<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead vAlign=top><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">kojakbt89 <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">Jan-21 8:14 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>43603.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>PAP’s rule will come to an end
January 22nd, 2011 |
Author: Contributions |
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The old man has finally said it. He has predicted PAP’s rule of Singapore will come to an end one day. We believe it will be sooner than later. The General Election 2011 is around the corner. And as in previous election times, we have begun hearing and seeing the ruling party’s pitch increasing in volume and frequency through the state controlled media.
In all of the past election years the Singapore public had been cajoled, fooled and promised a better life and improved standard of living. HDB dwellers were promised millions of dollars of upgrading works in their estates provided they voted for the PAP. Of course the money was not coming out of the PAP’s pockets. It was from the taxes and revenues collected by the government. There will be more carrots thrown to the voting public as the days draw nearer. The timing of the GE is planned such that the goodies will be cast to the public with the hope that the “daft” Singaporean will be overwhelmed and in true Confucian deference, vote for the master.
The state media is going on overdrive with the news and interviews and pictures of the octogenarian MM grinding a threatening message that the people better vote the ruling party candidates or face imminent destruction of the system and country.
But all these shenanigans will not cut ice with the people who have suffered enough and seen injustices, broken promises and shoddy leadership.
The issues that have riled Singaporeans over the past decade cannot and will not be easily rationalized and excused.
Let us revisit some of these issues and refresh our minds on why we should not be fooled into believing the news that is being spewed out in the local state media.
1. The widening income gap and Cost of Living
The ruling party’s penchant for harping on the GDP is just unbelievable. The local media trumpet the 14.7% GDP growth for 2010 as if everyone in Singapore has struck gold. In reality, who has seen income growth? The median wage of the working population of Singapore is in 2009 was $2,400. That means more than a million workers get $2,400 or less per month. If each of these workers had to maintain a family of 3 or 4 members, one can see how stretched the bottom half of the population are to meet just their daily necessities. Woe to them if they or their family members get sick and need medical attention. Singapore has a very large income gap – thanks to the government’s policy of importing cheap labor that has depressed the wages of a large segment of the population.
In 2010 there were a total of 464,400 or almost 30 per cent of all active CPF members, earning less than $1,500. As the data excludes self-employed persons and inactive CPF members (those who did not have at least one employment CPF contribution paid for him for the current or any of the preceding 3 months), if we include these persons, the total number of people earning less than $1,500 could well be more than half a million. Singapore has a 3rd world wage structure and the biggest income gap among developed countries. For the bottom 30% whose wages have remained more or less stagnant for the past 10 years, their quality of life has simply deteriorated.
2. Cost of Living
Inflation is currently at 3.8% and MAS says it will hit 5% in the months to come. Nominal incomes of low-wage earners have hardly grown in the past 10 years even as inflation has spiked significantly. What our wages or income can buy these days are slowly are being whittled away, and paring our shopping behavior to bare essentials. Can the half a million workers in the bottom 30% of the wage table really enjoy the purported GDP benefits as touted by the ruling party? Which consumer essentials have not risen in price? In fact retail prices of all consumer goods have increased at between 5% and 10%. And things are going to get worse with oil and commodity prices moving upwards.
Of course the media will boast about workfare and how it helps needy Singaporeans. Does it really put food on the table? Two-thirds of it, if a worker is eligible, will end up in his CPF which by the way is becoming more and more elusive as withdrawal dates are moved back. The average workfare recipient gets only $80 a month. But surely our economic goals cannot be to keep a large segment of the population just above subsistence level? I believe that workers should be paid decent wages. What is so good about an economic system in which workers work full time jobs but cannot make enough for decent living?
The high cost of living coupled with low wages and reduced domestic purchasing power condemns the average Singapore worker to an ignominious, monotonous and stressful working life. Singapore workers have to work harder to earn the same amount of money and save for a longer period to purchase the same product. People just across the causeway get more bang for their ringgit than we with our strong dollar. In 1991, Goh Chok Tong promised Singaporeans the “Swiss standard of living” within a decade. Twenty years later, we have a living standard which is closer to Russia than Switzerland.
