Made In Japan

Japan television makers are in troubled water.

Sony is cutting 10,000 jobs and selling assets after racking up hugh losses selling TVs.

Sharp lost a record US$5.6 billion and said there is “material doubt” about its survival.

 

Panasonic will post a loss of US$9.5 billion and retrenching 36,000 of its workforce.

  

In the 1980s Japan thrashed the US television makers to become the global leader.

Ironically they are now at the mercy of the Koreans, particularly Samsung.

The wheel of fortune is still turning.

The Internet Revolution

Microsoft Sales US$69 billion / Profit US$23 billion

Apple Sales US$63 billion / Profit US$14 billion

Dell Sales US$53 billion / Profit US$1.4 billion

Lenovo Sales US$21 billion / Profit US$358 million

Seagate Sales US$11 billion / Profit US$510 million

Google Sales US$28 billion / Profit US$8 billion

Facebook Sales US$1.8 billion / Profit US$355 million


The internet age has thrown up unbelievable ways to make money without even creating a product. Yahoo, Google, Facebook has made billionaires out of schoolboys without having to hawk a single ware.

The Rise of South Korea

1238, Mongolia invades
1592, Japan invades
1910, annexed by Japan
1950, the Korean War broke out
1961, a military coup toppled the civilian government
1980, a military coup seized power
1992, election ushered in a new era of civilian rule




World War II, Japan attempted to exterminate Korea as a nation.
Worshipping at Japanese shrines was made compulsory.
The Korean language was banned and Koreans were forced to adopt Japanese names.
Tens of thousands of men were conscripted into Japan's military.



Today Samsung is the world's largest conglomerate with US$180 billion revenue.



Hyundai has US$110 billion.

LG has US$105 billion.

SK has US$80 billion.


And it was only 50 years ago South Korea became one of the poorest countries in Asia. Its infrastructure and resources were severely depleted during the Japanese occupation and the Korean War. A U.S. Army General who took part in the war said, "This country will never be able to recover from this, even in 100 years."

Charge It !

Zap It. Max It.

The battle cry of urban shoppers can be heard all over the developed countries.



Bad debts written off by banks for credit cards in Singapore went up from about $115.4 million in 2008 to $183.9 million last year.



This is the numbers of card holders globally.

Australia: 16 million
Brazil: 191 million
China: 199 million
Canada: 72 million
France: 34 million
Germany: 4 million
Hong Kong: 14.7 million
Israel: 6 million
India: 24 million
Indonesia: 10 million
Japan: 346 million
Philippines" 8 million
Saudi Arabia: 3 million
Singapore: 1.2 million
South Korea: 96 million
Spain: 18 million
Thailand: 14 million
USA: 686 million
Vietnam: 2 million

The Concerts

The Singapore economy seems sizzling hot, many big ticket concerts heading this way.

Tsai Chin 2010 The Endless Love, Once More
11 Sep 2010 at 8pm
Resorts World Convention Centre Compass Ballroom
Tickets S$168, S$138, S$108, S$78

CoCo Lee East2West World Tour
2 October 2010 8pm
Singapore Indoor Stadium
Ticket S$178, S$148, S$118, S$88

Rainie Yang World Tour 2010
16 Oct 2010 Sat, 8.00pm
Singapore Indoor Stadium
Ticket S$178, S$148, S$118, S$88, S$38

Fong Fei Fei World Tour 2010
23 Oct 2010 Sat, 8:00PM
Singapore Indoor Stadium
Ticket S$178, S$148, S$118, S$88, S$38

“2010 Wang Jie World Tour . Singapore”
23 October 2010, 7.30pm
The MAX Pavilion @ Singapore Expo
Ticket S$158, S$138, S$108, S$78

Sammi Cheng Love Mi World Tour - Singapore
6 November 2010 8pm
Venue: Singapore Indoor Stadium
Ticket S$178, S$158, S$138, S$118, S$88

