e japanese govt has did it, e british govt has done it, e taiwanese govt is almost done w it.. so how is e spore govt going to do it? PM Lee says there wont be a decrease in GST and measures in boasting private consumption seems unlikely which means no shopping vouchers.. i really wonder wat kind of measures e gahmen has in mind..
personally i think e impact of decreasing GST will be rather marginal even though i wld nevertheless like it to be suspended for a yr =P cos from 7%, how far can u decrease? even if u decrease it to 3%, to me and perhaps e consumers, its just a 4% discount, not significant enough for me to go on a shopping spree.. but if its no GST, i will seriously consider getting e big tix items eg PC, mini laptop, furniture cos e cost savings in absolute terms is bigger.. one case in pt, when robinson says it will be absorbin e GST earlier this yr aka 7% discount, hordes of ppl are queuing at e cashier counter.. so this can be a feasible policy but of course e gahmen is not willing to do it cos GST is e 2nd largest revenue source for e gahmen now.. why wld e gahmen kill this golden goose even for a short period of time of 1 yr??
n i will veri much prefer the way Taiwanese gahmen is doing rather than e way i foresee e spore gahmen is going to do.. for those who is still clueless over wat e Taiwanese govt is doing, they are giving out shopping vouchers before CNY to boast up private consumption while spore gahmen alr reiterated tt its not doing to do so cos e proportion of consumption going aboard is 0.6, meaning out of every dollar that one spends, 60 cents goes to will not stay in spore and goes out to foreign producers/companies.. not surprising cos spore is heavily reliant on imports..
but lets look at it from another point of view, isnt Taiwan in e similar situation as us? no natural resources, reliant on imports, depends on electronic exports - sounds very familar right? hence wouldnt a large enough (more than 30%) proportion of consumption goes aboard too? n frankly speaking, in a globalised world today, which country wouldnt experience e abv situation? i have this feeling that even Japan n US (think of e brands that we usu use on our daily living, u will realise tt most are either Jap or US brand or at least these brands command a large mkt share) also faces a 'leakage' too! hence how strong is this argument?
also not forgetting, although 60% sounds large, lets not forget tt 40% still remains in spore!!! dun make it sound as if spore wont stand to gain at all k? besides e cost of e merchandise, other factors are also calculated/included in e final retail price eg logistic costs, rental cost, labour cost and all these aspects are usu done by spore companies!
n vouchers 'forces' ppl to spend. in this uncertain times, wat do u think is ppl's propensity to spend? im sure e MPS will be pathetic, 0.2 or 0.3 only which implies that for every extra dollar one has, one will only spend 30 cents or less. hence if e govt is thinkin of giving out cash to sporeans n hope that we spend them, im sorry but i dun think this is going to happen.. i wont be surprised if e majority of sporeans save up all of them although i will spend it, overseas =P so between issuing vouchers that can only be used in spore to a majority spending only a small portion of e extra cash/ppl using e cash to spend overseas, which is a better option for e domestic economy?
its easy to focus on one aspect n neglect e other.. i also know tt spore's C cannot make it, just 40% of GDP.. BUT its still e LARGEST component!! G is only 20%, I another 10-15% n even net X i suspect it's in e range of 25-30% only!! so shouldnt we do sth abt C?
im also not proposing e spore gahmen to only focus on C n forget e other aspect of e economy.. im also all out spore gahmen taking a leaf from e chinese govt although i dun think spore needs to pump in so much $$ like e chinese govt in developing infra cos we alr have e basic infra up n running while china still sorely lacks e necessary infra esp railways/roads.. but im not worried abt this aspect as it has been spore gahmen forte..
well, lets just wait for another 2 mths to see wats e ang bao we got..
Has been watching this show "珠光宝气" (The Gem of Life) these days.. Currently airing in HK and its now more than 1/3 thro its 82 episodes.. Captivated by its script and acting.. plus LOVEEE e fancy Lamborghini e actors drove!! *drool* e opening theme quite good too.. If you are a Hk drama fan, this is a must watch!! Got some videos to catch a glimpse of wat's going to happen later on.. (but sorry, only in canto w/o subtitles..) cant wait!