3. Singapore’s Purchasing Power
This brings us to the question of how much is our money worth these days. Despite the Monetary Authority of Singapore’s attempt to let the Singapore dollar appreciate gradually over other currencies, the same Sing dollar buys only a fraction of sugar, cotton, rice, HDB flats, fuel and utilities compared to 10 years ago. In reality, the Sing dollar has lost real purchasing power.
Mercer has ranked the republic as the world’s 10th costliest city, even more expensive than Hong Kong (11th), New York (23rd) and London and Amsterdam (both ranked 27th). The property hunt pushed up prices of resale HDB flats by 40% in the last three years, and by 3.8% in the last quarter. In the more expensive private sector, the jump was even sharper – by 7.1% in the last four months of 2009. Moody’s Investors Service said that mortgage lending was accelerating at a rate that made Singapore more susceptible to a property bubble than Hong Kong or South Korea.
According to the report Singapore ranks 43rd in terms of wages. Singapore came in 42nd for purchasing power which is wages relative to the cost of living and Kuala Lumpur is 2 places ahead of Singapore. Singapore is behind Seoul, Tokyo, Taipei and Hong Kong. In 2006 Singapore workers have a purchasing power index of 54.9 (using New York as the base=100), today that figure has fallen to 40.6.
According to Credit Counseling Singapore, in the past 3 months, the total consumer debt in Singapore reached $150B. This figure consists of $111B housing debt and $40B in the form of credit card, car and unsecured loans. It noted that the roll-over credit card debt has grown to a record $4B and the number of credit cards issued in Singapore has reached 6 million a figure that translates to roughly 6 credit cards for every eligible person with annual income above $30K.
4. Housing Issue
Between 1990 and 2009, HDB housing prices increased 400% as a result of the so called Asset Enhancement Scheme. The very mission of HDB changed from one of affordability to one of asset enhancement. Obviously some genius knew that CPF monies were burgeoning beyond the intended aim and so a plan had to be devised to reduce the savings which would have earned substantial interest payments. The original aim of CPF contributions was to ensure a retirement nest egg. But tweaks were introduced to enable withdrawals for investments and other expenses. Approved investments which were touted by local banks to have earned more interest ended up with investors losing potential interests.
Household debt has grown briskly – mainly on account of bigger home loans – to $198 billion in Q3,2010 up 10.7 per cent from a year ago fuelled mainly by cheap housing, vehicle and investment loans. Concerns about Singapore’s credit lines has been raised by the Asian Development Bank (ADB), as real-estate lending accounts for more than half of total loans in the banking system. At 51 per cent of advances, Singapore’s banking sector’s exposure to property is the highest among the nine major economies of East Asia. According to the ADB’s Asia Economic Monitor, this is in contrast to 9 per cent in South Korea, 15 per cent or less in Indonesia and the Philippines, and below 20 per cent in Hong Kong, Thailand and China.
5. Ageing population and retirement financing
Today most households are on mortgage of 20 to 30 years. A 30 year mortgage plan will force Singaporeans to sell their flats for retirement! This is because their dwindling CPF balance will not be sufficient to meet their expenses upon retirement. By allowing HDB prices to increase, these future retirees could then fund their retirement by selling off their HDB flats at high prices and downgrading. This would solve their retirement financing and the government doesn’t need to take care of these aged folks. For those can’t downgrade even if they wanted to, the option given to them is to obtain reverse mortgage or if eligible, obtain a Lease-Buy Back from the HDB. If one dies while still servicing the reverse mortgage, then the beneficiaries have to make good the outstanding payments to the financial institution. In the case of LBS, the flat reverts to the HDB.
One out of every seven HDB flat owners have problems paying their mortgage loans. This seems to be what the statistics have revealed. Last year, the HDB visited 60,000 flats which had problems paying their loans and gave financial counseling to 35,000 households. This is 14 per cent of the estimated 420,000 HDB loan mortgages – or one in seven.
