Malaysia‘s GDP (gross domestic product) registered a growth of 4.6% for 2008, shrunk from 6.3% recorded in 2007 and lower that earlier projection growth of 5% (for 2008). However the fourth quarter’s (Oct-Dec 2008) growth was at disturbing 0.1% growth compared with 4.7% in the third quarter. That’s if you believe these numbers have not been cooked *grin*. Anyway giving the honest politician and finance ministry the benefits of doubt Malaysia was actually doing better *applause* than neighbor Singapore which was in negative territory – 4.8% contraction in the fourth quarter.

Previously Second Finance Minister Nor Mohamed Yakcop claimed that the government expects a 3.5% growth for 2009 despite a global economy downturn because the trick was the RM7 billion fiscal stimulus package. Immediately the PM-in-waiting and Finance Minister Najib Razak rushed to declare that there’s no possibility that Malaysia will enter recession this year. Now the Second Finance Minister who was also said to be the person who wiped out a whopping RM30 billion of nation’s money from forex speculation losses between 1992 to1994 is singing a different song, asking Malaysians to accept the reality that the global financial havoc is expected to prolong till next year and probably will affect the country.

Of course you can bet your last dollar that Najib will not open his big mouth again claiming something which even the first year economic students think otherwise, at least for now. After Citigroup and Nomura Holdings said Malaysia will see economic contraction of 1.5% and 4% respectively this year, RHB Head of Research Lim Chee Sing say the country is already in recession or perhaps is entering the recession depending on your definition of it. Malaysia’s export and industry production index have both contracted for the third month and if this is your measurement then the recession has already entered your door.

You may not like it and the politicians especially the PM-in-waiting who will be sworn in as the country’s sixth Prime Minister in another month may want to hide the fact but it appears that Malaysia may need to fight this recession alone. Despite President Obama’s jaw-dropping ambitious $1.75 trillion deficit budget to turnaround U.S. dying economy the first black president is expected to meet huge obstacles from both the Republican and the Democratic. Europe is having its own economic problem as its eastern poor members such as Hungary, Poland, Bulgaria, Romania, Slovakia, Czech Republic and others are begging for help. Even China with its 4 trillion yuan ($586 billion) plan to shield the country from economic slowdown is talking about the potential of the global recession disease spreading into the country. Everyone has their own problems.

Hence, instead of fighting a losing battle of regaining BN (or rather UMNO?) dignity via back-door capture of opposition states and in the process loses the people’s support it’s wise for Najib’s new administration to concentrate in combating the Great Recession (yeah I know I’ve wrote about this previously but you have to remind the empty vessel how to sail back home). The country may have the money to implement the much awaited second stimulus package (don’t ask me what happens to the first one) but the biggest question mark is whether there’s political will to be transparent and put in place an effective execution or implementation for the plan to succeed. But looking at how the leaders behave and manage their respective institutions you don’t need a rocket scientist to tell if leakages will prevail ultimately.

You can’t simply have a properly functioning brain if you think it’s alright to have a government whereby over 20 UMNO Youths were given easy access to an institution such as the Parliament so that these thugs can harass a helpless and wheelchair-bound Member of Parliament Karpal Singh. Strange as it may look but these disgusting, shameful and barbaric gangsters are nothing more than a bunch of cowards who only knows how to bully the weakest and if you happen to suggest they put on the same act against the Israel troops in the Gaza territory (one-way free tickets sponsored) or probably to have one-to-one fight with PAS supporters, chances are they would run or cry like babies begging for mercies. And don’t think for a second that these mobsters will not come to steal and rob from you if the economy turns for the worst *let’s pray this will not happen, shall we?*.

Equally sad is to have chief commissioner of the newly cosmetic-upgraded Malaysian Anti-Corruption Commission (MACC), Ahmad Said Hamdan, who thought it was perfectly alright for his son to import child pornography into Australia as he believes it was comparable to just a minor traffic offence. As long as you pay the summons then the story should ends there *and commit the same offence again?*. Also the chief commissioner does not think he should be linked to his son’s (child pornography) offence as if he didn’t play any part in his son’s upbringing. But the most puzzling yet amazing part was he actually endorsed his son’s action when he exclaimed that his son’s disgusting child pornography could be found on most men’s cell-phones. Now this is what I call a pervert mentality and I dare not imagine the contents of his hand-phone. He could have video clips that if revealed, would be more explosive than former deputy Speaker Vijandran’s 1988 sex video scandal.

Other Articles That May Interest You …

• Toll Hike for 5 Highways – Who Cares about you, Sucker?
• Why Cut the OPR Rate My Genius? Aren’t we’re Insulated?
• Ahoy there, Dow is sinking below 7,000-level
• What can Najib do to increase Rating and win Voters?
• Perak, PR, BN and Gamuda – It’s all about Business, Stupid
• Unemployment – How Bad Could It Get?
• Reason we
  do not need America’s Funniest Home Videos
• Stimulus Plans, to be spent Wisely or ended up Elsewhere?
• Greed & Corruption turn the country into Gangster-State?
• Why Can’t Public Enjoy the Benefits of Strong Ringgit?

Tweet

March 1st, 2009 by financetwitter

If you enjoyed this post, what shall you do next? Consider: