Rais Yatim naik jobo lagi!

Masyarakat Melayu harus bersatu demi kemenangan Barisan Nasional dalam pilihan raya umum akan datang bagi memastikan hak mereka tidak diketepikan pembangkang, kata menteri Kabinet hari ini dan mendakwa Datuk Seri Anwar Ibrahim “tidak sayangkan Melayu, sistem beraja atau budaya Melayu.” Dalam menarik undi masyarakat Melayu, Menteri Penerangan, Komunikasi, dan Kebudayaan, Datuk Seri Utama Dr Rais Yatim (gambar) turut menuduh negeri Pakatan Rakyat (PR) mengabaikan tanggungjawab terhadap masyarakat Melayu.

Penyakit apa yang mengenai Rais Yatim ni? Apa hal mesti bersatu di belakang UMNO? Apa yang special dengan UMNO Mahathir ini? adakah ianya memberi kita kebebasan bertindak mengatasi undang2? Dalam UMNO kita kena bertindak tertakluk kepada undang2- di luar UMNO pun sama, kita semua mesti operate di bawah undang2. Jadi tidak ada special nya berada dalam UMNO. Perkara yang boleh di perjuangkan bersama UMNO, boleh juga di perjuangkan diatas wadah bukan UMNO. Berada dalam UMNO, adakah ianya memberi kita kekuatan luar biasa? Tidak ada. Jadi kenapa mesti kita bernaung di bawah UMNO yang telah membawa kerosakan kepada bangsa Malaysia?

Semenjak 2008, UMNO telah kehilangan standing untuk bercakap bagi pihak bangsa Melayu. Lebih besar jumlah orang Melayu yang tidak menyokong UMNO.  UMNO hanya dapat 2.381 juta undian. Jika kita andaikan 380 ribu pengundi ketika itu adalah bukan Melayu, maka calun2 UMNO hanya dapat 2 juta undi. Baca sekali lagi- 2 juta undi!

Apa sudah jadi dengan dakwaan UMNO ada 3.2 juta ahli? Ini membuktikan bahawa 1.2 juta ahli UMNO sendiri telah menolak UMNO. Adakah 1.2 juta ini di rundung mala petaka kerana UMNO tidak menjaga mereka?

PAS adalah parti orang Melayu yang lebih Melayu dari UMNO. Maka jika kita guna lojik ekau-den Rais ni, maka orang Melayu are better off menyokong PAS dari UMNO. Amacam? Mari kita pakat ramai2 sokong parti PAS.

Adakah mereka jatuh sengsara kerana tidak menyokong UMNO? Melayu di Selangior, Kelantan, Pulau Pinang dan Kedah tidak pun musnah kerana tidak menyokong UMNO. Inilah yang terjadi apabila mulut lagi pantas dari otak dan inilah yang akan terjadi bila apa yang sepatutnya keluar dari lubang bawah, keluar dari lubang atas. Hanya Rais sahaja yang boleh lakukan perkara ini.

Apa yang kita perolehi kalau berada dalam UMNO ialah rasa selamat kerana berada dalam kumpulan. Safety in numbers. Itu sahaja. Perasaan yang sama di perolehi kelau orang Melayu bersatu kerana meyetujui suatu matlamat. Melayu bersatu dibawah perasamaan matlamat. Orang Melayu bersatu sesama sendiri tidak sama dengan MESTI bersatu di bawah hegemony UMNO. Bersatu sesama sendiri tidak semestinya bersatu di bawah telunjuk UMNO. UMNO tidak memberi orang Melayu matlamat. UMNO hanya memberi alasan untuk segelintir Melayu mengambil kesempatan.

Bagaimana orang Melayu memperjuangkan hak mereka? Tentu sekali bukan dengan bergantung kepada UMNO. Orang Melayu mencapai hak mereka dengan bersandar pada undang undang. Orang Melayu mencapai hak mereka dengan melayakkan diri mereka dengan berkerja kuat, dengan menyokong pendaulatan undang undang dan dengan memutuskan tali pergantungan kepada UMNO. UMNO hanya mengeksploitasi dan mengambil kesempatan keatas amanah yang di berikan orang Melayu.

