What do you make of this ?

From the Voice of America,

US Central Bank Cuts Key Interest Rate by Half Point By Michael Bowman
Washington
30 January 2008

For the second time in just over a week, the U.S. Central Bank has cut interest rates to try to spur a slowing economy. From Washington, VOA's Michael Bowman reports.

A television screen in a booth at the New York Stock Exchange shows the Fed interest rate decision, 30 Jan 2008

Last week, the Federal Reserve aggressively cut a key short-term interest rate by 0.75 percent in what was seen as an emergency move to reassure global financial markets that plunged amid worries of a possible U.S. recession. Now, the Fed has acted again, slashing the so-called "federal funds rate" - which banks charge each other on overnight loans - by another half percent to three percent.

In a statement, the central bank said, given current economic conditions - including a depressed U.S. housing market, a credit crunch, and market volatility - further rate cuts could be forthcoming.

The Fed actions are good news, according to economist Mark Zandi of the credit rating agency Moody's Economy.com:

"With a little bit of luck and some good policy-making - the Federal Reserve is lowering rates - with some fiscal stimulus, we may be able to get out of this [economic situation] without a full-blown, broad-based recession," he said.

Earlier Wednesday, the Commerce Department reported the U.S. economy grew at an anemic 0.6 percent in the last quarter of 2007, for a total expansion of 2.2 percent for the year. That is the lowest growth rate since 2002, when the United States was struggling to recover from a recession made more severe by economic shockwaves resulting from terrorist attacks the previous year.

Math for Dummies (like me)

It is so ironic that Math is actually questioning me whether i believe that 1 + 1 adds up to 2.

Then there're these theorems :

Theorem 1 : 1 + 3 + 5 + 7 + ....+ (2n - 1) = n^2

Theorem 2 : 1^2 + 2^2 + 3^2 + ......+ n^2 = [(n)(n+1)(2n + 1)/6]

Are both the theorems true for all n-numbers ? If so, why ? Hmmmm.............

Now, a bit of history on IRRATIONAL numbers..

There was this guy named Pythagoras who, hundreds of years ago in ancient Greece, derived the right-angle theorem that a^2 + b^2 = c^2. He claimed that this is true for all numbers a, and b and c. Pythagoras was so revered that he exclaimed that "there are men, gods and men like Pythagoras" The Pythagorean School even had the dictum of "ALL IS NUMBER".

It was very unfortunate that the ancient Greeks believed that "Numbers" meant positive whole numbers and its ratios (1,2,3, 3/5, 7/6 etc)....and nothing more.

One day, a man came with the Pythagoras theorem and asked what if a and b happened to be the number 1? In other words, he was trying to say that c is actually the square root of 2, which at that time, was not recognized and widely accepted as a 'number'.

It is recounted that this man, Pythagorean Hippasus of Metapontum was brutally drowned by people devoted to the teachings of Pythagoras. They said that this man was mad or IRRATIONAL.......

But then, how sure are you that the square root of 2 is irrational ? hmmmmmmmmmmmmm

Yaikks !

3 months ago,

There was a FREAK accident at the junction between 37th and Spruce. A cab skidded on a very slippery road and swirled in a semi-circle before crashing into the curb, by-passing a few trees though a pole at the junction suffered 'minor injuries'. Just a few days before this incident, a food-truck at the same junction was engulfed in flames. Eye witnesses said that the methane tank from the truck exploded. Eeeeee,.... 37th at Spruce is really f-r-e-a-k-y.

Anyway, I, being extremely-so k-p-c (a very m'sian thing ok..), took a few snippets of the incident. The police here was so concerned that they deployed 5 - 7 personnels at the scene and even called a firetruck (probably because of the other incident). Unlike most msian drivers, the americans here are not much bothered by the incident. Unsurprisingly, there were no bottle-neck traffic jams caused by curious drivers.

4 weeks ago,

It is NOT advisable to travel to the midwest during the winter, especially by train. Its super-duper extremely COLD and the wind goes speeding up to 50mph. I wonder why they don't have traffic police for winds.......

The day after i arrived at Lafayette, operations at chicago airport was halted due to severe blizzards. And of course, if you travel by AMTRAK, prepare to face derailments. Prepare to wait and wait and wait and wait and wait for the train to move. I was so irritated by the frequent stopovers that i can't help but snap a pic of one of the many places where the train stopped...in the middle of nowhere..


