Here are my responses to the excellent article written by Pirates of PuteraJaya in response to the Greek Tragedy. That article must never be treated as endorsements of Mahathirnomics.
Dato,the Greek tragedy is like the dependents of Umno,the ones who needs crutches,tongkats and wheelchairs.
The leaders of Greece and the smaller countries in the Eurozone are like the dependents of Umnoputras.You screw my ass and we have your babies,become your mistresses and you have to pay us.
Those smaller countries are not that advance and productive.And being in the Euro makes their goods much less competitive.So being unproductive and unable to compete they needed handouts.Just exactly as those dependents that are keeping Umno in power.
They are there to lick the asses of Germany,who wants to be the economic power there.So the handouts from the ECB comes mostly from their main contributor,Germany.
In other words there are in the Euro for all the wrong reasons.The same as the dependents who rely on Umno to scratch their backs,and in return have their asses lick.
Dato,the Greek tragedy is part of the PIGG'S coalition,now famously known as the European Financial Crisis(EFC).But the EFC is not in full blown effects yet.More is yet to come,but it will all depends on the ECB,with the backing of Germany,France and the world's financial community.
The US is watching,but remains quietly on the sidelines,with tons of money to pump in if neccessary.They cannot afford a collapse of the Eurozone as the major banks there and in the US will go to the dogs.If they go so will the rest of the world.
Mahathir is out saying that it will have no effect on the country,as it will be an European affair which is pure BS.The EFC with have many more times the kick of the AFC.Malaysia will be just like a prawn caught in the trap.
Just like he blamed the currency speculators for the cause of the collapse of the ringgit.What Dr Mahathir refused to admit is that currency speculators do not contribute to a country's currency depreciation or forced devalueation.
The outflow of the country's currency by local smart money is the cause.Maybe the local smart money was following the outflow of large illegal funds by corrupted politicians and their cronies.Large continuious outflows of a country's currency caused a trend.The trend of the currency to going lower.
Once a trend has been established,then come the vultures for the kill.The doctor,his family,cabinet members and their cronies are part of the willing participants involved.So to blame others when they are part and parcel of the problems is the easiest way out.
Nice parody. I don't think economic absolutism works; Limited government - aka deregulation and gov action (fannie/fredie/welfare) was the main causes of the economic crash in 2007-8. But the main cause was deregulation - see energy dereg with enron, and repeal of glass stegal and effects on the subprime/derivative issues.
Austerity is good but not excessive - especially with slow gdp growth; And in Greeks case, what was most revealing was evasion of paying income taxes was quite high and retirement benefits were quite lucrative.
What is the balance between government action and market forces - probably differs from country to country; but ethics in business and politics is uniformly required for long terms economic sustainability.
what greek tragedy? it's soon gonna be a felda tragedy. apparently the fgvh ipo will be managed by the same crooks reportedly to hv caused losses in the much hyped fb ipo. luckily fgvh will be hving lots of assets to sell-off
Wow,Sak that is an exellent story and I fully agrees with you.Najib's economics is only talks and sloganeering only and as if plucking from the thin sky,no explainations is need ,as he know most Malaysians don't understands economics.Using the privates sectors and existing prolects and lump in one BIG multi billion so call ETP or colorful words TRANSFORMATIONS is nothing but just hogwash and you know Najib is well known to be an untrustful PM (liar?)
Dato,the Greek tragedy is like the dependents of Umno,the ones who needs crutches,tongkats and wheelchairs.
ReplyDeleteThe leaders of Greece and the smaller countries in the Eurozone are like the dependents of Umnoputras.You screw my ass and we have your babies,become your mistresses and you have to pay us.
Those smaller countries are not that advance and productive.And being in the Euro makes their goods much less competitive.So being unproductive and unable to compete they needed handouts.Just exactly as those dependents that are keeping Umno in power.
They are there to lick the asses of Germany,who wants to be the economic power there.So the handouts from the ECB comes mostly from their main contributor,Germany.
In other words there are in the Euro for all the wrong reasons.The same as the dependents who rely on Umno to scratch their backs,and in return have their asses lick.
Dato,the Greek tragedy is part of the PIGG'S coalition,now famously known as the European Financial Crisis(EFC).But the EFC is not in full blown effects yet.More is yet to come,but it will all depends on the ECB,with the backing of Germany,France and the world's financial community.
ReplyDeleteThe US is watching,but remains quietly on the sidelines,with tons of money to pump in if neccessary.They cannot afford a collapse of the Eurozone as the major banks there and in the US will go to the dogs.If they go so will the rest of the world.
Mahathir is out saying that it will have no effect on the country,as it will be an European affair which is pure BS.The EFC with have many more times the kick of the AFC.Malaysia will be just like a prawn caught in the trap.
Just like he blamed the currency speculators for the cause of the collapse of the ringgit.What Dr Mahathir refused to admit is that currency speculators do not contribute to a country's currency depreciation or forced devalueation.
The outflow of the country's currency by local smart money is the cause.Maybe the local smart money was following the outflow of large illegal funds by corrupted politicians and their cronies.Large continuious outflows of a country's currency caused a trend.The trend of the currency to going lower.
Once a trend has been established,then come the vultures for the kill.The doctor,his family,cabinet members and their cronies are part of the willing participants involved.So to blame others when they are part and parcel of the problems is the easiest way out.
Dear Sir,
ReplyDeleteNice parody. I don't think economic absolutism works; Limited government - aka deregulation and gov action (fannie/fredie/welfare) was the main causes of the economic crash in 2007-8. But the main cause was deregulation - see energy dereg with enron, and repeal of glass stegal and effects on the subprime/derivative issues.
Austerity is good but not excessive - especially with slow gdp growth; And in Greeks case, what was most revealing was evasion of paying income taxes was quite high and retirement benefits were quite lucrative.
What is the balance between government action and market forces - probably differs from country to country; but ethics in business and politics is uniformly required for long terms economic sustainability.
According to one REPORT the Singas could get sunk - kena langgar Greek todak!
ReplyDeleteSome Malaysian banks there could get committed to the same shit.
So what would the smart ass have to say for Budget 2013?
what greek tragedy? it's soon gonna be a felda tragedy. apparently the fgvh ipo will be managed by the same crooks reportedly to hv caused losses in the much hyped fb ipo. luckily fgvh will be hving lots of assets to sell-off
ReplyDeleteThanks a lot Dato' for the mention. Its indeed an honour.
ReplyDeleteWow, what an excellent video
ReplyDeleteI thought the songs are nice. there is also Bernanke lookalike.
ReplyDeleteWow,Sak that is an exellent story and I fully agrees with you.Najib's economics is only talks and sloganeering only and as if plucking from the thin sky,no explainations is need ,as he know most Malaysians don't understands economics.Using the privates sectors and existing prolects and lump in one BIG multi billion so call ETP or colorful words TRANSFORMATIONS is nothing but just hogwash and you know Najib is well known to be an untrustful PM (liar?)
ReplyDelete