The evaluations of the investor and the economist on how they predict the actual, current crisis..

For those who like economics.

MJ's Billy Jean

In light of the death and the upcoming memorial, and to put his past to rest, this is the late MJ with one of his classics: Billy Jean.



Enjoy.

MJ's Billy Jean

In light of the death and the upcoming memorial, and to put his past to rest, this is the late MJ with one of his classics: Billy Jean.



Enjoy.

The Iranian clergy- at least the Ayatollah and the Revolutionary Guards..

Try and screw the election of the presidency, and the whole of Iran goes absolutely nuts.



Here is the link: Iran protests continues...

That's what happens when you take away the basic democratic right to elect a new President. Besides the results were suspicious. Which proper, true democracy would realise the results 3 hours before the polls were supposed to close? And 64% everywhere, across every segment of the population, including in Mossuavi's hometown?

If the election was truly free and fair as the hardline selected President and the Ayatollah claims, then why are you resorting to hardline force to crack down on the protests, dissent? Don't forget, it was an election that you held and that you allowed people to vote, and in which people were angry at the current one, because of his poor record in the economy, and thus voted against him..and now you say his win is legitimate?

Gimme a break, Tehran.

Susan Boyle gets into the Britain's Got Talent semi-finals...

And below is the video embedded:

No more assignments- instead its almost gonna be exam period

And so it does...

Instead of this:



It is now this:



But at least I can now focus on studying for the exams. Sometimes assignments can be a hassle- especially if they come as one full load.

Anyway I probably will sing this everyday before I leave the house- to put oneself always in a positive mood in the morning:

Photos from Melbourne...

Its a long time coming..but here are a few photos now...






----------------------------------------------------------------------------------------

On another note:

AWARE has voted no to the formerly new exco of AWARE and has re-elected the old exco back into the exco. AWARE had been in a spot of brouhaha over the past month- over differences between the two excos- because of the allegations of a planned takeover by Josie and which was planned by Thio Su Mien, mother of NMP Thio Si-Ann.

TOC has the links Lessons from a fiasco: AWARE Saga

I also wrote a note on facebook on this:
My facebook note on this when it happened.

More pics of Melbourne soon..

After I finish some of my assignments and tutorials- one reason on why I haven't updated in recent days. It would be soon. Meanwhile please do enjoy this video..



KT Tunstall with "Black Horse and the Cherry Tree".

Time for Melbourne for Easter Break!

Alright, guys, I gonna go soon- take a flight out with a few buddies to Melbourne- first to attend a church conference, and then a free-and-easy trip throughout the City and Greater Melbourne region after that.

Easter Break in Australia is about a week long from tomorrow onwards and so its a good time to zip away from the school(but not from project assignments and tests unfortunately; there's always stuff to remind you to keep one's feet on the ground).

Anyway here's a link to wikipedia about Melbourne.

Wiki link to Melbourne

I will post pictures of Melbourne here and on facebook as soon as I can. Take care!

So says Mr. Lim Boon Heng about bonuses..

Mr. Lim defends bonuses.

I guess they are so obsessed with the concept of money, and more money that they forgot everything else. Enough said really.

Well, we have a better alternative to these folks- at least one which is much less obsessed about money, headlines, glamour and glory- and more about putting country and people first instead.

This is what I wrote in a facebook thread about having an alternative choice in the opposition side(I have put them in italics instead)..

For many, many yrs now, the message frm the govt has been: strap up by your bootstraps. You cannot have any help. You must be independent. If govt feeds you, one wud lose their self-reliance and independence, and thought.

The point I wanna make is this: all these are not wrong- in essence. What is wrong is that most pple don't even have an equal opportunity in success to do that. Of course, if one guy comes frm a relatively well-off family, he wud be expected to make his own effort to succeed- because he has the education, the expected maturity and some help from his family when he was growing up. He can pull himself up by the bootstraps because he has access to the tools to do so- without the need of govt intervention.

But not all has the same privilege as he does. Most of us have a deficit in some areas; some of us come from broken families; some were born to working class parents who sometimes couldn't afford many things beyond food; some of us may have a parent or relative suffering from terminal illness when we were born at that time, and hence money was tight; some even may come from single families for whichever reason. These are the pple whom if the govt ignores, and doesn't make access to equal opportunity to succeed, will become an undercurrent of what's the negative side of capitalism, and the attitude of "winning at all costs".

As one of the alternative choices WP has become, and is right now, our role is to serve people, and to serve them wholeheartedly. Its not for glamour or for pride- but its for the pple of Singapore, and the future of this country. We don't seek riches, or fame or headlines, we only seek this to set pple free from their bondages in this country.

Therefore while other parties, or individuals seek to revisit the past, we only seek to find and make what can be and should be a brighter future for all of Singapore and its people. Others may seek to use fear; we seek hope and change. When pple are in despair, we give them hope. When pple are sick, we give them health. When pple are under stress, we give them relief. And when pple are hurt, we give them comfort. Most of all, if and when they seek an avenue to release hurt and anger, we give them our whole attention and our ears and eyes, in order to bring more empathy to this country.

In this time of difficulties, and of rapid changes and of the stresses that these bring, we seek to be the party that understands people, and things, and respects all people and their opinion. We know we are not a perfect party, or an organisation that knows everything. That's why we need all of us- all Singaporeans, and of their opinions, and their evaluations. We seek to empower all Singaporeans, not for our sake, but for their sake. We intend to be the positive alternative to what has been negative in our politics for a long time.

Because in this world, it cannot just be the distant past; it cannot be just about us; it cannot just be only fear. We are focused on a brighter future; we are about everyone; and we are the party of hope and change.

