What Is 'New Normal'

The World is undergoing a change and CHANGE is the only norm...its never 'new normal'

"New Normal" :

- low growth coupled with increasing rate of unemployment

- confluence of power play by who's who in the developed economies which have imploded under the weight of financial engineering and an indifference to moral rules

- living with pay cuts; either having to work longer hours with the same pay or taking a lower pay instead of being laidoff

- where the middle class have to shop at discount stores, cut discount coupons, dines on hotdogs and beans and to rent rather than buy/own a roof over his/her heads

- high unemployment, credit contraction and budget/spending cuts

- jobs disappeared in M&As, collapsed corporates, job enlargement rather than job enrichment is the norm

- getting married to a tech geek (or both) who spends most time of his time facing the PCs or both talk to each other only through SMSes, emails, tweets, etc except talking to one another; even bring up an e-baby

- where the rich-poor gap is wider that the ocean and widening still; the earlier you realized that the world will never be equal, the earlier you accept reality

- where 'winner takes all' and selfish leaders promise more and deliver less; a promise will remain a promise until delivered

- suicide or ethanasia is an acceptable exit in/of life as prolonged recession leads to depression of the mind and spirit; falling self-esteem and empty promises exaggerated acceptance

In this trying period, selfishness and greed rules. Grandiose sounding phrases such as 'new normal' and 'we will work together towards prosperity' are meant to convince you that you must/should accept the state of mind, work hard, slaved selflessly and don't ask questions!

I believe its better to accept that time's challenging and take the bull by the horn; what's gone may not return and change your course of actions to craft a new destiny. The truth is 'Change is the only constant'

Nobody can promise you a better tomorrow; 2011 is, and shall be, a year of CHANGES
 Whatever 'new normal' means it meant 'CHANGE'...

It's a Make-Belief World

The Clock Is Ticking...


Baltic Dry Index at 2069 points(the index tracks worldwide international shipping prices of various dry bulk cargoes and provides "an assessment of the price of moving the major raw materials by sea") is almost half of its peak a year ago and a mere shadow of its peak circa 2008 at 12,000 points.
Its a clear sign that demand for commodities have eased, and probably too. prices have peaked and declining.
Commodities prices move on fears (fear of shortage lead to price rise) while stockmarket prices move on hope (hope that things and events turned better).


Britain's jobless hits 2.5million and Spain is showing signs of strains from the ill effects of her spendthrift days, aside from Portugal, Italy, Greece, Ireland, Iceland... seems like the beggars' queue is growing fast and furious. Even in bustling China, urban and graduate unemployment is fast becoming a social time-bomb.


Nations have spent tomorrow's money yesterday.


USA is still reeling from the excesses of financial imprudence and the motto "spending your way out of poverty" is not dissimilar with 'borrowed time and borrowed money". If you print enough (paper) money to fill the gaps left by a financial earthquake, the real value of money declines. Why is US$ reasonably steady despite printing of more money. Confidence? It is US sheer military might and dominance thats providing confidence in the country, by extension US$.


Globalisation has deepens the World's interdependency and forced nations to unite, not by choice but to survive. Like banks, each is as confident as the other if they mutually underwrites each others' debts; hold tight! When the music stops, someone's gonna be hurt!


The rich nations have imploded. The poorer nations seem richer as the richer nations hollow out. This is not a symptom of growth but backsliding and contraction economically. While China and India (Asia as a whole) economies did improve but pockets of poverty still prevail and the North-South gap is everwidening.


Capitalism is greased by money and if real money are scarce, how will capitalism, by extension capital markets survive, prosper? Banana currencies will lead to inflation.


If cash is King; Real (value) money is the Ruler.


Whichever ideology you subscribe, nations, henceforth economies, cannot grow if unemployment is rife, banks are sick and political will are lacking; tough talks never see recovery, its tough actions. Recent Tea Party shows pop culture and wild promises winning the day.


When demand slows, prices falls, demand for capital goods fall too. Multiplier decline and without a cut in the ability to spend, the economy contracts further. There is no magic. If the house is crumbling, its better if it collapse fast. Restoration and reparation pave the way for recovery.


Politicians over-promised and under-deliver. Electorates love handouts and demand immediate reliefs. Everyone wants something on the cheap but someone has to deliver. Tea party is a 'horay' trip with shallow promises.


The world economies will likely (have to) tank and bring cost lower (deflationary) and make living more affordable. The current pump priming will not cure the ills of capitalism; its prolonging the suffering.


In the meantime, social unrests will surface (already happening in some Western countries), factors of production will be more efficiently and equitably distributed, and hopefully, cost of living lowered.


