Europe's financial crisis

In Singapore, there seems to be less financial news about Europe than US. Most stuff recently is about the 'nationalization' of Citigroup and whether the government should fully nationalize it. Many bloggers (here and here as example) talk about GIC's converting of preferred stocks in Citigroup into common stocks and perhaps the impending doom of the investments. It seems like our national reserves are just shrinking day by day. More detailed analysis are provided by Lucky Tan. 

While all the storm seems to be brewing in the US, I will just like to make aware that there is a bigger problem in Europe. 

Banks in US are too big to fail. Banks in Europe are too big to save. The video below talks about how the crisis is in some sense bigger in Europe than in US. Good luck to the ECB to try and solve the crisis. Eastern Europe is going down. Western Europe may follow soon.

Excerpts from an article in Telegraph: Failure to save East Europe will lead to world-wide meltdown

In Poland, 60pc of mortgages are in Swiss francs. The zloty has just halved against the franc. Hungary, the Balkans, the Baltics, and Ukraine are all suffering variants of this story. As an act of collective folly – by lenders and borrowers – it matches America's sub-prime debacle. There is a crucial difference, however. European banks are on the hook for both. US banks are not.

Whether it takes months, or just weeks, the world is going to discover that Europe's financial system is sunk, and that there is no EU Federal Reserve yet ready to act as a lender of last resort or to flood the markets with emergency stimulus.

If one spark jumps across the eurozone line, we will have global systemic crisis within days. Are the firemen ready?

The answer is no.

Fish with a transparent head?

Macropinna microstoma. A fish with a transparent head, found somewhere in the deep sea. Is this for real?

Doomsayer

The more I look at it, the more I think the heart attack has not started for the global economy. Enjoy while you can. Is there anywhere to run and hide? The crisis will soon spread from America to Europe and Middle East(It has already started actually). Then Asia will get infected. It will be a vicious cycle until everyone is in dispair and we have a emergence of a New world economy model. Is this the end of capitalism? 

Who is everyone pinning their hope on to save the world? What can Obama do with his country in great decline, every other big corporation is asking for help every now and then? The European Union is not much better off, internal squabblings and the demise of Eastern European economies will more than occupy the EU. Russia and the Middle East can't do anything while oil prices are so low. How about India, only be hopeful if you think everyone can be like the Slumdog Millionaire. Japan has yet to recover from the previous recessions. China? They can't even solve their own domestic problems and you expect them to save the world? At the moment, it is more likely that we have a few more Icelands and Zimbabwes than.. (Is there anywhere that is unaffected by the crisis, some remote Pacific Island or upcoming African economy?)

bbqchickenwings hate to say it but... Is this gonna be worse than the Great Depression? No astute leader will admit this for this will lead to fear-mongering but is it playing on some of their minds?

The world is going to collapse. Help help, the sky is falling!

Can Poly students finally be the equal of JC students?

Update

Lower fares are coming 1st April. But as expected the poly students did not get what they are clamouring for. No equal to JC and ITE students. I hope Bernard (organizer of the petition) live to fight another day. 

_______________________________________________________

The Public Transport Council (PTC) is going to decide on new fares soon, as reported today. Hopefully there will be reduction in fares in light of the worsening economic conditions. More interestingly to look out for is whether polytechnic students will finally get what they deserve: same bus and train fares and concessions as JC students. 

The topic of whether Polytechnic students should enjoy the same concessions as Junior College students has been revisited many times. Over the years, it has been a ritual for someone to raise the concern in the forums of newspapers and every time the answer given by SMRT and SBS is always the same, i.e. Any concession given to the students will cause additional burden to commuters paying the full fare as they are effectively subsidizing the existing concessions. Its such a templated standard answer that bbqchickenwings can memorize it. I think some people can even reproduce the excuse given by the transport companies word-for-word. 

Recently, a group championing the cause is finally making some headway. The student activist group actually managed to meet representatives from PTC, TransitLink, SMRT and SBS. We will know soon whether the students are successful in convincing the representatives regarding the concerns or whether its just a left-ear-in, right-ear-out thing. 

Students are not the only ones supporting the cause. bbqchickenwings has previously quietly supported and now officially endorse via this blog (added the logo on the right column of the blog) the petition for Fairer Transport Fares for Polytechnic/Tertiary students. Even their teachers are getting into the act, writing to the forums. Article from Today, 18 February.

