Thursday, October 01, 2009

It rained

After about 2 weeks of terrible skin, the eczema is finally clearing up. Throughout this period, I slept without the blanket, intially for fear of staining the blanket and thereafter to avoid dirtying the blanket with skin flakes. This is a major milestone for me, who MUST sleep with at least the blanket covering my feet.

Just last night I was thinking to myself, that I am thankful that the weather has been hot, so there has been no need for the blanket. (The Lord's work?) The moment my eczema clears up, my recuperation period will be up and there will be rain, followed by chilly weather.

And last night, it rained. And I made sure I was snugly covered under my blanket.



Post Date: 2 Oct 09

Saturday, September 26, 2009

Yikes!

The achilles tendon did get better, but not only did the rashes not heal, they developed into quite jialat eczema. Reddish skin with blisters and patches all over the place!

Had to go to the GP again last night. The bill was $92! But it was quite funny seeing the doctor fumbling with the syringe, trying to extract the serum from the biggest blister : ) Thankfully the anti-itch pills worked.

Wifey seems to enjoy pricking the blisters ...



Post Date: 2 Oct 09

Wednesday, September 16, 2009

Damn pain!

*Update 17 Sep 09*

Now that the foot is feeling better, guess what's next? Numbness in my left hand. Internet says it might have to do with nerves around the neck. Memory pillow, where are you??

~~~~~~~~~~~~~~~~~~~~~~





It started on Saturday, feeling a bit strained. Got worse on Sunday and Sunday night really did it for me. Hobbled around the house, not to mention the occasional dull pull of the pain. Sleeping was a problem.

Went to the doctor on Monday to get a 2-day MC, and then it was straight off to the sinseh. One big black piece of koyok, and overly-tight bandage and skin rashes later, it is much better now, but still a little bit sore. Hope it recovers in a few days.



Image credit here.

Post Date: 17 Sep 09

Friday, September 11, 2009

命中注定我愛你



你不是陈欣怡的妈妈, 陈林西施女士儿吗?

HAHAHAHAHA! Damn funny!



Image credit here.

Post Date: 17 Sep

Wednesday, September 09, 2009

"Feeling better yet?"

Yes, immensely!

Thank you Lord, for making me feel useful, needed and having some self worth by packing my day with decisions that I have to make and people that know what I want and know what I'm talking about. Also thank you for putting people whom I can click with around me.

Most importantly, thank you Lord for bestowing upon me the wisdom and the clarity of thought with which I tap upon to solve these problems.

Amitabha.



Post Date: 9 Sep 09

Tuesday, September 08, 2009

How is it done?



Mahatma Gandhi once said:

“There is nothing that wastes the body like worry, and one who has any faith in God should be ashamed to worry about anything whatsoever”

Dear Gandhiji, I understand the immense wisdom of your words, but I fail miserably in its execution ...



Image credit here.

Post Date: 8 Sep 09

Monday, September 07, 2009

Ideal jobs

Seems like jobs suited to my 八字 need to be in 金 and 水, for eg.

- finance
- automotive
- 五金
- mining / exploration
- seafreight
- shipping
- something to do with ice/coldroom



Post Date: 8 Sep 09

Wednesday, September 02, 2009

Dear Lord, are you trying to tell me something?



Dear Lord, for the 2nd day in a row, You have put me in contact with like-minded people. Both told me personal stories, that, when put into perspective, demonstrated Your infinite wisdom and the karmic effects of life.

But dear Lord, are You trying to tell me more? Does this have to do with my current predicament? My ignorance is preventing me from seeing the linkage. Or is this the start of a fellowship of dharma brothers and sisters?

I know I have an issue with self-worth, and have always wondered what my mission in this life is. Are You helping me on these fronts? Is this my calling?

Urrrgggh, my ignorance ...!



Image credit here.

Post Date: 2 Sep 09

Tuesday, September 01, 2009

Aiyoh

This morning I was happily munching on my soot-laden , badly-burnt-on-the-bottom bread when I remembered what the auntie said when I bought the bread from her:

这个不健康,吃多了对身体不好.

And then a thought entered my mind:

Cause of death: Cancer
Age at death: 76

Aiyoh, so morbid! But already better than my expected age of 72!



Post Date: 2 Sep 09

Monday, August 31, 2009

Rich son, poor son

Very, very meaningful.

Dear Lord, thanks again for the reminder : )





Post Date: 31 Aug 09

Thursday, August 27, 2009

Philly and Fishie

More than 20 years ago, a dorky, awkward teenager met a sweet-looking girl at his orientation. She had her long, bouncy hair tied into a ponytail. Her tan complexion was due to the love of outdoor sports, especially swimming. She smiled a lot, and her laughter was especially contagious.

Their OG was an active one, meeting up regularly for lunches and outings. They both enjoyed the company, and nothing happened at first. But as the group then settled into their regular routine, he realised that he has taken a fancy to her. "She is wife material," he sniggered to himself. Phone conversations became more frequent, and he had a hard time trying to coincidentally bump into her along the corridors.

Over one of those long conversations, he asked to be her boyfriend. She was somewhat cornered, and rather hesitantly, said yes. It was August then. He was overjoyed! Over the moon! You see, unbeknownst to her then, he had 2 things on his mind. Using a sports analogy,

1. He needed to move up to midfield to attack
2. But before he can do that, he needed a solid defence

He had already identified that she will be the proverbial woman behind the proverbial successful man. With her support on the home front, he'll then be able to focus on taking on this world. Something like 男主外女主内.

They enjoyed their "paktor-hood" thoroughly, strolling in parks, going to movies, taking photos, etc. They had their 小情侣 squabbles, of course, but there was never shouting or fighting. Never. They were mostly disagreements, thrashed out civilly. They also learnt to manage each other's expectations. In all, they disagreed for less than 5 times. But he also learnt his lesson. Everytime she cried, it pierced his heart. He vowed never to make her angry, and will love and protect her.

Knowing that he found himself a good catch, dorky teen got worried when NS time came. She was too important to him and cannot afford to lose her. But what if...? She had a hard time reassuring him, but did so ever so patiently. She meant what she said, when twice she waited for him outside his camp. Imagine, a teenage girl outside an army camp! That's simply asking for trouble (meaning, cat calls, whistles, stares)! But she did it. When dorky nerd saw her standing there, he couldn't believe his eyes! He so badly wanted to hug her there and then, but had to restrain himself. He was so, so touched, and loved her even more.

Their love story continued much along the same lines, of surprise gifts, silly jokes, lots of love but even more respect.

Today, they have been together for 20 years, and married for 10. Come next year, there will be a new addition to the small family, one that they have been praying for.

So Happy 20th Anniversary my Princess, for comforting me when I'm sad, for encouraging me when I'm down, for bearing with me when I'm incoherent, for supporting me when I feel weak... most importanly, for being there for me. Of all the wrong things I've done, I am so proud I did one thing right: asking to be your boyfriend 20 years ago.

I love you, dear. May we have many, many more 20-year anniversaries to come. And I want to dedicate this song to you, the song that we liked so much and has grown to represent our relationship.





Image credit here.

Post Date: 31 Aug 09

Wednesday, August 26, 2009

Blind ruminant left to die

*Update* 5pm

Very disturbed, so went to seek divine assistance. The lot said:

"To act is to court disaster"

Yikes! So now better 按兵不动.

*****************************

It's been 3 days, and I still can't figure out my next course of action.

