Here's a joke that relates to RECESSION AND INFLATION.
There was once a man who claimed to be a WALKING ECONOMY. So, someone asked what's that?
He replied, " My hairline is in RECESSION ; my waistline is a victim of INFLATION and both of them are putting me into a deep DEPRESSION" >: 0
Wednesday, May 21, 2008
Friday, May 16, 2008
NICE economy - A new acronymn
Have u heard of this new acronymn NICE economy? Its a very ingenious way of refering to a perfectly functioning macroeconomy or BEST possible state of a macroeconomy. Well, in our lectures we used GIFT to capture the 4 favourable indicators of sustained growth, low inflation; full employment and favourable trade balance. Now I am leaving it to u to guess the full words behind NICE which exactly what GIFT is about. Anyone wants to try??
mr tan:)
PS: Mervin King, the chief of UK's central bank said recently that in his opinion the "NICE economy" for the UK is coming to an end : (
mr tan:)
PS: Mervin King, the chief of UK's central bank said recently that in his opinion the "NICE economy" for the UK is coming to an end : (
Wednesday, May 7, 2008
Hi People
This is my weekly visit to your blog. Just like any visitor/tourist I am hoping to be greeted by
pleasant surprises. So far your blog is the most updated in terms of postings - the last one was on the 5 May. This is a good sign ... there is life going on in this blog... so guys and gals ... chip in to make your blog the most interesting and lively one Ok:)
PS: Want to give credit to Xiao Min for spicing up the blog.
pleasant surprises. So far your blog is the most updated in terms of postings - the last one was on the 5 May. This is a good sign ... there is life going on in this blog... so guys and gals ... chip in to make your blog the most interesting and lively one Ok:)
PS: Want to give credit to Xiao Min for spicing up the blog.
Monday, May 5, 2008
Some random jokes
These are some random jokes related to econs I found on the internet. Hopefully they can raise your intersets in this subject and assisst in your understanding of the concepts.
Cannibals and Economists
A traveller wandering on an island inhabited entirely by cannibals comes upon a butcher shop. This shop specialised in human brains differentiated according to source. The sign in the shop read: Artists' Brains $9/lb Philosophers' Brains $12/lb Scientists' Brains $15/lb Economists' Brains $19/lb
Upon reading the sign, the traveller noted, "My those economists' brains must be popular!" To which the butcher replied, "Are you kidding! Do you have any idea how many economists you have to kill to get a pound of brains?!"
HA! ... It's a *supply side* joke!
An economist is a trained professional paid to guess wrong about the economy. An econometrician is a trained professional paid to use computers to guess wrong about the economy.
Talk is cheap. Supply exceeds Demand. Bentley's second Law of Economics: The only thing more dangerous than an economist is an amateur economist!
An economic forecaster was known to have an horseshoe prominently displayed above the door frame of his office. Asked what it was for, he replied that it was a good luck charm that helped his forecasts. But do you believe in that superstition? he was asked, and he said, "Of course not!" But then why do you keep it? "Well," he said, "it works whether you believe in it or not."
Three econometricians went out hunting, and came across a large deer. The first econometrician fired, but missed, by a meter to the left. The second econometrician fired, but also missed, by a meter to the right. The third econometrician didn't fire, but shouted in triumph, "We got it! We got it!"
A wealthy labor economist had an urge to have grandchildren. He had two daughters and two sons and none of them had gratified his desire for a grandchild. At the annual family gathering on Thanksgiving Day, he chided them gently to bless his old age with their progeny. "But I haven't given up hope," he said, "Yesterday I went to the bank and set up a one hundred thousand dollar trust fund to be given to the first grandchild that I have. Now we will all bow our heads while I say a prayer of thanks." When he looked up, he and his wife were the only ones at the table
Cannibals and Economists
A traveller wandering on an island inhabited entirely by cannibals comes upon a butcher shop. This shop specialised in human brains differentiated according to source. The sign in the shop read: Artists' Brains $9/lb Philosophers' Brains $12/lb Scientists' Brains $15/lb Economists' Brains $19/lb
Upon reading the sign, the traveller noted, "My those economists' brains must be popular!" To which the butcher replied, "Are you kidding! Do you have any idea how many economists you have to kill to get a pound of brains?!"
HA! ... It's a *supply side* joke!
An economist is a trained professional paid to guess wrong about the economy. An econometrician is a trained professional paid to use computers to guess wrong about the economy.
Talk is cheap. Supply exceeds Demand. Bentley's second Law of Economics: The only thing more dangerous than an economist is an amateur economist!
An economic forecaster was known to have an horseshoe prominently displayed above the door frame of his office. Asked what it was for, he replied that it was a good luck charm that helped his forecasts. But do you believe in that superstition? he was asked, and he said, "Of course not!" But then why do you keep it? "Well," he said, "it works whether you believe in it or not."
