SHOW their love. Love is not shown through material items. Or sacrifice of material items. Love is shown by the little things in your daily life. Like her making pork chops for him when he comes home. Or that he goes to work and tries to make money to have food on the table. Love is when they decided to get married knowing that their lives would have tough without much money. These are acts of love. 

Sacrificing something important for something frivolous is NOT love. I'm not belittling the price of their gift. I'm commenting about the act of the gift in itself is frivolous. They both sold their prized possessions to buy something for the other party. If they bought bread for the family, it would be love. If they bought necessities, it would be love. If they both sacrificed for the common good of their relationship, I would deem it love. But they chose to buy something unnecessary, and in this case, they might as well have bought bricks for each other. 
Well, I hope the shops they patronized have a return policy...

Don't agree with me?
Let me put this in another way.
1. Boyfriend remembers girlfriend's birthday. Buys gifts and all the works. Girlfriend is happy. Girlfriend feels that boyfriend loves her.

2. Boyfriend doesn't remember girlfriend's birthday. Girlfriend is not happy. Girlfriend feels boyfriend doesn't love her. Makes boyfriend miserable, silent treatment, etc

3. Boyfriend doesn't remember girlfriend's birthday. Girlfriend is ok. Girlfriend tells boyfriend everyday is with him is already a gift.

When you can look past the normal stuff and still be with the person. That is love.
It is after the mistakes that you are still with the other party. That is love.

​If you are expecting a big diamond ring for your wedding, and you don't get it and you don't want to get married. Do you call that love??



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I've been to see medical specialists a number of times.
For the usual issues most males have, especially during a certain period of their life. 
I've also accompanied friends and family to visit specialists for other issues. 
ALL of the times I've been to specialists, they have always suggested surgery. ALWAYS.
And I find this unhonourable and disgusting.
Many people are not well versed in medicine. I take a particular interest in medicine and stuff so I tend to read a bit on it. But most folks do not bother much about medical stuff and will more often than not, listen to their specialist's advice and do whatever is suggested.

Here are some examples. These are true stories.
Case 1
Knee pain. The specialist did an x-ray, made some diagnosis and suggested surgery to fix it. 
The pain did not affect the patient on a daily basis and only during certain activities. Typically, if the issue does not affect daily life, there is no need to undergo surgery. Unless the patient really want's to continue to do activities which might aggravate the condition. 
In this situation, the patient knew what was needed and did not continue with the surgery. The patient just told the specialist that it doesn't affect daily life and would just avoid activities which might make the knee pain worse.
Expected cost of knee surgery would have been SGD10k.

Case 2
Lumps in a certain part of the body. The specialist called for an ultrasound. Then gave some diagnosis. Then cast doubt upon the issue. The specialist said, it could be this, or it could be that, spouting some medical jargon. Once again suggested surgery to confirm what the lump is, just in case since he "cannot confirm". This scared the patient and eventually patient agreed to go for the surgery, to remove the lump and have peace of mind.
Cost of surgery was SGD7k.

Case 3
Coughing some blood during a flu. Of course the patient was concerned right? There was some blood mixed within the patient's phlegm when the patient was coughing. So the patient went to a specialist to check it out. The specialist did a nose scope. It's something like a camera on a tube which the specialist pushed into the patient's nose which connects into the throat. The specialist concluded that the bleeding was caused by some burst blood vessels during the flu and that it would just heal up. HOWEVER, the patient had a misaligned septum.
The nost is separated into left and right by a soft bone in the centre. The patient had the soft bone to one side of the nose, so one side of the nose is larger than another side. See picture on the right. It happens when one of the nose holes is bigger than the other. 
So the specialist said there was nothing wrong with the bleeding of the patient, BUT, once again, recommended surgery cos the patient had a misaligned septum. The patient told the specialist that there had been no issues living with the condition since young and so declined to have surgery. The specialist tried again and said that the deviation of the septum was quite significant and said that in such cases, he always recommends surgery. The patient declined and left.
Expected cost of knee surgery would have been SGD6k.

