I would be mean wouldnt I if i failed to provide an upbeat assessment of the Malaysian economy. Well, this set of data will soothe many a frayed nerve among the local populace:
mmm...ringgit to sink:
gas plants to be stuck with excess fart:
automobiles marooned in stock yards and ports with no drivers in sight:
foreign reserves to shrink as capital resume their outward journey home:
some tears for a bespectacled nerd:
6. more cheery news from our second finance:
note, warrior 231 had said something to the same effect here: "I have serious doubts as to the efficacy of stimulus packages in stabilising any economy. The American experience in the 30s do indicate that without the nation put on war footing (WW2), the New deal initaitives at best could not bring down unemployment below 18% + japan's Lost Decade is another example of how such packages have limited impact.Further, the misallocation of resources due to the pressures of pork-barrel politics and lobbying by vested interests could be detrimental in the long run.A better option would be to cut interst rates further, reduce personal and company taxes, freeze any impending increases in tolls, reduce electricity and water tariffs and apportion a chunk of the stimulus for food stamps, shopping vouchers etc targetted at the low-medium and the poor. The move to reduce mortgage repayments through longer repayment periods is one such initiative in the right direction...."
a tune subsequently hummed by commenters in the local press and chorused in the above link. but then again warrior 231 and me are just farmers..........right?
Revert: My prediction is a -4% growth rate and that is a tad too optimisticwith Q1 growth to be down by : -2.5%). but then again, i am a charlatan...................