Letter from Chen Khin Wee 

Academic Associate, Republic Polytechnic 

I FOUND Transport Minister Raymond Lim’s remark in “Households spend less in 2008” (Feb 13), that “some polytechnic students are better off than others”, rather mystifying. Does this fact not apply to junior college (JC) students as well? Is he saying that all polytechnic students are well off and all JC students needy and therefore need the student concession more than their polytechnic counterparts?

I teach at a polytechnic and I can say for sure that my students are not rolling in money. I estimate that at least half of the students in my classes have to work part-time after school and during weekends to make ends meet. When I join them for meals I can see how carefully some of them choose the food they buy to conserve their limited pocket money.

While I am very proud of their self-reliance and financial independence, I am sure this extra-curricular activity alsoaffects their school work. 

There are about 20 JCs in Singapore but only five polytechnics. Unlike JC students, who have a greater chance of enrolling in a school near their home, the average polytechnic student has to travel some distance to attend classes.

Some of my students travel an average of three hours a day, often taking a complex “combination” of bus, MRT, and walking — students proudly refer to this as their B-M-W — just to get to school and home. This adds up to considerable travelling time and expenses.

Before writing this, I checked with some of my students to see how many benefited from the “targeted assistance” that the minister referred to. They looked back at me blankly and asked “What’s that?”

If the minister’s argument holds, then concession for JC students should be removed as well, and the real needy ones identified and given assistance. Many polytechnic students could use reduced rates.

Pretty cool huh. BMW. bbqchickenwings previously never knew he had been using a BMW for the last 20+ years of his life. (Is this a generation gap thing? Gosh, bbqchickenwings is out of touch) The writer made poly students sound so rich. Their schoolwork is slack enough for them to go out and work part time and they all have BMWs. Look at JC students, every day need to mug and become the elite of the elite, 人中之龙. Where can the JC students find the time to do part-time? So they need concessions even more eh?

So will the polytechinic students finally get some concessions?

The answer is NO. In Singapore you do not go up to a statutory board or government-linked company, tell them you want some changes to be made and expect them to follow suit. If the PTC and transport companies follow suit, its a lose-lose-lose situation for them. They lose the extra revenue from the poly students, they lose their standing on a higher platform by seemingly succumbing to an activist group and most importantly, they (i.e. including the government) will look like they lose the authority over the citizenry. 

Potential hell will break lose. The government will be worried that this will set a precedent for people to have petitions and activist causes of all kinds. More students may start petitions. (Historically, students always leads revolutions as they have too much time on their hands. Adults are too busy working and trying to feed their families, don't you agree?) The organizers of the petitions will be seen as heroes, like a certain Chee Soon Juan. The government has enough trouble with one CSJ. They do not need many more CSJ-wannabes asking people to sign petitions of all kinds. 

Petitions cannot be seen as a force for change in the government system. That is why bbqchickenwings is skeptical that polytechnic students will get what they want this time round, especially as the petition group had just met men from the PTC and transport companies. 

So what can be done. The petition group has already done their part. They have been heard. Now is the time to loosen the noose. Let the petition lose some steam and if the transport operators think it is justifiable, they will eventually give concessions to poly students. 

bbqchickenwings will be more than glad to eat his words and stuff chicken wings into his mouth if proven otherwise the next few days. 

Blogger Stabbed in Beijing

My condolence to Mr. Xu Lai, a famous Chinese blogger, who was stabbed while giving a public reading in a bookshop in Beijing. Mr Xu Lai is popular for satirical writings about government policies and the likes.

bbqchickenwings does not condonce violence of any form (unless its a frag shootout in Combat Arms, a FPS online game). There is no place for harming people anywhere and the perpetuator has to be punished heavily in accordance with Chinese laws.

Lessons to be learnt

• It is good to hide under a pseudonym, even a weird one like bbqchickenwings. Get a nice looking avatar. You never know who don't like your writings and have intentions of making their feelings known via violent methods given the openess of the Internet.
• Don't give public appearances. Don't be a hero especially when your writings are not favoured by the government or other people.
• Hire bodyguards for loan if you really need to make public appearances. Now, where is my Lara Croft?
• Give your user id and password to someone close. They can make an announcement on your blog to tell everyone you got hurt/kidnapped/arrested and you need some urgent blood donation/ransom fee/public demonstration to get you released. 

