The two events that shocked the world. Big banks collapsing and tainted milk.
Both events have caused chain reaction. I didn't think such a great effect that the issue of sub-prime market will have on the financial industry. But after thinking a little deeper, I've seen some light to it. Due to the property boom time in US, banks are lending out to people and many were not checked for their credibility. As the values of the properties go up, property started changing hands and loans keep getting bigger. When it comes to a point where the borrowers are unable to pay back the mortgage, the crisis starts.
What goes up must come down. The property value starts to drop and many people are unable to fork out the difference (amount borrowed and lower actual value of property). Defaults starts to come in, banks are unable to provide interest payment to lenders and thus investors and depositors are affected.
The financial industry works like this. There must be people to lend and to borrow. There are banks, investors, etc who have the money and will invest on such investment packages. Such packages derived from banks packaging a whole lot of mortgages into investment products for investors to put their money in. Just like the Lehman Notes that DBS issued. When defaults occur, the banks holding such products are unable to fulfill their obligations to investors and incur debts (either interest payment or principal payment). Thus investors are affected with all their investments wiped out.
Banks borrow from other banks to finance mortgage loans and thus this domino effect that banks start crumbling as defaults rack the high notes, banks can't pay other banks. Debts will incur and thus the situation is similar to investors. The investments were wiped out and banks start to crumble.
The root of the problem is actually the greed of man. Individuals want to earn the extras through buying and selling, in the process loans are obtained from banks. Banks seeing such huge interest will definitely ride on the bandwagon and accept loans as their target is to earn the interest that individuals promise to pay (i suppose irregardless of credibility). And thus everywhere people are jittery about the financial outlook.
The tainted milk is also another case of greed. Low costs, high output equals huge profit will have drive many unscrupulous merchants to mix melamine with milk to produce high protein milk powder and products to earn the profits. People use efficiency in the wrong way. For the same amount of milk can produce more milk powder with the combination of melamine. There is no ethics in these merchants.
The victims are actually the cow farmers and consumers. From here we can see that the rotting part is actually the "in-between" of this whole process. To earn the difference, such acts to improve protein count by adding melamine is being used. We can foresee other "creative ideas" coming up and causing further damage to mankind. Man is truly crazy.
Saturday, 4 October 2008
Wednesday, 1 October 2008
Financial Advisers!!!!
I guess I can't be soft on those financial advisers who always try to push their products to customers. Saying as we age the premium will be higher and try to advise me get the product before I turn 30 so that I do not need to pay a higher premium.
I had previously turned her down to purchase the policy as I'm cash strapped. Its really frustrating to hear her say the same thing again on the phone to ask to meet me up to explain the policy further. I was like if I agree, I'll have to waste another couple of hours and if I'm soft hearted, I'll have to squeeze from my savings to pay for the premium.
Other advisers are about the same. As I told them I had allocated all my income accordingly and I do not have extra cash to purchase the policies they recommend, they'll look at my allocation and advise me to cut this, cut that, take out my savings to purchase, recommend only products suitable for the individual needs, etc.... But I can only say I will look at the products when I've got extra cash but at the moment I'm cash strapped once again. Now I dread to see my financial advisers. As such a session can last at least 2hours. What a waste of time!!!
But I do learn something from this. Financial advisers are really a pain in my ass. Though some of my friends say that I realise it a little too late but for me is, it is better to learn it late than never learn at all.
I had previously turned her down to purchase the policy as I'm cash strapped. Its really frustrating to hear her say the same thing again on the phone to ask to meet me up to explain the policy further. I was like if I agree, I'll have to waste another couple of hours and if I'm soft hearted, I'll have to squeeze from my savings to pay for the premium.
Other advisers are about the same. As I told them I had allocated all my income accordingly and I do not have extra cash to purchase the policies they recommend, they'll look at my allocation and advise me to cut this, cut that, take out my savings to purchase, recommend only products suitable for the individual needs, etc.... But I can only say I will look at the products when I've got extra cash but at the moment I'm cash strapped once again. Now I dread to see my financial advisers. As such a session can last at least 2hours. What a waste of time!!!
