Islamic shool

Name:        CHAN, Sin Fong

Subject:     Islamic School

Visit Time: 29/05/2008 1:51 AM

Remark:

Many Christian churches run Sunday school. Can the Muslims do likewise? After that being said, will the residents in Camden oppose a Wesley College or Trinity College be constructed on the proposed site? I don’t agree with those residents declaring the rejection of the school plan as a victory for "decency" (whatever it means). I consider that It as a “victory” of naivety and ignorance.

The Muslim community in Camden should not treat this as a matter of racism. It is just common human nature. Human beings are territorial and full of suspicion. People divide their countries into states and territories, suburbs, cities, and streets. Not many people welcome intrusion by outsiders. There are enough movies showing how human beings can be so easily frightened by landing of foreign (Martian) spacecraft on earth. Closer to earth, we don’t welcome foreigners coming within the territorial waters uninvited.

RBA and interest rate increase

Name:        CHAN, Sin Fong

Subject:     RBA and Interest Rate Increase

Visit Time: 29/05/2008 12:41 AM

Remark:

One of the key determining parameter used by the Reserved Bank of Australia (RBA) to increase interest rate is the inflation rate, which is derived from the consumer price index (CPI). The CPI is calculated based on a "basket of goods". The rising price of petrol has a flow-on effect on other items such as utility, transport, foods, wages, etc. These items, plus petrol are all included in the basket of goods. Using prices to determine inflation rate is rather illogical and nonsensical.

The higher prices, through no fault of the consumers, should not be considered as inflation. Redefinition of the word inflation based on increase in quantity consumed instead of money expended seems to be fairer and equitable.

The action taken by the RBA Board to increase interest rates for the past few months may help to dampen demand in many sectors, but the longer term impact may lead to business closure, loss of employment, rise in marriage / family breakup, mental and psychological suffering, theft and burglary. In addition to its main responsibility in determining monetary policy, and maintaining financial system stability, the RBA should also take on board social consciousness.

The methodology employed by the Reserved Bank of Australia’s (RBA) to increase interest rate can aptly be described by the acronym GIGO – garbage-in-garbage-out.