The above only applies if you are some big-time bloggers hitting 5000 views a day or more. bbqchickenwings is happy to remain small and be able to go buy some chicken wings without wearing a Kevlar bullet-proof vest.

Ramblings after overdosage of chicken wings

Today I wrote a travel guide in Singapore for my prof, who has one day to do shopping there. I finished it quickly in 1 hour. Then I realised something. It is much longer and more detailed than any report I sent him before. 

I have surpassed all my previous works with one hour of writing. Talk about efficiency. 

I was thinking of asking him to buy some local delights for my colleagues here. They didn't like the durian cakes I bought, luckily I had some other stuff to compensate. I want to get them something else this time, but I cant think of any that is easy to find in the supermarkets or malls and can withstand flights totalling 16 hours. Anyone has ideas?

10 preparations to a successful nursing home industry in JB

Khaw Boon Wan's proposal to build nursing homes in Malaysia made him the hottest minister in town, many Singaporeans are repulsive by the idea judging by the vigorous posting and commenting in various blogs. bbqchickenwings also feels it hard to accept staying in a foreign land after spending a lifetime in the little red dot. bbqchickenwings thinks Minister Khaw can get more Singaporeans to accept this eventuality by doing the following. Minister Khaw, please consider the following suggestions. 

1. Replace the Jobs Credit Scheme with a Sell Ship-your-parents Scheme (SYPS). Children who volunteer to ship their parents away gets a one time fee of $3000, this only applies to the lower income households with monthly income below $1500. This RRS is a win-win situation for both the government and the people. We can save on the subsidy for healthcare costs to low-income households, and at the same time give lower-income groups some financial help. 
   
2. Introduce another Relocation Assistance Plan(RAP). Elderly folks, above 55 or certified unfit to work, can volunteer to move out of the country into JB and get a one-time payment of $500 and a subsequent $250 per month. This is another win-win since it is a cheaper scheme than the $330 Public Assistance, and yet the elderly feels richer with more spending power. 
   
3. Allow withdrawal of CPF for nursing home residents. For those elderly who like to spend more money, they can withdraw their CPF which is otherwise untouchable for them. They can remain as Singaporeans and yet withdraw their CPF. But of course we cannot let the elderly anyhow use the money, its their hard-earned savings. bbqchickenwings havent thought of a way to transfer the money from the left to the right pocket, so that Mr Khaw don't feel the pinch. Readers, please contribute.  
4. Kopi-Money Rebate Scheme. (KPRS) Hi Mr Khaw, sorry that the measures up till now all talk about money. It is a trickle-down effect from the government's obsession with making money. In KPRS, Singaporeans can apply for a full rebate of Kopi-Money given when dealing with corrupted immigration officials and policeman from the other side of the Causeway. Of couse, issues such as how to prove the amount of kopi-money given has to be ironed out. 
5. Speaking of the causeway, it is too congested for people to want to go visit their parents frequently. We need a new bridge to ease congestion. This bridge will only be for people who intend to go to the nursing homes. Drivers will have to provide evidence they did reach the nursing homes by signing in and out the homes. They can go wherever they want but must return on the same day. To provide further incentive, the 3/4 tank rule for cars can be abolished for this bridge. 
6. Launch a huge PR offensive. Get international superstars like Jackie Chan to visit the nursing homes and talk about all the great things to do inside. Better still, ask him to commit to stay in the home when he retires. People may jump at the chance to stay with stars like Jackie, boasting: I am staying under the same roof with Jackie Chan and practising kung fu with him everyday. 
7. Request Mediacorp to produce a serial drama on life in JB from the early 1900s to the 2000s. It must include the big casts like Qi Yuwu, Fann Wong and the 7 princesses to ensure high viewer ratings. The drama can be modeled after the Little Nyonya. People may feel less repulsive if the nursing home is in Malacca since they can enjoy the Peranakan culture and all the goody food like Rembah Udang. This is all due to the good effort of Little Nyonya. But the problem is that children will have to travel too far to visit the parents. Commision Mediacorp to produce another drama on JB with the focus on delightful JB food. The most important reason why Singaporeans can accept a nursing home in JB will be because of better food there. 
8. Launch a 'Speak Bahasa Melayu' Campaign. Singaporeans are worried of moving to the nursing home since we don't know the national language in Malaysia. Have a 5 minute segment after the daily news broadcast where a pretty lady will teach everyone a little Malay everyday. The peasants will feel calmer when they know they can understand their landlords. 
9. Control the news we are getting on mainstream media about Johor, actually maybe even Malaysia as a whole. It is not pleasant hearing for Singaporeans to know that they have to stay in Malaysia when they are old when we get news on the same day such as SBS bus driver getting slashed in JB. Even though security is not very safe there, people can be made to feel safer by not hearing and seeing anything at all. 
10. How about the entertainment? We need a mini integrated-resort. The old folks need a way to spend their time and what better than gambling? Its' in the genes (refer to my previous posting). Oh, don't forget building the Singapore Pools outlet. 