But I do learn something from this. Financial advisers are really a pain in my ass. Though some of my friends say that I realise it a little too late but for me is, it is better to learn it late than never learn at all.
Happy Hari Raya Puasa and Children's Day
Children's Day
Children are you feeling short-changed. Haha... A combination of two holidays into one day. That sure dips a little mood here.
After enjoying so many children's day, I didn't feel the urge to find out why there's children's day. So today I decided to look up why there is a children's day. A search on wikipedia found that it is actually a day that was set by the UN General Assembly in 1954 that all nations to observe a Universal Children's Day as a day of worldwide fraternity and understanding between children and of activity promoting the welfare of the world's children. Each country is responsible for passing legislation providing a day and name appropriate for compliance with UN resolution and in Singapore it is on the 1st October.
Welfare of children is to provide a good environment for their normal development in aspects of health, education, emotional and social. It is easier to achieve the physical aspect such as health and education. But the spiritual aspect like emotional and social are much tougher to achieve. In Singapore, children are provided with good medical and education assistance. The development of spiritual falls on parents. But due to societal changes, it seems parents still need to work harder to achieve spiritual development of children.
Hari Raya Puasa
Happy Hari Raya Puasa to all Muslims. Since I'm searching on children's day, I might as well search on Hari Raya Puasa too. Haha.... its a good learning experience.
This festival is a day to rejoice. It is also known as Edil Fitri in Arabic. It is a celebratory occasion after a month of fasting (Ramadhan) and not as some mistook it for a new year of muslims. It is a religious period for Muslims. Before this day, Muslims read the Quran, fast, abstain from sensual and worldly pleasures. The purpose is for Muslims learn to appreciate the finer aspects of life and incline towards giving to the less fortunate.
Fasting is expected of all adults but flexibility is practiced where old people, the sick and pregnant women are not required to fast. Make up for lost days are allowed too where one is has fallen ill, required to do physical work all day, etc. The method of fasting follows how Prophet Mohammed broke fast. Young children are trained to fast at the age of 6 where they fast for half a day to prepare for full fasting when they are adults. Family members and friends are brought closer during this daily fasting as at break of fast tarawih prayers are conducted. Friends take turns to exchange invitations to break fast known as majlis berbuka puasa meaning "breaking of fast" as one big happy family. It is a time of forgiveness within the Muslim community and a time for strengthening of bonds amongst relatives and friends. New clothes, decorated houses and exchange of invitations between friends and relatives commemorate Hari Raya Puasa. Children salam (greet) their parents on the morning of Hari Raya Puasa and ask for forgiveness and blessings.
The first three days are the days of "open policy" where friends and relatives visit. (Oh no wonder, some mistook Hari Raya Puasa as a new year for Muslims. Its similar to chinese celebrating CNY). Muslims will visit the dead too. There's a ceremony called Malam Tujoh Kikur (all souls night), where 7 days before Puasa, a lamp is added each day and by the seventh day there are seven lamps lit in a complete row. These lamps are meant to welcome the souls of the departed who are supposed to be visiting their families in the night.
On Hari Raya Puasa, food is prepared and everyone had a heartly meal. There will be beef rendang, ketupat and lontong. There will also be desserts like cookies cakes and pineapple tarts.
This day is really very meaningful where Muslims go through the process of enduring, hardship, etc to remind themselves not to take things for granted. And with the celebration with family members, relatives and friends, no wonder Muslim society is still closely knitted.
Children are you feeling short-changed. Haha... A combination of two holidays into one day. That sure dips a little mood here.
After enjoying so many children's day, I didn't feel the urge to find out why there's children's day. So today I decided to look up why there is a children's day. A search on wikipedia found that it is actually a day that was set by the UN General Assembly in 1954 that all nations to observe a Universal Children's Day as a day of worldwide fraternity and understanding between children and of activity promoting the welfare of the world's children. Each country is responsible for passing legislation providing a day and name appropriate for compliance with UN resolution and in Singapore it is on the 1st October.