6. Medical Costs
Medical cost has escalated sharply in the past 4 years. Minister Khaw had this to say about the massive increase in medical cost:
“The bottom line : We have good high-standard public hospitals that are affordable because of the 3Ms” – Minister Khaw
Affordable? It reminds us of what Minister Mah said – housing is still affordable after prices jumped by 60% in 2 years. As for the 3Ms, it is full of holes. Many self-employed individuals don’t have Medisave, hundreds of thousands are not insured and for you to get Medi-fund you have to exhaust all your savings, live in a home and have little or no income to pass the criteria for receiving Medifund. Many people don’t know what is going on until they get seriously ill ….then it is too late. There many holes and gaps that people can fall through. Take Medishield, many people are still on Basic Medishield. Basic Medisheld has limited payout for hospitalization/surgery that is now insufficient for the ‘catastrophic illnesses’ because hospitalization cost has escalated. Enhanced Medishield requires co-payment amount that you have to make before Enhanced Medishield will pay you. Many patients, especially those with early cancer, found out the hard way that certain illnesses require many short hospital stays and you end up paying more than a few tens of thousands. To solve this one needs to purchase a rider to cover the co-payment amount – which is another crack in the scheme that people are not aware of.
When Minister Khaw had a heart attack and needed surgery, he paid $8. Many poor people will pay much more than $8 when they get hospitalized. In our system, the richest in our society like Minister Khaw pay less than the poorer members because they can afford better insurance that requires very high annual premiums, that certainly are beyond the poor Singaporean’s means.
7. Massive Influx of Foreigners
When ordinary Singaporeans stand in the voting booth, they will ask themselves 2 questions, “Is my life better than it was 4 or 10 years ago? Will my children’s lives be better 10 years from today?”….in the coming months, the one truth that will emerge is you cannot earn people’s votes by making their lives worse….and this truth will soon dawn on the PAP!
Today, almost 40% of people living in Singapore are foreigners. Who doesn’t feel the negative impacts of the sudden increase of so many types of foreigners jostling for the limited spaces in our MRT trains, buses, shopping areas, food centers, markets, beaches, void decks and walkways? What about the sleaze brought about by the increasing numbers of prostitutes who are on work or student permits plying their trade and construction workers loitering near our homes?
Most new residents have no idea about the Singapore culture , its rich ethnic multiplicity that has brought about a seamless diffusion in the way Singaporeans go about their everyday lives. As a result of the variegated backgrounds of Singaporeans, the evolution of racial and religious celebrations into a true blend of inter-related tolerance and understanding over a long period of time but with the basic belief that this is the country they will live and die in. In 10 to 20 years time, we will be outnumbered by the foreigners who bring with them their own values, motivations, political aspirations and idiosyncrasies. Is this what we want for our children and their children?
Slowly but surely, this government will pander to the needs of the diverse foreign residents. We are seeing this happen – 10 million dollars being spent to integrate the new residents is only the start. In the past we were told we need foreigners for their special skills. Then we were told we need foreigners to create jobs for Singaporeans. We have also been told that foreigners are here to take up jobs that Singaporeans do not want. Now the latest reason for increasing the foreign influx is our fertility rate is low.
So importing foreigners and over-populating our little island is likely going to make it worse – importing foreigners using low fertility as an excuse is going to plunge us into a disastrous vicious cycle….disastrous for locally born Singaporeans who will diminish in numbers but perhaps acceptable to the PAP government that sees Singapore as Singapore Inc so it doesn’t matter to them where workers come from so long as GDP grows.
Conclusion
Recently the MM called Chee Soon Juan and the late JB Jeyaretnam ‘duds’. It was a cheap shot! He knew they were not in a position to sue him. Chee and JBJ are not duds. “The 82 people put in place by his selection system who allowed GST to be increased, ministers’ pay to reach the highest on the planet, foreign influx to be so massive, and rejected the idea of minimum decent wage for workers….these people are the real duds.” (taken from recent blog, sorry I can’t quite recall who).
The PAP government believes it deserves the highest salary in the world. But the performance of some, if not all, of its ministers is apparently dismal. One needs only to recall Whitley Centre, Bedok SMRT depot, Orchard Road floods, Temasek/GIC losses, public housing fiascos, just to name a few. None of the mistakes were admitted, much less any apology tendered.
Bill Clinton, a few years back, warned about people who believe they possess the ‘absolute’ or ‘hard’ truths because it can lead to actions and decisions that are extreme and detrimental to human society.