And that's what we want to be, and we want all of us to know. *This is not just our duty; it's not just an obligation; but it is a role that all of us are willing to play because we are part of this country. That's what we shall do, and one which we want to. So let's do it, everyone.*

*I have edited this last line to end it better on a higher note*

The last two parts of the last Slam dunk anime...

2nd part

Management Assignment is marked and finally returned....

And I got 82.5% in total...16.5 upon 20!



I'm glad and happy that God has given me such marks. It serves as an encouragement on what miracles He can do when He puts your mind to it. Now it's time for economics tutorial and later, also some Business Stats 201 revision for the test on Monday!

Newsweek talks about economist Paul Krugman...

Very interesting stuff...

Ronan Keating's "This I Promise You".

Just went through this beautiful love song on my iTunes and I thought I should share a video with this song on this blog.



Cheers people.

Korean Boy sings Marieh Carey's "Tuts My Barreh"--his version..

Touch My Body = Tuts My Barreh? Well at least to this Korean chap and his "Asbestos flaygon!", "tropical priest", "Camel up the Hill" and among other much more unprintable words of his own version of this famous Mariah Carey's song from 2008.

This video has fired up most of the blogosphere: so I thought I put this in here too...



He even threw in the Bee Gees, Gong Li into the mix for good measure! Its very, very funny..enjoy this people! =)

Tests, Hope Perth membership and...I'm just waiting for Easter Break...

Test, tests and more tests. Surprise, surprise: the life of a student. Expect nothing else, no?

Anyway, mid-semester tests are coming up with a MacroEcon test on Aggregate demand and supply- only- coming up. The week after next, on the 6th April, I have a Business stat practical test that has 30% in total for CA marks!

That is a huge biggie test for sure. And after the Easter Break, there will be 2-3 more tests, namely MacroEcons, Management and perhaps Econ Biz stats(I've to confirm with that one).

Still, there's some time, and I have finished the notes for revision for the friday test.

Also I have now become a full member of my current church with the ceremony held on Sunday. Its the first time I have become a permanent member of a church, being a constant visitor (in-out-in-out, and then drifting along during my poly and army years) and I must say I have no fear in this, even though it seems new to me.

"Not by might, not by power, but by the (Holy) Spirit"- Zechariah 4:6

Anyway I also have Melbourne to think about- although I probably will bring my notes from management & econs along, stuffed in my carry-on bag, just in case. Being in Melbourne for the first time in 20 years..being in the OC for the very first time...there's always a first in everything, and its something I look forward to, during the break!



Anyway I have to go now...talk to you later, soon...when I can!

Marketing, MacroEcons, Management, Econ Biz Stats and Biz Stats

And that's what I'm studying right now this semester.

Update about the chapters now I'm studying:

Marketing 100- Consumer Behaviour Part II
MacroEcons 101- Classical and Keynesian economic theories(this week and next)
Management 100- Organisation Culture & Environment
Econ Biz Stats 101- Normal Probabilities(advanced)
Business Stats 201- "As above"- just more basic.



All subjects have their degree of difficulty- although I view theoretical subjects more of my strength simply because I understand and remember them better. As for maths, I'm not terrible in it, neither am I exactly good in it. As long as I get over them asap, I don't mind doing them now this semester.

....that is, if I can stop myself from falling asleep during the lectures of the last two. I now have new found respect for Econometric economists though; these guys are just maths wonders. How they do it is still a science to me, but they do things pretty good. Kudos to these guys.

Too busy and not much time for other things...

Sorry chaps, but I've had been busy the last few days with my tutorials, a pressing Management 100 project that has 1500 words- dateline wednesday- and a driving lesson on Thursday night as well.

I will be busy for the next few days and work my way through to finish this Management project. I have to edit my project, which has two more sections, a SWOT analysis and a conclusion, from currently 3,500 words to 1,500. So you know I have a lot of work left to do.

Also, referencing is needed- otherwise my stuff is considered to be automatically of plagiarizing of other people's work.

I also need a printer now, especially when I don't have access to Curtin University library's printers and the ones at Canning during the weekends. So I need to buy one.

Anyway, I have to go now. I will leave this video here for you guys. I will chat with you guys later..

The Surprising Short-Sighteness of The SG Govt..

Just over a month ago, Finance Minister of Singapore, Mr. Tharman said in an interview with Bloomberg news that Singapore's model of growth- through exports mostly, with banking and construction of real estate also playing major roles- which has been the forefront of the Tiger growth in recent decades remain sound and will remain the main policy of the current government.

The ST has an excerpt of this interview and its over here.

But in the past week or so, Time Asia had another article about the Asian Tiger economies and reviewed how much exports almost dominated economical growth in the last few decades, and how inflated consumer spending in the West has led to an export, banking and construction bubble over in these Tiger economies.

The article is here.

I think, as a student of economics, one must always, as an economist, see the bigger picture, and to use current, and later data to not just predict this year, but the years ahead in a realistic fashion, and factoring in unpleasant stuff like risk of high unemployment, high inflation rate, unrealistically low unemployment rates in relation with interest rates, and inflation, and the amount of flow of migrants and immigrants, in and out of the country.

I think a country cannot sustain itself if it hitches on an economic model and expects it to go on forever and forever. And neither should it encourage everyone else to spend and spend, and then also promise more "Golden Years and/or periods, without any evidence whatsoever, and without considering the "what-ifs".

An economic policy that depends on economical bubbles is not an economical policy; instead its just an ad-hoc initiative that takes advantage of a sinful human habit(that is greed) and make it as if its gonna be our magic pill of growth forever.

