Friday, March 20, 2009

Mini Budget: Stimulating the Rakyat

A Kadir Jasin

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IN the continuing series of kopitiam discussion with several veteran politicians, lawyers and economists, I would like to talk about the mini budget presented on March 10 by the Deputy Prime Minister and Minister of Finance, Mohd Najib Abdul Razak.

My apologies to the readers for taking a long time to comment on this very important issue, in particular to debater Sawit Futures Trader, who had insisted that I gave my two-sen worth of views.

I had taken a long time because being out of the information loop, I have no firsthand information about the budget until it was presented. Furthermore, on this particular issue and instance, I thought I better sought the wise words of the “oracle”.

In gist, this is what the kopitiam veterans, the economists and the “oracle” have to say about the mini budget.

It did not matter much what the analysts and bloggers said. Nor the fact that the Oppositions were not stimulated by it.

What is most important is for rakyat to be stimulated. The stimulus package is for them. If the benefits go to them, they will be happy. The government has taken care of their needs. So let us wait a while and see.

The amount in the two packages is RM67 billion. This is bigger than Singapore’s S$20 billion. So it should be as we are a bigger nation. In the per capita term, however, it’s still smaller that Singapore’s package.

The comments by those who showed interest seem to suggest that in preparing the mini budget, the players were not consulted.

If this is true, getting the stimulus packages running would be harder. If the government wants private sector to create 100,000 jobs, as was stated, which companies is it targeting?

The “oracle” said, in the case of the last two crises – mid-1980’s and the 1997/98 – the government was very clear about who should get the money and who should create jobs.

In the crisis of the mid-1980’s the government gave money and directed government departments to employ the unemployed directly to do such jobs as cleaning drains, irrigation canals and rivers.

The “oracle” said RM10-15 a day to unemployed urban workers and rural farmers was a lot of money at the time when they were in financial hardship.

He noted that during the late Tun Abdul Razak’s time, a “green book” was issued to encourage farmers to produce more food and for the households to plant vegetables around the house.

So, the “oracle” asked, were the large companies and employers called in and told to create the jobs? Were they taken into confidence and if so, did they agree? Otherwise how do you arrive at this projection?

The “oracle” also recalled how during the crisis of the mid-1980's, when the economic and finance matters were transferred from Tengku Razaliegh Hamzah to Tun Daim Zainuddin, the government successfully encouraged the private sector to supplement the government’s Unemployed Graduate Scheme with their own programmes.

(I was then in the New Straits Times and we launched a scheme that we called the Pre-Entry Training Scheme (PETS). In continued until a few years ago. Hundred of fresh graduates and school-leavers were trained and many of them today hold important posts in the mass media.)

Some commentators said the government finally acknowledged the severity of the crisis while a handful of official annoyingly continues to make excuses.
As recently as Jan. 14, two months after the 1st stimulus package was launched, the 2nd Minister of Finance, Nor Mohamed Yackop, continued to insist that “3.5% growth for 2008 achievable.”

He was in a state of denial, and worse, Mohd Najib repeated this optimism believing in what the MOF2 had been telling the Press. It must have come as a shock to DPM to realise that he had been misinformed of the situation.

Tun Dr Mahathir Mohamad had earlier written in his blog that he could not believe the crisis was not affecting the country, as we are a trading nation.

How then could MOF2 told us to believe that Malaysia is immune?

Under the stimulus packages, the government will directly allocate RM15 billion over two years -- RM10 billion this year and RM5 billion next year. Anything above this will increase the deficit to an unacceptable level.

The budget deficit this year is expected to rise to RM7.6 billion from last year’s RM4.8 billion.

To get round this, government decided to give guarantee to create an additional amount of RM25 billion. Another RM10 billion will be equity investment, RM7 billion private investment initiative and RM3 billion in tax incentives.

Would it not be better for the government to encourage the banks to lend more? They are supposed to be hoarding over RM200 billion.

Why are they keeping the cash when the country is facing the most serious crisis in history and is in need of capital?

Or is it because our banks have been investing overseas? Only Bank Negara knows. Investors want access to funs and not so much cheap funds. Of course cheap funds help to attract more investors.

Bank Negara must ensure not only accessibility to funds but attend to complaints from borrowers that banks are “corrupt” and are putting bureaucratic barriers.

Normally, operational expenditure is around 30 per cent. But this time it is 50 per cent. The government must explain this large increase.

The Government says it wants the Oppositions to work with it to overcome this crisis, forget politics and but put country first. The response from Opposition “Yes we will work with you but let’s have election in Perak.”

So much for working together. So much for country first. What has the election in Perak got to do with the global economy?

Clearly the Oppositions too are making excuses because they too don’t know much about the economy. Their de facto chief, Anwar Ibrahim, could no longer call on the IMF for help because the IMF has failed and the global financial system has melted.

What is most important in the implementation of the Mini Budget is for government to deliver the promises it made to the people quickly and without wastage, irrespective who they are affected by this crisis. No politics here.

Mohd Najib has to learn a lesson from this crisis. He has to have good advisors and implementers. There should not be a repeat of the MOF2 who was famously quoted by the Press saying: “Tidak sangka keadaan ekonomi menjadi buruk.” (Had not thought that the economy would become this bad.)

Others had warned the government but were ignored. Because of his “tidak sangka” stance, all Malaysians suffer.

Reports say Khazanah lost billions too. And government “was happy” that the losses were not as bad in Bursa Malaysia (KLSE) in comparison to China, India and other emerging markets.

What a consolation! Have we not been told that Khazanah is being run by so called brilliant “Oxbridge” boys hand-picked by the Prime Minister himself?

Are they continuing to pay themselves fat bonuses like the AIG executives in spite of the Khazanah and the GLC’s major losses?

The value of Khazanah’s investment declined to RM70.4billion on Dec. 31, 2008 against RM88.2 billion on May 31, 2008. The net worth (realizable asset value less total liabilities) fell from RM53.1 billion to RM33.7 billion.

And in both stimulus packages, money was given to invest in shares. Is this the time to buy shares? Like BN’s loss, these are paper loss too!

But when borrower pledge their shares to banks, prices drop and banks call for margins. Are these not paper loss too? We can’t have people with the “tidak sangka” mindset to be in charge of our economy.

And now talking to bankers after country is really down when should have done it earlier soon after the 1st stimulus.

We are always late.

Those who run our country must be alert. No sleeping on the job. No flip-flop. Most of all no “tak sangka”.

59 comments:

Hang Kasturi said...

Salam Dakaj,
You made it so simple to implement the 2nd stimulus economic package!!
How come the the financial wizards in the government did not see this approach ?

So it Najib must make drastic changes in his Cabinet. Throw out the dead wood.

Hang Kasturi

Sam said...

Come on Kadir, you have to be fair here. True,Najib asked the Opposition to cooperate but what was his stance against the opposition.
You can't hold a pistol to one's head and ask him to cooperate with you.
In any case, though you may be a wise man, you have always been antagonistic towards the opposition. You have always nothing to good to say about them. Biased!!!

Secondly, is there any mistake in this sentence, "Tun Dr Mahathir Mohamad had earlier written in his blog that he could believe the crisis was not affecting the country, as we are a trading nation."

I think he said .."he could NOT believe....."

Anonymous said...

Dato'

Thank you to you and those mysterious & wise "oracles" for taking apart the mini budget and making it more comprehensible. Were there lots of seance sessions, Dato'? :-)

But it's only going to work if Najib surrounds himself with smart and qualified professionals, right?

Professionals who sincerely want to bring this country out of our economic woes & not treat this country as their personal banks.

I think Najib ought to take a leaf out of Obama's book. While waiting for his inauguration, he was working very hard selecting & vetting his staffs. Even Clinton had failed to do this and it was said it set him back during his first 100 days in the White House. Obama chose the creme de la creme and by this, I don't mean boys who strut around pretending to be men and who graduated from Oxbridge at the bottom half of their class.

During his presidential campaign, Obama had three very simple principles that propelled him to the White House - stay focused, stay calm and stay organized.

I hope Najib can do that for his political enemies & detractors like Anuar will always be hanging around his neck like yokes & trying their utmost to distract (and dislodge) him from his real job.