Rene [One Night in Singapore] Concert
27 Nov 2010 Sat, 8pm
Singapore Indoor Stadium
Ticket S$158, S$138, S$108, S$88

Economy Watch

Non Oil Domestic Export - Year on Year

-20.8 percent in December 2008 - S$10.47 billion
-34.8 percent in January 2009 - S$10.04 billion
-23.8 percent in February 2009 - S$12.87 billion
-17.3 percent in March 2009 - S$11.88 billion
-19.2 per cent in April 2009 - S$11.32 billion
-12.1 per cent in May 2009 - S$10.94 billion
-11.0 per cent in June 2009 - S$11.38 billion
- 8.5 per cent in July 2009 - S$12.08 billion
- 7.1 per cent in August 2009 - S$12.1 billion
- 7.2 per cent in September 2009 - S$12.81 billion
- 6.1 per cent in October 2009 - S$12.50 billion
+8.7 per cent in November 2009 - S$13.1 billion
+26.1 per cent in December 2009 - S$13.2 billion
+20.8 per cent in January 2010 - S$12.04 billion

Economy Watch

NODX 2009 - Year on Year
-20.8 percent in December 2008 - S$10.47 billion
-34.8 percent in January 2009 - S$10.04 billion
-23.8 percent in February 2009 - S$12.87 billion
-17.3 percent in March 2009 - S$11.88 billion
-19.2 per cent in April 2009 - S$11.32 billion
-12.1 per cent in May 2009 - S$10.94 billion
-11.0 per cent in June 2009 - S$11.38 billion
- 8.5 per cent in July 2009 - S$12.08 billion
- 7.1 per cent in August 2009 - S$12.1 billion
- 7.2 per cent in September 2009 - S$12.81 billion
- 6.1 per cent in October 2009 - S$12.50 billion
+8.7 per cent in November 2009 - S$13.1 billion
+26.1 per cent in December 2009 - S$13.2 billion

That's Life, Get Over It

Some countries are born lucky. They have "money" oozing out of the ground.

Australia produced 40% of the western world's mining production output and has emerged as the world's major alumina producer.

Botswana is the world's leading producer of diamonds. The diamond industry accounts for 70% of export earnings and 30% of Botswana's GDP.

Indonesia is the world’s largest tin producer, followed by Peru and Brazil.

silver

South Africa used to be the world's largest gold producer, but China has surpassed it to become the largest gold producer since 2007.

South Africa is the largest producer of platinum in the world.

Mexico is the largest silver producer in the world.

platinum

Saudi Arabia is the world's biggest oil producer with a daily output of 10 millions barrels. Russia and the USA trail with output of 9 million bpd and 8 million bpd respectively.

And what do Singapore got? The country, a land area of 660 sq km, can only mine the pockets of the population of 4 million. Well, life is never fair and nothing is created equal.

Bad Times

Where are the advertisements ?




There used to be adverts on most trains...




Has the poor economic climate affect the advertising dollars ?

Economy Watch

Non Oil Domestic Export rose for the first time in 19 months as pharmaceutical shipments surged 78% and exports to major markets increased.





NODX 2009 - Year on Year
-20.8 percent in December 2008 - S$10.47 billion
-34.8 percent in January 2009 - S$10.04 billion
-23.8 percent in February 2009 - S$12.87 billion
-17.3 percent in March 2009 - S$11.88 billion
-19.2 per cent in April 2009 - S$11.32 billion
-12.1 per cent in May 2009 - S$10.94 billion
-11.0 per cent in June 2009 - S$11.38 billion
- 8.5 per cent in July 2009 - S$12.08 billion
- 7.1 per cent in August 2009 - S$12.1 billion
- 7.2 per cent in September 2009 - S$12.81 billion
- 6.1 per cent in October 2009 - S$12.50 billion
+8.7 per cent in November 2009 - S$13.1 billion

Up North, Charge !

Gold price is going crazy in tandem with other crazy events. Who would have thought oil rich state of Dubai would run out of money to meet debt obligations ?