Its clear that this government has lost its way in the economical front for a long time. They have had continued to encourage bubble growth by easing credit access for couples, even though they cannot fully afford the costs of these loans, CPF and banks in the first place. They have encouraged rich foreigners, to buy and sell, local landed properties without as much as any sensible regulation to stem any bubble; they have privately liberalise the banking industries by allowing rich foreigners to put in money here, in the form of savings, Swiss bank-type accounts, and in hedge funds the like; and then they allowed inflation to rocket sky-high, and even worse, didn't give the full picture of the amount of inflation in the first place, and the impact of it on citizens; didn't give the full picture of unemployment rates of local citizens in the bubble years; and finally only giving ad-hoc credit to some of the most vulnerable on a year-by-year basis, which is only not just inadequate, but also insulting.

And we haven't gone through the problem of GIC and Temasek investing in Western banks and losing more than tens of billions of dollars in taxpayers dollars.

To see Mr. Tharman, an esteemed economist, use his position to insist that the politicised economical model is still viable is simply stunning and shocking. This government either can't bring themselves to recognise that their model is now dead in the water, or they are just blind, and deaf to everything else that is happening around them.

It is sad when they don't realise it. It is sad when they refuse to recognise it. And its even sadder when they think that such a self-indulgent economical policy still has legs in it when its clear the days of such are long over.

Thus, to say that they deserve a chance to get it right, and to trust them fully, and completely- when they have clearly not kept their word is wrong. We should have known. And that's why if there's any snap elections in Singapore this year, let it be known that they cannot have their way anymore.

Its time to restore Parliament to its rightful place, and not make it be a rubber-stamp, yawn inducing institution anymore. Let us herald in a new era, whether the government likes it or not. Its time for transparency and accountability and the opposition will play their role if you give them a chance and trust them. Let us not waste this opportunity in these times of crisis to do something good for the future of our people, the future of later generations, and the future of Singapore itself.

Let us go and change this world. It is time.

Jon Stewart slaughters CNBC...

The method is sarcastic and vicious, almost not most people would want to do, but Jon Stewart proves a point about Santelli's recent outburst on the Obama housing scheme to stem the rate of foreclosures.

The Daily Show With Jon StewartM - Th 11p / 10c

CNBC Gives Financial Advice

Daily Show Full Episodes
Important Things With Demetri Martin

Political Humor
Joke of the Day

CCM Iron Chef event!

I was organising this event for Hope Perth's Campus Christian Movement at Curtin..and it was the Iron Chef competition, and it was held earlier today.

It was a great day in all, and pretty tiring. We have had fun, in spite of all the tiredness, and I hope we all can do something better in the next event! Below are a few photos..


We woke up at 6am to go to Market City to buy fresh produce. All legal and no GST included! Btw the person there..her name's May Yan. She's the CCM President.


Cooking time for...blue team!


The three judges are starting to look serious....at least they are trying to do so, haha!


Slicing and dicing thru the veggies and fruits.. something I'm not naturally blessed in. :P ;)


My team members, and our official chefs in the red team. I just help out..coz my skills ain't at that level. I supply more of the raw stuff hehehe.


All of us- including me trying to be a cowboy..but ending up looking like a dork. :P ;)

All photos are courtesy of Joanne Liu, a dear friend of mine, and a fellow Vickery House stayer. Thank you!! =)))

Where should I go...when I do graduate from UWA?

I am finishing up my biz stats tutorials and I did realise that I went to the Job fair near Curtin University- the closest one near my college and I picked up a few things about being a WA public high school teacher in economics. And as I was wondering..should I be..

This?


Or join this government organisation back home?


Or become a nerdy economist and be the pain in the bottom for everyone else? ;)


If you were me, what path would you choose? =)

Someone says one thing 2 weeks ago, another says an entire different thing

2 weeks ago, the Singapore Health minister, Mr. Khaw suggested that because of high costs in putting old folks into old folks homes in Singapore(as if that's a good suggestion to treat one's aging parents that way in the first place), S'poreans should consider putting them overseas over in JB!

S'pore Health Minister suggests JB as a location for S'pore old folks

Now, however, the former Prime Minister Mr. Goh Chok Tong said on saturday- coincidentally, perhaps?- that S'poreans simply shouldn't do this, and neglect their filial duties to one parents.

Link

So now, what is the government trying to say? Does it endorse old folks home as an option? And even better(or worse), trying to locate them in JB instead? Is it how we treat our elderly, and in effect, our parents?

If money is the only consideration, should it be the only one? I believe in the tradition that the younger generation has to take care of the older one, especially of those whom are retired. Its not just a duty or an obligation, but one of deep moral principles. In this case, whether or not the government says one thing and says a different one 2 weeks later, I think its clear that, while they have their own reasons in stating so, we the people have to deal this problem in the best way suited to our own circumstances, and in line with the moral principles we have in general and share.

In any case, the welfare of our elderly is paramount. The health of our elderly is paramount. More can also be done for those elderly people who are still working, especially those in menial jobs, getting low wages. We cannot outsource just because of money- because there's a deeper question in that when we just do something convenient because of money.

That has to be crystal clear to us.

Why do I choose Economics?

Here in Australia, I have already did sign up for a BA in Economics in UWA over a year ago. It's been pretty quick, with a year zipping past and leaving little trace in studies wise.

It has also been 3 months since the summer started, and the holidays have also ended last Sunday. And while people do understand why I do economics, there are a few who do not, or think that accounting would be a better choice.

I do respect these thoughts, and certainly from certain angles, certainly I sincerely empthise why a lot of my peers do accounting. I certainly don't judge them because after all, perception, personal and professional, are not about rights or wrongs. They are opinions after all.

My reason to do economics is borne out not just of idealism, but also about realism. People have dreams and I'm no different. Everyone would like to do something, and hopefully people around them- at least family and friends- would acknowledge it or them. Increasingly, however, the facts of life have harshly also set a reality that one cannot ignore.