Yes, I agree with you: "No sleeping on the job. No flip-flop. No tak sangka". Err...Dato', after the Limbang highly embarassing episode, I would like to add, no sleepwalking on the job either.

Don't mean to do a Joan Rivers here, but can somebody please, please tell Rosmah that semasa RAKYAT sedang sakit kena buang kerja and menanggung derita akibat kenaikan harga itu dan ini, it's unbecoming & insensitive of her to sashay around looking terribly expensive and a tad smug. One of the reasons BN almost lost the last election was due to the candidates and their people zooming around their constituencies in their terribly expensive cars and garbs. During financial difficulties like this "Less is more".

Melati

Parpu Kari said...

salam dato, nak samapi kan pesanan buat perwakilan je dengan izin ya..

SEMALAM JUGA KITA SUDAH TAHU AKAN PENDIRIAN TUN YANG MENYOKONG TAN SRI MUHYIDIN YASSIN SEBAGAI TPM, ALHAMDULILLAH, INILAH YANG SAYA TUNGU TUNGGUKAN NI.

SAYA NAK CAKAP SIKIT LA KALAU ADA PENYOKONG ALI RUSTAM KAT SINI, YANG DATANG MEMBACA BLOG SAYA YANG TAK SEBERAPA INI, SAYA AMAT BERSIMPATI TERHADAP APA YANG DAH TERJADI KEPADA DATO SRI ALI RUSTAM, TAPI TUAN TUAN SEKALIAN, ANGGAPLAH INI SURATAN TAKDIR, BUKAN REZEKI DIA...

YALAH, BANYAK YANG PERTIKAI KENAPA BELIAU SAJA YANG KENA PADAHAL ORANG DAH DIDAPATI BERSALAH PUN MASIH BOLEH BERTANDING KAN? ITU SAYA TAK TAU, KITA TERIMA JE LA KEPUTUSAN YANG TELAH DIBUAT...ALLAH TA'ALA MAHA MENGETAHUI DAN ALLAH TELAH MEMBERI KITA AKAL FIKIRAN, SO PILIH LAH DENGAN BIJAK YA. INGAT! INI BUKAN PERKARA MAIN-MAIN TAU! INI ADALAH SOAL MASA DEPAN NEGARA, APA KEPUTUSAN YANG KITA BUAT HARI INI AKAN MENENTUKAN HARI ESOK UNTUK ANAK CUCU KITA....JANGANLAH KITA TERPEDAYA DENGAN SEDIKIT HABUAN YANG TAK BERMAKNA!!! ESPECIALLY PERWAKILAN UMNO YANG BERJUMLAH LEBIH 2500 TU...MASA DEPAN UMNO TERLETAK DI TANGAN ANDA, MAKA UNDILAH DENGAN BIJAK DAN FIKIRLAH SEMASAK-MASAKNYA SEBELUM MEMBUAT PENGUNDIAN....

KEPADA PENYOKONG DATO SRI ALI RUSTAM, JANGANLAH IKUT HATI, JANGANLAH KERANA MARAH ANDA NANTI MEMBUAT KEPUTUSAN YANG AKAN DISESALI DI KEMUDIAN HARI....MARAH, YA SAYA FAHAM ANDA MARAH DAN ANDA MERASA BENDA YANG BERLAKU INI SEPERTI TIDAK ADIL KAN? TAPI TUAN-TUAN SEKALIAN, INI ADALAH SURATAN TAKDIR TUAN-TUAN, TERIMALAH TAKDIR ALLAH NI DENGAN HATI YANG TERBUKA DAN JANGANLAH ANGGAP APA YANG BERLAKU INI ADALAH PERANCANGAN JAHAT DARI SESETENGAH PIHAK, JANGANLAH KITA BEREMOSI! INILAH YANG HENDAK DILIHAT OLEH PIHAK PEMBANGKANG, MEREKA SUKA LIHAT ORANG-ORANG UMNO BERPECAH-BELAH!

YANG TAK MENARIKNYA, SEMALAM SAYA ADA MENERIMA SMS MENGATAKAN BAHAWASANYA PENYOKONG-PENYOKONG DATO SRI ALI RUSTAM AKAN SABOTAJ TAN SRI MUHYIDDIN YASSIN DENGAN MEMBERIKAN SOKONGAN MEREKA KEPADA CALON YANG LAGI SATU! YANG PELIKNYA, KENAPA TAN SRI MUHYIDDIN DIPERSALAHKAN PULAK YA? KENAPA? WHY? HMMM....

TAHUKAH TUAN-TUAN, KALAU TIDAK DISEBABKAN OLEH KEBERANIAN DAN KELANTANGAN SUARA TAN SRI MUHYIDDIN YASSIN UNTUK MEMPERCEPATKAN PERALIHAN KUASA INI, ADAKAH PERALIHAN AKAN BERLAKU DENGAN SEBEGINI CEPAT? PATUTKAH TUAN-TUAN SEMUA MARAHKAN TAN SRI YANG SANGGUP MELETAKKAN LEHERNYA DI HUJUNG PEDANG DEMI MENYELAMATKAN UMNO TERUS DARI TENGGELAM? INIKAH CARA KITA MEMBALAS BUDI BAIK TAN SRI? DENGAN MENGIKUT EMOSI?

TAN SRI MUHYIDDIN YASSIN ADALAH SEORANG WIRA YANG SANGGUP MEYAMPAIKAN HASRAT AKAR UMBI WALAUPUN IANYA BOLEH MENCANCAM KEDUDUKAN BELIAU....MANA WIRA-WIRA LAIN MASA TU? SEMUANYA MEMBISU SERIBU BAHASA.....

INGATLAH, JANGAN LUPA AKAN JASA TAN SRI MUHYIDDIN KEPADA UMNO DAN NEGARA, SOKONGLAH BELIAU TANPA BERBELAH BAGI, BELIAU ADALAH PARTNER DATO SRI NAJIB YANG TERBAIK!!! INI JUGA DIAKUI OLEH TUN DR MAHATHIR.

JADI SAYA MINTAK PADA PENYOKONG-PENYOKONG ALI RUSTAM SUPAYA FIKIR MASAK-MASAK SEBELUM PEMILIHAN. ORANG TUA-TUA KATA IKUT HATI MATI, IKUT RASA BINASA!

MARILAH KITA MENAIKKAN UMNO SEMULA KE SATU TAHAP YANG LEBIH TINGGI!!!

SEKIAN BUAT KALI INI DAN FIKIR-FIKIRKANLAH YA!!!!

YC said...

Public funds is at risk not just because of the global crisis, but it is also further amplified by the denial and brinkmanship mentality of her custodians.

As it is now, the country's leaders are reacting passively, if they are reacting at all, to the issue.

Nothing constructive has yet been implemented. The rakyat, especially the business community is in desperate need of a clear direction to ride out the storm.

The priorities are crooked and time is running out...

Abu Bakar said...

Dear Dato,

Was there a typo error when you said that, "Tun Dr Mahathir Mohamad had earlier written in his blog that he could believe.." ?

Should that not be, "Tun Dr Mahathir Mohamad had earlier written in his blog that he could NOT believe.." ?

Abu Bakar

mirzan007 said...

if the money goes to the people then its worthwhile... still.. who can garrenties that it won't goes to the cronies?!
someone need to keep tract on the money.. being TRANSPARENT is important...

sujini said...

Pak Kadir,

Im not an economist but,

1. How'd you call the mini budget a stimulus package when Banks are not stimulate to give borrowings?

2. Most vital, is the implementation and monitoring.
You may have a beautifully wrapped package and named it whatever you want but what we are interested is at the end of the day who benefits the most?

anak parit said...

