Indonesia's Go-Jek to announce first Southeast Asia expansion in week: Internal memo Read more at https://www.channelnewsasia.com/news/technology/indonesia-s-go-jek-to-announce-first-southeast-asia-expansion-in-10080940 (Updated: )
It is thus important to watch out for Trump's "Boom and Bust" budget, fiscal policies (or his "Economic Yo-Yo" policies) - that artificially inflate economic growth (causing a spiking "Boom" for immediate gratification to his voters --- but will cause a sharp correction in the near term causing a sharp downturn correction - a "Bust" --- that will cause US recession --- and have the impact of pulling down the World Economy --- triggering a World Recession --- like in the past.
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Ricky Lim · Singapore
Thus Trump enticing US Congress that has just passed his "Boom and Bust or Yo-Yo" budget policies - must be defeated in the Senate --- and look like it is on the verge of being defeated.
US Senate must stop the irresponsible fiscal budget and pass a responsible budget - for the sake of US and the World that has tight integration with US.
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Ricky Lim ·
Singapore
Trump "Boom and Bust” budget that will trigger medium term US recession and World recession defeated.
Democrat leaders refuse talk with Trump and White House but instead negotiate directly with Republican leaders.
Live demo of how social media can shape 1 national event and 1 world event and transform tche world virtually.
人法地。地法天。天法道。道法自然。
宇宙万法唯心造。善果因缘生。恶果因缘灭。
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Ricky Lim · Singapore
Ricky Lim ·
Singapore
Ronald Reagan economic policies - start the accumulation of massive debt for US.
"Reagan has tripled the Gross Federal Debt, from $900 billion to $2.7 trillion."
As of July 31 2017, the federal government’s total debt stands at $19.845 trillion. The nation’s debt is now bigger than its gross domestic product, which was an estimated $19.23 trillion.
Net interest payments on the debt are estimated to total $276.2 billion this fiscal year.
This is known as the "Boom and Bust" fiscal policies and financial policies - to reap immediate gratification to please the voters by "inflating economic growth" - but bring economic bust a few years down the road.
The world has experience cyclic "boom and bust" - because of such policies.
Now Trump want to emulate this irresponsible policies - and you say this is good.
Clinton and Obmama --- are the one that have implemented prudent and pragmatic economic policies - not Trump.
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Ricky Lim ·
Singapore
Ricky Lim ·
Singapore
Is Trump creating conditions for US to experience another Lehman Brothers collapse in the US financial sector?
The World financial system must be careful in investing in funds coming out from US - or else get caught in the Lehman Brothers 2 saga.
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Ricky Lim ·
Singapore
Trump drastic cuts in taxes, and boosting rampant spendings - is creating a ballooning fiscal deficit --- and increasing debts for US - and its future generation will have a hard time servicing the debt.
Together with this banking regulation - Trump is creating a condition for financial crisis or meltdown of the past.
Trump don't seems to care about the future - and bend on immeditate gratification.
World Economy and finacial institutions must be careful and watchful of what will come out from Trump financial and fiscal policies --- and not let it drag down in a domino effect of the past.
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Ricky Lim ·
Singapore
Trump don't seems to learn from the lesson of the past - or rather he is indifferent - because it will not affect him now.
The problem will surface later - where he may not even be around - and he couldn't care less.
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Ricky Lim ·
Singapore
In the past, financial crisis one after another is trigger by such policies - and has recently been ratified and regulation put in place - to prevent such cyclic eruption of financial crisis - after a few years - when it bust after boom.
Now Trump want ot reintroduce this "boom and bust" policies again - and stir the World financial system.
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ricky l
ricky l 2 seconds ago
Wonder how can a Country sustain trillion dollars of debt and need to service hundred and billions dollars of debt interest?
Will the Country even able to repay the debt?
Wonder by deregulating the banking sector, will banks and financial institutions again resort to risky investment and put all the investors and depositors money into big risk of default and run-on bank again.
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Ricky Lim ·
Singapore
Trump obviously have forgotten or try to forget the lessons learn from US past finanical crisis :-
(1) US taxpayers money of hundred and hundred billions of dollars are used to prop up US banks and finanical institutions like BOA, JP Morgan, Citibank, AIA, etc - when financial crisis hit from its sub-prime investments in toxic assets. ----- Now Trump want to dismantle the banking regulation - to protect its financial industries.
