According to Malaysiakini:
The package, which is equivalent to 9 percent of last year’s GDP, is broken down as follows:
- RM15 billion in fiscal injection
- RM25 billion in guarantee funds
- RM10 billion in equity investment
- RM7 billion for private finance initiative and off-budget projects
- RM 3 billion in tax initiatives
Now, I'm no economist, but I am a little skeptical at this point.
RM15 billion in fiscal injection
Is this gonna be like the RM5 billion "fiscal injection" into ValueCap to NOT pay for its RM5 billion due loan?
RM25 billion in guarantee funds
Government guarantee is nothing new la...Water concessionaires, highway concessionaires, any BN crony company worth its salt is guaranteed billions in profit every year, paid for by rakyat. So, I would like to see if there is anything new in this...
RM10 billion in equity investment
MORE money pumped into the stock market? I would like to believe that companies other than GLCs and crony companies will benefit from this. I would also like to believe that institutional investors are not going to make a killing at the market (like how they did when the previous PM lost untold billions of rakyat money into the financial market black hole to prop up the ringgit)
Anyway, for more details and questions that beg answers, visit anil netto's blog.
Just one interesting point I'd like to point out from there:
"The government will part finance RM5,000 discounts given by the national car-makers to those who replace their old cars (more than 10 years) with new Protons and Peroduas. (An earlier announcement said the discount was only for those with cars older than 15 years. Car sales down, huh folks? Very generous of the government to use our money to help Proton/Perodua. Why not invest this public money in public transport?"
Besides that, much of the money is seems to be going into more of the "same old, same old" - infrastructure projects.Hmmm....In my line of work, I benefit ZERO from the construction sector. SO how is the stimulus package going to benefit me?
SO, my first reaction is - this is nothing more than even larger UMNO/BN stimulus package. I will hold on that view until proven wrong.
Screw all the many polite comments of "looks like it's big enough, let's see if it really works." I have no such patience to wait and see. And I have no such trust in the UMNO/BN govt to do what's right.
then cut your ties with the government la if you do not trust them hehe
ReplyDeletebreak some laws also by not doing anything right.
break laws...and pay saman? No way....
ReplyDeleteI'm not gonna contribute more money to their pockets!
I say Yes, the way our Leaders are handling this very “Complex Global Financial Meltdown” issue….
ReplyDelete- We could join the many, many nations to go “Bankrupt” following Iceland….
- With the Global Financial Meltdown, NO Country or Government can understand & appreciate the “Actual Impact” to the “Nation” & its “People” until they get hit “Hard” like “Iceland.”
– and Malaysia could JOIN the many, many more to come!
- Malaysia badly needs “Role Model” established Leaders & Politicians of HONOUR with Calibre, Maturity & Tolerance without Fear or Favour & NOT Political OPPORTUNISTS – on BOTH sides of the Political Divide.
- Further this nation Desperately needs Intelligent, Time Proven Pragmatic Successful modelled, Financial & Politiical “SOLUTIONS” NOW on BOTH sides of the Political Divide, to MITIGATE the IMPENDING Political & Financial fallout.
- Whilst the MATURED & INTELLIGENT G20 Presidents, PMs, FMs, Governments are strategising & synergising their positions on the GLOBAL FINANCIAL “CHESS Board”….
- There is still no “Intelligent Structured Contingency plan nor Quantums” in place in this Bolehland….
- The UMNO/BN Leaders are still in “Euphoria & Denial” even at this 11th hour of our nation’s “Double Whammy, Political & Financial Tsunami” at our doorsteps….
- Our Jaguh Kampung still playing with “MARBLES” when the World’s G20 Leaders are are strategising & synergising their positions on the GLOBAL FINANCIAL “CHESS Board”….
- PRESENTLY our UMNO/BN Leaders “DO NOT EVEN Cross Talk” amongst themselves….
- Just HOW can they change their PARADIGM to ASK, LISTEN, ACKNOWLEDGE, REPENT, LEARN from the best Brains & Best Practices & Best TIME Proven SUCCESSFUL SOLUTION models….
- With the HUGE Resources Avilable OUTSIDE of their “Solution” Bankrupt Jaguh Kampung within UMNO/BN….
- From our neighbour Singapore & the World G20 Leaders who are Intelligently Brainstorming, Strategising & Synergising their positions on the GLOBAL FINANCIAL “CHESS Board”….
