I was reading the revelation of financial rape by Greg Smith repeated in several of our main media today. Well at least they concurred that it is important enough to report it more than once. The editors must have their conscience pricked. Greg Smith was a top player in Goldman Sach, New York. He was so disgusted by the rot in the company that he called it quits. And he found it his moral duty to reveal the unethical practices of the company.
Any clients of Goldman Sach reading what he wrote would shudder at the risk they put themselves into, at the hands of their most trusted fund managers. What Greg Smith was saying is that there were no morals, no ethics, except make money, and from the clients against the clients’ interests. The strong culture and integrity of Goldman Sach, a company he once idolatised, has been transformed into a greedy bunch of white collar ruthless manipulators to satisfy their own greed. The clients’ interest is last on their list. Better, exploiting the ignorant clients is their forte and main business.
Among the few things that Greg Smith mentioned, selling products that the company had ‘axed’ to unsuspecting clients. Getting clients to trade or churn to bring in the most profits to Goldman Sach at their expense. And trading illiquid and opaque products.
The whole culture of trust, serving the clients and making decisions to help clients to improve their positions, making money for the clients, are thrown into the rubbish chute. It is profit for Goldman Sach and its traders that is of prime concern. And getting the most out of clients is the main reason for existence than making clients rich. Clients are referred to as muppets, to rip their eyeballs out and getting paid by getting clients to trade regardless of risk.
Is it surprising? Or is there anything new? This culture of greed and irresponsibility, unethical misconduct, is the wine that flows through Wall Streets and all the financial centres around the world. Govts too are caught up by this craze and greedily swim along. The greed of govts is no lesser than the greed of Wall Street financial cheats. They are sleeping partners of crime against the innocent investors who put all trust to these crooks they thought could be trusted and will ensure that the right things are done in the right way.
They believe morality is still a virgin. The truth is that morality has long been turned into a prostitute, sold into prostitution by the greed of these power brokers, the people they trusted most.
3/15/2012
China hard landing
Confirmed, China had a hard landing. Clap, clap, clap. Finally, after so many years of doomsaying and praying, China had a hard landing. The analysts were right after all. China is going to collapse big time and go begging for help from the Western countries, the World Bank and the IMF. Zoeller would have his last laugh. See, we told you so.
Let’s look at the figures from Market Watch, WSJ, for October 2011. The latest figures could be more frightening but have not seen them yet. The trade surplus for August, September and October grew by US$17b, US$14.5b and US$17.76b respectively. The ‘slump’ in September was due poor demand in Europe. And the numbers really fell below the expectations of Newswires and Reuters, forecasting a growth of US$25.8b and US$24.9b respectively. These are dangerous numbers and signs of weaknesses and can become more widespread.
More dangerous signs, ‘Exports were 15.9% higher than a year earlier, though missing the average 16.5% growth projection from a Reuters survey of economists, and below the 17.1% rise in September.’
And according to ‘Bank of America-Merrill Lynch, Chinese exports grew 20.6% on average each month throughout the third quarter, while imports averaged 24.8% growth.’
The growing imports and shrinking exports must be troubling China and its decision makers. I am just wondering, would the US or European countries be happy to achieve these numbers? I bet many of them would love to have such a hard landing and probably asking for more. And I am sure many of the EU countries would love to switch places with China and celebrate every time the growth numbers failed to meet the forecasts of Newswires and Reuters but still registering a 20% average monthly growth. Even an average of 10% monthly growth would be like striking the biggest jackpot win.
I really love all these enlightening and frightening reports about China. And I don’t see why China should be crying with all these conjectured hard landings. Many would be so envious of these hard landings and would still crawl to China to ask for handouts. And they better pray that the hard landings would still allow China to be generous as there is no more Santa Claus out there except China or maybe Singapore.
Let’s look at the figures from Market Watch, WSJ, for October 2011. The latest figures could be more frightening but have not seen them yet. The trade surplus for August, September and October grew by US$17b, US$14.5b and US$17.76b respectively. The ‘slump’ in September was due poor demand in Europe. And the numbers really fell below the expectations of Newswires and Reuters, forecasting a growth of US$25.8b and US$24.9b respectively. These are dangerous numbers and signs of weaknesses and can become more widespread.
More dangerous signs, ‘Exports were 15.9% higher than a year earlier, though missing the average 16.5% growth projection from a Reuters survey of economists, and below the 17.1% rise in September.’
And according to ‘Bank of America-Merrill Lynch, Chinese exports grew 20.6% on average each month throughout the third quarter, while imports averaged 24.8% growth.’
The growing imports and shrinking exports must be troubling China and its decision makers. I am just wondering, would the US or European countries be happy to achieve these numbers? I bet many of them would love to have such a hard landing and probably asking for more. And I am sure many of the EU countries would love to switch places with China and celebrate every time the growth numbers failed to meet the forecasts of Newswires and Reuters but still registering a 20% average monthly growth. Even an average of 10% monthly growth would be like striking the biggest jackpot win.