(2) US Treasury have to borrow trillions of dollars by selling bonds to China, Japan, Saudi - to fund its massive budget deficit. --- Now Trump want to cut its tax in huge percentage, boost its spendings and balloon its debt and widen its budget deficit.
(3) US Treasury have to pump prime its Economy ---- by printing US dollars to repay its debt. ----- Now Trump think that he can do this again if US Economy go into "cyclic boom and bust" cycle --- with Trump risky policies - for immediate gratification but no regards for the future US generations.
--- Can the World not be careful and watchful on what Trump try to do --- and trigger a domino effect on the World financial system in the near future?
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Ricky Lim ·
Singapore
Analyst have computed that if Trump implement all his economic policies including his wall of America - it will add another $5 trillion debt to the $19.845 trillion in Trump short term in office.
And you say that Trump policies is damn good - or damn goon?
Wait till his children, grandchildren and descendants pay the massive debt accumulated by him for US.
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Ricky Lim · Singapore
Greece have to bite the bullet, go through extreme austerity -- to pay back its huge debt and emerge from near bankruptcy.
US with such unprecedented massive debt --- can do better?
And you now say what Trump is doing is "damn good"?
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Ricky Lim · Singapore
Ricky Lim ·
Singapore
See this to learn a good lesson - about a good fundamental economic principles :-
Greece blows EU-IMF bailout targets away with strong budget performance
Reuters
By Lefteris Papadimas and George Georgiopoulos
ReutersApril 21, 2017
ricky l 10 seconds ago
The prudent fiscal budget - to ensure a balance budget - that have led to correction of the debt problem with belt tightening measures and a few years of pain --- maybe the correct move.
For now on, Greece must be prudent in ensuring sustainable fiscal policy and growth generation policy that are sustainable.
ricky l
Reply 00
ricky l 29 seconds ago
Posted on :-
Feb 1, 2015 9:08 PM
Ricky Lim · Singapore
There are few things need to be put right :-
(1) Economic fundamental must be put right first - and thereafter create employment. If economic fundamental is not on sound footing - all patch work will just be a temporary patch and does not build a strong foundation for economic growth. Right economic fundamental - refer to right fiscal policies, right monetary policies, right investment policies, right balance of payment etc.
(2) Corruption must be eliminated - to have sound financial system
(3) Debt must be honored - and if have problem paying back - should restructured the debt for longer term repayment. Otherwise, no one will provide further loan if debt can be dishonoured.
(4) Can consider pledging something of value to creditors - like carve out a piece of land as collateral to creditor for say 100 year for creditors to invest in - until loan is repaid or to get further loan - until the country has successfully repay all the debt, get the economic fundamental in place and create sufficient employment for its citizen.
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ricky l00
ricky l 9 seconds ago
Critics in the last few years criticise the above suggestions - has caused undue miseries to Greece and kill Greece economic growth and kill job creation.
Now the above suggestions turned out to be the right things to do.
What is right in the micro-level - also means that it is right for the macro-level.
Prudent fiscal policies with the objectives to create growth and job creation is the right way to go.
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ricky l00
ricky l 29 seconds ago
Rampant Spending tommorow's money and leave the burden to future generations and descendants to pick up the bits = are wrong.
Rampant Spending based on big borrowing, heavy debts (especially external debts) = are wrong.
Rampant Spending with no objective of investing into the future = are wrong.
Rampant Spending based on over-generous welfare benefits that are not sustainable and do not encourage working = are wrong.
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00
ricky l
ricky l 9 seconds ago
Well done Greece !
You have make it !
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Donald Trump's 'mad economic policies risk world crisis', says ex-Bank of England adviser
President Donald Trump is risking recession in the long-term for short-term gains, warns a leading UK economist (REUTERS/Joshua Roberts)
A former Bank of England economist has warned Donald Trump’s “mad policies” risk sending the US into recession, bringing the global economy down with it.
Paul Fisher said he feared the US president’s low tax-high spending agenda will see the US economy overheat.
