Just like history, numbers don’t lie unless someone deliberately twist it. Fortunately somewhere within this globe the real facts about history or numbers will be kept and archived. Something is definitely very wrong with the current government judging from the numbers lately. No matter how you crunch the number and try to hide from the public, the fact remains that Abdullah Badawi administration is the worst PM this country ever produced since independence. One wonders where have all the smart and genius economic advisors who used to assist the former premier Mahathir gone. You don’t think Mahathir was that smart, do you? Yeah, the old fox might be one of the most racist PM ever but he knows how to leverage on smart people.
Inflation rate jumped to a 27-year high of 8.5 percent in August, thanks to the genius plan by Badawi’s 41% sudden fuel hike. Still, I have doubt about this so-called 8.5 percent inflation rate number. It’s not important though as most of the average-Joes on the street are mumbling about the next plate of food on the table. The latest numbers that spark the concern is the direct foreign investment (FDI) outflows from Malaysia. If you do not know what the heck is this and don’t bother, wait till you get laid-off *grin*. The latest numbers compiled by UNCTAD (United Nations Conference on Trade and Development) shows Malaysia scores another “first”.
For the first time, outflows of FDI surpassed the FDI inflows in 2007. Abdullah Badawi was right when he said the FDI inflows registered positive numbers – 38.94 percent increase to US$8.403 billion in 2007 from $6.048 billion in 2006. But what he didn’t or too afraid to tell you is the fact that the “FDI outflows” recorded a whopping 81.92 percent to US$10.989 billion in 2007 from US$6.041 billion in 2006. If you look at the chart for Malaysia FDI and if this represents the cash-flow of a company seeking listing (IPO), you had better run away fast from such “company”. In fact the FDI outflows were already bad in 2006 when it registered a puzzling 103.33 percent.
If you care to look closer at the chart, you’ll be surprise to note that the FDI inflows retracted in 2005 after Badawi took over the premiership. Of course the PM cannot put the blames on the regional foreign investment because for the same year (2005), the FDI inflows to the South East Asia increased by 10.91 percent. In fact in 2005 when the South East Asia FDI showed negative outflows (minus 18.77 percent), Malaysia continued to registered positive outflows of 44.15 percent *gulp*. And you know what is really funny about the statistic on Malaysia’s FDI inflows and outflows? Since Abdullah Badawi took over as PM from Mahathir in 2003 it appears that the “FDI outflows” (blue-bar in the chart) is racing at top speed to over-take the ”FDI inflows”. The F1-race was over in four years and finally the FDI outflows won the race when it successfully surpassed the FDI inflows for the very first time in 2007.
So can Abdullah Badawi put the blame on Anwar and accused him as a threat to national security and the country’s economy when he himself screwed-up the economy because he preferred to sleep on job? And now he’s passing the shits to his deputy after found his new toy (hopefully he doesn’t mistake the C4 as firecrackers during the coming Hari-Raya festival). There’s something funny and fishy about the episode of Anwar slowing down his pace in taking over the government. With Najib refused to go (cancelled) overseas and preferred to stay back in the country, the rumors that Badawi will be forced to announced his early retirement latest by next June (or March?) 2009 could be true after all. I bet Anwar likes Badawi to stay a bit longer as he has just began to have fun with this game of hide-and-seek.
Other Articles That May Interest You …
- PM to proceed with Gunfight, forgotten about fuel prices?
- Badawi to Quit but not before Anwar is put under ISA?
- Economy Meltdown – Stop being Selfish and Stubborn
- The Myth of 916 and One Last Racist Drama from BN
- Tsunami Politic Tsunami Stocks, waiting for Perfect Storm
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September 25th, 2008 by financetwitter
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Why do I get the sinking feeling that things are going to get worst before they get better?