UMNO telah memudaratkan orang Melayu dengan dasar dasar yang meruntuhkan orang Melayu. Kita ambil contoh layanan UMNO keatas warga Felda.

Orang Melayu FELDA suatu hari nanti akan jadi buruh estet yang menjual hasil mereka kepada syarikat FGV yang di miliki dan di kuasai oleh pihak ke3. Dari memiliki harta dan asset yang boleh di kuasai secara lansung, orang Melayu menggadai masa depan anak dan cucu mereka. Orang Felda yang menyokong penyeneraian FGV adalah pengkhianat kepada bangsa Melayu.

Bagaimana peneroka hari ini mahu mempertahan diri mereka dari di tuduh membeloti kepentingan masyarakat Felda?  Tidak kah kita malu terlompat dan terkinja kinja menerima wang RM 15 ribu untuk sogokan menyerahkan jiwa dan raga Felda kepada bank2 dan perunding?  Dan setiap keluarga hanya dapat RM 800 sahaja manakala pihak lain , yang sebermulanya tidak ada kena mengena dengan Felda, dapat lebih besar dari itu? kamu telah menggadai masa depan semua warga Felda apabila bersetuju menyerahkan segala asset dalam Felda Holdings kepada pihak putar alam. Jadi siapa yang mengkhianati bangsa Melayu dan siapa yang tidak sayangkan bangsa Melayu? 

Bangang punya montori.

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Muhyidin dengan rasa cemas nya, Rais dengan kegentlemanan nya.

Semua orang ketawa bila mendengar Muhyidin Yasin dan Rais Yatim bercakap. Muhyidin menyifatkan PRU13 ini sebagai PRU yang menentukan mati atau hidup UMNO. Rais Yatim pula menasihatkan ketua pembangkang Anwar Ibrahim supaya bersikap gentleman kalau mahu bermain politik di negara ini. mungkin sikap gentleman yang di maksudkan oleh Rais Yatim yang dah naik jobo ini ialah, mahu melihat Anwar di ikat tangan dan di balun oleh UMNO. Rupa2 nya UMNO belajar dari Rahim Noor. Paling mutakhir, Menteri Dalam Negeri yang kurang bijak itu mengeluarkan kenyataan bahawa Pembankang mungkin mencetuskan huru hara dalam PRU yang akan datang. Inilah kenyataan yang paling membingungkan- setakat ini yang mencetuskan huru hara, kacau dan aksi ganas ialah UMNO dan kumpulan yang di taja UMNO. 

UMNO menggunakan tektik2 yang paling kotor dan jahat. Ini menyebabkan rakyat melihat kejahatan UMNO lebih besar dan lebih banyak dari kejahatan Anwar. Juara dan jurucakap UMNO ialah Ustazah Umi Hafilda yang kesana sini dengan jeritan Anwar al Juburi. Cara Umi Hafilda bercakap ialah cara seorang perempuan yang tidak cukup habuan. Dia amat sesuai dengan UMNO yang hari ini jadi pengedar video lucah dan penayang adigan2 porno dalam TV. Jurucakap UMNO ialah kaf lam ya nga- Nalakarupan. Perkara yang  Nala cakap di jadikan bahan sibaran umum oleh media dan TV yang di kuasai oleh UMNO. Inilah budaya besar yang mahu di naungi UMNO. Rosak bangsa Melayu macam ini. Jurucakap UMNO ialah penjual beras Sejati yang tak jati- Hasan Aqidah Ali. Jurucakap UMNO ialah Pekida. Mat Rempit. Dan ketua PERKASA yang tidak perkasa, Ibrahim Ali. Jurucakap UMNO ialah Ezam Mat Nor. 

Saya tidak ada affection apa2 kepada Anwar Ibrahim. belum pun berjumpa dengan nya dan belum berceramah dengan nya. Kalau dengar TV 3/4 dan Media2 UMNO, rasa nya kena pakai cawat besi kalau berceramah dengan Anwar. Anwar di gambarkan akan balun apa sahaja yang berada di hadapan nya. Inilah kerja UMNO yang paling dasyat. Mengaibkan lawan politik dengan isiu yang jika benar sepatutnya di bawa kepada mahkamah. Mereka yang menuduh Anwar dalam mahkamah semua nya tumpas. you have thrown everything at him including the kitchen sink, he is still out there.
Walaubagaimana pun, saya melihat orang ini sudah melalui the worse phases in his life. Walaupun dia di tuduh macam2 , dalam ceramah2 nya, Anwar telah memberi penghuraian dan penerangan yang meyakinkan pendengar. Dan para pendengar nya berjumlah ribu dan puluhan ribu.

