2010 University Rankings

THE latest ranking of universities was recently released. http://www.timeshighereducation.co.uk/world-university-rankings/2010-2011/top-200.html

Oxford was ranked 6th in the world, NUS 34th. Not surprisingly, Harvard came out tops. Apparently the latest ranking was based on a revised methodology that delivers the "gold standard" in university ranking. I guess there's some truth in it. NTU was ranked 174th - sounds about right.

Looks like I am not the only one who thinks so: http://enquirer.sg/2010/09/19/1021/

Shopping spree

Went to 313 today. Bought 2 pairs of pants from Uniqlo. Quite good value for money. Back to work tommorrow. After a long weekend it's quite a dread. But that's life for you.

Old Friend and Mentor

Got a surprise call from an old friend and mentor for lunch today. He was based in Abu Dhabi for the past 18 months but has now moved back for good. It was really nice to catch up with him.

Causes of the Recent Financial and Economic Crisis

Another take on the causes of the recent financial crisis by the man himself:

http://www.federalreserve.gov/newsevents/testimony/bernanke20100902a.htm

Importing US monetary Policy

Another one of my random charts. It shows how closely the interest rates in Singapore track those in the US. It's not a matter of if but when the Fed decides to raise rates. Likely to be in 2011 or 2012.  That means domestic interest rates will rise in tandem.  Wonder how many homeowners who piled into the recent property frenzy will lose their shirts when that happens.

The close correlation is because Singapore's monetary policy is centred on the exchange rate. The "Impossible Trinity" means that we effectively import US monetary policy since capital is free to flow in and out of Singapore (and MAS manages the exchange rate).

Singapore Property Price Recovery Profile

Following from my gripe yesterday about the sky-high property prices in Singapore these days, I went about examining the property price recovery profile in Singapore over the past 15 years (see Chart). Notice the red line. That shows the recovery profile that is currently underway. The duration is not quite as long as the previous recoveries (yet), but the rate of increase is striking. Property prices have risen by an average of 9.5% each quarter during this recovery, much higher than that in previous ones (see Table). Let’s see if the recent measures will rein in prices. I certainly hope they will.

 

Overcrowding in Singapore?

I came across this well-written piece on the SDP website: http://yoursdp.org/index.php/news/singapore/4086-65-million-part-1.

It highlights the perils of pushing Singapore's population to 6.5 million. Indeed, I can't imagine sharing tiny Singapore with so many people.  As it is, Singapore already feels super-crowded. Trains, malls, roads...everywhere seems to be infested with people.  Oh yes, the property market is incredibly high now too, no thanks to the surge in population in recent times.  I have been hunting for a flat since coming back from my studies but no luck so far. The COV these days always seem to be in excess of 100k. Including the 20% equity, I'll need to fork out close to 200k cash! Sigh, wonder when I will finally be able to find a roof over my head.

Anyway, back to the article. One of the readers, BryanT, argued that since Singapore is a city state it is more apt to make comparisons with other cities in the world. But is that really true? If I can't stand the crowd in Cairo, I can move to Giza. But where can I move to in Singapore? From Pasir Ris to Boon Lay?

My Very First Attempt at Blogging

Ok, I know I am really behind the curve. There are probably more than 10 million blogs out there yet this is my first attempt at blogging. I am not even sure what I will blog about. Economics? Finance? Politics? Hmmm, I guess it will be a bit of everything. Random thoughts as they arise. I am not even convinced I will blog regularly since I am not sure why I am blogging to begin with. Haha.  Wish me luck!