Many Jakartans invest their money in foreign exchange, keeping up with the conversion rates and economy news that might affect one sort of currency compared to another. There are stories where forex investors made it big – the story of the Indonesian who became a billionaire because of investing in the Iraqi dinar pre-invasion – but many times, there are so many factors that affect the value of a currency that it can’t be measured. Hence, investing in forex is often like gambling – you know what the safe bets are, but you might get a bigger windfall if you invest in the more exotic bets. Even more comparisons to gambling arise when results of a day’s work are almost the same, whether you did painstaking research or just threw some money in and sat back while the market rolls.
These guys are no doubt making good money with the US dollar rising and rising compared to the rupiah – at our expense – while the economy slows due to various businesses tying themselves up to the US dollar value, which is surprisingly still considered a stable standard (which it isn’t anymore). Businesses the country over are expecting lower sales of their products, i.e. electronics which are usually based on the market’s US dollar value. In the meantime, it is becoming more expensive to export products overseas, as rates for shipping, handling and customs are pegged to the US dollar as well.
The current scarcity of the US dollar – and thus partly the reason for its rising price – is also indirectly caused by the US economic recession; where individuals and companies are scrambling to get any dollar they can get to revive the economy. It’s strange when the people in the US financial institutions screw up, the rest of the world ultimately winds up paying the price. The perceived stability of the US dollar – and the seemingly endless supply of it – was a big lie, proven by the fact that the US banks seemed to lose billions of dollars, just like that. So now they want their real dollars back.
So instead of us strangling ourselves worrying about somebody else’s currency, why don’t we just worry about our own Rupiah? Here are simple things you can do:
- always buy domestic products. Your money spent should go back to Indonesians, not some overseas investor
- stop forex trading – it just makes matters worse. Start investing in local stock or a local company. Yep, you heard me.
- try to avoid buying stuff that is pegged to the US dollar. I know that sometimes it can’t be avoided, but try to limit it all the same. The stores/companies that put dollar prices on their products transfer the risk of exchange rate differences to the customer.
- take a holiday – in Indonesia. Spend your well-earned Rupiah on local hotels, restaurants and so on. Don’t spend all your money overseas unless you don’t have a choice.
- Save money. If you save money in the bank, the banks stay healthy and keep the Rupiah flowing properly.
Saving the country means you have to do something as well, and these are a few things that are very simple and can be done by anybody. Let’s forget about the politicians battling it out for votes and make the change ourselves
A Jakarta business man is planning to make the one-time home of Barack Obama during his childhood stay in Jakarta, into some sort of cafe/museum. Here’s a thought – what if Obama does not win the presidential election, would people remember his name in 2 or 3 years’ time?When people don’t know who Barack Obama is anymore, would people still come to the cafe/museum?
Earlier today, the Parliement finally passed the controversial and much-hyped Antipornography Bill. Apparently the government thinks that this is an important step compared to fixing the economy or improving education.
Today our country changed – for the worse. And this is just the first step.
For those already playing with thoughts of going off to another, perhaps more reasonable country, let me urge you this – we must not let them win. We must fight, not with weapons or armies, but words, thoughts, knowledge, and communities. The fight for our nation is here.
A comment recently showed up on this blog, in the midst of the ‘vital organ enlargement’ and computer gibberish:
Terrorism is a threat every where. But it’s not the answer.It is advisable to reconsider need to travel Indonesia.Specially Jakarta due to very high risk of terrorist attacks or chances of human kidnapping.While Traveling along Tebet Timur Dalam district is immune for harboring terrorists. One may be caught right in the middle of such activity.Having considered these issues and just the same you decide to try your luck and put yourself in jeopardy. You must exercise extreme caution. There have been recent arrests of high level terrorist operatives throughout Indonesia.It is evident,terrorism is growing to high extreme level in Jakarta and moving slowly but artfully gaining strategy in the north European hemisphere.Terrorist attacks could take place at anytimeTravelers should be particular vigilant during holiday periods of Christmas and Easter time.Indonesian Authorities warned that terrorists may kidnap foreigners. Jakarta is indicated as an area for terrorists hide-out.One particular spot is Tebet Timur Dalam (12820)This place is the sanctuary for the schooling of young innocent Indonesian girls trained to believe in the Jihad.
Could this be true? That an only-girls school teaching ‘Jihad’ in the Tebet Timur Dalam area be a hotbed for terrorist activities in Jakarta and abroad? That it is a prone place for foreigners to get kidnapped? I won’t even talk about the bad grammar. And to think this comment was posted on this post – can’t see the colleration.I only know that Tebet Timur Dalam is a nice neighborhood, full of trees and houses, and locked in by 24-hour traffic jams. No foreigner in the right mind would go there anyway…
This bus certainly has its sights up high – wanting to be the Primadonna of Jakarta roads, complete with a faux ‘Termo King’ (without the H) aircon installation on the top. It’s not what you actually have, but how you perceive yourself that is more important, I guess. We can always dream…
So the friends at @jtug urged me to write about why blogging is important – to me, to anyone else for that matter, who knows.