The Great Repricing

A great speech by Singapore's Foreign Minister George Yeo, delivered at the Cambridge University on 27 March 2009. The Great Repricing.

Bush's greatest moments

Everyone is talking about Obama now, and the economy. Let's not forget the good old days, when we had George Bush entertaining the world.
Here are some funny ones:

"I just want you to know that, when we talk about war, we're really talking about peace." --Washington, D.C. June 18, 2002

"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." --Washington, D.C., Aug. 5, 2004

"We found the weapons of mass destruction. We found biological laboratories ... And we'll find more weapons as time goes on. But for those who say we haven't found the banned manufacturing devices or banned weapons, they're wrong, we found them." --Washington, D.C., May 30, 2003
"Those weapons of mass destruction have got to be somewhere!" --joking about his administration's failure to find WMDs in Iraq as he narrated a comic slideshow during the Radio & TV Correspondents' Association dinner, Washington, D.C., March 24, 2004

"If this were a dictatorship, it'd be a heck of a lot easier, just so long as I'm the dictator." --Washington, D.C., Dec. 19, 2000

"I am here to make an announcement that this Thursday, ticket counters and airplanes will fly out of Ronald Reagan Airport." --Washington, D.C., Oct. 3, 2001

"I know how hard it is for you to put food on your family." --Greater Nashua, N.H., Chamber of Commerce, Jan. 27, 2000

"They misunderestimated me." --Bentonville, Ark., Nov. 6, 2000

"For every fatal shooting, there were roughly three non-fatal shootings. And, folks, this is unacceptable in America. It's just unacceptable. And we're going to do something about it." --Philadelphia, Penn., May 14, 2001

"I know what I believe. I will continue to articulate what I believe and what I believe -- I believe what I believe is right." --Rome, Italy, July 22, 2001

"The most important thing is for us to find Osama bin Laden. It is our number one priority and we will not rest until we find him." --Washington, D.C., Sept. 13, 2001
"I don't know where bin Laden is. I have no idea and really don't care. It's not that important. It's not our priority." --Washington, D.C., March 13, 2002

And.... one of his last words,

"Goodbye from the world's biggest polluter." --in parting words to world leaders at his final G-8 Summit, punching the air and grinning widely as those present looked on in shock, Rusutsu, Japan, July 10, 2008

Obama Outraged at AIG bonus payments (again!)

President Barack Obama is outraged, and rightly so. After AIG is being kept alive on a government bailout of up to $180 billion, they are intending now to pay out $165 million in bonuses to their talented executives.

"This is a corporation that finds itself in financial distress due to recklessness and greed," Obama said. "Under these circumstances, it's hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay," he said at the White House.

This is ridiculous. AIG played around with the public money, lost billions, brought down the whole whole, come to the taxpayers to ask for bailout, and now reward themselves with more millions? What talents are there if they lose billions? What rewards should there be for risking and losing people money? How can the taxpayers pay them bonus again?

The Credit Crisis

The Credit Crisis - Animatic from Jonathan Jarvis on Vimeo.

I first saw this from Mr Brown's blog, and must say this is a very good and simple explanation of the the current crisis. My question is: Is Money a Zero sum game? How is it the world has so much money the last few years? And now where have all the money gone to?

Japan Holiday – Mt Fuji

We went to the famous Mt Fuji, and we love it! Its beautiful! It is so well-shaped. They said every Japanese must climb at least once in a lifetime. But if one go a second time, he is crazy. Hee hee. You have to go, absolutely no regret!

Mid point tourist rest point in Mt Fuji.

However, may I suggest you should also go to Mt Hakone, a mountain just beside Mt Fuji. To get there, you have to travel on a nice cruise boat on a mountain lake. See picture below. Then you take a cable car up to the peak. From this peak, you can have a great view of Fuji at the side.


Here is a sunset view of Mt Fuji from Mt Hakone.
There is also many nice spa resorts on the foot of Mt Hakone, very nice. Too bad I didn't book the resorts here. Maybe next time.


How was Mt Fuji formed?
They said Fuji is the last the three mountains to emerge from the volcanic eruptions, and it is certainly the most awesome. The earlier two erupted furiously and quickly, and as such, their shapes were not so symmetrical and well-formed. Mt Fuji volcano lava burst in two phases, the first is quick and tall, while the second phase of volcanic lava was slow and gradual. As such, the lava flow down slowly and nicely, creating a nice, symmetrical, majestic looking mountain. Lessons for us, if we want to create something beautifully, sometime we have to do it slowly, patiently, and over a couple of phases.

Singapore Government and Election

In Singapore, the people are talking about when is the next General Election again. Given that the recession is beginning to hit here, and its expected to long and hard, I think this is a good time for an election for the ruling party. It's strange that when the economy is down, then it's a very good time to call election. Many Singaporeans are pragmatic people, and their first worry is bread and butter issues like the economy, jobs, etc. And ruling party PAP has proven itself to be the best economic architect for Singapore, and many people would voted for the safest choice party. This was what happened during last Sept11 recession where PAP got one of their best mandate so far. Of course, some people would voted for the opposition because recession is hitting the pocket, and they would then started to blame the government. However, the current recession is unique and unprecedented where it hit the whole world. No one in Singapore would be able to completely defend itself. Given Singapore's small size and lack of natural resources, what has been achieved thus far is already remarkable. However, if recession hit many people very long and hard, ground resentment could grow so strong that the people vote for the opposition no matter who they are. It will become simply a vote of protest, rather than a choice based on merit.

Ironically sometime when the economy is good and everyone is well taken care, then it may be a bad time for election for the ruling party. When the basic needs are there, then people will start to demand more freedom, more alternative voices, more autonomy, more checks on the party, and risk-taking in choice of party leadership. As such, a myriad issue would be raised in the election speeches.

I am not necessarily a 100% pro ruling party supporter. But honestly, given what Singapore has achieved from our humble past as a tiny nation as British colony and independence in 1965, to now a city state with first world living standard and per capita GDP, I have to say our government has done well. Many countries which are bigger, older, and richer (in natural resources) than us did not done as well. Of course, not everything is nice here. There are indeed many concerns in the ways the party runs the Republic. I have lived through many elections in Singapore, over three places, but yet I have not been able to vote. My three different constituencies have always been walked over, meaning no Opposition contestion. As such, I have never been able to exercise my right as a democratic citizens to vote. But does it matter? I have learned to view Singapore as Singapore Inc company. The country is run like an enterprise. The board decide and pick the management, and staffs do not vote their management.

Given the current structure, I think it is extremely hard for Singapore to grow a strong and viable two parties system like USA or UK. Neither will a system of many small and weak opposition parties be a path. There are many reasons for this, perhaps we can talk about another day. Unless there are severe crisises, I think Singapore will continue to be ruled by one dominant ruling party, with a few small oppositions as a token alternative voices on the government.

So long as everyone is happy, got a good job with reasonable pay, we do our work and move on in life. Let the leaders do their work in continung the good work. Until such a day when the party has degenerated into a corrupt party, we will kick it out. Pray that day will never come.

We cannot expect a perfect government. Every party has its strength and flaws. Judged on it's whole, it has done well. If there are flaws, raise it as a constructive feedback and we solve it together. Just dont get into childish complaints and protest without offering a good solution.

Japan: Sleeping Japanese Ladies from Different Eras

These two Japanese ladies from two different era and sub-culture were sitting side by side and sleeping in a Tokyo train. The traditional lady is sitting up straight, prim and proper. The modern lady was in a not-so-elegant posture, and couldn't care less.

Interesting evolution of tradition culture.