Living in JB

[Analytical Professor]

Joe Mcdonald, AP Business Writer, On Friday 5 August 2011, 11:51 SGT
BEIJING (AP) -- Asian stock markets tumbled Friday amid fears the U.S. may be heading back into recession and Europe's debt crisis is worsening.

The sell-off in Asia follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.

Oil prices extended sharp losses to near $86 a barrel in Asia amid expectations a slowing global economy will undermine demand for crude.

Japan's Nikkei 225 stock average slid 3.4 percent to 9,328.74 points and Hong Kong's Hang Seng dived 4.4 percent to 20,912.60. China's Shanghai Composite Index lost 2.1 percent to 2,626.80.

Investors fretted over the U.S. economic recovery ahead of Friday's release of crucial jobs figures for July, which often set the tone in markets for a week or two.

Many were also rattled by the lack of agreement in Europe about debt and how to stabilize the euro, said Tom Kaan of Louis Capital Markets in Hong Kong.

He said they also were watching to see whether the U.S. Federal Reserve launches a new stimulus effort.

"A lot of people will be trying to stay on the sidelines," Kaan said. "It's a general fear that is clouding the markets at the moment."

Elsewhere in Asia, South Korea's Kospi index shed 3.6 percent to 1,945 and Taiwan's benchmark skidded 4.4 percent to 7,952.98. Australia's benchmark dropped 4 percent to 4,103.10.

Investors, already fidgety after protracted bargaining to raise the U.S. debt limit and worries that Italy and Spain are getting deeply embroiled in Europe's debt crisis, searched for assets considered safer, such as gold.

"Stocks will continue to dive, especially in Euroland, where profits are disappointing analysts' estimates," said Carl B. Weinberg of High Frequency Economics in a report.

In Europe, most markets shed more than 3 percent Thursday. France's CAC-40 tumbled 3.9 percent, Germany's DAX lost 3.4 percent and Britain's FTSE 100 also shed 3.4 percent.

For the day, the Dow closed down 512.76 points, at 11,383.68. It was the steepest point decline since Dec. 1, 2008.

Thursday's decline was the ninth-worst by points for the Dow. In percentage terms, the decline of 4.3 percent does not rank among the worst. On Black Monday in 1987, for example, the Dow fell 22 percent.

In currency markets, the dollar edged down to 78.64 yen from late Thursday's 79.02 and the euro weakened slightly to $1.4100 from Thursday's $1.413.

On Thursday, Japan's government intervened in markets to weaken the yen against the dollar to support exporters. Finance Minister Yoshihiko Noda said authorities acted to protect the economic recovery following the March 11 earthquake and tsunami.

The dollar had fallen as low as 76.29 yen on Monday. It hit a record post-World War II low of 76.25 yen in the days following the March 11 earthquake and tsunami.

The intervention was coupled with monetary policy easing by the central bank's board.

Japan's moves came only a day after the Swiss National Bank intervened to slow a rise in the Swiss franc, another currency perceived as a save-haven at a time investors are fleeing risky assets such as shaky European government bonds.

Benchmark oil for September delivery was down 39 cents to $86.20 a barrel in electronic trading on the New York Mercantile Exchange. Crude fell $5.30 to settle at $86.63 on Thursday.

Associated Press writer Alex Kennedy in Singapore contributed.

 

[Analytical Professor]

