Daily Lessons from Life 06 November 2010 - Hu bests Obama in Forbes list of most powerful people

While Hu is worth a mention in this blog on being the most powerful person on earth, I just want to mention a certain Leonard Ong who survived being hit by a truck last year and is now representing Singapore in the Western Australia Triathlon this December 2010 too. I salute his resolve and tenacity to recover and make history! All the best in your race in Perth!

"Hu bests Obama in Forbes list of most powerful people - Sat, Nov 06, 2010 The China Post/Asia News Network

WASHINGTON - Chinese President Hu Jintao has topped U.S. President Barack Obama on the Forbes list of most powerful people, with the magazine pointing to Hu's sweeping powers and the stinging defeat of Obama's democrats in legislative polls.


Thursday, the magazine said Hu was the world's most powerful person, saying he 'exercises near dictatorial control over 1.3 billion people, one-fifth of world's population.'

'Unlike Western counterparts, Hu can divert rivers, build cities, jail dissidents and censor Internet without meddling from pesky bureaucrats, courts,' it said."

I like the reason for rating him over last year's most powerful man, ex-Nobel Peace Prize winner and the 44th and 1st Black African American President, Barrack Obama! That Mr Hu is able to wield near dictatorial control over 1.3B people and can divert rivers, build cities, jail dissidents and censor Internet without meddling from pesky bureaucrats and court!

Lessons learned are:

1. the bi-partisan system of the USA, the self-anointed beacon of the free world and model for rule by democracy, is not solving the issues it is, and indirectly brought to the world, facing very well for now! The QE2 (or Quantitative Easing 2nd Round) just announced by the Fed where it will buy back up to US$600B to continue to push US economy to a strong recovery is causing concerns around the world of letting hot money into the it creating property and stock market bubbles, slowing exports to the USA as USD weakened further, etc;

2. I am not advocating dictatorial style of governing a nation. At the same time, I could not ignore the fact the USA is NOT facing to the root cause of its problems. That it has grown far too accustom to 'spending and spending', on credit preferably. Also, it is not facing up to the truth that the easy money meant to encourage domestic economy are flowing out to the world! I may be wrong but I don't see the USA government and Fed monitoring how the QE2 money should be spent! If they have no way, then it is a lame excuse to credit this huge liquidity and not knowing what it will do for creating US employment!!;

3. my wife said that NO ONE, even if many of the brightest economists and financial experts KNOW the danger and peril and futility of creating liquidity without channelling them to the intended usage i.e. create lending to business domestically that will increase employment and with employment income the consumers can spend again, will want to break this cycle. It is easy money for the financial players and they get CHEAP capital to play the world market! Whether it creates any Domestic Jobs or not if not the point. The point is to make a return that is HIGHER than what it needs to pay the Fed!!

It is a sad situation. Yet, I have to endure it as I am powerless to influence these smart and intelligent people who have the power to determined the fate and future of their own nation through policy making!!

God bless America. And the rest of the world. May we know where to hit when the inevitable happened - USA NOT able to pay their lenders!!