Two Koreas and Thailand-Different Strokes

Yes, these two photographs paints a diametrical different picture of political systems. The first picutre is that fo a tearful reunion as the two Koreas allowed a special occasion for long lost family members from either side to meet briefly after the country went to two different ways.

in the photo below, South Korean Park Yang-gon (right) hugs his North Korean brother who was abducted by North korea buring the 1950 Korea War. This crying reunion was held at Mount Kumgang resort in North Korea. Some 100 South Koreans crossed the world's most heavily fortified border for the occasion. (February 21st, 2014)

How precious art thou!

The second shows Farmer power as tractors moved down the thoroughfare in Bangkok against  PM Yingluck Sinawatra 

Battle Formation of  a Convoy of Tractors

In battle formation, tractors and other agricultural vehicles clogged the road in Ang Thong province heading towards Bangkok's Suvanabhumi Airport.                

What a contrast!

Verging on to Bankruptcy

Apathy and Punishment

This article in today's (21 Feb 2014) edition of the online Malay Mail is truly disturbing.

Just like in the earlier article I posted on galloping bankruptcy cases in Malaysia, this article adds further information that shows us that the problem could get worse in 2014.

I have edited the article.

" Dave, a legal adviser aged 27 recounts that poor judgment and financial mismanagement is part of the reason he is heavily in debt.  Roughly half his monthly take-home pay goes towards repaying a RM 48,000 study loan, a RM 70,000 car loan and RM 5,000 in credit card debt.

Faced with higher prices for everything from petrol through electricity as the government drastically quickens the roll-back of major subsidies, many Malaysians debtors are not expecting things to get any better. 

It's  bite the bullet time for many living just on the verge of more impending debt.

Low interest rates and cheap credit has fueled a spending boom that has helped the Malaysian economy grow but the fall-out is that it has also left many Malaysians struggling with large monthly debt repayments.

Bank Negara (BNM) data shows that household borrowing is shockingly above 80 per cent of the country’s total economic production or Gross Domestic Product (GDP).

It also shows that the number of individual bankruptcies have been rising steadily every year.

In 2013, personal bankruptcies reached 21,984; that’s roughly 60 cases each day.

Even before the government started cutting subsidies because incomes are not increasing, households were already using up a large portion of their incomes to repay loans for things such as houses and even weddings.

The time has come. Back against the wall, many households just cannot afford to cut back further on their basic needs. Many will likely sink into greater debt just to fund basic needs such as food, healthcare and education for their children.

Standard & Poor’s recent report said that Malaysia’s households could land in a tight spot because they have borrowed heavily even though their incomes are modest.

'People earning RM 3000 or less each month have taken on debt that outweighs their incomes,' it said.

"These borrowers constitute about 16 per cent of the banking system’s loans and are particularly vulnerable to inflation,” it added.

The official rate of inflation in Malaysia reached 3.2 per cent in December, the highest in over two years.

Some economists predict that inflation could reach 4.0 per cent later this year as the effects of higher fuel and electricity trickle through the economy.

As the inflation rate rises BNM will be under pressure to elevate interest rates which in turn  could  push up borrowers’ monthly debt repayments even further.

“Borrowers who have difficulty keeping up with their loan instalment payments are encouraged to approach their credit providers or AKPK to restructure or reschedule their loans so that they can continue to service them,” said Koid Swee Lian, the CEO of the government’s debt counselling agency AKPK.

“Ignoring mounting debts and ‘running’ away from lenders would not solve debt problems but would lead to bankruptcy eventually,” she added.

The number of people applying for AKPK’s free debt management programme rose to 16,769 in 2013 from 16,110 the previous year. More may just come by very soon to obtain counsel.

According to AKPK, the top reasons for going into heavy debt are poor financial planning at 22.8 per cent, high medical expenses at 18.1 per cent, failure or slowdown in businesses and credit card debts at 15.3 per cent and 11.1 per cent respectively.

An overwhelming 82.9 per cent who needed the debt agency’s help had a combination of credit card debts, housing and car loans.

So it looks like the new year is not happy nor prosperous for many after all.

Dysfunctional is the Key word for the Family Now

Inter-generational Clash of Values

Sometimes, in reflection, I believe most families do want to appear ideal.

At best, they hope that the lack of intra-family complaints, friction and quarrels  is representative of a fairly good functioning family.

Families that are strictly control by conventionality, conservatism and religion tend to be more conforming, subservient and tolerant of parenthood.

However, today  conventions is dying for most families. The authoritarian paternal and maternal figures are given nominal respect as religion continues to take a back seat due to knowledge explosion, science and technology and instantaneous  global communications.

Western culture-movies and songs-and the exported mores they bring along are slowly becoming part of the Y Generation as the concept of the strict father and mother figures disappear.

Dysfunctionality can also be the result of the clash of values within the family. When parents cannot share common values, the children will drift away buoyed by exported values or peer influence such as those now hooked to K-Pop or to Korean TV series.

So, dysfunctionality is change; a directional change. It may just become a trend-one that is antithetical to so-called good Asian family values that we have known for generations past.

