A tale of 2 nations

This is sent to me by not less than 3 persons via emails the past few days. The author has done a great job in listing the reasons for Greece’s predicaments.

Read through it and does it sound very familiar?

Are we going to go the Greek way?

This is it:

Subject: Why and how Greece collasped

I have just watched a documentary regarding Greece’s financial and am appalled ! These are the why’s and how’s that this historic and beautiful country came to grieve.

Bureaucracy: Greece’s bureaucracy is famous in the whole of Europe ! To open a cafe or pub there are 25 processes to go through !! This is a country of rules and regulations.

Bloated civil service: There are 1.05 milliion civil servants (excluding police and armed forces) . The population of Greece is only 10 million !! More than 10% are govt servants !! Salary increases every year and benefit for civil servants in Greece is one of the best in Europe !! More and more money is needed to upkeep this bloated civil servants . The retirement age is 62 yrs old.

Corruption: Greece is the most corrupted nation in the Eurozone. Citizens pay “under table ” money to:

# admit into a public hospital

# pass a driving licence

# to enter public service

# renovate your business premises or your home

# avoid income tax

Every govt project is awarded to political cronies and at hugely inflated prices ! Transparency International compared the prices of the construction costs of stadiums built for the Athens Olympics recently with similar structures in China –500% more expensive than the Chinese , compared to Los Angeles and Sydney — 50 % more expensive !!! All these with tax payers money ! and borrowings !!!

Tax evasion: Officially 80% of its citizens are supposed to pay tax but only 37% are doing so. Big businessmen and corporations have refined tax evasion to a fine art ( or have the tax men taken some coffee money ? )

No transparency in governance: The politicians and bureaucrats falsified economic data and painted a rosy and manageable picture while the economy was rotting away .

Unabated borrowings: Meanwhile, the politicians and bureaucrats continue to issue govt bonds to keep afloat, series after series. They were trying to cover up the financial mess they have created creating one big hole to cover up the previous !!

Lacking political will power to reform: To keep hold on to political power, politicians are prepared to lie, commit economic and political fraud. If reforms were taken some five years ago , the country need not go bankrupt and its citizens need not suffer so much. Political expediency and greed to political power over-rides everything and hence Greece is now a bankrupt country. Luckily, it is part of the European Union and its currency is EUROs, otherwise Greeks will have to eat grass to survive !!

Laid back attitude: Tourism is THE ONLY industry in Greece and over the years the Greeks have had an easy time. Many flocked to see the historical sites. enjoy summer vacation on the islands. But they forgot that not many tourists will return after visiting the sites –there are so many other tourists attractions in the world, maybe more exotic and perhaps cheaper !! So once tourism vanes and couple with higher costs of living –the Greeks could not and refused to adapt and transform –still partying and having a nice time — maybe the Greek Gods will bless them !!! Greece have no natural resources, no electronics industry , no R & D –no anything !! They were so laid back –cannot see what is coming and crashing down on them. Even now, the civil servants refused to take a pay cut — the world owes them a living !!

Poignant Conclusion:

The producer of the documentary had hired a taxi driver to go around while doing this documentary. The taxi driver had studied economics for 4 years in US and this was his parting words:

“My biggest mistake was returning 15 years ago, I should have stayed back in US. My nationalist instinct made me returned. The politicians screwed me. I loved my country but my country did not love me !!!!

20 Comments (+add yours?)

  1. clearwater
    May 14, 2010 @ 09:54:50

    Deja vu. Mr. Greek taxi driver, you have articulated it for many Malaysians who returned home to find the same brand of politicians ruining our country. We may yet find our own Greek tragedy in time to come.

    Like

  2. Lai Kee Kong
    May 14, 2010 @ 09:57:15

    The writer did not mention the billions spent on bailing out the banks. The tipping point came when the banks needed a bail out. The Greece economy was also tied to the Euro currency, cutting the one mechanism that could have prevented this disaster. When the economy weakens, the currency would fall, making imports more expensive. The economy could automatically react by cutting expenses and putting the brakes on spending. However, all these mechanism is Not available. Cheaper currency will also encourage exports and tourism. Greece should never have entered the Euro zone. Don’t have such a big head, don’t wear big hat.

    Like

  3. klm
    May 14, 2010 @ 10:02:41

    Sound a bit like Malaysia. We are only slightly better off. Have’nt we not read almost the same words from some one else in Malaysia.