Case 4
Patient had a growth in a part of the body after going through ultrasound check up as the person had gastric issues. The GP suggested going to a specialist to check out the growth. Patient went to a specialist to find out more. The specialist made some diagnosis and said some medical jargon as usual and as expected, suggested surgery. The specialist said, it could be this, or that, or that, and to be sure, only surgery could determine, making the patient scared and doubtful. The patient calmed down and asked the speclist, "What if we did nothing?". The specialist was taken aback and said, "Well, we could do nothing and wait for a month and ultrasound again. If the growth doubles in size, then the growth is cancerous and will need to be removed. If no increase in size, then it's likely a mole, and nothing needs to be done." The patient decided to monitor for a month. One month later, the patient went for another ultrasound and went back to consult the specialist. The specialist determined that the growth did not expand and that there was no risk to just doing nothing. Just to do a routine check up scan in a years' time with GP and no need to see him (the specialist) again. 
Don't know the expected cost since the patient did not ask further. 

It's quite ridiculous how medical specialists prey on unknowing patients, recommending them to undergo surgery unnecessarily. It's quite sick really. And the specialists don't do it explicitly. They would be doubtful of their diagnosis and say that to find out more, they need to perform surgery. Now, I'm not saying ALL specialists are bad. These medical practitioners study very hard and are very experienced and sometimes, surgery is required to save/help the patient.
The thing I'm not happy about is that they tap into the lack of knowledge of patients and cast doubt so that the patient, who doesn't know better, will just follow whatever the specialist recommends and take up the surgical procedure. Which might be unnecessary.
This is unethical.
Although from their point of view there is nothing wrong, cos the truth is that, they cannot determine what is wrong with the patient without surgery. But they fail to mention that based on experience, there is probably nothing wrong with the patient and just to monitor for a bit longer before determining if surgery is needed. But where is the money if the specialist does that? A typical consultation for a specialist is maybe SGD100-200 for 30 minutes. Surgery goes up into the thousands of dollars. 

So how do you prevent yourself from being "conned" by your specialist? 
Well, just ask what if I do nothing? Is there any risk? 
Or, what if I just monitor and after 2 weeks or 1 month, we check again to determine again?
Now I'm not a medical practitioner and I don't claim to be.
I'm just suggesting asking the doctor for other options. Cos they usually won't suggest doing nothing. So if you propose doing nothing, they have to address the question.
If they feel that doing nothing is not very risky and to just monitor, then fine. Else, they would say that doing nothing is dangerous something really needs to be done. 
I'm not saying don't listen to your doctor or specialist. You should always listen to your specialist. 
But just note that, you don't need to find out what is the problem. You need to find out if the problem is dangerous to your health. Like in case 4, the body has moles, growths, lumps inside the body which are as normal as birthmarks outside the body. So if the specialist cannot determine if it is a mole or lump, it's not important. The thing is, is it dangerous to do nothing about it? And to answer that question, the specialist has other methods to determine. ie, does the growth expand in side exceptionally fast within 2 weeks. Doubling in size in 2 weeks to 1 month is expected to be cancerous.
So the thing is, most of the time, most people would ask, what is it? And the doctor will answer accordingly. Alternatively, we could ask, is it dangerous? Or how do we find out if it is dangerous? The doctor would answer differently. 
As I said, I'm no medical practitioner. Just that based on my past experience with specialists, I have noticed that they have always suggested surgery for the smallest of issues. So I have learnt to ask better questions to get more useful answers which will allow me to better make a decision for my own health.


Disclaimer: I am not a medical practitioner. My objective is to allow readers to understand that specialists might have the incentive to recommend surgery to answer a question IF the question is not phrased appropriately. Based on experience, the specialist might be able to suggest other options if the right question is asked.



