[Keuangan] The Economics of Ramadhan
Interesting reading - written by a young ITB alumni, with thanks to Sri for forwarding this. -hms- _ From: Srisetiowati Seiful [mailto:srise...@gmail.com] http://rivanroyono. http://rivanroyono.wordpress.com/2009/08/26/the-economics-of-ramadhan/ wordpress.com/2009/08/26/the-economics-of-ramadhan/ August 26, 2009 The Economics http://rivanroyono.wordpress.com/2009/08/26/the-economics-of-ramadhan/ of Ramadhan Rivandra Royono I started fasting at a very young age. Not necessarily out of extreme piousness, but rather because I wasn't much of an eater and was only too grateful to be allowed not to have lunch for an entire month. On top of that, by a five year-old's logic, I believed I was doing my parents a big favor by cutting down expenses for food. That five year-old's logic is turned completely upside down by reality. As a matter of fact, households' expenses in Indonesia, as well is in other predominantly Muslim economies, increase quite significantly during Ramadhan. Apparently, during the holy month, the overwhelming majority of Indonesian households increase their consumption, which pushes up demand, thus increases price. So not only do households buy more stuff, they buy them at higher prices. If there are still people out there who are skeptical that Ramadhan induces higher inflation, governments of predominantly Muslim countries all over the world are certainly not. From Indonesia to Jordan, governments recognize the immense increase in demand and are already rushing to intervene the market by either upping supply or imposing ceiling price. However, even with such relatively massive intervention, the demand shift is usually too significant and higher inflation is inevitable. Indonesian Trade Minister Pangestu already found 11 to 33 percent increase in price of foodstuff in Bandung a day before Ramadhan started. That price increases because of rising demand is basic economics; that demand increases during what is supposed to be the month of frugality is nothing short of an irony. The major culprits behind this demand shift are likely to be the middle and upper classes, who have the means to consume more. What really causes the consumptive behavior is up for grabs. One explanation is that we are all too sensitive to our loss of utility-loosing meals during the day-and overcompensate it by consuming more in the evening and during Ied. A more common term used for this hypothesis is balas dendam-avenging for our loss. Or perhaps it is impulse buying and herding movement-we see everybody else eating out, having feasts with friends and family, and we are compelled to join the wagon. It's quite easy to justify these impulses by saying that it's all in the spirit of strengthening silaturahmi or bonds among the ummat. Regardless of what really caused demand-pushing behavior, what we really need to understand is that the significantly higher inflation during Ramadhan hurts the poor tremendously. Most of them do not work as traders and would not feel the benefit of the inflation. Yet they would certainly feel the impact of increased price, especially of basic goods. Cutting down both quantity and quality of food is often the only option. Worse still, in the effort to reap benefit from the inflation, some traders would be compelled to sell damaged goods at lower price; and they would certainly find buyers. Nearing Ramadhan, officials from Jakarta had raided a number of stalls in traditional markets that sold spoiled chicken and meat. It is the poor who would most likely buy and consume these damaged goods, and later suffer the consequences. To be fair, demand shift and inflation are not the only Ramadhan-induced economic phenomena. While an in-depth analysis of aggregate data is required to validate the following statement, anecdotal evidence indicates that the holy month also brings about increased redistribution of wealth. It is after all the month of charity. However, increased alms-giving, be it compulsory like the zakat or voluntary like the sadaqoh, would only significantly benefit the poor in a low-inflation economy; and as we have seen, this is not the norm during Ramadhan. Coupled with