Latest Posts By pharoah88
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| 11-May-2010 17:38 |
COSCO SHP SG
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CoscoCorp
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Tuesday: 11 MAY 2010 CLOSING LAST lOw S$1.48 neXt suppOrt S$1.44
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| 11-May-2010 17:32 |
Genting Sing
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GenSp starts to move up again
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tOday Genting SP has dOne wEll cOmpare tO : GOLDEN AGRI SINGTEL COSCO NOBLE Z-Obee YZJ |
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| 11-May-2010 17:25 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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HOUSE OF CRACKS SAGE WISDOM
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| 11-May-2010 16:50 |
Others
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will my STI 2400 really comes?
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wIth tOday's gOvernamcE mEss EvErythIng Is pOssIblE |
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| 11-May-2010 16:37 |
CapitaLand
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Capitaland
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it would be NiCE and CLEAR if we can sEE the CHART. Thanks
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| 11-May-2010 16:26 |
Keppel Land
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Kepland
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nOt at the Best Price, i sOld all with gOOd prOfit at previous S$3.65 CD [did not get the dividend] and missed the PRICE SPIKE to above S$3.80. Waiting tO buy back last week but it was nOt lOw enOugh. Still Waiting tO bUy back
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| 11-May-2010 16:18 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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HOLD ONTO YOUR HORSES ALL WiLL bE FiNE
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| 11-May-2010 16:08 |
Baker Technology
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It's time to rebound ????
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this is an equivalent of a "SCAM" ? How Old is SGX ? SGX should make a Clalrification Statement IMMEDIATELY at the first time it received an Official announcement in writing from BAKER TECH or YZJ or SCM, when SGX knew that the announcement was invalid according to Singapore's regulations. In fact, BAKER TECH and YZJ could have consulted SGX directly or via their lawyers. BLOODY JOKE |
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| 11-May-2010 15:51 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Market Maker Trap. Swings Up Swings dOwn. Create Transactions. |
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| 11-May-2010 11:16 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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AN ECONOMIC ROLE MODEL Three, the Future could be Bright. While easy for us foreigners to say, many South Korea observers argue that the economy’s collapse left it better off. It shook things up like nothing else could have, forcing a restructuring of industry and the government’s role [government was CINE ?] in it. Greece needs a similar overhaul. Make no mistake, Europe’s debt crisis is going global. As investors such as Loomis Sayles and Co’s Dan Fuss and Pacific Investment Management’s Mohamed El-Erian astutely point out, it’s merely the first wave of worries that governments borrowed too much to revive economies. Markets are now plunging. To many, South Korea [G8 ?] is a developing economy, a label that no longer fits in my opinion. Its challenges have far more in common with Japan than China. It still needs to create a more flexible labour market, improve corporate governance and move further up the value chain away from manufacturing. It was hit hard by the chaos in global markets. The stock market plunged 41 per cent in 2008. South Korea is getting there, though. Not as fast as some investors would like, but economic change is afoot. We live in a world devoid of obvious economic role models. The United States used to be one. Officials in Asia, Latin America and Africa once looked to the euro as something to aspire to. Not so much any more. It’s time to begin looking at less obvious examples. South Korea, for all its problems, is as good a place as any to start. Bloomberg The writer is a Bloomberg News columnist.
