Rail-volution: Move over private transportation

The next day after his appointment as Transport Minister, viral on social media are photos of Anthony Loke unassumingly riding the public train. He has since been seen riding and inspecting the rail facilities on few more occasions. 

His regularity invited nasty social media comments calling a political show. Putting aside the snide remarks, Loke is sending the message that his main concern is public transportation specifically the Klang Valley. 

Had they known that Prasarana operation lost RM13 billion and building the MRT3 will cost up to RM80 billion, the commentators would have been more judicious. 

Scary as it maybe, the Klang Valley population is about RM8 million (2020), which is 24.5% of Malaysia's 32.7 million (2021) population. 

To understand the Greater Klang Valley, one need to look beyond Sepang, Rawang, Putrajaya and nearby areas to include as far away as Bentong, Seremban and Ipoh. 

Not another effing Sheraton-like move!

This blog's Monday posting to reproduce Edge Weekly article entitled "Will Malaysia avert a recession in 2023?", was meant to highlight that the economy was the priority for new Prime Minister, Dato Seri Anwar Ibrahim. 

High on his list of priority is to avert a cost-of-living crisis for the low- and medium-income voters, and the fear of stagflation. 

Political stability is a key factor in addressing these economic issues. Thus there should not be frequent changes of government, be it at state or federal level. 

Agong impressed on this, thus the reason his Majesty insisted on a Unity Government as solution to the political impasse from the absence of any party holding a majority. 

This message some how did not jive with certain Sabah politicians, which sadly involved certain factions of the ruling parties in the Unity Government.  

Will Malaysia avert a recession in 2023?

By Cindy Yeap / theedgemarkets.com 

December 26, 2022 

The prognosis for global economic growth is grim as 2022 draws to a close. Talk of the world being on the brink of a global recession and economic stagnation has gathered voice in recent months. 

That’s not to say recession is certain, even though major central banks in December signaled a willingness to risk growth and forge ahead in raising interest rates further to bring down inflation. 

Whether the glass is seen as half full or half empty, at this time last year, no one foresaw Russia’s attack on Ukraine and the impact it would have on commodity and food prices globally, or that US interest rates would rise so much and so fast in the effort to reign in runaway inflation. Back then, inflation was “transitory” and rates were supposed to stay for longer, remember?

At this juncture, what’s certain is that government and policymakers around the world have to be able to whip up practical solutions fast to ensure their people and economy can weather whatever is coming. And what is practical is closely tied to a country’s fiscal and monetary space. 

In the midst of quantitative tightening, is the world dumping the dollar?

The rest of the world is catching on to the easy monetary policy of the West. The BRICS nations are developing a new reserve currency that is likely to be backed by commodities and possibly gold. If this BRICS currency emerges, this is bad news for the West and the U.S. dollar, says Alasdair Macleod, head of research at Gold Money.

Read Macleod's writing: https://www.goldmoney.com/research

Three months ago ...

Can the elasticity for chicken supply and demand be modified?

Taken from Tik Tok 

According to the economic definition: 

"The price elasticity of demand is the percentage change in the quantity demanded of a good or service divided by the percentage change in the price. The price elasticity of supply is the percentage change in quantity supplied divided by the percentage change in price."

Economic Minister, Rafizi Ramli denied asking people to stop buying chicken but diverting the subject to the elasticity of supply and demand for chicken is the same thing. 

Rubber chickens are elastic but not the live ones. Basic food items are usually inelastic. The supply and demand is not sensitive to prices to a certain extent. 

The days yours truly was growing up, fish was the cheapest and most easily available source of protein. Chicken was considered a luxury consumed during kenduri, weddings and Hari Raya festivities. 

It has since replaced fish.

(Whoever wins) it will not be easy

Nungsari Radhi / The Edge Malaysia

November 21, 2022 11:30 am +08

When this essay is published, it would be the eve of voting day for the 15th general election. While we are uncertain at this point as to who the winners will be, one thing is for sure: governing Malaysia in the coming five years will not be easy. How the government performs will be crucial in determining whether we continue on this gradual downward slide or make the turn for the better.

A crisis, any crisis, is part of a journey, whether for an individual or a nation. That is quite normal. It is how we handle a crisis that is crucial in determining whether the path onwards is better or worse. Whether we are made better or worse by the crisis. 

That experience has been somewhat worrying for the Malaysian economy. We have recovered from economic crises before, but lost some vigour afterwards. This was quite clear after the 1997/98 Asian financial crisis where growth rates since then have never come up to where they were before the crisis. It was as if the wind was taken out of our sails.

Thanks Fahmi for lifting ban

The World Cup is over. The vote of confidence for new government was formally passed uninamously passed yesterday. And this blog is long overdue for an update. 

Despite being blocked by MCMC since May over a posting already taken down, it is still updated for readers abroad and with Internet able to by-pass the block. Usually it would be updating the mirror blog, Thick as a Brick than replicated on this blog.  

To this blogger's surprise, the blog could be easily read by the public at this Starbuck cafe. If so, thank you Fahmi Fadzil for lifting the 7-month ban.