NEW YORK (AP) — Gripped by fear of a new recession, Wall Street suffered its worst day Thursday since the financial crisis in the fall of 2008. The firestorm of selling that erased more than 500 points off the Dow Jones industrial average then spread overseas.
The sell-off wiped out the Dow's remaining gains for 2011. It put the Dow and broader stock indexes into what investors call a correction — down 10 percent from their highs in the spring.
In Friday trading in Asia, Japan's benchmark Nikkei 225 stock average was down more than 3 percent and Hong Kong's Hang Seng shed 4 percent.
"We are continuing to be bombarded by worries about the global economy," said Bill Stone, the chief investment strategist for PNC Financial.
Across the financial markets, the day was reminiscent of the wild swings that defined the financial crisis in September and October three years ago. Gold prices briefly hit a record high. Oil fell even more than stocks — 6 percent, or $5.30 a barrel. And frightened investors were so desperate to get into some government bonds that they were willing accept almost no return on their money.
It was the most alarming day yet in the almost uninterrupted selling that has swept Wall Street for two weeks. The Dow has lost more than 1,300 points, or 10.5 percent. By one broad measure kept by Dow Jones, almost $1.9 trillion in market value has disappeared.
For the day, the Dow closed down 512.76 points, at 11,383.68. It was the steepest point decline since Dec. 1, 2008.
Thursday's decline was the ninth-worst by points for the Dow. In percentage terms, the decline of 4.3 percent does not rank among the worst. On Black Monday in 1987, for example, the Dow fell 22 percent.
Two weeks ago, investors appeared worried about the deadlocked negotiations in Washington over raising the ceiling on government debt. As soon as the ceiling was raised, investors focused on the economy, and the selling accelerated.
On Thursday, growing fear about the weakening U.S. economy was joined by concern in Europe that the troubled economies of Italy and Spain might need help from the European Union.
The European Union has already given financial assistance to Greece and Ireland, two countries that have struggled to pay their debts. A financial rescue package for Italy or Spain might be more than the group of countries can handle.
Traders also unloaded stocks before Friday's release of the government's unemployment report for July, which is expected to show weak job growth and perhaps a rise in the unemployment rate, which is 9.2 percent.
Together, they produced "a perfect storm of selling," said Ryan Larson, head of U.S. equity trading for RBC Global Asset Management.
Until a week ago, Wall Street had mostly convinced itself that the U.S. economy would improve in the second half of the year. Gas prices were falling, and Japanese factories were resuming production after disruptions from the March earthquake.
Then one report after another began to show that the economy was much weaker than first thought.
Manufacturing is barely growing. The service sector, which covers about 90 percent of the American work force, is growing at the slowest rate in a year and a half. People spent less in June than in May, the first decline since September 2009.
And the overall economy is expanding at the slowest pace since the end of the Great Recession. It grew at an annual rate of just 0.8 percent for the first six months of this year, raising the risk of another recession.
In an indication of how frightened investors are, Bank of New York Mellon said it would start charging large investors to hold their cash because they are depositing so much. The bank's clients include pension funds and large investment houses that are selling stock and need to deposit the proceeds.
Mark Luschini, chief investment strategist for Janney Montgomery Scott, an investment firm in Philadelphia, said his clients saw the move from stocks into cash as "a parking lot to sort things out."
"With the scars of 2008 still fresh," he said, "some clients don't want to miss the chance to pre-empt further damage should it come."
Wells Fargo Advisers, a financial management company in St. Louis, said clients were more nervous.
"I wouldn't say they're totally panicking. But obviously nerves are rattled," said Scott Marcouiller, chief technical market strategist there. "And I think that is simply because of the speed of the decline."
Other market indicators reinforced the risk-averse mood. Gold, which is seen as a safe investment when the stock market is turbulent, set a record price, $1,684.90 an ounce, before falling to finish the day at $1,659. Adjusted for inflation, gold is still far below the record reached in 1980.
The yield on the 10-year Treasury note fell to 2.42 percent, its lowest of the year, and the yield on the 2-year Treasury note hit its lowest ever, 0.265 percent. Bond yields fall when demand for bonds increases.
The yield on the one-month Treasury bill fell to almost nothing — 0.008 percent. Investors were willing to accept paltry returns in exchange for holding investments they believed to be stable.
The sell-off was broad. All 10 industry groups in the Standard & Poor's 500 index fell. Energy companies lost almost 7 percent, materials companies were down 6.6 percent, and industrial companies lost more than 5 percent.
For a time, Kraft Foods was the only stock to rise among the 30 that make up the Dow industrials. Kraft announced Thursday that it would split in two, with one company focusing on snacks and the other groceries. But the selling eventually dragged Kraft under, too, and its stock finished down 52 cents, at $33.78.
Steep stock market losses like the ones of the past two weeks can be self-reinforcing. A drop in stocks erodes household wealth and raises doubts about the economic outlook.
The result can be what economists call a vicious cycle. Stock losses take a toll on consumer confidence and make people more reluctant to spend money. Consumer spending makes up 70 percent of economic output in the United States.
Kevin Cook, senior stock strategist for Zacks Investment Research in Chicago, said investors' worst fears probably won't come true.
"This is not 2008 again," he said. "We don't have a liquidity crisis, we don't have a credit crisis — this is just profit taking."
Cook said he believes the S&P 500, which closed Thursday at 1,200.07, will trade between 1,150 and 1,250 between now and Oct. 1, at least until investors have enough information to determine whether the economy is in recession again.
Even taking into account the recent declines, stocks are still considered to be in an impressive bull market that began March 9, 2009, when the market reached its recession low.
The Dow closed that day at 6,547. Since then, it is up about 74 percent.
One year ago, the Dow closed at 10,680. About a month later, the stock market began a rally that took the Dow almost to 13,000. The catalyst was an announcement by Federal Reserve Chairman Ben Bernanke that the Fed was preparing to launch a program to buy $600 billion in government bonds to keep interest rates low and help stocks rally.
The sell-off now comes at a time when corporate profits are growing. For the S&P 500, a measure called the forward price-to-earnings ratio has fallen to about 12, well below its long-term average of 16. That means that investors who buy now are paying less for each dollar in profits.
Based on what an investor now pays for corporate profits, stocks are now trading at their lowest levels in 20 years, said Tim Courtney, chief investment officer of Burns Advisory Group in Oklahoma City.
But few companies were spared in the sell-off Thursday. Just three of the 500 stocks in the S&P 500 moved higher. General Motors fell 4 percent despite beating analyst estimates for its quarterly earnings.