.
Baby Boomer
</TD></TR></TBODY></TABLE>
The old man has finally said it. He has predicted PAP’s rule of Singapore will come to an end one day. We believe it will be sooner than later. The General Election 2011 is around the corner. And as in previous election times, we have begun hearing and seeing the ruling party’s pitch increasing in volume and frequency through the state controlled media.
In all of the past election years the Singapore public had been cajoled, fooled and promised a better life and improved standard of living. HDB dwellers were promised millions of dollars of upgrading works in their estates provided they voted for the PAP. Of course the money was not coming out of the PAP’s pockets. It was from the taxes and revenues collected by the government. There will be more carrots thrown to the voting public as the days draw nearer. The timing of the GE is planned such that the goodies will be cast to the public with the hope that the “daft” Singaporean will be overwhelmed and in true Confucian deference, vote for the master.
The state media is going on overdrive with the news and interviews and pictures of the octogenarian MM grinding a threatening message that the people better vote the ruling party candidates or face imminent destruction of the system and country.
But all these shenanigans will not cut ice with the people who have suffered enough and seen injustices, broken promises and shoddy leadership.
The issues that have riled Singaporeans over the past decade cannot and will not be easily rationalized and excused.
Let us revisit some of these issues and refresh our minds on why we should not be fooled into believing the news that is being spewed out in the local state media.
1. The widening income gap and Cost of Living
The ruling party’s penchant for harping on the GDP is just unbelievable. The local media trumpet the 14.7% GDP growth for 2010 as if everyone in Singapore has struck gold. In reality, who has seen income growth? The median wage of the working population of Singapore is in 2009 was $2,400. That means more than a million workers get $2,400 or less per month. If each of these workers had to maintain a family of 3 or 4 members, one can see how stretched the bottom half of the population are to meet just their daily necessities. Woe to them if they or their family members get sick and need medical attention. Singapore has a very large income gap – thanks to the government’s policy of importing cheap labor that has depressed the wages of a large segment of the population.
In 2010 there were a total of 464,400 or almost 30 per cent of all active CPF members, earning less than $1,500. As the data excludes self-employed persons and inactive CPF members (those who did not have at least one employment CPF contribution paid for him for the current or any of the preceding 3 months), if we include these persons, the total number of people earning less than $1,500 could well be more than half a million. Singapore has a 3rd world wage structure and the biggest income gap among developed countries. For the bottom 30% whose wages have remained more or less stagnant for the past 10 years, their quality of life has simply deteriorated.
2. Cost of Living
Inflation is currently at 3.8% and MAS says it will hit 5% in the months to come. Nominal incomes of low-wage earners have hardly grown in the past 10 years even as inflation has spiked significantly. What our wages or income can buy these days are slowly are being whittled away, and paring our shopping behavior to bare essentials. Can the half a million workers in the bottom 30% of the wage table really enjoy the purported GDP benefits as touted by the ruling party? Which consumer essentials have not risen in price? In fact retail prices of all consumer goods have increased at between 5% and 10%. And things are going to get worse with oil and commodity prices moving upwards.
Of course the media will boast about workfare and how it helps needy Singaporeans. Does it really put food on the table? Two-thirds of it, if a worker is eligible, will end up in his CPF which by the way is becoming more and more elusive as withdrawal dates are moved back. The average workfare recipient gets only $80 a month. But surely our economic goals cannot be to keep a large segment of the population just above subsistence level? I believe that workers should be paid decent wages. What is so good about an economic system in which workers work full time jobs but cannot make enough for decent living?
The high cost of living coupled with low wages and reduced domestic purchasing power condemns the average Singapore worker to an ignominious, monotonous and stressful working life. Singapore workers have to work harder to earn the same amount of money and save for a longer period to purchase the same product. People just across the causeway get more bang for their ringgit than we with our strong dollar. In 1991, Goh Chok Tong promised Singaporeans the “Swiss standard of living” within a decade. Twenty years later, we have a living standard which is closer to Russia than Switzerland.
