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  • Watchmansg1's Avatar
    59 posts since Apr '12
    • Bad news for retailers: downtrend of sales will persist

      Analyst says Singapore will not be immune from a corresponding fall in global risk appetite.

      OCBC Investment Research said:

      With the weakening of equity markets in Apr and exacerbation of the European debt situation by Greece, we expect the downtrend of retails sales to persist as consumers continue to tighten up.

      Should a Greek exit from the Eurozone materialize, market confidence will naturally be adversely affected as the contagion effects spread to other Eurozone economies.

      Singapore will not be immune from a corresponding fall in global risk appetite and growth could come in at the low end of the official 1-3% forecast.

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    59 posts since Apr '12
    • Global debt bomb: Irish banks fall on hard times, may need a second bailout

      Posted on May 19, 2012
      May 19, 2012IRELAND - Ireland’s bailed-out banks may need as much as €4 billion more loan loss provisions than assumed in stress tests last year, which could “tip the balance in favor” of the country requiring a second aid program, Deutsche Bank said in a report today. “A new, even modest, increase in capital requirements could deter sovereign investor participation and tip the balance in favor of the sovereign requiring a second loan program,” said Deutsche Bank analysts David Lock and Jason Napier. The government’s plan to introduce new personal insolvency laws creates “risks,” even as politicians and the financial regulators seek to avoid widespread residential mortgage debt forgiveness, the bank said. “Although resilient during 2009 and 2010, mortgage arrears have risen sharply over the past year, house prices are continuing to fall, market liquidity is limited, and over half of customers are now in negative equity,” said Deutsche Bank analysts in the report. “We fear the size of negative equity balances for some mortgage holders may greatly reduce their incentive to cooperate, pushing them towards default.” –Irish Times
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    59 posts since Apr '12
    • PRC journalist: Ma Chi is a son of Ma Kai, a senior communist official in China

      Posted by temasektimes on May 18, 2012

      Ma Chi

      The dead Ferrari driver Ma Chi (马驰) responsible for causing a fatal accident in Bugis which cost the lives of two innocent victims may be a son of a senior communist official in China which may explain the ‘preferential’ treatment dished out to him by the Singapore media.
      Despite his heinous act, Ma Chi was glorified unashamedly as a ‘tall and young, rich and successful’ tycoon by the tabloids which have been harping on his immense ‘wealth’ ad nausem.
      According to one PRC journalist Cao Guoxing (曹国星), Ma Chi is a son of Ma Kai (马凯), a high-ranking Chinese official.
      Ma Kai holds the following positions in the PRC government:
      “State Councilor and State Council Secretary-General, the President of the National School of Administration, Western Region Development of the State Council Leading Group Office.” (Source: Xinhua)
      Cao initially made the stunning claim on his Chinese microblog ‘Weibo’, but the post was quickly deleted five minutes later, though not before it was circulated widely by PRC netizens elsewhere.
      In the post, Cao published three photos showing uncanny similarities in physical features between Ma Kai’s wife and Ma Chi’s mother:

      Edited by Watchmansg1 19 May `12, 4:07AM
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    59 posts since Apr '12
    • Eurozone ‘storm’: Banks nearly collapsed; Greeks withdraw €3bn in 10 days; UK makes contingency plans

      (May 17) Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank (ECB) steps up support. The euro fell to a four-month low against the dollar and global stocks dropped on Tuesday as Greece’s decision to hold new elections added to uncertainty about its future and a possible exit from the euro zone.

      In an interview with the BBC to be broadcast on Thursday, Benoît Coeuré, executive director of the ECB, said: “In the autumn of 2011 the conditions were very dangerous … European banks were facing severe difficulties to fund themselves, to access finance, and we were very close to having a collapse in the banking system in the euro area, which would have also led to a collapse in the economy and to deflation. And this is something that the ECB could not accept.” The concern about the state of the banking system led to €1tn being lent to banks through three-year loans. Those contingency plans are now being dusted down amid speculation over a Greek exit, a once taboo possibility that European leaders have now begun to discuss openly.

      Greek President Karolos Papoulias told party leaders that banks had lost €700m in withdrawals alone on Monday and €3bn in 10 days since the election on May 6 as citizens rush to pre-empt capital controls. Between January 2010 and March 2012, Greeks have already been withdrawing their savings from banks at a sharp clip – nearly a third of bank deposits were withdrawn. The capital of four Greek banks was so low that they were operating with negative equity. JP Morgan said Greek banks have already exhausted their collateral. A refusal by the ECB to ease rules would amount to expulsion, forcing Greece “to issue its own money.”

