Second-class citizens?

‘ let justice run down like waters and righteousness as a mighty and ever-flowing stream.’ (Amos 5:24) 

Recently I read two articles which commented on the state of affairs in this country. One was published in the Washington Post, the other first appeared in The Star, Malaysia. Both observed that there is the widening in income inequality, making worse by the massive influx of low-wage foreign workers, especially during the last ten years (population increased from 4 to 5 mil). It has reached a critical point that one respected senior statesman labels it as “socially unconscionable”. In fact, we have of the widest income gap amongst the developed countries. Then, there is those frequent train breakdowns, flooding, not to mention the soaring housing prices and cost of living. 

The middle income group formed 70% of the population, and we have the most educated middle-class in the world. The influx of mid-level foreign workers has apparently competed some of the jobs in areas unheard of a decade ago. They edged out the locals based on pay packages, not on qualifications. The group that fares the worst are the middle-aged and the retirees who find themselves very difficult to re-enter the workforce. This middle-income group is fearful of deterioration in their living standards, the threat of unemployment, or their salary dropping. All these can happen against the back drop of the country experiencing high growth and rise in wages. 


The problem is that the wealth effect concentrates in the hands of rich people. The friction between foreigners and locals is real, and escalating. This is shown by the recent outcry over the fatal car accident involving a rich PRC young investor who drove his limited edition Ferrari recklessly (his wife said it was a driving error), causing the death of two others besides himself. It has stirred strong anti-foreigner sentiment so much so that the Chinese embassy here has to remind its people to obey local laws and regulations, act responsibly. 

The danger of not dealing with these issues satisfactory is that it can erode the trust of the public towards the policy makers. I am of the opinion that some of these policies do seem to produce only short-term economic gains but not sustainable or endurable benefits for its people. Economic growth policy without addressing income inequality is disastrous in the long run. It is no good that people feel being treated as second-class citizens. How can a strong sense of nationhood developed with this kind of perception amongst its people?

Greed is the name of the game

‘ we brought nothing into the world, and we cannot take anything out of the world. But if we have food and clothing, with these we will be content.But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction.’ (1 Timothy 6:7-9)

The recent disclosure of huge trading loss by a giant US bank shows how prevalent it is amongst the financial institutions to resort to “all about risk-taking” to generate profits. New and complex trading instruments are ‘created’ for trading purposes, and their trading positions can be so huge (to make that razor-thin profit margin) that they can cause turmoil in the financial markets.

The ex-head of equity derivatives business of another US giant bank, revealed publicly why he decided to quit his job. The interest of the client is often sidelined as the firm thinks more about making money. The culture which centred on teamwork, integrity, humility has vanished. The view of doing what is right for the clients even it may mean less money for the firm is no more popular. As long as you make big money for the firm is all it matters, and that guarantees your promotion to an influential position and fat pay checks.

Here is how a financial firm do it and do it fast by rippling the clients: Persuade the client to invest in the stocks or other products that the firm is trying to get rid of. This would help the firm to get rid of risks that no one want by selling those risks to someone else who does not know enough to know they should not want them. Another practice is get your client to trade whatever it will bring the biggest profit to the firm regardless of whether the clients are sophisticated or not to understand these products. The emphasis is on ‘short-cuts’, not 'long- term' business relationships. The mammoth monetary rewards encourage such practices.

Complex financial products are gaining popularity in Asia. Examples of some of these are Reverse Convertibles, Super Track Notes, Accumulator and Principal Protection Notes. Whatever names they may give to these products, they are essentially structured products and carry high risks. Take for example, the Accumulator, which is a contract that obliges investors to purchase a security, currency or commodity at regular intervals at a fixed price. This obligation lasts throughout the term of the contract, normally one year. Perhaps the most attractive feature of this product is that the fixed price is set at a significant discount to the prevailing market price. The trick or 'poison pill' is that if the security price drops, investors remain contractually obliged to purchase the underlying security, even the prevailing market price is lower. The contract typically has a clause which terminates the contract if the stock reaches a certain level, which is usually set slightly higher than the initial price. So the gain is capped in that sense. However, the investors could be required to double down on purchases if shares dropped, hence, the losses piled up with each purchase.

Investors apparently have not learn a thing or two from the financial crisis in the past. In fact, seeking to accumulate wealth by buying structured products is an unwise move. No companies issue securities to help investors. They do it for a single purpose-to raise capital at the cheapest cost possible. So if a security carries a high yield or potential future return, inevitably it entails a high level of risk, even if one can't identify the risk. If you cannot fully understand the products, then walk away from them, don’t invest. By the way, the complexity of the product is intentional so that if you understand the product, it is likely that you won’t buy it. 