He has explained himself quite well. Dan rakyat boleh mempercayai nya. Ini yang membimbangkan UMNO. Dah di balun, dah di jel, dah di aibkan di akhbar dan media, masih di yakini oleh rakyat. Jika setelah dilakukan ini semua, Anwar masih utuh, ia menunjukkan satu perkara sahaja- iaitu Anwar dan Pakatan akan menang PRU13 ini. Tak boleh tidur Muhyidin rupa nya!

Apa UMNO boleh buat, jika setelah sekian lama membalun Anwar bahkan sudah di jel oleh Dr Mahathir, rakyat bersedia memaafkan Anwar kerana mereka melihat kejahatan UMNO lebih besar? Saya rasa Dr Mahathir pun patut berhenti dari menghentam Anwar dan menghormati hampir 50% rakyat Malaysia yang mahukan demokrasi. DR Mahathir mesti menghormati, jumlah orang Melayu yang lebih besar yang tidak menyokong UMNO.  

Kejahatan Anwar jauh lebih kecil jika di bandingkan dengan kejahatan yang di lakukan oleh UMNO. Bukankah mahkamah yang di kuasai oleh UMNO telah pun membersihkan Anwar?

Yang akan mati ialah UMNO, bukan orang Melayu. Muhyidin ini tak baca kah sejarah UMNO? Dalam PRU12 tahun 2008, UMNO bertanding 115 kerusi. UMNO menang 78 kerusi. UMNO tidak mampu mencapai kejayaan 100%. Dengan rekod ini, Presiden UMNO mahu KM Sarawak yang bukan pun ahli UMNO dan yang mempunyai pencapaian 100% berhenti? Orang yang tak ada rasa malu sahaja yang melakukan demikian. 

Ahli UMNO yang telah berhijrah ke pihak cahaya terang, tidak akan kembali ke pihak yang menggelapkan. Jika terdapat lagi penghijrahan 5% ke pihak Pakatan Rakyat- UMNO akan hanya tinggal 58 kerusi. Kalau ada swing 3%, UMNO akan dapat sekitar 71 kerusi. MCA habis kuat akan ada 2 atau 1 kerusi sahaja yang tinggal sebab 80% masyarakat Cina telah meninggalkan MCA. MIC dalam PRU13 ini akan bungkus tanpa satu kerusi pun. Kita tak kiralah UMNO buat man-to-man marking ke, di depan perkerja UMNO orang kata ya, angguk bukan tanda setuju, geleng bukan tanda menolak. 

UMNO hanya mendapat 2.381 juta undi dalam PRU12. Ini hanya 29% dari jumlah jumlah undi sebanyak 7.878 juta. Jika parti2 komponen BN yang lain kecundang, UMNO akan kalah dalam PRU13 ini.  UMNO hanya mendapat 2 juta undi orang Melayu yang berjumlah 5.7 juta. Lebih ramai orang Melayu menolak UMNO. Dimanakah asas untuk UMNO bercakap bagi pihak orang Melayu? 

Kita bercakap mengenai UMNO sebab ia berlagak sombong bercakap bagi pihak orang Melayu. Siapa yang beri kamu hak ini? UMNO bukan jurucakap orang Melayu. UMNO jurucakap orang berfikiran feudal yang ingat mereka boleh picit dan ramas dan tindas orang Melayu. UMNO bercakap bagi pihak golongan elit yang mengaut kekayaan dan memperkudakan nama bangsa Melayu. 

Geng UMNO suka bermuka muka. Kumpulan yang berarak menyatakan sokongan mereka kepada DYMM Sultan Johor sudah lupa bahawa dalam tahun 1997, UMNO melakukan lebih dasyat dari apa yang di lakukan oleh Nizar. Pandangan Nizar ialah pandangan seorang rakyat. UMNO bergerak sebagai suatu kumpulan yang menghina raja2 Melayu dan menggunakan jentera kerajaan untuk membalun raja cukup lumat. Kita berharap raja2 Melayu jangan termakan dengan penzahiran kesetiaan palsu oleh gerombolan UMNO ini. jika UMNO tidak setuju dengan raja2 Melayu, mereka akan melakukan perkara yang lebih dasyat lagi. Lumat Raja2 Melayu UMNO kerjakan.