I guess the modern society will become more and more  individualistic as families become dysfunctional.

Malaysia, like most Asian countries will go that way too!

Zoned Out with Walter Mitty

The Biting Himalayas

I guess this is one enjoyable remake especially with the state of the art special effects and computer graphics.

The Seas off Greenland and a Shark Fight

Walter Mitty, a negative manager at Life-Time Corporation contributed to the life-line of Life Magazine. A daydreamer, his final mission was to look for famed photographer Sean's negative No.25  which will be the cover of the final printed copy of Life Magazine before it goes fully digital. This was to take him to true exciting adventures from Greenland,Iceland to Afghanistan.

The Imagination of Walter Mitty

He had to jump off from a helicopter flown by a drunk pilot in the rough icy seas off Greenland to fighting off a man-eating shark; work on a ship en route to Iceland  and  to escaping  a volcano in Iceland and then, subsequently to Afghanistan to meet with the Taliban warlords and to search for the elusive and ghostly snow leopard.

The Protagonists, Walter and Cheryl

Wonderful portrayal by Ben Stiller,Kristen Wiig and Sean Penn.

The soundtrack and the songs (especially Pina colada) was simply superb.

Sean Penn as the intrepid photographer

Enjoyed this movie. I believe I zoned out to just like Walter.

The Winter of Our Lives-Pertinent Issues and Hopes

The Winter of our Life

We have just celebrated the Chinese New Year of the Wooden Horse.

For many of us, in the 60's, where do we go from here?

 We are already in the winter of our lives.

When will winter end for us?

What Should Be Our Mindset?

What should be our mindset as we lived in these end times of our natural life?

The simple mantras.

Live simply, Love generously, Care deeply, Speak kindly... 

LUNCH and, then, it was winter.

Read this email-it is sober and sombre but real...............

The Absolute Need to Forgive

I first started reading this email and was reading fast until  I reached the third sentence. I stopped and started over, reading slower and thinking about every word. This email is very thought provoking. It makes you stop and think. Read SLOWLY!

And Then It Is Winter 

You know. . . time has a way of moving quickly and catching you unaware of the passing years. It seems just yesterday that I was young, just married and embarking on my new life with my soul mate. Yet in a way, it seems like eons ago, and I wonder where all the years went. I know that I lived them all. I have glimpses of how it was back then and of all my hopes and dreams.

But, here it is... the winter of my life and it catches me by surprise...How did I get here so fast? Where did the years go and where did my youth go? I remember well seeing older people through the years and thinking that those older people were years away from me and that winter was so far off that I could not fathom it or imagine fully what it would be like.

But, here it is...my friends are retired and getting grey...they move slower and I see an older person now. Some are in better and some worse shape than me...but, I see the great change...Not like the ones that I remember who were young and vibrant...but, like me, their age is beginning to show and we are now those older folks that we used to see and never thought we'd be. Each day now, I find that just getting a shower is a real target for the day! And taking a nap is not a treat anymore...it's mandatory! Cause if I don't on my own free will...I just fall asleep where I sit!

Never Stop Loving

And so...now I enter into this new season of my life unprepared for all the aches and pains and the loss of strength and ability to go and do things that I wish I had done but never did! But, at least I know, that though the winter has come, and I'm not sure how long it will last...this I know, that when it's over on this earth...it's over. A new adventure will begin!

Yes, I have regrets. There are things I wish I hadn't done...things I should have done, but indeed, there are many things I'm happy to have done. It's all in a lifetime.

So, if you're not in your winter yet...let me remind you, that it will be here faster than you think. So, whatever you would like to accomplish in your life please do it quickly!  Don't put things off too long! Life goes by quickly. So, do what you can today, as you can never be sure whether this is your winter or not! You have no promise that you will see all the seasons of your life...So, live for today and say all the things that you want your loved ones to remember...and hope that they appreciate and love you for all the things that you have done for them in all the years past!!!

"Life" is a gift to you. The way you live your life is your gift to those who come after. Make it a fantastic one. Live it well! Enjoy today! Do something fun! Be happy! Have a great day. Remember "It is health that is real wealth and not pieces of gold and silver".

Live happy in 2014! Lastly, consider the following: Today is the oldest you've ever been, yet the youngest you'll ever be. So - enjoy this day while it lasts. ~Your kids are becoming you... but your grandchildren are perfect! ~Going out is good...Coming home is better! ~You forget names...But it's OK because other people forgot they even knew you!!! ~

You realize you're never going to be really good at anything...especially golf. ~The things you used to care to do, you no longer care to do, but you really do care that you don't care to do them anymore. ~You sleep better on a lounge chair with the TV blaring than in bed. It's called "pre-sleep". ~

You miss the days when everything worked with just an "ON" and "OFF" switch.. ~You tend to use more 4 letter words ... "what?"..."when?"... ??? ~Now that you can afford expensive jewelry, it's not safe to wear it anywhere. ~You notice everything they sell in stores is "sleeveless"?!!! ~What used to be freckles are now liver spots. ~Everybody whispers. ~You have 3 sizes of clothes in your closet...2 of which you will never wear. ~~~

But Old is good in some things: Old Songs, Old movies, and best of all, OLD FRIENDS!! Stay well, "OLD FRIEND!" Send this on to other "Old Friends!" and let them laugh in agreement!!!