Booms & Bust are norms of/in life; cyclical changes affect everyone and you are not alone. In between the darkness of changes, there are silver linings.


Be healthy, happy and seek inner peace whilst the World undergo major changes not unlike the 'depression'. . its the degree of downturn, not if... or ... will it happen.


I am not a doomsayer but when bubbles burst, haemorrhage follows. Be there when good days are back.

In this make belief world, words are cheap and winners take all; fools aplenty.

Will I be a stranger in my own country?

I read mainstream newspapers, magazines, temasekreview, transitioning.org and others, both local and international.

The oft repeated topics recently, apart from i) rising property/HDB prices and ii) rising cost of living is iii) "Unemployment among graduate Singaporeans and/or Singaporeans between ages 35-45/above; Worst still it has been often said that foreigners were given the jobs instead of Singaporeans".

How true is (iii)? 

Can the relevant Authorities and/or Ministry(s) confirm (if true and what is being done to address and lessen the anxieties among Singaporeans) or deny ( if untrue with proofs). 

If Singaporeans cannot find jobs now (35 years and above), the issue of working into 70s or re-employment of seniors in the workforce is no more relevant. 

Another pressing issue I heard is (hope its not true) the employment of the younger workforce on contracts basis. 

Fresh graduates or those with some years of working exposure who are on short term employment contracts will find little or no commitment and drive if they are unsure whether they will be continuously employed thereafter, not to mention promotional possibilities.

Besides, companies (the seniors especially) employing them will be less incline to teach or arm them with relevant skills and knowledge as they too are unsure if the 'temp' staff will remain after the contract. It is a loss-loss game. We stand to loss a generation of youths if they feel uncertain about their future. "Why work so hard if I am only a contract worker and I may not belong here?" 

 

Worst still if 'foreigners-helmed' HRs/Heads may have a tendency to hire most/one of theirs, ceteris paribus. I do not fault them as humans chose to work among their own (countrymen/culture)

I dread the day when my children and their peers are floating digits of the temporary or unemployed data. 

Singaporeans, young and old, are hardworking and full of drive and are comparable, if not better, than many of their foreign peers. But, if they are being replaced by cheaper foreigners (you can find many who are willing and able as the world has 6.9billion people), simply because someone is willing to work longer hours for the same pay or take a lower pay for the same hours worked, then social issues and conflicts will surface sooner rather than later. 

Who will STAND UP for Singapore? If for every 3 Singaporeans, there are 2 foreigners, life is tough. But, if for every 2 true blue, born and breed Singaporeans, there is 1 PR and 2 foreigners, we are in trouble.

Let us keep Singapore for Singaporeans. All foreigners are welcome but not at the expense of Singaporeans. 

I hope I am not screaming in the wilderness. 

The Lighter Side Of Life

Tongue In Cheek...


Whats wrong with WikiLeaks? Telling the truth as plainly as it was when spoken - truth hurts

Why are there unemployment, underemployment or simply 'no' jobs? Statistics never lie neither does it tells the truth - happy searching

Why are there so many disconnected teens joining street gangs? They wanted to feel 'belonged' and be recognised - wise up

Why do some people commit suicides? If you can't solve your problems, exit and pass on to others - least sought solution

Why is it the Hong Kong MTR can run at lesser (time) intervals than Singapore MRT? The former caters to travelers demands while the latter demands travelers to take it or leave it  "People can board the trains – it is whether they choose to" - SMRT CEO Saw Phaik Hwa - monopolist/oligopolist speaks loudest

There are plentiful of 'growth' in US and Europe - their debts keep growing - its about grammar

Why is it the West's debts grown so fast while the East is still 'far behind'? The Chinese characters (words中文字) have yet to coined words like billions十亿, trillion千亿, quadzillion?, zillion?? .. simply no words to describe numbers that are too big - words that heavy but of no value

Why is income gap widening? Newer buildings are taller, bridges are longer, baby grows bigger - its the natural order of progress

When will the World or mankind ever be equal? Never - mathematically possible, practically impossible

More Regulations do not necessarily mean a better world but it certainly stifle creativity, entrepreneurship and 'thinkability' - ideas originate naturally

Will the world end? This question requires no answer - if it ends, we will meet again in the 'other world'

...alittle laugh lightens up the Soul

Stockmarket ++CrossRoad++

Where is the market heading...

In the final days of September, I penned "The Pains & Fun Of Stockmarket" amongst which read '... Lightening up seems an ideal choice (on the upswing) ... Cyclically, quarterly low is expected in October.' Guess, we have seen it all!