 

[Analytical Professor]

Has the bloodbath begun?.. . .? Time will tell.....

But i vividly recall mentioning some time ago that this was gonna happen.

My comments were met with a firm rebuttal.... Thus....

1) was professor neefling us again?

2) all reports in newspapers point to a healthy state of economy...

Time has hopefully proved me right....

 

[abugumgum]

Yes, I am using a mix of pFingo, Hoiio, Singtel (my place has signal - you tested it out the other time) and Hotlink prepaid.

Ok thanks....

I know the Wimax concept.... Thanks for clarifying....

BTW you plan to use pfingo? Cheaper than even using Malaysian phone to call back Singapore!

 

[abugumgum]

Wow, good then, one more option.

OOps i just checked on the P1 website

P1 4G is available at Setia Tropika...

 

[house]

wa..... really catch up with the speed here.
never log in for sometime, cannot catch up oledi....
thank you all for the info shared here....

 

[abugumgum]

First time exploring Taman Mount Austin.

Tried this chicken rice shop.

Restoran Bai Nian Jia 百年佳

- very nice Black Bean Chicken Boiled Soup Rm 6.5 / bowl, Good for 2 to share
found 6 dates in it, to us, this is a lot. Sweet and yummy.

- there are other types of soup, yet to try.

- Chicken rice is soft, meat portion is generous at Rm 4 a plate with meat on a separate plate.

- wet towels FOC. Price are nett, no additional tax or charges.

- Promotion for take away at Rm 3 per pack, limited to 3 packs. I tried and the portion is just as generous, not scaled down.

- open 11am - 3pm and 5pm - 11pm

No. 61, Jln Austin Heights 3, Taman Mount Austin, 81100, Johor.

http://maps.google.com/maps?q=taman+mount+austin&hl=en&ll=1.560885,103.78163&spn=0.009813,0.016512&sll=1.352083,103.819836&sspn=1.210883,0.726471&z=17
Approx Co-ordinates:

1.56087, 103.78005

 

[Investor]

Has the bloodbath begun?.. . .? Time will tell.....

But i vividly recall mentioning some time ago that this was gonna happen.

My comments were met with a firm rebuttal.... Thus....

1) was professor neefling us again?

2) all reports in newspapers point to a healthy state of economy...

Time has hopefully proved me right....

Maybe Living in JB might become even more popular among Singaporeans if a mega recession hits, businesses close down and people lose jobs etc.
Anyway, while many will be financially, mentally, physically(less money = less spa massage ) affected by a serious recession, cash rich people are praying for it to come soon.

