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?

Najibnomics is about doing what was necessary at the cost of any potential political problem.

For the of political animals like Tun Dr Mahathir, it had always been politics before fundamental. His achievement by-passed fundamental thus are short-lived, unsustainable in the long term, and not comprehensively thought out which was meant for mere media photo op.

Read past posting on Bruce Gale's book: Mahathir, eat your heart out..

Despite few shortfall and weakness, Najib is more serious in his effort to put the right economic, social and political building block for nation building and rakyat's long term welfare. This truly need telor (balls),  not the macho bull spewing insult so unbecoming of a elderly and statesman..
One comment received was in Malay:
Kita semua sedia maklum bahawa Business FM (BFM)  antara radio yang banyak mengkritik dan memfitnah kerajaan.

Sewaktu memandu pagi tadi, BFM telah menjemput Bruce Gale,  penulis buku Najibnomics untuk satu sesi temubual berkenaan polisi-polisi ekonomi yang dilaksanakan oleh DSN. 

Seperti biasa,  BFM melontarkan berbagai soalan yang berbaur provokasi dan cuba mencari kelemahan Bruce Gale,  tetapi mereka silap, Bruce Gale dengan mudah mematahkan hujah-hujah mereka,  malah Bruce "menyekolahkan" mereka dengan hujah-hujah yang sangat mudah. saudara/i boleh download audio di bawah untuk mendengar sesi temubual tersebut. Temubual dijalankan dalam Bahasa Inggeris.
Cambridge trained lawyer Lukman Sharif commented in his wrote in his FB:
This is simply a must listen for those who want to have a proper and balance perspective. It's an interview by BFM of Dr Bruce Gale. Dr Gale is author of Najibnomics. I initially thought it was commissioned by BN and didn't pursue it. My Bad. But apparently it's independently written and that's why he could defend it very well at BFM. Tan Ju Han was persistent throughout pummeling him on 1MDB issues but he was able to answer without much difficulty. Have a listen and it's worthwhile.

I expect BFM being a business radio to have a firm grip on business and economy. But what is surprising is that BFM Tan Ju Han seems unable to see the forest for the trees; unable to distinguish partisan spins. He complains that Gale has no depth but I find its him who is very myopic. His questions are no different from the questions I encounter from non-economists or lay people numerous times. Many people think every problem in the country relates to 1MDB. Everything without exception. And if you go detail with them it actually has nothing to do with 1MDB pun. 1MDB cannot solve any problem pun save for itself yet they claim it relates from MAS purchase to EPF investment to national debt and even GST. Thus if you ask what's the reason they think Airbus is a better fit for MAS than US Boeing, they have no clue at all. It's merely parroting a hate narrative.

Similarly here with Tan. He seems to think every economic issues revolves around 1MDB notwithstanding there's a much more bigger problem pointed by Gale. Gale stated the contingent liability of the govt guarantee in 1MDB is just RM5B compared to other government guaranteed projects/loans of 175B. And despite this, our debt GDP ratio is less than 60% below than many other developed countries. That is why according to Gale when 1MDB had issue of repayment recently no rating agency downgraded us. It's insignificant to the total sum. In other words we have blown this out of probation saying that our economy will go dire or become "bankrupt". These are extreme false propaganda.

What is particularly disturbing is when tan suddenly pay scant regard to a much more serious repayment problem of a much more bigger liability than 1MDB eg PTPTN. Tiba2 issue of default becomes not an important issue and being justified by Tan. Apalah BFM Tan ni. No consistency. If you're not worried about the economic impact but purely the accountability or criminal impact, don't lah pretend and raise this in the discourse. It's so telling.

Addendum: a comment below says Tan is normally playing a role of taking opposite end. I don't follow BFM and unable to affirm this. But from the repeated questions from him, he does not appear to be able to distinguish the forest from the trees.

Please click on the aid.rastream.com below for the interview. You need to wait a bit for buffering. Alternatively you can go to the site https://www.bfm.my/bg-bruce-gale-author-is-najibnomics-good…
Next time read first and not be too obvious in your propaganda. Here is one more acronym for BFM ... Bodoh Fucked-up Moron.

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