step up..

Came across this paragraph as i was surfing the net, trying to figure out some things i am supposed to know but i dont really know, because i haven been reading enough..haha

The current financial debacle is really not a “liquidity” crisis as it is often euphemistically called. It is a crisis of overgrowth of financial assets relative to growth of real wealth—pretty much the opposite of too little liquidity. Financial assets have grown by a large multiple of the real economy—paper exchanging for paper is now 20 times greater than exchanges of paper for real commodities. It should be no surprise that the relative value of the vastly more abundant financial assets has fallen in terms of real assets. Real wealth is concrete; financial assets are abstractions—existing real wealth carries a lien on it in the amount of future debt. The value of present real wealth is no longer sufficient to serve as a lien to guarantee the exploding debt. Consequently the debt is being devalued in terms of existing wealth. No one any longer is eager to trade real present wealth for debt even at high interest rates. This is because the debt is worth much less, not because there is not enough money or credit, or because “banks are not lending to each other” as commentators often say.

Extracted from:Herman Daly on the Credit Crisis, Financial Assets, and Real Wealth

Some thoughts during the travel brought me back to a frequent struggle of my inner self. Some stuff i can probably only talk to yanxi about, because he is the only other person that i know is in somewhat the same situation. Stuff which i already have my own answer, only to be subjected to the only constant (change) in this world.

Lotsa ideas, lotsa things that i wanna do, lotsa improvements i wanna make to my life..all the little things, which back in Singapore is simply conveniently engulfed by the enormous amount of workload. Not complaining, just thinking how to sustain such interest when i go back and face reality. There must be a way to balance quality and efficiency, work and play, ideals and realities and many other bipolarities around. I just have to find the best mix. Need some colors in my life..right now (when i was in Singapore) it's too centred around school stuff..have simply been ignoring the other little things in life, which i think i can afford to pay more attention to without much detrimental effects to my results. It's just, back to the same question...

Oh well..that aside..i am getting pay cut? Oo
Civil servants pay shrink

lolx.