3. Singapore’s Purchasing Power
This brings us to the question of how much is our money worth these days. Despite the Monetary Authority of Singapore’s attempt to let the Singapore dollar appreciate gradually over other currencies, the same Sing dollar buys only a fraction of sugar, cotton, rice, HDB flats, fuel and utilities compared to 10 years ago. In reality, the Sing dollar has lost real purchasing power.
Mercer has ranked the republic as the world’s 10th costliest city, even more expensive than Hong Kong (11th), New York (23rd) and London and Amsterdam (both ranked 27th). The property hunt pushed up prices of resale HDB flats by 40% in the last three years, and by 3.8% in the last quarter. In the more expensive private sector, the jump was even sharper – by 7.1% in the last four months of 2009. Moody’s Investors Service said that mortgage lending was accelerating at a rate that made Singapore more susceptible to a property bubble than Hong Kong or South Korea.
According to the report Singapore ranks 43rd in terms of wages. Singapore came in 42nd for purchasing power which is wages relative to the cost of living and Kuala Lumpur is 2 places ahead of Singapore. Singapore is behind Seoul, Tokyo, Taipei and Hong Kong. In 2006 Singapore workers have a purchasing power index of 54.9 (using New York as the base=100), today that figure has fallen to 40.6.
According to Credit Counseling Singapore, in the past 3 months, the total consumer debt in Singapore reached $150B. This figure consists of $111B housing debt and $40B in the form of credit card, car and unsecured loans. It noted that the roll-over credit card debt has grown to a record $4B and the number of credit cards issued in Singapore has reached 6 million a figure that translates to roughly 6 credit cards for every eligible person with annual income above $30K.
4. Housing Issue
Between 1990 and 2009, HDB housing prices increased 400% as a result of the so called Asset Enhancement Scheme. The very mission of HDB changed from one of affordability to one of asset enhancement. Obviously some genius knew that CPF monies were burgeoning beyond the intended aim and so a plan had to be devised to reduce the savings which would have earned substantial interest payments. The original aim of CPF contributions was to ensure a retirement nest egg. But tweaks were introduced to enable withdrawals for investments and other expenses. Approved investments which were touted by local banks to have earned more interest ended up with investors losing potential interests.
Household debt has grown briskly – mainly on account of bigger home loans – to $198 billion in Q3,2010 up 10.7 per cent from a year ago fuelled mainly by cheap housing, vehicle and investment loans. Concerns about Singapore’s credit lines has been raised by the Asian Development Bank (ADB), as real-estate lending accounts for more than half of total loans in the banking system. At 51 per cent of advances, Singapore’s banking sector’s exposure to property is the highest among the nine major economies of East Asia. According to the ADB’s Asia Economic Monitor, this is in contrast to 9 per cent in South Korea, 15 per cent or less in Indonesia and the Philippines, and below 20 per cent in Hong Kong, Thailand and China.
5. Ageing population and retirement financing
Today most households are on mortgage of 20 to 30 years. A 30 year mortgage plan will force Singaporeans to sell their flats for retirement! This is because their dwindling CPF balance will not be sufficient to meet their expenses upon retirement. By allowing HDB prices to increase, these future retirees could then fund their retirement by selling off their HDB flats at high prices and downgrading. This would solve their retirement financing and the government doesn’t need to take care of these aged folks. For those can’t downgrade even if they wanted to, the option given to them is to obtain reverse mortgage or if eligible, obtain a Lease-Buy Back from the HDB. If one dies while still servicing the reverse mortgage, then the beneficiaries have to make good the outstanding payments to the financial institution. In the case of LBS, the flat reverts to the HDB.
One out of every seven HDB flat owners have problems paying their mortgage loans. This seems to be what the statistics have revealed. Last year, the HDB visited 60,000 flats which had problems paying their loans and gave financial counseling to 35,000 households. This is 14 per cent of the estimated 420,000 HDB loan mortgages – or one in seven.