It's tough working against the unknown of unknowns, especially the timeframe. I need to quickly sort out my thoughts and put in an action plan, but ...

STILL NO BLOODY IDEA!



Image credit here.

Post Date: 26 Aug 09

Tuesday, August 25, 2009

Better cashflow tracking

Want to try something to improve the cashflow and cash-at-hand picture. From next month onwards, every time a credit card transaction is incurred, I'll pay the amount into the credit card account. Will do this on a weekly basis, and monitor this trial over 3 months. Also right that items are expensed in the month of incurrence.



Post Date: 26 Aug 09

Sunday, August 23, 2009

青春年华

This song popped into my head today. Thought all along it was a 刘文正 song. But it could have been a 高凌风 song.



Brings back many happy childhood memories.



Post Date: 23 Aug 09

How apt

Today's horoscope in the Sunday Times says:

Spend time alone with your thoughts today and you will be in a better frame of mind. You need some distance from the flurry of activity in the workplace so that you gain a better perspective on recent events.

How did they know?



Post Date: 23 Aug 09

Saturday, August 22, 2009

"It's a bad time to look for jobs"



So today is the office's 7th month prayers. Big Boss came. Talked to him about the sale of the business.

As usual, he was non-committal. I told him if it were to materialise, then we need to re-deploy of existing staff. He acknowledged that and hinted that it shouldn't be a problem.

"Then I'll need to talk to you about me," I continued.

"Yah, still got you ..." he let his sentence trail off.

A lot of things flashed before my eyes at that moment - money issues, job ads, standard of living ... and the new addition to the family. I knew instantly I had to plan for my exit. If your employees are just automatons that you either add or remove according to your needs, then it's time they start to think (and fend) for themselves.

That look on his face tells me he doesn't know what to do with me. I don't have the luxury of that same ignorance.

I ended my conversation with him by saying "It's a bad time to be looking for jobs". And I said it twice.



Image credit here.

Post Date: 24 Aug 09

Friday, August 21, 2009

Bitter. Sweet.



So today marked the end of another in-camp training. While the maps, overlay, enemy actions and the department head's requirements still daunt me, I must say I survived better this time. I seemed to know what was going on. Yet again, this exercise was definitely less intense than the previous one.

The going was tough - early mornings, late nights, endless injects and countless presentations. While going through it, I couldn't wait for it to finish.

But now that it's over, I kind of ... miss it. Not so much the training, but the teamwork, the bind of the common destiny, and the talking cock. I did much, much better on the communication with the team.

This in-camp is the last one for some of the guys. I'll miss them, just like how I miss those who had already MR-ed at the last in-camp.

In other news, I ALMOST became the first NS men of the entire division to out-pro : )



Image credit here.

Post Date: 23 Aug 09

Thursday, August 13, 2009

"Your time will come"

While driving home this evening, I started thinking about the thousands of people who have bought private property, and wondered how they did it.

And then this thought entered my head: don't rush into things. Your turn will come.

Well, they did say patience is a virtue ...



Post Date: 13 Aug 09

Monday, August 10, 2009

Time to go green

Reservist training (AGAIN! ARRRGHH!) starting from tomorrow.

I had so much trouble assimilating.
I had so much trouble understanding what was needed of me.
I had so much trouble understanding the doctrines.
I felt that I couldn't contribute.
I didn't like the long hours away from home.

And they are all coming back.



Post Date: 13 Aug 09

Sunday, August 09, 2009

The End. The Beginning

Strictly speaking, it is session #7, and it's the last. We have accomplished our mission.

All the time I was running through the logistics in my head, we executed them today: the sorting, folding, opening, transferring and the eventual trip to the site.

The site had many visitors. These unwelcome buggers made me really uneasy. What's there to watch? Just go away! And thankfully they did.

I had imagined the final scene in my head many times, and it panned out almost accordingly. I didn't realise how much we did until we laid them all out. It was quite a sight to behold - almost knee height. On our way back, I was told that everything went well. Relieved.

This marked the end of the sessions, but the beginning of a new journey. I CAN'T WAIT!



Post Date: 13 Aug 09

Monday, August 03, 2009

SJS

Saw a car with license plate SJS XXXX on the road this morning.

Hmmm ... SJS.

Brings back memories of a particular primary school in the early 80s, where a boy felt left out when 3 of his classmates formed a 'Secret Js' club, a la Secret Seven and Hardy Boys. At that moment, he wondered why his name didn't have a 'J', the pre-requisite to qualify for the club.

But he got over it pretty quickly. His innocent mind told him: Got so many thefts or even deaths in school to investigate, meh?

It's strange how some memories of more than 30 years can remain stuck.



Post Date: 3 Aug 09

Thursday, July 30, 2009

Temasek mulls joint investments with public

http://www.businesstimes.com.sg/sub/news/story/0,4574,343869,00.html?

"... Asked about the shock departure last week of her would-be successor Charles 'Chip' Goodyear, Ms Ho said: 'I want to reaffirm that the decision was both mutual and amicable. We continue to hold Chip in very high regard for his professionalism and his integrity, so all those funny rumours you hear about his management style and all that, you can disregard..."

High regard for his integrity? Hmmmm...



Post Date: 30 Jul 09

Wednesday, July 29, 2009

Wonder Girls - Nobody

Very catchy ...





Post Date: 30 Jul 09

Sunday, July 26, 2009

I think we hit jackpot!



Wifey tested again today.

It showed positive.

Ermm, I think we are going to be parents soon.

YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES!



Image credit here.

Post Date: 30 Jul 09

Thursday, July 23, 2009

I think we may be on to something



I think we may be on to something.
I think we may be on to something.
I THINK WE MAY BE ON TO SOMETHING - YIPPEEEEE!



Image credit here.

Post Date: 24 Jul 09

Wednesday, July 22, 2009

Longest solar eclipse of the 21st century

http://travel.asiaone.com/Travel/News/Story/A1Story20090722-156327.html

VARANASI - The longest solar eclipse of the 21st century cast a shadow over much of Asia on Wednesday, plunging hundreds of millions into darkness across the giant land masses of India and China.

Ancient superstition and modern commerce came together in a once-in-a-lifetime opportunity likely to end up being the most watched eclipse in history, due to its path over Earth's most densely inhabited areas.

While bad weather confounded some eclipse watchers, tens of thousands of people gathered at dawn on the banks of the Ganges river in Varanasi where a largely cloudless morning offered a stunning view.

With Hindu priests conducting special prayers, the crowds cheered and then raised their arms in salutation as the sun re-emerged from behind the moon, before they took a spiritually purifying dip in the river's holy waters.

A total solar eclipse usually occurs every 18 months or so, but Wednesday's spectacle was special for its maximum period of "totality" - when the sun is wholly covered by the moon - of six minutes and 39 seconds.

Such a lengthy duration will not be matched until the year 2132.

State-run China Central Television provided minute-by-minute coverage of what it dubbed "The Great Yangtze River Solar Eclipse" as the phenomenon cut a path along the river's drainage basin.

Millions of people in areas of southwestern China enjoyed a clear line of sight, according to images broadcast on CCTV, but the view was obstructed along much of its path by cloudy weather.