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Quick 2nd post of the day.
I watched the Big Short yesterday. It was a very depressing show.
I got depressed watching it.
I lived through it in Singapore. I didn't really see what was really happening in the US.
There was blatant fraud.
Bankers basically cheated people.
They priced the CDOs/ABS as though as they were not going to fail.
And yet they priced the CDS/STS as though as they were going to fail.
It's sick.
In the end, banks got bailed out. Taxpayers got to pay the bill, the normal people got screwed, lost their jobs, lost their homes.
Bankers got huge payout and fat bonuses.
Life went back to normal.
They patted their own backs like it was a job well done. 
I doubt anyone felt sorry for it. 
The banking elites went back to work and life goes on.
Did anyone learn anything from it?
I don't think so.
Capital is like water.
It naturally flows to the easiest place to make money. Like water flows downwards.
Eventually, it will flood. Then the water will be removed and reallocated. 
The bubble will burst and we will move on the fuel the next bubble.
So where is the next bubble? Cos it sure as hell is growing... wherever it is...

Anyway, if you haven't watched the show, please watch it. It is very entertaining, highly factual and educational.



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I just want to talk a little bit about economics.
I may be over simplifying things. 
It is my belief that global demand is low.
Meaning low consumption since around after the Great Financial Crisis.
Basically, people aren't buying things like they used to.
Meaning companies don't need to produce as much. Less jobs are necessary.
So this in turn results in shipping not being what they used to be as well.
Cos when people don't buy stuff, products don't need to be moved around.
But before the GFC, companies were expecting high consumption so they built lots of ships.
This results in a load of ships now, with nothing to carry. 
This depresses the prices of shipping fees. With less things to carry, less jobs are necessary.
With less things to carry, demand for oil also drops. So oil prices are cheaper. 
This puts some oil companies out of business. Cos some oil companies were expecting oil to be at USD100 or so when they started operations. So again, loss of jobs. 
Now the OPEC seems to have come to a conclusion to limit supply of oil to try to push the prices of oil up again. This could result in a few things.
Potentially, oil companies and affiliates do well, employ more people, increase jobs and more people buy stuff.
This would be likely for oil and related companies.
What else could happen is that with increased oil prices, shipping companies now have a higher cost of running. Which in turn increases prices for consumers.
This could also potentially result in an even lower consumption rate, making the downward spiral even worse.
Furthermore, with the expected increase in interest rates, companies will be experiencing increasing costs in the next few years. This includes high leverage industries like oil and gas, shipping and construction. So basically, back to square one. 
So once again, what are we looking at, increase oil prices are good for oil and gas industry.
Bad for shipping industry. Bad for construction.
Increased borrowing rates are bad for all industries. But somehow people think that when interest rates increase, it typically means that borrowers have good ideas on what to use the money for. 
Look, if global demand doesn't increase, no matter what you build or produce, not enough people are going to be able to buy it.
Donald Trump is expected to just spend money to build infrastructure and create more jobs so that people are able to spend and boost demand. It's a good idea if he is able to execute it properly. 
If demand increases, then all these problems go away. But how does demand increase? 
Well, with jobs and more money to people who consume. 
But wait, wages and jobs hasn't been really increasing. Why is this so?
There are a few explainations. 
Automation is removing jobs. Outsourcing is also removing jobs. 
Where other countries are able to do the same job for cheaper. Like China, Mexico, Thailand, etc.
This depresses the wages of the middle income in developed countries. 
The US is feeling it and even in Singapore, we are feeling it. 
When countries import cheaper labour or outsource labour, this results in cheaper products for consumers. BUT it also loses jobs for the country.
Put a simple example.
iPhones become cheaper in US but people lose their jobs in US so they don't buy as much iPhones as they used to.
China produces cheaper iPhones, but since the people are paid less, they can't afford the iPhones. 
So who's buying? Well, that's where the decreased demand comes from amoungst other things. 
It's really a cyclical problem going round and round.
The solution, in my opinion, is properly allocation of resources. If necessary, better tax structures to reallocate funds around the world. 
Usually, developing countries have a very large supply of cheap labour. China has 1.7 billion people. 
They could supply labour to almost the whole world. 
Think about it.
There are too many products. 
Too many people.
Too little jobs.
Not enough money goes into the hands of people who are the consumers.
Who buys the products?
And with robotics and artificial intelligence coming in the next 30 years or less. 
Things aren't expected to get better.
Simply put. Are consumers having enough money to spend to keep the economy going?

