The water appears calm but a storm is approaching.
Comments and warnings by many experienced businessmen and investors are disheartening:
George Soros, 81, previously bet against the British pound in the early 90s and made $1 billion off its collapse says in January 2012:
“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”
Robert Kiyosaki, author of Rich Dad Poor Dad series warns in year 2011:
“Economic collapse is coming. I encourage Americans to stock up on food, guns and precious metals. “
The acclaimed, and highly accurate trends forecaster Gerald Celente is warning America again that a complete economic collapse is closer than ever before.
It is better to be prepared than to be caught unprepared. I hope I m prepared. How about you?
Tuesday, June 26, 2012
NKF, Renci and City Harvest Church saga
About 6 years ago, the NKF scandal broke out and the public find out that money raised for charity was used to provide a luxurious lifestyle for the board members in NKF. This was followed by the scandal in Renci Hospital and involved a high-ranking monk. Now, we heard a similar story from City Harvest Church. I believe the leaders in all organization started out with good purpose and intentions. When the pool of money grew, so did their personal ambitions. Inside their heart, a struggle for personal gain and public good ensued. Their personal gain won and a cover-up and show for the general public was staged.
In the NKF scandal, a lady by the name of Matika was infamous. It was understood that within two years, her salary increased 5 fold to more than $100,000 per year because of her good performance. She was not the first one to use sex for money and neither will she be the last one. The recent spate of scandals involving many government agencies chief is proof.
As the experts say, the names changed but the story remained the same. You may also remember a story told in schools, a wolf in sheep clothing. The recent spate of scandals in government agencies reminded me of a blog I wrote earlier “ Does lady bankers skirts have to be so short?”
I hope we learn an important lesson here. History repeats itself. The more things change, the more they remain the same.
In the NKF scandal, a lady by the name of Matika was infamous. It was understood that within two years, her salary increased 5 fold to more than $100,000 per year because of her good performance. She was not the first one to use sex for money and neither will she be the last one. The recent spate of scandals involving many government agencies chief is proof.
As the experts say, the names changed but the story remained the same. You may also remember a story told in schools, a wolf in sheep clothing. The recent spate of scandals in government agencies reminded me of a blog I wrote earlier “ Does lady bankers skirts have to be so short?”
I hope we learn an important lesson here. History repeats itself. The more things change, the more they remain the same.
Tuesday, June 12, 2012
Is the COE system working?
Would you ever believe that price of a car in land A is equal to the price of a home in land B. Is this for real?
According to Bloomberg Businessweek news, the cost to own and drive a car in Singapore is now $150,000, about the same as the median price of a U.S. Metropolitan home. The question then becomes are the home in USA undervalued or cars in Singapore overvalued? Judging from the car showroom poor sales, I suspect Singapore cars is overvalued.
Clearly the COE system which is intended to ease traffic congestion to Singaporeans is not working. The fact remains there is slow moving traffic in many areas during peak travelling hours. In addition, there are insufficient car parks lots in many areas. In Macpherson, the problem is so bad that cars are parked illegally at the double yellow line at night. This is despite a new car park was built recently. The COE system I suspect has to go.
Value investors can sell their cars and then buy a home in USA. When the price of cars fall by half, investors can sell their homes and buy 2 cars.
According to Bloomberg Businessweek news, the cost to own and drive a car in Singapore is now $150,000, about the same as the median price of a U.S. Metropolitan home. The question then becomes are the home in USA undervalued or cars in Singapore overvalued? Judging from the car showroom poor sales, I suspect Singapore cars is overvalued.
Clearly the COE system which is intended to ease traffic congestion to Singaporeans is not working. The fact remains there is slow moving traffic in many areas during peak travelling hours. In addition, there are insufficient car parks lots in many areas. In Macpherson, the problem is so bad that cars are parked illegally at the double yellow line at night. This is despite a new car park was built recently. The COE system I suspect has to go.
Value investors can sell their cars and then buy a home in USA. When the price of cars fall by half, investors can sell their homes and buy 2 cars.
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