inflation, alms would most likely only help the poor maintain their purchasing power, but not increase it. Furthermore, while inflation affects the entire population, alms tend to be targeted to only small pockets of the same population. Hence, though there would indeed be poor households who received assistance in coping with the inflation, most of the lower class population would only feel the full-blown effect of increased price without receiving significant support from the redistributed wealth. In the light of everything, the middle and upper classes would actually help the poor more by not spending than by giving. So all this leads the Muslim middle and upper classes to two options. If we really wish to help the poor during the holy month,
[Keuangan] vacancy Dosen FE Ubaya
Dear all, Kami FE Ubaya membuka lowongan untuk posisi Dosen, untuk jurusan Manajemen dan Akuntansi syarat: Lulusan Doktor dari Universitas terkemuka di Indonesia dan Luar Negeri Bagi pelamar jurusan manajemen Diutamakan dari konsentrasi Manajemen Pemasaran, dan Operasi. lowongan ini terbuka juga bagi kandidat doktor yang diperkirakan akan lulus paling lambat pada 2010. Silakan mengirimkan CV, surat lamaran, fotocopy ijazah kepada Dekan FE Ubaya Jln. Raya Kalirungkut Surabaya 60293 Phone: 031 2981199 Sebenar ada attachment untuk pengumuman ini, namun sepertinya milis ini attachment dilarang. Bagi yang membutuhkan info lebih lanjut silakan kontak saya, japri. Salam, Putu Anom Mahadwartha visit easy finance: as easy as finance at anomania.blogspot.com Department of Management, Faculty of Business and Economics Universitas Surabaya (www.ubaya.ac.id) Phone: +62 031 298-1139 Fax: +62 031 298-1131
Re: [Keuangan] Pengawasan BI Lemah (KOMPAS tgl1)Mohon Pencerahan
Menurut saya, disinilah letaknya perbedaan kepemimpinan seseorang. Pemimpin harus melihat berdasarkan rasa keadilan masyarakat, kalau keadilan terusik (ada penipuan besar-besaran di bank pemimpin tertinggi harus bertanggung jawab) khawatir mereka kabur ke negeri Jiran yang biasa menampung kriminal koruptor, maka langkah cepat harus diambil. Hukum mungkin masih ada kelemahannya atau karena eksekutornya tidak berani memutuskan tapi rasa keadilan bersifat universal. Pada 2 September 2009 10:45, madjmudin m maj_mu...@yahoo.co.uk menulis: Apakah pernyataan BI dalam menjawab JK, penangkapan RT (owner Bank Century) tidak memilik dasar hukum mengapa tidak memiliki dasar hukum ya? Alasannya apa? http://cetak.kompas.com/read/xml/2009/09/01/0320330/pengawasan.bi.lemah Selasa, 1 September 2009 | 03:20 WIB Jakarta, Kompas - Wakil Presiden Muhammad Jusuf Kalla menegaskan, masalah yang terjadi di Bank Century merupakan tindakan kriminal murni, yaitu berupa perampokan bank oleh pemiliknya sendiri akibat lemahnya pengawasan yang dilakukan oleh Bank Indonesia. dst. Wapres mengatakan, saat Sri Mulyani dan Gubernur BI Boediono melapor ke Istana Wapres, ia telah meminta Boediono melaporkan kasus Bank Century ke Kepolisian Negara RI (Polri).”Saya minta Gubernur BI melaporkan ke Polri untuk menangkap Robert Tantular (pemegang saham) dan anggota direksi lainnya, tetapi BI tidak berani karena mengaku tidak ada dasar hukumnya. Saya ambil alih dan saya instruksikan langsung Kepala Kepolisian Negara RI untuk menangkap Robert Tantular dalam waktu tiga jam. Dalam waktu tiga jam itu Robert akhirnya ditahan Polri,” papar Wapres. [Non-text portions of this message have been removed] [Non-text portions of this message have been removed]
Re: [Keuangan] 2010, Ditjen Pajak Incar Tiga Sektor
Katanya krisis global, tapi target (penerimaan pajak indonesia) kok bisa naik 24% ya? Apa perekonomian Indonesia ( terutama 3 sektor yang jadi incaran ) ngak terkena dampak krisis. Pak Gun , Pak Sabha dan Pak Winarto, Bisa disharing tips untuk mengetahui bagaimana cara (mereka) menghitung target kenaikan penerimaan dan kiat WP untuk mengantisipasinya. Thanks --- http://www.kontan. co.id/index. php/nasional/ news/20840/ 2010-Ditjen- Pajak-Inca r-Tiga-Sektor Selasa, 01 September 2009 | 19:18 PENERIMAAN PAJAK 2010, Ditjen Pajak Incar Tiga Sektor JAKARTA. Naiknya target penerimaan pajak pada tahun depan dalam Rancangan Anggaran Pendapatan dan Belanja Negara (RAPBN) 2010 nampaknya membuat Direktorat Jenderal (Ditjen) Pajak kian fokus membidik sektor penerimaaan pajak. Direktur Potensi Penerimaan dan Kepatuhan DJP Sumihar Petrus Tambunan mengatakan, tahun depan Ditjen Pajak bakal fokus membidik sektor usaha minyak dan gas bumi (migas), pertambangan, dan pertanian. Dia menjelaskan, difokuskannya penerimaan negara pada sektor itu dikarenakan target penerimaan pajak naik 24% dari prognosa penerimaan pajak tahun 2009 yang mematok sebesar Rp 528 triliun. Target penerimaan pajak tahun depan sendiri yang berasal dari non migas ditargetkan sebesar Rp 611,22 triliun. Sedangkan target dari PPh Migas sebesar Rp 30,882 triliun. Dia menjelaskan, asumsi penerimaan pajak pada tahun depan itu sudah menghitung potensi penerimaan yang hilang akibat diturunkannya tarif PPh dari 28% menjadi 25% berdasarkan UU PPh. Kalau belum menghitung potensial lost dari penurunan tarif, target penerimaan pajak 2010 sebesar Rp 649 triliun, sambungnya. Direktur Jenderal Pajak Mochamad Tjiptardjo mengatakan, secara umum untuk mengenjot penerimaan pajak Ditjen Pajak akan melangkah intensifikasi. Alasannya, hal itu merupakan langkah tercepat dan hasilnya bisa langsung. Diluar itu, Ditjen Pajak juga melakukan ekstensifikasi pajak. Martina Prianti -- - save a tree.. please don't print this email unless you really need to [Non-text portions of this message have been removed] [Non-text portions of this message have been removed] _ _ _ _ _ _ The new Internet Explorer® 8 - Faster, safer, easier. Optimized for Yahoo! Get it Now for Free! at http://downloads. yahoo.com/ ca/internetexplo rer/ [Non-text portions of this message have been removed] [Non-text portions of this message have been removed]
[Keuangan] Wall Street ends down for 4th day; caution prevails
SP 500 posting its worst losing streak since late May. NEW YORK (Reuters) - U.S. stocks fell on Wednesday as jitters about the economy prompted investors to unload some shares for a fourth-straight day even after a sharp drop in the previous session. Major indexes fluctuated between positive and negative territory throughout the day before closing in the red, with SP 500 posting its worst losing streak since late May. A labor-market report showing more private-sector job losses in August than forecast made investors nervous ahead of Friday's highly anticipated monthly jobs data from the U.S. Labor Department. The weak data also prompted stock investors to shift some of their money into assets deemed safe such as precious metals, sending gold futures up to their highest level in almost three months. Investors are turning to gold as a hedge against financial malady, said Chad Morganlander, portfolio manager at Stifel, Nicolaus Co in Florham Park in New Jersey.
[Keuangan] Wall Street Merosot Tertekan Data Ketenagakerjaan
New York (ANTARA News/AFP) - Saham-saham di Wall Street merosot pada Rabu waktu setempat, setelah laporan payrolls (daftar gaji) non pertanian AS lebih buruk dari perkiraan, menambah kekhawatiran menjelang data utama ketenagakerjaan pada Jumat. Indeks Dow Jones Industrial Average turun 29,93 poin (0,32 persen) menjadi berakhir pada 9.280,67, keempat kali berturut-turut ditutup di wilayah merah untuk indeks blue-chip. Indeks komposit saham teknologi berat Nasdaq turun 1,82 poin (0,09 persen) menjadi 1.966,76 dan indikator pasar lebih luas indeks Standard Poor`s 500 mundur 3,29 poin (0,33 persen) menjadi 994,75. Indeks utama dibuka lebih rendah dan diperdagangkan dalam kisaran sempit sebelum mengakhiri dengan kerugian moderat dalam perdagangan yang berombak. Wall Street masih terhuyung-huyung dari pukulan-pukulan hari Selasa yang membuat indeks utama terjun sekitar 2,0 persen di seluruh papan perdagangan, kata Joseph Hargett dari Schaeffer`s Investment Research. Data lebih buruk dari yang diperkirakan pada pekerjaan sektor swasta mengangkat alarm jelang data pemerintah tentang pekerjaan non pertanian Agustus yang akan dirilis Jumat. Perusahaan payrolls ADP melaporkan sektor swasta non pertanian AS mengurangi 298.000 pekerjaan pada Agustus, jumlah terkecil pekerjaan dalam hampir satu tahun.Angka tersebut melampaui prediksi konsensus pengurangan 250.000 pekerjaan.