Three econometricians went out hunting, and came across a large deer. The first econometrician fired, but missed, by a meter to the left. The second econometrician fired, but also missed, by a meter to the right. The third econometrician didn't fire, but shouted in triumph, "We got it! We got it!"
A wealthy labor economist had an urge to have grandchildren. He had two daughters and two sons and none of them had gratified his desire for a grandchild. At the annual family gathering on Thanksgiving Day, he chided them gently to bless his old age with their progeny. "But I haven't given up hope," he said, "Yesterday I went to the bank and set up a one hundred thousand dollar trust fund to be given to the first grandchild that I have. Now we will all bow our heads while I say a prayer of thanks." When he looked up, he and his wife were the only ones at the table
"Worst of Wall Street crisis over," says Buffett
Worst of Wall Street crisis over, says Buffett
Credit crunch has eased for bankers but Berkshire chief sees more pain for people with individual mortgages
Omaha - MR WARREN Buffett, the chief executive officer (CEO) of Berkshire Hathaway, said the global credit crunch has eased for bankers, and the Federal Reserve probably averted more failures by helping to rescue Bear Stearns.
'The worst of the crisis in Wall Street is over,' he said last Saturday on Bloomberg Television. 'In terms of people with individual mortgages, there's a lot of pain left to come.'
The billionaire was interviewed before the annual meeting of the company, which is based in Omaha, Nebraska.
Mr Buffett, who is listed as the world's richest man by Forbes magazine, said the Fed acted properly when it arranged a US$2.4 billion (S$3.3 billion) buyout in March of New York-based Bear Stearns by JPMorgan Chase.
He said he turned down the opportunity to buy the troubled investment bank because he lacked enough capital and time to craft a solution. More failures and wider panic may have resulted if the regulators had not halted the run on Bear Stearns, he added.
'The worry was that there would be contagion; it was a very real worry,' he said. 'If Bear Stearns had gone, the next day, somebody else would have gone. It could've been a very, very, very chaotic situation.'
US$65 BILLION? I DON'T HAVE THAT MUCH
'As I understand it, Bear Stearns had US$65 billion due on Monday and I didn't have US$65 billion.' BERKSHIRE HATHAWAY CEO WARREN BUFFETT, on why he turned down the opportunity to buy Bear Stearns. He added that the Federal Reserve acted properly when it arranged a US$2.4 billion buyout in March of the troubled investment bank by JPMorgan Chase.
Mr Buffett said he was contacted in March before JPMorgan, the third-biggest United States bank by assets, agreed to buy Bear Stearns.
The person calling him, whom he would not identify, was 'someone responsible' and was not from the Fed or the Treasury.
'As I understand it, Bear Stearns had US$65 billion due on Monday and I didn't have US$65 billion,' Mr Buffett said. 'I couldn't get my mind around that situation in the required time.' New York-based JPMorgan was the right buyer for Bear Stearns, he added.
JPMorgan agreed in mid-March to acquire Bear Stearns, once the fifth-biggest US securities firm, after customers grew concerned about the company's health and pulled out their money, leaving Bear Stearns short on cash.
JPMorgan, which received financial support from the Fed, raised the purchase price a week later to US$10 a share from US$2 to mollify Bear Stearns shareholders who said they were not getting enough.
In a question-and-answer session at the shareholder meeting, Mr Buffett said that from a risk perspective, some banks got 'too big to manage'. Berkshire's own investment in derivative contracts has recovered US$500 million to US$600 million of lost value since end-March.
The company will make 'significant money' from the derivatives over the long term, he said at the meeting, which was attended by a record 31,000 shareholders.
He and Berkshire vice-chairman Charlie Munger fielded questions for five hours, often humorously, on investing, the economy, politics and life. Attendance has soared since Berkshire in 1996 created Class B shares worth 1/30th of a Class A share. These made it easier for ordinary investors to invest with Mr Buffett.
On the issue of succession, Mr Buffett, 77, said Berkshire still has three internal candidates to eventually succeed him as CEO, and four candidates to become chief investment officer.
To replace him, Berkshire plans to split his job into three parts - chief investment officer, CEO and chairman.
Mr Buffett has refused to publicly identify the candidates, but he has said previously that after he dies, his son will take over as chairman to ensure Berkshire's culture is preserved. Mr Howard Buffett already serves on the board.
BLOOMBERG NEWS, REUTERS, ASSOCIATED PRESS
Credit crunch has eased for bankers but Berkshire chief sees more pain for people with individual mortgages
Omaha - MR WARREN Buffett, the chief executive officer (CEO) of Berkshire Hathaway, said the global credit crunch has eased for bankers, and the Federal Reserve probably averted more failures by helping to rescue Bear Stearns.