Today gold price is US$1,220.00 an ounce.
One ounce is 28.35 grams.
Work out to US$43.00 per gram or $60.00 in our currency.

Is people hoarding the sought after precious metal? Ready for the coming 2012 Armeggedon ? What use has gold or money for the "end-of-the world" situation?

As aptly described "No matter where you live, no matter whom you believe you are about the face the END"

Economy Watch

Singapore's key exports fell for the 18th consecutive month in October as demand from crucial markets including the US and European Union continued to decline.

NODX 2009 - Year on Year
-20.8 percent in December 2008 - S$10.47 billion
-34.8 percent in January 2009 - S$10.04 billion
-23.8 percent in February 2009 - S$12.87 billion
-17.3 percent in March 2009 - S$11.88 billion
-19.2 per cent in April 2009 - S$11.32 billion
-12.1 per cent in May 2009 - S$10.94 billion
-11.0 per cent in June 2009 - S$11.38 billion
- 8.5 per cent in July 2009 - S$12.08 billion
- 7.1 per cent in August 2009 - S$12.1 billion
- 7.2 per cent in September 2009 - $12.81 billion
- 6.1 per cent in October 2009 - $12.50 billion

Economy Watch

Singapore's key exports fell for the 17th consecutive month in September as demand from crucial markets including the US and European Union continued to decline.

NODX 2009 - Year on Year
-20.8 percent in December 2008 - S$10.47 billion
-34.8 percent in January 2009 - S$10.04 billion
-23.8 percent in February 2009 - S$12.87 billion
-17.3 percent in March 2009 - S$11.88 billion
-19.2 per cent in April 2009 - S$11.32 billion
-12.1 per cent in May 2009 - S$10.94 billion
-11.0 per cent in June 2009 - S$11.38 billion
- 8.5 per cent in July 2009 - S$12.08 billion
- 7.1 per cent in August 2009 - S$12.1 billion
- 7.2 per cent in September 2009 - $12.81 billion

A Timely Reminder

Retrenchments are now so common that salaried people are living day to day, not knowing what tomorrow bring.


So this mobile message bring a stark reminder.



Simply translated - if you don't work hard today, you will be working hard looking for a new job tomorrow.

Economy Watch

Non Oil Domestic Export.

NODX 2009 - Year on Year
-20.8 percent in December 2008 - S$10.47 billion
-34.8 percent in January 2009 - S$10.04 billion
-23.8 percent in February 2009 - S$12.87 billion
-17.3 percent in March 2009 - S$11.88 billion
-19.2 per cent in April 2009 - S$11.32 billion
-12.1 per cent in May 2009 - S$10.94 billion
-11.0 per cent in June 2009 - S$11.38 billion
- 8.5 per cent in July 2009 - S$12.08 billion
- 7.1 per cent in August 2009 - S$12.1 billion

To date this is the 16th straight month of decline of export, an indicator for economic activity, since manufacturing for export makes up a substantial chunk of the economy.
The shrinkage look like slowing down though.

This report may indicates that recovery is anywhere near.

Upturn or Downturn

The recently concluded PC Show 2009 saw record visitors spending $52 millions during the 4 days event.
Pop concerts see good ticket sales, despite four shows lined up by Asia mega stars.
Restaurants with long queues are a common sight islandwide.
Car sales are up alongside increased COE prices.
Stock market is bullish. Property is on the rebound.

All this despite worrying reports of shrinking export, and fresh predictions that the USA will again be hit with another banking crisis.