      The growing alarm comes as judge Panagiotis Pikrammenos was picked as Greece’s caretaker leader until the next vote on June 17. While the timing of any exit is not clear, in their preparations bank banks are assuming a decision would be made quickly as the country would need to close down its borders and its banks to stop funds flooding out of the country.

      If Greece is to slide out of the euro and collapse, how are they going to protect Ireland, Portugal, Spain and Italy? European leaders who once denied vociferously that they were fretting over Greece leaving their currency union have given up pretence. Asked if he was concerned about a Greek exit, European Central Bank chief Mario Draghi said simply: “No comment”. German chancellor Merkel tells Greece to back cuts or face euro exit. International Monetary Fund (IMF) chief Christine Lagarde warned of “extremely expensive and hard consequences, and not just for Greece” were Greece to leave the euro zone, As the nation descended into political chaos, the fears that Greece’s dire state could drag the euro zone deeper into crisis rattled financial markets across the globe  are becoming very legitmate now. The IMF’s sister organization, the World Bank, said the crisis could spread beyond Greek borders to far bigger euro zone economies that are in trouble.

      Sources: Reuters May 15, Reuters May 16 10:50am; Reuters May 16 7:20pm, The Guardian, The Telegraph

      The Bank of England has been making contingency plans for the break-up of the euro – saying the eurozone “storm” is still the main threat to UK recovery. The eurozone crisis was not the only issue weighing on the UK economy, with volatile energy and commodity costs, and the squeeze on household earnings also having an impact. On May 10, thousands of off-duty police officers took to the streets in London on Thursday in a rare display of collective anger against government austerity measures, joining a mass protest by public sector workers including immigration officials, healthcare workers and prison officers. The Daily Telegraph reports that David Cameron is considering extra £25bn of welfare cuts.

      Sources: BBC, National Post, The Telegraph

      What happens in the eurozone in the coming weeks and months will have a great impact on the weakened global economy. In order to bring about one international government, there would have to be a one-world monetary system. The elite class will push for the international currency to shore up failing nations, and will be instrumental in bringing prophecy to bear concerning the mark of the beast. But some nations will oppose this rule.

  • Watchmansg1's Avatar
    59 posts since Apr '12
    • Wah follow the movie . Why huh , we fighting aliens issit ?


      Edited by Watchmansg1 18 May `12, 6:48AM
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    59 posts since Apr '12
    • Facebook Co-Founder Stands to Gain Choosing Singapore Over US
      May 13, 2012

      Eduardo Saverin, the billionaire co-founder of Facebook, renounced his US citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill.    

      Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in history for an Internet company. Saverin’s stake is about 4 percent, according to the website whoownsfacebook.com. At the high end of the proposed IPO market capitalization, that would be worth about $3.84 billion. His holdings aren’t listed in Facebook’s regulatory filings.    

      Saverin, 30, joins a growing number of people giving up US citizenship ahead of a possible increase in tax rates for top earners. The Brazilian-born resident of Singapore is one of several people who helped Mark Zuckerberg start Facebook in a Harvard University dormitory and stand to reap billions of dollars after the world’s largest social network holds its IPO. 



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    59 posts since Apr '12
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    59 posts since Apr '12
    • A 12-Year-Old Girl Crushes The Canadian (and American) Dream

      Submitted by Tyler Durden on 05/16/2012 - 13:42

      National Debt Ron Paul The Matrix

      When Ron Paul stands up in front of a crowd and explains the fictional-reserve banking system's unreality, some listen, many shrug and bury their heads. When ZeroHedge does the same, comments are heavy but change is slow to come. But when a 12-year-old girl, in a little over five minutes can explain the total farce that is our monetary system, surely people have to listen and break free of the matrix. Victoria Grant, 12, explains how "The banks and the government have colluded to financially enslave the people of Canada," and as CTV notes, 'Grant lays out a brief history of the Canadian banking system, referencing obscure historical figures such as former Vancouver mayor Gerald McGeer and explaining that the Bank of Canada held primary control over government lending until the 1970's. Starting then, she says, governments began borrowing from private banks instead at considerably higher interest rates than those available through the central bank. The result, Grant argues, is a rapidly increasing national debt. The pint-sized pundit is quick to offer a solution. "If the Canadian Government needs money, they can borrow it directly from the Bank of Canada," she says. " ... Canadians would again prosper with real money as the foundation of our economic structure." The truth is out there - whether it comes from Alan Simpson, Ron Paul, ZeroHedge, or a 12-year-old Canadian young lady.



