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Thursday, May 1, 2008
Found a interesting video about Monopoly. Haha Click on this link: Monopoly truths
Oh anyway today is the First of May. Guess what? While we are having holiday, thousands across various parts of Asia are engaged in May Day Rallies to protest against rising food, fuel prices etc. http://www.straitstimes.com/Latest%2BNews/Asia/STIStory_232954.html. Go to this link to find out more.
What has caused such mass rallies across Asia? Basically this is due to the rise in fuel price, which has almost hit a near US$120 last month. The implication of such was prices going up everywhere especially food prices. This sharp rise in price of commodities has resulted in Indonesia's annual inflation rate to reach record high of 8.17 per cent in March. In addition, it has led to growing unhappiness among many people, especially the low-income group. Most are unable to cope with the increased cost of living. Thousands of workers who took it up to street today requested for an increase in minimum wage to help them tide over the tough period of high inflation and stagnant low wage. In my opinion, such calls for a legislated wage hike are justified more than ever with the rising cost of all products, utilities and services. Workers are hungry and happy because of government's callousness in alleviating this economic crisis. Failures to implement suitable economic reforms, price controls and relief measures amid soaring prices are also one of the reasons. Thank gods that we have a much more efficient and capable government! Even though we are facing similar problems, the pressure that we faced in Singapore is a lot less than what others in Philippines, Indonesia and Thailand are facing.
