Million Dollar Mattress!

Yes you read the title of this post correct! The owner of the mattress didn't fork out one million dollars to buy it, but at the time it certainly valued one million dollars! As the saying goes, "The fool and his money are soon parted". According to the report, an Israeli woman decided to treat her mother to a new mattress, seeing that her mother has been sleeping on the same old tattered mattress for years. So in a bid to surprise her mother with this new gift, she bought a brand new mattress and threw out the old mattress. Little did she know that her mother had been hording her life savings in her old shabby mattress, approximately one million dollars in savings! Surprise! By the time all this was revealed, the mattress was no where to be found as it seems the garbage disposal truck had already done its rounds.

Now when I heard this news I couldn't help laughing! Something in the far back of my mind was saying I should be sorry for this old lady, but I find it hard to be. In this day and age, this lady is still storing money in her mattress! What, hasn't she heard about a bank, or or other investment options? I understand she is old, but come one, one person can be so daft to have not ten thousand, not one hundred thousand, not two hundred thousand, but one million ratid dollars in her mattress! I know banks and investments are somewhat unstable these days, but having money in your mattress is not better off. If a fire broke out in that house all the money would be up in smoke! If there was an earthquake all of that would be covered in the roubles! And if the mattress got thrown out... wait, yeah, see the mattress got thrown out with all that hard earned life savings!

The family, with the aid of the authorities have launched a massive search for the missing cash at the city dumps. However, they are not alone, as a large throng of concerned... yes concerned for themselves... citizens have joined in to find the million dollar mattress to increase their own wealth. According to the report the family is yet to find the missing mattress and I am sure by now some lucky bastard is a million dollar richer.

Moral of the story: Invest your money wisely and don't keep your money in, or under your mattress... especially one million dollars!

Source: http://edition.cnn.com/2009/WORLD/meast/06/10/israel.mattress.money/index.html

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More Tax!!!

Benjamin Franklin once said, "In this world there is nothing that is certain except death and taxes". This saying is so true and especially here in Jamaica. The country has one of the highest murder rate per capita in the world, so if old age or disease don't do the job, then the criminals will send you to your final resting place. As for taxes, the Jamaican working class is burdened by taxes and now since the 2009 Budget presentation yesterday, we are now bracing to feel an unprecedented increase in taxation.

The biggest announcement of the Budget presentation was the increase on the petrol tax. the Government has announced that it will be adding JM$8.75 on each litre of gas purchases at the pump. No doubt motorists will start to feel the pinch similar to last year when oil prices skyrocketed to record breaking levels. Currently I pay a little over JM$57 per litre for gas, which based on my engine size costs me approximately JM$2850 to full my tank. With the increase tax, keeping the ever increasing price of gas constant, I will be paying JM$3287.50 to full my tank, over JM$400 more. No doubt motorists will be feeling the pinch when this new tax comes into effect, but the commuters will also feel the pinch as I am sure the bus and taxi operators will start calling for an increase in fares to offset this increase in their expenditure. I am now beginning to think more about getting myself a bicycle to ride to work. Think about it, won't need to by gas and I will get fitter as I pedal my way to work. But seriously, this is a huge dent in the pocket of motorists, especially since the price of gas is increase every week as our dollar devalues on a daily basis and the gulf oil reference increases. The government has said however, that a potion of the money collected from this tax is to go into road maintenance, but I won't hold my breath on that one!

But the taxes don't end there as the Government has announced other increases to fill the huge JM$18 billion hole in their budget. The government has also zeroed in on the already high 16.5% General Consumption Tax (GCT). They have proposed to place GCT on certain basic consumer items that currently don't attract GCT, such as salt, rolled oats, syrup, fish, cock and noodle soup. As if going to the supermarket and markets aren't expensive and stressful enough, it is to get worse when thise tax exempted items begin to attract GCT. Going to the supermarket has just got harder for everyone.

The Government currently charges 20% GCT on telephone bills and credits, but they have proposed to expand this 20% GCT tax to the phones themselves. Yes, once approved you will be paying not 16.5% on that new Blackberry handset, but 20% on the already expensive handsets. I guess we will now think twice about buying that new bashy cellphone and start appreciating and taking better care of the phone we now have.

I expected an increase in taxes, but these increases are rough, especially the gas tax and the addition of GCT on food items that now don't attract tax. I was hoping that the Government would have increased taxes on cigarettes, alcohol. I was also hoping that the Government would have increased the taxes on all those imported biscuits and cookies and products that we can produce locally. Of course they would have to lower the production costs for the manufacturers, but at least we would be producing and maybe even exporting some of our products, thus earning the well needed foreign eschange. But, the wolrd economy is in a bad state, and the Jamaican economy is in an even worse state. My fellow jamaican's it looks like yet rougher times are ahead, so band your bellies and prepare yourselves.