“It is economic madness to think that this is the time to do a fiscal expansion in the US,” he said. “The economy [will] be in a complete mess” in around five years’ time, he predicted.
Fisher said the president’s $1.5 trillion stimulus package is storing up problems for later.
By the time the next presidential election comes along in a two years, the benefits from that huge investment will be being felt.
However, warned Fisher, the fallout will most surely follow.
View photos
President Donald Trump signs a proclamation to establish tariffs on imports of steel and aluminum (REUTERS/Leah Millis)
“I can see why Trump might do it – by the time the next US election comes around you will have had the benefits but you won’t have had the costs,” he said.
“It is the old stop-go cycle we had in Western economies for years and years.”
He said Trump’s policies would almost inevitably see inflation rise, hitting the poorest in America the hardest. A recession could soon follow, he added.
Fisher spent 26 years at the Bank of England, five years of them sitting on the Monetary Policy Committee – the group of economists and advisers that set the UK interest rate.
A central plank of Trump’s presidency is making “America great again” by putting domestic growth at the top of the agenda.
China urges the U.S. not to start a trade war
China is urging the United States to "pull back from the brink" as President Donald Trump's plans for tariffs on up to $60 billion in Chinese goods brings the world's two largest economies closer to a trade war. Sara Hemrajani reports.
His confrontational and protectionist style appeals his core voters as he seeks to deliver on campaign promises of “jobs, jobs, jobs”.
Both the European Union and China have threatened to retaliate in kind, raising the spectre of an all-out global trade war.
Fisher added: “One thing we know from thousands of years of history is that trade makes you rich, and anything that damages trade is probably not a good idea.”
North Korea leader Kim Jong Un visits China - Bloomberg
North Korean leader Kim Jong Un has visited China in what is believed to be his first overseas trip since taking power in 2011, Bloomberg reported on Monday citing three unnamed sources.
Read more at https://www.channelnewsasia.com/news/world/north-korea-leader-kim-jong-un-visits-china---bloomberg-10078252 (Updated: )
Look like the will to denuclearise through 6 party talk is increasingly possible. S Korea, China will play an important role to ensure this is possible --- especially if Trump falter in the talk.
The wild card that can cause the Korean denuke talk to fail - is likely to come from Trump and Trump's camp - where even before the talk - already say the talk is a "decoy".
Thus both S Korea and China must try to keep the talk an even keel to prevent the wild card - from causing the talk to fail.
This is a very rare opportunity to ensure Permanent Peace in Korean Peninsula --- there is a serious and urgent need to seize this "golden opportunity" and not let it fail.
China willing to hold talks with US to resolve trade differences Read more at https://www.channelnewsasia.com/news/asiapacific/china-willing-to-hold-talks-with-us-to-resolve-trade-differences-10076974 (Updated: )
This would appear that China got more to lose in a trade war. If trump reads his cards correct, he should go ahead to make America great again. China may have fear that a military clash would not b too far away in the SC sea.
No one win in a trade war. Most analysts calculated that US will lose alot more than the rest. The only difference is that Trump don't care - whether it hurts American consumers, business or the US Economy. China and other Countries care.
Even if US has its way by inducing China or other Countries to comply to Trump's wish - ultimately American consumers and US businesses will lose more in the long run - because American consumers ultimately will have to pay a higher prices - due to higher material cost, higher prices (rather than the most cost effective prices - because Trump induced accepting market inefficiency and price inefficiency).
And Trump high handed and bullying ways to bulldoze tariff against friends and trade partners - has already bring a bad taste to many Countries in the World.
Trade, business and investment is about mutual goodwill, mutual respect and mutual benefits. But Trump ruining all of these. Many Countries in the World have gone ahead to forge mutual beneficial mega multi-lateral trade deals - leaving Trump and US out.
In the intermediate and long term, US will stand to lose out --- though in short term, Trump may win some concessions from the Countries it coerce.
Remember US internal market is not the largest in the World - its prosperity rely on the World market. US market is about $18 trillion.
(1) EU market is about $20 trillion. (2) China market is about $18 trillion. (3) Asia Pacific market is aboout $30 trillion in excess.
