Another shocking idiotic proposal

While we are still digesting the ‘shock’   of hearing a minister saying  (the shock is more  because it is rare for a minister to be so frank and not the bankruptcy part) that if we don’t mend our way, we will go the way of Iceland and Greece, another shock is being created.

The country is burdened with this amount of debt (quoted from the Sun):

Our national debt stands at RM234 billion which is defined as external debt (inclusive of public and private sector). Our government debt stands at RM362 billion which comprises domestic debt (96%) and foreign debt (4%).”

 

While the government owes a debt of  RM 362 billion , someone announced that the Parliament is going to be shifted to PutraJaya at a cost of 800 millions.

At the rate these people plan their projects , Malayisa may become bankrupt even before 2019.  A big chunk of our operating budget goes to pay debts, and we should try to be more financially conservative to reduce this debt so that in future we will have more money for development purposes.

If I owe a bank 3 millions, I would definitely hesitate to spend 80,000 to renovate my house. I would rather use this 80,000 to pay off part of the debt.

No one knows how the future will be. If in the event of another financial meltdown, and our currency exchange rate drops, we would have trouble paying the yearly instalments of payments. So why not, while our currency is still holding well, pay off more of the external debt, and make sure that we would not be subjected to currency fluctuation like in 1997? That would be financially prudent.

Even if we do not use the 800 millions to pay off external debts, we can use it more productively, like improving Mass transits in city, or create more scholarships to send deserving students, rather than to build a Parliament hall as great as a 6 star resort. Britain has been using their Parliament buildings for centuries. Why can’t we do the same?

As a tax payer who has been paying taxes since I started work 30 years ago, I am aghast at how my  tax money is being managed now. there is a saying that “no  taxation without representation”, but what kind of representation we have now?

24 Comments (+add yours?)

  1. biker
    Jun 10, 2010 @ 12:16:17

    Your elected representatives have no idea how the country runs. They request quotations from professional sharks, have no competitive bidding, appoint family members & friends for billion dollar projects & when questioned in any forum, their response is usually to shoot or otherwise silence the questioner.

    our grandparents & parents voted these parasites in. Are we strong enough to vote them out now? 15 million Malazyians voted *aye* for another 4 years of the above… so how now?

    Like

  2. clearwater
    Jun 10, 2010 @ 12:23:41

    It is not their money, it is taxpayers’ funds that has zero cost to these humbug parasites and may even be of substantial benefit to they who get the fat construction contracts to build Parliament House 2 at Putra Jaya, another white elephant in itself. It makes me mad, then sick, then mad again that we can have such profligate people to run this country.

    Like

  3. dixon
    Jun 10, 2010 @ 12:32:26

    JPA told me they do not have fund to fund me overseas. Now they have fund for this! =.=!

    Like

  4. petestop
    Jun 10, 2010 @ 13:03:30

    How come the Rakyat take this sitting down ?

    Haven’t we had enough of idiotic politicians managing the hard-earned tax-payers money ?

    Like

  5. kplee
    Jun 10, 2010 @ 13:50:48

    Another yum yum for those greedy and corrupted big sharks in BN/UMNO. These bums have been starving for $$$$$$$ so long. It is time that our big daddy to give handouts. Not only that, i can guarantee there will be another cost overrun as usual. The amount will depend on how hungry these sharks are.

    Like

  6. disgusted
    Jun 10, 2010 @ 13:53:40

    It’s already indicating a few pointers in the economy.

    Firstly, with the impending GST, things going to get worse as far as the rising costs of food is concerned and naturally worse off, are the pensioners and poor income families including those with low fixed incomes.

    Secondly, the awarding of projects despite assurances of transparency will not work. The massive numbers of projects will be given before the next general elections under the same rotten system to cronies and political patronage.

    Thirdly, plans are plans and need not be followed as evident in the past. Boosting agri and agro-based industries as cited in previous plans are excellent examples of failure to cut down food imports and accelerate local food production.

    Fourthly, gullible Malaysians may feel impress with the empty rhetoric of the Plan. Nothing will change.

    Only the voters can change this system by changing this government. The bottom line is we just have to keep trying and even though it might not be easy. More Malaysians just have to be more aware of the rot and remember them the sins of this government.

    Like

  7. Dr Hsu
    Jun 10, 2010 @ 14:06:44

    The next few years will see a lot of hardship , especially for those living in urban area.

    GST, removal of subsidy, and get rich quick mentality of traders , will make everyone of us spend more , but income level would be rather stagnant.