Salam Dato',

Berdolak-dalik dan terlalu banyak penafian menyebabkan ekonomi negara diambang kemusnahan (atau mungkin dah musnah). Sikap hanya mendengar perkara yang sedap didengar sahaja dari talibarut dan pengampu disekelilingnya menyebabkan keadaan sebenar ketenatan ekonomi tidak diketahui pada tahap mana (sihat, tenat, nazak atau nyawa ikan).
Sikap hanya duduk dalam pejabat berhawa dingin dan tunggu talibarut menghantar maklumat dah semakin tak sesuai walaupun data boleh didapati dihujung jari, kerana turun padang perlu untuk mengetahui dan merasai sendiri kepayahan rakyat yang semakin hari semakin terhimpit angkara durjana pemimpin mereka.
Walaupun ekonomi telah menunjukkan penurunan pada suku ketiga 2008, kerajaan masih leka dan tidak menghiraukan keadaan gawat dengan mengatakan fundamental negara masih kukuh berpandukan pada data lapok, bajet 2009 yang dibentangkan pada Ogos 2008 juga menggunakan data-data lapok sewaktu harga petrol tinggi sedangkan pada waktu itu harga petroleum dan harga komoditi sedang jatuh.
Penasihat yang berada disekeliling Menteri Kewangan adalah mereka yang terdiri daripada "penyamun dan perompak" yang melahap untuk mengisi tembolok mereka.
Saya masih tidak yakin dengan 'mini bajet' yang dibentangkan kerana tiada impak yang membolehkan golongan bawahan merasa kesan serta-merta, bajet ogos 2008 juga tak mendatangkan impak inikan pula mini bajet yang baru dibentangkan.
Usah lagi 'flip-flop'.... ini dunia realiti bukan fantasi...
DSNTAR masih dalam fatamorgana dengan jawatan PM kot.....

Anak_Parit

A KADIR JASIN said...

Sdr Sam and Sdr Abu Bakar,

Thank you for pointing out the mistake.

Correction done.

Thank you.

Azman said...

Y.Bhg Datuk AKJ,

1. On a larger scale, will this stimulus package which focuses on domestic demand, help the dire status of our exports?

2. As most countries in Asia are putting high emphasis on domestic demand, some of which have directly/indirectly increase protectionism, will international trades improve? As a trading nation, what benefit(s) will our country be getting if we too employing the same policy?

3. Shouldn't the leaders of our country start to look into crafting some sort of "stimulus package" for regional trades too?

Thank you.

Azman Mohd Isa

Indigo said...

Scribe,

Neo And The Matrix
(while yusuf contemplates)

The coordinated global stimulus
package sounds a bit tremulous
tasting too sweet a baby's formula
too thick sugar coated holy grail
a concort medusa only the G7 churn could
save the Wall Street creme de la creme
as would a honey suckled Ponzi scheme

And the lean and the ill favoured kine
did eat up the first seven fat kine

the more mind-boggling the bend
the more curious the interest rend
while the secret banking facts unfurl
the usury flag sags sad and unfluttering
as the world of crony capitalism in their death throes scream
it is the economists ghoulish dream

And the lean and the ill favoured kine
did eat up the first seven fat kine

as farm fresh at the back of our mind
the mantra vivid on their fat lips kind
to the IMF-World Bank dictum beholden
the poor and hungry are still more than willing
to believe and to jump onto the
snake oil wagon that promises quick cures and quicker returns from a disastrous harvest sub-primal

And the lean and the ill favoured kine
did eat up the first seven fat kine

while the consumers ponder and fret
the plastic credit grows abundant
the 'oracle' mums her words chewing
on the chaff and answers not a query
while the silos grow empty of the grain
when will the skinny kines grow fat again?

And the lean and the ill favoured kine
did eat up the first seven fat kine

and salamun 'ala yusuf fil 'alameen
the master in the matrix of the dream



(are you in a rush off to somewhere, Scribe? it is so unlike you to write with so many inconsistancies; but then i do not understand much of what you have written sans regret)

Indigo said...

Scribe,

Neo And The Matrix
(while yusuf contemplates)

The coordinated global stimulus
package sounds a bit tremulous
tasting too sweet a baby's formula
too thick sugar coated holy grail
a concort medusa only the G7 churn could
save the Wall Street creme de la creme
as would a honey suckled Ponzi scheme

And the lean and the ill favoured kine
did eat up the first seven fat kine

the more mind-boggling the bend
the more curious the interest rend
while the secret banking facts unfurl
the usury flag sags sad and unfluttering
as the world of crony capitalism
in their death throes scream
it is the economists ghoulish dream

And the lean and the ill favoured kine
did eat up the first seven fat kine

as farm fresh at the back of our mind
the mantra vivid on their fat lips kind
to the IMF-World Bank dictum beholden
the poor and hungry are still more
than willing to believe and to jump
onto the snake oil wagon that promises
quick cures and quicker returns from a disastrous harvest sub-primal

And the lean and the ill favoured kine
did eat up the first seven fat kine

while the consumers ponder and fret
the plastic credit grows abundant
the 'oracle' mums her words chewing
on the chaff and answers not a query
while the silos grow empty of the grain
when will the skinny kines grow fat again?

And the lean and the ill favoured kine
did eat up the first seven fat kine

and salamun 'ala yusuf fil 'alameen
the master in the matrix of the dream



(are you in a rush off to somewhere, Scribe? it is so unlike you to write with so many inconsistancies)

samurai melayu said...

SALAM DAK
IZNKZN,
MINI BUDGET : SIMULATING THE RAKYAT..AS WE SEE IT COMING.

PARDON US, SIR.

ALFATIHAH, AMIN.

Dhahran Sea said...

Salam Dato' AKJ,
I WON'T be surprised if Khazanah would REWARD the GLCs' Mgt & themselves with hefty bonuses for "jobs well done" considering "very difficult times" i.e., the LOSSES could've been "worse", so its "still jobs well done"!

PMS said...


Sam said...
Come on Kadir, you have to be fair here. True,Najib asked the Opposition to cooperate but what was his stance against the opposition.
You can't hold a pistol to one's head and ask him to cooperate with you.


Come on Sam, who's holding a gun against who'd head? As far as we are all concern, pembangkang never listen to any of the government's plea.

You must be living in wonderland to believe that Anwar and his goons are going to save the country. If he is so great, why not ask him to borrow money from IMF to all the pakatan states? What is he doing right now?

Even if the state government can't borrow from international body, surely their state-linked company can undertake the loan. But Anwar is not doing that. He lacks vision, he does not know what to do. Not just him, the rest of the pakatan leaders are just the same. What are they all doing? P. Ramasamy DCM II of Penang said before retrenchment is not the state's problem, it is the federal's problem. What nonsense is this?

They all would rather spend their time on the street, carrying banner, and destroying public properties. Just look at the recent PPSMI gathering. After holding 5 states, nothing have been proven yet until now!

I wouldn't trust my country to be in the hands of these jokers. Sure, BN has got its ugly tentacles inside the government system, but in 50 years since independent, they have proven that in most ways, they can actually deliver. Period.

-Pre-menstrual Syndrom-

Anonymous said...

“Tidak sangka keadaan ekonomi menjadi buruk.”

i dah angka long long time ago...everyone dah sangka...

omg,can't believe he made this statement.shame on him!

really2 tak cerdik!shame on you mista!yaaaa...shame on you



mistacerdik

Raison D'etre said...

Datuk,

Do read my piece on the Ad Valorem imposed on agreements which is helping to push the cost of doing business in good old Malaysia another notch.

I hope to hear your thoughts on the subject as many (including our reps in Parliament) seemed to either missed out on it, didn't know of its implication or couldn't care less.

kamarul said...

Salam Dato',

Bagi saya kerajaan telah melakukan sesuatu yang baik dan sebagai rakyat kita harus memberi sokongan yang tidak berbelah bagi atas kommitment yang dibuat oleh DSN sebagai Menteri Kewangan Malaysia.

Hari ini rakyat harus kurangkan berpolitik dan saya nampak pihak pembangkang langsung tidak memainkan peranan yang ketara untuk berganding bahu bagi mengatasi kegawatan ekonomi yang melanda negara ini.Kita dapat lihat apa yang Ketua Pembangkang lakukan untuk rakyat dalam Parlimen.Kerana dek ramai peguam menjadi ahli politik, maka di negara ini asyik berbahas mengenai isu-isu yang boleh dijadikan sensasi untuk kepentingan politik masing-masing.

Rakyat harus sedar hari ini, permainan politik yang semakin hari lari dari perjuangan asal masing-masing.Sepatutnya isu ekonomi perlu di beri ruang yang secukupnya bagi mempastikan rakyat bersiap sedia menghadapi isu ekonomi yang begitu teruk di dunia antarabangsa termasuk negara kita sendiri.