So do I think things are going to get better in the next year or so? 
Nah. Not in Singapore.
In US, maybe, IF Trump is able to keep jobs in the US and increase wages of the average American.
But I think if wages increase, companies would put more investment into artificial intelligence and robotics, which would once again result in loss of consumption. 
I doubt there is a way out of this.
Which leads me to UBI...



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I was reading this article on Bloomberg, when the below phrase caught my eye.

I seem to hear this all over the place.
I have no choice.
The choices may suck, but there's always a choice.

Take the above instance for example. The kid can choose not to attend University. He could pursue a business or take up an apprenticeship and work and learn at the same time.

Similarly, I hear many people say that I am lucky that I can remain jobless for extended periods of time. They have no choice but to stay in the jobs. This once again, is their choice. Even if they have kids. From what I see, most people overspend on unnecessary stuff. And due to this, average monthly expenses are high. Furthermore, most of these people continue to live their normal lives going on holidays and such. All these are choices. I'm not lucky. I made my whole life choices around leaving my job. That's why I have this option. Most of the time when people say they have no choice, it's cos they have made decisions that ended up in low/no options. Also, even after they have no options, they don't want to make changes to give themselves more options. 

I once had a conversation with a colleague. She said I was lucky and that she could never be able to retire like me. I said, of course you can, you can don't go on fully packed trips to Europe, drive a smaller car, buy less bags/shoes, eat simplier, etc. And she said, oh I can't do that... Then I kept quiet and smiled.

Then some readers may say. Then what about those really really poor people. Or people who have to take care of parents who are ill. Once again. There are choices. They aren't easy choices. But they have things which can improve their situation. I will explain.

I once was selling financial products. The top guy in the organization came from a poor family. He worked really hard selling financial products. He researched on how to sell well and had selling plans. I didn't agree with how he ran the selling process and neither do I like financial products, although there is a market for it and there are folks who do need it. But I learnt a lot from him. 
He said. People don't want easy. People want easier.
People don't want to do things to improve their situation. People HOPE the situation improves so that they don't need to change.
If someone has financial difficulties and want to change their situation, they could sign on civil service. Army, police, air force, etc. They could also go into real estate sales/financial product sales/car sales, etc. There are many jobs which pay very well. Some people may say they don't have selling capabilities. Well then learn. If they can say they have no choice and choose to work in a low paying job. Then similarly, they can say they have no choice and learn new skills so that they can be employed in a higher paying job.
It's the same.
With the current skills, they have no choice but to take up this low paying job.
If you want a higher paying job, you have no choice but to learn a new skill.
The only difference is... With the first option, you don't need to change yourself. 

Now I'm not saying I can do it. I do terribly in sales roles. But I have choices. And I can choose not to learn new skills and I don't complain that I have a low paying job and I have no choice but to stay in it. 

So whenever I hear someone say they have no choice, I tend to get frustrated. Cos it's so easy to just brush everything off as no choice. Most people have choices. It's HOW to get it done.

Admittedly, there ARE people with no choice. 
People who are born handicapped have no choice. They can only choose to live a better life. They don't have a choice in their handicap. Look at Nick Vujicic.

And there are also people who have made decisions which resulted in them having no choice.
Like people who never did any financial planning and ended up with large debts due to medical expenses. And yet they do not take more steps to try to improve their lives. 

So for people who say they have no choice, I say, NO. You have a choice. You chose to do what you are doing now. Or your choices have resulted in your situation now. 



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I really hate marketing. 
Not the subject.
The practice of it.
It makes people want. And want more.

Many times, marketing taps into peoples' subconsciousness to induce them to spend. At other times, it changes society to make it normal to spend. And all kinds of other tactics to make customers buy stuff which they may or may not need. 