Shanghai viewers braved rain and overcast skies to witness the spectacle as darkness shrouded China's commercial hub at 9:36 am (0136 GMT).

"It is working hours now, but with such a spectacle going on, you don't want to miss it. The experience is truly thrilling," said Allen Chen, a Shanghai office worker, who stepped out into the street to witness the event.

And despite the weather, hotels along Shanghai's famed waterfront Bund packed in the customers with eclipse breakfast specials.

Those who could afford it grabbed expensive seats on planes chartered by specialist travel agencies that promised extended views of the eclipse as they chased the shadow eastwards.

The cone-shaped shadow, or umbra, created by the total eclipse first made landfall on the western Indian state of Gujarat shortly before 6:30 am (0100 GMT).

It then raced across India and squeezed between Bangladesh and Nepal before engulfing most of Bhutan, traversing the Chinese mainland and slipping back out to sea off Shanghai.

From there it moved across the islands of southern Japan and veered into the western Pacific.

In Mumbai, hundreds of people who trekked up to the Nehru planetarium clutching eclipse sunglasses found themselves reaching for umbrellas and rain jackets instead as heavy overnight rain turned torrential.

"We didn't want to watch it on television and we thought this would be the best place," said 19-year-old student Dwayne Fernandes. "We could've stayed in bed."

Others opted to stay home and shuttered their windows, fearful of the effects of the lunar shadow which some believe can lead to birth defects in pregnant women.

Superstition has always haunted the moment when Earth, moon and sun are perfectly aligned. The daytime extinction of the sun, the source of all life, is associated with war, famine, flood and the death or birth of rulers.

The ancient Chinese blamed a sun-eating dragon. In Hindu mythology, the two demons Rahu and Ketu are said to "swallow" the sun during eclipses, snuffing out its light and causing food to become inedible and water undrinkable.

Some Indian astrologers had issued predictions laden with gloom and foreboding, and a gynaecologist at a Delhi hospital said many expectant mothers scheduled for July 22 caesarian deliveries insisted on changing the date.

The last total solar eclipse was on August 1 last year and also crossed China.

The next will be on July 11, 2010, but will occur almost entirely over the South Pacific, where Easter Island - home of the legendary moai giant statues - will be one of the few landfalls. -AFP




Image credit here.

Post Date: 24 Jul 09

Tuesday, July 21, 2009

The Eagle Has Landed

Today marks the 40th anniversary of Apollo 11's landing on the moon.

That triumph over the (then thought) impossibility so intrigued a particular Singapore boy that he became interested in the moon, and astronomy in general, and he constantly pestered his parents to allow him to buy space books. His first astronomy book was a thin hard-cover book bought from Emporium. He still remembers its yellow-coloured price tag and that it has, on its cover, sun rise over Earth, seen from space.

Secretly he wanted to be an astronaut. Neil Armstrong was his hero. He wanted to get the best seats in the house when it came to space exploration. In his kiddy mind, the excitement far outweighed the fear of not coming back. However, when confronted with the school composition topic of "What I want to be when I grow up", he didn't write about being an astronaut. Apart from the lack of a space programme in Asia (then), he was also afraid of being laughed at. (This inferior complex will continue to haunt him into his adulthood, with no remedy in sight).

He read that the astronauts were mostly engineering graduates and fighter pilots. Alas, our dear boy didn't make the cut. Not only did he suck big time in science (C5 for 'O' level Chemistry and C6 for Physics), his stubby existence (pun intended) meant that he'll never fit into the fighter cockpit. That one briefing at the RSAF is at the far end of his failing memory.

Despite the setback, he continued his dalliances with astronomy, buying the occasional book and DVD boxsets. He considers the purchase of the DVD set of the TV series From the Earth to the Moon a coup, considering that he searched for it for years.

To date, he has yet to haul his big, fat ass to the shelf to retrieve the box, remove the shrink wrap and pop the DVDs into the player.







Image credit here.

Post Date: 20 Jul 09

Monday, July 20, 2009

Chinatown

Wifey and I were in Chinatown over the weekend. We came across a flea market stall holder peddling CDs of yesteryear superstars. I started humming and Wifey exclaimed I was such an ah pek.

For the longest time, I wondered why I like to hang around here, but now I think I have some possible explanations:

- it offers a glimpse into how Singapore was, a hark back to our past
- the place is laid back, old school, away from the hustle and bustle of city life
- the relentless modernisation has not affected it in a big way. Yet.
- it is associated with happy thoughts, since I come here to change money for holidays
- it is real, not pretentious, no facade
- they play great (read: old) music!






Post Date: 20 Jul 09

Sunday, July 19, 2009

5 down, 5 more to go

Wow, already halfway there.

Sore fingers and shoulders aside, we did well, exceptionally well - 101%. This brought cheer to the team and at least they could see their hard work paying off.

We ended around 4.30am, after which Wifey and I went for a well-deserved, calories-laden snack at Jalan Kayu.

The news is that from next week, we will take a break and go back to the less intensive format. Hopefully we can end earlier. Also hoping that the team is not needed, so that they can finally catch their breaths.

Menu: Bengawan Solo cake and kuehs with boiled chrysanthemum tea



Post Date: 20 Jul 09

Thursday, July 16, 2009

Romance of the Three Kingdoms XI



19 years, 16 years, 10 years.

After 3 campaigns, many hours and dreams later, it's time to say bye bye to the game.

I've uninstalled it. I need my time, sleep and brain cells back.



Image credit here.

Post Date: 16 Jul 09

Wednesday, July 15, 2009

Visions @ 0700 (15.07.09)

Strange, short dream this morning.

Can't remember how it started, but the part I recall starts with me walking into the old house at 坡底. On the bench in the outer hall sat 外婆, with her glasses and baby blue top. But upon closer look, it seems like its grandma, not 外婆.

In the inner hall on the left sat 2 ladies. 二姨 was facing the entrance while I had to walk nearer before recognising 四姨.

In the dream, it felt like one of those visits to the old house, with people sitting around chit-chatting away happily. I'm surprised my subconscious mind can still remember the layout so vividly.

But 2 of the 4 persons in the room have already passed on. A sign? A message? Somehow after the dream, I just couldn't get back to sleep, no matter how hard I tried.



Post Date: 15 Jul 09

Sunday, July 12, 2009

4 down, 6 to go

Full attendance today.

Think we have settled into a routine, in that the tests are roughly the same as the previously weeks. However, we have been warned that from next week, it will be DIFFERENT.

We ended before 5.30am, and clocked the highest score to date: 100%. I don't know how we did it, but we did it.

Went to bed around 7.40am. After barely 3 hours, I was struggling to fall asleep. What the hell??!! Is someone or SOMETHING trying to prevent me from sleeping? At 12.30pm, after around 5 hours of sleep (only 5 freaking hours!), I woke up. Can't sleep no more. And what did I do when I woke up? Watch TV? Read newspaper? Play games? Hell no!

I did housework! Mum will be so proud!

Anyhow, later in the afternoon, we went to the temple to 拜拜. The volunteer there saw us and starting asking if we were ok. So long never see us already, she said. The others are also asking. Told her we have been busy and will still be busy for the next 1.5 months (fingers crossed), and that we can't wait to resume our Sunday morning prayers routine.