Berada dalam UMNO memberi kita kuasa luar biasa kah untuk melakukan sesuka hati? Kumpulan yang berdemontrasi di depan rumah Azmin Ali misalnya- adakah mereka berani melakukan demikian tanpa restu dari pihak yang berkuasa? Pihak yang berkuasa dalam hal ini ialah pimpinan tertingi UMNO, Menteri dalam negeri dan Jabatan PM sendiri. Kecuali mereka beri sokongan, dana dan restu, kumpulan ini tidak akan berani melakukan apa yang mereka buat. 

Demikian juga mereka yang melakukan pasar malam di depan rumah Ambiga. Jerit sana dan sini menunjukkan aksi ganas dan menakutkan. Ambiga ini bukan rakyat Malaysia kah? Dia berhak mendapat perlindungan undang2 Malaysia. Yang menjaga keamanan telah bersumpah menjaga dan melindung semua rakyat Malaysia. Polis bukan jaga orang Melayu sahaja. Polis bukan jaga orang Cina sahaja. Polis jaga keselamatan semua orang. 

Otak orang UMNO sudah beku kah? Jika kita tidak dapat berhujjah dengan Ambiga, maka penyelesaian nya ialah mahu melucutkan kerakyatan Ambiga dan menghalau nya dari Malaysia? Ambiga ini rakyat Malaysia yang lahir di Malaysia yang mempunyai hak di bawah perlembagaan yang sama.

Dalam rumah Azmin tidak ada anak2 nya kah? Aksi budak2 suruhan UMNO tentu mencemaskan anak isteri Azmin. 

Kalau kita ada isiu dengan Azmin- hal yang di isiukan adalah dalam bidang mahkamah. Kita tidak boleh bertindak di luar peruntukan undang2. Yang melakukan cara demikian adalah gangster dan penjahat sahaja. Adakah UMNO telah terlalu teruk sehingga terpaksa menggunakan tektik genster dan penjahat?UMNO menggunakan tektik2 seorang pembuli dalam menangani orang yang tidak bersetuju dengan mereka. 

Jadi untuk menjawab Muhyidin, yang akan mati ialah orang UMNO. Orang Melayu telah pun melihat, rupa2 nya, ada kehidupan yang lebih baik selepas dan di luar UMNO. 

Yang lebih kita nak tahu ialah sama ada UMNO akan bersikap gentleman bila mereka kalah dalam PRU13 nanti? Jadi Rais Yatim jangan duduk sibuk nak suruh pihak Pakatan bersikap gentleman- pastikan parti kamu yang berfikiran feudal ini bersikap redha dan gentleman. 

Kalau Rais nak membuktikan ke-gentlemanan nya, maka berikan kebebasan akhbar dan kebebasan media kepada pihak Pakatan. Berikan mereka masa untuk menyampaikan penghujjahan dan penerangan.

Dan jika kami betul2 gentleman, maka jawab lah penerangan dan hujjah Pakatan dengan cara orang yang beradab.

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FGVH Listing: Misery or Windfall?

Every Felda settler is an automatic member of their Cooperative (KPF). KPF owns 51% of Felda Holdings, the business unit that is the rainmaker for Felda. Has any settler asked what happens to KPF after the listing? Where is its 51% in Felda Holdings? 

Did KPF get anything? If an EGM has taken place and delegates agreed to the transfer of KPF’s interest in Felda holdings and in 10 other subsidiaries, how was its stake in FH valued? Where did it go and how much stake does it get in the enlarged FGVH? I haven’t seen any clarification on this matter written anywhere. It’s as though, KPF’s stake has vanished into thin air. Was this the reason Is Samad came up with a statement that Felda has allocated 20% to settlers’ interest to be handled by a trust fund? Will KPF continue to exist? 