It's Not What You Gather, But What You Scatter That Tells What Kind Of Life You Have Lived.

Have the message sank in?

Is Going Bankrupt Becoming a Norm?

It's true as it came from the mouth of the Insolvency Department.

Last year the number of bankrupt Malaysians stood at 16,306 or an average of 1,812 persons per month.

Given the rising cost of living unleashed by drastic subsidy withdrawals in gasoline and sugar in 2013 after the general election and the early January 2014 biting increases in electricity tariff and minimum wages and the looming GST tax juggernaut to be effective in April 2015, one cannot but fear that more bankruptcies will be declared in 2014. Currently, there are already 27,432 bankruptcy petitions in court.

Statistics for 2012 showed that of 19,575 persons declared bankrupt in that year;the distribution were as follows:

Malays-48.4%;
Chinese: 33.2%
Indians: 14.1 %.

Based on age demographics,a shocking 21% or 4,100 persons were below the age of 34 and the causes of their bankruptcy were failure to settle repayments for big ticket items such as car and housing loans and the inability to pay debilitating credit card debts.

An Opposition leader has speculated that for 2013, the number of Malaysian bankruptcies may overflow beyond 20,000.

As such, to avoid this phenomenon, can we emulate some of those dissenters from the European Union who wants the word bankruptcy to be outlawed; to be cosmetically replaced by a more acceptable and politically correct phrase,"debt adjustment"?

As they say, a rose is a rose................

Beyond Reach!

Just Beyond your Grasp

A household is categorically defined as members in a family who share the same rice-pot.

Relating affordability to house purchase, a Sime Darby-Universiti Malaya study discovered that to own a home in selected areas  in the Klang Valley, you must have at least RM14,600 household income (HHI). Their formulaic assessment is based on household spending trends, house prices and mortgage rates.

Bukit Jelutong

For those who intend to purchase houses in such strategic areas, they must ready resources that is 56 X their monthly household income. This same group of potential purchasers must at least have 26% of their income to service mortgage loans.

The study identified these areas as having potential to appreciate and would attract potential buyers.

They ranged from:

Melawati Area: At least RM9,360 HHI (RM3,120 for Mortgage loan (MG)

Nilai Area: At least RM9,430 HHI (RM3,143 MG)

Bukit Subang Area: At least RM9,670 HHI (RM3,223 MG)

North Klang Region: At least RM11,300 HHI (RM3,766 MG)

Putra Heights Area: At least RM12,190 HHi (RM4,063 MG)

Kajang Area: Atleast RM12,300 HHI(RM4,100 MG)

USJ Area: At least RM13,320 HHI (RM4,400 MG)

Klang Valley Region: At least RM14,580 HHI (RM4,860 MG)

Denai Alam Area: At least RM15,160 HHI (RM5,053 MG)

Ara Damansara Area: At least RM15,660 HHI (RM5,220 MG)

Subang Jaya Area: At least RM15,660 HHI (RM5,220 MG)

Bukit Jelutong Area: At least RM17,310 HHI (RM5,770 MG)

Mont Kiara-Duta Hartamas ARea: At least RM20,160 HHI (RM6,720 MG)

So, what is the message that is being sounded through this solitary study; if at all it is to be accepted as credible?

These will be the layman's off the cuff conclusions:

Unless you earn a HHI of at least RM10,000, do not expect to buy any house in these areas or anywhere strategic in the Klang Valley.Even on a joint husband-working wife salary they will be hard-pressed after having to deduct for rentals, car loans and sundry overheads such as EPF deductions, SOCSO and the household budget. If you have children, it could be much worse as you may have to pay towards childcare, school bus-fares, insurance and tuition.

Sadly, you are unlikely to buy any low to medium cost houses as you are the middle income group caught in a pincer trap as tax payers sans any help from the authorities. So, you may have to pay taxes with little return from the government. Feeling sad and abandoned, already?

If prices of houses in these identified areas continue to rise 5% per annum, forget about ever buying them. Just rent them as these highly capitalised houses need not fetch high rentals. Sometimes commuting from a faraway place such as Seremban is marginally cheaper but you will inadvertently have to pay the toll in body and mental health besides putting yourself and your vehicle under severe stress. Rent near to your place of work or the schools your children attend. It's a much safer bet!

As Malaysia is now in the tingling throes of high inflation, you may want to buy into some land in your kampungs; with the hope that they will appreciate in time and you can protect the value of the cash ringgit (which is slipping southwards) in a more permanent mode. Or even buy some foreign currencies to ward off the diminishing value of your ringgits.

Do find out also if you are eligible for those government sponsored schemes which are highly subsidised and those earmarked ones at the old airfield in Sg. Besi and also the ex-RRIM land in Sg. Buluh which is about to be farmed out for development.

Do not be hasty in buying a house which is a big ticket item. Do not be slave to the bank that will tie you up for life. Buy only when you are comfortably ready!