There you have it Mr Khaw. It hurts to know that Singaporeans have to move to nursing homes away from our beloved island but you can make it much less painful. You don't have to thank me, just make sure I have my chicken wings every other meal during my stay there. 

Singapore boasts another Number 1

This post is mainly inspired by nofear's (Dr Huang Shoou Chyuan) posting and comments that followed. 

Chinese people loves gambling. Every Chinese knows that. bbqchickenwings used to gamble too. And during Chinese New Year, other than visiting relatives, it also became a time for Chinese to indulge in gambling which is 'permitted' during the 1st 15 days. Long queues are common in Singapore Pools outlets, especially on Wednesday, Saturday and Sunday. Some people have no qualms throwing hundreds or thousands of dollars betting with bookies Singapore Pools on football. But everyone has to know a limit, especially with our 2 integrated resorts coming up. We don't want people going to the casinos thinking they can earn a fortune. Unfortunately, Ho Ching went over the limit. 

It is reported that Temasek Holdings has lost a whooping S$58 BILLION from Apr 2008 to Nov 2008. The losses will probably be even more as they might have taken into accounts gains from selling our power companies for a combined $18.2 billion and a fund injection by MOF of $10 billion. Without disputing whether the losses are greater, lets proudly announce Ho Ching as number ONE. The number 1 person in the world to lose money at such a rapid rate. 

Last time when she was CEO of Singapore Technologies, she took a bet and lost about $630 million in Micropolis in almost 2 years. That equates to about $1 million a day. The signs of her talent were already emerging. Even then, Dhanabalan defended her in IHT's article titled -  Temasek's Chief, Ho Ching, likes to take risks:

Dhanabalan even referred to ST's purchase of disk drive maker Micropolis, which was liquidated soon afterwards with debts of 630 million Singapore dollars, saying Ho had had the courage to cut the losses.

Now as CEO soon-to-be-ex CEO of Temasek Holdings, her achievements were even better. 58 billion in 8 months. That equates to about $240 million a day, a 240 fold improvement. Surely she can lay claim to be number 1 in the world at losing money. (correct me if I am wrong because bbqchickenwings is too lazy to find out) She does not cut losses this time round, but steps down leaving a mess behind once again. 

Some say its not her fault. All due to external factors, extraordinary circumstances. But the fact remains that she is the one who makes the calls and this is public money we are talking about. She took a bet and the bet lost. Only in Uniquely Singapore can someone lose $240 million of public money a day for 8 months and there is no public demonstration. She doesn't have to be answerable for the losses. No public statements from her, no apologies. No apologies needed because no mistakes were made, all these were long-term investments. 

What to do? It has already happened. Let's move on. 

Ho Ching will be stepping down in October. Can we just put her in charge of some small SME? This may just be the boost Singapore's fledging SMEs need. A high-profile personality as their symbol. Singapore cannot afford her to set another new personal best. 

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Update

And why do Chinese like to gamble so much? It is in the genes, according to BBC, based on findings by researchers in Northwestern University. 

Excerpts: The Northwestern University team found two genes that regulate the hormones dopamine and serotonin could predict whether a person would gamble.

Specifically, people with the short serotonin transporter 5-HTTLPR were far more cautious than those with the long version.

Similarly, people with the 7-repeat allele of the dopamine DRD4 gene took more risks than those with other versions of the same gene. 