Ships @ Singapore

NODX 2009 - Yr on Yr
-20.8 percent in December 2008 - S$10.47 billion
-34.8 percent in January 2009 - S$10.04 billion
-23.8 percent in February 2009 - S$12.87 billion
-17.3 percent in March 2009 - S$11.88 billion
-19.2 per cent in April 2009 - S$11.32 billion
-12.1 per cent in May 2009 - S$10.94 billion
-11.0 per cent in June 2009 - S$11.38 billion

Aerial view - landing @Changi

Economic Forecast

Gerald Celente, founder of the Trends Research Institute and predicted the 2008 crisis, shared his thoughts:










In The United States 72% of our GDP is consumer based , it's unsustainable and it's insane , you cannot consume 72% more than you produce , what we are going to see is a rush of bankruptcies and more and more vacancies both in the retail sector and in the business sector , so all these office buildings that were built at the big boom from about 2001 to 2007 they're going to remain vacant " said Gerald Celente "United States of America is over stored , the commercial real estate sector is going to collapse " now they are bailing out the commercial real estate , and hence creating another bubble that we call the bailout bubble , first we had the dot com bubble instead of letting it burst they created another bubble the Real Estate bubble by lowering interests rates to 46 years lows , now the real estate bubble burst , rather than letting that burst now they are creating the bailout bubble they have 13 trillion dollars worth of tax payers money to bailout everybody.

Wall Street

The federal reserve is behind the reasons that created the crisis in the first place . The Federal Reserve is a private company and is not more federal than the Federal Express , these are the people who created the problems . The FED by lowering interest rates created the problem and now they are creating the bailout bubble which is even bigger than the Dot Com bubble the real estate bubble , they continue printing phantom money out of thin air backed by nothing and producing nothing...it is not about being optimistic or pessimistic it is about being realistic ...


Harry S. Dent Jr, is the Founder of HS Dent Investment Management,
is predicting the world economy will face a crisis in the next two years even bigger than the current downturn.
"We're in the middle of a bear market rally," Dent told the Australian Broadcasting Corporation. He said share markets were likely to continue to gain in the next few months but would fall again towards the end of the year as the global banking system suffered another meltdown, bottoming out in 2011.

When Will it End ?

The severe economic depression has gone on long enough. Many who lost their jobs may or may not have found alternative employment, while the lucky ones are clinging to theirs, albeit unsure of the future.

According to a survey, 61 per cent of Singaporean respondents still go to work when they are sick because they are scared of falling behind on their work; the highest rates of 6,000 polled across 20 countries including the United States and Japan.
52 per cent of Singaporeans fear that too many sick days could go against them, while 50 per cent did not want to be perceived by superiors and peers as not working, the highest rates among those surveyed.

Ships anchored in Singapore waters

Things are so bad that many ships flocked to Singapore to anchor because it has few storms. Many vessels were staying just outside the port’s limits, where they do not have to pay port fees.

Singapore has complained to the countries of registry about 10 to 15 ships that have anchored in sea lanes in violation of international rules in the last two weeks.
A freighter close to Singapore was hit last December by a chemical tanker that could not make a tight enough turn in a crowded anchorage; neither vessel was seriously damaged.

Port Cranes

April containers volumn fell to 2.09 million TEUs, (twenty foot equivalent unit) down from 2.19 million TEUs in March and 2.53 million TEUs in April 2008.

Jurong Port saw steady volumes handled at 56,000 TEUs in April. Year-on-year, however, throughput plunged by 32.5% from 83,000 TEUs handled in April 2008.

Ships are not the only casualty. Aircrafts too are not spared. Idle planes are parked at USA desert storage yards. How long is anyone's guess.

Planes Storage, California

No End In Sight

The US economy is still getting worse, even as Washington's policy makers scramble to find the formula that will revitalize credit markets and consumer spending - Apr 09

Federal Reserve Bank President Janet Yellen says the US has entered its sixth quarter of recession, with no end on the immediate horizon - Apr 09

A new wave of foreclosures could hit the house market if the US economy remains mired in a recession, said Cynthia Kroll, senior regional economist - Apr 09

The PSA cranes in the distance

Such grim forecast and yet there are queues to buy overpriced HDB flats and private condos.
Perhaps these buyers know something I don't. Anyway I will stick to the trusted barometer, the PSA cranes. They don't lie.