    Like

  4. CYC
    May 14, 2010 @ 11:25:18

    I wonder if keep on printing money can solve the problem, then what is use of exchange rate ? Just top up by printing your own currency if your demand for foreign currencies increases until it balance up. And secondly, what are they base on to justify the value of the additional money supplied through such act. U can’t create something out of nothing.

    Do u think the world has recovered from the financial crisis based on the recent output data? Personally I doubt it very much. I know nothing about international economic and financial system but base on logic.

    Reform is necessary but not entirely according to IMF and World Bank’s scripts. They have ulterior motives and driven by greed of those shielded behind these 2 Santa Clause to milk the victims.

    Malaysia govt is generous to help only during buy elections. Millions were spent for 1 or 2 constituencies. Common sense will tell u this is wrong. How are they going to have enough money for development of other constituencies? Upfront spending more means lesser left for those at the back of the queue. This is similar to creative accounting when one front load heavier expenses for certain period to capitalise on tax benefits, in this case fish for votes. What happen next is another issue to worry later.

    Like

  5. pilocarpine
    May 14, 2010 @ 12:06:08

    malaysia is probably goin greek’s way…

    but it is still not too late for political reforms… hopefully…

    similarly, we have more and more govt bonds coming up…

    luckily we dont cont to party, and we made the gahmen realize we seriously wants a political reform

    if we seriously fall, we seriously need to eat grass liao.. because we dun have any Asian Union or Asro currency..

    Like

  6. sosong
    May 15, 2010 @ 22:23:26

    Why do the taiko, germany, france etc, allow greece to join euro i the 1st place???
    very scary to think what may happen?

    Like

  7. disgusted
    May 15, 2010 @ 22:27:54

    Think of it, Greece is one of the oldest civilisation in human history and she is sinking, stop short of further evolution, thanks to corrupt politicians.

    Not surprising, blood sucking creatures.

    Like

  8. Li Li Fa
    May 16, 2010 @ 17:30:38

    The message I get from the above write-up is that the fabric of Greek society is slowly tearing apart. It this goes on the entire truth will be exposed and the consequence will be disastrous and irreparable.

    Just looking at our nation, I am not pointing fingers but if we are not careful the same will happen here and even worst will be the outcome.
    Do we want a Greek tradegy to happen to the Malaysian story, if there is 1? Will there be a stich in time?

    Like

  9. el teh
    May 16, 2010 @ 18:10:25

    This sounds like Bolehland where the civil service is really bloated!

    Like

  10. disgusted
    May 16, 2010 @ 22:47:20

    No news yet on Sibu but DAP should win by 400 votes with more than 68pc turnout.

    A sweet win but the postal votes is something to think about that reduce DAP votes by more than 1,000 more.

    Like

  11. klm
    May 17, 2010 @ 09:13:55

    Yeah! DAP won Sibu, albeit by a very small margin. But a win is a win. This win is of great significance as it is the first beach head of PR’s in Malaysia. This is like landing on Normandy on D-Day.

    BN’s fixed deposit in East Malaysia has been cracked. This is the worst nightmare for BN’s leaders.

    George Chan – deputy CM, was quoted as saying that BN were caught off sided by two issues:

    1. “Allah” issue
    2. Bible

    He had no answers for these. These were West Malaysian problems. Well brother, let me tell you. There is only 1Malaysia. No West Malaysia and no East Malaysia. We should not need any passport to enter East Malaysia. The Allah and Bible issues are also problems for East Malaysia.
    Freedom is worth more than bribes and promises.

    Like

  12. CYC
    May 17, 2010 @ 11:06:58

    KTK,

    Is Najib’s “You help me, I help U” a bribery? Or u wants him to say it more clearly like ” Please help me to bribe u with your own money”

    Either way it goes to show that Gelakan is a party supporting corruption, lack of moral and guts to right the wrong.

    An idiot fools himself all the time. A fool expects for glory without sacrifice.

    Read the messages on the wall : 1. PR won despite lower turnout. 2. PR won despite scandalous open bribes. 3. The youths no longer want BN to rule the country.

    Like

  13. A true Malaysian
    May 17, 2010 @ 11:37:51

    Postal votes are a farce to me. Pakatan Rakyat needs to tackle this problem.

    With this Sibu win, REFORMASI is now spread to Sarawak. Sabah will be next.

    Umno has its formula all gone wrong to attract back Malaysian votes, especially the Chinese Malaysian.

    Despite all the cheats and malpractices, Umno still cannot win. We know why, but not Umno & BN.

    Like

  14. disgusted
    May 17, 2010 @ 14:27:33

    The civic conscious NGOs must push for reforms in the “pussycat.” The handling of the postal votes by this Sleazy Pussycat Commission is questionable.