 

[Grago]

First time exploring Taman Mount Austin.Tried this chicken rice shop.Restoran Bai Nian Jia 百年佳- very nice Black Bean Chicken Boiled Soup Rm 6.5 / bowl, Good for 2 to share found 6 dates in it, to us, this is a lot. Sweet and yummy.- there are other types of soup, yet to try.- Chicken rice is soft, meat portion is generous at Rm 4 a plate with meat on a separate plate.- wet towels FOC. Price are nett, no additional tax or charges. - Promotion for take away at Rm 3 per pack, limited to 3 packs. I tried and the portion is just as generous, not scaled down.- open 11am - 3pm and 5pm - 11pmNo. 61, Jln Austin Heights 3, Taman Mount Austin, 81100, Johor.http://maps.google.com/maps?q=taman...352083,103.819836&sspn=1.210883,0.726471&z=17Approx Co-ordinates:1.56087, 103.78005

AGG, nicely done with the GPS coords..............

 

[Grago]

Has the bloodbath begun?.. . .? Time will tell.....But i vividly recall mentioning some time ago that this was gonna happen.My comments were met with a firm rebuttal.... Thus....1) was professor neefling us again?2) all reports in newspapers point to a healthy state of economy...Time has hopefully proved me right....

Hey Prof. toooo much "shoot'em up and gore" movies....... profit taking bro. Then back to before......... Hopefully!!!!!!!

 

[LeMans2011]

BFF

Thanks for your insight on the seepage issue. Yes definitely it is workmanship issue as the developer was FEO. Have sold the house some time back and i ass them every time i visit their show house

 

[jasonjst]

Thanks guys,
Never know that a crack can be complicated to repair ! Best to get a professional work man that wont cheat you .
Fortunately , my house have no crack so far , hope it wont strike in years to come .

 

[cathylmg]

I have lost my laptop on a bus due to my own forgetfulness, and have to send my old notebook for repair. Miss this forum so much but the internet connection in the provided by the Library actually block this forum. What a surprise. Anyway am finally back now.

How are all the bros and sis here doing eh? Going back thru 30 odd pages of posting is not joke manz. Have to give up he replying the earlier posts. Hope I don't miss out too much...:(

 

[cathylmg]

Read this letter to the Forum page of the ST dated 21 July, apropos of the war against dengue. Quote: "The Housing Board should limit each family to two plants along the corridor. The plants are not only breeding grounds for mosquitoes, but also a nuisance to neighbors as they attract other insects. The corridors are also obstructed when there are too many plants." Unquote.
Let's count our blessings.... and be careful of breeding mosquitoes.
Growing leafy vegetables for home enthusiasts The National Parks Board sends out regular newsletters which are among the best I have had the pleasure of regularly receiving - free as well. I was particularly excited about the course, also for free - on the subject mentioned. "Come attend this talk to learn about the different types of leafy vegetables which can be grown in our local climate, the growing processes involved, including seed sowing, fertilising, watering, plant protection, and harvesting." The talk is to be held at the Marine Parade Public Library on 20 August from 3-4 pm. I hope questions and answers will be welcome.
Details here:
http://nparks.eventshub.sg/ems_wb_Details.aspx?CalID=5&EventID=242246

The latest newsletter can be accessed here at http://www.nparks.gov.sg/cms/enewsletter/aug11/

Please visit my weblog at puterim.com, and VOTE on what you would find useful to know about what is going on in Singapore - particularly those who are living here at least as much as living in Spore. If not for good friends who send desperate message to inform me of this or that [and since I do not get the ST or watch Spore TV by choice], this is sometimes quite essential information I would not otherwise have access to and so miss out.

Did they mention about checking the mosquitos breeding in the drains? How about fining the town councils too?

 

[cathylmg]

My friend recommended this money changer at Bedok too.
Just yesterday, we called the above money changer and another one at The Arcade to compare rates, the one at Bedok offered almost the same rate as the one at Arcade.

Thanks for sharing Cathy. Just like what you mentioned, they just quote you the best rate and you don't need to negotiate(unless if you're changing very large amount, maybe can get a little more)

I've also compared Parkway Parade's money changer to the one at Arcade, Parkway can't match the rate which Arcade is giving(same timing) even after telling them the rate Arcade offered plus I'm buying RM150k. They just can't or won't match Arcade's rate.

Tell you what. I have found another 'near' Tampines Central. Let me confirm first.

 

[Analytical Professor]

I agree.... The cash rich will always book profits...

