Poor People in Singapore

There are poor people in Singapore.  The poor are really poor and the rich are really rich.  And the divide is probably getting larger.  The median monthly household income from work amongst resident employed household for year 2012 was S$7,570.  This includes employer Central Provident Fund contributions.  Based on statistics, there are 9.2% of households with no working persons, of which, 6.0% of these are retiree households.

I have become more aware of the poor around us.  At least to me, I have been noticing that there are more and more people walking (or standing) around selling tissue papers.  Well, they are not really selling tissue papers are they?  Some of them just place the tissue papers on your table while you are eating and ask you for money.  They are almost literally begging for money.  The selling of tissue paper is just a "cover".  After all, begging is illegal in Singapore(?).

One also notices that there are people who are selling tissue papers outside supermarkets, grocery stores, etc.  Anybody in need of a tissue paper can easily pop into one of those stores to buy themselves all the tissue they need.  But yet, it is not uncommon to see people stopping to buy tissue paper from these poor people who peddle their wares.

It is also increasingly common to see homeless people sleeping around in the void decks or at various places in Singapore.  Well, these people might not be homeless.  But nobody really knows.  And nobody bothers to ask.

Just today, I witnessed a woman go up to some diners to ask for money to buy food.  It might come as a surprise to some but I have actually seen people eating left over food on the tables as well as from the dustbins.  Yes, we can dismiss them as perhaps mentally unsound.  But perhaps the reason is that they are really poor.

There is also this struggle within me about how to help the poor.  I struggle with it every now and then.  Surely change must begin with me.  But there are limits to how much I can do.  Or perhaps, these are just my excuses.

Make Their Wishes Come True

Dear Readers,

Have started a donation campaign to raise $10,000 for Make A Wish Foundation.  Make A Wish Foundation (Singapore).  The target is $10,000 to be achieved by the end of this year.

For those who might not know, make a wish foundation tries to fulfil the wishes of children who suffer from life-threatening medical conditions.  Think of what you can do just to put a smile on their faces.

If you have enjoyed reading this blog in one way or another, please make a little donation to support this worthy cause.  Any small amount, no matter how little, will do.

Thank you.

Reasons to Buy Gold or Silver

Gold and silver seem to be back to their 2011 levels. iShare Silver Trust (SLV) is trading at $28.41 while SPDR Gold Trust (GLD) is trading at $156.22.  Well, gold and silver spot price are also trading around $1600/oz and $29/oz respectively.  The talking heads at Bloomberg and CNBC are all now suggesting that it might be the end of the gold bull run.  After writing the earlier posting yesterday, I thought about it and decided that perhaps a more balanced view ought to be presented.

So in this posting, I will throw up some of the reasons to continue buying gold or silver.

Firstly, the world's central banks are now net buyers of gold, purchasing gold like never seen before.  According to the World Gold Council, central banks accounted for 12% of total demand for gold in 2012.  The demand for silver also seems to be rising and the supply does not seem to be able to keep up (at least that is what the silver bugs' charts are telling us).

Secondly, with all the money printing by the Feds, inflation is almost certain.  Gold and silver are thus a good hedge against inflation since many view them as the true store of value.  Many of these proponents are also predicting that the dollar will soon crash and that somehow, someday, the entire world will go back to the gold standard.

Thirdly,  while the prices of gold and silver might have corrected a fair bit for this year, the global outlook still looks uncertain.  The US debt is reaching alarming levels, Europe crisis, etc.  So it is not surprising that people are bullish on these 2 metals since they seem to have a negative correlation to the overall stock market/economy.

In any case, the people who argue for investing in gold or silver are still sticking to their guns that another bull run is in the making.  Will they be correct?

Gangnam Style - Jayesslee

This is another really cool version of Gangnam Style done by Jayesslee.  I believe that they are sisters.  Really nice and some what similar to the acoustic version of Gangnam Style done by Steph Micayle

 

The End of the Gold Bull Run?

Is this the end of the bull run for gold which has seen a meteoric rise over the past years.  Goldman Sachs has a 12 month forecast of $1,550/oz.  Gold has dropped 5 percent from the start of the year with investors like George Soros also cutting down his gold holdings.  Of course, one would be wise to heed the Warren Buffet's take on gold (even though it might be dated).  Many have also called gold the ultimate bubble while others are still quite bullish on this precious metal.  But with the US printing money with a vengeance, it is little wonder why many would want some kind of hedge against inflation.

Gold had hit an all-time high in Sept 2011 of slightly over $1920/oz.  Today, gold spot price is at $1597/oz.

Burger Taste Test : Beef or Horse

So the latest news on the horse meat scandal is that IKEA's meatballs have been implicated too.  Well, there is no idea yet whether Singapore has been affected.  Anyway, here is a burger taste test video.

Thierry Henry Returning to Arsenal

Thierry Henry looks like he could be returning to Arsenal for his third stint.  The Frenchman has a close relationship with Arsenal manager Arsene Wenger and is also Arsenal's all-time record goalscorer.  He has scored 226 goals during 1999 to 2007 and 2 goals during his loan spell from New York Red Bulls last season.

Henry's deal is set to expire soon and rumours seems to suggest that he could be set for a return to the Emirates.