Participate in the life of next generation

‘Behold, children are a heritage from the LORD, the fruit of the womb a reward. Like arrows in the hand of a warrior are the children of one’s youth. Blessed is the man who fills his quiver with them! He shall not be put to shame when he speaks with his enemies in the gate.’ (Psalms 127:3-5)

Parents today find it a challenge to participate personally in the life of next generation. Our children spent more of their waking hours in schools than at homes. Table talk undoubtedly is good for our body, mind and soul, but it has becoming increasing difficult to come by. Effort to have all family members having dinner together seems a daunting task, let alone breakfast with each other.

Today’s social and physical environment promotes separate bedrooms for parents and children. TV and computers can separate us in a non-physical way. When I was young, we were not allowed to shut our bedroom’s door other than changing clothes! I vividly remember the fun time we had, chatting with one another right through the night. Now though I am a home maker, I still find hard to ‘break-in’ the world of in my children. Sometimes I ask myself are the kids clanged on to us because they still need our financial support. May be in their hearts they think like most of their peers: “my parents give me too many boundaries”, “my parents always claim that they tell me No for my own good but I don’t believe it.”, or “my parents are so out of touch with my world”.

While, it is still better to make efforts to bridge the gap between us as parents and our children than do nothing about it. For my family, we try to have at least weekend dinner together at home, or once a month eating out (try not to have it at a food court as it is noisy and people are waiting for your seats!). A family dinner offers opportunity to fosters bonds and impart right values. However, it is important to observe some rules during meal time: no using of phone, no fast food, not to lecture or discipline.

Mother's Day

‘Her children rise up and call her blessed; Her husband also, and he praises her.’ (Proverbs 31:2)

I read some inspiring Mother’s Day messages posted on the internet which go like this:

"M" is for the million things she gave me,
"O" means only that she's growing old,
"T" is for the tears she shed to save me,
"H" is for her heart of purest gold,
"E" is for her eyes, with love-light shining,
"R" means right, and right she'll always be.

Many hugs 
Only love never anger
Teaching me
Helping me
Every smile when I was sad
Raising me to be strong

'There is no velvet so soft as a mother's lap,
no rose as lovely as her smile, 
no path so flowery as that imprinted with her footsteps'

My mum passed away almost two years ago. Mother’s Day always reminds me of some regrets in life e.g. my impatience, unkind words that I used on my mum in the past. If we want to see example of unconditional love in this world, we only need to look up our own mothers.

'Secret codes for five organs'

A friend sent me this interesting ‘Chinese saying’ which I find there are some truths in it: 



你一定要懂五臟密码


肺臟有问题时-肤色没有光泽，多愁善感，容易悲伤。
心脏有问题时- 左边手臂会酸，麻，疼。
肝臟有问题时- 小腿晚上睡觉时容易抽筋。
肾臟出现问题时-声音就会出不来，就会沙哑。
胃臟出现问题时-出现便秘，偏头痛。

What is your score on this? As for me, I scored at least 3 over 5 ( not something to be proud of)!

Murphy's Law

‘Perseverance must finish its work so that you may be mature and complete, not lacking in anything.’ (James 1:4)

Murphy's Law is a popular adage that states that "things will go wrong in any given situation, if you give them a chance," or more commonly, "whatever can go wrong, will go wrong”. It is us who make Murphy's Law relevant to our lives. When life goes smoothly, we think little of it and even take things for granted. On the other hand, when things go against us, we look for reasons or explanations.

Perhaps the best explanation why we are so attracted to Murphy's Law is that there is a sense of fatalism when things go wrong. Fatalism rest on the notion that we're all powerless to the whims of fate. This means that the things that happen to us are unavoidable. Fatalism contradicts with free will. Those who believe in latter think that all humans possess free will and that all of our choices, together with the consequences that come with these choices, are our own doings.

Those who hold on to life is fraught with ‘things go wrong’ often use this to illustrate. It is often observed that no matter how many times one drops a slice of bread, it always seems to land on the floor butter-side down. Can we use Murphy’s Law to explain it? But with a buttered slice of bread, surely one side of bread with butter is heavier than another. That’s why this side will always flip toward the ground. This doesn’t seem to have anything to do with Murphy’s Law.

Murphy’s Law is a very gloomy principle indeed if we allow it to operate this world and explain everything happens unfavourably in this manner. Christians are supposed to operate under another principle- the attitude of thanksgiving even in the midst of trial and difficulty. Most Christians do have moments when they doubt the love of God when faced with storms of life. Thoughts like ‘I don’t think God really loves me or else He would not have let this happen to me.’ do come to the mind of Christians, even amongst the saints.

It all boil down to one’s attitude towards ‘bad things’, isn’t it? When there is a change of heart and a change of mind, ‘victims’ can become victors, and tests can be turned into testimonies.