Ever heard of the De Beers marketing for diamonds.
How De Beers created the demand for the engagement ring.
Previously, engagement rings weren't that common. Diamonds are also more common than sapphires, emeralds and rubies. Potential wives would rather their husbands-to-be spend money on a new washing machine instead of an engagement ring. 
But all these changed due to marketing. De Beers created a campaign to make engagement rings desireable. To make people attach an emotional value to it so that people will buy it as a symbol of love. A diamond is forever. (Actually, it isn't as diamonds can chip, shatter and discolour) De Beers hired actressess and gave them rings to wear so that people could admire and desire. It was a heavy advertising campaign that spread throughout the world to influence people to buy diamond rings and also to spend 2-3 months of salary on them.

Another marketing tactic is why retail shops put candies at the checkout.
This is highly related to decision fatigue.
So the idea is that when people go to a supermarket, they have to decide on many items. They have to decide on what to buy, from which brands to buy from, whether they need an item, etc. Apparently, making decisions is tiring, so it drains you out. This comes back at people in 2 ways. Loss of willpower and lack of energy. After a couple of hours of buying stuff, you may feel tired. Then you see a bunch of nice chocolates just as you are about to check out and pay. So you think, what the heck, I'll just grab one to get my sugar levels up. Also along with the depleted willpower, where one might usually resist such a temptation, it induces people to just buy, just that additional candy for quick consumption. 

With big data, here's what some companies do.
Target, the hypermart in US. Realized that people typically go to the hypermart which they are used to. They make changes only at certain periods. Usually when big changes happen in their lives. ie, when pregnant, moving house, getting married, etc. So everytime you swipe a membership card, they take data on what you buy. And with what you buy, they are able to analyze and determine what is happening in your life and thus allow them to "push" items to you in specific marketing material. I'm not even bothered about the privacy issue. I'm just kinda disgusted that marketing identifies these trends and pushes products to people, making it more tempting for people to switch or make decisions which they would not normally make.
Similarly, Starbucks is going down this route.
Starbucks is a habit. You go to work, on the way, you pick up a Starbucks. Or after lunch. Whatever. So if Starbucks give you a free muffin for 2 weeks. What do you think will happen? 
There's a high chance that you get used to the free muffin and now feel that you need a muffin as a dessert after lunch. So now you purchase the muffin as a habit resulting in long term continued sales. 

​So from my point of view, marketing is this deceptive, conniving business to induce consumers to spend more than they would normally do. The worst thing is that it is homing in on consumer subconsciousness, meaning the consumer doesn't even know they are being influenced. I find this totally disgusting and should not even be legal. People should be buying things when they are aware of it and be able to make fair consideration to consume whatever product. 

But oh well, who am I to say anything. Marketing spurs consumption which boosts GDP which in turn keeps people employed and turns the gears of the economy. If businesses aren't able to "make" consumers buy stuff, how is the economy going to run right...



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So there are a couple of stuffs which Singaporean folk do at certain times of their lives. I'm just ranting about how I feel they are unnecessary and that simple logic should just prevail. 
Nonetheless, people still do these stuff.

Confinement after child birth
Typically, after child birth, the mother stays at home in "confinement".
There's a dedicated cook to cook some nutritious stuff for her.
She isn't allowed to bathe. Only allowed some herbal wipes for a month.
Can only drink warm drinks, or warm herbal drinks.
Engages in a masseuse who also brings in a steaming tent to have the mother sit in the tent like a steam bath. 
Some details here.

ERSG hypothesis and conclusion
Many of these practices were brought down from China when the population moved south when they migrated for greener pastures. In China, there are 4 seasons. The winds may be cold, bad weather conditions, etc. With a new mother's constitution weakened from child birth, they might have needed to take special precautions not to cause the mother to have her body get weaker. Like if she took a bath, where hot water might not have been available in olden days, and a cold wind blew, it might cause her to catch a chill. Potentially, food might be scarce and better nutrition might be needed for the mother to replenish her body's loss of minerals. 
Essentially if we move with the times, I think we need to understand that many other parts of the world do not practice these traditional customs. Yes, I agree that a mother might need more nutrition to replenish her calcium, and other nutrients. So I'll still take those in consideration. However, things like not taking a bath or drinking only warm water might not be so relevant these days. Singapore is a hot country. I'm sure that having a proper warm bath and keeping hygienic is just as important. Naturally, one would need to take note not to stand in front of the fan naked when out of the bath. I think that's basic common sense. Even if you aren't a new mother, I doubt anyone would be doing that. 