If Trump think that it can bully and bulldoze its way - US will in intermediate and long term lose big. Worldwide, Countries are getting piss off with the way Trump handle international affairs - and this has indirectly negatively impact US business worldwide - if you still have not know.
Trump is unaware that by triggering tariff war against so many Countries at once ----- it is triggering a price hike in goods and services across the board, impacting many Economic sectors.
The market inefficiency and price inefficiency across the board in so many sectors --- will bring price hikes in many goods and services - that will boomerang and impact American consumers as they will have to pay a higher prices. In addition, US businesses across sectors will have to pay higher material prices, higher intermediate goods prices - which will eventually will pass the higher cost to American consumers ---- a double whammy to American consumers.
Overtime, demand for American goods and services will fall due to higher prices. Domestic demand by US will fall. Overseas demand for US goods and services will also fall ---- who will want to pay a higher prices for American goods and services?
Other Countries will source for non-American goods and services - who have better price efficiency and market efficieny - help by multi-lateral trade deals sealed by the various Countries (minus US).
Over time, US Economy will falter and will be weaker --- Can still Trump make America great again ? The outcome is the reverse --- and all Trump supporters can start to cry --- while the rest will laugh at Trump and Trump's supporters foolishness.
Eg. now the iPhone is sold to US at $1,000 apiece because its source its part from many Countries that offer the best prices with good quality.
Now if Trump insist that all parts must be made in US, iPhone may have to sell to US at $2,000 apiece because all its parts will be too expensive - due to price inefficiency and market inefficiency.
US consumers have no choice but to buy iPhone at $2,000 apiece and cannot buy other brands (because of high tariff levy at other brands).
But worldwide, no one will buy iPhone at $2,000 apiece - but will instead buy Samsung, Xiaomi, Huawei, Sony, HTC etc and other brands that is well below $1,000 as their parts are source from more market efficient and price efficient Countries.
US will no longer be great again - because its Economy will falter and stop growing. Trump will be the greatest sinner for causing US Economy to falter.
Ricky Lim, u may b wrong if u r looking from poorer country perspectives. It’s decades old now that USD is still the reserved currency. Until it is not, then the USA debts may affect USA. Now they can just print n print or qualitatively easing its monetary policies even the euro had followed suit when it was precarious. USA is doing selective tariff restrictions which means SG should b a target too for having unprecedented credits while USA continued to have deficits. The 50 billion USA target against China showed USA had the upper hand. Every one knows if USA goes protectionist, pay day is over for non super powers including Japan n china. So this rhetoric about opening up world trade, globalization etc r only good for all countries but not USA. If I m a USA citizen, I would prefer USA not to b a pay master to b the world policeman. Charity starts at home. Trump is right to certain extent. Only those in USA with vested interests cry foul against trump. Sg n the world must remember, free lunch is over coz USA has a businessman president who smelled the rat long ago n he is intent to make USA great again at least in cutting off free loaders in which Sg is one example to jump on the wagon of the TPP of Obama n previous presidents. This free lunch TPP is gone n now replaced by a selective n restrictive program where trade deficit may narrow in favour of USA if trump stayed long enough to find get off Wall Street guys with vested interests
BTW this is another independent assessment of Trump trade and economic policies - which it deem as "mad". No economic expert so far has supported Trump economic and trade policies including many US economic and business experts.
----
Donald Trump's 'mad economic policies risk world crisis', says ex-Bank of England adviser
Mark Dorman Yahoo Finance UK26 March 2018 View photos President Donald Trump is risking recession in the long-term for short-term gains, warns a leading UK economist (REUTERS/Joshua Roberts) More A former Bank of England economist has warned Donald Trump’s “mad policies” risk sending the US into recession, bringing the global economy down with it. Paul Fisher said he feared the US president’s low tax-high spending agenda will see the US economy overheat. “It is economic madness to think that this is the time to do a fiscal expansion in the US,” he said. “The economy [will] be in a complete mess” in around five years’ time, he predicted. MORE: Is Donald Trump right that trade wars are ‘good’? Fisher said the president’s $1.5 trillion stimulus package is storing up problems for later. By the time the next presidential election comes along in a two years, the benefits from that huge investment will be being felt. However, warned Fisher, the fallout will most surely follow. View photos President Donald Trump signs a proclamation to establish tariffs on imports of steel and aluminum (REUTERS/Leah Millis) More “I can see why Trump might do it – by the time the next US election comes around you will have had the benefits but you won’t have had the costs,” he said. “It is the old stop-go cycle we had in Western economies for years and years.” He said Trump’s policies would almost inevitably see inflation rise, hitting the poorest in America the hardest. A recession could soon follow, he added. MORE: EU ready for a ‘stupid’ trade war if Trump slaps on tariffs Fisher spent 26 years at the Bank of England, five years of them sitting on the Monetary Policy Committee – the group of economists and advisers that set the UK interest rate. A central plank of Trump’s presidency is making “America great again” by putting domestic growth at the top of the agenda.