Take some Chinese and test for the genes! If true, maybe we can't blame Ho Ching after all. 

Help for students!! Cheers for me!!

The Ministry of Education (MOE) is tripling its budget for financial assistance schemes this year, bringing the total to S$34.4 million, up from S$10.7 million last year. From CNA.  

But this is the most important piece of news from the article for bbqchickenwings: From April 1, all university and polytechnic graduates will get a one-year, interest-free break from repaying their tuition fee and study loans. This includes those who are already servicing their debts, and those who will begin repayments before March 31 next year.

This is a god-sent. The upper and middle class may shrug this off but this is really useful for those students that grow up from low-income families. Depending on how this policy works, now I have more money to pay for HDB mortages or service more of the prinicipal loan instead =P. I can try to lift my household out from the 8% who are defaulting on their loans for more than 3 months. 

Scrutinizing the data Leong Sze Hian's style, the article states: A ministry spokesperson said: "In January 2009, there were about 41,290 MOE FAS recipients. This is a slight increase from the January 2008 number of about 39,100 recipients. Needy families can apply for the MOE FAS at any time of the year. Thus, we expect the 2009 figure to increase further."

41,290 students under financial scheme is a big number. What is the percentage of children that are receiving such aid. Seems like a lot. The following might give us a clue.

All schools will also get a one-time S$10,000 grant to use at their discretion. This is welcome news to Townsville Primary, which has seen 140 students seeking financial help this year - up from 80 a year ago - some of whom do not meet the criteria for MOE's current help schemes.

Townsville Primary currently has a student population of 1632(according to Wikipedia). So if 140 needs help, that is 8.5% of the school-going population.  Add those who fall through the net and those who do not know of such help or where to get them, easily more than 10% of school-going children need financial aid. 

Looking further, parents will try to provide the best for their children. So if these children are already struggling, how good can the family live? Living from paycheque to paycheque with hardly any savings. One good question to ponder about, if everyone lost their jobs, how many can survive for more than one month without any assistance? 

So should Singapore adopt a welfare state policy with benefits for the unemployed and the elderly? bbqchickenwings think not, it is not a suitable policy for Singapore. But the people must be educated on how to take care of themselves and the importance of good financial planning, saving for a rainy day etc. Too many people are left struggling at the moment and falling through the loop... Oh no, bbqchickenwings' thoughts are drifting out. The post is getting messy. Stop for now. Darn, cant even put whats in the mind into simple coherent sentences. Time to eat some chicken. 

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Update

There is a slight confusion, at least on my part. In today's TODAY (i.e. Wednesday), there is an article titled: And NUS sends a note of reassurance

The article states that MOE will defer tuition fee payments for a year, benefiting about 20000 university and polytechnic students. But it then continues with this "But not all students take up government loans — some may have borrowed from banks, or from their parents' Central Provident Fund accounts, for example."

This makes it sound like those on bank or CPF loans are not eligible for the deferment. I have emailed the journalist regarding this and will post another update once more info is available. 

Are you suffering from socio-political blogs' addiction?

This quiz helps determine whether you have been indulging too much time in social politics and not doing enough work. 

Section I: Short Answer Questions

See if you can identify who made these quotes.

• please, get out of my elite uncaring face.
• If there are no wars or oil crises, this golden period can stretch out over many years.
  
• Change has to take place in Singapore but change must take place not (between parties) but within the PAP.
  
• They (residents) should thank the Town Council for working hard to come up with a diversified portfolio to generate income so that residents do not have to fork out more money.
  
• How much do you want? Do you want three meals in a hawker centre, food court or restaurant?
  
• Maybe it made lesser mortals envious and they thought maybe he was a little bit boastful. (Bonus question: who is the 'he' in this quote)
  
• So, in Hougang, you have to be creative to be an effective opposition. Amongst the things you can do, I suggest you study the annual accounts of the town council to ensure that the funds are properly used. Check whether the arrears for S & C charges are piling up, and eating into their reserves. Make sure that enough money is put aside for cyclical maintenance. In your walkabouts, check on the estate maintenance… In short, play the role of an effective opposition in Hougang.
  

Identify the following bloggers

1. Usually starts his post with a picture of relevance or with a hidden meaning. Uses a cat as his avatar. Works in a investment bank.
   