Opening theme
Preview
Interview of some of e casts
anyway may resume my weekend special when i have e time.. this time may focus on other aspect rather than just entertainment n cars.. partly also cos recently din watch dramas so not much actor/actress to go goo-goo-ga-ga over n usu drama review takes up too much time that i'll like for me.. see how ba..
just heard from my aunt that one of my cousin in law just gave birth last week.. why do they always wait till give birth le then inform us? but not surprised this time round cos e last time i went to this cousin's home i saw a couple of pregnancy books on the table so roughly guessed it..
anyway my cousin in law gave birth to a boy so this brings my num of nephew to 7 and another 2 nieces (from my immediate cousins, lost count of how many nephew/nieces i have from my distant cousins =P). somehow find that there is gender imbalance leh.. for my generation, the num of male to female is roughly 1 to 1 but for the next generation, the male far outnumber the female.. hmm..
just realise this yr is a very 'productive' yr for my extended family.. this nephew is e 3rd addition to my extended family this yr!! gahmen must be very happy, lol..
coping with bad times - citibank + US car ind + misc
just saw news saying that e US gahmen just pumped in billions to save citibank.. no wonder have been receiving email from citibank written by CEO of citibank s'pore recently
frankly speaking it came as a surprise cos i thought GIC invest billions into citibank and thought it should be all right.. then i also thougth US govt is prepared not to intervene anymore cos the rescue of the 2 mortgage co + AIG alr put a heavy strain on e govt's coffers
anyway me n my econs frens have been discussing abt e bailout issue a few mths back n we all agree that ben bernanke - chairman of fed reserve is not practicing what he teaches leh.. in his textbook which we studied in macro 1 he advocate cold turkey treatment to the failing companies but look wat's he doing right now..
but i can also empathise his position.. in e financial world, there is this term known as 'too big to fail' n being a Great Depression expert, i trust that he know what's he doing.. the main reason why great depression is lasted for 3 yrs n hence got e honour of being great is precisely cos e govt allowed bank run to occur + impose tariff on imported goods.
w bank run, it erodes the ppl's confidence and ppl will start putting money under e pillows instead of putting in banks.. then banks will lose one major n cheap source of funds aka deposits to lend out to borrowers n also to pay up ST debts.. also due to e fact that most of e banks' assets is locked up in illiquid assets, it will be tough for banks to raise cash in such a short notice.. if ppl keeps withdrawing money from banks n put under their pillows/mattress etc instead, the liquidity positon of e bank will only get worse (no cash to pay debts + no cash to lend to earn $$) and hence eventually fall.. n e trigger effect is not to be dismissed either.. banks are interdependent hence if one fails, then others are not in much better position either.. furthermore, banks are e backbone/foundation of e economy (facilitating the much needed cashflow to e rest of e economy) that's why we always say that banks are 'too big to fail'. that maybe why fed reserve is taking drastic action and going all out to save banks now..
however, e US gahmen is equally hesitant of helping out e car ind.. i know some ppl may wonder why but i back e US gahmen stand cos i personally find that e US car companies have only themselves to blame for the awakard position they are in right now. why do i say that?
just 2-3 yrs back, GM - General Motors is the num 1 car manufacturer in e whole world and is among e top 5 companies in e Forbes top 100 companies.. within this short time span, it is now on e verge of bankruptcy.. who would have believe it in e 1st place?
i feel that complacency + X inefficiency contributes to e downfall of these US car companies.. for yrs GM is e num 1 car co in US.. i dunno why but toyota, honda etc these big names of jap car din go into e US mrkt in full force since US is e largest car mrkt.. but when they did in a big way sometime in 2005/6, their cars is a big hit among US consumer cos of e cheaper price + higher fuel efficiency. but e GM etc remains nonchalant cos they claim they are not competing on e same level aka fighting among e same grp of consumers, they are targeting e families that have a higher need of bigger cars eg SUV and din bother to change e way they operate, eg improving the design outlook of their cars, reduce price to attract more orders, produce more fuel efficient cars etc.. n result? they are losing ground every yr to e jap cars as evidenced by e num 1 title being taken over by toyata in 2007.
i guess e last straw came when e oil price spiked to new heights this yr, w e petrol price hitting US$4/gallon US consumers shun cars like SUV for their high fuel consumption such that e sales for these vehicles drop dramatically and hence leads to e current crisis. e failure to change with time n innovate is what brings these companies to their knees.. n to think that they view it as a right that e govt bail them out.. maybe cos they thought they are also 'too big to fail' n have e backing of e govt so that's why they took e easy route out instead of the painful restructuring path ba
but let me say that im not a car ind expert, im merely analyse e situation from e econs point of view hence these are merely my views n i recognise that some of my opinions may be simplistic/not factual. nevertheless from e whole 'saga', it is clear that econs theory holds largely true in reality.. compeition is what get things going.. even if u r e num 1 now, so long as u dun innovate/keep abreast of e new situation/technology/trend, u shall perish.. its simply survival of e fittest.. applies to both human n companies..
