Thursday, July 18, 2013

Blind Allegiance

It was blind allegiance that led Frank Bailey to dedicate one year of his life to help put Sarah Palin into the office of Governor of Alaska. Working eighty hour weeks on pro-bono basis, Bailey was part of the grassroots volunteers Sarah called her "Rag Tag Team", blindsided by the myth and choosing to ignore the darker personas of unhinged diva, think-skinned attacked dog, and self-absorbed zealot.

While they swore they were on a high-road campaign, nobody thought it wrong their candidate would draft a letter to the editor, singing her own praises, but attaching a random name to sign and claim authorship. When the letters were actually printed - appearing in the  editorial pages of the Anchorage Daily News, the Fairbanks Daily News-Miner, the Juneau Empire and a host of newspapers that  were important for message building and demonstrating grassroots support - Sarah knew she hit a goldmine, and decided it would become a priority:
"That's brilliant about the letters. It's free, it's powerful... I know I always read the letters to the editor, sometimes I learn more there than in any other parts of media."

To capitalise on the free mileage of publicity, the Rag Tags became a letter-manufacturing plant, churning them out like campaign buttons. Soon, there were letters of high praise for Sarah and harsh criticisms of opponents submitted en masse to the entire print media.

The lame stream media is claiming that certain websites may be popular, and ranks low on credibility, supposedly because they are alleged to publish false information about the incumbent political party. Former Nominated Member of Parliament Calvin Cheng is quoted as saying, "If we have a media-illiterate population that naively believes whatever they read, then we are in trouble." Cheng need not lose sleep over this, it was Lee Hsien Loong himself who once asked, 'Do you believe everything you read in the Straits Times?"


  1. Our problem is that too many believe what they read on the Straits Times. Latest example: "MAS says Singapore banks are safe". Why bother to flash such headline if they are "so safe"?

    Even though the credit to GDP is 270% highest in the world, the MAS claimed the local banks have strongest depsoit to GDP ratio of 400%! Well, they did not say over half the deposits are hot and laundered money, ready to take flight anytime. Then the sheeple local depositors carry the non-performing loans like Cypriots. Some say real estate will fall 30% la, not 50%. I thot cow says the measures were only meant to correct "only a few percent", and he didn't even say up or down? Now think: total bank loans of local banks to real estate is about $155b, plus another $100b to property developers. A tiny 30% correction, if the local banks ever mark to market their loans, would wipe out $80b of capital. And what is total capital of the 3 local banks? $70b! What does the Starits Times think?

    1. "MAS says Singapore banks are safe"

      How can bank not be safe when it is auto-mode for the government to bail out the bank, just like they bail out the public transport company with $1 billion taxpayer's money. Only a fool think that the govt will not bail out the bank. How can bank not be safe and risk-free if they know for sure they will be bailed out ?

    2. So the MAS was trying to reassure the "fools"? hmmm

    3. Actually, compared to the rest of the banks in the world, Singapore banks are among the safest. Their CAR are among the highest in the world, high than the MAS requirements, and much higher than the Basel II & Basel III requirements.

      MAS has to come out and say they are safe because Moody's has just issued a warning about the banking industry's outlook turning from stable to negative. Mind you, the banks' ratings are still maintained at the highest levels among world banks - just that the outlook is turning negative. Which is to be expected, as interest rates are so low now that the only way it can change is to go up in the near future.

      MAS has to assure the public in case some nut case equate outlook with banks' actual ratings, or in case there is a run.

      Singapore public debt (111% of GDP) appears high because of the issuance of SGS to broaden the debt market. Net debt is actually low. And net external debt is also low. Foreign reserves & gold are high. So, personally, I have no worries about Singapore's debt level.

  2. For once, at least I believe the PM about whether the ST is to be trusted for all its publications.

    He, the PM may not realized that more and more readers of the ST are loosing faith in its ability to tell the Truth. Not Half Truths. Never mind, if they have not told true lies.

  3. "Why bother to flash such headline if they are so safe?", unquote.

    It reminds us of a Chinese Saying '此地无银三百两'。

  4. Yes, I notice the number of letters to the editor that are blinded by allegiance are on the increase..

  5. Poor Sarah. She has only a tiny team, and the editors don't have to toe her lines. She should have visited Singapore.