I really love all these enlightening and frightening reports about China. And I don’t see why China should be crying with all these conjectured hard landings. Many would be so envious of these hard landings and would still crawl to China to ask for handouts. And they better pray that the hard landings would still allow China to be generous as there is no more Santa Claus out there except China or maybe Singapore.
Am I amused?
I was reading some of the comments in TRE on Shanmugam’s fame statement of not wanting to burden our young with more taxes. One trend of thought shone through the deluge of angry voices. The PAP has lost touch with the ground, did not know what is happening, did not do its homework. Now, now, now, can’t make such sweeping statements about the crème ala crème of our super talents. They would not be where they are and earning millions, if they did not know what is happening or did not do their homework.
I hate to disappoint the losers. They are in control and know exactly what is happening and what they are doing. Period. Do not under estimate the super talents. They are brighter and smarter than the losers for sure. The main difference is that both are existing on the same piece of rock but living on different planes of existence. One is apple and one is buah long long. One lives a lifestyle whereby $50k a month is too pressurizing. The other must be grateful to be able to buy a 2rm HDB flat with $1000 pm income. You cannot compare the two as both are deserving of what they have. Don’t be unreasonable. The rich poor gap is only natural and would get wider as we progress. The rich must get richer and the poor must get poorer. There is nothing that can be done about it. It is the law of nature. Darwinism!
The losers must accept their fate that they are simply not good enough. Why then must the govt bring in more foreign talents? Isn’t that clear enough that the losers are unable to make the best of their lives in such a conducive money making environment and should only have themselves to blame. Look, look, all the foreign talents are so happy here, making so much money and not complaining. If there is anything wrong, it must be the local losers.
Want another spur on your hike? The whole world is being invited to be here to get rich. How could the locals be complaining that they could not make it? This is the freest economy for the meritocratic, regardless of nationalities. The third most competitive country in the world ot do business. I mean do business, not selling bak chang or nasi lemak. If you are good, you deserve to be rich. If you are no good, don’t kpkb. The govt does not believe in a welfare state, not even with your CPF money for your own charity.
And don’t complain that the govt is not doing anything for the people. $1.1b to subsidise public transport. What more do you want? More parks will be built for the people to enjoy. Fresh air and landscaped environment. No good meh? There will be more upgradings and SERS to give more money to the people. Cannot complain lah. The govt is doing everything it can for the good of the people. And the hundreds of billions in national reserves are for the people. Don’t you feel rich? See, all the western countries are in debt and going bankrupt. We got hundreds of billions to buy up fire sale companies for a song. Soon they will be turned around to double the money invested.
The future of our country is in good hands. They know what they are doing. The losers don’t. The writing is on the wall but the losers failed to see. Every policy is carefully fine tuned, targetted for the desired results, by the best talents money can buy.
I hate to disappoint the losers. They are in control and know exactly what is happening and what they are doing. Period. Do not under estimate the super talents. They are brighter and smarter than the losers for sure. The main difference is that both are existing on the same piece of rock but living on different planes of existence. One is apple and one is buah long long. One lives a lifestyle whereby $50k a month is too pressurizing. The other must be grateful to be able to buy a 2rm HDB flat with $1000 pm income. You cannot compare the two as both are deserving of what they have. Don’t be unreasonable. The rich poor gap is only natural and would get wider as we progress. The rich must get richer and the poor must get poorer. There is nothing that can be done about it. It is the law of nature. Darwinism!
The losers must accept their fate that they are simply not good enough. Why then must the govt bring in more foreign talents? Isn’t that clear enough that the losers are unable to make the best of their lives in such a conducive money making environment and should only have themselves to blame. Look, look, all the foreign talents are so happy here, making so much money and not complaining. If there is anything wrong, it must be the local losers.
Want another spur on your hike? The whole world is being invited to be here to get rich. How could the locals be complaining that they could not make it? This is the freest economy for the meritocratic, regardless of nationalities. The third most competitive country in the world ot do business. I mean do business, not selling bak chang or nasi lemak. If you are good, you deserve to be rich. If you are no good, don’t kpkb. The govt does not believe in a welfare state, not even with your CPF money for your own charity.
And don’t complain that the govt is not doing anything for the people. $1.1b to subsidise public transport. What more do you want? More parks will be built for the people to enjoy. Fresh air and landscaped environment. No good meh? There will be more upgradings and SERS to give more money to the people. Cannot complain lah. The govt is doing everything it can for the good of the people. And the hundreds of billions in national reserves are for the people. Don’t you feel rich? See, all the western countries are in debt and going bankrupt. We got hundreds of billions to buy up fire sale companies for a song. Soon they will be turned around to double the money invested.
The future of our country is in good hands. They know what they are doing. The losers don’t. The writing is on the wall but the losers failed to see. Every policy is carefully fine tuned, targetted for the desired results, by the best talents money can buy.
Uneasy calm over Hougang
The usual jostling for a right to stand in Hougang in the by election has quieten down. A few opposition parties have spoken, officially, that they would not undermine WP’s attempt to regain its lost seat. The few opportunists that were habouring the idea of joining the fray have taken a retreat as well. They have been warned, by the voice of the people, that doing so would make them look very ugly, and with eggs on their faces. The opportunist tag is heavy to wear. The image of unprincipled spoilers would nail them for life as non starters in local politics.