all these bad news are prompting e newspaper to feature on money savings tips/ companies that do well in bad times.. like in today's article, they feature This Fashion, Pink Beauty. must agree that This Fashion is cheaper, but not tt cheap also leh.. a decent top w not too bad quality also cost ard 20+, its better w e ongoing discount but still e price doesnt look attractive.. n u also nid to dig so quite for long before u see somthing u like.. maybe Coax (a brand under This Fashion) is better but e prices are also correspondingly higher..
my faves: clothes - taiwan auction sites esp Mayuki, JJS. quality is comparable to This Fashion or even better @ cheaper prices!! plus e designs are better/more unique/not-as-boring too! but nid to join sprees to get them cos they will require overseas order to be min 15 pieces & shipping cost will be borne by buyer. but still, e prices will more often than not, below S$20
bags - Perlini, Inspired bags, Taiwan sites eg PG Mall & Bigi granted, i quite like $10 bags (loved them in uni) but ever since i started work, these bags are too causal for work purpose le so i make a switch. will at times buy branded bags to pamper myself too. one area i dun mind spending more $$ on. Visit spree communities for inspired bags - these are branded-lookalike bags that is of good quality and in e range of $40-60. w e quality at times even better than what is sold at e departmental store, i'm 2nd handing it =D if not can shop at e taiwan auction sites too, most bags going for under S$15 but w shipping at S$4 per bag perhaps u can buy when u r in taiwan instead.. hee.. though e total price can still be considered cheap.
accessories - sprees i haven been looking at accessories for quite some time le.. cos 1. i got too much accessories liao, 2. e designs ava in spore right now are more or less e same n somehow just din catch my fancy (it can also be cos i got too mani earrings/necklace until my taste become picky.. haha), 3. e price range of e nicer ones are out of my consideration (im not e kind of person that will spend $20+ on a pair of earrings) sprees, as i recently discovered, offers some unique designs below $10 (its mostly $5-7) @ decent quality too ^^
shoes - Charles n Keith, URS seems like its a challenge to find cheap n nice shoes nowadays leh.. anyone got any recommendations? but w discounts thrown in, Charles n Keith & URS offers some veri good buys
watches - $5 watches @ Bugis Village, Swatch/Guess/Fossil/Espirit/DKNY this is another area i dun mind spending more/buying branded.. got a mixture of watches, from e super cheap ones ($5 each) to Swatch/Guess but still not prepared to fork out more than $300 for one yet.. =P
skincare, cosmetics & toiletries - Red Tomato @ AMK, John Little Sales, shops @ people park hawker centre, sprees straits times mention pink beauty, but i din realli go there but visit red tomato more often.. all in all, to get bargain prices, u either need to go source or wait n i assure u that e price differences u get to save is realli worth e effort. if u are afraid e quality of parallel imported goods (i believe those goods @ people park are), u can go for john little. become their member for free n get invited to exclusive members events n enjoy more discounts!! i once bought Za skincare pdts there @ ard 40% off!! if not, do stock up when u r in jap/south korea (for brands like the face shop, Kose)!! over there its abt 30% to 40% lower than e retail price in spore. spree can be another option but dunno how much cheaper it will be if you factor in shipping cost cant comment for european/US brands cos never been to these countries so dunno how much cheaper is it over there but looking at how hot n regular sprees that are held to buy pdts from these countries (eg drugstore, bath and body works, benefit etc) are, perhaps one can consider buying thro sprees.
masks - definitely sprees, brands like Danity Design, My Beauty Dairy and Xin Ji Mei Ren are hot faves! used to like TFS masks and then realise e abv brands are much cheaper.. masks din have instant effect on me so i just treat it as regular maintainence so these masks do a pretty good job at that + it help me save lotsa $$ too! cos each mask cost between $0.90 to $1.50 as compared to TFS masks tt's going 3 for $10/12. one word of advice, do compare price even if u r shopping at sprees cos e price different organisers offer do differ too. but best is go stock up when u go Taiwan!!! I heard of someone buying 200 pieces of My Beauty Masks back from Taiwan!
perfume - shops @ Lucky plaza how does a 50% discount over retail price sounds to u? i know ppl have been saying abt fake, adding water to perfume, inferior quality (not long lasting) etc.. i also worry abt fakes so i went to stores recommended by my frens but personally feel that adding water to perfume quite impossible + e conc will get diluted n makes it more obvious to consumers that its fake so who will do it? quality wise, cos perfume is make up of chemicals n chemicals react w chemicals (eg sweat on our body) n this affects e length of time that the perfume stays.. an urban myth, i wld say
stationeries - a shop @ Fu Lu Shou Complex basement 1 prices are cheaper than Popular. know that are other stores at other locations too but this is e one i frequent cos its near to my office..
hmm, that's abt all.. i guess it can be deduced that i seldom shop in shops le.. clothes, bags, accessories, masks all done online.. dun buy stationeries cos got too mani.. only buy perfume/watches (e ex ones) ard once a yr.. so basically when i go out shopping, i either go window shopping or only looking out for shoes n skincare/toiletries.. think its tough for spore retailers to earn my $$$.. lol.. can also see that i dun buy groceries/fresh food often. its usu done by my mum but i do know snacks wise, go Sheng Siong =P cant think of any more category of things i will buy on a regular basis le..
