Saturday, October 14, 2017

No spin could deny transformation bearing fruits


Mention IMF and World Bank, the first thing that come to our mind is the book, Confession of an Economic Hitman.

Despite our prejudice towards these two international body, latest revelation on the forex trading loss by Bank Negara Malaysia shows the currency crisis was not entirely an international conspiracy to impoverish the country as Tun Dr Mahathir said in the eye of storm as he pass the blame rouge currency traders.

Economic reports published by these two international bodies carry a lot of weight. It is pointless and could be detrimental to ignore their advise and recommendation.

The Edge and The Malaysian Insights tried to spin the good report on Malaysia in the World Bank semi annual report. Though it fair comment to hear other view, even if it is politically motivated, it is another story to propagate fake news.

In The Mole latest column, That political spin on the World Bank report, the writer express his concern below:
To accuse the financial daily and news portal of committing economic sabotage, it is an emotional response. But, when negativity is widely propagated, it could ricochet back to the economy and be a self fulfilling prophecy.
Read on to hear him debunk and touch the various issues regarding rising prices, tax reform, youth unemployment, budget deficit, national debt, GDP and growth rate.

Tuesday, October 10, 2017

Shafie, proxies, and cronies should be charged for treason!


The big story since end of last week must be the long anticipated arrest of those linked to Warisan Presidant and former UMNO Vice President, Datok Shafie Apdal.
 
MACC Commissioner, Dato Azam Baki claimed some RM1.5 billion of the allocated RM7.5 billion infrastructure allocated for basic infrastructure of road, water and energy for the interiors of Sabah and Sarawak for 2009 to 2015 was squandered.

Azam's figure would likely be those projects in which MACC could verify from documents. However, the figure could be an underestimated since MACC only consider suspected projects with evidence.

On the ground, corruption is rampant and the denial of basic amenities for orang kampong is widespread.

According to sources, described as Shafie Watcher, the actual amount could be significantly more. The modus operandi involves payment for supplies or constructions not made but verified by other agencies within KKLW.

In places like Tenom, it was found there were four set of water pipes installed but still no water. Solar projects awarded to crony companies at rate of RM230-250 per kWH with a year guarantee but tender at RM30-40 per kWH with 5 year guarantee rejected.

On average, the squandered money could be 80% of the RM7.5 billion budget allocated. The more realistic estimate should be RM6 billion!

Thursday, October 05, 2017

The "zaman Tun" layman should remember ...


KAMI RINDU ZAMAN TUN

Oleh Rio Rashid (Facebook)

Kami rindu zaman Tun,
Ketika harga teh 'o' ais ikat tepi 80 sen sebungkus,
Nasi goreng ayam baru RM1.50 sepinggan,
Cuma gaji kerani RM380 sebulan, sebelum ditolak EPF,
Kerja kilang RM415 termasuk OT setiap hari,
Kalau nak gaji lebih RM1000 sebulan, pergi jadi buruh kasar di Singapura.

Tuesday, October 03, 2017

Bodoh Fucked-up Moron (BFM) interview of Bruce Gale


BFM had an interview with Bruce Gale, economist and writer of Najibnomics yesterday. Someone messaged yours truly early so we were able to hear on the radio. Thanks to YouTube, one can hear the interiew:


Unfortunately, the interviewer was not talking economics but trying to steer the discussion into politics. And, the only political issue it could raise was 1MDB. If it is current and factual, it would have been fine. He was talking based on perception!

Talking about going out of topic and lack of intellect. Did the dude actually bother to read the book?

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