She exclaimed that we lost weight. How not to??!!

The damage after 1 month: $800

Menu: boiled chrysanthemum tea with DIY hot dogs



Post Date: 15 Jul 09

Wednesday, July 08, 2009

MAS bans 10 FIs from selling structured notes

http://www.businesstimes.com.sg/sub/news/story/0,4574,340842,00.html?

COMMENTARY

The cane whistles, but does it really hurt?
MAS bans won't affect FIs much and it shouldn't gloss over deeper issues

By WONG WEI KONG

IT is a pity that what seems so tough is really just a slap on the wrist.

So the Monetary Authority of Singapore (MAS) has banned 10 financial institutions (FIs) from selling structured notes for periods ranging between six months and two years for mis-selling products linked to collapsed US bank Lehman Brothers.

The offending banks on the list are all established names: ABN-Amro, DBS Bank, Maybank, DMG and Partners Securities, UOB Kay Hian, CIMB, Kim Eng Securities, OCBC Securities, Phillip Securities as well as Hong Leong Finance. These were names that many investors instinctively trusted - but, as the MAS findings show, it was a trust that was grossly misplaced.

On the surface, the MAS ban, following approximately seven months of investigations, appears to be appropriate punishment. But it really rings hollow, because it isn't going to hurt the FIs very much. The fact is that the whole structured products market has vanished - the financial crisis and the structured notes fiasco have seen to that. Even without the ban, these FIs weren't selling any structured notes.

This will be cold comfort to the 10,000 or so investors who suffered from the mis-selling, some of whom will never fully recover from the blow. And it isn't satisfactory, given the serious lapses at the FIs. The list of shortcomings makes for shocking reading: risk profile questionnaires that were wrongly scored; risk profile scoring systems that did not allocate numerical scores; wrong classifications of products, and relationship managers (RMs) and representatives who refused to attend the pre-requisite training. And all the FIs get, so far at least, is a ban on doing a business that doesn't exist anymore.

If a ban really means nothing, the MAS should have imposed fines, big fines, that will hurt the FIs. If it does not want to collect fines, it should have considered pushing the FIs to compensate, more than what they have done, the investors who are seeking redress. Of course, the FIs will say they're suffering reputational damage, but that's already a fact, and that is well deserved.

Oversight and processes

There's another point worth making. Apart from investigations into FI-wide issues, the MAS is concurrently looking into specific cases 'where individuals involved in the sale and marketing of the notes may have departed from the relevant regulatory standards'. Inquiries are ongoing and any regulatory action taken against individuals will be published in due course, the central bank said.

While it remains to be seen what the MAS will do in this respect, it will be a pity if any subsequent action taken is only against the RMs and representatives actually selling the products on the ground. The nature of the lapses identified by the MAS suggests a failure in oversight and processes, which really points the finger at senior executives, and they shouldn't escape responsibility.

And what about the MAS' own role? Dare we suggest that if the sub-prime fiasco hadn't happened and Lehman hadn't collapsed, the mis-selling would have continued merrily and no one would be the wiser? How closely did the central bank supervise the banks when it came to the sale of structured products before the crisis? Liberalising the market is good, but if not implemented properly, the costs, as proven now, are enormous. The MAS itself should be deriving lessons from the whole affair.

Time to win back trust

The industry will respond to this as it usually does. Indeed, the Association of Banks in Singapore (ABS) immediately announced that its member banks are putting in place a series of measures to further protect the interests of consumers who buy investment products, with the measures covering a range of governance and assurance processes, training and compensation of sales personnel, consumer education and enhancements to the sales process. Investors will take all this with a pinch of salt. Weren't there such protestations before?

Forget expansion - winning back trust should be the biggest priority for banks and financial institutions.




Post Date: 24 Jul 09

Sunday, July 05, 2009

3 down, 7 to go

Wife was down with gastric flu, so we had a modified format.

We broke new grounds in that we:

- clocked the most no. of hours so far, 10.30pm to 6.30am = 8 hours
- got the highest score so far, at 95%

Managed to go to bed only around 7.50am, after tidying up. The still morning air made everything so ... serene, and I was at peace with the world.

Menu: boiled barley drink with steam buns



Post Date: 6 Jul 09

Saturday, July 04, 2009

Infahini

The one bright spark from the recent Influenza A (H1N1) outbreak was this gem I heard last night:

"My parents just came back from Malaysia, my brother from Indonesia, my sister works in RP, my best friend is a student of RP, and her mother just came back from China. So do you think I should impose self quarantine?"



Image credit here.

Post Date: 6 Jul 09

Wednesday, July 01, 2009

Life, in one day



Today is a special day. In one day, I witnessed the 酸甜苦辣, the ups and downs and the trials and tribulations of life.

- At lunch, a friend that has just joined a new company was trying to get us interested in their services. No basic pay, all comm

- At same lunch, another friend informed that he'll be a father a second time at the end of this month

- Someone just bought a new car which will be delivered by the end of next week

- Met up with a close friend who recently lost his job, and is going through a property agent course to bring the bacon home

- Got a call from a keen property-investor to co-visit some new and interesting projects

In life, there are no absolutes, no firm good life or bad life, no definite rights or definite wrongs. What you have too much off and willingly forgo, others may kill to obtain them. What you think is life dealing you a raw deal, others may feel that it's a walk in the park.

The rule of thumb in life for me is to appreciate what I have NOW, and treasure every moment.

AND I AM A LOOONNG WAY OFF FROM PRACTISING WHAT I PREACH.



Photo credit here.

Post Date: 6 Jul 09

Sunday, June 28, 2009

2 down, 8 to go

We had full attendance for this week's session. All in, we spent 7 hours.

Somehow, amid all the frantic activities and relentless countdowns, we broke even. Which is supposed to be a good thing.

Talking about good things, some people need to learn that there is such a thing called "too much of a good thing".

Wifey is feeling the frustrations and doubts, no thanks to fatigue.

Menu: bottled herbal tea with individual bread



Post Date: 29 Jun 09

Friday, June 26, 2009

Michael Jackson dies at 50



http://edition.cnn.com/2009/SHOWBIZ/Music/06/25/jackson/index.html

(CNN) -- Michael Jackson, the show-stopping singer whose best-selling albums -- including "Off the Wall," "Thriller" and "Bad" -- and electrifying stage presence made him one of the most popular artists of all time, died Thursday, CNN has confirmed.

He was 50.

He collapsed at his residence in the Holmby Hills section of Los Angeles, California, about noon Pacific time, suffering cardiac arrest, according to brother Randy Jackson. He died at UCLA Medical Center.

Lt. Fred Corral of the Los Angeles County Coroner's Office said an autopsy would probably be done on the singer Friday, with results expected that afternoon.


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Wow. Was driving along the KPE when I heard the news. I remember back in 1982, Sis and I pestered Dad to buy what was our first ever album - Thriller. We played the cassette on the player and had much fun memorising the lyrics.