    A few years ago (2006), I wrote an article, “will Malaysia be marginalised?” At that time, Malaysia can still be competitive if it bucks up. Now, it has actually gone down low, and it is not easy to climb up.
    Unless and until there is a total overhaul of economic policies, with emphasis on market forces and meritocracy, we will soon be marginalised. It is really a pity that we have so much but we did not treasure what we have, and in the end, it is the abundance that will do us in.

    Like

  8. mykantree
    Jun 10, 2010 @ 14:30:56

    Does anyone still harbour any hope that this government is managed by a gathering of sane humans?

    Even pigs can be trained to count….just visit the Sri Racha Zoo in Thailand.

    Like

  9. foo
    Jun 10, 2010 @ 14:36:21

    Our BN politicians have problem understanding graphs and stats presented by Jala. Many have poor maths skill but understand “commissions” and “percent”. They cannot fathom what “bankrupt” is, they live in a different planet altogether. They are not ordinary people like you or me who work for a living. They get things free and hardly spent a single cent of their own money. Being in “debt” is not something to be ashame of for them , because it is not them in debt but us ordinary folks

    Like

  10. disgusted
    Jun 10, 2010 @ 14:39:24

    Dr, actually it’s more than tragic.

    There is no future allowing this country to go on without a 2-party system.

    You will be surprised to know the corruption has seeped in really deep into everywhere. A friend of mine is into import and export. He said even in port Klang, money needs to be dispensed if his trailer wants to load faster otherwise waiting time up to 5 to 6 hours. So most give and perpetuate the corrupted system. Land ownership is another can, not open up yet with tons of worms, Ownership of land disappearing overnight through computer records. Sorry, just a drop example in a sea of corruption.

    We complained to relieve our disgust really, deep in some of us, there is only one united voice, boot this government out. There is nothing much to say. If I am reborn here a billion times, I will vote them out a trillion times.

    Like

  11. CYC
    Jun 10, 2010 @ 14:54:23

    Why worry, more operation budget means more allocation for BN component parties “development fund”. This is how our government run the country without a clear definition between govt and party so that politicians from top to bottom can enrich themselves endlessly.

    Only idiots like MCA & Gerakan members still dream of prosperous Malaysia under BN’s rule. They are part and parcel of the evil regime.

    Think hard, instead of reforming the economy they creates more holes by reintroduce Mahathirism. Holland is not that far from us now.

    Hopefully, Tony Pua’s 2007 prediction will come true – BN will fall when the economy crumbles in due course. And I just can’t wait for it to happen soonest possible. I would rather face the hardship earlier but shorter period rather than enjoy know and suffer indefinitely later.

    Like

  12. disgusted
    Jun 10, 2010 @ 15:24:06

    CYC, well said.

    Like

  13. CYC
    Jun 10, 2010 @ 15:50:59

    This country favour those who law/rule breaker, not law abiding citizens. They give discount to repeat traffic offenders. The same goes to those who owed the highest amount due to Land Office, TNB, Syabas, TM.. and list goes on. Similarly, big corporation who defaults on bank loans will normally gets a hair cut on accumulated interest due and we proudly call it corporate restructuring. But when u and me defaulted on a small loan rest assure u will be convicted in court in the shortest possible time frame.

    Just check with any land and district office, u will see the majority of quit rent and assessment defaulters are big corporations and some big shot with political affiliations. Then see who rob the rakyats land in Bandar Utama. Who own the BU8 building next to Centerpoint ? Still regard Gerakan as the conscious of BN?

    Any idea how could a businessman successfully tendered abandoned development land from Danaharta with 100% financing from a local bank with no means or intention whatsoever to rehabilitate it but merely aim to make some big fat quick money by securing JV partners.

    Why are politicians so fond of giving out Surat Sokongan to companies/individuals for application of land, permit……..etc.? What are they based on when giving such letters? To help the poor citizens? kick backs ? or they are actually the real applicants? This sums up why are there so many aspiring politicians who want to join the ruling coalitions.

    Our bus service used to be much more efficient during the 80s when there were several bus companies like Tong Foong, Len Seng, Sri Jaya and the mini buses plying the routes with Klang Valley. It ONLY deteriorate when the govt under TDM kicked out all these players and replace it with a single monopoly operators who only know who to acquire new buses but f..ked up service and end up servicing immigrants, legal and illegal. My humble suggestion : just get back the ex Tong Foong or Len Seng boss/GM, and he solve the problem in due course. No need foreign consultants who costs millions RM.