- Synergising & Harnessing their Best Brains & Best Practices SOLUTION Models….
- To LEAD their G20 nations & its people SAFELY out of this Financial Tsunami.
- Our Southern neighbour adopts the best criteria Brains, Politicians, Implementers, etc with Academic, Professional,
- With Long and Proven Track performance of “Excellence”, who are “Accredited and Remunerated” very well (from a few hundred thousand to more than a Million Singapore Dollars per annum) with “Structured Job Specs” in this 21st century context…
-….and they DELIVER!
- Sometimes Foreigners (Asian first, then others) are taken for a short contract period to “Groom” the Local “Best” personnel.
- Every National/State Project - DELIBERATION/Decision/ Implementation for the Nation, State and its People are “COST EFFECTIVE” and “NOT SURPLUS TO ACTUAL NEEDS”!
- As such no squabbles & disputes…
- Right person for the job at hand!
- Integrity and Accountability
- Either “deliver or else you are out”.
- With such a Policy in place....
- Their Senior Political Leaders, Politicians, Generals, CEOs, etc do not even have to be seen....
- but everything runs the way it should for the nation and its rakyat’s “Guaranteed Basic Needs”.
- In this Bolehland it is the reverse!
- They are the “True Leaders” involved in the “Bigger Vision” for the Nation’s International Political, Security, Economic, R & D, Manufacturing, etc Policy and Standing....
- The DBS, MAS and Termasek together have financial “Reserves” of more than 600 Billion Singapore Dollars....
- For a small nation, they HAD acknowledged, deliberated, identified and mobilized an “INTELLIGENT, STRUCTURED and DYNAMIC” contingency financial plan IN EARLY 2009, to mitigate this financial meltdown
- Ensuring a “MEANINGFUL Package” is ADDRESSED for its CITIZENS to CREATE a POSITIVE “CASH FLOW” & not for Corporate & Institutional “RESCUE & BAILOUTS”….
- to ONLY WET their “Huge Gaping APPETITE” with no Capital & Cash flow at the Userend “CITIZEN’S” strata.
- They have an initial package of 20.5 Billion Singapore Dollars and they are “Rock Solid” with their cash reserves of 600 Million Sing!
- Versus our Bolehland’s 1st Stimulus package of RM7.0 Billion & now RM60 Billion Stimulus Package …..
- This Bolehland has a “Long” way to go with their “Blatant Denials” & “Childish Charades” even at this eleventh hour, to be able to catch up!
- Can they CONFIRM Honestly or by UMNO Hadhari’s swearing To God Almighty….
- That UMNO/BN & its Leaders since 13 May 1969 have NOT committed ANY of the following :
10 Sins Against Humanity & Anak Bangsa Malaysia
Politics without Principles….
Religion without Compassion….
Power without Accountability….
Rights without Responsibility….
Business without Morality….
Development without Sustainability….
Knowledge without Character….
Science without Humanity….
Wealth without Work….
Enjoyment without Conscience….
At the end of the day, the UMNO/BN Leaders are having their “Orbs Squeezed” by their “CORPORATE & BUSINESS CROONIES” who are the “NEW MASTERS” of UMNO/BN & its Leaders.
My take on this whole Charade is….
- “TOO LITTLE TOO LATE, Mr Wannabe.
- You have wasted this nations scarce Funds with your last RM 7 Billion & this new RM60 Billion Stimulus package….
- for your Croony Masters & DEFINITELY not for the “Downtrodden Rayaat”
- Just how can you run this nation “Safely” (like any Decent Honourable father would do for his family) when you have so many Closet Skeletons to face at the coming UMNO Assembly Elections on 28th Mar, Nomination for the 3 bye-elections on 29th Mar, then the Elections on 7th April, etc, etc
- Didn’t you notice why Pak Lah finally “agreed” to step down on 31st Mar….
- That was planned & hatched by KJ & his 4th Floor schemers….
- For the Takeover on April Fool’s Day….yes, it was a Joke the Desperate Wannabe did not even notice!
- Our Constitution’s clause on the position of PM vs Party President…silent on DPM ’s position, etc, etc
- Why now PM is meeting & having lunch with DSAI?
- You go figure out guys….
- Failing which….People’s Power will Prevail & We shall Overcome….