Sunday, May 30, 2010

EURO Crisis

The EURO has dipped 20% against USD in just 2 mths. What a sad thing… seems like my salary and saving are slashed 20% if converted to Malaysian Ringgit. The tumbling of PIIGS has dragged the whole EU down. Germany and France have to blurt out astronomical figures to try salvaging the crisis, it pissed off many taxpayers. Now who can say the idea of regional single currency is invincible?

Middle East countries have idea to implement similar single currency policy. I reckon the crisis keeps them back-off now.

Friday, May 21, 2010




Financial Regulatory

German Chancellor’s ban on the naked sell came unexpectedly, stirring panic in the European market, worrying any uncertain subsequences may follow. The motion was to curb the speculation during financial turbulence. Many hedge funds expressed their disapproval, saying the short selling is not as serious as people thought, of course they voiced out from their own interest.

This ban should have been imposed long time ago. The speculators abuse it as gambling tools to generate fortune. The ordinary investors are forced to pick up the consequences. The ban wouldn’t be much effective if other major stock markets do not implement the similar measure.

Monday, May 17, 2010




Friday, May 07, 2010

DOW Plummet

8:45pm local time, within 5 minutes! Yes! within 5 minutes! I was watching the Dow Jones Index plummeting from losing 200pt to almost 1000pt and breached the 10,000 level! The market was irrational PANIC! Miracle happened at this moment, the index rebounded swiftly right after. There must be interference from powerful institutions at this critical moment, triggering appropriate mechanism to calm the fear.

I guess the fall will continue unless the Greece Debt crisis comes up with a win-win solution. Probably Greece is too clever (cunning) to balloon up the problem to force EU and the world to salvage their crisis.

Monday, May 03, 2010

My Mood

It’s raining outside…
Like to see the impenetrable thick dark clouds hanging low under the sky, shielding the mountain top.
Like to hear the tinkling raindrops splashing on the ground.
Like the colour of rain-soaked green leafs , it’s soothing but not able to rejuvenate my mood.

Greece Debt Crisis

Eventually Greece has agreed to a bailout deal With EU and IMF. Have expected so, Germany wouldn’t let Greece collapsed or indirectly they’re declaring the death of EURO. The opposition to lend a hand to Greece was loud, over the fact that this EU member has not been abiding the rules and seriously corrupted. They would rather see Greece stepping out from EURO zone, would be good to both EURO and Greece himself, though this will depreciate EURO significantly in short term.

Greek Prime Minister said he would do anything to avoid the country going bankrupt. He urged Greeks to accept “great sacrifices.” The recently amended law allows Greece citizen to retire at as early as 50/55 yr old, with 80% monthly salary for 36 yrs. I don’t have to be an economist to tell this shit policy will bring the country economy to hell. Stern austerity measures must be enforced – to extend retirement age, raising VAT to 23%, freezing salary etc. Meanwhile lots of Greeks complained the 5% interest rate of the EU bailout is far too high. What do you want? There is no free lunch my dear.

Meanwhile Spain’s unemployment has reached the alerting 20%! Another bomb would be detonated anytime. The economy of Spain is the 4th largest in the EURO zone. The bailout would be much more costly than Greece. Hard to believe Europe economy is recovering yet.

Saturday, May 01, 2010

First of May

First of May, known as Labour Day in many countries. What does this day celebrate? The labour market is cruelly competitive. Lower class labours struggle to meet the very basic needs of daily life, while higher management manipulates politics to seize power and fortune.

The longer I stay in this country, I realize better the general capability and capacity of labour market here. Qualified personnel and skilled manpower are hard to obtain. My director said I had set the standard too high. Maybe he was right, I shouldn’t compare the standard at par with Asian markets.