    Don’t trust the xxth Malaysia Plan as anyone can dream and write a story thereon. Have u not heard the repeated echos from fund managers, analysts reservations on our govt’s capability in execution or constant derail from the original objectives ? Just see if it is a net sell or net buy on Bursa Saham by foreign funds in the coming months. What magnitude of influence does this plan had on their investment decision?

    Finally, don’t ever agree on building a RM800 million new Parliament building just for a bunch of morons who only good at hooligan acts but cannot debate intellectually on issues affecting the well being of the country. Both ruling and opposition MPs included. Oops… the 3rd “false” also included.

    Like

  14. msan
    Jun 10, 2010 @ 16:01:46

    “Wa tolong lu, lu tolong wa”

    If they do not spend money, how can they make money?

    The only way is to vote them out, come GE13.

    Like

  15. Li Li Fa
    Jun 10, 2010 @ 17:58:24

    Dr. Hsu,
    Thanks for your article which is most mind boggling and disturbing.

    I am disturbed in the mind of the amount of money is being spent uncontrollably in the name of prestige and living-it-up as an up-and-coming nation, when there are more pressing priorities to apply the funds.

    The nation’s forefathers would turn in the graves knowing of the ways they lavishly spent money.

    At this rate, the nation doen’t need to wait for 2019 for the words of IJ to come true. So God help us! Someone has quelled IJ’s warning. What will become of IJ now that he has been done in?

    Can GE13 come earlier than expected?
    Can Taxpayers United say or do something?

    Like

  16. foo
    Jun 11, 2010 @ 00:01:14

    all these billion dollar projects are to finance BN’s warchest for the 13th GE.

    If they fail to regain control over Putrajaya then the next best thing to do is to bankrupt the country ,leaving PR with a massive headache. This is the art of war just like what Saddam did to Kuwait’s oil field after withdrawing his troops . Between now and next GE be very alert about BN’s announcements on public spendings, BN politicians applying PR status in other countries , tranferring funds abroad and some might quietly quit politics to escape limelight and enjoy ill-gotten gains.

    Like

  17. foo
    Jun 11, 2010 @ 12:56:48

    All these mega projects are to fiLL BN’s GE13 warchest.

    If they fail to retain Putrjaya, the next best thing to do is to bankrupt the country-let Pakatan inherit a headache.

    This is the art of war-not let the victors enjoy the spoilts of war.Good examples, Saddam burning the Kuwaiti oilfields after withdrawing his troops and the Balkis affair in Selangor just after GE12.

    The 2 examples are done after losses but now BN / UNMO politicians are preparing to milk the country bone dry before departing the scene.

    Like

  18. klm
    Jun 11, 2010 @ 13:49:34

    With this kind of scenario, why be law abiding. Let anarchy rule. Do what you want. To hell with the rest.
    Dont pay tax. Dont bother about the traffic rules. Throw your cigarette butts on the road. Let society deteriorate. Let the muggers and snatch thieves rule the street.

    Like

  19. CYC
    Jun 11, 2010 @ 14:28:10

    With the number of foreign expatriates reduced by 50% over the last 8 years(2000-2008) and FDI CAGR at 1% (2000-2007), can we really reverse the trend? What more with over 70% of our total workforce with only SPM qualification? Do we have a real idea of what SPM is equivalent to ?

    Najib provides lips service only. Imagine a country who incurred 70% of its budget on operational costs while the remaining on development, would u think it will grow ? Wrong priorities yield wrong results. Do we call this talent development or remnant conservation?

    In a nutshell, Najib is contradicting himself and confuse the rakyat. On one hand, he try to sell his NEM idea and on the other hand he keep awarding contract with the due process of transparency which forms the core principles of NEM. Good luck to Malaysia with this even more flip-flopped PM than AAB. Let Ibrahim Ali whack CSL and KTK like dogs kaw-kaw.

    Like

  20. CYC
    Jun 11, 2010 @ 17:41:45

    Dr, Chua Jui Meng’s datukship stripped and MCA hauled up a branch youth leader for messing with the party song. So, will u be the next victim Dr ?

    I see the dawn of a better tomorrow. No need to read the hints from 推背图。But we need to suffer a little while before the ray of warm sunshine rise from the horizon.

