As a matter of fact, I thought I am totally free from the recent global financial turmoil. I do not mean I am wealthy enough to waste some money, but I just DO NOT have any assets to be hurt by the international credit crunch.
However, it was only a couple of weeks ago when I got a bank account report from a Japanese city bank, I recognized the aftermath of the disaster has finally reached me.
I opened a bank account at the bank about 6 years ago to save my bonus payment in euro and Aussie dollars. Why did I put my money there in Aussie? The reason was easy -- interest rates! Initially, I planned to buy only euro with my bonus in Japanese yen. But... all of a sudden...somebody inside me whispered a warning: "Mina, Don't you have to hedge risks? Is euro-only saving good enough for you?"
In terms of risk hedges of stronger yen against other currencies --which would lessen my bank account balance in yen eventually-- as well as to earn better profits via differences of higher interest rates, I decided to put the half of my bonus into Aussie...
Yet, it seemed to be OK until September this year. The unrealized profits of my saving in euro and Aussie increased by 25-30% from the initial capital, thanks to weaker-than-expected yen against those currencies and relatively high interest rates.
But the situation converted all of a sudden under the growing concerns on the global credit crunch triggered by the bankruptcy of Lehman Brothers and other related issues.
The latest account report showed my "Unrealized Losses" are now swelling to as much as 10%; Aussie plunged by 40% while euro weakened by 25% against yen during the past two monthes.
I know it's not easy to earn money...... But I learned now that it's SO EASY to lose money in a instant.
November 20, 2008
November 6, 2008
Has The Change Really Come To America?
Nov. 4 of 2008 will be the really unforgettable day not only for the people in the U.S., but for the rest of the world as Barack Obama has been elected president of the controversial nation, as the first African-American elected to the country's highest office. We were, there was no doubt, one of the witnesses of the historic moment. The speech made by the next President of the United States was surely moving.
As a matter of fact, I was somewhat skeptical about Obama's landslide victory though the U.S. Media expected him to win with a wide margin. As a person who was educated in the U.S., I thought America is not yet ready to have an African-American President. Although I had never felt that I was a MINORITY at school or in the Bay Area, I knew that the place I was from was not mirroring the whole shape of the nation. The reality of the professed nation of the unity is not a melting pot but a large piece of patchwork.
Ominous black clouds still still loom over the country and thus over the rest of the world.
In his speech, Barack Obama declared, saying "The Change has come to America." However in the midst of his supporters' chorus of shouts "Yes, We Can! Yes, We Can!" the next President of the U.S. was standing behind bulletproof glass walls.
It is surely sad and unfortunate to say that there has always been a considerable danger for Mr. Obama to be assassinated. In fact, exit polls showed that about 55% of WHITE American gave vote to John McCain. I can easily imagine that some people would say "Oh my God, The White House is no more the one we loved as it became The Black House," or something like that... In fact, it was only a couple of days ago when some creepy crazy white-Americans plot the death of Mr. Obama.
Moreover, I always wonder whether the U.S. is a real democratic and developed country or not, in terms of the MESS of voting. The election result came out clearly and quickly this time, but the complicated and not functional voting system let people to wait in the long line for hours to cast their votes.
Before dispatching troops to the middle-east and South Asia, the U.S. had better settle down a 'modern election system' not to be supervised by the United Nations election administration committee.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/04/MNFA13RQDA.DTL&type=politics&tsp=1
As a matter of fact, I was somewhat skeptical about Obama's landslide victory though the U.S. Media expected him to win with a wide margin. As a person who was educated in the U.S., I thought America is not yet ready to have an African-American President. Although I had never felt that I was a MINORITY at school or in the Bay Area, I knew that the place I was from was not mirroring the whole shape of the nation. The reality of the professed nation of the unity is not a melting pot but a large piece of patchwork.
Ominous black clouds still still loom over the country and thus over the rest of the world.
In his speech, Barack Obama declared, saying "The Change has come to America." However in the midst of his supporters' chorus of shouts "Yes, We Can! Yes, We Can!" the next President of the U.S. was standing behind bulletproof glass walls.
It is surely sad and unfortunate to say that there has always been a considerable danger for Mr. Obama to be assassinated. In fact, exit polls showed that about 55% of WHITE American gave vote to John McCain. I can easily imagine that some people would say "Oh my God, The White House is no more the one we loved as it became The Black House," or something like that... In fact, it was only a couple of days ago when some creepy crazy white-Americans plot the death of Mr. Obama.
Moreover, I always wonder whether the U.S. is a real democratic and developed country or not, in terms of the MESS of voting. The election result came out clearly and quickly this time, but the complicated and not functional voting system let people to wait in the long line for hours to cast their votes.
Before dispatching troops to the middle-east and South Asia, the U.S. had better settle down a 'modern election system' not to be supervised by the United Nations election administration committee.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/04/MNFA13RQDA.DTL&type=politics&tsp=1
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