But of course, AMTRAK will help accommodate all passengers by preparing shuttles (either by buses or airplanes). Bill, who was supposed to meet me in Chicago, was pampered by a night at Hyatt with USD 50 to spend, courtesy of AMTRAK. Lucky him. So yeah, if you decide to enjoy a midwest winter vacation, take the AMTRAK. Its definitely a better option than a flight.

Heck, it even looks like an aeroplane (without the wings).


Night @ pittsburgh.

(Ps : i met a 'mexicano' lady at the ticket counter. She thought i was a Mexican and started speaking spanish. WTH. Oh and on my way to lafayette, i was sitting next to a Purdue professor who's conducting research on.......the behaviour of coyote'!!!!!!..... America is soo weird.)

5 days ago,

Talking about Bill, I'm taking this opportunity to introduce to you a new blog (don't kill me yea..). i was running through the html code of the template (because of some bugs) a few days ago and i was surprised to find out a few new visitors coming from new sources or references. I've updated the wired section on the left widget, (hope you don't mind) and WELCOME to this cyber-rabling-site but don't expect much here. I've a BIG problem with blog-commitment =).

3 weeks ago,

I (and a few of us here) got to know that a senior Malaysian student at a prominent university here is accusing a junior scholar back in Malaysia for plagiarism on a 'university application' essay. I understood that threats have been thrown into the discussion but i shall not delve into that (and neither should you) as it's best to leave it to them to settle the problem amicably, without any external interference. But this is certainly the first case I've heard and seen in my life!

Oh, before i forget, to those who have submitted your application to the University of Pennsylvania for admission to the Class of 2012, Christine Lim, the regional-coordinator for admission interviews, will be conducting the interview sessions on the 26th of January and the 10th of February. The sessions are open to ALL candidates although registration is required. Please drop Christine a message for further details.

1 week ago,

I spent less than USD 200 on my books for this semester (albeit i've been shopping in the 'student-market')!! The PennBoookstore is just a cut-throat place. My advice, get your books from Amazon or the House of Our Own which is located on the 39th street. You can save up to 63% on books from these places. Maybe we should propose for those democrats or republicans to advocate for a cheaper (if not free) education in the states.

Obama,
No, I'm not an obama-supporter (although i'll back him if he decides that education will be free in the US). Why is everyone (ok, not everyone) supporting Barack Obama? For starters, he doesn't even have a short-term plan to combat the prime-mortgage problem. Although he has excellent ideas on the methods to PREVENT the issue from repeating itself, he clearly does not have any CURE for it. Politics is not just about perception. Vote for Clinton or Edwards =)

Speaking of naiveties, how many of you out there are aware of what HINDRAF is all about? I bet 50-85% of the citizens who took the streets 3 months ago do not know what was exactly written in the memorandum. Now, the "Linggam-gate', which is a non-issue and the opposition is making a lot of broo-ha-ha on it for no apparent reason. So what if all the allegations are true? It is clearly stated that the promotion of all judges fully lies on the prerogative of the Executive Head, which in Malaysia, translate to the serving Prime Minister.

You would be kidding me if you do not expect him to not listen to views from other individuals, especially those in the judiciary. How can you not listen to somebody in the judiciary if you are responsible to promote judges? Every lawyer can claim that he/she is setting up so-so to get into the position of so and so. But so what? It's not them who will be deciding which judge should be promoted to so and so positions. Get real people. The judiciary system is just that. period.

Now go back and study or do your work. You've wasted 15 minutes of your precious time here.
And i need to sleep =)



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Recap...

ps : if its too fast, click on the stop button[ || ]at the bottom of the slide show and navigate manually.

Back in philly !

Where's the snow ?

New Year's Message from the Boss.

As forwarded by Pn. Rafidah :

Enclosed herewith is the Governor's New Year Message for 2008, for your
info, please.

We would also like to wish you all the best for the year 2008.

Thank you.

Rafidah Latif
Talent Supply - Scholarship Section
Human Resource Management Department
Bank Negara Malaysia (11 C Floor)
Jalan Dato' Onn
50480 Kuala Lumpur

--------------------------------------------------------------------------------------------------------------

The year 2007 had been an excellent year for the Bank. Significant advancement was achieved in macroeconomic management and in developing the financial system and ensuring its soundness and resilience. We have also made significant progress in strengthening the organizational capacity of the Central Bank. These have been possible due to the high level of performance and perseverance of the staff. I would like to thank everyone for the hard work and unwavering commitment throughout the year. Year 2007 had been an excellent year for the Bank. Significant advancement was achieved in macroeconomic management and in developing the financial system and ensuring its soundness and resilience. We have also made significant progress in strengthening the organizational capacity of the Central Bank. These have been possible due to the high level of performance and perseverance of the staff. I would like to thank everyone for the hard work and unwavering commitment throughout the year.