    Like

  21. Dr Hsu
    Jun 12, 2010 @ 10:05:58

    CYC
    The fact that till today, none of the other clinics in my area got the audit like mine means that the audit that was done was a subtle message to me. But I dont think my party ould do anything to me since all the while I am only voicing out the ideology of ‘fair and equitable society, along non racial lines”. Unless of course the BIg Brother pressured them, that is another matter. I am too small a fry for the Big Brother to take notice….Except that little napoleons may send a subtle message on and off…

    Like

  22. Dynamic
    Jun 12, 2010 @ 12:23:42

    Dr Hsu,

    Do you not longer a small fry? You have many followers, and more and more people like to follow you Blog. You have the influence.

    We admire your courage and your effort in educating the public.

    Cheers my honorable Dr Hsu.

    Like

  23. aca
    Jun 12, 2010 @ 17:42:29

    dont get too exasperated doc.

    its in the blogsphere. you will probably have to change your car no plate for RM150 from either of the crony companies to be appointed by the newly appointed Arab-blood Ketuanan Melayu Umnoputra. And its compulsory unless you want to go to jail.

    Reason? Better ask the cronies of UMNO.

    Like

  24. atila
    Jul 12, 2010 @ 03:36:52

    http://ibnuyaacob.com/?p=1517

    Setelah sekian lama membiarkan Malaysia dikuasai penjajah-penjajah Freemason UK, kini pada tahun 2010 barulah bapa segala konspirasi Yahudi antarabangsa, House of Rotshchild membuka pejabatnya di Kuala Lumpur.

    Ketibaan raksasa konspirasi di Malaysia ini adalah kesinambungan dari pengumuman Perdana Menteri Malaysia yang memberi kebenaran kepada agen Rothschild iaitu Goldman Sachs Bank untuk membuka pejabatnya di Kuala Lumpur buat pertama kali.

    Di dalam laporan yang dikeluarkan oleh FinanceAsia, ia menyebut Datuk Seri Najib tun Razak telah mengeluarkan lesen kepada bank Yahudi ini pada 8 Disember 2009 sebagai isyarat membenarkan pembukaan cawangannya di Malaysia.

    Walaupun di dalam laporan tersebut menyebut bahawa Goldman Sachs hanya dibenarkan menguruskan institusi kewangan (yang berkaitan Malaysia) di luar negara tetapi pembukaan pejabatnya di sini sudah memberi spekulasi ekonomi yang kritikal dikalangan para pelabur tempatan.

    Penjenayah Ekonomi Antarabangsa

    Goldman Sachs adalah individu yang disyaki menaja perang Israel-Palestin pada 2008 lalu (kami namakan ia Perang Konspirasi Dajjal). Kesemua konspirasi-konspirasi teoris barat seperti Texe Marrs, Alex Jones, David Icke, Jeff Rinse dan lain-lain bersetuju sebulat suara bahawa perang tersebut didalangi oleh keluarga Rothschild melalui agennya Goldman Sachs Group.

    Kini bank penjenayah utama antarabangsa dibawa masuk dengan mudahnya oleh kerajaan Malaysia melalui lesen yang dikeluarkan oleh Malaysia Security Commission (MSC).

    Apa yang lebih menyakitkan ialah apabila Lye Thim Loong dari Avenue Investment Bhd. Mengatakan,

    “It’s good for Malaysia, Goldman is a good premier name, so it will add some spice to the market.”

    Goldman Sachs adalah Pembuat Keputusan Ekonomi Amerika

    Apakah kerajaan Malaysia tidak sedar bahawa kejatuhan ekonomi Amerika pada September 2008 yang bermula dengan Lehman Brothers adalah perancangan Goldman Sachs di Amerika?

    Apakah profesor-profesor ekonomi di IPT-IPT di Malaysia tidak meneliti laporan-laporan audit dan kenyataan-kenyataan billionaire-billionaire Yahudi dalam Bloomberg, CNN, CBS dan forum-forum ekonomi antarabangsa?

    Apakah penganalisis-penganalisis yang dijemput berceramah dalam forum-forum ekonomi dalam televisyen tidak sedar bahawa Timothy Geithner (bekas Pengerusi Federal Reserve Bank) adalah orang suruhan Goldman Sachs?

    Adakah mereka-mereka di atas tidak sedar bahawa bank paling kaya di dunia adalah Goldman Sachs bukannya bank-bank di China, Jepun dan Eropah seperti yang diwar-warkan oleh Majalah Forbes?