China urges the U.S. not to start a trade war China is urging the United States to "pull back from the brink" as President Donald Trump's plans for tariffs on up to $60 billion in Chinese goods brings the world's two largest economies closer to a trade war. Sara Hemrajani reports. His confrontational and protectionist style appeals his core voters as he seeks to deliver on campaign promises of “jobs, jobs, jobs”. That has seen him impose steel and aluminium tariffs on EU and Chinese producers as he declared that “trade wars are good”. MORE: Theresa May’s hopes of a post-Brexit trade deal with Trump in doubt as he launches European trade war Both the European Union and China have threatened to retaliate in kind, raising the spectre of an all-out global trade war. Fisher added: “One thing we know from thousands of years of history is that trade makes you rich, and anything that damages trade is probably not a good idea.”
Anyone with some sound economic knowledge and foundation - knows that Trump economic and trade policies is a "suicidal economic policies" - one that kill himself and kill others.
What you have posted and what Trump say - is not based on economic fundamental - but based on "gungho emotion" devoid of economic fundamentals.
Here’s what a top intel chief says is the biggest internal threat to US national security
Brennan Weiss, Business Insider US February 13, 2018
Director of National Intelligence Dan Coats told lawmakers Tuesday that the growing national debt is the biggest internal threat to US national security. He urged Congress to take action “before a fiscal crisis occurs that truly undermines our ability to ensure our national security.” The US national debt is currently more than $20.63 trillion. The recently implemented GOP tax law and last Friday’s budget proposal are projected to add to it.
Trump and his most ardent supporters like you and many others ---- are devoid of financial fundamental, economic fundamental --- just emotional gungho --- ride on the current borrowed, inflated immediate gratification ---- but will spell disaster in the intermediate and long run.
It mean "Trump and you are now living on a "delusional bubble" that everything is well --- but will burst in the near future".
Another thing Trump and his supporters such as Dave have fail to ask --- if US trade is so unfavourable to US --- then why is US the "Largest Economy in the World"?
Dave - pse answer --- if this trade is working in favour or doing US a disfavor?
Trump and Dave did not give the answer - but harp on the trade deficit.
Trump and Dave fail to know that - the small $600 billion deficit - is fueling US internal Economy of $17 trillion - because of the cheaper material prices, intermediate goods and some finished products.
Trump and Dave fail to understand the priniciple of Economics.
Trump and Dave did not know that by meddling with the trade mechanism ---- Trump and Dave will cause US Economy to falter in the near term - because prices will go up and US demand and oversea demand for US goods and services will fall.
Just remember this -- and keep your eyes and ears open - and wait and see.
When US internal demand for US goods and services fall. When the World stop to buy US goods and services due to the artificially, distorted high prices.
Then I guarantee you and Trump that US will stop to become the largest Economy in the World.
This is "penny wise but pound foolish".
Dave - mark my words and remember this prophecy. Wait for a decade to find this truth.
And did Trump and Dave ask why US import so much cheap material, intermediate goods and finished products?
Because US MNCs are setting up alot of plants, offices, etc worldwide - more than any Countries to take advantage of the low prices worldwide, as well as access to the World's market.
Of course US need to import all its cheap goods and services back --- that is why it account for its large trade deficit.
If Trump insist to distort trade and insist on so call "fair trade" - then Trump is shooting himself on the foot - because he is shooting his own US MNCs.