2. Another one with a cat as an avatar. Likes to put whole articles and then add comments regarding each sentence in red. Has a split personality called Lee See Nao.
   
3. Short and sweet posts, updated every morning. Used to have nice Orchids as pictures but currently there is a Chingay special.
   
4. Posts are full of vulgarities. Thought to have retired but recently made a comeback. Recently joined Twitter.
   
5. Hosts a weekly podcast. He likes to ride a bicycle and used to be a columnist with a mainstream newspaper.
   
6. Avatar is a funny mask. Uses satire to great effects in his posts. Being together with him might win you some 4D or Toto.
   
7. Investigative blogger who is often quoted on mainstream newspapers. Posts are well researched and footnotes given at the bottom of the posts. 
   

Section II: Yes/No questions

1. Besides knowing the bloggers in Section I, do you also know who frequently makes comments in their various blogs?
2. Do you set The Online Citizen or Singapore Enquirer as homepage in your Internet browser?
   
3. Do you stop work at 12 p.m not because you want to go for lunch but because its time to check Singapore Daily for their daily updates?
4. And then do you read every single post that they aggregated?
5. And you feel bored during the weekends because blog posts do not seem to be as frequent and the editors of Singapore Daily do not update on weekends. 
6. Do you think that all mainstream media is crap?
7. Do you feel depressed on a day when no government official makes a goof, silly quote or there is no government policy worth criticizing about?
8. Do you know the blogger whose abbreviated nickname is KTM?
9. Do you put all your favourite blogs on an RSS feed or Google Reader and refresh at least once every hour to catch the latest postings?
10. Do you know who are the Chua sisters?
11. Can you name another 15 socio-political bloggers other than the ones in this quiz?
12. You do not know who East Coast Life is 2 weeks ago but you do now?
13. Do you rather get an autograph from Mr. Wang and molly than from Brad Pitt and Angelina Jolie?
14. Do you spend time pondering how these bloggers look like IRL? (in real life)

____________________________________________________

End of quiz. Too tired to think of anymore and its starting to get not so fun anyway. If you can answer the questions in section I and reply yes to those in section II, I suggest you get a life, you have the signs of over-addiction to socio-political blogs. I am not a doctor, only a chickenwing man so I cant help much. My advice: Try not visiting any socio-political sites for 3 days, go watch a movie or something. The curious case of Benjamin Button is worth a watch.

Even Ho Ching is joining the unemployed

Times are really bad when even Ho Ching, the 3rd most powerful women in Forbes' 100 most powerful women list is becoming unemployed come this October. 

Her post as CEO of Lee Holdings Temasek Holdings will be taken by Charles 'Chip' Goodyear. Her past achievements include assisting the demise of Thaksin Shinawatra with Temasek Holdings' purchase of Shin Corp, spectacular collapse of Micropolis, fallout of ABC Learnings and the bigger-than-budget, now smaller-than-peanuts, purchases of stakes in Merril Lynch, Barclays, Bank of China etc. Indeed, her wide-ranging talents and experiences will qualify her to be part of the A-team for the PAP in the next general elections. Some even want her to be our next president! 

I hope she can find a job soon, being a Singaporean. As people know about Singaporeans, we have 3 great characteristics. Kiasi (scared of death), Kiasu (scared of losing) and Mai Sia Suay (don't malu). How can our most powerful woman and 3rd most powerful in the world don't have a job. And cannot be any humpty dumpty job like selling bbq chicken wings. It must be a job that pays a competitive multi-million salary so that we can retain a talent like hers. If not our security will be at risk and Ho Ching might become a maid in other countries? 

Maybe she shouldn't work and retire early. Does the government welcome this? Their idea are for citizens to work and work until they drop dead. Active aging citizenry, always contributing to the economy. As a leader of our society, Ho Ching cannot retire also, she must set a role model for all young aspiring Singaporeans. I say she should become a financial planner. Help all Singaporeans plan their finances, rich or poor. But everyone must be prepared, the investments she make will have to take a long term view!

So can Mr. Charles 'Chip' Goodyear bring Temasek Holdings foward? bbqchickenwings don't know much about him la. bbqchickenwings think that it is recession now, so must find people who are cheap (chip) and good, even for Temasek CEO. Cannot find any talents in Singapore, so import another FT to take the job. I wish him luck, I really do. Its not so funny when your government reserves are dwindling and no knows how much.