Let’s be clear about this. We are not opposed to the idea of the settler receiving RM 15000 per household. The money is probably theirs anyway, derived probably from underpaid previous dividends.  How many times have settlers gone before the courts demanding Felda make good over it’s under declaration of extraction rate on Fresh Fruit Bunches (FFB? Probably over the years, the value of the extra extraction ran into 100 of millions. RM 15k is probably a cumulative backdated under-payment to each felda household (112,635 of them). 

The settler, especially the first generation must think of the future by assessing what they are losing out. There is no way now, second generation Felda settlers can lay claim on the 360,000 hectares of land managed by Felda Plantations. All the land and the assets therein are leased to FGVH for 99 years. While Felda probably gets payments on the lease, the lease rate is revisable every 20 years. They must also be mindful of the fact, that they also lose about RM 2.5 billion a year from earned revenues which are used to manage the felda plantations and provide social amenities. Felda needs RM 3b a year to run its operation. 

If the money comes from the government, this raises another issue. From which source too, it does no matter now. Probably when in London, the PM sold this business of FGVH IPO to Louis Dreyfus and sold 20% of the business and got RM 3 billion. Maybe part of the money is allocated for paying off felda settlers. The SC should look whether all material information has been given by FGVH. I don’t see the sale to Louis Dreyfus in the FGVH prospectus- did it materialize? Or is it hidden under the 23% share under FAHC?

We are therefore left with the question, why is the settler given RM 15k when ordinary kampong folks are not?  The plausible answer is, it’s done to soften settlers up into forcing KPF to agree to the FGVH listing. Then, clearly that is bribery. 

Secondly it’s given to actually soften up the settler when he realizes that he will get a smaller value when the FGVH IPO takes place. He will probably get around RM 810 or even less after deducting banking charges and other fees. 

It’s crucial to put pressure on KPF through the settlers. So when an EGM or AGM takes place, the delegates can vote asking KPF divests its 51% in Felda Holdings as the interests they have in 10 Felda Holdings subsidiaries. Unless KPF divests its 51% in Felda Holdings, Felda only has one portion of the core asset. Indeed the only asset that matters- Felda Holdings. 

Now felda is at again. What we are opposed is seeing the settler believing that this IPO is done to elevate their welfare. This IPO will lead to the concentration of vast resources and power in the hands of a few mandarins. 

After the listing how much will settlers get? 91.2 million shares or 2.5% out of the 3.648 billion shares. Felda employees will get 3% of the offered shares or 109.44 million shares. Settlers and employees get 5.5% of the shares offered. Institutional investors (41%), MITI(11.5%) and the Public( 2%). 

Felda settlers really don’t know what they are getting into. By hook or crook KPF is made to give up its 51% share in Felda Holdings. Felda owns FGV. FGV owns 49% of Felda Holdings. KPF is the 51% owner of Felda holdings. KPF is 30% owned by Felda directly and 70% owned by settlers. So, any which way, Felda is in the loop.  So, all the while Felda and the consultants are the ones planning to wet their massive beaks in this deal. 

As to the settlers, they may well find themselves to be in the same position as they are now. Each year, Najib will come around handing them dividends telling them, this is government money that we are giving out to you because we care for you. We are such a good government because the people are always in our heart. The sad truth is, they may even find themselves receiving less dividend payments if the management at FGV fumbles and earn less revenue or become less efficient. 

Being cooperative members, they get dividends each year anyway. Will they not get their yearly dividends if the IPO doesn’t take place? They will still do. They get miserly amounts. Sometimes the people in Felda Chini in Pekan get RM 400 each after paying off kedai koperasi from where they have taken provisions. So, yes, the RM 15k is much welcome and some portion of the money is used to settle off debts.  

Again yes, the RM 15k is a welcome relief and a windfall. It is the price of future misery.

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FGVH issue, again and again.

This issue is not going to stand down. 

I have to repeat this question. FGVH has not even been listed, the government of the day plans to give a total of RM 15,000 to each FELDA household. The pop gets 5k first, then the mom and finally, junior. Where did the government appropriate the money? Advances from the underwriting banks? From FELDA itself? 

If the money is from FELDA coffers, then the FELDA folks must then be suffering from a peculiar mental illness, the name of which I don’t know. But it entails, a person feeling jubilant receiving his own money but given by another person. 

