Dow down 280 pts on Friday

Looks like Dow is bend on spoiling our National Day celebration. Just when everything is turning around, it came crashing down again. And why should the worry of subprime housing loan in the US concern us? This is their domestic management of housing loans and even if it does affect us or the world market, it should be of a bearable nature when funds withdraw some investments out of other markets to cover their losses back home. And some banks here may also be exposed to these loans but should not cause any panic. Even losses of a few hundred millions are not a life of death situation. Our economy is booming and the construction industry is full of works for the two IRs. These are totally detached from the US housing loan woes. So are many industries around the world. But if funds join the fun and short the market down, all the markets will go down regardless of fundamentals. It is about time that Asian bourses detach itself from the domination of Dow and take a life of its own. The Chinese market has taken on a character of its own and without too much foreign fund manipulations it is able to perform on its own merits. We will have to hope that sensibilities are not too badly affected and Asian bourses remain firm on Monday. But it will need some encouragement from analysts and fund managers to make some affirmations that the fall in Dow need not be so deadly and some sectors of he economy are totally undisturbed by the housing loans trouble.

Malaysia heading towards a crisis

Malaysia is heading towards a crisis of unimaginable proportion, worst than May 13. This time it is not because they having too small an economic pie. It is the other way round, they want the whole cake and eat it. And to make matter worst, they are being led by two of the hottest firebrand and ambitious politicians, both trying to outdo each other to prove that they are worthy of the Premiership. Hishamuddin was hot, but he cannot hold a candle to Khairy who is bent to upstage him in all aspects. Khairy is going to prove himself to be a fiercer fighter for the Malay course. He is prepared to burn down anything in his path. On the other hand the MCA and MIC, after their shameless appeasement of UMNO in 1955 by giving in without a fight, is again hiding meekly in their closets without breathing a word of protest at all the changes that are being made to the detriments of the minority races. This time, with better organisation and more power in their hands, the bloodbath is going to be clinical and complete. The kris will be drawn and wash with blood if the firebrands are not stop in their path for personal glory.

Greed has no Shame

As we march down the road towards greed, as we celebrated the virtues and benefits of greed, it is time that we discard all the hypocrisies about goodness, generosity and a caring society. We should boldly embrace the positive aspects of greed and how it drives every man and woman to his best in chasing after more money. It is time to stop all the hypocritical acts of unproductive idealism. Singaporeans must be taught to cherish the culture of greed. That is how we can progress at an ever faster pace, financially and economically. We will have the best of everything money can buy. Anything that were claimed as virtues and money cannot buy were false virtues, mirages, the opium of the poor. There are ample proof and evidence that greed is the driving force in our growth. And everyone who is plainly displaying this by clinging onto whatever they have, title, position, influence and money, to get to more money for themselves, without shame. Singaporeans must be brave to tell the world that this is our culture and our formula for success.

38% return per annum since 2002

Who can match such a sterling performance by Temasek? Wealth added is $23 bil and net value of portfolio from $129 bil to $164 bil or $35 bil added. Thus the 38% return should be somewhere between $23b and $35b. Is it reasonable to say that for the last 5 years, 2002-7, the average return from investment is about $25b times 5 or $125b? Now this number may look too big. How about a ballpark figure of $100b? And this would mean that in 2002, the net portfolio was only $64b. Reasonable? Just guessing. Not going to crack my head on this.

Non Muslim Minister speaking up

Bernard Dompok, a Minister in the Prime Minister's Dept has spoken up against the Islamic State remark. Obviously Bumi Ministers have totally disregard the existence of many non muslims in East Malaysia and have taken their existence for granted. If Malaysia is an Islamic State, then East Malaysia too will come under Islamic principles. The natives and many East Malaysians are not muslims. Bernard Dompok said many people he knew would be very unhappy and they would 'have to contend with the issue for now.' Did he meant to contend the issue or to be contented with the issue for now? If they are to take on the issue now and fight it then there is hope that Malaysia will not become an Islamic State. If they are to be contented with the situation now, then it is as good as Malaysian becoming an Islamic State quitely and surely.