Down Syndrome Association of Singapore (DSA) has a social enterprise, SHOP@DSA21, which is essentially a thriftshop selling donated and/or second-hand goods. Through this, young people with Down Syndrome learn working skills and gain social interaction.
They are gearing up for the Christmas sale, so they would greatly appreciate donations of items you have (in working condition).
You can drop off stuff at two venues:
Down Syndrome Association (Singapore) office Block 17A Telok Blangah Crescent, #01-270 Singapore 091017 Drop-off hours - Mondays to Fridays: 8.30am - 6pm The Shop is open two days - Monday AND Friday from 11.00am to 3.00pm
DSA at Junction 8 9 Bishan Place #06-04 Junction 8 Office Tower (not the shopping centre, but just next to it) Singapore 579837 Drop-off hours - Mondays to Fridays: 8.30am - 6pm, Saturdays 9.30am - 6pm
The DSA would like to thank you for your supporting efforts to assist people with Down Syndrome to become more independent and contributing members to society.
I'm not really sure of the words to say If only you knew that I feel this way I wanna give my heart to you Show me the way that you want me to
I know for sure there's a place for us I'm counting the days 'till I feel your touch You come to me when I dream at night When I'm with you, it will be so right
If you can see the love in my eyes You should know that I'm on your side Ooh Ooh Ooh Ooh Ooh I'll be yours, you'll be mine
Ooh... What will I do? Ooh... What will I do? Ooh... What will I do? Ooh... What will I do?
If you can see the love in my eyes You should know that I'm on your side Ooh Ooh Ooh Ooh Ooh I'll be yours, you'll be mine
Ooh... What will I do? Ooh... What will I do? Ooh... What will I do? Ooh... What will I do?
expected it, no surprise.. but must salute e US ppl.. they cast their prejudice aside n elect a black to lead e country Obama sure din have e easiest job ahead.. he will definitely need an experienced cabinet to lead the country out of its worst slowdown in decades.. will Warren Buffet be e Finance Minister? both McCain n Obama mention they will do so if they get elected.. but i guess warren buffet may not agree due to age..
i cant wait for Obama inaugaration.. never realli liked Bush all along..
realise me n my sis usu support different camps when it comes to sports.. i support Hamilton while my sis go for Kimi then 爱屋及乌 like Ferrari =P
just finish watching F1 final race via web n oh man, cant believe the turnout of e event.. its even more dramatic than a drama!! nothing out of e blue happen during much of the race.. Massa is so ahead of others that im willing to let him win e race as long as Hamilton is 5th or better.. & Hamilton is either 4th or 5th for much part of e race so i thought it will end like tt.. then drama happens when one least expect it..
just when i thought no matter how much a margin massa wins will be futile, hamilton dropped to 6th in e last few laps!! cos there is the driver Timo Glock who decides not to change his tyres amidst the rain n Vettel overtook Hamilton shortly after their 3rd stop (correct me if im wrong) and i went 'Oh no, not again!!!' seeing how desperate Hamiltion is, i started to lose hope while my sis keeps cheering Massa n Kimi on.. then when hamilton drove to e starting/finishing line, e screen actualli showed he's 5th!
me n my sis went stunned n even e commentors also couldnt believe it.. its only at e replay then we saw both Vettel n Hamilton passing Glock on e veri last lap. feel so happy for Hamilton.. aft losing out so narrowly last yr, he din get defeated n emerged stronger this yr to become champion.. my heart also went out to Massa, he is the saddest/miserable champion i saw.. haiz, life is always like tt.. there can only be one winner.. there is certainly alot of 'what ifs' - if ferrari din screw up e spore race, Massa is prob e champion le etc.. but one has to be forward looking, what's happened is alr in e past n cant be changed.. but fret not, there is always e future.. i foresee Massa comes back fighting for e next season, just like wat Hamilton did this yr! looking forward to an exciting season next yr! =) & i may support Massa le.. lol..