I believe economics do serve a purpose, a useful purpose, let it be during bad times such as this, and during the good times. Economists always have to see the long term and use current and past numbers to justify them, and to see through corners so as to forewarn out-of-sight punches that may come our way(in this aspect, we are no different from accountants in these goals).

Economists also have to see the truth, and use verifable statistics to show the people, the country and even the world that the state of the economy is something not be taken for granted. To tell the truth about upcoming pot holes- if we aren't careful- is important. We should say it as it is, and don't shy away from telling the truth diplomatically and in a realistic way.

No matter what political stripes each economist is, or which economics lecturer he or she is, I hope we can do something for the people around us, and the people around the world. I hope to transcend differences in politics, sociology, ideology.

To do economics is something that I have choosen, and its something I would pursue in not just my degree but in the career I will have in the future. That's why I choose economics: not for myself, but for those I serve around me, in any country, but especially those of my own.

That's what He has asked me to do, and I'm glad to follow.

Time to go to the Gym! And the Coles supermarket...

Yes. The Gym. And yes, the Supermarket

The fact of life is that when you live independently overseas or alone in your home country, you have to do your own stuff, including groceries, and clothes(washing of). The gym I go, besides Fitness First Intl, is the local gym run by the Curtin Student Guild at Curtin Uni..which is 15 minutes of walking time away.

Then I will go to Coles at Karawara- a picture is below to show what a typical Coles supermarket in Australia looks like- for some weekly shopping- milk, bread, the like, and some fishballs et al.



Oh yes, I just started school today. The date is 23rd Feb 2009. Is it a great day? Well, with such Aussie summer days..what do you expect? Anyway time for the gym. Cheers for now!

Back in Oz...since Monday...

And I'm back for my studies. Can't admit I don't miss Singapore and my friends, and family though- not.




The fact is that if I say I don't miss Singapore, I would be lying, and God forbids that. I miss my family, my friends, and my relatives, all whom I love because of blood ties, friendship and of tight bonds.

I still have a life in Australia though, and its a privilege to be here, studying, understanding the fact that many of those whom I love would want such a privilege as well.

Its my duty to not just do well study-wise, but to develop a fuller, wiser character from this experience. All else I laid upon Him for His wisdom, including my future after I finish my studies. There's no ambition of mine without His approval.

I will see you in a second, guys.

A video post of a song I love

Nice, I feel. I love it when I hear it all the time.

Spending taxpayers money on infrastructure is socialism? No, more like..

...if its abused, then its more like political pork, not socialism.

I have always been amazed by the arguments of a number of neo-conservatives who argue that, in all cases of government spending, all of it are bad, and all of it are a sign of socialism.

They forget that because the first rule in economics that not all sectors, and not all industries can be completely be covered by the private sector because of the economies of scale, and for realism. For example, to build roads for all to use, only the government can use government's taxpayers' monies to give to road construction companies(which successfully won the bid) to build them on a massive scale to faciliate movement of people quicker, and faster. This helps commerce since time is saved. And private companies can't build such infrastructure because they don't have enough money to build on a massive scale, and they cannot realistically ban anyone from using it if they do have the resources to go massive.

The same goes for the laying of higher quality of broadband internet cables, that helps expand the base of people online to do business online. The same goes for airports and roads and mass transits, where companies like Fed- Ex, DHL, Emirates, American airlines, Virgin, SIA, and Cathay, all profit based, can function well and transport goods and people on a massive scale.

In the end, its pretty clear that government here doesn't serve as a socialist bulwark. Instead its actually a faciliator. It helps to lower the scale of costs of infrastructure that helps the private sector to do business with each other and with consumers. Instead what this is all about is actually about pork and abuse of taxpayers money.

So all of these have to be transparent and clear, and be made available as public knowledge, online and offline. Parliament should have a check-and-balance authority, shared by the judiciary from the lower levels right up to the Supreme Court. And if there's any abuse, then its possible that any citizen who has the justified peeved feelings and have the proof can at least file a suit in that effect to rectify the situation.

This would reduce chances of people abusing the taxpayers money for any initiative, and also restore trust by people towards the system the government is running for them. Political pork shouldn't be in any package of infrastructure or even in any tax credits/cuts and rebates available in the annual budget- and governments from near and far should realise this.

President Obama moved by homeless woman; help flows in after town hall finishes..

Here is the video, when a homeless mum, asks President Obama in a town-hall meeting at Fort Myers, Florida about what his plans will do to help homeless folks like her. The videos are provided courtesy of youtube and CNN.

The District: Barack's friends Let Him Down

A continuation of the spoof show on the US telly networks, by Newsweek, called The District, starring the Obama administration.



=)

Temasek loses 31% of their investments in overseas banks such as Citibank and Merill Lynch

News report is right here

Again, it goes to show how a politicised investment firm, a company which has deviated from its main purpose of being a parent company of several state-owned firms that run natural monopolies such as public utilities, and public transportation, makes business decisions based on political considerations.

A company such as this should have never gone into investment, period. I oppose such moves in the past, and I oppose it now. This is wrong, because these monies came out of our foreign reserves- our precious taxpayers dollars. It's morally wrong because we trust that the government would manage them wisely- which they have not. Instead what we have now is the government doesn't mind losing US$39 billion in their overseas "investments" but refuses to extend tax breaks, and other breaks to curb rising costs in the annual budget for both the businesses- small and medium sized ones especially- and to those who are especially vulnerable in a severe downturn: the women and children, the sick and handicapped, the already very poor, and working and lower middle classes.