Welfare of children is to provide a good environment for their normal development in aspects of health, education, emotional and social. It is easier to achieve the physical aspect such as health and education. But the spiritual aspect like emotional and social are much tougher to achieve. In Singapore, children are provided with good medical and education assistance. The development of spiritual falls on parents. But due to societal changes, it seems parents still need to work harder to achieve spiritual development of children.
Hari Raya Puasa
Happy Hari Raya Puasa to all Muslims. Since I'm searching on children's day, I might as well search on Hari Raya Puasa too. Haha.... its a good learning experience.
This festival is a day to rejoice. It is also known as Edil Fitri in Arabic. It is a celebratory occasion after a month of fasting (Ramadhan) and not as some mistook it for a new year of muslims. It is a religious period for Muslims. Before this day, Muslims read the Quran, fast, abstain from sensual and worldly pleasures. The purpose is for Muslims learn to appreciate the finer aspects of life and incline towards giving to the less fortunate.
Fasting is expected of all adults but flexibility is practiced where old people, the sick and pregnant women are not required to fast. Make up for lost days are allowed too where one is has fallen ill, required to do physical work all day, etc. The method of fasting follows how Prophet Mohammed broke fast. Young children are trained to fast at the age of 6 where they fast for half a day to prepare for full fasting when they are adults. Family members and friends are brought closer during this daily fasting as at break of fast tarawih prayers are conducted. Friends take turns to exchange invitations to break fast known as majlis berbuka puasa meaning "breaking of fast" as one big happy family. It is a time of forgiveness within the Muslim community and a time for strengthening of bonds amongst relatives and friends. New clothes, decorated houses and exchange of invitations between friends and relatives commemorate Hari Raya Puasa. Children salam (greet) their parents on the morning of Hari Raya Puasa and ask for forgiveness and blessings.
The first three days are the days of "open policy" where friends and relatives visit. (Oh no wonder, some mistook Hari Raya Puasa as a new year for Muslims. Its similar to chinese celebrating CNY). Muslims will visit the dead too. There's a ceremony called Malam Tujoh Kikur (all souls night), where 7 days before Puasa, a lamp is added each day and by the seventh day there are seven lamps lit in a complete row. These lamps are meant to welcome the souls of the departed who are supposed to be visiting their families in the night.
On Hari Raya Puasa, food is prepared and everyone had a heartly meal. There will be beef rendang, ketupat and lontong. There will also be desserts like cookies cakes and pineapple tarts.
This day is really very meaningful where Muslims go through the process of enduring, hardship, etc to remind themselves not to take things for granted. And with the celebration with family members, relatives and friends, no wonder Muslim society is still closely knitted.
Sunday, 14 September 2008
Many Photos (Finally a new post)
Sweep!! Sweep!! This blog is covered with dust. Haha!!! Its been a month after my last post.
Here I present to everyone the photos taken during the fireworks 2008. This is the 1st time I attended a "Live" fireworks show. My house's near the stadium so I get to see "free" fireworks display in the comfort of home but this year I get to have a feel of the atmosphere of seeing it actual. The feeling is really different. Back home, the excitement is not there. At the actual ground, everyone's excited to see the display of fireworks. Adults and children are all awed to see the fireworks. Here's part of my photo collection. Too lazy to put up all lah...
Fireworks 2008
Too excited!! Can't hold camera still.
Balloon
Spectacular
Oh too much smoke make the later fireworks pale off among the cloud
Took it at the exact moment
My bro and I had a fun time. Besides the visual feast, we treated ourselves with a feast of food. Weather's cold so we had "ma la fishball" and other hot stuff (though we suffered some heatiness later). Well, its really a wonderful feeling to eat hot stuff in such cold weather.That day it was raining for quite a while. And luckily the rain stopped sometime before the show otherwise the display's not going to be nice. In actual fact, the display is not really that spectacular because the moist air has made the smoke linger longer than usual and causes the later fireworks to be covered in an air of cloud.