Thanks, MJ, for the memories. May you rest in peace.



In related news, ex-Angel Farrah Fawcett died today also, aged 62. Fawcett, who checked into a hospital in early April, had been battling anal cancer on and off for three years.



Photo credits here and here.

Post Date: 29 Jun 09

Sunday, June 21, 2009

1 down, 9 to go

The week went by slowly, agonisingly. All the cleaning up, packing up, buying of stuff, anticipation, fitful sleeps. Thu came and went, then Friday, then finally Saturday.

We prepared whatever we could prepare already. Thankfully Saturday went without a hitch, logistically. But some things just never change, eg. exacting standards, astronomical scores, lots of dust and tons of fatigue.

I can be bitter about the whole exercise. But for now, I want to take the positive - I'm just glad Sat's over and I can finally do all those personal admin things that I have put off for a week.

1 down, 9 more to go.

Menu: Bottled herbal tea with mini muffins



Post Date: 24 Jun 09

Thursday, June 18, 2009

Lenovo vs MacBook Air

Hilarious old ad, but somehow I missed it.



Post Date: 18 Jun 09

Tuesday, June 16, 2009

What are the chances ...


*Update 19 Jun 09, Friday*

Ok, collected the car today. Case is still pending, but typically the workshop will quickly fix the car first. No loss to them, either way.

Now that I've calmed down, maybe it's better to 破财挡灾 instead of bodily harm. Oh well ...





... of your 5-year-old car needing its alternator replaced (and making you poorer by $620) one day, only to have an idiot who didn't check and opened his car door and damaged your door and side mirror that same afternoon?

Quite high, apparently! CB...



Post Date: 18 Jun 09

Does history repeat itself?

Of course it does, silly!

All shall be revealed this Saturday.

Dear Lord, please give me the mental strength to proceed ...



Post Date: 16 Jun 09

Monday, June 08, 2009

A positive attitude

Was re-introduced to this set of powerpoint slides again today.

Simple Guidelines to Happiness

1. Free your heart from hate
2. Free your mind from worry
3. Live simply
4. Give more
5. Expect less



Post Date: 8 Jun 09

Friday, June 05, 2009

Reminder to self

1. People look down on you -> not confirmed, could just be due to perception

2. You look down on yourself = people look down on you -> confirmed, because people will see you just like how you see yourself

3. There is such a thing called a self-fulfilling prophecy



Post Date: 5 Jun 09

Sunday, May 31, 2009

So we lost ...



... but we put in one hell of an effort! And how about the fastest goal in Cup history, at 29 sec??



Post Date: 2 Jun 09

Saturday, May 30, 2009

2nd Anniversary



Hi Father,

How have you been? It's been 2 years since you moved to the Other World. Hope things are ok at your end.

It may have been 2 years already, but I still think of you a lot. I think of the days when I went over for dinners and gatherings, and the short discussions we had on current affairs. I fault myself for not knowing you more while I had the chance. This is a regret I am committed not to repeat with Mum.

Talking about Mum, she's been keeping up with her activities - mahjong, lunches with friends, trips to Chinatown, etc. Recently she revealed that the Vietnamese girls have become quite a handful. The new girl's obsession with cucumber therapy has spread to the other 2. As such, the opening and closing of the fridge door has increased tremendously. Not to mention the extra load that the fridge now has to cool. Mum communicated these concerns to the girls, and the situation has improved, somewhat. Things have also started to break down in the house, eg. the fan in their room and the leaky pipe in the kitchen. "Thank goodness their lease will be up in August", Mum said gratefully.

Linked to this topic of the lease expiry is the issue of Mum being alone again. We have not abandoned the idea of selling our house and temporarily moving in with Mum. But my preference and the long term solution to this is still to find a place near to Mum. I had always wanted to live in a condo, and there is a recent development down the road. While it seems like we may be able to handle the monthly payments, I'm a little worried about over-stretching our expenses. Considering we are still in a recession, I can't be entirely certain about job security. With August coming, we are in a fix. If possible, can you give us an idea or two?

On the baby front, I regret to say that even after 2 IUI sessions, the result is still negative. The little fella is proving to be more elusive than we thought. I had a chat with Wifey the other day. I feel that, if it's not meant for us to be parents, then let's not force the issue and 逆天而行. Wifey is agreeable also.

I have a confession to make to you. Last week, I made your daughter - my wife - cry. As I type this, I still get the guilt pangs inside me. Sigh. I don't know of any man that made his wife cry and still call himself a good man. You see, on that fateful Saturday, we were meeting up with our insurance agent, and I was feeling really uncomfortable about surrendering more premiums to this guy, and in the process further padding his pockets. I just couldn't get what he was explaining through my clouded mind. I got angry with her because I felt that she had already understood the policy terms, and was slighting me with her words and mannerisms. On top of that, there was this issue of applying for a credit card. She was upset with me for insisting that she apply for a particular card that she believed she wouldn't qualify for. I felt that she didn't trust me when I said the bank will approve her application.

For half a day, I didn't talk to her. I was just so mad, and felt so betrayed! This was the biggest fight (can I call it that?) in our 10 years of marriage. It was only on Sunday afternoon that she asked if I was ok. I let out 20% of it. And that was when she cried. In public. It was later in the day, at home, that we sat down and talked about the issue proper. Wifey said, in between sobs, that if she had unintentionally hurt me with her words, she apologised. I told her that her words and action didn't help, after:

1. being tired before, during and after the trip
2. reading how senseless it is to be paying huge premiums for what we were about to buy
3. remembering how much we will be padding the agent's pockets
4. and finally, despite all of the above, still have to go with the flow due to the inability to think of alternatives

There and then, I wasn't too sure if I was disappointed with Wifey, or with my incompetence. I think she was the spark that started the imminent inferno. It took me about one day to calm down after that. When I came to my senses, I felt really bad about the whole episode. Wifey wouldn't intentionally want to hurt me, I rationalised. My misgivings about myself made me forget all the contributions to my well-being and our relationship that Wifey has made over the years. And then I remembered my promise to you - to look after Wifey and Mum in your absence. That night, I cried uncontrollably in Wifey's arms and asked for her forgiveness. I had wrongly accused her. I told her I don't know how to face you for breaking my promise, and I meant it. I really, really, really need to have more self-confidence and stop looking down at myself. I don't know how, or from where, but I'll work on it.

I'm sorry Wifey. And I'm sorry, Dad.

We are ok now, Wifey has forgiven me. But it'll take a while more for me to forgive myself.

How about you, Dad? All ok at your end? Hope they are.
Please continue to bless Mum with good health and 4D/TOTO luck.
Please continue to bless Wifey with job satisfaction and the love for life.
As for me, please let me come to my senses, drop my baggage so that I can finally learn to smell the flowers.

Take care, Dad. Miss you.

Yours sincerely,

Your hope-not-beyond-redemption-yet son-in-law



Image credit here.

Post Date: 2 Jun 09

Thursday, May 21, 2009

This morning's dream

Could be a warning not to be too impatient, or always wanting to be different.