    That’s why I said, Malaysians MUST adopt ONLY ONE issue for their voting reference. Example, you are not happy with the traffic congestion, vote on that ONLY.

    If you are not happy with pussycat, vote on that only. If you are not happy with Golekkan, vot on that only. ONLY then we can see some real results. Vote on ONE issue close to your heart and forget other issues and sideshows by the crooks in power.

    Like

  15. CYC
    May 17, 2010 @ 14:44:31

    U r right, disgusted.

    Lets initiate a campaign to kick out KTK & get Helakan out of BN now, Dr Hsu. Otherwise, your image as its member will be tarnished and Gelakan will be wiped out from history book.

    Reason only 1 : For immorally supporting “Please help me to bribe u with your own money” This not only make us a fool but our intelligence were severely insulted.

    Don’t let the disgraceful KTK hold on to his post. I can stomach the insult he has inflicted upon our dignity and honour.

    Like

  16. Nick
    May 17, 2010 @ 15:14:39

    The lack of transparency on postal votes is highly worrying. How come these votes all tilt towards BN? Who are eligible? Are they phantom soldiers? How come they are only announced “after” normal ballot boxes are counted? Were these votes all cast by the top people in the hierachy, in short, the ordinary men and women have little say? Do they cast their votes in the barracks or through the postal system. Somebody educate me. DAp got away with it this time, close shave but just imagine without this devil’s machinations, Sibu would have been won hands down by DAP to send a clear message to UMNO/BN —> Go to HELL!

    Like

  17. Rufusgutz
    May 17, 2010 @ 16:03:22

    Are you talking about Malaysia?

    Like

  18. Dr Hsu
    May 17, 2010 @ 16:13:35

    rufusgutz,
    i think it is understood which 2 nations I am talking.

    Like

  19. atila
    May 23, 2010 @ 06:10:40

    Dr. Hsu,

    all that is what we r supposedly to perceived from world economies and from books, and
    we hardly realise WHO orchestrate the world.

    From 2009, 1 got some Msian frends liasing with Greek govt for infra projects after nwo group meeting in Greece May 2009.

    At first i thought what the heck krazy my frends up to with this debt bed-ridden country.

    I much understand after watching this

    Like

  20. atila
    Jul 12, 2010 @ 03:31:44

    http://ibnuyaacob.com/?p=1529#more-1529

    Sesuatu yang perlu diketahui oleh ahli ekonomi Malaysia ialah penyebab kejatuhan ekonomi Greece baru-baru ini adalah berpunca dari Goldman Sachs. Apakah Malaysia mahu perkara itu terjadi di negara ini?

    Goldman Sachs memang sangat berpengaruh dalam penguasaan keputusan-keputusan ekonomi peringkat kerajaan. Mereka mampu membuli pelabur dan bank-bank tempatan mengikut dasar-dasar zionis mereka tanpa sebarang ancaman.

    Di Amerika sahaja kita dapat melihat bagaimana Lehman Brothers yang dikatakan gergasi ekonomi dunia boleh mengikut arahan Lloyd Blankfein (CEO Goldman Sachs) agar memindahkan semua dana bantuan USD5 billion yang diperoleh dari kerajaan Amerika kepada Kementerian Pertahanan Israel.

    Pada Oktober 2008, Mexico mengalami kejatuhan ekonomi yang teruk sehingga mengakibatkan puluhan ribu rakyat berdemonstrasi di jalanan bagi menentang pentadbiran Presiden Manuel Lopez Obrador. Semuanya berpunca dari mainan kotor Goldman Sachs yang menguasai bank-bank tempatan melalui agennya iaitu Menteri Kewangan Mexico yang dikatakan berdarah campuran Argentina-Israel.

    Pada 16 April 2010, Suruhanjaya Sekuriti Amerika (SEC) membuat pertuduhan rasmi bahawa Goldman Sachs Group telah menipu sebahagian besar pelabur-pelabur di Amerika melebihi nilai USD1 billion.

    Tapi di Malaysia, kerajaan melalui Suruhanjaya Sekuriti Malaysia (SEC) tetap meneruskan lesen kebenaran kepada Goldman Sachs untuk beroperasi di sini.

    Pengerusi Goldman Sachs bagi rantau Asia Tenggara ketika hadir dalam satu majlis di Petaling Jaya telah mengeluarkan kenyataan berikut;

    “The future outlook for Malaysia’s capital markets and its asset management industry is very positive and through our local presence we look forward to playing a larger role in their development.”

