We are well aware that the US Fed and JPMorgan stepped in to rescue UBS, pouring billions of dollars to keep the bank afloat, away from possible chapter 11. It seems ridiculous that a huge and reputable bank such as UBS could get away with mismanagement of funds and investments. Big banks go about squandering away money through ill investments and big daddy government bails them out.
This bailed out occurs amidst US debt that has soared to trillions of dollars, continued oil price hikes and US currency dropping to all time low with no economic recovery insight. There are those who believed US government is least concern with or rather perhaps intentionally wants the cause the US currency to drop as much low as possible since a low US currency would make the country more competitive in terms of exports capability. There are also those who believe in the greater US conspiracy theory; the super power nation has no means and has no intention to repay its soaring trillion dollar debts. A nation speaks the loudest when it has the strongest military might.
Whatever which way you choose to believe, it is evident that US economy is in for a rough ride, world renown investors such as Jim Rogers is pulling his money out from US currency basket and moving into Asia funds. Most Singaporeans are beginning to feel the pinch and the aftermath effects of the oil price hikes, faltering US economy and rising inflation.
I went for a medical checkout at Raffles Medical Center at Causeway Point today. Guess what? The basic doctor consultation fee has increased by 5 dollars. Thus a basic appointment and consultation with the doctor could easily set you back by at least 15 bucks. Medical prescriptions are charge separately. There is a joke that you can afford to die but you cannot afford to get sick. Apart from the oil price hikes now it seems there is sign of shortage of rice. Next what’s on the table for price hikes? We’ll see till then what's next on the card.
Showing posts with label singapore economy. Show all posts
Showing posts with label singapore economy. Show all posts
Thursday, April 10, 2008
Inflation
Wednesday, April 02, 2008
Cactus breeding
Jim Rogers, one of the most successful investor who once heads the Quantum Fund sold off his 15 million Manhattan apartment and relocated to Singapore. Singapore is one of the smallest nations in the world; it is just a tiny red dot in the world map.
The tiny nation has been nominated to host the year 2010 Youth Olympics. This coming September will also see the country hosting its first Formula 1 car rally. Apart from that, the country’s first casino and resort, two be exact is scheduled to open by year 2009 and beyond. Singapore Airline is the fist airline in the world to receive and commence the A380 jumbo airbus service. Aircraft engine maker, Rolls Royce established two new engine facilities in Singapore that would result in creation of new jobs for the population.
Despite intense competition with surrounding nations such as China and India for foreign direct investment, the country has relatively coped well by moving into high value added sectors such as the biotechnology, financial services and information technology areas. There is so much going for the country it seems. Despite the glamour and promising future which the nation can look forward to, looming world economic uncertainties such as the deteriorating US economy, rising inflation, oil price hikes and world political conflicts has considerable impact to the country growth. The full impact of the US recession or the world as a whole to the country will only be felt half to a year timeframe down the road. It remains to be seen how prepare or how well its population is ready to cope with economic downturn.
On a lighter note, more interesting photo shots of the baby cactuses that’s thriving in my home. These cute plants with colorful tiny flower buds are wonderful sights to behold. Over the new few weeks, I am going to try my hands on cross breeding and joining the different cactus species. Here is a link to information pertaining to cactus. http://www.cactus-mall.com/
Cheers Rich
The tiny nation has been nominated to host the year 2010 Youth Olympics. This coming September will also see the country hosting its first Formula 1 car rally. Apart from that, the country’s first casino and resort, two be exact is scheduled to open by year 2009 and beyond. Singapore Airline is the fist airline in the world to receive and commence the A380 jumbo airbus service. Aircraft engine maker, Rolls Royce established two new engine facilities in Singapore that would result in creation of new jobs for the population.
Despite intense competition with surrounding nations such as China and India for foreign direct investment, the country has relatively coped well by moving into high value added sectors such as the biotechnology, financial services and information technology areas. There is so much going for the country it seems. Despite the glamour and promising future which the nation can look forward to, looming world economic uncertainties such as the deteriorating US economy, rising inflation, oil price hikes and world political conflicts has considerable impact to the country growth. The full impact of the US recession or the world as a whole to the country will only be felt half to a year timeframe down the road. It remains to be seen how prepare or how well its population is ready to cope with economic downturn.
On a lighter note, more interesting photo shots of the baby cactuses that’s thriving in my home. These cute plants with colorful tiny flower buds are wonderful sights to behold. Over the new few weeks, I am going to try my hands on cross breeding and joining the different cactus species. Here is a link to information pertaining to cactus. http://www.cactus-mall.com/
Cheers Rich
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