Edible Oranges, (Eat with skin)

What are these wierd looking stuff? Baby Carrots?

Put them together with their big brother. They are oranges, given to me by my landlord. Maybe they know its Chinese New Year, so they gave bbqchickenwings such funny oranges with wierd shape. They are so small. 

Oh, the most special thing is they can be eaten with the skin. Its a little sweet inside but very sour outside. Too sour for bbqchickenwings likings, didn't like 陈皮 a lot when younger, maybe thats why. Too bad I dont know their proper names, talking to my landlords is very challenging and we only have limited appreciation of each other's language. 

Rich NMP Loo contributes his words of wisdom

Image taken from MyPaper, 5 Feb 2009

Dr. Loo Choon Yong says that we are given a five-day work week, but we do not appreciate the 2 days of weekends off to make love and babies. So we should just abolish the five-day week policy and revert back to a six-day week to improve our productivity. 

6565, the evolution of ever-increasing workload

Molly, sharp and witty as usual (can I get an autograph please?), contributes an outstanding thought on his comments. My 1st thoughts were similar to Molly. Last time gahmen say we need to change to a five-day week. So everyone has to do what they do in six-days and compress into five. Now we add one more day back, then everyone can have some extra workload and improve weekly output. Let's repeat the cycle again, add more workload, reduce the number of working days until you are used to it, add one more day and more workload, repeat a few times. 6 -> 5 -> 6 -> 5. Taiwan has 5566, we have our own 6565 initiative! Pretty soon, Singaporeans will be the meanest work machines the world has ever known. Woo hoo, no wonder Dr Loo is so rich. This is his secret formula. (Off topic but I couldn't resist it, a google search of his name shows him being among the 40 richest in Singapore)

Baby no enough, how ah?

Back to the topic of failure to make babies. Dr Loo says the five-day week does not help improve baby production. This year is Year of the Ox. Next year is worse, year of the Tiger. Many people don't like Tiger babies. Since bbqchickenwings forecast that baby production will drop even further, bbqchickenwings say we should have a seven-day working week starting on Lunar New Year next year. Cut down on annual leave too. No respite? Got.. There is the year of the Dragon, the peak that our PM Lee is very joyous about. During the year of the Dragon, we can go back to the five-day week and focus on baby production. The government will give cash on delivery. 

Are you kidding me? You want me to retrench my workers? Yes I will. 

On a more serious note, does going back to a six-day week help in the current economic climate?Yes it does, but it helps employers, no? Now there is slumping global demand for goods and services. Six-day week implemented, but no job to do lei. Lets say I were employing 10 men working five-day week to operate my bbq chicken wing stall, I will applaud this initiative man. Since I don't anticipate a increase in demand for my chicken wings, I will straight away ask 2 men to pack up and go home, the other 8 can tahan the workload of the retrenched workers. Wait, you will lose the Job Credit the government gives lei, my inner soul says. Who cares? I save more money with the retrenchment. Loo Choon Yong, I salute you. You are the source of pride for all employers out there.

With Dr Loo in charge, I am so confident of the top management in Raffles Medical Group. Need to start selling more bbq chicken wings to afford their shares. Sure winner. 

--------------
The Straits Times 
Feb 4, 2009 
Budget 2009 Debate 
Reconsider 5-day week? 
By Jeremy Au Yong 

MORE free time did not result in more babies, so people should go back to work on Saturdays. 

Nominated MP Loo Choon Yong on Tuesday threw up the most provocative suggestion during the Budget debate when he questioned the benefits of the five-day work week. 

Speaking on the second day of the debate on the Budget Statement, he said the move to a shorter work week by the public sector and then the private sectors in in 2004 could have eroded the Singaporean's work ethic, while not improving the fertility rate in any meaningful way. 

The number of live births only inched up to 39,490 in 2007 from 37,485 in 2003. 

'We should accept that as a people our procreation talent is not our forte - nothing to crow about,' he said. 

'I urge the Government to take steps to determine whether our productivity and competitiveness have been affected by the five-day week and to review the policy, if necessary,' he added. 

Dr Loo had unleashed this stunner as he voiced concerns over what he called the 'all life and very little work' attitude of the younger generation. 