The whole display of fireworks lasted about half an hour. The display is segmented into various themes with different accompanying music. One of the music comes from the Korean drama serial "Da Chang Jin". Pardon my lack of knowledge. Erm... the rest of the songs, I don't know where's it from. The fireworks went on to the beat of the music. Instrumental music is a great match for such display.
Timing's just right on that day. Rain starts again after the display, everyone starts leaving.
Common Scene in Singapore
It is not only in developing and 3rd world countries do one see such scene but it is a common sight in prosperous Singapore too. I had my fair share of such scenes. Where I see it? HDB void decks and in construction sites are a common sight. There's no need to be alarmed about it.
But I heard from a conversation between 2 of my colleagues that they find such sight a cultural shock. One went to India on overseas business trip and saw people just lying on the ground to sleep. Is it really cultural shock or just that the person didn't get to experience such sights which is a common sight in Singapore? Singaporeans are well-educated and some are in a world of prosperity and comfort which explains why there's a cultural shock. People should come of this comfort world to look around and experience. I've seen a little but I must confess that I do need to have more of such experience too. This will broaden and make me realise a lot more things. It is a learning experience.
When one keeps an open mind and gain more exposure, it'll be more of a learning experience than a cultural shock.
Sunday, 17 August 2008
Different Emotions
Capturing this thought that suddenly came to my mind.
The same story but the medium of transmission is different. One's a book, the other's a TV program.
The emotions derived from watching the story unfold on TV is entirely different from reading the book. I remember that when I was reading this book, my thoughts were only on moving on to the next page as it was very exciting and addicting. But watching the TV program brings out an entirely different feeling. Its not only exciting but it gives me an undescrible feeling that the book could not give.
The book doesn't provide that much feeling and emotion as compared to the TV program. I guess I'm a more visual person. Or maybe the script writer added different dialogue that creates such emotions. No matter what, in my opinion, its really a nice program to watch.
The same story but the medium of transmission is different. One's a book, the other's a TV program.
The emotions derived from watching the story unfold on TV is entirely different from reading the book. I remember that when I was reading this book, my thoughts were only on moving on to the next page as it was very exciting and addicting. But watching the TV program brings out an entirely different feeling. Its not only exciting but it gives me an undescrible feeling that the book could not give.
The book doesn't provide that much feeling and emotion as compared to the TV program. I guess I'm a more visual person. Or maybe the script writer added different dialogue that creates such emotions. No matter what, in my opinion, its really a nice program to watch.
Wednesday, 13 August 2008
Two Families
I read an article in the morning about more cases of men leaving families here to set up another family overseas.
It seems there are more and more cases of men disappearing without any trace. Not that they are being kidnapped or anything but the report states that they are setting up another family overseas and thus abandoning the first family here. The men did a disappearing act by "poof" and they are no longer contactable and traceable. Wives have gone through the police, etc to search for their "missing husbands". But apparently to no avail and have taken the drastic action to hire private investigators to find their husbands.
This "disappearing act" has actually caused distraught to wives and children. I don't think I can comprehend the actions of these men. But it might not be difficult to comprehend why some wives have to resort to check on their husbands and requires counseling (an article in the evening chinese newspaper). This action of irresponsibility alone has lead to numerous problems. One of which is that the child is affected. It is really sad to read such an article. A couple of questions popped out. Is the word "responsibility" no longer in the dictionary? Why is there such a selfish act? Whose to blame for this?
But I think, everything boils down to a person's moral convictions. And such convictions seems eroding away. An analogy just came into my mind. Choosing a life partner is not like choosing a handphone. Every few years, there'll be new, more sophisticated, more slick, more beautiful and better handphone models entering the market and a decision to change a handphone can be at a flick of the fingers. There's a high turnover of handphones. It seems that there is a turnover too for partners. I should say the correct phrase should be "life partners". A decision to marry the other party to be wife or husband is actually a decision that is suppose to be made once in a lifetime. There shouldn't be any "turnover" at all.