6. Medical Costs
Medical cost has escalated sharply in the past 4 years. Minister Khaw had this to say about the massive increase in medical cost:
“The bottom line : We have good high-standard public hospitals that are affordable because of the 3Ms” – Minister Khaw
Affordable? It reminds us of what Minister Mah said – housing is still affordable after prices jumped by 60% in 2 years. As for the 3Ms, it is full of holes. Many self-employed individuals don’t have Medisave, hundreds of thousands are not insured and for you to get Medi-fund you have to exhaust all your savings, live in a home and have little or no income to pass the criteria for receiving Medifund. Many people don’t know what is going on until they get seriously ill ….then it is too late. There many holes and gaps that people can fall through. Take Medishield, many people are still on Basic Medishield. Basic Medisheld has limited payout for hospitalization/surgery that is now insufficient for the ‘catastrophic illnesses’ because hospitalization cost has escalated. Enhanced Medishield requires co-payment amount that you have to make before Enhanced Medishield will pay you. Many patients, especially those with early cancer, found out the hard way that certain illnesses require many short hospital stays and you end up paying more than a few tens of thousands. To solve this one needs to purchase a rider to cover the co-payment amount – which is another crack in the scheme that people are not aware of.
When Minister Khaw had a heart attack and needed surgery, he paid $8. Many poor people will pay much more than $8 when they get hospitalized. In our system, the richest in our society like Minister Khaw pay less than the poorer members because they can afford better insurance that requires very high annual premiums, that certainly are beyond the poor Singaporean’s means.
7. Massive Influx of Foreigners
When ordinary Singaporeans stand in the voting booth, they will ask themselves 2 questions, “Is my life better than it was 4 or 10 years ago? Will my children’s lives be better 10 years from today?”….in the coming months, the one truth that will emerge is you cannot earn people’s votes by making their lives worse….and this truth will soon dawn on the PAP!
Today, almost 40% of people living in Singapore are foreigners. Who doesn’t feel the negative impacts of the sudden increase of so many types of foreigners jostling for the limited spaces in our MRT trains, buses, shopping areas, food centers, markets, beaches, void decks and walkways? What about the sleaze brought about by the increasing numbers of prostitutes who are on work or student permits plying their trade and construction workers loitering near our homes?
Most new residents have no idea about the Singapore culture , its rich ethnic multiplicity that has brought about a seamless diffusion in the way Singaporeans go about their everyday lives. As a result of the variegated backgrounds of Singaporeans, the evolution of racial and religious celebrations into a true blend of inter-related tolerance and understanding over a long period of time but with the basic belief that this is the country they will live and die in. In 10 to 20 years time, we will be outnumbered by the foreigners who bring with them their own values, motivations, political aspirations and idiosyncrasies. Is this what we want for our children and their children?
Slowly but surely, this government will pander to the needs of the diverse foreign residents. We are seeing this happen – 10 million dollars being spent to integrate the new residents is only the start. In the past we were told we need foreigners for their special skills. Then we were told we need foreigners to create jobs for Singaporeans. We have also been told that foreigners are here to take up jobs that Singaporeans do not want. Now the latest reason for increasing the foreign influx is our fertility rate is low.
So importing foreigners and over-populating our little island is likely going to make it worse – importing foreigners using low fertility as an excuse is going to plunge us into a disastrous vicious cycle….disastrous for locally born Singaporeans who will diminish in numbers but perhaps acceptable to the PAP government that sees Singapore as Singapore Inc so it doesn’t matter to them where workers come from so long as GDP grows.
Conclusion
Recently the MM called Chee Soon Juan and the late JB Jeyaretnam ‘duds’. It was a cheap shot! He knew they were not in a position to sue him. Chee and JBJ are not duds. “The 82 people put in place by his selection system who allowed GST to be increased, ministers’ pay to reach the highest on the planet, foreign influx to be so massive, and rejected the idea of minimum decent wage for workers….these people are the real duds.” (taken from recent blog, sorry I can’t quite recall who).
The PAP government believes it deserves the highest salary in the world. But the performance of some, if not all, of its ministers is apparently dismal. One needs only to recall Whitley Centre, Bedok SMRT depot, Orchard Road floods, Temasek/GIC losses, public housing fiascos, just to name a few. None of the mistakes were admitted, much less any apology tendered.
Bill Clinton, a few years back, warned about people who believe they possess the ‘absolute’ or ‘hard’ truths because it can lead to actions and decisions that are extreme and detrimental to human society.
.
Baby Boomer
</TD></TR></TBODY></TABLE>
