Thursday, 17 May 2012

• Citizens of Europe, please pay heed to this

  Deflation is the greatest enemy. Avoid deflation at any cost. An inflation rate of 2-3 percent is perfect for an economy. This is my advice. I think the policy makers are not foolish. But the legislators generally are foolish on this score. Managing an economy is different from managing a household. For a household, the budget must be balanced. Not so for an economy. All that the leaders have to do is to engineer some inflation, and it is easy to do so. Better to have inflation than deflation (the inflation rate must not be too high of course, for example 2-3% will be perfect).

   

  Now, let us look at the economy. Is the unemployment structural or cyclical in nature? If there is across-the-board unemployment, then it is cyclical. If there is serious unemployment only in one or two sectors of the economy, then it is structural unemployment. Retraining the workers should be the method to solve structural unemployment problems. Increasing aggregate demand should be the method to solve cyclical unemployment problems. The latter requires expansionary fiscal and monetary policies. I think that legislators should focus their attention on the above discussion. (Please also read this: balanced budget multiplier)

   

  According to Wikipedia: "The Nazi Party might never have come to power, had it not been for the Great Depression and its effects on Germany. By 1930 the German economy was beset with mass unemployment and widespread business failures. The SPD and the KPD parties were bitterly divided and unable to formulate an effective solution: This gave the Nazis their opportunity, and Hitler's message, blaming the crisis on the Jewish financiers and the Bolsheviks, resonated with wide sections of the electorate."

   

  Will history repeat itself? (Not necessary in Germany. Will it be in Spain, France or ...?)

  • 11:07 PM
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• 悲民主派的不團結

  大敵當前，包括香港土產的共產黨人 —— 新任香港特首梁振英、聽命北京的財雄勢大的建制派、以及對人權的莫視及侵犯越趨嚴重的祖國，香港就像自由世界的前哨站，隨時會被敵方吞噬，但在這危急存亡之秋，民主派卻不團結，怎能抵抗強大的敵人，看見這情形，怎不令人悲傷？

   

  悲！香港正受到溫水煮蛙的對待，二十三條的威脅越來越大，立法會逐漸受北京控制，西環明目張膽地干預香港內政，所有這些，怎不令人悲哀？

  • 4:45 PM
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• 建制派好陰險啊！

  建制派(連同立法會主席)原來暗中有王牌，現在突然出王牌要終止辯論，立即進行投票。建制派好陰險啊！

  由此看來，香港的言論自由岌岌可危，因為我們不知道這陰險的建制派幾時又出陰招，讓第二十三條獲得通過。

  • 4:49 AM
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• Hong Kong's new administration: curse or blessing?

  Mr. Leung Chun-ying will become the Chief Executive (equivalent to the president of a country) of Hong Kong starting from July 1, 2012. Will Leung’s reign be a curse or a blessing? About this I am very worried.

   

  First of all, Article 23 (an anti-subversion law) is indeed the most worrying. I am worried that Article 23 will be passed during Leung’s reign.

   

  Also, I am really worried that Mr. Leung Chun-ying will repeat Mr Tung Chee-hwa’s mistakes (Mr. Tung Chee-hwa was the first post-colonial Chief Executive of Hong Kong) namely Mr. Leung Chun-ying will not do enough consultation and not enough research before he carry out government policies. I can still remember how the colonial government of Hong Kong before the handover carried out policies. The colonial government always first made sufficient preparation and made extensive consultation and did enough research. There were many Advisory Committees. The most representative research is the research on how to diversify the Hong Kong economy. After finishing the research they published the report on the diversification of the economy. Younger readers may not know this, as early as 30 years ago, the Government found that Hong Kong's economy needed diversification, so in the early eighties they studied this problem. The report recommended the establishment of Industrial Estate, so the Tai Po Industrial Estate, Yuen Long Industrial Estate and Tseung Kwan O Industrial Estate were set up one by one. After the handover, Mr Tung Chee-hwa after taking office, the former practice of the colonial government was not followed. He did not do enough consulting work and a lot of the Advisory Committees were left idle. Neither did he do enough research, and he could not wait to introduce policies. This resulted in serious blunders. This time, Mr Leung may make the same mistake. A case in point is his proposal to reform the government structure. It seems that he has not done enough research before he put forward his proposal. This is exactly what I am worrying about: Mr. Leung is repeating Mr Tung Chee-hwa’s mistakes

  • 4:02 AM
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• 我正在網上聽辯論，鄭家富議員的發言最有說服力。何秀蘭議員，路見不平，拔刀相助，加入辯論，多了一把女聲，令會議更具可聽性。

  • 2:11 AM
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