Just wonder what is in Nicholas Curtis mind in the Church

That is the size of Peninsular Malaysia with respect to the Western Australia Desert where the rare earth mine of Lynas, Mount Weld is located. Lynas was unable to get approval from the Australian Government to have its world biggest rare earth plant at Mount Weld in the wide, very very wide Western Australia Desert that can engulf the whole of Peninsular Malaysia, Singapore and a third Sumatra. Why? Well, the Australian Government cares for her people. Even though Sydney and Melbourne are 2,500km to 3,000km from Mount Weld.



The Malaysian Government gave Lynas 12 years of tax Exemption to have its world largest rare earth plant in this tiny country and the plant is sited next to towns, fishing villages, beautiful beach resorts and Hotels. It is truly madness of the highest order, a world class laughing stock. If the radio-active waste leaked to the sea, it would go with the current to Chukai and all its surrounding fishing villages.



Lynas under its Executive Chairman, Nicholas Curtis, continues to claim that the waste is harmless and can be used to construct road but so far it did not explain why it cannot have its plant at Mount Weld and has to send the raw material 4,000 km to Malaysia for treatment.



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Greece - The worst is yet to come

With the current unemployment rate exceeding 19%, youth unemployment rate at 48%, already 4 years in recession and with the new austerity measures passed by the Greek Parliament on Sunday to cut 15,000 workers in the public sector, to cut another 20% of public sector wages and to reduce minimum wage by 22%, approval for an additional Euro 130 billion to Greece provides just a breather.



Greek economy is expected to contract 4% to 5% this year and Athen Composite Index is currently trading at 776 level, 85% lower than its October 2008's peak of 5334, I really don't think Greece can survive by remaining in the European Union. Ultimately Greece will have to default on its debts and to start printing its drachma.


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Whitney Houston - Dies at 48

A shock to me in a slow afternoon when I heard the tragic news from my daughter.

Confirmation from Guardian, it is true.



After Michael Jackson, another great pop singer with a gifted voice has gone. Many will miss her the way they missed Michael Jackson.








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Costa Rica - Olive Ridley Turtles

An 'Arribada' is a unique nesting phenomenon common to only two species of marine turtles, the Olive Ridley Sea Turtle and the Kemp's Ridley Sea Turtle. This synchronized nesting in mass emergence and by producing large numbers of offspring, these turtles insure their survival even after predations occurs. The secrete is to produce more than the predators can consume.



Some days or weeks before the mass nesting, the sea turtles congregate close offshore. After some days, prompted by some unknown signal, the 'arribada' will begin. A steady stream of turtles will come out onto the beach continuously for the next 3 to 5 days, like an invading army.

Ostional of Costa Rica is one of the only four beaches on the Pacific Ocean that hosts these spectacular 'arribadas'. For 10 months a year, usually around the third quarter of the moon (lunar month), the Olive Ridley Turtles swim by the hundreds of thousands to a single mile of beach of Ostional in an ancient reproduction rite. The largest 'arribada' was recorded in 1995 November when a calculated 500,000 olive ridleys came ashore. With an average of 100 eggs per turtles, that was 50 million eggs that were deposited.




As the capacity of the one-mile beach is insufficient for the large numbers of turtles, 70% to 80% of previously laid nests are crushed or dug up during the subsequent nesting. Bacteria will grow on the broken eggs and contaminate the later nests.

It is for this reason that the Costa Rican Government has legalized controlled egg harvesting to preserve the turtles. Villagers are allowed to harvest eggs laid within the first 36 hours of the 'arribada'.

"Legalized poaching to preserve the species"

In return, the villagers protect the turtle from dogs and vultures, clean debris from the beach and patrol day and night for poachers.





At time when the baby turtles struggle out of the sand and race to the ocean, women and children from Ostional will be at the beach protecting them from dogs and vultures.




Legalized poaching helps stabilized the population of the olive ridley turtles, the most abundant of the world's sea turtles.



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Dow - Will it turns?

Dow has been slowly inching its way towards its 2007 October's peak despite of the financial crisis in Europe. Dow closed at 12,878 on Tuesday, 68 points above point B. 0.53% exceeded, still acceptable as the end of wave 2 rebound.

Is Dow going to turn down from this level? Only time will tell.

In today's news, Germany saw the deepest drop in exports for nearly 3 years in December. French economy is expecting zero growth for the 1st quarter of 2012. I don't think European markets have hit bottom.

However, the optimism that the deal on the second bailout (Euro 130 billion) for Greece can be concluded soon pushes the Euro to an eight-week high and European markets rose between 0.5% to 1% at the opening of Tuesday trading.

10-Year Government Bond Yield

At 32.520 %, hard to imagine.

13.536 % Down from its January 2012 peak of 17.39%.
It is only taking a breather. Watch Portugal closely.

5.576 %, what's next?

5.240 %, may stabilize around 5%

Looking at the bond yields, I don't think the worst is over for Europe, but Greece can be quite close to the bottom.

One more drop after the current rebound should see the bottom for Greece. If wave 4 rebound can reach 800 and wave 5 ends at 400, that is another 50% drop. From 2007's peak of 5334 to say 400, that is 92.5%. If one still holding his 2007 stock bought at the peak, his $100.00 is left with $7.50. Don't play play when you are holding stocks at market's peak. When you need to cut, you have to cut and preserve your capital.


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A Promise to be a caring Federal Government

Lim Guan Eng, "If we capture Putrajaya we will immediately abolish the North-South highway toll."

"We will also abolish toll collections on Penang Bridge."

"BN said it cannot be done. Yes it cannot be done if it is BN."

"But under Pakatan it can be done"

"Pakatan will also hand out Rm1,000.00 cash yearly to all senior citizen, regardless of their race, religion or political backgrounds."

"We will not run away from our promises."

But most important of all I am looking for a Corruption-free and Fair Government.

And

Kick Lynas back to Australia

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BDI - 25 year low

The lack of cargo demand combined with the huge oversupply in capacity, BDI has plunged 60% since the starting of 2012 to closed at 647 last Friday for a 25-year record low.

The low freight rate and idling capacity will add more problems to the European banks that hold about US$500 billion in shipping loans and face nearly US$100 billion in losses to restructure them if shipping companies cannot pay their loans.

And meanwhile most macro-economic forecasters are issuing warnings about a significant slowdown in economic growth for 2012.

In the commodity futures market, the volume traded remains high. But by comparing the volume traded since 2004, one will notice that since 2008 the traded volume has surged suddenly by more than 50% although BDI has plunged.







The sudden surge was due to the excess liquidity and the speculative buying and selling of the future contracts without physical delivery/taking of the commodity traded. Regulator got to stop this speculation in commodity trading in order to reduce volatility and sustained high prices. These financial speculators are the one that causes the high food prices, hunger and the Jasmine revolution.



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