Saya yakin sekiranya rakyat boleh melupakan seketika isu-isu politik dan bersama-sama membantu kerajaan bagi menjayakan Mini Budget ini, maka insyaallah kita dapat mengatasi masaalah ekonomi ini.Berganding bahu dan berfikiran positif, elakkan dari fikiran negatif, insyaallah kita dapat atasi kegawatan ini.

Bagi pihak kerajaan sudah sampai masanya tunjuk keihklasan dan ketulusan dalam melaksanakan tanggungjawab terhadap rakyat di negara ini.Inilah peluang yang terbaik untuk mendapat kepercayaan hati rakyat semula bagi menghadapi PRU13 nanti.

Kalau kita lihat dan amati pihak pembangkang tidak beggitu kuat seperti yang kita jangkakan kerana apa yang berlaku hari ini adalah protes rakyat terhadap kerajaan yang ada hari ini.

Saya berharap selepas Perhimpunan Agung UMNO ini, sudah sampai masanya setiap pemimpin melaksanakan tanggungjawab dengan lebih berkesan dan yang paling penting"BERSIH,CEKAP dan AMANAH".

berasiam said...

Salam Dato' AKJ

Langkah mewujudkan pakej rangsangan sebegini memang baik cuma kita tidak mahu kebaikannya hanya di atas kertas sahaja. Kita mahu supaya seluruh rakyat menikmati kebaikan pakej rangsangan itu kerana mereka merasai kesan buruk kegawatan.

Kenaikan levi pekerja asing memang sesuatu yang nampak berkesan dalam mengurangkan jumlah pekerja asing di negara kita. Kebanyakannya sudah berkira-kira mahu kembali kerana tidak mampu lagi menyambung permit bekerja mereka selepas kenaikan sekarang.

Tapi berdasarkan pengalaman sepuluh tahun dulu, kita bukan sahaja perlu merangsang ekonomi dengan lambakan RM tetapi juga perlu berani mengubah teras polisi ekonomi kita untuk memastikan kita benar-benar berjaya dalam jangka panjang. Dulu orang kata jangan ikat matawang tetapi keberanian kita menambat nilai RM telah menyelamatkan negara daripada tergadai kepada IMF sehingga kemudiannya mendapat sanjungan banyak pihak.

Apa yang dibuat hari ini hanya setakat pakej rangsangan, sama sebagaimana yang ekonomi lain lakukan untuk mengalas kesan kegawatan. Memang kita ada kemampuan untuk berbuat demikian dengan penambahan defisit bajet. Walau bagaimanapun kita perlu juga bertindak lebih ke hadapan dengan melakukan sesuatu yang lebih asas.

Jika kegawatan 1998 berpunca daripada dagangan matawang, kita telah menambat RM kepada USD untuk mengekangnya. Kegawatan hari ini berpunca daripada kegagalan sistem kapitalis itu sendiri yang telah disalahguna, maka kita perlu berani berbuat sesuatu kepada sistem ekonomi kita untuk memastikannya lebih teguh. Apa yang dibuat hingga hari ini lebih kepada meniru yang orang lain buat, maka selamanya kita akan terlambat.

Ada keberaniankah kerajaan melaksanakan ekonomi Islam sepenuhnya di Malaysia dengan peluang yang sedang terbuka sekarang ini ataukah sekadar kata-kata Nazir Razak sebagai penghias bibir semata-mata. Jangan masih Islam Hadhari pula selepas 3 April nanti.......

Nik said...

Dato'

I hope you realise that you are out of Sync with the ruling party's priorities. The economy is now playing a secondary role relative to the preparations for the UMNO elections.
Forget about the economy, each and every UMNO Wakil Rakyat is currently busy protecting their turf.....
After the UMNO elections there will be the usual damage or reparations required to patch up anything that went awry during the elections...
Then there are the by elections (may be bye bye for some)....
Then there will be the Patching up of damages incurred during the bye bye elections.....
Then there will be Najib's Cabinet Reshuffle....
By this time it will 2nd Quarter 2010 and the economy is in dire shape...
Then there will be preparations for the next General Elections!!

The Economy?

Each citizen as usual has to fend for himself, regardless of the circumstances.

I suggest you spearhead the establishment of an independent movement (For goodness sake don't let ANY politicians into the movement!)of INDEPENDENT Bijak Pandai to look into our economic situation. I will certainly give my full support to such a move.

samurai melayu said...

SALAM DAK
IZINKAN,

Sdr. PMS,
WE TOO wouldn't trust OUR BELOVED country to be in the hands of these jokers' PERIOD.

NOT TODAY, TOMORROW OR FOREVER!
THE ALMIGHTY ALLAH SWT FORBIDS.

ALFATIHAH, AMIN.

Sejahtera Abadi said...

Salam Dr. AKJ and readers,

BN govt. is not capable of handling the economy. Period. They failed to understand basic economics. School children will be to tell, he economic downfall of US will affect us as we significantly trade with the US. State of denial or pure incompetent or both? I think both.

Dato' AKJ indicated that Pakatan Rakyat is incapable bunch of people and Anwar Ibrahim always relied of IMF's prescription. I don't want to comment further as the comments mostly biased and without credible facts. One simple solution, change govt in the next General Election. I prefer giving PR a chance to prove themselves. If they don't perform then we have the right to change them later. Matured politics are needed and definitely not short sighted politics that thinks only BN can rule.

numoro_uno said...

Salam dato'

Dato ni pun geng dengan parpu basi ni jugak ka?..Sapa dia parpu ni dato'?..Orang UMNO perangai macam parpu ni ka??..sedih la dato' tengok gaya tulisan puak2 ni..
Dato' tolong komen sikit boleh..bagi nasehat ka...UMNO boleh bungkuih kalau puak2 pelapis macam parpu ni dato'..

Anonymous said...

Salam Dato',

Ini pandangan saya yang tidak celik ekonomi.

Perancangan untuk memulihkan ekonomi harus meliputi pelan jangka waktu panjang dan bukan hanya untuk jangka waktu singkat (stop gap measure).

Pelan stimulus ekonomi ini harus mengambil kira untuk menghapuskan pekerja asing yang dah terlalu ramai di negara kita. Dalam bidang binaan umpamanya, 80% pekerja binaan adalah dari buruh asing.

Dalam pelan stimulus ini, Kerajaan bercadang untuk mewujudkan satu projek mega, iaitu LCCT di Sepang.
Sudah tentunya kontraktor-kontraktor binaan untuk LCCT akan membawa lebih ramai pekerja asing untuk tujuan itu. Bukankah ini satu kerugian untuk rakyat Malaysia? Wang yang sepatutnya digunakan untuk membantu rakyat Malaysia, kini telah digunakan untuk menggajikan pekerja asing.

Dalam soal ini siapakah yang beruntung? "The mass does not benefit from the cake, only the individual."(Taukeh-taukeh lah)

Nak harapkan syarikat GLC untuk mengambil siswazah menggangur memanglah susah, jadi harap kerajaan memperbanyakkanlah pusat latihan untuk pekerja mahir dan tempatkan graduan menggangur atau lepasan sekolah disitu dan berikan "training allowance". Dengan ini negara kita akan mempunyai ramai pekerja mahir dan tak perlu bergantung pada pekerja asing pada masa hadapan.

Sekian, pandangan dari seorang buruh kasap.

Anak Bayan.

Anonymous said...

Salam Dato',

Berbicara 60 billoin ringgit tentang program stimulus ekonomi, tapi apakah habuannya untuk pekerja kasar tempatan,(species yang hampir pupus) yang tempatnya telah diambil alih oleh pekerja asing. (Makhluk asing).

Maka teringatlah saya akan lagu ini :

Senandung Buruh Kasar.

Lihatlah bangunan yang tinggi mengawan
Menghiasi kotaraya
Menjadi kemegahan dari zaman ke zaman
Kejayaan negara

Pandanglah aku yang bermandi keringat
Di bawah terik mentari
Bekerja dengan menghempas tulang
Mencari nafkah sehari

Aku hanyalah seorang buruh kasar
Di tengah kota besar turut merasa bangga
Kerana telah berjasa

Kerana tanpa kami tak mungkin terlaksana
Sebuah kota yang menjadi
Impian sezaman

Cukup hidup sederhana
Sedang bekerja, haaa..
Bisa bernyanyi, ketawa dan bersenda

(Lagu M.Nasir/Lirik S.Amin Shahab).