We need to go back to the basics and restore the main priorities of Temasek. In addition GIC is probably also even serve less than a purpose than Temasek itself. Whether or not should it exist even as an entity is up in the air by its own self.

President Obama's first press conference in the White House, Monday Night..US time

The video is below:

Bloomberg predicts a -10% shrinkage of the Singapore economy due to deepening falls in export volumes to the US...

Link is here: Singapore Projected to shrink by 10% in 2009 by Bloomberg News

Its projection is also 5 times worse than MAS' prediction. But again, looking at how MAS had to revise 3 times for their projection, I don't trust them as much as the analysts working for and working with Bloomberg, a reliable business news channel.

In my opinion, we have to be prepared for the worst, and not sugarcoat reports with the false intentions to mislead people that this, one of the worst since the Great Depression, is actually a minor one when its not.

This also is serving a notice to Mr. Albert Tye who wrote to ST, saying that the recession is not serious and thus we can ride it out. I understand his concerns about using the reserves, but the main goal here is to stem the tide of this serious recession that will hit us at -10% for 2009.

This is also a warning to Mr. Lim Swee Say, who insists that the Job credit scheme will save jobs. President Obama scrapped his own plan- he thought of this idea first, and not Tharman's civil servants- for a good reason. And we worry that this Job Credit scheme is merely political pork money. Lim Swee Say thinks he's such a smart guy, but again, I think he's being overly intellectual, but not street wise to realise that there's more factors at work here than he knows.

So much for the Job Credit scheme

Well, according to sources, which I have read from a few Singaporean blogs, this Job Credit scheme, which was claimed to be a new idea, is actually not a new concept. In fact, during the course of the American Presidential campaign against John McCain last year, then-candidate Barack Obama suggested that the government would give $2k to $3k to companies who retain or hire new workers during the recession. It was later scrapped because many Democrats in Congress, in the first week of his administration, said that it was tough to ensure which company did or didn't retrench or hire, and thus almost unworkable. Besides it wouldn't help ordinary workers because the money would go to bigger companies first, and would have little chance of trickling down to ordinary workers.

This is also beside the fact that companies would rather retrench workers- that save them say $2000 per employee- as opposed to saving $900 to retain one. In the end, the bigger savings of $2000 is more than the $900 the government is willing to pay.

Anyway Mr. Low had severely question the credibility of the problem. Unlike the edited version that ST has provided, these three videos give the full context of what Mr. Low of WP has really said in Parliament yesterday about the Job Credit scheme. Needless to say when so many people come out to hammer him, its not because they are right- but because they fear the truth and they fear Mr. Low.

Below are the videos anyway. I leave to you all to judge for yourselves.

DBS' CEO is now cancer-stricken....

Link is here

Which returns to the fact that why wasn't he medically screened properly in the first place? Now investors wouldn't be feeling confident, savers would be worried, employees anxious and surprised and the people will be wondering what would happen later. There's a clear sign that the management has not done its job wisely, and one would wonder if the appointment of CEO Stanley was really made by the board or by political special interests which are beyond the Board Of Director's power.

Changi Airport faces corportisation...

The picture and news are below as such:



Changi Airport authorities are taking first steps to corporatisation

My opinion? I have qualms about it, although I understand why some people think its better that way. My belief is that however there's no other body, even privatised government corporations who can run airports and keep prices affordable and available for all users. A privatised airport corporation however, will increase prices- because at such current rates of charging- and considering the overall maintenance, it's not profitable for any company, state-owned or otherwise.

But a higher price for profit reasons means many people would be overcharged. And this means that people will pay less or travel less for their holidays and this would affect business in the tour companies, in the service restaurants at the airport and affect foreign tourists coming in as well. And that would lead to even more retrenchment across the board as a result.

This also goes in the face of what MM Lee said after the Budget was unveiled- that is, that the government, ran by his party, has now have to save jobs as its main priority. But to privatise is to go against all notion of saving jobs in the industries that depend on cheap travel, and would only make the economy worse, and get us back into a even more vicious cycle.

The government should reconsider immediately, especially in light of the global financial crisis. This is not good for anyone at all.

The Late Night Talk show hosts in the US..

...have a field day with disgraced Ill. Gov. Rod Blago, who went on US national TV networks to protest his case.

The video is below, courtesy of Politico.com



=)

Well on to fashion..

And no, I ain't going into President Obama's GQ suit look. It's almost bespoke and he looks good in them. And that's good for any guy- to wear a suit that suits his frame.



But its the Obama girls- Michelle included- that is raising the frenzy for mums and for American designers(all of different races, not just white btw) and shops that had supplied the Obamas with these wonderful clothes.

Fox News has more...the link is below after the jump

The Obama girls ignite a fashion frenzy!

The problem with the budget...

is not just about the details, but also about the timing.

First let us talk about the timing, which I think its very important. The question I have in my previous post is basically about timing, which I have stated is pretty late, and as a result, the possibility of it being ineffectual is very high.

After all, while other governments overseas have re-installed the regulatory system or fine tuned the system so as to shore up long term confidence in the economy for overseas investors and for people domestically, the government instead has had to deal with the minibonds uproar, and it took them more than two months to consider some form of compensation, and some form of discussion within Parliament to put in some form of regulations.

In the economical front, a 2 to 4 months gap is a long one, and doesn't instill much, if any confidence in the economy both domestically and overseas.

Second, this stimulus package is late. While countries like Australia were putting in stimulus packages, in the form of direct tax cuts/rebates and infrastructure spending since September 2008(4-5 months before), the PAP government hesitated and then refused to(by remaining quiet). Instead it forced more companies to consider more retrenchment, more wage cuts, and then allowed the civil service to increase business costs, bureaucratic costs. The example of high rents for the shops at the Singapore Flyer is one such example, where policy direction has gone wrong. And when more small businesses shut down and when more bigger MNCs retrench people, there will be not just more unemployment, but also less productivity.