A flip through of some major markets/ charts and most show we are at the crossroads including possible 'Head & Shoulders pattern', 'a small Wave C or a Wave 3'...  an impending downside-bias? ?

What's keeping the markets up?
Hot money and self-denial; or what I call the "Hope Syndrome".
Profit in hand is worth zillion$ in the market; I am bopeful but I rather be safe

What you find under the stars...

In year 2000, there were 6.1bil people in the World; now its 6.9bil - demand, multiplier and growth?
There are three times more billionaires today than there were 10 years ago - the newfound rich and the rich gets richer
Similarly, there are more under-nourished, more unemployed, more poverty sprinkled around the Gobe - the poor gets poorer, the struggling class

The World will never be equal


When the financial crisis hit the West, as in most 'club deals', saved were those who belong to the 'club'
The big institutions borrow to pay fellow lenders who underwrite their fresh loans; by extension debts were used as collaterals; and the music continues... 


General Motors (GM) rose from the dead, AIA was rescuscitated and Citibank limped back to recovery; Freddie Mac & Fannie Mae melted into oblivion

USA prints enough money to fill gaps left behind by the financial earthquake - if money can solve problems, its no longer a problem! 

U.S. NATIONAL DEBT CLOCK - shows The Outstanding Public Debt as of 01 Dec 2010 at 02:49:23 AM GMT is: US$13,795,262,233,519.30 


China's reserves hits 3 trillion; Japan's reserves passed 1 trillion
China is fighting inflation whereas Japan is struggling in deflation
Singapore's growth of 15% will taper down to 5% next year

If printing money can steer the World out of depression, the term 'banana' currency would not have been conceived
The value of money is not in the number of zeroes after One; its the confidence and its purchasing power - read the following - 100 trillion Zimbabwean dollar banknote (10¹⁴ dollars), equal to 10²⁷ pre-2006 dollars


If you are deep in the plus/profit, take some, if not all
If you are in the red and living with borrowed money, be forewarned and be prepared

China is a developing nation, poor by per capita but rich in absolute dollars
US is a developed nation, rich by per capita but living on borrowed dollars

If Wall Street is the lighthouse of Capitalism, by extension equity markets
The tides have changed


When you make your fortune, I be glad to have a free beer...
And kindly donate to the less fortunate...and I am one

My Perfect World

Perfection is personal...


Everything we set out to achieve does not have a singular outcome; the satisfactory result is achieved if it falls within the range
like... the best sprinter seeks to achieve first place, if possible breaks record
like... the Michelin (chef) Master achieving recognition for being the best in culinary skills in say, French, Italian or Chinese food; seldom recognized as the best in any/every type of cooking
like... an economic growth of 16% and a growth rate of 5% is still a growth 


We must do our best and be the best but not necessarily perfect; perfection is, like an ideal, a moving target
if... everyone has a perfect look, cosmetic surgeons will be in the annals like the dodo 
if... there is one acceptably perfect GOD, there wouldn't be/have many religions
if... there is a perfect country, we needn't still think of Utopia 


There is no monopoly of knowledge nor solutions
as... the rich will not understand what hunger is
as... the elite cannot accept why others are 'mediocre'
as... seemingly brilliant people turned terrorists in the name of a certain Beliefs


“To understand that hardship is a matter of fate and success is a matter of the times; and to able to face enormous difficulties without fear or terror is to have the courage of a sage.” 知穷之有命，知通之有时，临大难而不惧者，圣人之勇也。Confucious
... everyone is given a chance to succeed, within his abilities and capabilities, but few know nor grab when opportunity knocks
... some succeeded but succumbed to greed, emphathy or plain arrogance
... only in fairy tales do we find perfectly happy ending 
 ...everyone needs some space in this crowded Earth

We are walking on the sands of time and nothing will be remembered as we passed and time passes
Do whatever you want, within your abilities and capabilities, and achieve fame and glory
Your little empire and ivory tower is yours to built and keep


Blaming others for your misfortune or setback is not a solution
If you can't dictate changes, be the change agent

Make your decision to change for the better NOW or tomorrow will be the same or worse as you resist the change agents dwelling inside you

If you don't give yourself a chance, NO one will
... forever you will be humbled, thumbed-down and enslaved



What is graffiti to some, is arts to others; fashion, like arts, is personal

If We Do Not Help Ourselves FIRST Who Will (Help Us)?

The Best In Life Is Yours To Keep...