Anak Bayan.

syahbukit said...

Surce Star Online:

Muhammad said that he was the only Malay who graduated from Universiti Malaya with a first class honours in History in 1979.

“All my previous exams were also conducted in English - the London Cambridge Examinations and the Malaysian Cambridge Examinations.”

LONDON Cambridge Examinations???

KANTOI LAGI!!

kluangman said...

Bagi pendapat berjela dan berbincang sampai mulut berbuih pun sebenarnya tidak banyak perbezaan sebelum dan selepas apa apa budget.

Perlaksanaan terlalu lambat, kesan macam tak ada..

Contoh seperti kenaikan petrol yang mendadak dan selepas diturunkan, harga barang tidak juga turun..itu contoh yang paling akecil, apalagi masalah ekonomi dunia..

Mana dia perlaksanaan? mana dia penguatkuasaan? mana dia keberkesanan?

TiCO said...

YBhg Dato Kadir,

Saya yang tak pandai ekonomi ini hanya mampu menerapkan kemahiran membanding dan membeza sahaja.

Dalam carian saya, saya dapati maklumat seperti berikut mengenai Pakej Ransangan Ekonomi Global. Semuanya adalah dalam nilai mata wang USD

AS 747 b
China 586 b
Germany 29 b
France 33 b
Spain 14 b
Singapore 7.3 b
Bitain 30 b
Thaailand 3.93b
Malaysia 16.23b
India 4 b

Kalau dibandingkan dengan negara lain yang sama kategori nampaknya Malaysia adalah yang terbesar dalam menyuntik ransangan ekonomi,

Orang buat kita pun ikut saja lah. Betullah tu.

Saya nak tanya sikilah. Dari mana kerajaan dapat duit sebanyak ini.

Di Britain ada tunjuk perasaan British Job For British.

Sudah ada arus deglobalisasi. AS , Arab Saudi beri keutamaan kepada rakyat tempatan dalam mengisi kekosongan pekerjaan.

Semua orang kena balik negara masing-masing. Itulah kehendak pada sekarang.

Tapi kerajaan Malaysia menerima tekanan dari Indonesia tentang hal ini. Malaysia kata hanya sedikit sahaja pekerja Indonesia yang dihantar pulang pada masa sekarang. Malaysia harus tegas dalam hal ini. Duit pakej rangsangan ekonomi harus jatuh ke rakyat tempatan. Inilah masa untuk remaja Malaysia tidak menjadi manja. Dahulu remaja Malaysia buat bangunan DAYABUMI. Itulah projek pembangunan terakhir yang dibuat oleh remaja Malaysia. Projek-projek selepas itu semuanya guna buruh import.


Pakej Rangsangan Ekonomi adalah penyelesaian cara Keynesian. Semua pemimpin dunia sudah menganut mazhab Keynesian sekiarang ini.

TiCO said...

BUZZ Anak Bayan via YBhg Dato Kadir

Sedap lagu yang saudar sisip itu. Malangnya Lagu yang saudara petik itu dinyanyikan sebelum Projek Daya Bumi. Projek itulah kali terakhir tenaga kerja tempatan bekerja di sektor pembinaan. Selepas itu semua semua tenaga buruh import.

Kita harap inilah masanya untuk mengembalikan sentuhan anak temoatan dalam sektor pembinaan.

Sekian.

Dato sanusi Osman. said...

Dear Dato Kadir.

Persoalam saya adakah kita mempunyai wang 60 billion untok stimulus ekonomi.Jawabnya tiada.EPF hanya mampu sarakat 20 billion.Petronas lagi 20 billion.Bakinya dari mana.

Dato,tahu kah Dato hanya 1 juta raayat Malaysia yang membayar cukai.Bakinya sama ada tak layak atau tak mahu bayar.Dari 1 juta tadi hanya 25 ribu yang mambayar cukai 100 ribu ringgit ka atas.

Cukai syarikat juga akan berkurang.Yang merunsingkan keuntongan Petronas akan jatoh dan keupayaannya untok membayar cukai berkurangan.Dimanakah kita akam dapat wang untok perbelanjaan negara.Jawabnay tak tahu.

Saya berani berkata terus terang,sejak pak lah menjadi menyeri Kewangan ia hanya tahu berbelanja tampa memikirkan bagaimana hendak menambah pendapatan negara.Saya setuju dengan pendapat dato bahawa pak lah dah tak tahu ekor pangkar soal kewangan,ia bergantong kapada Tan Sri Noor yang juga berlagak pandai tapi ia lah yang lebeh merosakkan ekonomi negara.

Untok pengatahuan Dato,tan Sri Noor lah yang enggan menolong Tan Sri halim Saad,tan Sri Tajuddin dan ramai lagi perniaga tulin Melayu.Renong di ambil aleh oleh khazanah dan TRI(celcom) juga di ambil aleh oleh TM dan Khazanah.

Kemudia Ia meluluskan penjualan Naluri Bhd kapada George Lim.Ingat Naluri mempunyai 1 billion wang tunai hasil jualan saham MAS kapada Kerajaan.Bila George Lim memdapat Naluri ia mengunakan wang itu untok membeli SriWani( yang dah bankrup)Sabelum ini bila Tajuddin hendak mengunakan want itu untok membeli saham TRI,Security ommission menolaknya.

Berbalek kapada Ekonomi negara kita,memadailah saya berjata disini bahawa Structure ekonomi kita amat lemah dan akan collape bila2 masa.Jika najib mengunakan khidmat Tun Daim sabagai penasehat ekonominya,negara kita akan collape lagi cepat.

Saya nampak Najib ini macam tak ada confident saja.terlalu banyak orang yang ia mahu mereka jadi Penasehatnya.Antaranya Musa Hitam,Effendy Nawawi,Mahathir Mohamad,Tan Kim Hock dan Tun Daim.Perak jadi purak peranda kerana ia dengar kata Daim.Mahathir pula mahu hanya pemimp[in yang tak corrupt di lantek menjadi menteri dan Mus Hitam pula mahu hanya pemimpin tang dibawah umor 50 tahun menjadi menteri.Kalau ini creteria yang diikut Kabinet Najib hanya tinggal dia dengan mahayuddin.

Anonymous said...

Datuk Sanusi,

Cukai hasil kerajaan bukan hanya cukai pendapatan atau cukai korporat sahaja. Macam-macam cukai kita kena bayar sebenarnya.

Kalau makan di restoran, kita kena bayar cukai jualan. Kalau pegi karaoke atau kelab malam, kita kena bayar cukai hiburan.

Kalau isap rokok kita bayar cukai jualan dan cukai eksais.

Yang minum arak, pun kena bayar cukai jualan dan eksais juga.

Kalau kita beli kenderaan bermotor kita kena bayar cukai jualan, kalau yang import kita kena bayar cukai import.

Tiap-tiap tahun kita kena bayar cukai jalan. Insurans yang kita bayar tu pun termasuk juga cukai perkhidmatan.

Kalau kita beli tanah, kita kena bayar cukai tanah. kalau kita beli rumah, kena bayar cukai pintu. Kalau kita bela anjing atau binatang-binatang pelik, kita kena bayar lesen yang juga ada cukai. Kalau tanah kita tu ada emas, kita nak gali buat lombong emas, kita kena bayar cukai lombong, cukai emas, cukai PBT, cukai alam sekitar dan lain-lain.

Kalau nak buat syarikat, baru nak mohon lesen, kita sudah kena bayar cukai modal perniagaan. Bila dapat lesen, kita nak sewa pejabat, kita kena buat "rental agreement" yang perlu kena setem hasil ... pun satu jenis cukai juga. Bila nak pasang "signboard" kita kena bayar lesen PBT ... pun cukai. Bila kita buat "jualan", kita kena bayar cukai jualan....

Bila berniaga lingkup, kita kena jual kompeni, transfer share kita pun kena bayar cukai stamping pada LHDN. Kalau kena saman bankrupt, kita kena pakai lawyer... lawyer fees yang kita kena bayar tu pun ada cukai perkhidmatan.


