What Happens When a Country Cannot Pay its Loans?

I am not much of a finance person. So it was news to me that countries can go bankrupt when they cannot pay the installment on their foreign debts. I also learned that countries borrow money from the International Monetary Fun (IMF). I wonder where the IMF gets its funds from? Do all the countries in the world pay it on an annual basis or is the IMF supported mainly by the rich countries?

Anyway, the IMF loaned money to Greece and Ireland because they couldnt service their current debts and Greece went on to default the IMF loan too. So that's a bummer. And now everyone is worried that Ireland might follow suit.

So what happens to a country when it goes bankrupt?



 

Will There Be New Attacks Worldwide?

Now with the infamous Osama bin Laden sent deep into the sea, will this signal the end of terror or the start of another horrific attack on humanity?

Was September 11 a valid attack on the US for all its incompetent handling of foreign invasions? Maybe yes, maybe no. But I have to admit - it was one very well planned attack -- something historians and military tacticians down the line will applaud.

War is never nice. The taking of innocent lives are never nice. You're even more insulated if you live in a nation where your army goes out and conquers the world. You never feel anything. Until something like September 11 happens. Then some people might pay attention to the plight of the poor people in Middle East, whose families are mistakenly killed in drone attacks. Drones make mistake. Innocent lives get killed. But all these are rarely reported. Even if they did, no one cares.

But I worry now. Will we another wave of penetrating and devastating attacks again by Muslims onto the innocent world?

I guess there wont be any peace until Israel gives up the land it illegally acquired from the Arab Nations in the late 1960's, will there?

Someone recently asked me why God allows for all this? He's a foolish man who doesn't know that the absence of God is what causes all these destruction's. When will people learn to see each other as their brother or sister living in a far land, rather than seeing past the people and into what resources their land has to offer?

For all of man's fault, and all the pain we cause others, I wish something would happen that would clean the world of man.

Cowardly or Arrogant Neighbour?

Today a friend of mine told me of an anonymous note he found his mailbox the other day in his house in Como, chiding him for letting the water from his reticulation system run onto the street.

Mind you, my friend had just paid $500 to get his reticulation system fixed and yet it seems to be spraying water onto the road and not onto his verge.

And my friend has only been to Perth for 5 months. And is wondering if Australians are really as nice as they portray themselves to be?

While he appreciates being notified of leaking water and all, it would be nice if he know who the anonymous neighbour was. I don't think my friend will bring a poisoned chalice to the neighbours place but maybe a call of thanks.

Is this the typical Australian?

What Is Your Legacy?

6.4 Billion.

That's the number of people on this planet as I write this blog post today. Can out world sustain more people? What's the limit?

Today we are seeing the weather change before our eyes. Our planet is getting warmer. All the icebergs are melting at a faster rate. The sea level is slowly, but surely, rising every year. Are we like frogs in a pot of boiling water?

But that's beside the point. My question today is what is your legacy? There are more than 6 billion of us here. And unless you're Newton or Einstein, who will know about you once you die?

Children - that's our legacy. I was told parents are only as good as the children they brought up. When I was growing up, we didn't have much riches like how the rich people in the city had. We played mostly with our imagination. But I remember my mother telling me to keep the family name good, never to spoil it. I was my mother's legacy. But will my children know or remember my parents? I don't remember my parents parents. Do you? Do you know who they are or what they accomplished in life?

But what about those among us who have no children? What is their legacy? Who will remember them? Look at all those living alone in old folks homes. Do you know their story?

When I was young, I was keen to know about others. But now I live mainly in my own world. I care only for myself. Is it wrong? Don't get me wrong - if my neighbour calls for help, I will run. But I don't know much about my neighbour. I don't know what he does or what he accomplished.

All this makes me wonder that we're nothing. Even our heir doesn't remember us after a decade or two.

Our task in life is to live everyday to the best that we can. Don't worry about what the future will think of you. Because they wont. People don't think of you as much as you think they do. Their busy thinking about themselves. To them, their important, not you. All you can do is to leave a material legacy - donate to a organization that will bear your name somewhere on its premise. Giving to organizations like World Vision or Child Care wont matter because your donor doesn't see you. To them, all they see if the money and the representative that gives them the money. To be remembered, you must give your time and go out there.

Mother Theresa didn't have money. So she gave people what she had in abundance, her time. And the whole world knows about her, even after her death.

If you have no legacy to leave behind, consider giving your time to the world. You can only receive if you give. That, unfortunately, is the laws of Mother Nature. Give and you will get. Like compounding interest, you have to put your money in before you can claim your interest. So start giving of your time in your local community.

Start small, make a difference.

Are All Malaysian PhD Holders Really Worth Their Degrees?

I was reading this article on CPI about the response by Dr. Ranjit Singh Malhi about Non-Malays not understanding Malaysian history and I am not surprised that he was defending his action against a so-called scholar (read the article to know who the scholar is).

This reminds me of a story my brother told me when he was doing his Masters in Engineering in a Malaysian local university. In one of the courses, two students presented a working software (only 2 out of the 18 students in class came up with a software, most of the other students found it too difficult to do so) related to their course topic. However, when grilled by the two lecturers on the contents of the software, they couldn't answer a single question. It was later discovered that they had paid another student close to RM500 for the software. And there were so stupid as to not even understand how the software worked.

And do you know the irony of the whole story? The irony was that these two students took an additional 3 years to complete the course when everyone else finished theirs in 2 years, my brother included. But the biggest joke of the whole thing is that these 2 jokers are now pursuing their PhD in England under a Malaysian government scholarship. And they will return home to Malaysia one day and tutor students in the local Malaysia universities.

And that is how Malaysia is going down the drain.

You cant make lazy people smart. Only hard work gets you to the top. But Malaysia believes in buying its way to the top. It's a country that is building on thin glass. Only time will tell when the thin glass will shatter and the whole country will be engulfed in a civil war.

Mark my words.

Liverpool & Manchester United

Footballs biggest rivalry continues these two weeks when Manchester United walk towards their 19th English League title, one more than their nemesis, Liverpool has.

The last time Liverpool had any success in the English league was when this man was playing for them, John Barnes.

Described by Ian Rush in his memoirs, Rush: The Autobiography: Liverpool's Greatest Striker, Liverpool's Greatest Era, The True Story, as the most skilled player to ever play for Liverpool, Barnes was remarkable in every sense. His unique skills in dribbling and curling the ball is something Liverpool will never ever see again.

After Barnes retired, the Kops never could find the passion that made them the most successful club in history.

And now, due to their own stupidity, they sit and watch as Manchester United win the 19th English League title and be crowned as the most successful English club in history. This is something I don't foresee Liverpool winning in the next few years.

Of all the Manchester United players, the one I despise the most is Roy Keane. He's an utter bastard who has no respect for the referee and the game. He is the thug that brings shame to the game. It is very obvious that all he has is his temper and not any skills nor brains because he cant do any better being a manager when manager are people who has a football brain. A football brain is not something you could ask Roy Keane for.

But the player I admire is the most is Ryan Giggs. Giggs is the complete opposite of Keane. While Keane was despised, Giggs was adored. Adored for the superb player he is, and also for his gentlemanly conduct and sportsmanship. His sportsmanship reminds me of Gary Lineker. Both players rarely got yellow or red carded in the game. To Giggs, you deserve winning the 19th championship for Manchester United.