A Tale To Tell & Remember

I'm very much inspired by the words of Thomas L. Friedman in his book "The World Is Flat" which renders about the influence of bloggers in this new age. I want to keep the highest integrity and honesty in posting my words to the world. This blog act as a testimony to my alacrity of sharing information with the borderless world. Hope we can share a high regards of veracity and chivalry with this blog because that's why it is here. So help me God!

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Monday, 10 November 2008

Perseverance

Preseverance of the blessed

Updated:-

11 November 2008 - I just came back from the Central Bank briefing on the current economic situation - the effect of the global financial crisis. Central Bank tends to differ with my opinions that according to their officials our fundamentals are very strong. According to Central Bank, there are four prong actions taken by the world governments to stem in the negative effects of the global meltdown. They are:-


  • Monetary policy
  • Fiscal stimulus
  • Bank bailouts
  • Crisis prevention measures (i.e. banning of short selling, preventing FDIs' pullout, just to name two)


According to the CB officials, even though we had problems with our palm oil and rubber international demands, but the domestic banks are not affected by the U.S. banking problems which this advantages will ensure banks to continue introducing loan products to the domestic consumer. I hope they are right because I'm not amazed by the briefing given when on the reality basis I saw our consumer had stopped spending like pre-sub prime crisis.


10 November 2008 - I'm still sceptic of the world's effort to free oneself from the ailing global economy. The worlds' governments are currently busy to introduce stimulus packages just to keep the economy kicking via the good old day’s fund that can be found by the publics' pension funds. If you ask me whether that is the right thing to do, I think there aren’t much option left by our policy makers to create an environment of optimistic market despite the stark reality of global meltdown i.e. the losing up of daily jobs.


How far and how long can we stand ignorant is one thing to handle within ourselves when all the big companies such as DHL and Ford/ General Motors had announced their inability to surmount this ripples effects of the worlds financial waves. I'm predicting that if the new elected U.S. administration decided to punish those that were responsible for this mess in the States then small countries like Malaysia had no options but to use these available capitals for a massive infrastructure programmed that will stem the slowdown of the domestic economies at least for three years.


We need to identify infrastructure projects that will benefit the publics in a massive scale as this will create an optimistic feeling at least in real estate business – real estate is a huge factor for an optimistic investment market. Remember our current fundamentals (rubber and palm oil) basically aren’t selling in the worlds' trade. But we were still blessed by these citizens' savings and huge pension funds. Can we still persevere during this hard time is left to the right fiscal policy implemented by the policy makers. Good luck and God bless to all of you. 

 

2 comments:

afif said...

You're a paranoid

Would you just sit and calm down and let the market fix things?

See, global oil price keep dropping down lately due to Mr Market, and no any human intervention needed to make it happen

We are having tough time now and you're suggesting more cosmetic public projects that will cost taxpayers the money that they much needed in times like this?

Deficit budget? The government will borrow most funds to finance the deficit from local sources and thus directly competing with local businesses in securing loans. And of course the local firms will lose out to government, and now they have less much needed loans to keep their business afloat. Then the government controlled Utusan, Berita Harian, and TV3 will blame and demonize private firms for the increase in prices and unemployment. What a bastard Keynesian way of healing the economy!

The immediate beneficiaries of public infrastructural projects are not the hardworking citizens in both public and private sectors. The kontraktor Melayu aka usahawan bumiputera aka kroni UMNO aka incompetent businessman aka RENT SEEKER! are the ones who will snatch the profit margin from projects. And don't tell me these people will contribute anything good to this nation.

Public project will boost national employment? Hey, those contractors mostly hire Indon labors ok

I'm particularly angered when the government thinks that they have got business in business

Teddy said...

i don't think u know a bit about the gravity of the situation.

Faces of Tun Teddy

Faces of Tun Teddy