Archive for the ‘Berno’ Category
Singapore ever changing city skyline from my bedroom – 010909
Six Distinguished Alumni Describe how Monash University Influenced their Careers
When I graduated from Monash University in 2004, I received more than just a Computing education. The experiences and opportunities in Monash opened my eyes and spurred my desire to understand a larger and interconnected world of knowledge and disciplines. My time in Monash has also encouraged me to boldy pursue my interests and passion which is the manner I want to live my life.
I thought the distinguished alumni featured in this videos perfectly described the capability and potential of this young and fine institution – Monash University.
Related link: Honouring our distinguished alumni (Monash University)
Facing up to the truth about the global financial crisis: The Current Situation, Potential Consequences and the Path to Recovery
Picture credit:António Lopes
The sub-prime mortgage crisis which erupted in the US back in 2007 has now besieged the global financial system, with no definite end in sight. During the April 2009 presentation at the Lowy Institute, the Asian Development Bank’s economists highlighted that this recession’s timing is unprecedented – hitting both developed and developing economics. This situation has made it harder to stage a recovery.
In order to break the current economic vicious spiral, Hernando de Soto (Institute for Liberty and Democracy, Peru) advocates the urgent need to ascertain and come clean about the extent of the remaining toxic assets (financial derivatives). He also warned of the impending social unrest and the loss of the developing economies’ confidence in the global financial system. This could happen if the US doesn’t apply its economic policy prescriptions for crisis-wracked developing economics to its own institutions.
The main source of the current financial woe is the uncertainty surrounding the toxic assets. It has been two years since the sub-prime mortgage crisis, yet these toxic assets still exist somewhere in the financial institutions’ balance sheets. The same questions still remain, “How much (toxic assets) still exist, and who owns them?”. This unknown has allowed fears to flow from Wall Street to Main Street and crippled the real economy.
Meantime, Secretary Geithner has set aside 1 trillion dollars to purchase these toxic assets. From the start of the crisis, 60 trillion dollars of real losses have already occurred in relation to the assets in question. The market’s irrational behaviour is clearly due to the lack of independent assessment of these toxic assets. Governments and the financial institutions needs to face up to the truth without further delay, collect the data and clearly identify the bad assets’ owners and ascertain their true value.
Some institutions may collapse as a result of these tests but those who have brought us to this state of affairs will have to face up to their deeds.
There will be grave challenges for global financial systems if developed economies like the US do not take the bitter pill and introduce stronger corporate governance, as advocated by the IMF during the 1997 Asian Financial Crisis. These challenges include:
a) Developing economics increased suspicion of the global financial model and its real benefits
During the recent G20 London Summit, UK Prime Minister Gordon Brown declared that “the Washington Consensus is over”. Developing economics that have suspected all along that they were not getting a fair deal from currently financial model will conclude that they are “getting more of the same”. The US Treasury and the Federal Reserve have to take this opportunity to deliver on promises of stricter governance and higher regulatory standards to control financial institutions.
b) Greater risk of social unrest after repeated and excessive publicly funded bailouts
Billions of dollars in public funding have been spent to prop up these ailing institutions and companies in the name of national economic stability (“Too large to fail“). At the same time, there are homeless, unemployed and impoverished people out on the streets who are questioning the lack of support for their situation. If these corporate bailouts do not work and indirectly keep those responsible for this crisis in their positions, many poor and disfranchised people will have had their legitimate needs unmet, and very possibly be a source of social unrest as they protest against the injustice and ineffectualness of these corporate bailouts.
In this global financial crisis, we have to stop fear in its tracks and recognise the losses before we can move on to the path of socio-economic stability and recovery.
This is a repost of an article piece first published for the Singapore Institute of International Affairs Global Citizen’s Blog.
Training for the 2009 Adidas Sundown Marathon – 35km Familiarisation Run with Team Fatbird
Last Friday, I took part in a Team Fatbird’s Sundown Marathon Route Familiarisation Run as part of my preparation for the May Sundown Marathon. I estimated more than 60 runners turned up for this community run, which began around 9pm. This is quite an impressive turnout for an event that was promoted mainly via Facebook and the word of mouth.
The running route (linked below) started from ECP Car Park C4 and went along the parts of the Eastern Coastal Park Connector Network. It offered runners an opportunity to experience the sights and sounds of the eastern suburbs including Siglap, Tampines, Pasir Ris and Loyang.
Good thing, there were committee members from Team Fatbird dispersed among the different running packs. One’s concentration can take a serious beating during a long distance overnight run. Anthony, David and the other Team Fatbird run pacers played an important role to lead the various running packs, chit chatting along the way and keeping motivation high among the trainees. A special mention goes out to Max for providing taking pictures of the runners along the route. The photos opportunities brought out the smiles of many.
Almost 4 hours 30mins later, drenched in perspiration and really yearning for my bed, I finally arrived at the finishing line. Ah Beng and Suan made the tiredness almost disappear with their wonderful hospitality with food and drinks donated by others.