He pointed to Straits Times reports on how to maximise leave by taking advantage of public holidays that fall near weekends as an indication of an erosion of the work ethics. 

'I have nothing against our young Singaporeans having fun and partying. But I hope they will work as hard as they play,' he said. 

Declining productivity was also a concern of Mr Zainudin Nordin (Bishan-Toa Payoh GRC) although he broached the subject from a different angle. He pegged the dipping productivity figures in recent years to an over-reliance on foreign workers.

The Owl has signed and all about Emmanuel

The owlish-looking Andrey Arshavin has signed for Arsenal! He will wear the legendary no. 23 shirt, since the even more legendary no. 10 is with crybaby Gallas (what on earth is a centreback doing wearing a no. 10 behind his back). bbqchickenwings, being a lifelong Arsenal fan, seriously hopes that Mr. Owl can kickstart Arsenal's fight for the title 4th place in the league. Though bbqchickenwings do not like the Owl's money-face attitude and all the whining about every other club other than his old club being his dream club, a new signing is better than no signing at all. 

What wrong can happen? Senor Wenger will probably decide to drop Nasri and keep Arshavin on the left and Eboue on the right. Then our new signing will not feel like a new signing then. Why does Wenger persist with Eboue? bbqchickenwings proposes this theory.

Wenger is gay with Emmanuel Petit when Petit was at Arsenal. Thats why he is very sensitive to the name Emmanuel and players with this name always have a special place in Wenger's heart. That explains why Emmanuel Adebayor and Emmanuel Eboue are never dropped from the squad. And we also have upcoming youngsters Emmanuel Frimpong and Jay Emmanuel Thomas, making Arsenal the most Emmanuelly, Emmanuellable Emmanuel Club? Which other club is so Emmanuelly unique? So if you want to be picked up by Wenger and Arsenal FC, its time to change your name. 

Yours emmanuelly,

Emmanuel bbqchickenwings

Something more yummy than bbq chicken wings

Saw this dish being featured by International Herald Tribune. Made by 2 guys from BBQAddicts.com, this dish is now slowly becoming famous, attracting almost 400, 000 views since 2 days before Christmas. This dish is called Bacon Explosion. This bacon cum Italian sausage dish will never be found in Israel. All the Jews and Muslims and vegans can never appreciate how heavenly this dish will taste. I wonder whether it can be found in Singapore though. It is now a new resolution to try this dish in 2009. Hey Mrs Wings, when you finally buy your oven (which I hope is before I go back home), please try to prepare this dish for me. Beats eating bbq chicken wings anytime. You know right, the way to a man's heart is through the stomach. Let me teach you how to make it.

Step 1. Get the ingredients.

1 kg thick cut bacon
1 kg Italian sausage
1 jar of barbeque sauce
1 jar of barbeque rub

Step 2. Create a 5 by 5 bacon weave. Make sure the weaving is tight and the final shape is a square so that it will be nice to work with. 

Step 3. Add some BBQ seasoning. I think some black pepper or bbq powder will do very well. 

Step 4. Add the Italian sausage on top of the weave. Press it down tight and make sure that the thickness is even. If you don't like Italian sausage, swop it for something else. 

Step 5. Add more bacon! This time fry the remaining bacon, cut them and throw them on top of the Italian sausages. I don't want bacon that is too 焦, just a little bit and mainly must still remain crispy. 

Step 6. Time for the sauce. Add some bbq sauce. I prefer Char Siew sauce though. 

Step 7.  Roll up the layer of italian sausage, leaving the weave of initial bacon untouched. Minimize the air inside and once the sausage is rolled up, pinch up the seams and the sides. 

Step 8. Wrap up the sausage roll with the weave. 

Step 9. Sprinkle more seasoning. And place it in the oven (since we won't have a smoker) at 225 degrees C for 1 hour, maybe 2. This one need to try and error lol. 

Step 10. Take out and enjoy looking at the masterpiece. 

Step 11. Add some sauce or honey to get a glossy look. 

Step 12. Cut up like poh piah and eat. For now, I shall just imagine how it will taste like.

Step 13. Call 995 for an ambulance. Artery blocked by all the sinful fats. Need angioplasty. I hope the heart stents work fine.