I want to share a good article on the budget and state of the real economy. We thank a SHC member for reminding me.
"Stagflation Hits Singapore as Inequity Grows" Andy Mukherjee Feb. 18 (Bloomberg)
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZM2OxYMU7f8
"the perils of slowing growth and accelerating inflation"
GDP growth coming in at or less than 4% sees the economy braking. In addition, "..the bigger threat is clearly the 4.4 percent rate at which consumer prices rose from a year earlier in December, the quickest pace in a quarter century."
Translation : Money comes in a drying trickle and pours out in a torrent.
We will have a free time slot for an informal meeting for SHC Investment Club at Scorebot on Thursday 20 Feb 2008 at 7pm. Free. We will discuss
(a) The Budget
(b) CPF and implications
(c) How to compute your annuity payout and manage your CPF.
(d) Strategies to stay on top of the Real Economy
"However, the rich have fared much better. Starting in 2000, inequality has widened a little every year. Singapore’s Gini coefficient, a widely used measure of income concentration, overtook that of the U.S. in 2006 and rose further last year to 0.485, a very high level of disparity for a society with an educated workforce."
In other words, being smart is suppose be the universal economic leveller. But in Singapore, the rich is even smarter in staying ahead.
Personally, I think the overall statistics understimates the truth. The offical inflation rate has long become a joke. Do you know a single living Sporean who is facing less than double digit inflation of costs? Hint: Forget CPI. See what they do, not what they say. Annualised their pay rise over the years to arrive at a true inflation index. The day that they pay themselves less than inflation will be the day that furry animals fly.
I was at a house party last Sat in Tanjong Rhu. Someone said that every block in the area has enbloced except one. No wonder than there are so many parties there. So many relatively unassuming and unambitious people have become millionaires overnight doing nothing much except for holding on to their assets for long term until the right time. Smart investments can look very unfair to the guy who is asked to work to his grave. It takes only one good run and you are home on the beach.
Life is actually fair. Everyone has many chances in a lifetime. Few take them. Question is which side on the inequity line stands thee. If you are on the wrong side, do you know how to cross over?
We probably receive that article from the same person who wears skirts and I too thank her for sharing it – the article, not her skirts.
To my mind, Andy Mukherjee is stating the obvious, and an understatement of what the situation really is. It makes sense for a foreign journalist to take a prudent approach when broaching on local topics, steering clear of that dreaded path FEER & AWSJ took.
But we – born, bred & raised here – know better. We hv last year & the years before to compare. And we know that belt-tightening isnt enough : it has to be a rubber band cos only a rubber band continuously wrings & squeezes us.
However, I do agree with what MM has said : that we, as much as the larger part of Asia, are somewhat insulated, tho’ not isolated, from the effects of the US financial debacle & fallouts. Our economy will sail thru the storm in our own placid way even as inflation continues its scalding ravage.
So, in a nutshell, with the rich well anchored in business & professions, and riding and rising with each wave, they will continue to accumulate wealth.
The poor will find the sailing tough as they struggle to keep their noses above water. Many more in the middle class will join the poor involuntarily.
So?
Using the budget surplus to help the poor & under-privileged helps. But the plea that goes out is : could we now look at the reserves, which we have accumulated in hundreds of billions with billions lent out to make more billions, and spend some for struggling sporeans?
Dont just pay the manager who lent out our money. That wont & cant help the poor en masse unrelated to him and they’ll see another person getting rich lending out what, however remote he perceives it, is still his money….cpf. for e.g.
It’s nice to say that we need to preserve our reserves for rainy days but say it too often begs the belief. And we hv yet to hear how “rainy days” is defined.
Surely, those who has helped make the pile shd hv at least a finger swipe of the cake?
No, what is asked for isnt subsidies; subsidies which hv lost the sense of proportion & reality (like some neighbouring countries do for staple, petrol) is untenable and weakens the human resolve.
I only ask that the poor be helped with the money they hv paid in taxes, levies, fines etc.
If yr chat is on 20th March, it cant be a Thursday. Has the wild swings lately torpedoed the cool KT……………….?
Hi there:
20 Feb is today, Wednesday.
20 March is Thursday- 4weeks away.
We would have heard all kinds of comments from the public, Parliament/Cabinet for three weeks and more.
Today, today, today….
Chap Goh Mei (15th day of CNY) lah, friend.
It’s official.
That we’re all beholden to Terence has become official. That we’ee all now infected by his befuddled date mix-ups is officially accepted.
Hi there
So it’s 20th Feb or March? Pls clarify lah!
I’m sure these are very interesting topics and relevant to most of us.
(a) The Budget
(b) CPF and implications
(c) How to compute your annuity payout and manage your CPF.