~~~~~~~~~~~~~~~~~~~~~~

Was with Mum and 7th aunt, queuing up for something. Was waiting for quite a while, and I decided to look elsewhere. Told Mum I'll go check other places with shorter queues.

Vividly remember going upstairs. Appeared to be a classroom, complete with teacher. Got chastised for barging into her lesson. Had the feeling of being belittled.

Went down via another exit, and began to lose my way (nothing new there). It took me a long time to get back, as by then, the sky had darkened. I walked into a recently-ended lion dance / Chingay-type of celebration. Recently-ended because the confetti was still up in the air.

Moral of the story: patience is a virtue and straying from the group may cause you to miss a good show.



Post Date: 21 May 09

Wednesday, May 20, 2009

That sinking feeling

Back for the 3rd day already, but the feeling still hasn't been shaken off.

It's that... sad, helpless feeling that makes one moody, uninspired, questions one's self-worth and role in this Universe.

Is there a Dementor around, or is it just fatigue and exhaustion?



Image credit here.

Post Date: 20 May 09

Wednesday, May 13, 2009

Phuket trip



Off to Phuket for 4 days. Somehow, not as excited about this trip as compared to the rest.

But more importantly, we are hoping to score a Made-In-Thailand.



Image credit here.

Post Date: 20 May 09

Friday, May 08, 2009

Taking Refuge in the Triple Gem



Tomorrow, Wifey and I are getting a new lease of life.



Image credit here.

Post Date: 8 May 09

Saturday, April 25, 2009

New Mazda 3



Went down to the showroom today. The 1.6 luxury sedan model costs $69,988, less $1,000 early bird discount if book by tomorrow.

The look and feel is not bad, but I think the price is steep. Have yet to read any reviews though.

I will need to pay another $2,000 odd to the finance company after trading in Elliot. I'm not for increasing my monthly installment of $600. Based on the installment calculator:

- Mthly installment: $625
- Interest rate: 2.5%
- Loan period: 10 years
- Loan amount will have to be $60,000

Which means I need to fork out about $10,000, including the $2,000 to the finance house.

$10K? From where??



Image credit here and here.

Post Date: 27 Apr 09

Wednesday, April 22, 2009

Voice in Head Series - 初一

This morning, while bathing, my mind was working again.

Me: It's been sometime since Wifey and I went to offer prayers to 注生娘娘.

Then Voice in Head spoke.

VIH: Why don't you go this weekend?

After the bath, I quickly got out to check the Chinese calendar. Guess what? This coming Saturday is 初一.

Divine assistance?



Post Date: 27 Apr 09

Tuesday, April 21, 2009

Britain's Got Talent - Susan Boyle

Pure inspiration, much like Paul Potts.





