The errors of the PM. Part 2. Devil's advocate series 56.

1. The biggest economic misstep is continuing the pick-and -choose-winners economic strategy. 

2. A cabal of crony carpetbeggars will be chosen to spearhead economic growth. Especially for the Malay economy. 

3. A number of people will be given contacts exclusive licences to carry out government business. 

4. A variant of voodoo economics, where it is hoped the economic prosperity so created will produce the desired trickle down effects. 

5. They have not produced that but more of drip down effects 

6. It's a situation like the Malay says, bagaikan enau dalam belukar melepaskan pucuk masing2. 

7. But as Robert Kuok says, the higher the tree top, the more violent the hail and wind you attract. 

8. People don't envy you are rich but they will start asking how did you get rich? 

9. And they will find out you get to be that because of government patronage, lots of it . 

10. We now have bestinet, NexG, monopolistic importer of beras impot, the man who rents out helicopters to the government when it's better for the government to buy and form a company of technicians, companies patronized by khazanah, the companies earmarked for IPOs, GLCs mollycoddled by the government and the list goes on. 

11. The pick and choose winners economic model is here to stay. 

12. This kind of economic strategy creates favorites and a coterie of crony carpetbeggars. 

13. Their prosperity will depend on continued government assists. 

14. The PM has got the basic building block bringing up the economy wrong 

15. Instead of democratizing the economy , he's elitizing the economy 

16. That's the UMNO way of bringing up the economy, especially Malay economy by creating an economic nobility, economic bangsawans. 

17. A variant of voodoo economics. 

18. If our dear PM perpetuates this economic way forward, where is the reformasi? 

19. Where? Where?

20. We must employ the Zaaba way. Build endogenous competencies compete freely on a level playing field.