) affected by a serious recession, cash rich people are praying for itr to come soon.

 

[Investor]

Tell you what. I have found another 'near' Tampines Central. Let me confirm first.

Really? So many are offering better than Arcade? Thanks in advance

 

[pockaroo]

Is the camera tilted?

Don't have a clue. I found it on a property website. I do HOPE it is the cameraman whose skill is lacking.
I however would not want to imagine the alternatives ....

 

[cathylmg]

Joe Mcdonald, AP Business Writer, On Friday 5 August 2011, 11:51 SGT
BEIJING (AP) -- Asian stock markets tumbled Friday amid fears the U.S. may be heading back into recession and Europe's debt crisis is worsening.

The sell-off in Asia follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.

Oil prices extended sharp losses to near $86 a barrel in Asia amid expectations a slowing global economy will undermine demand for crude.

Japan's Nikkei 225 stock average slid 3.4 percent to 9,328.74 points and Hong Kong's Hang Seng dived 4.4 percent to 20,912.60. China's Shanghai Composite Index lost 2.1 percent to 2,626.80.

Investors fretted over the U.S. economic recovery ahead of Friday's release of crucial jobs figures for July, which often set the tone in markets for a week or two.

Many were also rattled by the lack of agreement in Europe about debt and how to stabilize the euro, said Tom Kaan of Louis Capital Markets in Hong Kong.

He said they also were watching to see whether the U.S. Federal Reserve launches a new stimulus effort.

"A lot of people will be trying to stay on the sidelines," Kaan said. "It's a general fear that is clouding the markets at the moment."

Elsewhere in Asia, South Korea's Kospi index shed 3.6 percent to 1,945 and Taiwan's benchmark skidded 4.4 percent to 7,952.98. Australia's benchmark dropped 4 percent to 4,103.10.

Investors, already fidgety after protracted bargaining to raise the U.S. debt limit and worries that Italy and Spain are getting deeply embroiled in Europe's debt crisis, searched for assets considered safer, such as gold.

"Stocks will continue to dive, especially in Euroland, where profits are disappointing analysts' estimates," said Carl B. Weinberg of High Frequency Economics in a report.

In Europe, most markets shed more than 3 percent Thursday. France's CAC-40 tumbled 3.9 percent, Germany's DAX lost 3.4 percent and Britain's FTSE 100 also shed 3.4 percent.

For the day, the Dow closed down 512.76 points, at 11,383.68. It was the steepest point decline since Dec. 1, 2008.

Thursday's decline was the ninth-worst by points for the Dow. In percentage terms, the decline of 4.3 percent does not rank among the worst. On Black Monday in 1987, for example, the Dow fell 22 percent.

In currency markets, the dollar edged down to 78.64 yen from late Thursday's 79.02 and the euro weakened slightly to $1.4100 from Thursday's $1.413.

On Thursday, Japan's government intervened in markets to weaken the yen against the dollar to support exporters. Finance Minister Yoshihiko Noda said authorities acted to protect the economic recovery following the March 11 earthquake and tsunami.

The dollar had fallen as low as 76.29 yen on Monday. It hit a record post-World War II low of 76.25 yen in the days following the March 11 earthquake and tsunami.

The intervention was coupled with monetary policy easing by the central bank's board.

Japan's moves came only a day after the Swiss National Bank intervened to slow a rise in the Swiss franc, another currency perceived as a save-haven at a time investors are fleeing risky assets such as shaky European government bonds.

Benchmark oil for September delivery was down 39 cents to $86.20 a barrel in electronic trading on the New York Mercantile Exchange. Crude fell $5.30 to settle at $86.63 on Thursday.

Associated Press writer Alex Kennedy in Singapore contributed.

Oh well! Blood is on the street right now. Do you believe that its time for bottom fishing again? Bwahahaha!

 

[cathylmg]

Maybe Living in JB might become even more popular among Singaporeans if a mega recession hits, businesses close down and people lose jobs etc.
Anyway, while many will be financially, mentally, physically(less money = less spa massage ) affected by a serious recession, cash rich people are praying for it to come soon.

Oh please! Don't come! Please don't come. The causeway traffic is still bearable now. If all come to JB custom will be jam everyday of the week! :P