Category: Economics

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Economics Humor

[525] Of crisis of the pockets

I’m a person that always carries a camera with me; that one pocket filled. Then I bought an mp3 player and bring it to almost anywhere with me; another pocket filled. Usually, I put in my keys along with the mp3 player on the same side of my pant.

I wore a pant with three pockets yesterday. My wallet made the third pocket full.

And then I bought a cell phone. Never really wanted it nor needed it until I moved to an apartment 14 floors scaling up the charming blue May sky that was plagued with December cloud and wind just a few days earlier. The apartment has everything but a phone. So, I figured, I needed a phone. Well, my friend had some influence in that decision but that’s not the point.

When I received the phone from the sales representative, I found something odd was happening – I was out of pockets! It might be just a problem of the uglier sex; I don’t know about the fairer one. I don’t think girls have pockets at all, all the time; or at most maybe just two pockets, most of the time. No pocket. It must be sucked to be a girl-wearing-dress. Boy, it’s hard to not to digress.

Anyway, moments after that awkward moment, I realized that I had with me too many gadgets. I usually bring a couple electronics with me and in the future, I would probably carry more along – laptop, PDA, crab, crap – all the stuff that I plan to purchase soon. Hence, this crisis of the pockets hits hard on me.

Why this is a crisis?

Imagine this – increasing demand for pockets with a constant supply of it. This could only mean one thing – shortage of pockets! I should be paying for more pockets. Heck, I should kill for more pockets!

I’ve come to one conclusion – I need cargo pants and a small bag for future cool gadgets. Pant with three pockets is obsolete. Demanding to wear a three-pocket pant in the light of increasing number of fun stuff is bad. Actually, it’s not too bad stuffing all in that three pockets. It is uncomfortable nevertheless.

I need a pocket subsidy to finance my more-pocket plan. But of course, there is no such thing as a pocket subsidy, or is it? If there is, I should well damn take it. If those people back in Malaysia can have their oil subsidy, I want my pocket subsidy too!

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Economics Environment Politics & government Pop culture Sci-fi

[524] Of The Economist and oil

Exactly a year ago, Paul Krugman wrote an article entitled The Oil Cunch. He started off with:

Before the start of the Iraq war his media empire did so much to promote, Rupert Murdoch explained the payoff: “The greatest thing to come out of this for the world economy, if you could put it that way, would be $20 a barrel for oil.” Crude oil prices in New York rose to almost $40 a barrel yesterday, a 13-year high.

Rose almost to $40 per barrel; about a year later, it is hovering more or less above the $50 per barrel benchmark. There was a time when lots of people thought $50 per barrel has too much fantasy in it. Now, nobody dare to question the $60 level too much.

The Economist latest edition has oil has its main focus. From one of its articles, it is clear than the team at The Economist doesn’t approve the plan to drill ANWR. The magazine bills such action as “This is mad”, or was it “This is madness”.

I agree so much that this is madness. Drilling the nature reserve in Alaska won’t alleviate the current crisis. The drilling return on investment won’t come immediately and by the time the extraction hit full speed, given the increasing global demand and little sign of slowing demand in the near future, oil from ANWR won’t be able to make a noticeable impact. It won’t make a lasting impact at all.

Believing the act of opening ANWR would relax the oil price is similar to believing one is Superman; able to stop a speeding bullet train by standing in the middle of the track, head to head.

The only solution is renewable energy. Or nuclear. We need to act now. Oil won’t last forever; renewable will.

p/s – I’ve come to a conclusion that The Economist is environmentally-friendly.

pp/s – can you feel it?

Because I do.

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Books, essays and others Economics Liberty Photography Science & technology

[519] Of freedom to arms

I made the following posting on ReCom.org and thought, hey, I’ll post this on my blog too. And thus begun the Clone Wars have. =p

About a year or so ago, an assault rifle ban introduced by the Clinton administration lapsed. Many predicted an increase in crime with the ban lapse. And it has been a natural experiment ever since. My econ professor said during the day of the lapse, America is a great country, but it’s a weird one. With the regression analysis of firearm on crime in mind, I agreed with him then.