Datuk Sanusi ....

Macam-macam jenis lagilah cukai yang kita kena bayar. Letih nak tulis la.


Punahsihat Hasil

InMine said...

Dato';

Saya tak pandai pasal ekonomi ni. Tapi apa yang saya alami adalah seperti berikut:

1. masalah ekonomi 1980'an - masa ni saya baru tamat belajar di USA. Jadi saya tak balik sebab di Malaysia tak ada kerja. Saya sambung belajar ambil Master.
2. masalah ekonomi 1990'an - saya hampir nak kena jual rumah untuk kurang kan hutang. Nasib baik kerajaan bertindak dengan cepat untuk membantu rakyat macam saya. Interest turun, selamat.
3. masalah ekonomi 2000'an - dah kena blacklist dah sekarang. Nak juak rumah nombor dua pun belum selesai lagi sebab buyer payah nak dapat loan. Nampak gayanya kerajaan lambat bertindak dalam menangani masalah ekomoni zaman 2000'an ni. MOF2 tu kena berentilah/diberhentikan kalau main manage ekonomi dengan cara "sangka" dan "tak sangka".

p/s: Thank you Dato' for interviewing my daughter at Perdana Foundation yesterday. She was the first person to be interviewed yesterday. She enjoyed your questions, especially about the "Artificial mind". She had a good laugh later.

abdullahngah said...

Apa sudah jadi dengan pakej ransangan RM 5 bilion yang menggunakan wang KWSP.

Adakah ia memberi manfaat kepada rakyat?

Apa pula yang terjadi pada pakej ransangan kedua dengan peruntukan wang sebanyak RM 7 bilion.

Kemana pergi wang sebanyak itu. Mengalirkan ia kepada rakyat.

Kalau pakej itu dapat dimanfaatkan, mengapa diadakan lagi pakej mini yang memperuntukan wang sebanyak RM60 bilion.

Yang cukup menyedihkan kita masih ada rakyat yang percaya dengan usaha seumpama itu.

Bukan setakat percaya bulat bulat malah masih ramai anggap pemimpin umno sebagai wira negara.

Kalau mereka wira negara mana mungkin orang Melayu semakin hari semakin lemah dan berada didalam kecemsan.

Bayangkan erti istilah kecemasan. Kalau orang yang di masukan kedalam wad kecemasan dihospital dapat kita simpulkan mereka itu berada didalam keadaan yang sangat teruk, tenat dan hampir hampir mati.

Apakah kita tidak sedar status quo orang melayu sekarang dek angkara Umno selama ini.

Bagi saya buatlah apa apa pakej pun hatta dengan kos ratusan bilion sekalipun ianya tidak akan memberi manfaat kepada rakyat selagi para pemimpin utamakan kepentingan peribadi, kronisme nepotisme.

Yang dapat manfaat besar ialah para pemimpin Umno yang beramal dengan rasuah.

Kalau sekiranya amalan rasuah para pemimpin tidak dapat dihapuskan jangan diharap apa yang dilakukan hatta atas nama pakej ransangan sekalipun ianya tidak akan memberi manfaat kepada rakyat.

Manfaat hanya dapat dinakmati oleh para pemimpin yang rakus mengumpul harta untuk dibawa ke akhirat nanti.

Kita boleh terima bahawa pemimpin Umno sebagai wira, tetapi wira gadai negara. percaya.

Anonymous said...

Dato'

After all that is being said about Pemilihan MT UMNO, Mini Budget, yadda, yadda, yadda, I stumbled upon this gem of information at Mohd Sayuti Omar's Merah Tinta blog (Friday, March 20). This is what he had written:

"Pak Lah telah memperpanjangkan tugasan sebagai Perdana Menteri dengan memasukkan beberapa program tambahan ke dalam buku harian kerajaan sehingga bulan Jun."

Alahai...

Melati

Anonymous said...

Datok,
as ordinary people, i am doubtful of this economic package.i had heard 'billion' so many times.as usual villageman would get nothing.this package is totally a 'gula-gula' for DS najib upon his appointment as pm.not many umno leaders would go against him because of 60 billion dan Najib just added more 'pengampu'in his list.
sekian.zmy

Some said...

Mintak maaf datuk, saya nak quote Tan Sri Mat Taib punya news article dari The Star...


“All my previous exams were conducted in English: the London Cam­bridge Examinations and the Malay sian Cambridge Examinations,” he said.


bukan kah LCE tu maksudnya Lower Certificate Exam (SRP) dan MCE tu maksudnya Malaysia Certificate Exam (SPM). Mungkin orang yang zaman dulu-dulu boleh clarify.

Dari Borneo ke Minang said...

Sdr. A Kadir Jasin,

I don't understand the politicians and their statements. I am not a graduate from Oxbridge or some Ivy League from Mars nor Venus. Maybe that's the reason for my severe lack of understanding...

Banks are not lending! Worse... credit lines, trade lines etc are being scaled back. In some instances, cancelled! How are we to do business?

Demand from our export markets are down. Some as much as 80%. Cancelling of orders started as early as June/July 2008...

Don't tell me the government doesn't know anything about all these!!! Even if the demand from some of our export markets are holding up (just about), these buyers' credit/trade lines, LCs etc. are either being reduced drastically or cancelled altogether!

Would you sell your product to some overseas buyer without LC or other form of banking instrument to ensure payment?

Where does it lead us? I don't know...

Our domestic market is too small to cushion the impact of reduction in exports... More manufacturers cum exporters are starting to default in their loan obligations. NPLs would increase...

Would the government consider CDRC2? Whispers from the grapevine gave some hints to that effect!

I don't know... Like you, I am also no longer in the information loop!

I would accept another "Tour-Of-Duty" similar to the 1997/98 crisis... but unfortunately I am not from Oxbridge so I may not be recall for another tour/active duty.

I may not be from Oxbridge but I certainly am not a MORON...nor do I sleep on my job and neither do I flip-flop!!!

Sekian.
Dari Borneo ke Minang

p/s: It is embarrassing for a PM to not understand whether an issue has been resolved or otherwise... especially if it involves a territorial dispute with a neighbouring country!

Indigo said...

Scribe,

The Najib Mini Buget
(questions for the 'oracle')

Oracle: An oracle can be a person who prohesies in a temple, a shrine, or any place where such person resides or a prophetic deity is worshipped or answers given by said people...

Alhamdulillah.

Without doubt this is a most wonderful posting by you again, Scribe.

Counting on your good nature and generosity, I have some questions that I hope when it pleases you and the 'oracle', the 'oracle' would be kind enough to answer; and since you have the good fortune to know the 'oracle', I hope you would be kind enough to convey these questions to the 'oracle', Scribe.

1. Was the Budget2009- Kerajaan Prihatin well crafted?

2. Even if the Budget2009 was construed well thought out and designed, will the Mini Budget be effective in contributing towards mitigating the impact of the global contraction on the domestic economy even if it delivers the promises it made to the people quickly and without wastage, irrespective who they are affected by this post Sub-Prime crisis?

2. Considering The Obama Budget Plan: his budget plan probably will change, but in the end his four priorities must be met. Those are plans to boost investments in clean energy technologies, including wind and solar power; more money for childhood education programs, affordable college costs and higher standards for schools; a health care overhaul that will lower costs, including Medicare and Medicaid; and a scrutiny on domestic spending that will lead to cuts in the deficit.

How would Malaysia make up her deficits - will domestic spending leads to cuts in the deficit?

3. Will the RMK-9 still be viable or does the (new) Prime Minister of Malaysia have priorities that must be met?

4. What will the growth in Malaysian GDP be for the next ten years be? When will there be a surplus budget?

5. ...IMF has failed and the global financial system has melted

Is the Malaysian government addressing the real issue? Is the Ministery of Finance prescibing the right medicine for the Malaysian economy in the prevailing global finacial and economics situation?

6. Will Malaysia come out stronger and be a more competitive economically?

7. Or are we blindly following the recommendations of the IMF and applying their formula which said to be as per David Brooks:a series of beggar-thy-neighbor exchange-rate policies, followed by rising trade barriers and the degradation of the entire global system - when it does not apply to us and if we hope to survive this crisis and come out the better economically this time we have as we have done from the Asian Financial Crisis of 1997 come up with our own formula?