But more importantly, people's self esteem and morale would be hurt. And when these people are re-employed, some, if not many, will get jobs that pay way less than their previous ones. That means they have to get by with much less, and bring up a family with much less. Their new jobs will also be less secure, since many of them are of more menial nature, and are probably temporary or of contract.

And if they have kids, long hours for lower pay, affects the children as well, especially if a parent isn't at home at certain times to ensure that the child is studying, and doing well physically and in his studies in school and at home.

In short, all these have condensed itself to the point where Singapore had to revise itself 3 times in the economical outlook for 2009- embarrassingly. And now the government has had to announce that this country suffered a shocking -12% shrinkage in the 4th quarter of 2008, with manufacturing and exports suffering one of the biggest drop-off in recent decades.

I leave you to decide whether this government has done enough adequately, when its clear it hasn't.

And on, on to the second point:

I think stimulus packages only work effectively when two conditions are present: One, they must be done at the same time, in co-ordination with other countries; second, when the money going through must go to those who need the most, and not to those who don't need it.

For example, I have said in my previous post that if tax cuts and rebates go to those companies, especially state-owned ones, instead of independent SMEs, then these tax cuts are effectively pork and will be wasted. You'd be just throwing good money after bad in a financial black hole.

Similarly if you give most of these tax rebates to the rich, instead of the middle and working classes, then its not just pork but also for the fact that the money given will not be cycled back into the economy. If a supergrade civil servant decides to spend his tax rebates in London, instead of in Singapore, then who benefits from that exactly?

And as a sidenote, while SMEs deserve to get low-interest loans from the government, businesses and banks will not loan each other's money if banks don't believe that the businesses will be able to repay those loans eventually. Confidence is something hard to build and cannot be built in a day. That's why re-regulation, common sense regulation is needed to restore accountability and re-open transparency, which would help shore up respect, honesty and trust. In turn banks would start loaning more money knowing businesses would eventually repay those loans.

Until this government does all of these things, I do believe there is some justified professional doubt on whether it'd work. On the surface, its Keynesian economics, something I believe that what's needed in these difficult times. What I agree on theory though shouldn't be viewed however the same in terms of application. Because if the government doesn't reform the system, then a politicised budget 2009 that gives more pork, covered up as a stimulus package, will only damage the economy further, and make us even more exposed to any recession long after this one has ended.

The Budget for Singapore in 2009..

Why this Budget could be flawed- despite its best intentions by the government...

I do support this Budget- which was announced this afternoon- by Finance Minister Tharman, in principle. Still I have some qualms about it. These are the reasons why:

1. I think the Budget was too late. They let things go on as it is until now. Other countries had passed an emergency stimulus package from September 2008 in a bid to shore up the economy and to restore confidence, internally and externally.

This meant that while other people in other countries got their cheques early, and saw more infrastructure(and more home insulation being installed) being built, our government has effectively sat on their hands and let the 4th quarter crash into a -12% recession.

Its symbiotic because the government is ran by an 85 year old, who probably doesn't know this recession, if left unchecked, could be become just marginally off the levels of the Great Depression. It could be he still doesn't believe that the recession would fix itself by the end of 2007.

2. We don't know if the current stimulus package is politicised till the point where most of the money becomes pork and goes to those who have supported the PAP openly. Money should go to everyone including those who have not voted the PAP in past elections- this is because everyone has to spend a bit and save a bit to keep the economy above the water. But if its given to the rich and the well connected, then this money wouldn't be returned to the local economy; let's put it in this way: if another civil servant brings his sons and daughters to spend a free $50k rebate on classes with Jamie Oliver in London, UK, then obviously Singapore and its people wouldn't benefit.

The same goes for any child who don't receive education bursaries for local studies at home, but for a Supergrade civil servant's NSF son to disrupt his NS to go to MIT for his uni course.

The same goes for infrastructure: building a handicapped ramp in a poor estate has more impact than say building a 5 storey car park in a well developed, but not a well populated one that has already 6 of these, and which all remains pretty empty.

3. Not enough has been given to those who need the most- even if there is, is it enough? The government is known for its switch-and-bait and/or delaying tactics- making sure that when people receive $500 in tax rebates, the people will end up paying maybe 5x more when they increase living costs, rental, utilities as such. If not they will insist that the people have to put in a precious $100 into your CPF to receive $1000 in CPF funds- which you can't take out.

And then there's the bureaucratic waste when you have to apply for bursaries and such. With a country which is so technologically equipped, compared to the US, and Australia, surely through the income tax submissions, the government should have each and everyone of us in their data, knowing how much we earn and how much do we pay(or not) in income taxes...and in other form of taxes? Then why insist everyone has to apply to see if they're legally able to do so? That only delays time and time is money. If everything is computerised as they insist they are, then spare people, especially old and uneducated ones, from these paperwork, and directly use these computerised data as a way to source out those who need the cheques, job training etc and those who are not or cannot. It saves a ton of trouble, gets money into people's pockets faster, and reduces the chances of the process being politicised.

President Obama press conference after Executive Orders signed for ethnics, transparency and pay freezes

This is something we should all emulate in our own countries.

With the swearing-in of President Obama in the US:

The world not just welcome a new era, but an age where people realise that when all of us serve the nation, the nation will be better off, regardless of race, sex, religion or political creed.

With this, I would like to acknowledge the words of some government ministers have said on Monday in regards to not just the behaviour of some civil servants, despite these difficult times, but also to acknowledge that civil servants had to sacrifice some of their financial benefits, like almost all ordinary citizens who has had to suffer job cuts, wage cuts and a rise in living costs and expenses.