Our economy has continued on a steady growth path despite the slowing external demand, the turmoil and heightened uncertainty in the financial markets and rising inflationary pressures. Strong domestic demand amidst rising incomes and low interest rates have promoted steady consumption spending and rising investment activity. In 2008, the environment can be expected to be even more challenging as growth in the industrial economies slows even further and as inflationary pressures intensify. The challenge for macroeconomic policy will be to sustain steady growth while reining in inflation.

In this challenging environment, the financial sector has demonstrated its resilience and high level of performance. More importantly, the financial sector has been able to perform its intermediation function and thus support the growth and development process. In addition, risk management and governance practices have improved and this has been reinforced by a more flexible regulatory framework, and strengthened surveillance and supervision.

The Bank has also had an important role in promoting an increasingly more diversified
financial system that now provides the full range of financing to consumers, to micro enterprises, SMEs and start-ups, and to large corporations. The Bank was instrumental in introducing institutions that provide micro financing and to the establishment of investment banking which now has begun to have a more significant role. This year, we also saw the establishment of the Cooperative Commission and the Deposit Insurance Corporation's move towards differential premium. All these developments have strengthened our financial system considerably.

In the area of Islamic finance, the international dimension has gained significance. There is greater foreign participation in our Islamic financial institutions and financial markets. And, nearly all international financial centres are now establishing systems to promote Islamic finance. The Islamic Financial Services Board established five years ago in Malaysia has now become an internationally recognized prudential standards setting institution. Going forward, the major part of our efforts and that of the industry need to be on promoting Malaysia as a centre for the origination of Sukuks and as a hub for Islamic financial activities. The cumulative efforts of this progress is that Islamic finance is becoming an important source of growth and employment.

During the year, increased efforts were made to enhance our reserve management. Through proactive strategies to maximise returns and the usage of new money market instruments which have lowered the costs of managing liquidity, the Bank achieved a significantly higher-than-anticipated financial result for 2007, posting a record net profit in the Bank's history. In the region, the Bank played an instrumental role as chair of the Task Force on Regional Financial Cooperation in Asia. All the recommendations of the Task Force have been adopted by EMEAP Governors, with some of them already being implemented. In particular, the Monetary and Financial Stability Committee was established to strengthen regional surveillance and crisis management. This is a tremendous step forward for the region's financial co-operation and integration.
At the Bank, there has been increased investment in the staff, in the facilities and leading edge technology. New governance structures, processes and systems continue to be introduced. This is reinforced by efforts to inculcate the Bank's values and corporate culture. Emphasis has also been given to leadership development. While significant progress has been made on all these fronts, much remains to be done given that the environment before us continues to rapidly evolve.

The year 2009 will celebrate 50 years of Central Banking in Malaysia. In 2008, we must take the opportunity to consolidate, and rationalise so as to optimise the utilisation of our resources in achieving our mandate. This will involve enhancing our strategic focus and giving priority to what matters most. In achieving monetary and financial stability, focus needs to be given to enhancing our surveillance capabilities which is vital in this rapidly evolving and uncertain environment. It needs to be reinforced by assessments of the implications of these developments on the current and future conditions. Our proactive and appropriate policy responses will be based on this information. We have seen in the current international environment that late detection, lack of recognition of the implications of the problems, indecision, inappropriate policy responses and poor coordination among policy makers and regulators have led to disastrous outcomes.

In the continued development of the financial infrastructure, we need to prioritise and accelerate efforts to develop the foreign exchange market and the bond market. This is particularly essential, given the current more liberalised and competitive environment. Indeed, we need to complete the blueprint for liberalisation so that we are aware of the necessary pre-conditions and sequencing to ensure that liberalisation can be efficiently implemented and thereby enabling Malaysia to yment system, the establishment and operationalisation of the Bank's payment subsidiary, the acceleration in deployment of debit card terminals, the greater use of mobile phones for e-payments and the promotion of greater awareness on e-payments will be the priority in 2008.

In terms of our regional role, priority is to be given in driving the regional surveillanceagenda and to putting in place the regional crisis management framework. This is essential for the region to better manage unexpected eventualities that may occur. A major focus will also be to support the SEACEN Centre to be a world-class regional organization in the promotion and development of training and research in central banking.