Alhamdulillah; and I would like to share this Bernama news with you and the kopitiam gang and hope you guys will enjoy it while never forgetting the 'oracle':

Kelembapan Ekonomi Pacu Aktiviti Tukang Tilik Di India
Oleh P. Vijian

NEW DELHI, 21 Mac (Bernama) -- Kemelesatan ekonomi global mungkin membawa kesengsaraan kepada ramai pihak tetapi bukan untuk pakar astrologi atau tukang tilik di India yang semakin meraih keuntungan.

Situasi ekonomi tidak menentu ketika ini turut merangsang kepercayaan adat-adat lampau seperti ramalan astrologi di mana aktiviti tukang tilik semakin berkembang di India.

Kepercayaan terhadap penjajaran planet yang cenderung untuk membawa kesan langsung ke atas hal ehwal dunia dan individu telah begitu menebal di kalangan masyarakat di negara ini.

"Ramai orang kini beralih semula kepada pakar astrologi sejak keadaan ekonomi semakin meruncing. Setiap hari kita lihat peningkatan bilangan orang yang ingin mendapatkan nasihat tukang tilik," kata Presiden Persatuan Ahli Astrologi Chennai, S. Govindaraja...

-Bernama


Terima Kasih semerah padi, Scribe; dan kita harap PAU-59 berjalan dengan lancar dan baik disamping berharapan besar Tun Mahathir will deign to attend it and grace the Perhimpunan on the 27th with his and Tun Siti Hasmah presence. Ameen.


demi agama, bangsa dan negara

One Pip said...

If IMF is that bad, why has South Korea emerged much stronger after the crisis? South Korea subscribed to the IMF policies at that time. Those who believe Anwar wants to involve IMF also believe that Anwar is a CIA agent, a sodomite, an Muslim militant and womaniser. Unfortunately, Datuk Kadir Jasin is one of them. When Najib takes over, he will be appointed the NST Editor again.

Anonymous said...

Salam Dato'

It's really true, the global economic crisis has turned for the worse. We are just entering the 1st quarter of 2009,yet the US Fed Reserve has made 2 significant decisions:
1. Reducing the US base rate to 0%
2. Printing of new money worth US 1.2 trillion

Imagine the US Govt is willing to jeopardise the US currency as world status for the sake of its economy. What will happen when countries such as China, Japan, Taiwan began to dump the US currency ? Most of these countries' foreign reserves are in US currency.

kmn

A KADIR JASIN said...

Sdr One Pip,

Want to take a bet?

Thank you.

mad said...

some kata:

"bukan kah LCE tu maksudnya Lower Certificate Exam (SRP) dan MCE tu maksudnya Malaysia Certificate Exam (SPM). Mungkin orang yang zaman dulu-dulu boleh clarify."

memang benar MCE = SPM, LCE = SRP
kalau saya masih ingat soalan2 dalam kertas ujian berupa soalan objektif. maksudnya jawaban diberi pilihan antara A,B,C dan D.

ada juga peperiksaan berbentuk lisan yg diadakan di sesi berlainan.

Anonymous said...

salam DAKJ n Bloggers,

60 billion hinggit!!! suntikan terbesar dlm sejarah malayISA, bukan tak percaya atau tak yakin, cuma banyak persoalan dlm kotak pemikiran saya....dan mungkin dalam kotak pemikiran sebilangan besar bloggers

kalaulah dsn buka soalan dan bagi kebebasan debat kpd yb2 tempoh hari secara live dan sepontan sure tiada persoalan berbangkit, bukan susah pun kalau dsn membentangkan sesuatu yg realistik dan benar, yb tanya soalan dsn jawab!!lainlah kalau dsn cuma tukang baca teks!!

apa yg rakyat secara umumnya atau blogger khasnya boleh buat??? cuma tunggu dan lihat siapa yg merasa duit "mini skirt" dsn, hari pertama selepas budget pak menteri pengangkutan dah tersenyum, hari kedua pak menteri sukan dah tersenyum...............

p/s : tunggu komen saccastic dr sawit trader.....

HAMBA ALLAH

Anonymous said...

Dato'

With your permission.

One Pip

I can see that you are a supporter of Anwar. Please google Jebat Must Die (JMD) blog for he had written a series on Anwar & PR. In my opinion, JMD has consistently been writing very good & well-researched articles on a lot of issues.

While you are at it, you might also want to read the role that Zaid Ibrahim had played in the dismissal of Tun Salleh Abas - also written by JMD. Also well researched and thorough.

I don't know about you, but Anwar being accused of being a bisexual or a womanizer is the least of the problem.

Sorry, if I have offended you but JMD is a must read.

As for Dato' Abdul Kadir Jassin being called back as the NST Editor - yes, please. I stopped reading NST when Kalimullah became bigger than NST itself. Please compare what Kali had written & what Dato' had written in their editorials.

Thank you.

Melati.

One Pip said...

OK. OK. PR knows nothing about economics. Khir Toyo is better at economics than Khalid Ibrahim. Ali Rustam knows better about economics than DAP's Tony Pua.

NST sales hit its record low during Datuk Kadir Jasin, not Kalimullah.

I would rather have a leader who adheres to the rule of law but makes a wrong economic decision about interest rates than a diabolical leader who makes a right economic decision about interest rates but undermines our judiciary, public prosecution office, police force etc etc. Under BN, the rakyat (non-Umno followers) will live in fear of wrong imprisonment, selective prosecution and so on. As I mentioned in another reply, a pro-Palestinian activist in Tel Aviv doesn't feel the way we non-Umno people feel.

sawit futures trader said...

Salam Dato',

Saya dah tulis panjang sebelum ini, tapi streamyx terputus pulak. Jadi saya tulis secara ringkas sahaja kali ini.

Harap Dato' jangan ambil hati ringkasnya komen saya kali ini bukan bermakna saya tidak peduli. Maklumlah saya yang rajin minta Dato' tulis tentang ekonomi.

1.To me, your view is worth much more than just merely two cents. Much, much more.

2.Thank you for answering to my calling by putting this article up. I appreciated it very much.

3.On the issue of "stimulating the people to stimulate the economy".

Just now, on TV3, Najib mentioned about the need to establish a new economic frameworks. Yesterday, on TV3, Najib declared that all projects pertaining to 1st stimulus package will be completely roll-out by next month and completed by next August.

Ironically, the matter of inflation vs income growth was discussed all over the internet as early as June last year.

Ironically, the matter of 1st stimulus package was presented in Parliament last year.

"Stimulating the people", I guest, will need more than just talk and layed-out plans. Actions need to be seen to be appreciated.

4.Upon concluding his presentation on mini budget, Najib makes a brief remark on the "tree" issues.

Such a sloppy act for a seasoned politician. And this is in spite of his call for "more works, less politics".

I didn't remember TDM doing that on the subject of rescue packages back in 1998 (correct me if I am wrong). And TDM had a 100% support from all parliament members, regardless of political beliefs.

5.To me, our current economic issues does not originate locally.It was due to less market demand from outside the country, which is bad for a exporting country like Malaysia.

This was not addressed so far, be it in the Valuecap package, 1st economic package or the mini budget presentation.

6.2009 budget was outlined with the assumptions of high prices in crude oil and palm oil. Related figures was never adjusted.

7.In the US, slogans of "buy local" campaign are everywhere. China which exports heavily to the US had reacted and reallign. I don't see us doing that.

8.The US has mass produced new paper money for circulation. What will happen to our reserve which is tagged to their currency? Yet again, no response so far to be seen.

p/s Yet again, I will like to state that, it is in my opinion, would the dinar emas proposal successfully been adapted into the system, the hole that we are in right now would not have to be this deep.

Anonymous said...

Dato'

With your permission.

One Pip,

I see you have not taken up my suggestion to pore over JMD's writings.

I am very curious here. Can you quote me the source of your
"NST sales hit its record low during Datuk Kadir Jasin, not Kalimullah"?

If the volume of sales reflects the quality of the paper, than Harian Metro definitely win hands down.

Good night, One Pip.