However, despite the prediction, according to NYT here (reg. req.), crime has not risen, at least not significantly from what I understand from the article. Really surprising to me and it only strengthens my opinion on the freedom to arm. Do note however that the assault rifle ban was somewhat ineffective because it banned a subset of firearms.

I’m kind of divided on whether we should have free access to firearm (or at least easily obtained license like those of vehicle licenses) or we should ban firearm from the public altogether. One part of me thinks we should be allowed to own firearms (I’ve held a “senapang patah” a few times but never fired it) or we should all be happy with the current status in Malaysia.

In my opinion, if all private citizens were to be allowed to arm themselves, then those bag-snatchers, thieves, etc would have to think twice or thrice before they act. Furthermore, to those who are in love of CS, Quake, Doom, etc, shooting is fun! You must agree!

At the same time, I’m a green and I find myself quite irritated seeing another hunting season on the horizon.

In the light of this finding by NYT, what is your opinion on freedom to arm?

Nevertheless, I’m quite ignorant of the current firearm status in Malaysia. If anybody has some info to offer, do share it.

This is a modified version.

p/s – presenting to you, two presents I give to me (yes, I’m that sad).

I chose Creative Zen Micro over IPod because:
1. Everybody has an IPod, or two. I want to be different.
2. Zen Micro, for USD 220 offers 5 GB of space, FM radio, recorder (able to record radio broadcast and voice!) and the best thing that IPod lacks, replaceable battery!Behind the mp3 player is my left hand. Behind my left hand is Rifkin’s The European Dream. I found out about the book from Boris. I’m currently reading In Praise to Slowness. With all due respect to Carl Honore, despite some appealing ideas, my economic sense disagrees with many of the author’s points.

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Economics Sports

[514] Of Malaysia and the American trade deficit

Did you know, Malaysia ranked 7th as countries that contribute to the American $60 billion trade deficit?

The first place is China’s of course, contributing half of the deficit – $30 billion. Malaysia is attributed with almost $3 billion.

It’s interesting to see how the dots connect. And I wonder, does Malaysia have a trade deficit? I have to look that up.

I do know however, Malaysia has an huge budget deficit to GDP ratio; if I recall correctly, larger than the US. This is one reason why I find Malaysia is weird – in the US, the deficit is giving everybody headache; in Malaysia, almost nobody gives a damn.

Maybe because, the people in Malaysia care more for the establishment of moral police rather than maintaining and improving sound economic performance. Given that, it’s surprising to see Malaysia as one of the tiger economies.

p/s – to all Liverpool fans, aww, shut up and quit telling me that you guys are in the semifinal. Let me be with Ajax…

As such, w00t! Feyenoord lost 1-4 to Den Bosch. Pity Ruud Gullit but w00t! Ajax stays third and is making ground for second place!

pp/s – who am I kidding. Malaysia is an export-oriented country. Trade deficit. LOL!

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Economics Sports

[512] Of lovely economics

I have nothing much to say. All I wanted to do by posting this entry is to highlight an article entitled Economics Often a Bundle of Contradictions.

WASHINGTON – Buying binges by consumers and companies can power the economy yet catapult the trade deficit. A weaker dollar can help U.S. manufacturers but hurt American shoppers. Rising home prices can give a homeowner a sense of wealth and make a house hunter feel cash-strapped. These are just a few of the apparent contradictions of economics.

Now, you know what I learn in macroeconomics. Well, part of it.

Fair use. AFC Ajaxp/s – after a string of bad performance and news, Ajax seems to have find it form in the last two matches.

Today, Ajax drilled 4 goals behind second placed AZ Alkmaar. AZ earlier this week won its away match against Villareal and making them closer the UEFA semifinal.

With Ajax’s win, the team has returned to the third place, with one point behind AZ. However, Ajax has played an extra game compared to both AZ and Feyenoord. Feyenoord, currently fourth in the Eredivisie, will play Ajax next week. Ajax need to at least draw with Feyenoord in order to stay third and keep a sensible gap with AZ. Else, no Champions’ League for us.

PSV is first and has possibly secured the Dutch crown.

pp/s – w00t! Somebody from Bloomberg actually replied to my job application. We’ll see what’s going to happen from here.