  • Watchmansg1's Avatar
    59 posts since Apr '12
    • Euro: Is this how it ends?

      The dark scenarios are piling up. Here's a roundup of who's saying what about Europe's never-ending crisis. It's the story that just doesn't seem to end, and one that could affect the entire global economy. Yes, dear readers, Greece is back in the global business and economics headlines today. In a big fat way.A Grexit — this is what fun-loving economists are calling the possibility of a Greek exit from the euro — is once again the talk of the internets.

      Never mind that the European Union doesn't even have a process that legally allows member states to leave the single currency (the Lisbon Treaty only permits nations to leave the EU entirely).

      Never mind that Greece doesn't have a stable government, or a real plan for returning to the drachma, or that any new Greek currency would likely plummet in value as investors raced to cash out, driving the troubled Greek economy into even more short-term chaos.

      The mood around Europe is so grim that even Brussels technocrats are attempting to face it with a degree of humor.

      Here's how one Brussels jokester put it to Reuters today:

      "...it's a bit like the drummer in the band — if the band doesn't like the drummer, there are ways of getting rid of the drummer."

      For a more serious look at what is a very serious matter, see Paul Krugman's bleak assessment of the Greek situation in last night's New York Times.

      The Nobel Prize-winning economist darkly muses over the possibilities of Greece leaving the euro, and even laid out a five-step approach to the "end game," which Krugman warns could happen in months, not years:

      "1) Greek euro exit, very possibly next month. 2) Huge withdrawals from Spanish and Italian banks, as depositors try to move their money to Germany. 3a) Maybe, just possibly, de facto controls, with banks forbidden to transfer deposits out of country and limits on cash withdrawals. 3b) Alternatively, or maybe in tandem, huge draws on ECB credit to keep the banks from collapsing. 4a) Germany has a choice. Accept huge indirect public claims on Italy and Spain, plus a drastic revision of strategy — basically, to give Spain in particular any hope you need both guarantees on its debt to hold borrowing costs down and a higher eurozone inflation target to make relative price adjustment possible; or: 4b)End of the euro."

  • Watchmansg1's Avatar
    59 posts since Apr '12
    • Is the world about to unravel? Investor warns we are going to see bank runs happening all over Europe

      May 16, 2012ATHENSThe bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number. At this point, the entire Greek banking system is in danger of collapsing. If you had money in a Greek bank, why wouldn’t you pull it out? If Greece leaves the euro, all euros in Greek banks will likely be converted to drachmas, and the value of those drachmas will almost certainly decline dramatically. In fact, it has been estimated that Greek citizens could see the value of their bank accounts decline by up to 50 percent if Greece leaves the euro. So if you had money in a Greek bank, it would only make sense to withdraw it and move it to another country as quickly as possible. And as the eurozone begins to unravel, this is a scenario that we are going to see play out in country after country. As member nations leave the eurozone, you would be a fool to have your euros in Italian banks or Spanish banks when you could have them in German banks instead. So the bank runs that are happening in Greece right now are only a preview of things to come. Before this crisis is over we are going to see bank runs happening all over Europe. A Greek exit from the euro would not only result in a run on Spanish and Italian bonds, but it would also likely result in a run on Spanish and Italian banks. Meanwhile, banks in other troubled European nations are already on shaky ground. The Spanish banking system is an absolute disaster zone at this point and on Monday night Moody’s downgraded the credit ratings of 26 Italian banks. The situation in Italy is especially worth keeping a close eye on. As Ambrose Evans-Pritchard recently noted, things are not looking good for Italy at all: Italy’s former premier Romano Prodi said the EU risks instant contagion to Spain, Italy, and France if Greece leaves. “The whole house of cards will come down”, he said. Angelo Drusiani from Banca Albertini said the only way to avert catastrophe is to convert the European Central Bank into a lender of last resort. Otherwise Italy faces “massive devaluation, three to five years of hyperinflation, and unbearable unemployment.” –ETF Daily
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    59 posts since Apr '12
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    59 posts since Apr '12
    • Strange Phenomenon Happening All Around The Globe



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    59 posts since Apr '12
    • DBS chairman defends $6.2 billion of new shares to Temasek

      Bank chairman defends contentious offer as best option

      Published on Apr 26, 2012

      By Magdalen Ng & Goh Eng Yeow

      DBS Group Holdings chairman Peter Seah on Wednesday defended the bank's contentious decision to issue $6.2 billion worth of new shares to Temasek Holdings.