The heat has subsided in the opposition camp. The wild ambitions of gamblers thinking that running for election is like entering a casino, hoping to win without any principles or ethics, have been doused, I think. Just place your bet! As each day slowly passes by, reasons seem to have triumph for the moment. Or has it?
On the PAP camp, it is like a defeated army trying to avoid another big battle and risking a devastating and embarrassing blow that would signal that the end is near. No generals would dare to stand up and blow his trumpet to lead the assault to retake lost ground. No one would say the ground is sweet or the chiku is ripe. The best outcome is not to have a contest and sit it out till the next GE.
How long can they be on the bench? The suit by Mdm Muthu is due for hearing by end of the month. Would there be calls for further adjournment for another 6 mths or a year and probably more time to prepare the case as it will affect the nation’s future and security? This is how important this by election is taken to be. The nation’s interests will be a paramount consideration in deciding whether a by election will be called.
The people have spoken, or at least aired its view, that only WP should stake its claim against the PAP. The people are also waiting for a by election to take place soonest. Would this be heard or be ignored? There are other noises that would tell the contrary. No need for by election. The Hougang residents deserve to be in the shit for voting the wrong candidate and the wrong party. Such noise is likely to get louder to make a case for no by election, no need MP representation for the Hougang residents. They must pay for their folly.
While the WP is anxiously waiting to do battle, the opponent is making a quiet retreat, a surprising move from a party in control. Or it is no longer in control, except the timing to call a by election or not? The game has changed.
The heat has subsided in the opposition camp. The wild ambitions of gamblers thinking that running for election is like entering a casino, hoping to win without any principles or ethics, have been doused, I think. Just place your bet! As each day slowly passes by, reasons seem to have triumph for the moment. Or has it?
On the PAP camp, it is like a defeated army trying to avoid another big battle and risking a devastating and embarrassing blow that would signal that the end is near. No generals would dare to stand up and blow his trumpet to lead the assault to retake lost ground. No one would say the ground is sweet or the chiku is ripe. The best outcome is not to have a contest and sit it out till the next GE.
How long can they be on the bench? The suit by Mdm Muthu is due for hearing by end of the month. Would there be calls for further adjournment for another 6 mths or a year and probably more time to prepare the case as it will affect the nation’s future and security? This is how important this by election is taken to be. The nation’s interests will be a paramount consideration in deciding whether a by election will be called.
The people have spoken, or at least aired its view, that only WP should stake its claim against the PAP. The people are also waiting for a by election to take place soonest. Would this be heard or be ignored? There are other noises that would tell the contrary. No need for by election. The Hougang residents deserve to be in the shit for voting the wrong candidate and the wrong party. Such noise is likely to get louder to make a case for no by election, no need MP representation for the Hougang residents. They must pay for their folly.
While the WP is anxiously waiting to do battle, the opponent is making a quiet retreat, a surprising move from a party in control. Or it is no longer in control, except the timing to call a by election or not? The game has changed.
3/14/2012
Everything is for sale – Uniquely Singapore
Put it in another way, everything can be bought in paradise. We can buy honesty, buy loyalty, buy talents, and of course everything else in Orchard Road. That reminds me of all the great properties there. All one needs is money, and you can have your pick.
The latest thing to buy is good character. Pay the bugger for showing good character. In no time Singaporeans will all have good character. Not sure about foreigners. Some have shown that good character cannot be bought even if we pay for their education, food and lodging and a good job waiting for them, even giving them citizenship.
Can everything be bought with money? Good character can? The goodness will go away once the money is not there. Loyalty and pride of being a people, citizens of a country, cannot be bought by money easily. Just issuing a pink IC does not guarantee that the person will want to be one of us. Many are just in transit, transient citizens. The most glaring evident is their children or they themselves refusing to do the little sacrifice that every male Singapore citizen does, National Service.
Please stop throwing tax payers money to the ingrates who are just passing through or waiting for better opportunities elsewhere. And don’t think people can turn good because of monetary rewards. The goodness of a person must come from within that person.
Incidentally we can't even buy a decent football team to compete against Malaysian state teams.
The latest thing to buy is good character. Pay the bugger for showing good character. In no time Singaporeans will all have good character. Not sure about foreigners. Some have shown that good character cannot be bought even if we pay for their education, food and lodging and a good job waiting for them, even giving them citizenship.
Can everything be bought with money? Good character can? The goodness will go away once the money is not there. Loyalty and pride of being a people, citizens of a country, cannot be bought by money easily. Just issuing a pink IC does not guarantee that the person will want to be one of us. Many are just in transit, transient citizens. The most glaring evident is their children or they themselves refusing to do the little sacrifice that every male Singapore citizen does, National Service.
Please stop throwing tax payers money to the ingrates who are just passing through or waiting for better opportunities elsewhere. And don’t think people can turn good because of monetary rewards. The goodness of a person must come from within that person.
Incidentally we can't even buy a decent football team to compete against Malaysian state teams.
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