Chinese New Year Eve

I am writing this blog from Tokyo. If I remember correctly, I had always had reunion dinner with my family. This year is exception but I will still be back for the CNY. My daughter is in Paris on a study tour. Just wondering if this is the way in the future. We live in a globalised world and Singapore a global village.

Today is the last day of the Year of the Rat. Certainly, it was not a good year for me where finance and health is concern. 2008 was fraught with financial catastrophe of first degree. The wreckage to the stock market was almost absolute which left me sitting on a pile of paper losses. Thankfully, my prudence has saved me from devastation others had suffered. I honestly feel this is a sad and unmitigated loss. It was collateral damage for me when the excess of the American capitalism unfold and collapse into total financial mayhem, dragging the whole world along with it.

Though I will love to welcome the Year of the Ox, but I am not excited at all. The Ox may be even worst then the Rat. As financial news flow in each day, there is nothing but bad news and it seems to get worst and worst. There are rescue packages, stimulus packages, resilience budget and so forth coming out from every governments of the world, but the outlook is just bleak. Only the politicians can masquerade with a confident face, hopefully to shore up confidence, if there is any. The best investment this year is 'just do nothing'.

There will be a paradigm shift in the economy. Financial market will never be the same again. The good days for the banks are over. It will be back to basic for investors, to earn a small and reasonable returns will be good enough.

For workers, not getting retrenched or pay cut is by itself a bonus. We can be more sanguine and realistic and accept our place in the workplace as a privilege and not a right. I love my job and will cherish every moment whether on duty or nightstop overseas

My wish for the Year of the Ox is to be happy and healthy, and my children do well in their education and my wife is successful in her business venture.