      The shares are being used to buy a 67 per cent stake in Indonesia's Bank Danamon from Temasek - raising concerns among some DBS shareholders that the value of their own shares will be diluted.

      Mr Seah said that the DBS board had no intention of going to its shareholders to raise funds for the purchase.

      Background story


      'What we have been harping on is the inequality between Temasek and the minority shareholders, who are not given a chance to pay for Danamon, resulting in dilution. This is not fair.'


      A shareholder at the AGM

      Some DBS shareholders questioned whether DBS had looked at alternatives to issuing new shares to Temasek. This could involve selling bonds to pay for Bank Danamon and thus minimise the dilution effect on their shareholdings

      DBS Group Holdings chairman Peter Seah believes issuing new DBS shares to Temasek is the best option. The shares are being used to buy a 67 per cent stake in Indonesia's Bank Danamon from Temasek. But some DBS shareholders are worried this will dilute the value of their own shares. -- PHOTOS: STEPHANIE YEOW, REUTERS

  • Watchmansg1's Avatar
    59 posts since Apr '12
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    59 posts since Apr '12
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    59 posts since Apr '12
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    59 posts since Apr '12
    • This teacher need to be removed from society .

      Doesn't matter how long the training is .

      No more excuses from the authorities .

      You have caretakers entrust to guide and nurture young lifes .

      This is what happens .

      I have to step in and check this nonsense from happening .

      There is no common sense and kindness from Singaporeans .

      And why you put the fathers photo ? We want to see the wrong doer's face .


      Edited by Watchmansg1 13 May `12, 7:56AM
  • Watchmansg1's Avatar
    59 posts since Apr '12
    • 'Verbal abuse' by teacher: Dad files police report


      Mr Ariffin with the police report and a letter of apology from the teacher who had used hurtful words on his daughter. -- ST PHOTO: NURIA LING
      By Stacey Chia

      An upset parent, learning that a teacher had used hurtful words on his daughter in class, has filed a police report for verbal abuse.

      Mr Mohamed Ariffin, 53, said that his seven-year-old daughter, who goes to New Town Primary School in Tanglin Halt Road, told him that her teacher said to her: 'I don't want to see your face.'

      Mr Ariffin made the police report last week. The school and teacher have both apologised for the incident.

      The teacher is believed to be a woman in her 20s, and in the school's Learning Support for Maths programme for slow learners.

  • Watchmansg1's Avatar
    59 posts since Apr '12
    • U.S. military blocks websites to help Japan recovery efforts

      March 15, 2011|By Mark Preston and Adam Levine, CNN
      Several websites, including YouTube, have been blocked from U.S. military computers in Japan to free bandwidth for recovery efforts.

      The U.S. military has blocked access to a range of popular commercial websites in order to free up bandwidth for use in Japan recovery efforts, according to an e-mail obtained by CNN and confirmed by a spokesman for U.S. Strategic Command.

      The sites -- including YouTube, ESPN, Amazon, eBay and MTV -- were chosen not because of the content but because

      their popularity among users of military computers account for significant bandwidth, according to Strategic Command spokesman Rodney Ellison.

      The block, instituted Monday, is intended "to make sure bandwidth was available in Japan for military operations" as the United States helps in the aftermath of last week's deadly earthquake and tsunami, Ellison explained.

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    59 posts since Apr '12
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    59 posts since Apr '12
    • Report: Asahi TV show airs photos of mutated plants in Tokyo — Same program to feature dire situation at No. 4 fuel pool — Asked audience to send in more examples

      A news reporter showed this mutated dandelion in the TV show “Morning bird” of TV asahi. 2 flowers from one huge stem. 20 of them are growing close to each other in Tokyo. Maybe the dandelions were stressed. The TV show is asking for more pictures of mutated plants


      Japan Times on Plant Mutations: “Trees died and others grew in abnormal shapes” says ecologist visiting Japan from Chernobyl


      They censored all the news coming out of Japan even with help of youtube .

  • Watchmansg1's Avatar
    59 posts since Apr '12
    • Solar flares heading toward Earth

      Scientists say eruptions could cause geomagnetic storms

      Published: 1 day ago

      (HERALD SUN) Solar flares from a massive sunspot could reach Earth, space weather observers say.

      A pair of solar eruptions on Monday sent so-called coronal mass ejections towards earth that could arrive tomorrow, causing moderate geomagnetic storms and auroras in northern latitudes, spaceweather.com said.

      A group of sunspots some 100,000km across emerged at the weekend, signaling the possibility of further solar storms.