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| 11-May-2010 11:07 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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THE EUROPEAN MONETARY FUND Two, bite the bullet sooner, not later. Even after last week’s €110-billion ($196-billion) bailout, there’s a good chance Greece’s debt woes will still be on an unsustainable trajectory. It will probably have to restructure debt because the strains placed on the economy will be too great. It’s better to get it over and done with. “If you restructure now, markets won’t spend every moment of the next two or three years wondering when the inevitable will happen,” says Mr Barry Eichengreen, economics professor at the University of California, Berkeley. “Just do it.” After South Korea received a US$57-billion ($78.5 billion) bailout from the International Monetary Fund, little time was wasted. Weak companies were allowed to fail. Several banks were closed and employees were fired. The government was transparent about its debts and reduced them. There’s much griping about how the terms of Greece’s IMF package are far less stringent [dOuble Standards ?] than those forced on South Korea, Indonesia and Thailand. I got an earful about it on a recent trip to Seoul. Mr Eisuke Sakakibara, Japan’s former top currency official, says the institution should change its name to “European Monetary Fund”. The IMF learned lots from its mis-steps in Asia. Yet is Europe being well-served by easy bailout terms? Probably not. Nor will it help the IMF’s credibility to become an automated teller machine for Europe’s worst debtors. Greece’s population would clearly disagree. There, opinion polls suggest the nation is now the subject of unprecedented shock therapy. That suggestion engenders giggles among Korean officials, who know a thing or two about radical change. The Confucian ethics of personal and governmental responsibility have served South Korea well. |
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| 11-May-2010 10:59 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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TIGHTEN YOUR BELT One, sacrifice is inevitable. Okay, so a South Korea-like gold drive in Greece is a reach, nor would such a gesture on the part of its 10 million people be enough. South Korea was extraordinarily adept at encouraging its population to share the burden of its debt crisis. A similar [Government must reduce pay ?] tighten-your-belt campaign is needed in Greece and elsewhere in the euro area. Europe’s debt woes are too monumental to think a few bailouts will do the trick. Higher taxes are needed, and in Greece’s case, more aggressive tax collection is required. South Korea attacked tax dodgers [SUPER RiCH PEOPLE ?] by encouraging consumers to use credit cards for most purchases. Cash transactions were too easy to hide from authorities. There was a dark side. For a time in the mid-2000s, South Korean consumers got in over their heads in debt. There were concerns that the nation’s troubles had merely been shifted from companies to households. The risks were identified early enough, though, and the problem was addressed. |
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| 11-May-2010 10:50 |
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STI to cross 3000 boosted by long-term investors
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* sOuth kOrea gOOd gOvernment * G One of the most moving things I’ve ever witnessed was the gold donations in Seoul in 1998. The “Collect Gold for the Love of Korea” campaign had millions voluntarily turning over the family jewels to the government to help the economy. Rarely has modern history seen such a powerful grassroots effort to pull out of a crisis. South Korea did just that, faster than its peers in Asia. Its economic growth rate is 7.8 per cent. The country has its problems, not least of which is the need to raise interest rates to avoid asset bubbles. A handful of huge family-owned conglomerates tower over the economy and stifle entrepreneurship. The nation is too reliant on exports at a time when competing with China is a losing strategy. The deadly protests in Athens suggest Greece has some lessons to learn from South Korea. Here are three of them. reeks wondering how to get out of this nightmare could do worse than look to South Korea.
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| 11-May-2010 10:45 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Greece’s bailout fails the test of Confucian ethics
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| 11-May-2010 10:34 |
Others
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DOW & STI
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INCUBATION PERIOD There is no question we live in an interconnected world. Sub-prime mortgage defaults by homeowners in Irvine, California, infected banks in Europe and Asia, thanks to the miracle of securitisation. So yes, European banks that hold Greek debt are vulnerable to losses. The inter-bank lending market is showing signs of stress. And the austerity measures required in Europe’s peripheral countries may spill over into reduced US exports. That’s not the kind of contagion we keep hearing about. On the other hand, it would be a mistake to interpret the flight-to-quality into US Treasuries last week as a sign of immunity. The US is already infected with the debt virus. It’s still in its incubation period. Bloomberg The writer is the author of Just What I Said and a Bloomberg News columnist.