So my conclusion on this is. Keep the best, dump the rest. There are things that are logical. Having a good diet, resting well, keeping warm. All which you should already be doing. However, there may be some stuffs which some good meaning auntie may suggest which makes absolutely no sense considering the new environment. No point keeping practices which used to be useful in a country which is different and has different living conditions. 

​Wedding gate crashing
Another of my gripes is wedding gate crashing.
It's something like ragging in the University. Where the bride's friends aka "sisters" will make fun and often humiliate the bridegroom and friends aka "brothers" when he arrives at the bride's house to pick up the bride. 
Often, the bridegroom and his brothers will need to eat sour, sweet, bitter, spicy food items, signifying willingness to go through thick and thin together. If the items were usually edible, I think there would be some significance to this. But more often than not, the bridesmaids concoct some formula of disgusting food or drink to make the bridegroom and friends consume.
Other gate crashing activities which I have heard of or seen, are making the bridegroom party sing and dance (Not too bad). I've seen the bridesmaids ask the males to wear bikinis or bras and sing and dance. Utterly unnecessary and humilitating.
There are instances where the bridegroom may be requested to eat a banana from a "brother" who is requested to hold the banana at his crotch.
Basically, almost anything goes. It's typically shrugged off as testing the bridegroom's love for his wife to be and the bridesmaids have a ball of a time thinking of ridiculous games to punish the guy. 
Other details here.

ERSG hypothesis and conclusion
I don't know how this started, considering that a long time ago in China, the bride would be SENT to the bridegroom's house on a sedan. The bride would be married off. So where did THIS tradition break and result in the male having to be punished to marry his bride?

I'm thinking... just thinking. That maybe long ago, some guy offended his future wife one day before the wedding. He wanted to proceed with the wedding the next day and went to the bride's house with his posse only be be met with the bridesmaids. So to prove that the guy was sorry for whatever he had done, the bridesmaids went ahead to punish the guy and his mates and only after sufficient bashing did they allow the groom to see his bride and continue with his marriage.
So maybe this bride has 4 close friends whom she cried to one day before the marriage and they all decided to make the groom pay for his misdeeds. So ok fine, the marriage proceeded after the punishment and all that.
But HEY! When it was the bridesmaids' turn to get married...
They all wanted to punish their grooms just for the fun of it. And so the cycle starts. 

My thoughts on this is... 
1) Has the groom not proved his love for his wife already? That should have been settled before the proposal. Else she should not have accepted his proposal in the first place.
2) A marriage is typically, these days, on equal terms. No one is now buying a wife or selling a daughter in Singapore society. Why the need to punish the groom?
3) As a wife to be, do you like to see your husband being humiliated? If you do, there's something wrong with you. Both husband and wife should do whatever is necessary to ensure that each party/partner is equally respected. Not to mention in this case, usually the bride condones her friends to humiliate the groom and his party.
4) It's all in good fun... seriously? Do you tell yourself that? Why not the bride side try out similar games and humiliate themselves for the sake of proving their love?

As readers might suspect, I never had such activities for my wedding. It was a simple affair. 
I'm all for a good balance. If for some significance, the couple wants to keep some tradition, then keep it rational and honourable. If they want to have some fun and games. Fine. If they need the groom to eat something, make it something that BOTH sides are willing to eat. If they need to sing some sappy love songs, by all means sing. But really, let's do away with the humiliating aspects of this "tradition". Strangely, even under the guise of tradition, I don't think that humiliating or disrepecting someone would have made it into traditional practices in the olden days.



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