Finally, the Bank will in 2008, establish a new unit that will co-ordinate the demands on the Bank to provide technical assistance, advisory services and training to other Central Banks. In the recent few years, these demands have been overwhelming. This new unit will more efficiently manage these requests for assistance. For our own organizational development, the focus in 2008 will be on talent management. A robust talent supply framework will be critical in ensuring that the Bank has the right talents to perform their roles effectively. The performance-based culture will continue to be the focus in assessing staff's contribution and in the management of succession planning and implementation of the new progression rule where high performers will be duly recognised and rewarded. Despite the performance bar being constantly raised, the average performance of our staff has continued to improve. The improved benefits and rewards need to be reinforced by strengthened coaching, mentoring and staff rotation programmes as well as ensuring that all staff benefit from learning opportunities available in the Bank. We will continue to place high priority on staff training, given the Bank's committed investment in learning and knowledge management activities of about 12% of total staff salary in 2008, and the provision of enabling facilities. The integration of learning and knowledge management, through the placement of the Knowledge Management Centre in HRDC, has certainly brought synergistic benefits for enhanced learning and knowledge management in the Bank. The launch of the newly-enhanced kijang.net in 2008 will result in the transformation of our working environment into a more unified and collaborative workplace. Kijang.net, the Bank's Enterprise Portal, will enhance information access and visibility across the Bank and provide an enabling platform for innovation and business process transformation.

In 2008, as part of our boundary management, we should be signing off our work on SME development and just focus on SME financing. With the completion of Sasana Kijang, the Lanai Kijang and the Data Centre, we can also sign off all the construction activities. We also hope to complete the Day Care Centre in early 2009. The centre will be able to provide facilities for day care and pre-school activities for 400 children. During the year, three departments will be restructured, namely, Economics, the Currency Management and Operations, and the Internal Audit departments. The year 2007 saw the successful implementation of the departments focussed on financial stability and financial sector development. A new business model will be adopted in the Currency Management department. Focus will also be given on the issues relating to denomination and new designs for the currency. For 2008, the new framework and approach for managing organisational risk will be adopted. All these priorities are encapsulated in our Business Plan for 2008. The Directors of the various departments will have a key role in communicating the plan to the staff so that there will be greater clarity on the business focus and priorities of the Bank and how they fit into attaining the Bank's desired outcomes. This will be essential to ensure the successful implementation of the plan and the delivery of its results. The plan will bring all of our resources together and collectively, with the better understanding of our respective roles, it will lead to achieving the overall objectives of the Bank. It will be an important anchor for steering the Bank towards greater performance in 2008.

Finally, the year 2008 will also devote considerable time to the amendment to the Central Banking Act. After 50 years of Central Banking, it is timely to reflect and assess the major changes that have taken place and how to put in place an Act that will allow the Central Bank to function effectively for the next 50 years. With your steadfast dedication, drive to achieve excellence and unwavering commitment, I am convinced that collectively, we will be able to achieve the objectives set out in our plan in 2008. We have the unique opportunity of celebrating the 50th Anniversary of the Bank in 2009 and I am certain that all of us in the Bank will be proud to be associated with the growth of the Bank and for bringing it to where it is today. Finally, on behalf of the Board and senior management, I would like to take this opportunity in conveying our best wishes for the New Year. May the New Year bring good health and happiness to you and your families.

Dr. Zeti Akhtar Aziz
Governor
Bank Negara Malaysia
4 January 2008

ps : the page-break(s) has been altered from the original for better fit into this webpage.

Pics from W. Lafayette....

Some LoneRanger in Lafayette has been bugging me these few days. While I'm still around here in Indiana, I better post these few pics =)


Winter Destination '07: Purdue University, the home of the boilermakers (don't ask me why)



Police Barricade at Purdue. (but found no officer in the car..oddly..)


Huge place with big buildings.....


Now this is seriously 'interesting'. The "greeneries" in Purdue has "Andrew" inscription on them. I wonder whether 'uhhum' has bought over the dispossal company in lafayette to spy on LoneRanger.........(LOL...eh btw,...how's Vegas, Pasadena and SF ?....when i got enough money to fly to the other side, u can bring me around la....)




Well, what is winter without snow ? Snow storm..1st January '08
Left : Chief Doggers..wafff.....
Right : Budak perasan aka poser (feel free to ask more pics of him posing).....


The only leaves alive in Brownstone.


Frozen cars but I've not seen ice-man.... yet.

Happy 2008 !

To all out there in the universe,

"We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called "opportunity" and its first chapter, is New Year's Day".