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| 11-May-2010 10:30 |
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WAKE-UP CALL That said, European leaders have invested too much political capital in a united Europe to turn back now. Germany’s Parliament approved a package of loans to Greece on Friday, part of a €110-billion ($198-billion) package from the International Monetary Fund and European Union. Greece approved an austerity plan in exchange for the bailout. “This should be a wake-up call to design mechanisms to deal with crises and enforce the rules” on debt and deficits, Professor Bordo says. The 1992 Maastricht Treaty outlined four convergence criteria for joining the European Monetary Union, including a maximum deficit-to-GDP ratio of 3 per cent and debt-to-GDP of 60 per cent. Last year, Greece’s deficit and debt were 13.6 per cent and 115 per cent, respectively, as a share of the economy. All of the infected countries, and a few that haven’t caught the disease yet, are well in excess of those limits. The United Kingdom, for instance, which is benefiting from capital flight out of Europe’s Club Med countries, ran a deficit last year that was 11.5 per cent of GDP. Investors may flee the UK at some point, but it won’t be because it caught anything from Greece. |
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| 11-May-2010 10:24 |
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FISCAL TRANSFERS Europe has neither. Political union is still a dream. Germans are still Germans, and Greeks are still Greeks. The man on the street in Dusseldorf probably doesn’t understand why the German government has to fork over what could be his pension to a country for whom default is a way of life. Political union isn’t a pre-requisite for dealing with a sovereign debt crisis. What’s needed is some kind of a priori agreement on how fiscal transfers are to be carried out, says Mr William White, chairman of the Economic Development and Review Committee at the Organisation for Economic Cooperation and Development. In the case of the euro zone, “they were short of a few fiscal elements”, he says. It’s far from clear the German public would have supported such transfers from strong to weak countries, Mr White says. Especially if it’s the same profligate nations, such as Greece, that keep feeding at the trough. |
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| 11-May-2010 10:21 |
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CHRONIC DEFAULTER Okay, maybe not quite as leaky a boat. It would be hard to match Greece’s record of spending half the years since its independence in 1829 in default or rescheduling its debt, according to economists Carmen Reinhart and Ken Rogoff, authors of A single currency, it turns out, isn’t a panacea for everything that ails Europe. The 11 nations that scrapped their sovereign currencies and adopted the euro in 1999 never constituted an optimum currency area as envisioned by economist and Nobel Laureate Robert Mundell, the father of the euro. “They don’t have a mechanism to deal with crises when they come up,” says Mr Michael Bordo, professor of economics at Rutgers University and author of a book on the history of monetary unions. Europeans knew if they ceded domestic monetary policy to a centralised European Central Bank, they would need “labour mobility and/or transfers from healthy states to weaker ones to deal with asymmetric shocks”, he says. This Time is Different. |
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| 11-May-2010 10:17 |
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G Contagion, or contagion theory, is sweeping the euro zone, where Greece’s debt crisis is infecting neighbouring countries and threatening to make its way across the Atlantic to the shores of the United States. At least that’s what we’re told on a daily basis. European Central Bank council member Axel Weber warned last week of “grave contagion effects” for countries that have adopted the euro. “Greece fuels fears of contagion in the US,” trumpeted the I hate to pour cold water on that theory, but healthy countries aren’t susceptible to Greece’s disease. The sick ones, already plagued with high debt levels and bloated state budgets, don’t need a carrier. Capital flight from these countries “is not evidence of contagion”, said economist and author Anna Schwartz. Of course, Ms Schwartz said that in 1998 following the Asian financial crisis. In Ms Schwartz’s insights are equally valid today. Capital isn’t fleeing sovereign debt markets in Spain and Portugal because Greece can’t pay its bills. Bond yields are rising because of an increased risk those countries may find themselves in the same boat as Greece — unable to meet their debt obligations. reece sneezes and Portugal catches a cold. Portugal coughs and Spain falls ill. Spain runs a fever and Italy comes down with the flu.Wall Street Journal.International Financial Crises: Myths and Realities, Ms Schwartz punctured the notion that financial crises spread from the initial source to innocent victims. Nations are vulnerable because of their “homegrown economic problems”, she said.
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| 11-May-2010 10:14 |
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Myth of Greek contagion masks real crisis Caroline Baum |
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