It can happen in Malaysia, if we allow reckless and uncontrolled public spending


Dear Fellow Malaysians in Bukit Selambau (Kedah), Bukit Gantang (Perak), Batang Ai (Sarawak) and elsewhere,

This is in Zimbabwe (below) , fortunately not in Malaysia, at least not yet. But we can suffer the same fate as this young Zimbabwean boy if we are not careful and when we allow reckless spending by the present government as it seeks to stimulate the economy over the next 2 years, running into hundreds of billions of ringgit. Members of the Opposition including Datuk Seri Anwar Ibrahim who, as a former Malaysian Minister of Finance, is the voice of prudence, tried to caution the government about its scatter-gun approach to public spending.

Visiting the neighborhood grocer!
...Join Keralites, Have fun & be Informed.

What we need is a government that is competent, accountable and transparent. Inflation follows when we recklessly reflate the economy with public expenditure, which will only benefit cronies, party supporters, and favored companies. The UMNO-BN government is inclined to this when Najib Tun Razak recently presented his rm60 billion package.

It is reported just a few days ago in the mainstream media that the new Prime Minister is likely to spend another rm200 billion in 2010. Where is the money coming from? From our savings, or tax revenues or disposal of key government assets or external borrowings or even from the IMF. IMF? God forbid.

Please vote carefully. Make sure that you vote the party which has the best programmes to resuscitate our sagging economy. Based on its record of economic management since Badawi came to power in 2004, the UMNO-Barisan Nasional will not do the job for us. It does not have a proper economic recovery plan to help our country emerge from the worst economic crisis the world has witnessed. Even the 1929 Great Depression pales in comparision to the one we all will be facing in the coming months. —Din Merican

4 thoughts on “It can happen in Malaysia, if we allow reckless and uncontrolled public spending

  1. The BN is going to bankrupt the nation.

    What the stimulus package is designed to do is to maximise maximum return to oneself and cronies. You can look at the stimulus package itself and the beneficiaroies are not the only rakyat.

    Yes, nothing goes to the ordinary rakyat for sure. How to stimulate the economy ? It only stimulate the originator’s pocket.

  2. Remember Mugabe is a mate of Mahathir……in Southern Rhodesia in 1960’s was the richest state in Africa…they are the bread basket for the whole region…today Zimbabwe where it is now called, the whites have lost control, Africans in ZANU rule the roost…but the people are starving…cholera just wiped out a few thousands and the Government is in denial….after so many years of Black rule….they are starving and all they got to show for is a A Trillion (Schilling or Pound —local cuyrrency)note to show….

  3. “It is reported just a few days ago in the mainstream media that the new Prime Minister is likely to spend another rm200 billion in 2010. Where is the money coming from? From our savings, or tax revenues or disposal of key government assets or external borrowings or even from the IMF. IMF? God forbid.” Din Merican

    The U.S. is in a different position because of the position of USDLS as an international currency.

    In Malaysia out-of-control spending can only be funded by resort to the country’s printing press. So you guys get ready for massive inflation at home. It will come sooner than later.

Leave a Reply to Tay Soon Poh Cancel reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.