If the money is not from the listing exercise, it must come from somewhere. So for what purpose was the money given? I have said it many times- Najib’s favorite way is to pay his way through. The FELDA settlers are no exception. Moreover there are 52 parliamentary seats to be won in FELDA areas. Sabah and Sarawak are almost certainly gone. FELDA is now the favorite political fixed deposit. Najib is pre-paying the interest amounts.

And Najib at least knows the Malay mentality- anything given free will be wiped clean. He told this once to me when I complained that FELCRA settlers wanted shares for every member of the family when only per household was meant to be given. So now, he has improved on his delivery system- RM 15k to be divided among pop, mom and junior. That’s representing every member of the family. 

Clearly, this is a financial inducement to FELDA settlers to persuade them to decide in a particular way. Its corruption. If settlers are given RM 15k, what about the ordinary traditional villagers? FELDA settlers are better off than most of them. This government is being selective again. So, intelligent sons and daughters of discriminated villagers go back and tell your parents not to vote for a government that is playing favorites. 

The original idea to list FGV came from CIMB Investment Bhd. It was also aided by Ethos Consulting as joint global coordinator. Probably now, many others have been roped in to become joint coordinators. It’s Don Corleone assembling a gathering of the families from New York, Nevada, Vegas to join in to share wetting their beaks. 

This probably was the source of the idea when Najib announced sometime in October 2011, that he wanted to list FGVH and its related companies.

If he has studied FELDA, he would have not agreed to the idea in the first place. If the idea has always been the welfare of the settlers and FELDA employees as he claimed, the better idea was to allow KPF to buy out FGV completely and then go for listing. KPF can hire a top management team to run the business. FGVH is doing the same too, so managing better is not something exclusive that can be done only by FGVH. Moreover, if KPF has been allowed to buy out FGVH and gains 100% control of FH, the claim that we are looking out for the welfare of settlers and FELDA employees first, would have been more credible. 

The business outfit making money for FELDA is FELDA holdings which is owned by KPF and FELDA (through FGV). FGV is the smaller partner of FH and in theory; the bigger partner offers to buy out the smaller. 

FELDA the authority made a judgment and subjective call- it favored FGV to buy KPF out instead of the other way round. Now, please tell us, based on that decision, which side does FELDA support? The settlers and employees or the corporate marauders? 

The owners of FGV upon receipt of the purchase sum will then do whatever they want in the downstream side of the business or whatever. They can even buy shares in the FELDA Holdings. If that has happened, then FELDA settlers and FELDA employees would have become 100% owner of FH and all assets therein. Moreover, FGVH has no standing to swallow up FELDA Holdings because as a business it hasn’t done well. The last two years profits were probably not enough to cover all the previous losses it incurred. 

It has to tackle one nagging question. After the listing, where would FELDA) the parent company) get money to run its business? It has to pay employees, manage the welfare of the settlements and carry out its social and political responsibilities. It needs about RM 3 billion a year to finance its operations. When the listing takes place, it will be left with RM 400m a year which is not enough to see it through. It can of course operate from the earnings it gets from selling its 49% in FH to FGVH. How much will it get? It will have to use its portion from the listings to pay off EPF debt for example. It borrowed RM 6b from EPF the last time.  And don’t forget , it has to allocate a big amount to the ministry in charge of FELDA to allow the minister in charge to play Santa Claus all over. 

Probably realizing that, FELDA says it will set aside 20% of its earnings from the listing in a new vehicle named Amanah Saham FELDA.  I suspect Aamanah Saham FELDA will become the repository of moneys deposited there (either from earnings of its 20% share in FGV or from direct government transfers) to take care of the usual income which FELDA has now lost. From RM3b to RM400m a year. So when Isa says the Amanah Saham FELDA will use the dividends and earnings it gets to distribute dividends to settlers, that claim is dubious. 

We don’t know whether Amanah Saham FELDA will get 20% from FELDA’s portion of the profits upfront or 20% in the form of shares in FGVH entitling it to get dividends each year later. Will that 20% equity entail getting RM 3 billion a year, we don’t know. Suppose it doesn’t get 3 billion, where will the shortfall come from? It will have to come from the government.  If at the end of the day, the government ends up having to contribute money into FELDA which previously doesn’t need help from it, doesn’t this show the myopia of the government? We can even call it stupidity.