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    59 posts since Apr '12

      AP: Obama marriage stance 'world precedent'

      'The U.S. is a global leader on everything, and that includes gay rights'

      Published: 1 day ago

      MEXICO CITY (AP) — President Barack Obama’s announcement Wednesday that he supports gay marriage boosted the hopes of gay rights groups around the world that other leaders will follow his example, though opponents denounced his switch as a shameless appeal for votes.

      Several countries, including Canada, Spain and Argentina, allow same-sex marriage, but far more countries ban it and dozens even prohibit consensual same-sex relations. Gay-rights groups hope Obama’s views will inspire more change.

      “This is incredibly important, it’s excellent news. The United States is a global leader on everything, and that includes gay rights,” said Julio Moreira, president of the Rio de Janeiro-based Arco-Iris gay rights group. “This will force other nations like Brazil to move forward with more progressive policies.

  • Watchmansg1's Avatar
    59 posts since Apr '12
    • Graham: Obama has 'shaken his fist' at God

      'It grieves me that our president would now affirm same-sex marriage'

      Published: 24 hours ago

      (Charlotte Observer) In another provocative comment aimed at Barack Obama, evangelist Franklin Graham on Thursday accused the president of having “shaken his fist” at God by changing his position on same-sex marriage.

      “It grieves me that our president would now affirm same-sex marriage, though I believe it grieves God even more,” Graham said in a prepared statement.

      “This is a sad day for America. May God help us.”

  • Watchmansg1's Avatar
    59 posts since Apr '12
    • Whooping cough outbreak linked to illegals

      Doctors warn of worst spread of pertussis in 40 years

      Published: 06/12/2005 at 1:10 AM

      The American Academy of Pediatrics is warning of the worst outbreak of whooping cough in 40 years, while those concerned about border control see it as more evidence that vanquished diseases are spreading due to widespread illegal immigration.

      Whooping Cough, or pertussis, is particularly dangerous for children and can be fatal in infants, warns the doctors group.

      “This illness is called pertussis because it is caused by bacteria called Bordetella pertussis, which attacks the lining of the breathing passages, producing severe inflammation and narrowing of the airways,” says the caution from the AAP. “Severe coughing is a prominent symptom. Because the child is short of breath, she inhales deeply and quickly between coughs. These breaths frequently make a “whooping” sound, which is how this illness got its common name. Older children might not have the whoop sound. The intense coughing scatters the pertussis bacteria into the air, spreading the disease to other susceptible persons.”

      The group says whooping cough often acts like a common cold for a week or two. Then the cough gets worse, and the child may start to have the characteristic “whoops.” During this phase (which can last two weeks or more), the child often is short of breath and can look bluish around the mouth. Infants with pertussis become exhausted and develop complications, such as susceptibility to other infections, pneumonia and seizures. The cough may not disappear for months and may return with subsequent respiratory infections.

      Hospitals, doctors and other health professionals are worried about the resurgence of some serious infectious diseases, and some believe illegal immigrants are the cause.

      A rise in diseases such as whooping cough, tuberculosis, malaria, measles and even leprosy are creating public health concerns and have hit hospitals and health care systems already financially burdened by indigent illegals flooding emergency rooms and urgent care centers.

      Madeleine Pelner Cosman, author of a report in the spring issue of the Journal of American Physicians and Surgeons, is one of those professionals who has linked the increase in diseases with illegal immigration.

      “Certain diseases that we thought we had vanquished years ago are coming back, and other diseases that we’ve never seen or rarely seen in America, because they’ve always been the diseases of poverty and the third world, are coming in now,” she said.

      As WorldNetDaily reported last month, even leprosy is suddenly on the radar of health officials.

      Cosman recommends closing the border to all illegal traffic, rescinding the citizenship of “anchor babies,” those born in the U.S. to parents of illegals, and making the aiding and abetting of illegals a crime and an end to all future amnesty programs.

      “We have a terrible, absolutely vicious, law called EMTALA: the Emergency Medical Treatment and Active Labor Act, which is really the culprit that requires every emergency room, and every physician of an emergency room, to treat illegal aliens for free,” she said.

      Cosman said 84 hospitals in California have been forced to close because of the high cost of treating illegal aliens with only 50 percent of all treatments reimbursed by government.

      “Even physicians in those emergency rooms, don’t fully get the point that by being compassionate, and generous, and gracious, they are, in essence, destroying their own livelihoods as well as their own hospitals,” she said.

      While politicians often mention there are 43 million without health insurance in this country, the Cosman’s report estimates that at least 25 percent of those are illegal immigrants. The figure could be as high as 50 percent.