Melati

Indigo said...

if the dinar emas was...

scribe, if the dinar emas was whatever we will have been slaves of the G7 or G8 or G9 by now.

you print more money i print more money...let us see if the japanese will stop the north korean launching their satellite or the iranian will have their 'cleaner' nuclear power, scribe.

what is the meaning of inflation when your currency just depreciate more than the interest rate?
where do they get the 'gold' for the dinar emas that the spanish armada had not sent back to spain and some to the bottom of the sea - the davy jones locker.

meaning to say, who your friends are that will want to do business with you, scribe.

as for the question of economy or justice, ever seen people kill for food? or one isreali for 1000 palestinians which is world currency at the current rate that i last check, scribe.

sawit futures trader said...

Salam Dato',

if the dinar emas was...

offered as OPTIONAL replacement to USD in international trading

AND

reserves to be pegged to multiple currrency including dinar emas (proportional with accordance to size of imports from Malaysia, or something like that). This will be a safe net from currency fluctuation - significantly important for an exporting country like Malaysia.

Nobody would expect it to take off in a day. That will invite shockwaves aspecially from the US.

It will just need time, courage and patient.

The world financial system is crumbling down and some find it hard to let go. Typical.

Should there be dinar emas, ripple will remain just ripple; no tsunami.

In actual fact, alternate pegged currency for reserves had already taken place in the world. More and more will follow suit.

U.N. SAYS WORLD SHOULD DITCH DOLLAR
By Jeremy Gaunt
March 19. 2009 Reuters

LUXEMBOURG - A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.

Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.


Persaud, chairman of consultants Intelligence Capital and a former currency chief at JPMorgan, said the recommendation would be one of a number delivered to the United Nations on March 25 by the U.N. Commission of Experts on International Financial Reform.

"It is a good moment to move to a shared reserve currency," he said.

Central banks hold their reserves in a variety of currencies and gold, but the dollar has dominated as the most convincing store of value -- though its rate has wavered in recent years as the United States ran up huge twin budget and external deficits.

Some analysts said news of the U.N. panel's recommendation extended dollar losses because it fed into concerns about the future of the greenback as the main global reserve currency, raising the chances of central bank sales of dollar holdings.

"Speculation that major central banks would begin rebalancing their FX reserves has risen since the intensification of the dollar's slide between 2002 and mid-2008," CMC Markets said in a note.

Russia is also planning to propose the creation of a new reserve currency, to be issued by international financial institutions, at the April G20 meeting, according to the text of its proposals published on Monday.

It has significantly reduced the dollar's share in its own reserves in recent years.

GOOD TIME

Persaud said that the United States was concerned that holding the reserve currency made it impossible to run policy, while the rest of world was also unhappy with the generally declining dollar.

"There is a moment that can be grasped for change," he said.

"Today the Americans complain that when the world wants to save, it means a deficit. A shared (reserve) would reduce the possibility of global imbalances."

Persaud said the panel had been looking at using something like an expanded Special Drawing Right, originally created by the International Monetary Fund in 1969 but now used mainly as an accounting unit within similar organizations.

The SDR and the old Ecu are essentially combinations of currencies, weighted to a constituent's economic clout, which can be valued against other currencies and indeed against those inside the basket.

Persaud said there were two main reasons why policymakers might consider such a move, one being the current desire for a change from the dollar.

The other reason, he said, was the success of the euro, which incorporated a number of currencies but roughly speaking held on to the stability of the old German deutschemark compared with, say, the Greek drachma.

Persaud has long argued that the dollar would give way to the Chinese yuan as a global reserve currency within decades.

A shared reserve currency might negate this move, he said, but he believed that China would still like to take on the role.

dari borneo ke minang said...

Sdr. A Kadir Jasin dan para pengomen lain,

Given the failure of conventional financial system, I think the government should focus on moving towards and giving more prominence to Islamic financial system globally.

Based on the little that I know, this will rid elements of gambling from the existing system plus some other undesirable elements that point towards an unjust system.

This is a golden opportunity to promote Islamic financial system as a credible alternative to the existing conventional one at a global stage.

What do you think?

Sekian.
Dari Borneo ke Minang

Indigo said...

Scribe,

A Cry In The Woods
(the echoes of laughter rang hollow)

The cry for a global currency unit has been made since before the EC of yore and that cry perhaps would have been answered but for the fact the western democratic world the threat of commuism from the presence of the old Soviet Empire must be met and that has made the pursuit ostentatious. The US and her allies have their grand designs.

The practice of free market economy is never perfect and even the formation of the United Nations never quite seem to solve old hatred and desires of one nation towards another. The United Nation only introduces the power of veto to few select and privileged member nations to keep the world and her economy ticking.

If the simple idea of an Iranian Oil Exchange is good to the world and her economic health, I for one would have suspected China and Russia would have made their stand known more vociferous and those Iranians would have long been out of a NATO sponsored embargo and their international assets basking in the sunshine.

I do not think the western world would view seriously the practice of the Islamic Financing and Banking as a great threat to their continued hegemony as long as there are easier ways to keep their military presence well greased. They I believe can dictate the Islamic Economics system just as easy as they dominate capitalism and socialism and sell it to the third world countries.

What is in the textbooks were and will be details of the failure of the Gold Standard and measures of exchange regime that does not prefer the masters of the modern world.

The thing is I love an usury free economy and fair trade but the master in pope in vatican, the arch-bishop of canterbury and the rabbis everywhere in comic cosmic diaspora would have some other priorities and agenda. The Russian are orthodox christians nowaday. it seems while India and China won't mind both ways.

It is lovely the Gulf Countries with their old castles and it would be wonderful that would want to will new dinars to the world even if minted by the still colonies of the old countries in the southern hemispheres but the question remains how would we get out of the loop when even the President of the United Sates has his unique view of what a muslm should be, Scribe?

sawit futures trader said...

Salam Dato',

Tumpang lalu nak komen balas sdr Dari Borneo ke Minang.

Global financial system is a big thing. I doubt many will grasp the dimension of such concept. What more to discuss it over an open medium.

But to those who are in awareness, such discussion is of a wish-to-do-list.

I have such a list. You are not alone.

Just for the reason that, the buzz right now is on Perhimpunan Agung UMNO and not the economic issues, I'll make it simple.

The past financial system was based on cash-to-gold reserve basis.

Currently, the system was based on cash-to-credit basis.

I am thinking, for a new system, a cash-to-cash basis.

This is just a rough idea. Far from polished.

It is a hard system to implement as house purchasing needs a lifetime of finance and even cars pricing nowadays needs no less than six years to finance.

Just imagine the sum of financing for machines and running cost for a factory.

In sum, we are not only going to talk about financial system per se. The discussion will be about public perception and acceptance in terms not limited to monetary policies alone but also on such issues as pricing, labour rewards and capital returns.

FYI, I am still studying the islamic economy model in my free time. The idea of cash-to-cash basis comes from the islamic economy principles.

web design said...

You can't hold a pistol to one's head and ask him to cooperate with you.

web design said...

You made it so simple to implement the 2nd stimulus economic package!!

jazrul said...

I don't mean boys who strut around pretending to be men and who graduated from Oxbridge at the bottom half of their clas

co2 system

fauzi said...

so what you meant jazrul

abg said...

good luck in dark attempt the

pinjaman wang,pinjaman segera,pinjaman cepat

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About Me

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I was born in 1947 in Kedah. I came from a rice farming family. I have been a journalist since 1969. I am the Editor-in-Chief of magazine publishing company, Berita Publishing Sdn Bhd. I was Group Editor NST Sdn Bhd and Group Editor-in-Chief of NSTP Bhd between 1988 and 2000. I write fortnightly column “Other Thots” in the Malaysian Business magazine, Kunta Kinte Original in Berita Harian and A Kadir Jasin Bercerita in Dewan Masyarakat. Books: Biar Putih Tulang (1998), Other Thots – Opinions & Observations 1992-2001 (2001), The Wings of an Eagle (2003), Mencari Dugalia Huso (2006), Damned That Thots (2006), Blogger (2006), PRU 2008-Rakyat Sahut Cabaran (2008), Komedi & Tragedi-Latest in Contemporary Malaysian Politics (2009) and Membangun Bangsa dengan Pena (2009).