The selection of life partner should be taken seriously and effort required to sustain the relationship.
It seems there are more and more cases of men disappearing without any trace. Not that they are being kidnapped or anything but the report states that they are setting up another family overseas and thus abandoning the first family here. The men did a disappearing act by "poof" and they are no longer contactable and traceable. Wives have gone through the police, etc to search for their "missing husbands". But apparently to no avail and have taken the drastic action to hire private investigators to find their husbands.
This "disappearing act" has actually caused distraught to wives and children. I don't think I can comprehend the actions of these men. But it might not be difficult to comprehend why some wives have to resort to check on their husbands and requires counseling (an article in the evening chinese newspaper). This action of irresponsibility alone has lead to numerous problems. One of which is that the child is affected. It is really sad to read such an article. A couple of questions popped out. Is the word "responsibility" no longer in the dictionary? Why is there such a selfish act? Whose to blame for this?
But I think, everything boils down to a person's moral convictions. And such convictions seems eroding away. An analogy just came into my mind. Choosing a life partner is not like choosing a handphone. Every few years, there'll be new, more sophisticated, more slick, more beautiful and better handphone models entering the market and a decision to change a handphone can be at a flick of the fingers. There's a high turnover of handphones. It seems that there is a turnover too for partners. I should say the correct phrase should be "life partners". A decision to marry the other party to be wife or husband is actually a decision that is suppose to be made once in a lifetime. There shouldn't be any "turnover" at all.
The selection of life partner should be taken seriously and effort required to sustain the relationship.
Tuesday, 5 August 2008
Role of Man and Woman in a Family
Read an interesting article today on Straits Times titled "Yes, honey it's your turn to look after the kids tonight". The results are really interesting. Taking a half full or half empty concept. It seems that only 1 in 4 working women requires the help of their husbands. That is to say, only 25% requires help, the other 75% can do without the help from their husbands.
Hey, guys, you've got 25% of chances you'll marry a lady who needs you to do housework. Haha... its really wonderful news for guys. Higher chances of pushing the housework to your partners and can have more time for a drink. Will it be better this way?
I'll think not. The society has changed. Looking back, ladies are the ones staying at home and depending on their husbands to bring back the money. They are required then to tend the kids and look after the family.
Moving forward, ladies now are earning their share and advocating "equality status". The society will be or is at this stage now. Looking at the form up of a family. There are two working adults and the standard of living is very high. To maintain a family, it requires the effort of the couple and not rely on one. Looking from another angle, doing housework can also be enjoyable. I believe it is right for husbands to have a fair share of the housework and tend to the children. Having a more or less balanced "work-housework" life will do good for the couple too. Besides doing housework together can help improve the relationship of the couple. It is also good to husbands to set an example for the children and cultivate their sense of responsibility. Being able to see the growth of children is actually a very wonderful process. Don't you think so?
In life, work is not the only thing that one live for. The other part to a person's life is his/her family. Career is only for a period of time but the family will be forever.
Hey, guys, you've got 25% of chances you'll marry a lady who needs you to do housework. Haha... its really wonderful news for guys. Higher chances of pushing the housework to your partners and can have more time for a drink. Will it be better this way?
I'll think not. The society has changed. Looking back, ladies are the ones staying at home and depending on their husbands to bring back the money. They are required then to tend the kids and look after the family.
Moving forward, ladies now are earning their share and advocating "equality status". The society will be or is at this stage now. Looking at the form up of a family. There are two working adults and the standard of living is very high. To maintain a family, it requires the effort of the couple and not rely on one. Looking from another angle, doing housework can also be enjoyable. I believe it is right for husbands to have a fair share of the housework and tend to the children. Having a more or less balanced "work-housework" life will do good for the couple too. Besides doing housework together can help improve the relationship of the couple. It is also good to husbands to set an example for the children and cultivate their sense of responsibility. Being able to see the growth of children is actually a very wonderful process. Don't you think so?
In life, work is not the only thing that one live for. The other part to a person's life is his/her family. Career is only for a period of time but the family will be forever.
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