Post Date: 27 Apr 09

Monday, April 20, 2009

We are in the FA Cup finals!



We are going to Wembley to meet Chelsea!

From www.evertonfc.com:

Man United 0-0 Everton (2-4 AP)

Everton are in the FA Cup final.

The Toffees showed character and quality in abundance as they beat Manchester United 4-2 on penalties at Wembley to book a 30 May date with Chelsea.

The game was 0-0 after 90 and 120 minutes but Everton had matched their opponents stride for stride for every second of them.

Tim Howard produced two saves in the shootout, while the decisive spot kick, fittingly, was despatched by Phil Jagielka.




Image credit here.

Post Date: 27 Apr 09

Saturday, April 18, 2009

Voice in Head Series - Car park



So I was heading home after another long Friday night.

Me (thinking to myself): I really hope to get a car park lot on the lower floors. Really tired.

Almost immediately, I saw a car heading towards the car park from the opposite direction. Based on his speed, he'll reach the car park first. Which means whatever empty lot on the lower floor, he would get to it before me.

Me: Wah lao eh, how come always get beaten?! How come my hopes are always raised before they are dashed?

Then, the Voice in Head spoke.

VIH: You lament too much.

Me: Isn't it true? He's gonna beat me to it.

VIH: Why are you so sure? You just might get a lot.

Me (not convinced): Let's see.


When I reached 3A, I was dumbstruck - there were TWO lots waiting for me. Wifey didn't see me shake my head in disbelief.



Photo credit here.

Post Date: 27 Apr 09

Monday, March 30, 2009

Bankwest sheds 250 jobs in WA

http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=133000

Bankwest sheds 250 jobs in WA

30th March 2009, 7:15 WST

WA's biggest bank will cut 400 jobs from its workforce due to the economic downturn.

Bankwest confirmed this morning that about 250 roles in WA and 150 on the east coast would be made redundant this year.

The decision comes after four years of rapid expansion that has seen Perth-based Bankwest increase its workforce from 3340 to 5100.

Bankwest managing director Jon Sutton said when he assumed the role of managing director late last year he believed there would be no job losses in 2009.

But a rapidly deteriorating economy meant Bankwest had to make adjustments if it was to remain an efficient and viable business.

"The deteriorating national and Western Australian economies and a high cost base mean Bankwest has no choice but to cut costs to remain competitive,” he said this morning.

"As an independent entity with its own banking licence and board of directors, Bankwest remains committed to being the leading bank for West Australians and to building our business by providing attractive and competitive products for our customers.

"Lowering our costs will strengthen our ability to continue delivering some of the most competitive home loans, deposit rates and credit cards in Australia for the benefit of almost one million customers."

Mr Sutton said Bankwest would continue to be run as an independent bank headquartered in Perth.

He said no retail customer facing roles will be lost under the workforce decision and no stores will be closed.

"I regret the impact on Bankwest staff but those affected will receive severance payments and outplacement support to assist them to find other employment,” Mr Sutton said.

"Decisions of this sort are never easy and are only taken after full investigations of all options available."

Bankwest is a wholly-owned subsidiary of the Commonwealth Bank of Australia.




Post Date: 30 Mar 09

Friday, March 27, 2009

Pop singer England Dan dies of cancer at 61





http://www.msnbc.msn.com/id/29895228/

Seals, John Ford Coley topped charts with hits such as ‘Nights Are Forever’

updated 11:36 a.m. ET March 26, 2009

NASHVILLE, Tenn. - Dan Seals, who was England Dan in the pop duo England Dan and John Ford Coley and later had a successful country career, has died of complications from cancer. He was 61.

Longtime manager Tony Gottlieb said Seals, diagnosed with lymphoma two years ago, died Wednesday night at his daughter’s home in Nashville.

With England Dan and John Ford Coley, Seals had hits including “I’d Really Love to See You Tonight” and “Nights Are Forever,” both in 1976. His country hits in the ’80s and ’90s included “Bop,” “You Still Move Me,” “Love on Arrival,” and a duet with Marie Osmond, “Meet Me in Montana.”



“I’ve loved to play and sing from the moment I knew what it was,” he told The Associated Press in 1992.

Seals, who is survived by his wife and four children, was in hospice care when he died.

“He was very positive,” said Gottlieb, Seals’ manager for about 30 years. “He participated in several clinical trials to assist with research on this type of lymphoma.”

Gottlieb said a major misconception about Seals is that he was a pop singer who came to country music. In reality, he said, Seals grew up singing country music and crossed into pop.

“He was raised in a very rural part of West Texas. His father was an amateur country singer, and he used to play with his dad. They were Hank Williams, Grand Ole Opry people. He was much more of a country singer than a pop singer.”

Seals’ older brother, Jimmy, was the Seals in Seals & Crofts, who recorded the hits “Summer Breeze” and “Diamond Girl” in the 1970s.

Until Dan Seals got sick, the brothers were working as a duo, Seals & Seals. They performed some shows and were recording an album but never finished it. The songs they did complete, about eight in all, will be released.

“In the last two years he only did like three shows,” Gottlieb said. “He just didn’t have the energy.”

Seals, whose father was a pipefitter, was born in McCamey, Texas, and grew up in Iraan, Texas, and Dallas.

His well-crafted songs tended to be insightful and graphic with lofty themes. In 1989, his music video for the song “Rage On” addressed a topic rare in country music: an interracial relationship. It showed angry youths smashing the windows of the car of a young man dating a girl of a different race. One boy hurled a beer bottle at the girl’s father. The song itself was about small town values.

“When we record songs, we take chances,” Seals said at the time. “We feel we are on the cutting edge of what we can do.”


I loved the song “I’d Really Love to See You Tonight” and had blogged about it. Thanks for the music, Dan, and may you rest in peace.



Photo credit: here and here.

Post Date: 30 Mar 09

Thursday, March 19, 2009

Board games, anyone?

Strange dream last night/this morning.

Bumped into an ex-CEO who appeared to be extremely friendly (unlike in real-life). He was so friendly that when he asked if I wanted to play board games at his place, I said YES!

We walked through a crowd that recognised their boss. Very soon, we reached his place and proceeded to play the board game (can't remember what game) on the floor.

He then had 3 friends come over - 1 guy and 2 girls. And the girls were in bikini tops, if I remembered correctly. The bikini tops must have meant nothing to me cos I only remember their image when they first entered the house, and no more after that. I even farted near one of the girls when I was reaching across the game board to move my token.