~Edith Lovejoy Pierce~

Wishing you all a successful and bright New Gregorian Year !!!!!

As reported by NST

Here's Malaysia's astrology outlook for 2008 :

Things don’t look to be all that rosy next year but astrologers tell TAN CHOE CHOE and P. SELVARANI that Malaysia’s inherent good fortune will help it overcome any challenges it may face

AS the clock ticks away the last hours of 2007 tomorrow night, many of us will be hoping that the new year will be an improvement over the old.

But will it?

The answer is "no", according to some astrologers, because all of the elements that had a negative influence on 2007 would still be present in 2008.

"Clashing elements, missing elements, no lap chun (Spring) -- we'll be having the same bad signs in 2008 but they'll affect us in a different way," said astrologer and feng shui consultant Lillian Too.

"It's (going to be) a very weak time," said Chinese astrologer and feng shui master Datuk Yap Cheng Hai.

But all is not doom and gloom, said Too, because Malaysia was in a favourable geographic location.

"The West will see more argument and instability but countries in the East and Southeast will continue to do very well.

"In addition, our Prime Minister Datuk Seri Abdullah Ahmad Badawi, who was born in the Year of the Rabbit, will be having a very good year.

"So that bodes well for the country."

Yap predicted that Malaysia's wealth star would continue to shine brightly so there would be money to be made for everyone.

Their predictions were echoed by Hindu astrologer and member of the Malaysian Astrological Society, Subramaniam Kandiah, who predicts the year ahead to be a "generally good one".

But, he said, there would be troubled times, especially during the period before and after the eclipse of the moon (chandra grhanam) on Feb 21.

"There is a tendency for fights and natural disasters to occur during this period.

"There will also be more chaos as I see some people will take to the streets again," said Subramaniam.

POLITICS

The unanimous opinion is that the Barisan National will emerge victorious again in the general election.

But Subramaniam, who predicted that the general election would be held in early March during the inauspicious chandra grhanam, advised that it be postponed until after Hindu New Year on April 14.

Yap also thinks BN would emerge victorious, but warned that it could lose some 10 per cent of its votes.

ECONOMY

"Wood and water-related industries" will, likely, suffer in the coming year. Publishing, printing, education, textile, fashion and shipping industries are likely to have a rough time as competition stiffens.

"Foreign investments will be slow but local traders will not be so badly affected," said Subramaniam.

On the upside, oil prices would start to ease and the US greenback would stabilise, said Too.

"Fire-related industries such as restaurants, entertainment outlets, the share market and pubs will enjoy good fortune, and so will metal industries like mining," said Too.

"Earth-related sectors like construction and property will be average -- property prices will rise and commodities like rubber and oil palm will probably maintain its good run from 2007."

SOCIAL

Racial relationships would largely be stable, although the astrologers generally said there would be some hiccups along the way.

Yap said Kuala Lumpur, being in the west of the country where "the stars of two generals" sit next year, would probably see an increase in "noise" level in that people would be more argumentative than usual.

Tarot card consultant Meetah Kaur's cards tell her there would be a sense of loss and disappointment among the people, but there would be efforts to bring them together.

"Sometimes it seems they are united, but the relationship seems to be fragile. It looks as if it'll fall apart easily. But the next few months will see stronger efforts to unite the people and the future looks bright."

Too feels that good sense would prevail eventually because "the country has a sound base, the people are generally well-educated and there's positive energy all around".

NATURAL DISASTERS

While none of the astrologers could guarantee there won't be floods next year, Too thinks their severity will be "subdued" because 2008 is the Earth Rat year, "and earth suppresses water".

"(Flooding) is not going to be as bad as this year. But next year, earth rules, with missing metal and wood elements.

"There's also shortage of fire. But, luckily, Malaysia is in the southeast and the fire energy will fly to the southeast sector, so we're ok.

"But I think there'll probably be more occurrence of landslides as the excess earth, combined with the missing elements will cause much instability," Too added.

Subra said he did not see any major natural disasters occuring in the region, but thinks there would be man-made ones such as landslides. He also predicted a major earthquake in the northwest region of Africa, where many lives would be lost.

INTERNATIONAL OUTLOOK

Will Hilary Clinton be the next US president? Yes, said Too and Subramaniam.

"Hilary has the stronger personal chart compared to Barack Obama. Even if he wins in Iowa, he'll not win the presidential election. Hilary is the one," said Too.

Subramaniam, meanwhile, said there might be an assassination attempt on Philippines President Gloria Arroyo.


Happy New Year !!!