You smash things up when you are angry
You hurt yourself when you are depressed
You blame the whole world except yourself when things go wrong
Your negative power empowers you to self-destruct

If you had positively rein in on your 'misfortune' with ZENness and level mindedness, you reap the Goodness of Being and turn self destruction into growth; like a Lotus


Rest if you must but never quit
Just as the car needs refueling and the radiator needs water/coolant
It is not weakness to slow down nor stop; its a recharging process




There are TWO types of problems;
i) You have too much of a good thing and you don't know what to do except Indulge
ii) You are flooded with problems upon problems and you don't know what to do and your mind is filled ... with the problems, Not solutions
Fret NOT; both will pass over time .... good or bad




Better stop your journey than to reach a destination least desired...




There is no point in complaining that others are taking advantage of you as if you do not allow it to happen, it can never happen




You may be born rich but nobody is born poor as the fool and his money will soon part
Everyone arrives with nothing, naked and a scream
Fortune smiles at the eager, earnest, willing, able and capable person




You blame the system for belittling you, milking you, making your life miserable, downtrodden and self-serving
Yet, you oblige and opt not to change
The earlier your realize that the fault is in You and not the system, the earlier you salvage your destiny


We cannot change others


We can only change ourselves






I color my own life...the rainbow in the Buddhisattva 
   

My World

Birds of a feather flock together...

Eagles fly and hunt alone and they are deadly accurate when zooming in on their target... the prey has no chance - you can hide but you cannot run
Eagles roam the horizon with commanding views, keen eyesight, razor-like powerful talons; ready for the kill

The Elites rule and seek comfort, companionship and progress in the protected circles of "Who's who"; in their ivory tower, high and almighty, they detest any slights and complains... my word is your command, you can neither hide nor run
Mine is a world where heaven takes place on earth 

Geese fly in V-formation to conserve energy and ease communication
To fly long distances, the birds take turns being in the front, falling back when they get tired
They are non-hunters, they are hunted

The compatriots and comrades ensure the food-chain is smooth runnning and iron out the kinks
Not of scholar grade, with a heart for all but not sundry, with an ambition built on dreams, hopeful, thoughtful, driven, full of fire and ideas but also 'down to earth'
Helping to even out the unequal chain and make living lighter, smarter and smoother 
Mine is a world filled with hopes

Domesticated, ducks and chickens, birds are food on the platter

At the bottom of the food chain, its 'damn you do, damn you don't'... every day alive is a day earned
The tomorrows are poetic, the future is bland
Mine is a make-believe world

Me?
I am none of the above; I like my fairy tale world
I am the ugly duckling and, one day, I shall be the graceful SWAN


I dare to dream and I make my dreams come true... if not now, tomorrow... I am a daydreamer

Professionals, Managers, Executives, and Technicians (PMETs)

Quote: "Some say PMET has become the catch-all term to describe the "middle class" of Singapore workers". I suppose PMETs refers to those who are tertiary educated with, say a Poly diploma or a Uni degree.

In the days of Singapore U (SU) and Nanyang U (NU), many NU students opted to start their own businesses as their starting pay were generally lower than SU graduates and promotions opportunities favoured SU graduates.

Another group that was more entrepreneurial were the Poly graduates.

Looking at Singapore's economic dynamics, early efforts were made to provide jobs for the polulation in general in the 60s/70s (low skills, labour intensive). By the 80s/90s, the Unis were churning out graduates to run and manage MNCs, manufacturing outfits and larger local companies (management skills, higher value-added industries) - a generation of managers were moulded and produced.

By late 90s and the turn of the century, Singapore was faced with competition from cheaper and massive labour supply from neighbouring countries including India and China. Coupled with this, globalisation and WTO-centric agreements, make factors of production, namely labour, more mobile and fluid.

Our generation of PMETs has learned to accept monthly wages as a norm and few ventured entrepreneurialy as the comfort of being managers overwhelmed the need to take risks and chances to run their own businesses.

The economic fibres meshed over the years was a comfortable monthly salary; sufficient to pay for a home, a car, two kids, a maid, holidays at year end, a family of four - luckier were those with dual income if both spouses work.

With globalisation and the fluidity of labour (force) flow and the relocating of manufacturing industries overseas to lower cost centres, PMETs were suddenly slap with the reality of job losses. Years of experiences and loyalty was not enough to forestall replacement by cheaper, younger and faster workers as the same job can be done cheaper and learnt faster. PMETs simply did not have a fighting chance against the younger, faster and cheaper replacements.

Apart from this, the mega mergers of industries also decimate jobs. A page back in time reminisced Singapore with ten banks but with megers, we have only three large ones; there used to be about thirty stockbroking companies, now we have under ten.