'The worst of the crisis in Wall Street is over,' he said last Saturday on Bloomberg Television. 'In terms of people with individual mortgages, there's a lot of pain left to come.'
The billionaire was interviewed before the annual meeting of the company, which is based in Omaha, Nebraska.
Mr Buffett, who is listed as the world's richest man by Forbes magazine, said the Fed acted properly when it arranged a US$2.4 billion (S$3.3 billion) buyout in March of New York-based Bear Stearns by JPMorgan Chase.
He said he turned down the opportunity to buy the troubled investment bank because he lacked enough capital and time to craft a solution. More failures and wider panic may have resulted if the regulators had not halted the run on Bear Stearns, he added.
'The worry was that there would be contagion; it was a very real worry,' he said. 'If Bear Stearns had gone, the next day, somebody else would have gone. It could've been a very, very, very chaotic situation.'
US$65 BILLION? I DON'T HAVE THAT MUCH
'As I understand it, Bear Stearns had US$65 billion due on Monday and I didn't have US$65 billion.' BERKSHIRE HATHAWAY CEO WARREN BUFFETT, on why he turned down the opportunity to buy Bear Stearns. He added that the Federal Reserve acted properly when it arranged a US$2.4 billion buyout in March of the troubled investment bank by JPMorgan Chase.
Mr Buffett said he was contacted in March before JPMorgan, the third-biggest United States bank by assets, agreed to buy Bear Stearns.
The person calling him, whom he would not identify, was 'someone responsible' and was not from the Fed or the Treasury.
'As I understand it, Bear Stearns had US$65 billion due on Monday and I didn't have US$65 billion,' Mr Buffett said. 'I couldn't get my mind around that situation in the required time.' New York-based JPMorgan was the right buyer for Bear Stearns, he added.
JPMorgan agreed in mid-March to acquire Bear Stearns, once the fifth-biggest US securities firm, after customers grew concerned about the company's health and pulled out their money, leaving Bear Stearns short on cash.
JPMorgan, which received financial support from the Fed, raised the purchase price a week later to US$10 a share from US$2 to mollify Bear Stearns shareholders who said they were not getting enough.
In a question-and-answer session at the shareholder meeting, Mr Buffett said that from a risk perspective, some banks got 'too big to manage'. Berkshire's own investment in derivative contracts has recovered US$500 million to US$600 million of lost value since end-March.
The company will make 'significant money' from the derivatives over the long term, he said at the meeting, which was attended by a record 31,000 shareholders.
He and Berkshire vice-chairman Charlie Munger fielded questions for five hours, often humorously, on investing, the economy, politics and life. Attendance has soared since Berkshire in 1996 created Class B shares worth 1/30th of a Class A share. These made it easier for ordinary investors to invest with Mr Buffett.
On the issue of succession, Mr Buffett, 77, said Berkshire still has three internal candidates to eventually succeed him as CEO, and four candidates to become chief investment officer.
To replace him, Berkshire plans to split his job into three parts - chief investment officer, CEO and chairman.
Mr Buffett has refused to publicly identify the candidates, but he has said previously that after he dies, his son will take over as chairman to ensure Berkshire's culture is preserved. Mr Howard Buffett already serves on the board.
BLOOMBERG NEWS, REUTERS, ASSOCIATED PRESS
Sunday, April 27, 2008
Hi People
Great to be invited to visit your blog. So far I can say yours is one of the more interesting blogs I have seen. Want to give credit to Xiao Ming for helping to set up the blog and to those who have contributed. The judging panel will be visiting your blog every week to award scores for (1) CONTENT RELEVANCE (2) CONSISTENT PARTICIPATION (3) CREATIVE USE OF MULTIMEDIA.
cheers:)
Mr Andrew Tan
cheers:)
Mr Andrew Tan
Monday, April 21, 2008
Study Resources
Hello people,
From today onwards, I shall be posting all the materials sent by Mr Tan to everyone (for your convinience in making references) and the slides put up by Mdm Tengara (try ahh, coz I still dun know how to upload ppt onto the blog) in phases. Hopefully, this will help you guys in your revision.
Once again, please contribute to this blog! Try to visit it at least once a day, and, mostly importantly, spam it with your the posts!!! It can be anything, like doubts that you wish to clear, or just any random stuff that you want to discuss with us.
Sincerely,
XiaoMing
From today onwards, I shall be posting all the materials sent by Mr Tan to everyone (for your convinience in making references) and the slides put up by Mdm Tengara (try ahh, coz I still dun know how to upload ppt onto the blog) in phases. Hopefully, this will help you guys in your revision.
Once again, please contribute to this blog! Try to visit it at least once a day, and, mostly importantly, spam it with your the posts!!! It can be anything, like doubts that you wish to clear, or just any random stuff that you want to discuss with us.
Sincerely,
XiaoMing
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