As this is gonna be a graphic intense website and to be accessed from abroad, I moved my hosting to HostGator which is located in US. I moved my website from masterweb (which is damn slow if accessed from abroad, not to mention their overpriced service). HostGator so far is satisfactory and their servers are fast enough (btw, I have used its service just for 5 days ;p).

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Thanks to the relatively successful General Election, stable financial system, and GDP growth (4.4%) during the first quarter of 2009, apparently foreign investors have relatively positive view regarding Indonesia (not to forget the rampant corruption and terrible infrastructure).

I just read positive tone economic reports from EIU, Goldman Sachs, CLSA Asia, BarCap, and Morgan Stanley. Moody’s also has upgraded the rating of Indonesia from Stable to Positive. Not really agree with all they said, but they are market-opinion maker and in this business, opinion is more important than facts (reality bites!).

I expect under Yudhoyono’s second term, Indonesia will move upward, adding another “I” to BRIC (Brazil, Russia, India, China). By the way, I think “Chindonesia” sounds better than “BRIC”.

Some citations from Bloomberg:

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July 10 (Bloomberg) — Indonesia’s economy is set to emerge a “winner” after avoiding the worst of the global financial crisis, the World Bank’s country director said.

Asia’s fastest-growing major economy after China and India can expand “significantly” more than 7 percent once President Susilo Bambang Yudhoyonofixes the nation’s congested roads, neglected ports and ageing power plants, according to Joachim von Amsberg, the World Bank’s representative in Jakarta.

Faster growth and a “maturing democracy together put Indonesia in an incredibly exciting position to come out as a winner from this global turmoil,” von Amsberg said in an interview yesterday in Jakarta. “It shows that Indonesia is a positive outlier in the world right now.”

Indonesia’s move to increase deposit insurance, boost coordination with the central bank and strengthen bank supervision helped the nation largely avoid the worldwide credit crisis, von Amsberg said.

Asia’s third-most populated country has also skirted recession, unlike many of its neighbors that rely more on exports. Declining interest rates helped boost consumption, which accounts for more than 60 percent of Indonesia’s gross domestic product.

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July 9 (Bloomberg) — President Susilo Bambang Yudhoyono swept toward a second five-year term, receiving a strong mandate from Indonesia’s 176 million voters to take the country’s economy to new heights of growth.

Leveraging that victory into achieving his goal of growth rates on par with China and India will hinge on the ability to build roads, ports and power plants and lure foreign investment. To do so, he’ll have to overcome a bureaucracy where power is decentralized down to the district level across 17,500 islands.

“I would say a ‘definite yes’ in maintaining very solid economic growth, a ‘maybe yes’ to become the 9 percent superstar,” said Milan Zavadjil, Indonesia country head for the International Monetary Fund. “To go to the China level you need to take care of some issues, like major improvements in infrastructure, the investment climate and the legal system.”

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July 11 (Bloomberg) — Indonesia’s economy may double in the next six years as the world’s biggest exporter of power- station coal and largest producer of palm oil taps surging demand from India and China, CLSA Asia-Pacific Markets said.

China, India and Indonesia will generate $10 trillion of wealth for investors by 2015, Nicholas Cashmore, head of Indonesia research at CLSA Asia-Pacific Markets, said in a note titled “Chindonesia: Enter the Komodo,” a reference to the reptile found only in eastern Indonesia. The three economies are Asia’s “next growth triangle,” he said.

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Thais think that I am a Thai as well. Sometimes it is annoying, but the best part is when I could get huge discounts

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1. To form a glorious nation, you must eat using your right hand

2.errr…looks like a ex-waria, I think..:)

3. Almarhum?? This party nominates a deceased person!

4. Mr. Gatot Adi Wibowo (a.k.a BAMBANG) is a close friend of Barack Obama!

5.Who’s the candidate? Arya or Beckham??

6. See the “Golok”?? If you don’t vote for P3, I’ll hunt you down!

7. Super Narcist

8.Me and my pet

9. Left, my Dad. Right, my momma

10. Fans of Black/Death Metal

11. Even Beckham chooses number 23!

12. 5 year old candidate, holding degree in Economics (S.E)

13. Papinya Nia Ramadhani nih…

14. Sayang anak..sayang anak…(jadi teringat pedagang asongan di bus Kopaja)

15. Ahmad Dhani?! Wow, I have to call the infotainments..

16. Yeah! Heavy metal is the law!

17. Love me please…

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Nortel, North America’s biggest maker of telephone equipment, in business for 113 years, filed for bankruptcy protection today, capping one of the greatest corporate collapses in Canadian history. The stock fell 69 percent to 12 cents by 4:15 p.m. in trading today on the Toronto Stock Exchange, for a market value of C$60 million ($48 million).

Nortel’s decision, following the takeovers of Canadian firms such as aluminum maker Alcan Inc. and miner Falconbridge Ltd., means another Canada-based global leader is about to disappear. Now the Canadians only have two world leaders: Research in Motion (maker of Blackberry), and the plane and trainmaker Bombardier Inc.

At its peak in 2000, Nortel had annual revenue of $28 billion and employed about 93,000 people in more than 150 countries. The stock traded as high as C$1,245, adjusting for stock splits, for a market value of C$366 billion, making it the biggest company in Canada. The shares quadrupled in 1999 on expectations the Toronto-based phone equipment maker would benefit from the surge in demand for Internet-based technology. Nortel was a great Canadian company, it employed a lot of people and it was an important part of the economic structure of Canada. The company employs almost 6,000 people in Canada, among its global staffs of 30,000.

Investors blame Nortel management for overpaying for transactions such as the $6.9 billion purchase of Bay Networks Inc. in 1999 and the $5.7 billion acquisition of Alteon Websystems Inc. a year later.