I may have some professional disagreements with the present government, but all due credit is deserved for the words that some prominent ministers have said, and I hope they continue in this vein for a while more.

Also, while we enjoy a new day from this day onwards, the 21st of January 2009, we also have to not just do the above, but to also set aside cynicism, and help our country and our people in every way we can, in good times and bad. This country is bigger than any person, or any party, or any group. Above all, we are Singaporeans, and we serve one another, and we make sure we will serve not just one class above another but for all.

Only then can we not just get out of this recession, but we can build a better foundation, and a better and brighter tomorrow.

The issue of national security

Just yesterday, Mr. Wong Kan Seng, Minister of Home Affairs, in Singapore gave an interview that focused broadly on the goals for 2009, and the security concerns for this year.

While I do agree broadly with what he says, I do however have some questions. First up however is that I don't doubt his sincerity. I do believe that he does have the country's interest in his heart, and there's no doubt that in 2009, due in part of what has happened internationally, that our security remains one of the most paramount concerns, and we should not let our guard down, whether is it cyberterrorism, or is it terrorism, and the fight against extremists.

The question I have basically is this: in light what happened almost 12 months ago, in the case of the escape of Mas Selamat, what Mr. Wong did didn't reflect the tough words he said. While it is easy to say, its not easy to do. And the fact is that the prisoner wasn't put under full observance, not completely under surveillance and was allowed to go to rooms to do whatever he was pleased. The structure of the detention centre was also significantly compromised, which would give an open invitation to anyone who has the audacity to try. Besides the appointment of the director of the department comes under him, the minister of home affairs. And if the director agreed to put Selamat there, then the Home Affairs minister would have known and agreed to it.

And then in light of the escape, the Home Affairs ministry didn't fully issue a full bulletin that had the full description of Selamat until 2 days after he escaped. In this day and age, where people just need to board a boat or a plane and be on the other side of the world within 24 hours, the response in catching was too slow, and hence the search for Selamat in the next two, three months were simply too little, too late.

I compare the political response to the one in India after the Mumbai attacks in November 2008 later, and I know the Minister in charge of the interior- equivalent to the Home Affairs- resigned in disgrace, knowing that the Mumbai attacks was a failure because he was also in charge of the intelligence services, which didn't detect any plans by terrorists until it was too late. If the Indian side can resign to take responsibility, why didn't our minister do the same...because it was under his watch when it happened?

In the end, a politicised Home Affairs ministry compromises our national security. Mr. Wong has his reasons to stay on, and while I respect his position and his stance, I do not fully agree an apology is sufficient enough, even 1 year since it has happened. As such, Mr. Wong's words don't match his actions, and I'm afraid there are questions that has to be asked about his leadership.

At a perilous time such as this, its time Singapore have a Minister of Home Affairs who's fully committed to protecting Singapore's national security and her people, rather than one who has been so keen to protect his own, till the point he somehow compromises Singapore's and her people's.

Paper and Glue by Scottish singer Emma Pollock..

Enjoy this, as much as I did, recently. =)

I do not condone violence against politicians and public figures..even those whom some(but not me) may detest..

On hearing this report on the attack on MP Seng Han Thong, I was pretty shocked at the news. This is because I believe that there are many other ways to register one's feelings, positive and negative, in a way that resonates among people and is heard and understood by the person him/herself.

Therefore this sort of violent incident is not something I would condone at all. I believe that he doesn't deserve such an attack of such a violent nature, and I think it makes us all poorer for it.

My regrets goes out to MP Seng Han Thong for this attack, and I wish him a speedy recovery.

His picture and the link are all below after this:



Singapore MP set on fire in bizarre oil attack

An article from The Guardian of UK's Polly Toynbee about charity

And welfare.



The link is below:
Thank Goodness...

My opinion is this:

I believe charity is useful. Charity to help the elderly, the sick, the poor, and the handicapped are useful, and always should be encouraged. They do play a major role in helping the disadvantaged in areas government sometimes cannot reach.

In respect in saying this though is the recognition that in light with what has been said by the columnist in the newspaper, we also have to recognise government has a role and responsibility to support and to help poor, disadvantaged people as the first resort, and as a partner with charity and non-government organisations. To not do so, and to outsource this responsibility to the charity organisations and NGOs is to abandon its role and guardian to general society.

As such, I believe the government has to be responsible to its people. It is after all, elected by the people, for the people and with the people. And with that, we have to realise that efforts cannot be ad-hoc, but be comprehensive, and to address welfare issues when other charity organisations cannot because of a downturn in raising charity funds from tycoons.

Paul Krugman's latest NYT column: The Obama Gap

And here's the link:
The Obama Gap

What's he saying basically is that the U$775b is too little, and has too many tax cuts to be effective. Is he right? Or is he not?

Obama's girls become the centre of attention in the morning, while the important news waits...MSNBC..oh dear, MSNBC.

The Daily Show With Jon StewartM - Th 11p / 10c

Ordinary Pupils

Barack Obama Interview
John McCain Interview

Sarah Palin Video
Funny Election Video

I guess when the 24/7 media has nothing else to do, they become a bit like the paparazzi also. I mean, Sasha and Malia are just going to school, eating the normal food, bringing their favourite toys....and yet, they don't seem to give them a bit of privacy.

I love this live version of "Original Of The Species"- by U2.

Lovely. That's why I love music concerts... live!

The Mess in the US Senate...Jon Stewart comments..

The Daily Show With Jon StewartM - Th 11p / 10c

Crisis in the Senate - Deliberative Disorder

Barack Obama Interview
John McCain Interview

Sarah Palin Video
Funny Election Video

A personal note: Macintosh hardware specs upgrades...