Source: http://www.jamaica-gleaner.com/gleaner/20090424/lead/lead1.html

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Another Weekend and Camera on My Mind

WOW! Can you believe it's Friday already? The week just flew by so quickly. They say time flies when you are having fun, but I don't recall having any fun during the course of this week and look here, is Friday again already! It seems as if it was just yesterday I was in pain, agony, discomfort and just plain miserable as I suffered from being poisoned by that awful canteen food, and that was exactly one week ago. I think I have said this before, but I will say it again... well ask it again also. Does it seem to you that time is moving faster now than say 10, 15 years ago? Well, it certainly seems and feels that way to me. It's as if I don't have enough hours in the day anymore and behold, there I see old age right in front of me snickering it's shiny dentures at me we wide open, sagging arms. Like is too short star!

With the view of life being short, and defying the economic gloom and doom around me I have set my eyes on getting a new camera. What! A new camera Stunner? Why, is the one you have broken? Doesn't it take good picture? Yes I anticipated those questions so let me tell you why I want a new one. Well, by now you all should know that photography is my passion and I love taking pictures; scenery, people, insects, animals, abstract, the whole works. But the camera I now have is a point-and-shoot and does not give me the flexibility to experiment as much as I want and to improve my skills. So I think it's time for me to upgrade to a Digital Single Lens Reflex (DSLR) camera, which, I believe with practice and reading, allow me to step up my photography to the next level. So what do I have in mind? Well I have my eyes set on the Nikon D60 DSLR camera. Based on the specs this would be perfect for an amateur like me. The only problem is that the cost is over $US500 (over $JM40,000 and counting), not too easy to come by in these harsh economic times. But this is my passion, something I enjoy doing, and I might just be able to make some money from it in the future... I hope. So I have decided to get it, yuh kno treat myself at least.

Another weekend is in full swing already, but I have no plans for this weekend but to get some rest and recuperate from the week's activities. Speaking of which, even though I did some running this week, but I did not feel accomplished, as I relapsed. Yes, I fell back on my progress of 2 miles last week and one one of the days could only run a half mile. I feel like a failure, failure I tell you! In fact most I did was to run one mile on Tuesday, but despite my disappointing performance this week I am determined to do better next week. I hope to do my 2.5 miles on Monday, so I'll let you know how that goes. Well, let me not keep you any longer, go enjoy yourselves and have a great weekend... however short it is!

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Walk-Foot

On Monday afternoon, I finally parted with my long time friend and travel partner. She was there for me through rain or shine on good roads and on bad roads. But at sometime, even though you have a good relationship, in relationships like this there comes a time when you have to go your separate ways. And I think that time had come, it was time for my new vehicle. So I decided to finally sell my 1998 Honda Civic Ferio and trade in for a 2004 Honda Civic VTI. I know I said before that I wanted the newer shape 2005/2006 civic, but with this salary that just would never be possible. And with that in mind, I do what I have learned to do in my two plus decades of life, lower my expectations for the time being. Even though at nights I dream endless dreams of owning one of those civics on the wide open road. [Sigh] But this will have to do for now, I definitely can't go up into that two million dollars bracket!

So, I am now officially a "walk-foot" (Definition, a person without their own mode of transportation) as of Monday afternoon. I just can't picture myself taking the bus once again, the thought of being squashed by a big fat woman, rubbing up against sweaty, musky people, standing and swaying as the bus drives and stops and worse of all enduring those "bus preachers" shouting on the top of their voices scares the hell out of me! But it's good to have coworkers that drive and to live in a central location. I get to sponge off on them for a ride to and from work. Only problem is that I have to work with their schedule and I pretty much am stuck at home.

I hope to have the new ride by this weekend and I am pretty anxious to jump around that steering wheel and rev it out on the open road! And even more anxious to have my freedom of movement! So until then I anticipate getting my new ride.

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Brake Up! High Prices Ahead!

Remember my grand dream of buying myself a 2005 new shape Honda Civic? Will I guess it it still and will continue to be only a dream, as the price tag certainly put some brakes on my car buying plans. Our week Jamaican dollar coupled with the increase in import duties have caused the the car prices to skyrocket. This is further compounded by my weak salary and the salary increase that seems to be eluding me.

I have been checking out the prices of the 2005 new shape civic and it has been one heartbreak and disappointment after the other. I have been looking online at Japanese export websites and even those prices seem out of my reach as the average estimate (my own calculations that is) is $1.7 million! If you think that is bad, you need to hear the used car dealer prices. I went to a used car dealer to investigate. So I went to a particular dealer near to my home even though I didn't see any on display. To my surprise they had one stashed away at the back, so I went with the sales rep to drool uncontrollably. There it was, in it's glory, glistening in the sun, it was beautiful! So I dared to ask the price and I was certainly slapped with the response of $1.95 million! Can you believe it $2 million for a three year old, used vehicle!