According to a fund manager, the quality of management is what did them in. They went on an acquisition spree during the Internet bubble but they paid over the top for assets and never managed to get rid of the debt.

It’s too bad to see the big guys are falling down, because these are the real movers of economy.

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* In Britain, the Girl Guides issued tips on making sensible economic decisions, including: “Shop around — see which banks are offering the best deals;” “Avoid the debt trap — the easiest way to lose friends and alienate people;” and “Don’t rely on The Bank of Mum and Dad — everyone’s cutting costs.”

* The New York Times, which has long kept its front page clear of prominent advertising, is being forced to sell display advertising on Page One in a new bid to raise money. The first ad, which appeared at the bottom of the front page of Monday’s paper, was for broadcaster CBS Corp. Newspapers across the United States face an alarming decline in ad revenue that has forced many to slash jobs.

* Some Australians may be too strapped for cash to go to the pub, but many still find a way to get their beer. Makers of home brew kits say sales are booming. National brewer Coopers said sales of its kits were up 8 percent since July. Colin Richardson at the The Brew Shop in Sydney said demand for kits was outstripping supply. “All the brewing shops are seeing it,” he said.

* The Church of England published two new prayers, comforting people who lost their jobs and those still in work after a round of cuts. “Hear me as I cry out in confusion, help me to think clearly, and calm my soul,” says the “Prayer on being made redundant.” The “Prayer for those remaining in the workplace” focuses on guilt and increased workload: “In the midst of this uncertainty, help me to keep going: to work to the best of my ability, taking each day at a time.”

* The Washington Post included in its light-hearted list of things that are “out” and things that are “in” for 2009:

OUT: High-end barbecue grills. IN: Crock pots.

OUT: Executive compensation. IN: Executive castration.

OUT: 20 percent off. IN: 75 percent off and free shipping.

OUT: Nostalgia for ’80s songs. IN: Nostalgia for ’80s problems.

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Just few minutes ago I was informed that there’s no more discount program using HSBC card so I had to pay in full. The only eligible card for discount is BRI card. Last week I could use my HSBC card to get the discount at Blitz.

Kinda disappointing. BRI card?? I just happen to know that BRI card is exist! Oh well, maybe I just stick with BCA card and back to XXI.

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Businessweek.com published an interesting article about predictions in 2008 which totally missed its prophecies, so they become jokes. The article can be seen here, it is written by Peter Coy. These are the funniest parts:

1. “A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!” —Richard Band, editor, Profitable Investing Letter, Mar. 27, 2008

At the time of the prediction, the Dow Jones industrial average was at 12,300. By late December it was at 8,500.

2. AIG (AIG) “could have huge gains in the second quarter.” —Bijan Moazami, analyst, Friedman, Billings, Ramsey, May 9, 2008

AIG wound up losing $5 billion in that quarter and $25 billion in the next. It was taken over in September by the U.S. government, which will spend or lend $150 billion to keep it afloat.

3. “I think this is a case where Freddie Mac (FRE) and Fannie Mae (FNM) are fundamentally sound. They’re not in danger of going under…I think they are in good shape going forward.” —Barney Frank (D-Mass.), House Financial Services Committee chairman, July 14, 2008

Two months later, the government forced the mortgage giants into conservatorships and pledged to invest up to $100 billion in each.

4. “The market is in the process of correcting itself.” —President George W. Bush, in a Mar. 14, 2008 speech

For the rest of the year, the market kept correcting…and correcting…and correcting.

5. “No! No! No! Bear Stearns is not in trouble.” —Jim Cramer, CNBC commentator, Mar. 11, 2008

Five days later, JPMorgan Chase (JPM) took over Bear Stearns with government help, nearly wiping out shareholders.

6. “Existing-Home Sales to Trend Up in 2008″ —Headline of a National Association of Realtors press release, Dec. 9, 2007

On Dec. 23, 2008, the group said November sales were running at an annual rate of 4.5 million—down 11% from a year earlier—in the worst housing slump since the Depression.

7. “I think you’ll see [oil prices at] $150 a barrel by the end of the year” —T. Boone Pickens, June 20, 2008

Oil was then around $135 a barrel. By late December it was below $40.

8. “I expect there will be some failures. … I don’t anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system.” —Ben Bernanke, Federal Reserve chairman, Feb. 28, 2008

In September, Washington Mutual became the largest financial institution in U.S. history to fail. Citigroup (C) needed an even bigger rescue in November.

9. “In today’s regulatory environment, it’s virtually impossible to violate rules.” —Bernard Madoff, money manager, Oct. 20, 2007

About a year later, Madoff—who once headed the Nasdaq Stock Market—told investigators he had cost his investors $50 billion in an alleged Ponzi scheme.

10. A Bound Man: Why We Are Excited About Obama and Why He Can’t Win, the title of a book by conservative commentator Shelby Steele, published on Dec. 4, 2007.

Mr. Steele, meet President-elect Barack Obama.

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Illinois governor tried to sell Senate seat: prosecutors

CHICAGO (Reuters) – The governor of Illinois, Rod Blagojevich, was arrested on Tuesday on “staggering” corruption charges that alleged he tried to sell the U.S. Senate seat vacated by fellow Democrat, President-elect Barack Obama.

The governor also tried to extort the Chicago Tribune, one of the country’s leading newspapers, into firing editorial writers who were critical of him, federal prosecutors said.

Caught on tape, Blagojevich used an expletive as he described the Senate seat as something so valuable “you just don’t give it away for nothing.” He said he might even appoint himself if he could get nothing for it, the criminal complaint against him said.

Click here to read full story

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courtesy The Economist. Illustration by KAL

Yeah, the Clintons always appear to clean up Bush’s mess.

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