This well attended run is a great testimony to the enthusiasm, dedication and generosity of the Singapore running community. To all who had donated resources to organise this event and participated in this run, THANK YOU!
Pictures taken by Max Ang (feetoffurry)
Related links:
An Internship with the Singapore Institute of International Affairs
Good news, friends! Since last month, I joined the Singapore Institute of International Affairs (SIIA) as an intern under the Eric Teo Global Citizens Internships programme. Founded in 1961, the SIIA is Singapore’s oldest think tank dedicated to the research, analysis and discussion of regional & international issues.
A unique feature of SIIA’s programmes is its commitment to public education including students and the general public population through events such as 938LIVE in NIE: What Does ASEAN Mean to You? (past) and the upcoming The Obama Administration’s First 100 Days forum (23 May 09).
During the last month with the organisation, I was introduced to the concept of “Track II diplomacy“, the various ASEAN foras, the various think tanks and special interests groups based in Singapore and the opportunity to be involved in the think tank’s flagship event – 2nd ASEAN & ASIA Forum.
I also enjoy the company I made within the organisation especially over lunch and tea discussion about philosophy and political/ economic theories. I am very grateful for the opportunity to be introduced to this environment before I return back to the university this July.
My Dusty Run 2009 Experience, Running 33km from ECP to the Eastern Suburbs
Last Friday (Good Friday), in preparation for the upcoming Sundown Marathon, more than 50 runners from Team Fatbird and other Singapore running community groups took part in the 2009 Dusty Run organised by Keonz.
The Dusty Run began at 9.20pm and the route starts from East Coast Park (ECP) to the eastern suburbs via Tanah Merah, Expo, Simei, Bedok Reservoir, Kembagan, Opera Estate and back onto the ECP.
Along the way, Max and Jane provided a much-appreciated dose of encouragement and fun as the run photographer along route. In the end, I learnt that my group ran 33km instead of the originally planned 30km because we bypassed an earlier turning point. I thought I knew the Singapore eastern suburbs inside out but this “jogging tour” took my understanding to a new level. Looking back at the run, I really treasured the opportunity to meet other running enthusiasts from all walks of life sharing one common passion – running.
Check out this link to other pictures taken during the run.
Singapore Marina Barrage in the Evening
- Taken on 040409 by Berno
The Marina Barrage located at the mouth of the Marina Channel is Singapore’s largest water catchment area. It offers a postcard-perfect vista of the Singapore Flyer and the city’s skyline.
Here is a link to my Singapore Marina Barrage collection of photos. You can also check out the Marina Barrage’s home page for more information about the structure and how to get there.
Singapore City Skyline in the Evening 310309
Took a picture of the Singapore city skyline while I was jogging along the Esplanade this evening (310309).
Please contact me (bernardoh3rd/at/gmail) or via the comment section if you require a higher resolution or other usage of this image.
My 2009 Calendar of Sporting Events: Fun runs, long distance, biathlon and triathlon
This page (mainly for my personal record keeping) will be regularly updated as I sign up (confirmed) for more events.
- 22 Feb 09- Singapore Tribob Sprint Aquathlon (750m swim, 5km run)
- 7 Mar 09- Singapore Biathlon (1500m swim, 10k run) Absent
- 24 May 09 – PAssion Run 2009 (15k run)
- 30 May 09- Adidas Sundown Marathon (42k run): Timing (), Photos(Here), Report()
- 28 Jun 09- Kuala Lumpur Marathon (tentative)
- 1 Australian race (tentative): Geelong Half Marathon (19 Apr)/ Sydney Morning Herald Half Marathon (17 May)/ Gold Coast Marathon (5 July)/ Sydney Running Festival (20 Sep)/ Melbourne Marathon (11 Oct)
- Singapore Army Half Marathon – tentative
- Borneo Marathon 2009 (11 Oct) -tentative
- OSIM Singapore Triathlon – tentative
- Angkor Wat International Half Marathon 2009 (6 Dec) – tentative
Are we restoring the economy or over fixated with the current symptoms
Australia’s economic outlook will not improve until the Government “shifts direction” and recognises the current financial crisis was caused by far too much money being loaned irresponsibly.
“The problem is you’ve got to cancel that debt either by abolishing it formally or by trying to refloat the economy and cause inflation and reduce the debt burden, but we’re still at least a year or two away before that realisation will sink in,” he said. – Dr Steve Keen (Australia facing debt-driven depression, ABC News)
Berno: Countries around the world are aggressively trying to “refloat” their economies by both fiscal and monetary policies. These measures include reserves banks interests rate cuts, banks re-capitalisation, special loans scheme to smaller businesses and handouts to boost domestic spending.
I am worried that we are spending too much resource to fight the first symptoms of the global depression. How much debt/ deficit can a country sustain? Federal interest rate is now at 0-0.25%. Debt got us into the current mess, how would more debt get us out of it?
Many in the government are emphasising that we are in unchartered territories. Should the situations worsen, would we be depleted of resources and programs to fight it?
Related links: Rudd’s $42 billion ‘nation building’ plan’ (Sydney Morning Herald)