(d) Strategies to stay on top of the Real Economy
So, please confirm the date and make it official lah!
I’m sure many of us are interested
How come nobody can read. Here’s the copy and paste. Where did any other dates than 20 Feb (today) ever come up on my posting?
We will have a free time slot for an informal meeting for SHC Investment Club at Scorebot on Thursday 20 Feb 2008 at 7pm. Free. We will discuss
(a) The Budget
(b) CPF and implications
(c) How to compute your annuity payout and manage your CPF.
(d) Strategies to stay on top of the Real Economy
Here’s the bonus today. You get to see what CPF themselves said about their calculations. It is better than the horror movie “Nightmare on Shenton Way.” Hee-hee
Don’t worry if you miss this. We will give an update every week on SHCIC meeting.
So Happy We will have a free time slot for an informal meeting for SHC Investment Club at Scorebot on Thursday 20 Feb 2008 at 7pm. Free. We will discuss
(a) The Budget
(b) CPF and implications
(c) How to compute your annuity payout and manage your CPF.
(d) Strategies to stay on top of the Real Economy
Don’t worry if you miss. We’ll try to have a SHC Investment Club update every week.
It is stressful if you try to have a headstart in everything. Even if the world doesn’t wait for you, let the train go. You can’t make all the money in the world. And money is not everything.
Happy Chap Goh Mei
Hi there
Please don’t get angry lah!
I guessed it could be due to the message was posted too late Wednesday, Feb 20th, 2008 at 4:53 pm. So most of us thought it would be on 20th March 2008.
Glad that to know you’ll try to have a SHC Investment Club update every week. Haahaa
Thanks
KT, you too skipped yr medication huh, keep repeating “Thursday 20 Feb 2008” ?
Want to bet, I say Thursday Feb 2008 is 21st………….$100 to win yr bow; opf chap goh mei kway chap, ai mai?
Whatever, I wd be there tonite, February 21, Thursday, the 15th day of the First Lunar month 2008….if nothing else, just to patronise scorebot with a beer purchase.
KT
Para 3 in your forward & #7: Thurs-20 Feb
Today, Thursday is 21 Feb 2008.
Never mind the initial mixed-up.
Tim – you won the bet … let KT decides the reward with Ah Meng/Ming/Kong.
Hee hee.
Don’t trade overnite. You loose track of time and place. US is still Wed.
I am so inspired by the new CPF rules. There is a time limit that you have to do something before the doors close and you are in the next chapter. It looks like a sad ending so don’t leave it to the end of the book.
Meeting’s today which is according to the calender 21 Feb 08 Thu.
The dateline is 1 April 2008. I rush this out so that you have enough time to grab your valuables to rush out of the door.
Don’t say that I didn’t say. At least I told you the date. The rest is for tonite.
Andrew, Tim and Ah Meng are correct about the time. I stand corrected. In between packing my valuables and dashing to the door.
You guys didn’t know?! You don’t have friends in low places.
Neither did Pompei before they were buried in volcanic ash. Nor everyone in the Titanic ballroom.
Be Zen about it. Perphaps they were happier not knowing anyway.
So AndrewK, you stanb with me, you use the same calendar and when KT buys me the chap goh mey kway chap, you get to drink the soup so come lor if you can………btw, I’ll be late………..toto closes at 9 pm 2nite……………
We all hv friends in low places, trodden and bullied, that’s why we hv to stand up for them, with them without being militant or confrontational.
Running to do my bit of charity with spore pools liao………………………
Good to be Pao Cheng Tien and others yet remain…fearless, strong and courageous in justice,truth,spirit,righteousness and within Heaven’s will.
You will be rewarded, protected and blessed.
Hi KT: what were the five key statements you can deliver for all in Singapore to hear?
Andrew @ # 14
Spoken wise words wisely from a man of infantomable wisdom. And some near death experience too no doubt.
Do they banish one to Washington. McCain needs a new lobbyist, preferably one that doesn’t wear skirts. Obama needs a Chinese running mate to balance his ticket. (White squaw is heading back to become teppeewife in white reservation.)
Is being blessed in a premature obituary and free real estate in Changi protected by a 24 hours security detail the only benefit? Do we have more choice than we have in CPF. Does political asylum reward comes with a one-way SIA first class ticket and annuity for life?
What five statements? We follow our role models. The immediate five important things in life that comes to mind are
“Money, Money, Money, Money and Money.”
Hee-hee.
BMW – best fruit of the spirit, money and wisdom. These are most important with good/excellent health(s): mind, body and soul with lots of true, lively and genuine friends.
Be strong, diligent and courageous: do not turn to your left or right, remain truthful, wise and faithful. Have clear and clean conscience.