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The `G' in the C+I+G=Y formula

When Kenyesians dan Hayekians debate each other, they don’t debate on the science of economics as a science. As a science which studies the allocation of scarce resources among competing wants and needs, that part is settled. They debate on the bigger issue of how to manage the economy. Keynesians want to steer the economy while Hayekians want to set the economy free.  One side thinks they can plan for others. The other side wants the planning to be done by many as individuals adapting themselves to the free market.

They debate on the efficacy of polices- whether managing aggregate spending or freeing the market is better in order to increase income. Controlling aggregate spending suggest some control over the aggregates- whether consumption, investment or government spending. Who controls them? The answer: The government. Control suggests the omnipotence of government and of course governments all over the world, like to control things.

Hayekians support the free market relying instead on the actions of individual economic actors with motivations and self-interests (what interests the individual) to make the economy work. Free market does not mean free from government involvement absolutely. Rather, government’s scope is limited over a few matters such as keeping peace from within and without. Government’s role is that of an umpire and the umpire must be neutral.

Our government of course supports the Keynesian approach without a doubt. They are adherents to the dictum, we are Keynesians now. But here is where the similarities end. While in western economies, the focus is on actually seeing the economy succeed, the emphasis in our country is different. The focus here is to concentrate steering power into our hands as much as possible, so that in the name of guiding the economy, the state plays the role of allocating resources to who they think can advance the economy.  The state assumes omnipotence stature. And  because of this status, they get to choose who succeed and who fail.

We are digressing too far I am afraid. We can already anticipate the headlines. “We must avoid what happens to Greece. In order to do that, we must spend more. To hell to those who complain of increasing public debt to GDP share. If we cut spending, the economy will contract. The opposition is stupid. They are just following the IMF’s prescriptions”.

What we fear most from the Tragedy of Greece is that, it will be used as justification for more deficit spending. The dependents to government contracts and the tenderpreneurs, the rent seekers will support the government. Greece , Ireland will be used as examples NOT to be stingy but to spend more. It will give a carte blanche for the powers that be to pick and choose winners based on whether the chosen are liked or disliked. The business elite will be celebrating the fall of Greece in anticipation of windfalls from our Santa Clausian government.  

The real issue of restructuring is kept on the backburner.

The basic idea behind Keynes Theory is to spend more to get out from economic slowdown. Mahathir before and Najib now, like spending. They like the G in the C+I+G = Y formula. Najib likes announcing spending plans- when the private sector created a shopping paradise for high end products in JB, Najib was there hailing Premium Outlets as an example of government initiatives. Did that initiative increase productive capacity of the economy? Consumption spending does not create productive capacity of the economy.

When Guocoland announced that it will spend billions to create an Eco city in Sungai Pelik, Sepang, we all feel pelik too, he was there behaving like the midwife delivering a new economic initiative.  Clever, by strategically officiating such private sector initiatives, Najib can be seen as the originator of the business plans. Didn’t I say before- the ETP was just a collection of private businesses business plans adopted by the government as its own National Economic Transformation Plan?

It’s going to be spend baby spend after this. Before FGVH lists, Najib got money to pay settlers RM 15,000 per Felda household. Where did the money come from? Advances by underwriting banks? Loan from EPF? Internal Felda funds? Then it’s the settlers’ own money they are getting and they are jumping up and down in euphoric hysteria.

The missus is now demanding that, the next RM 5,000 installment must be paid directly into her account lest her husband in Felda Chini goes south to Segamat and patronizes one of the massage parlors there. The son will demand the subsequent RM 5000 be banked direct into his BSN account so that he can finally get that Kris Motorcycle he planned to get to rempit on the nice Felda roads.

What happened to Greece will be used gleefully by the pro-deficit people who hate the idea of austerity. Because to them, cutting back on government spending means painful cuts that is hurting growth. Their growth that is. No more negotiated tenders. No more free passages.

That, they say is silly economics. The PM says the economic plans by the opposition don’t make sense. The people must choose between austerity and growth. Let us clarify some of the issues here. The issue here is to curtail public (government spending) but free the people to do the real economic work. Allow them to be taxed lower and give easier credit and capital.

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