Besides, the younger are willing to work longer working hours for the same pay, especially if they are foreigners. Not that Singaporeans are any less hard working but if they are foreigners working here, chances are they have lesser friends and relatives around to demand their attention. Work, work and more work also means more (overtime) pay.

The years of comfort and sheltered environment evaporates into thin air - the reality is that if you are 35-45 years old, or older, and if you loss your job, the chances of you finding a same, or fairly similar, job with same salary is almost zero.

Even if you are willing to retrain, upgrade or seek newer and relevant skills, the chances of you finding employment with the same pay is also almost zero. Age is a tall obstacle but not fatal! The permutation of solution is not linear. Think out of the box - challenging times need challenging solutions.

So what can PMETs do? PMETs supposedly consisted of people who are tertiary educated; have they lost all the 'grey matter' above their shoulders and between their ears? I know of afew solutions but lets start with you - solutions lie with the problems. If nobody is willing to come forward with a solution, or is waiting for the next person to suggest, then its a checkmate and PMETs will fade into history as managers of a past era.

Come on, wake up - God help those who help themselves. Even God wants the solutions to start from you. Get organised, get together, find the solution. However difficult and chaotic a/the generation is going through, a leader is born to lead; you could be the one.

In the article, circa August 2010, by Spring Singapore, encouraging PMETs to take up Entrepreneurship Training "Professionals, Managers, Executives and Technicians (PMETs) have been the hardest hit in the downturn, forming some 40% of total retrenchment between January and March last year". If there are 30,000 unemployed PMETs and each contribute one possibility (solution), you will have 30,000!

I write to motivate and encourage all to see the 'light at the end of the tunnel' and to stop the blame game. More importantly, look on the positive side of life and give yourself a chance to start; if not from where you last stopped, then a new start. 

Choice Or No Choice

I Want To Be Free...

Dreams are like rainbows; see it, feel it, enjoy it but you can never have it the way it was dreamt... that does not prevent nor stop us from dreaming
I have seen double rainbows
I have tried continuing dreaming when the dream was sweet, rewarding and consuming
But, like the rainbows, I can never chase, continue nor capture it with my awakening

Fantasy, pretension, illusion... like dreams are temporary reprieve for our soiled and toiled Soul
Its the inner self that need escape... Indulge and enjoy a lightness feeling
 
Fear not that you look weak when you break away from your routine
Its the smart and the bluffs that win the race; ask the hyenas
 
The Vietnamese sent the French and the Americans packing
The Afgans sent the British and Russians home while the Americans are still looking for a face-saving way out, if no victory is in sight
 
Table tennis is the only game where the Chinese are playing against fellow Chinese donning different flags; its a choice
"You can't make someone else's choices. You shouldn't let someone else make yours." - General Colin Powell


Set yourself free
Free from bondage and others' expectations
 
Move swiftly and flow like a fire dancing in the breeze
Do not trade the freedom that you are born with for the material wealth which comes with a price;
...And where thou now exact'st the penalty... a pound of this poor merchant's flesh - Merchant of Venice
 
Make the right choice
To be healthy, happy and free from bondage
 
Lord over your choices...or you will be slave unto yourself 
There is a price for everything but I am priceless
 
The Lightness Of Being

Winning Or Losing 道

It Starts With The Mind ...

When the Japanese soldiers marched into Nanjing in WWII, the Chinese soldiers surrendered inspite of  superiority in numbers?

How, and Why, did the 33 Chilean miners kept their spirits alive, alert and sane for 69days, half-a-mile beneath the surface?

If Genghis Khan and Napoleon Bonaparte were born in the same generation, both shall reign? Or will both reign?

Mind and attitude win the day
 
He who conquers others is strong; He who conquers himself is mighty. . . Lao Tzu

It is no coincidence that when someone succeeds beyond imagination; his beliefs and perseverance out-lived & out-shone himself

The Way of Life (Dao - 道) is formless

 Live healthily, happily and wholesomely before the last breathe
Live with the knowledge that life & death is destined and ALL else is a 'Choice'
Look around you, and asked "why everyone around you seem to be in a hurry?"

If you are at the top, the next choice is down
If you are already the best, you can't better your 'best'

Fill your bowl to the brim and it will spill. Keep sharpening your knife and it will blunt... Lao Tzu 


The modern day pressures come from trying to be perfect
Perfection is an abstract which fools chase
The smart treats perfection as a flow; like ideals they change over time

Hallucinations, anxieties, frustrations, stresses... are ill-effects of being perfectly perfect
The Dao 道 of Perfection is a flow

Winning or losing is a subset of the flow - 孔明借东风
What goes around comes around
Fret not...


From the flow comes the flow - as formless as always