There are many empty apartments in China.
http://www.youtube.com/watch?v=wm7rOKT151Y&feature=player_embedded
http://www.youtube.com/watch?v=wm7rOKT151Y&feature=player_embedded
Thursday, December 1, 2011
Action by Massachusetts Attorney General
I like to share this story about the legal action that is being taken by the Massachusetts attorney general against several large banks for deceptive banking practices. I applaud the action as it shows that there is accountability and that public officials are willing to take action to safeguard the interest of small consumers. Although American is the place where the bad financial practices originated, and spread around the world, there are still people there who have a sense of duty.
http://money.cnn.com/2011/12/01/news/economy/massachusetts_foreclosure_lawsuit/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
Singapore has followed America in adopting some of the bad practices, such as the bad financial products that were created and sold to consumers. It is time for the Singapore authority to realize that they also have a duty to the public and to stop the bad financial products from being marketed to defraud the public.
http://money.cnn.com/2011/12/01/news/economy/massachusetts_foreclosure_lawsuit/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
Singapore has followed America in adopting some of the bad practices, such as the bad financial products that were created and sold to consumers. It is time for the Singapore authority to realize that they also have a duty to the public and to stop the bad financial products from being marketed to defraud the public.
Challenges from the global economic system
There is a general worry that slow growth in US and Europe will cause problem to Asia, and especially to China being the largest manufacturer in the world. This could lead to unemployment and unrest.
Think again. Why are we having an economic system where people have to work long hours, just to earn enough money to survive, and along the way, other people have to be unemployed? And we need to keep growing faster, so that they is enough work for people to work long hours just to be employed?
The simple answer is "the majority of people have to work long hours, as slaves, just to earn enough to get by, so that the 1% can be super rich. The worst countries are those with the largest disparity of income between the top 1% and the bottom 99%. Sad to say, Singapore fared among the worst in the world in this measure. This is why we have one of the lowest birth rate in the world and a high level of unhappiness among the people".
What is the solution? Minimum wage (to make sure that people can earn enough with 8 hours of work), control over immigration, better planning and allocation of resources. Singapore fared badly on all three measures, but the situation can be managed, if we pay attention to these matters now.
Think again. Why are we having an economic system where people have to work long hours, just to earn enough money to survive, and along the way, other people have to be unemployed? And we need to keep growing faster, so that they is enough work for people to work long hours just to be employed?
The simple answer is "the majority of people have to work long hours, as slaves, just to earn enough to get by, so that the 1% can be super rich. The worst countries are those with the largest disparity of income between the top 1% and the bottom 99%. Sad to say, Singapore fared among the worst in the world in this measure. This is why we have one of the lowest birth rate in the world and a high level of unhappiness among the people".
What is the solution? Minimum wage (to make sure that people can earn enough with 8 hours of work), control over immigration, better planning and allocation of resources. Singapore fared badly on all three measures, but the situation can be managed, if we pay attention to these matters now.
Be educated on financial matters
Hi Mr. Tan,
Its been a pleasure reading your blog this evening. I've been looking for some investment advice and found your explanation on dual currency investment, which I've admire its simplicity and transparency.
I've got some extra cash in US dollar 50K which are kept in a bank for several year with low yield. With the rate of the inflation nowadays, I feel that that value is depreciating and I'd like to invest on some banking products or instruments which will provide good yield with a medium risk to cover the inflation within 3-5 yrs.
Will you be able to advice me and pretend if its you're money. What will you do? What will be the best option of investment right now in Singapore and amidst this EU crisis?
REPLY
Read this
http://tankinlian.com/Redirect.aspx?PK=6e81acf4a41c102e93b20d62c2a6f8e8
Its been a pleasure reading your blog this evening. I've been looking for some investment advice and found your explanation on dual currency investment, which I've admire its simplicity and transparency.
I've got some extra cash in US dollar 50K which are kept in a bank for several year with low yield. With the rate of the inflation nowadays, I feel that that value is depreciating and I'd like to invest on some banking products or instruments which will provide good yield with a medium risk to cover the inflation within 3-5 yrs.
Will you be able to advice me and pretend if its you're money. What will you do? What will be the best option of investment right now in Singapore and amidst this EU crisis?
REPLY
Read this
http://tankinlian.com/Redirect.aspx?PK=6e81acf4a41c102e93b20d62c2a6f8e8
Lack of consideration for the public
30 years ago, an immigration form was the only way to track and monitor the movement of people into and out of a country. There were fewer people travelling in those days. The traveler does not mind filling up the card - as it was the only inconvenience that they have to go through.
Travelling is different today. The traveler has to complete another form - for customer declaration. There is also security check several times before boarding the plane and after arrival. Laptops and metals have to be removed from the bags and put back. The passport and board pass have to be shown a few times during the journey.
While new requirements and hassles are added, the officials forget to remove the old requirements, that are not needed any more. The passports are now scanned electronically, and make the immigration card unnecessary. I believe that millions of cards are collected each year, but are not being used. But nobody cares.
Recently, I collected the immigration card that is being given to non-residents arriving into Singapore. The card is the same as many cards that I have to fill in when I visit other countries. Although Singapore is a more advanced country in the use of technology, and has spent tens of millions on technology, we are still implementing the backward and wasteful requirements on other people.
Travelling is different today. The traveler has to complete another form - for customer declaration. There is also security check several times before boarding the plane and after arrival. Laptops and metals have to be removed from the bags and put back. The passport and board pass have to be shown a few times during the journey.
While new requirements and hassles are added, the officials forget to remove the old requirements, that are not needed any more. The passports are now scanned electronically, and make the immigration card unnecessary. I believe that millions of cards are collected each year, but are not being used. But nobody cares.
Recently, I collected the immigration card that is being given to non-residents arriving into Singapore. The card is the same as many cards that I have to fill in when I visit other countries. Although Singapore is a more advanced country in the use of technology, and has spent tens of millions on technology, we are still implementing the backward and wasteful requirements on other people.
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