My friends my car hunting seems dismal as my dream has become a nightmare filled with the haunting of high prices. But the search continues, hopefully there will be a beam of hope in shining through these dark clouds of high prices. The search continues...

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Rich Bitch!

Everyday I read the news about American rich people and celebrities I get pissed. The latest is the case of New York real estate mogul Leona Helmsley and her pooch Trouble. According to the New York Post, Helmsley died and left her dog with a $US12 million trust fund! What the hell! How the hell does someone leave a mutt a $US12 million trust found? It's a damn dog! This creature doesn't know how to appreciate $US12 million, he can't invest it into real estate, buy flashy cars or go shopping for designer clothes! However, this crazy woman deiced to instead of using this money for a worthwhile purpose that would benefit so many people, yes humans, who are suffering and in need of some financial help she decided to give it to a dog. But wait, it gets better, or should I say worse!

Trouble does not stay in a little kennel like most dogs, oh no, this pooch lives in a 28 room Connecticut estate! [How much rooms does your house have?] If you think you pamper yourself and enjoy the finer things in life at times, you are wrong my friend. Why? The estimated cost of caring for Trouble, which includes security, medical care and grooming, is well over $US300,000 a year! [How much money do you spend on yourself a year?] And get this, no Pedigree for this bitch as Trouble chows down on meals prepared especially for her by chefs!

It appears that Trouble has made herself some enemies and have been receiving death threats. As a result, her paid caretakers have taken several drastic steps to protect this rich bitch. Trouble was flown by private jet with her security team to a Helmsley property in the Sarasota area, which I doubt is less that 10 rooms! While at her hideout this 4.5 pound dog is guarded by a rotating security team!

Now things like these just rally get me ticked off! No it's not bad mind, (hehe... well maybe a little) but all this is just ridiculous! So much money being spent on a dog! And so many people out there suffering, including yours truly! The sad thing is, I'm sure other rich people and celebrities waste tonnes of cash on their pooches, including the biggest coke head Paris Hilton. Is it that the richer you get, the crazier and dumber you get? Is it that the ore money you get the more dumb things you find to waste money on? Dem tings here just mek man cross star!

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Money Wars - Cash Plus vs Commercial Banks

It seems the hottest topic in the news here in Jamaica is the financial civil war that has erupted in the past few weeks! It is such a hot topic that it has even almost overshadowed the Local Government Elections that will be held shortly.

Of late many more ordinary Jamaicans have opted to invest their hard earned money in high yield alternative investments schemes in a bid to earned tangible interest on their principals. One of such investment companies, is the locally popular Cash Plus Limited. This investment company is one of several high yield investment companies that have been termed as risky and unregistered investments entities by the local commercial banks. But why have the ordinary Jamaican, despite the many warnings, leave the apparent safety of the commercial banks to gamble their hard earned money in such risky investments?

Well, my answer is just a layman's answer, not the reliable comments of a financial analyst. Times are hard, many Jamaicans are grossly underpaid, inflation is growing at an alarming rate, the dollar is devaluing every day and the same commerical institutions are offering little or no help to the ordinary Jamaican. But why would I say the commercial institutions are not helping? Well if we compare the the interest charged on loans with the interest paid on savings, there is no wonder why the top management of such banks can get seven digit salaries while your money seems to be growing only from your own input. I may be corrected on this, but the average interest paid on savings rarely goes above six percent per annum, while the interest charged on an ordinary almost never fall below seventeen percent per annum. There is no wonder why an interest rate of ten percent per month would seem attractive enough to take a risk!

As a result, many Jamaicans have taken the leap of faith and have been withdrawing their savings and deducting from their monthly commercial bank savings to take a leap of faith and invest in Cash Plus. This has definitely not gone down well with the leading commercial banks which have launched an all out assault on these alternative investment options, including the famed Cash Plus! It seems the commercial banks attacks started with harsh warnings to the public, which escalated into pressuring the government to act, however, these actions have seemed to do little to quench the publics fire for Cash Plus. This would not deter the banks as the have resorted to dishonoring checks to and from institutions such as Cash Plus and OLINT, considering closing the accounts all accounts relating to these "unregistered institutions" and reports are that they have even gone as far as threatening their own staff if they are found to be investing in entities such as Cash Plus. However, Cash Plus has been vigorously attempting to assure its investors that this latest move by the banks will no bring the company and its subsidiaries down, through the printed media and mass meetings and have begun to explore other means of paying their investors their returns. [read story]

Who will win this war? Will the banks succeed in bringing down these investment companies, or will companies like Cash Plus and OLINT grow ever stronger? Will the banks actions reestablish themselves as the investment option of choice or will their actions bring an unwanted backlash? As the missiles fly across the battle field, only time will tell. What are your thoughts on this financial war?

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