    Adakah mereka-mereka di atas juga tidak sedar bahawa maksud ‘kekayaan’ yang sebenar bukannya dinilai pada carta top ten keluaran majalah Forbes tetapi ia bermaksud ‘Siapa Paling Berkuasa”?

    (Dari kiri) Lloyd C. Blankfein (Goldman Sachs), Kenneth Chenault (American Express Group), Kenneth Lewis (Bank of America) dan Ed Yingling (Presiden Persatuan Bank-Bank Amerika).

    Keempat-empat orang di atas adalah individu yang bertanggungjawab melobi kemenangan Barrack Obama sehingga menjadi presiden dan akhirnya Obama akan mengikut plan ekonomi yang diputuskan oleh empat Yahudi ini dalam waktu-waktu yang dirancang.

    Penganalisis Ekonomi di IPT Perlu Aktif

    Sepatutunya tugas menghujahkan isu ekonomi seperti ini perlu dipertanggungjawabkan kepada para pensyarah dan profesor-profesor ekonomi melalui blog-blog peribadi mereka. Mereka tidak boleh hanya menyebarkan nota-nota kuliah sahaja tanpa mempamerkan kehebatan sebenar dalam bidang mereka.

    Para pensyarah-pensyarah sepatutnya lebih pro aktif di dalam bilik kuliah bagi menyebarkan permasalahan-permasalahan ekonomi di Malaysia dan antarabangsa. Penyebaran dan perbincangan isu-isu itu boleh menimbulkan mahasiswa yang berfikiran kritis dan analitik.

    Isu kemasukan Goldman Sachs di Malaysia bermula awal tahun 2010 ini perlu dihebah dan dibahaskan di kelas masing-masing secara drastik. Mahasiswa-mahasiswa ekonomi perlu didedahkan ilmu cara membezakan pelabur ekonomi dan penjenayah ekonomi.

    Kemasukan Goldman Sachs ke Malaysia juga sangat mengecewakan pelabur-pelabur tempatan kerana di dalam dunia saham dan ekonomi, Goldman Sachs dianggap sebagai Gengster Ekonomi yang boleh mengugut sesiapa sahaja bagi mengikut dasarnya hatta kerajaan sekali pun.

    Kehadiran Goldman Sachs ke Malaysia dalam suasana ekonomi dunia yang tidak memberangsangkan kemungkinan berkaitan dengan keputusan agen-agen Yahudi Zionis yang terlibat dalam mesyuarat Bilderberg 2009 lepas.

    Walaupun sebenarnya Goldman Sachs sudah menguasai saham-saham beberapa syarikat besar di Malaysia beberapa tahun dahulu namun pembukaan pejabat rasmi di Kuala Lumpur adalah titik tolak kepada permulaan empayar konspirasi yang sebenar.

    Kesimpulan

    Harus diketahui bahawa keluarga Rothschild sekarang tidak lagi menggunakan istilah ‘Rothschild’ dalam pembinaan penguasaan empayar ekonominya di peringkat dunia. Nama itu sudah menjadi klasik dan sejarah keluarganya dan ia sudah dikecam diperingkat antarabangsa melalui pendedahan pelbagai kes-kes konspirasi.

    Kini keluarga Rothschild menjalankan aktiviti konspirasinya melalui bank-bank pelaburan yang mempunyai sejarah tersendiri yang walaupun pada dasarnya tidak kelihatan berkaitan dengan Rothschild tetapi hakikat yang sebenarnya ialah ia dikuasai sepenuhnya oleh keluarga Rothschild dalam kaedah yang sangat licik dan sistematik.

    Cawangan pejabat organisasi Rothschild di Malaysia sudah lama di daftarkan di alamat berikut;

    Tingkat 29, Menara UBN, Jalan P.Ramlee, 50250 Kuala Lumpur. (No. Tel: 03-2687 0966)

    Tetapi apabila Goldman Sachs (cawangan Bank Rothschild) membuka pejabat barunya di Kuala Lumpur kelak, tidak dapat dipastikan adakah mereka akan menggunakan alamat yang sama seperti di atas atau sebaliknya. Kemungkinan juga Goldman akan menggunakan cara APCO Worldwide memasuki Malaysia iaitu dengan cara menggunakan alamat pejabat Mind Team Sdn Bhd di Midvalley, Kuala Lumpur serta beroperasi di pejabat yang sama.
    *******************

    Dr. Hsu,
    lets see how much Goldman will rob
    Malaysia next?

    Like

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