And then I woke up.

Told you the dream was weird ...



Post Date: 19 Mar 09

Wednesday, March 18, 2009

Our first intrauterine insemination

Had our very first IUI procedure done today. Gynae wanted the procedure done at 1pm, so we submitted the sperm sample for washing around 10.45am.

We went for lunch and went back to pick up the washed sample around 12.50pm. Gynae came around 1.10pm, and by then, the nurse had already led Wifey to a back room to get her "ready". Sadly, I wasn't allowed in.

Wifey said it was quite fast and painless, and she was instructed to rest there for an hour.



Photo credit here.

Post Date: 19 Mar 09

Thursday, March 05, 2009

Political leaning

Based on The World's Smallest Political Quiz.





Post Date: 5 Mar 09

Wednesday, March 04, 2009

中国佛教四大名山

1. 普陀山





普陀山碧海蓝天,风景奇特,号称“海山第一”。这里除可以贪图清凉海风外,还有众多的佛国景点。

- 观世音菩萨之道场
- 位于浙江省舟山群岛中的一个小岛


2. 九华山






九华山的大雄宝殿, 离最高山顶不远。九华山有两坐叫大雄宝殿的寺庙;这坐是比较底的。

- 地藏王菩萨之道场
- 位于青阳县安徽省


3. 五台山





五台山有东、西、南、北、中五个台顶,盆地与山峦交错,形成一处色彩鲜明、气候凉爽、适宜人们浏览和避暑的风光宝地。

- 文殊菩萨之道场
- 位于五台县山西省


4. 峨嵋山/峨眉山





唐代诗人李白诗曰:“蜀国多仙山,峨嵋邈难匹”。

- 普贤菩萨之道场
- 位于峨嵋山市四川省























普陀山 photo credit here.
九华山 photo credit here.
五台山 photo credit here.
峨嵋山 photo credit here.
Big map photo credit here.

Post Date: 5 Mar 09

Monday, February 09, 2009

Thank you, 佛,菩萨 ...



... for arranging someone who recognised us as new birds and patiently explained the proceedings to us

... for putting familiar faces there so that we won't feel so awkward

... for letting us be one of the earlier recipients

... for having the 主持 remember me, and giving me some tips

... for letting us find a carpark lot very quickly back at home

... and finally, for providing an empty lift so that we don't have to explain anything to anyone.

Thank you.



Image credit here.

Post Date: 16 Feb 09

Tuesday, February 03, 2009

RBA slashes official interest rate

Original article here.

3rd February 2009, 12:30 WST

The Reserve Bank has slashed the official interest rate by one per cent today, taking it to its lowest level since the 1960s.

Following the Rudd Government's $42 billion package to kickstart the economy, the Reserve board cut the official cash rate to 3.25 per cent.

For a person with a $300,000 mortgage, the cut will be worth $182 a month if fully passed on by commercial banks.

In a statement, bank governor Glenn Stevens said the near term outlook for the global economy was the "weakest for many years", although he added that conditions in Australia were much better than those overseas.

However, problems were intensifying while the threat of inflation was receding.

"The combination of last year’s financial turmoil, a severe global downturn and substantial falls in commodity prices has had a significant dampening effect on confidence, and therefore on prospects for growth in demand," he said.

Mr Stevens drew special attention to the Government's package, effectively giving it the Reserve's seal of approval.

"In making its decision, the board took into account the package of measures announced by the Government earlier today," he said.

"The combination of expansionary monetary and fiscal policies now in place will help to cushion the Australian economy from the contractionary forces coming from abroad."

Since September, the bank has cut the interest rate by four per cent - the deepest cuts in the shortest time frame in the Reserve's history.




Post Date: 3 February 2009

Friday, January 30, 2009

Start to the Year of the Ox - Sianzzzz

The New Year, like all new years, started with Wifey and I rushing through the last bits of our spring cleaning. This year though, was a bit more meaningful, as we went beyond the usual - we got ourselves new roller blinds (finally!) for the master bedroom, re-did the silicon lining in the master bathroom, fixed the leaky toilet flush, and Wifey tried her hands at baking pineapple tarts for the first time.

So things started well enough.

By the end of the 2nd day, I was damn sian already, and by the end of the 4th day, I was totally gone. CNYs have a tendency to bring out the worst in me. It must have been a combination of some (or even ALL) of the following:

1. In the eyes of mum-in-law, no matter how well I do, how concerned I am about her well-being, how hard I made her laugh, I'm still only the son-in-law. I can't shirk away, cos I made a vow to Dad ...

2. The 2nd day of CNY is always spent on the couch of mum-in-law's place. Wifey will be playing mahjong with her relatives (which she hardly does nowadays), and I will be awkwardly entertaining myself on the couch. TV, book or sleep? It's unimaginable to be idling the time away on the 2nd day of the New Year, but I'm just too polite to pack up and leave. Caught between a rock and a hard place.

3. I wish I am invisible when it comes to crowds. The need to make small talk, the friendly laughs, where do I stand, do I join in the conversations ... ARRRGGHHH!

4. And then there's the baby thing. Younger cousin-in-law is already undergoing IVF treatments. As for us? We haven't even freaking started! And someone actually said to me " After 1, 2 years of trying, if there's still no news, must go for assisted programmes already. Cannot wait." I wanted to shout back "I KNOW!", but was afraid of the return, "So why didn't you?" Sigh. Somebody who already has 3 boys, is going to be a father again. This time to a girl. Time is running out for us. I'm so depressed.

5. And who can forget the frustrations of money. For the longest time, since I started work, I have pegged all my break-out-of-the-rat-race's-vicious-cycle and time-to-buy-a-private-property hopes on my investments. I studied them carefully, trying to understand and acquaint with the different products. Stocks, unit trusts, foreign currencies, insurance, emerging markets, AP ex-J ... I have them all. Despite doing this for the good part of the past 10 years, I am no where near to declaring "Let's use this money for a condo". Hell, the entire portfolio is down 50%, I think! WTF??!! These investments were meant to be the cornerstone of my imminent success!! Ha, what a joke! Where did I go wrong? WHERE DID I GO WRONG? How is it that people can buy one private property after another, whereas I don't even have cash to do proper renovations for my HDB flat??!! Urrrgh!

THIS SINKING FEELING SUX BIG TIME!!!



Photo credit here.

Post Date: 30 Jan 09