I just went to the Apple Store a couple of days ago to enquire about the prices of upgrading my permanent hard disk memory space and my RAM.

Because of my Macbook being part of Apple, and that I cannot upgrade at a third party without voiding the warranty, I had to go there.

- and boy did I get a surprise, and not of the good kind. More like more than a bit shocking. This is because it costs $900 to upgrade the RAM from 2GB to 4GB and the hard disk from 100GB to 150GB.

Also, in part because of my Macbook that now has the Intel chip installed, my laptop is able to run Vista. But my Vista hard disk is only 25GB, and I need a higher amount of hard disk space, and because Vista consumes more RAM, I need more too.

But in light of the overall costs, I have to consider much more right now. For now, Vista will probably have MS Office 2007, Quicktime and an anti-virus/fire wall program. All games may be off until I have found a solution to this.

As we enter into 2009...

This year marks the 50th year since Singapore achieved self-rule in 1959, when the British ceded control of domestic affairs within the state of Singapore, allowing themselves only the affairs of self-defence, and in foreign relations with other countries.

1959 now looks like a distant star away, and as it is, Singapore has long achieved standards that seemed a twilight away from what the then generations thought to be unachievable. After all, in the history of nation building and in general history, 50 years is a speck compared to the thousands of years some countries and cultures have been in existence since time immortal.

Its with this extraordinary achievement that Singapore has done within 50 years, that credit must be given to those leaders and citizens who have worked so hard to let the later generations compete in this world that we now live in.

Thus, the ruling party must be commended for what they have done so far.

In respect in saying also, we must however understand that while we have achieved so much in so little time, we also must cast an eye on our future, and take note of the current situation. Because the world of 1959 and 2009 are so different and vastly apart, the situation has changed, and the solutions have evolved.

And to better manage these vast changes, we must know that the old standards in which we compare ourselves and our country to has also risen, ensuring that while we may look stronger in comparison, compared to those who are vastly in front of us, in all areas, we still fall short.

The main reason on why we are still not there compared to some of the western countries, and developed nations in East Asia, is because of a few things: we don't have a real culture. We don't have the freedom of tolerance to tolerate people of different ideas. We don't have the environment to cultivate creativity. We are too much of rote learners to understand that different ideas taken in a different direction can sometimes lead us to the same path.

Thus, in this age when there's more roads to progress, and more countries trying out these different roads to progress, Singapore will lose out if we think the same path, that we have taken for the last 50 years, will help us keep in pace with these other countries. We know it isn't true, and we have seen that in 2008, when our own economical, social and political security has been damaged because of the recession, and because of some notable incidents.

Still, let us be clear: Singaporeans, all of us, we want stability. We want peace. We want low crime rates. We want a place where our jobs will not be threatened, and where our families will feel safe and secure. We want to have enough money to buy food to put on the table, and to service our homes. We want our own people to feel safe in turbulent times. That's all what all Singaporeans want, regardless of race, religion, sex or origin. And we want all parties to deliver on this, whether are they liberal, conservative or moderate.

This is what is about, and we will make that promise to ourselves that even as we change in the weak areas that we have, we will deliver the former. But beyond that, we must also realise that being leaders, let it be in society, let it be in politics, let it be in companies, or in foundations, being a leader means being a servant to those who are your sheep. The best leader serves the people, and not vice versa. And as they serve their people, they know that they need kindness, they need maturity, they need the values of mutual respect, they need to understand that one can disagree without being disagreeable, and they need to understand that equality and brother-and-sisterhood are so paramount virtues that if they abandon all of these, then they will not be leaders, but merely sheep.

So as this country marks the 50th year since Singapore achieved self-rule, let us not lose sight of what we have yet to do, and yet to see. But as long as we the people start participating in our democracy again, and as we elect new leaders to restore accountability, and transparency and to have the said virtues that was said above, who knows what else can this country of ours do in this year and beyond?

In the end, though, this country, to be united and strong, we must lay down this basic principle of brotherhood with this phrase, "I'm my brother's keeper, I'm my sister's keeper." and to practice this passionately.

2009- and a Vision for this country.

As we step into a new year, Singapore is on the verge of hitting a crossroad in its future. The year of 2008 has been a crushing, grating impact on Singapore, and especially on the economy.

The incidents, and actions of 2008 that has led to questions about national security, food security and financial security has been many and a jarring reminder that while others continue to insist that everything would be okay under them, many others are reminded that reality often doesn't agree with such a narrative.

But in the ashes and dust of the previous year, its often said that where's roses will start to bloom- but only if we do something different right now.

We don't basically have to continue the way we are. In a new era such as this, its imperative that we realise that in order to bring about change, we need new leaders who will have the background, and judgment to bring about change, and to put in accountability, respect, honesty and shrewd judgment that has been lacking in spades in society and government for the last few years.

And if current leaders only know how to reminisce about how effective they were many decades ago, but doesn't speak about how would they deliver for our children, and our parents in the future, then questions should be raised on whether are they ready to continue as our leaders at an age when they are probably now obsolete.

In the end, we vote in new leaders not because of what they have delivered in the past, but on the promises on which they will deliver for the future. The past only serves as a guideline; but an election is based on the future.

That's why we are now at the verge of a crossroads. Singapore can either go back and dream of the days that have long passed, or look forward to a brighter future ahead, and trust in a new group of leaders who will put their trust in the people to help deliver on the promises they have made.

In the end, we want new leaders who can be our brothers, and have a "citizen-government" view and have practiced it with conviction. And that's what I hope Singapore and Singaporeans will strive for in 2009.

New Year's Day...2009

=)