    (dinyatakan dalam akhbar The Star, 9 Disember 2009)

    Permainan ekonomi dari gengster-gengster Goldman Sachs ini mungkin menjadi lebih mudah kerana syarikat bapa konspirasi mereka, Rothschild Malaysia sudah menetap di Malaysia sejak 2006.

    Rothschild Malaysia Sdn. Bhd.

    Kemasukan Rothschild di Malaysia bermula dari pembukaan pejabat Rothschild di Singapura pada dengan nama NM Rothschild & Son. Syarikat gergasi tersebut mempunyai seorang wakil Malaysia yang menjadi ahli lembaga pengarahnya iaitu Pn. Rosnah Omar, bekas Pengarah Urusan Bank Bumiputera Malaysia Bhd.

    (Gambar atas) Pn. Rosnah Omar (bertudung) juga menganggotai jawatankuasa LOFSA pada 2003.

    NM Rothschild & Son (Singapura) memilih Rosnah menyertai mereka pada 1998 kemungkinan disebabkan pengalamannya yang luas dalam bidang perbankan di London dan New York selama lebih 8 tahun dalam syarikat Prudential Bache Securities, Bankers Trust International dan Security Pacific Hoare Govett.

    Bermula tahun 2005, NM Rothschild & Son (Singapura) telah membuka cawangannya di Kuala Lumpur dengan melantik beliau sebagai pengarah cawangan. Andaian yang boleh dibuat ialah Rothschild cuba memanipulasi karismatik dan kepakaran rakyat Malaysia ini bagi menaruh kepercayaan kerajaan dalam membawa masuk gengster-gengster bank dari Amerika bagi membuli bank-bank tempatan.

    Ini ditegaskan sendiri oleh Rosnah dalam satu ucapannya;

    “With our (Rothschild) historical background, strength in M&A, international exposure and role in a growing number of cross-border deals, we believe we can work with local banks.”

    Perlantikan Rosnah Omar sebagai Director General bagi Labuan Offshore Financial Service Authority (LOFSA) pada Julai 2003 juga merupakan satu perkara yang perlu diperhatikan oleh pakar-pakar ekonomi. Kita sedia maklum bahawa LOFSA berhubung terus dengan Menteri Kewangan memberi laporan dan nasihat dalam pengurusan bank-bank offshore.

    Teori PRU 2011 : Pakatan Rakyat VS Rothschild

    Sekiranya Pakatan Rakyat (PR) memenangi PRU13 yang dijangka pada 2011, maka realiti pertama yang bakal dihadapi oleh kepimpinan tertinggi ialah pengaruh agen-agen Rothschild yang menguasai sistem ekonomi di Malaysia.

    Dengan pengaruh ini, bermakna PR terpaksa menghadapi krisis ekonomi yang bakal dicetuskan oleh gengster-gengster bank dari Rothschild jika sekiranya dasar-dasar ekonomi yang diminta oleh mereka (gengster) tidak dipenuhi oleh kerajaan PR.

    Kejatuhan ekonomi mendadak selepas kemenangan PR 2011 akan mewujudkan krisis kepercayaan yang kronik terhadap kredibiliti kepimpinan Pakatan Rakyat.

    Ilmu ekonomi dunia yang dibina oleh Yahudi Zionis bermula dengan bank. Bank dijadikan sumber kekuatan dan kayu ukur kepada kejayaan ekonomi sesebuah negara walaupun negara tersebut mempunyai minyak. Menguasai bank-bank dalam sesebuah negara bermakna menguasai keseluruhan nyawa ekonomi negara tersebut. Ini kerana bank memegang poket simpanan rakyat dan geran-geran harta rakyat yang dicagarkan.

    Kesimpulannya, sekiranya PR menang, ia belum boleh lagi menarik nafas lega kerana seluruh ekonomi Malaysia dikuasai gengster-gengster asing.

    Selain itu, pemimpin-pemimpin PR juga harus meneliti semula mesej ucapan dari Baron David de Rothschild tentang Malaysia pada Mac 2006 lalu;

    “This new office reinforces our long term presence and commitment to Malaysia. We have great confidence in the Malaysian economy and look forward to growing our business.”

    P/S : maklumat-maklumat tentang Rothschaild Malaysia tidak sulit, ia boleh didapati dari Suruhanjaya Syarikat Malaysia (SSM) dan majalah-majalah ekonomi tempatan.
    ******

    Dr. Hsu,
    everything in our system is NWO.
    We are at the mercy of NWO.

    Like

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