Make your calling and election sure and steadfast: in all, have love, passions, faith,peace, joy, knowledge, understanding, wisdom and keep within the narrow path. Let no distractions and noise bother – let them pass on their own, stay focus.
Make peace and stay useful and helpful with all including foes/aliens ; stay clear of snares and back-biting. Shall and will be guided, protected, blessed and rewarded from Most High.
AndrewK, at our age, if you still believe in Pao Cheng Tien, I’ll definitely (ta) pao cheng tng for you to drink on 1 Mar 2008.
I will take issue with you on 2 things you wrote:
1. “do not turn to your left or right”.
I wd love watching where you move yr car when you come to a T-junction, such as exiting from a highway. Whatever, i shall hv no worry, you hail from the Red X.
2. “Make peace and stay useful and helpful with all including ….aliens”
When they re-run the Independence Day movie, call me, it’s my treat to make change yr mind. Pepsi & pop-corns included.
KT, “wise words wisely from a man of infantomable wisdom”. Heee, i like that cos it brings out yr unfathomable cheekiness.
“Infantile wisdom” is certainly unwise to have and “infantomable” wisdom must be wisdom acquired close to the tombs of some infants………..
Hi Tim
Did you receive Dr Phil Test circulated amongst some 20 plus SHCians the last three days?
If you done already, share your score please.
I gave that pregnancy test kit away……..you mean you used it !!
Dont worry, yr test result has to be negative unless like Terence, you too let a cockerel make chickens in yr stomach……………
That is a psychometric test.
If you are keen, will email you that.
Heeee, 2 very kind & kindly ladies both sent me that test kit again, and no kidding, this time I opened it and what disappointment. only 46……..so far from a perfect score………..
There is no perfect score, no right or wrong answer.
Too high and too low are obnoxious/queer behaviours.
The test shows behaviours / characteristics of a person.
Ha ha, enjoy !
Don’t take yourselves too seriously.
Scientists have found the secret of true happiness. G marks the spot.
http://www.telegraph.co.uk/earth/main.jhtml?xml=/earth/2008/02/20/scigspot120.xml
Drop the act. No need anymore to behave like a superstud in everything. No need to prove yourself. 70 % of the time its not there. You have been living a lie all this while.
Hee-hee
To err is human, to forgive is divine.
I looked thru the analysis and then decided what my score shd be……………it can also be used successfully on yr next bf or gf, to impress and that’ll surely make Dr Phil feel useful……….
Ha ha – that is not ought to be!
Honesty is the best policy, even to self, in this psychometric test. heh hor!
No wonder Suzanne is singing with eagerness in the “Perish in the name of (true)love” – if you doubt me(her), don’t…..
How valid and true: purity begets beauty, goodness with goodwill, light with good fruits; courage and strength produce blessings.
I was so busy that I forgot about you guys. Thanks to Andrew that I remembered. Don’t miss this.
This is free and I will talk about what we can find there about the event. See you guys there.
Attend this
The Asia Trader & Investor Convention (ATIC) is an exciting platform for Asia’s local investors and traders to gather in different cities to learn and be educated about the latest products and services offered by local and international Exchanges, Brokerage firms, Banks, Asset management firms, Information service vendors and other financial service providers.
http://www.theatic.net/2008/index.php?city=sg
The 2 days seminar/exhibition is the year’s biggest event in techhnical analysis , trading and investment. Try to attend at least for one day. If you are totally lost here is a foggie roadmap. “How to get the most out of ATIC for Dummies”
– Do a general sweep of the exhibition to pick up all the freebies. Start early or it’ll be all gone.
– Vendors have free games with attractive prizes. Go early to avoid queues. They are trying to check whether you are of sane mind before trying to sign you up. You should win something unless you are already one over cuckoo land.
– They have a breakfast/tea. If you are challenged behave like a pathetic old foggy who has trouble remebering your own name.
– Go around ask for annuity plans and how to maximise and leverage your CPF. This is the serious part. Don’t miss this as if your lifestyle depends on it. It does.
– Check for free opening accounts and talks/seminars. Try them and check out the possibilities and options in front of you.
– If they ask you what you trade and you don’t know what to say. Say “Everything, here and there. I am picky. Right now I am hot on writing Apple puts.” They will roll the red carpet and celebrate your visit. Just make sure you don’t get wet when they salivate over you. You have instantly been profiled a savvy investor with bucks to bust.
– Check for any algo trading platform that can deliver today. Learn how they can help you to an effortless retirement. Stop working and enjoy life now.
After The Asia Trader & Investor Convention. Now this weekend we have ” SMART Investment & International Property Expo” at SUNTEC 29/30 March08. Any one interst to go together. email me.
DennisH
.. interested to go.. aait_dennis@yahoo.com
DennisH