The Malaysian Insider

Why you asking us for time now Najib? You been dicking around with PKR and Perak and the Selangor MB all this time while the country's economy was crashing all around us. And now you ask for time? You and your UMNO are one BIG joke. You are NOT FIT to be PM. You should be a bumbling clown in a circus. As an investor, I do not have confidence in you or your (in)abilities to head government.

The economic downturn started from last Oct 2008, it is already 5 months lah! Liars, hypocrites & continuous denials are the usual pratices. But we can see Najib has plenty of time in dirty politics orchestra until today.

As far as we can see, the govt EPU did not call in all elite business leaders in various industries to sort out the root causes & work out counter measures. Hypocrites only talk but no actions!

The first stimulus of RM7 billion was a total failure for the new finance minister. He is totally lost and has no clues as to how to tackle this economic tsunami that has engulfed the whole world.

More time? Does the bank give us more time to settle our housing loan? Does the company give its employees more time before laying them off? More time for what? To figure out how best to target the money and focus it into cronies' pockets? The hard facts and realities are here and now! We are entering into a global recession. If Malaysia has not entered into a recession yet, more time given... we will be in a recession! By then, any stimulus package may be too late. Act now! How can he say that the current external environment which is "deeper and more serious than anybody anticipated"? It is a global impact. It is already bad. A recession is a recession. Is there a scale to define a recession and how deep a recession? Focus the stimulus to stimulate value generation. Not into something that does not bring about multi-tiered value generation. Cut taxes. You want people to purchase cars. Cut the import and protectionist taxes. Cut imcome taxes. Allow income tax payers to pay by instalments. Increase salary of civil servants. There's plenty more ideas out there.

only GLC and big company & cronies my have advantage from any package. for those SME/SMI like ours, will be difficulty to get aid.

why fumble over it now.
7 billions already spent...Where? how?
u need more time to get your proxy ready for the 30 billions?

Over the years, UMNO and BN have squandered and peculated away national reserve to depletion, even EPF/KWSP was not spared.

To date, we have not seen any positive effect resulting from the skimpy 7b stimulus plan. It is only less than 2 weeks from 10 March, Najis is still unable of fixing the 2nd stimulus package. All he has been giving us is empty promises, hollow consolation, meanwhile, petrol price stay steep, tolls are going up, employment rate is soaring. There will soon be tempest in social stability, robbery, snatching will increase by the day.

People are left to be on our own again, drifting along in the billow. Some survive, some die, notwithstanding all will suffer (except the UMNO/BN ruffians who will continue to indulge in luxury).

Whose fault is this? the corrupted UMNO and BN!
It is time they the seats and let the capable and righteous helm take over.

In Malaysian history, UMNO and BN will go down in notoriety.

Since we will left to heal on our own, we might as well get rid of the leeches that suck our blood. That way, we will recover better.

Tulah...masa org sibuk bagi tahu ekonomi kita nak gawat....asyik nak menafikan...konon foundation kita strong lahh...banyak reserve lah....eksport kita masih kukuh lah...bla bla bla.....now kelam kabut pulak. Hei why dont u just remain in a denial state just like before.

To give time or otherwise is not up to the public which has no call; make some noise may be.
The economy is the one which is impacted or stimulated hence it is the call of the driver. The question is who is the driver? We should think the one at the wheel is the driver and who is at the wheel now?

Najib, you're already proven yourself as a failure. Step down now or forever tarnish the name of your ancestors. You have brought shame to yourself, your family, your race and your country. Stop your talk cock sing song!

It doesn't seem like any amount of a stimulus package is going to have any effect on the Malaysian economy. Chances are a large percentage of the billions will be lost in transit as the funds will not be injected directly back to the people instead the transition would be invisible to everyone's knowledge. Knowing how the Malaysian government works, I would therefore apply Murphy's law (Anything that can go wrong will go wrong) accordingly then further enhance it with Finagle's law (Whatever can go wrong will go wrong, and at the worst possible time, in the worst possible way).

Najis we want lower income tax and lower corporate tax, and NO lower employeer EPF!

rosmah has not finished the number crunching and has not decided who gets what projects! good luck malaysia...

One of the fastest way to put money back into the pockets of the rakyat is to reduce the petrol price, no fear of slow implementation by the bureaucrats, certainly less opportunity for the funds being siphoned off.

Need more time to do what? When everyone else was taking measures from as far back as last August to booster their economy, like Singapore and Japan etc, what were we doing? Our Najib was making statements in denial of the global economic downturn as if it was just some heavy rain that will pass in minutes. Fruk him now for wanting more time. And he was wasting time by playing dirty politics in Perak, making himself the head of BN liason and buying representatives.

And what RM7 billion package? We are 20 over million population only RM7billion. His own one time commission is half billion! Busturd! Now he wants more time when he has done nothing so far. Just like his predecessor. 6 years that AAB did nothing only when he is to be removed, he does some sandiwara like MACC and JAC, all actually nothing but mediocrity BS.

Dear Najib,

Is toll rise part of the stimulus package ? WTF !!

http://www.thestar.com.my/news/story.asp?file=/2009/2/26/nation/20090226112045&sec=nation

Lowering EPF by force? (without telling the rakyat that they may face a higher tax bracket with higher disposable income). Lowering bank's BLR (without properly informing the rakyat that they may end up paying more in interest and prolonging the repayment period). What the F*** have you been doing as a Finance Minister? Scoundrelling money all the while? Busy transferring funds to Perak? Any LCCI or ACCA grads can do a far better job than you. Why don't go back to secondary school and learn your debit/credit from scratch? Beware, don't let Rosmah take too much money from you, GBP is low now and LV bags are cheaper than before, check her wardrobe and see how many she has already??

PM in line? I see no future in Bolehwood!!!!!!!!

first, he says the country will "sail" thru' the tsunami.
now, need more time to plan
next, wait for another 4 years for next general election

With the Global Financial Meltdown, NO Country/Government can understand & appreciate the "Actual Impact" to the "Nation" & its "People" until they get hit "Hard" like "Iceland."

Iceland has a population of about 300,000 citizen, half of whom have their "Home" there, work overseas, enjoy the "Welfare State Benefits" but do not pay "Taxes" from their "Oversea Income"....

Alot of "Wheeling & Dealing" goes on with the "Hot Russian Oil Money" available leading to the "Carefree MAX GAIN US Investments, etc"....

And "Bang" the US Subprime Financial Market Bubble "Burst" resulting in the "Collapse" of the Icelandic "Financial Market & its Economy"....

Today even their "Millionaires" are "Crying" when their Icelandic Kroner is only worth 20%, so you can imagine how the rest are surviving....

No jobs, no money, no future in sight....hungry people...so they "Protested" until the Government of the day....

"ACCEPTED THEIR FAILURE NOT THROUGH CORRUPTION THOUGH"....thereafter "GRACIOUSLY & HONOURABLY STEPPED DOWN ENBLOC".

A "New Government is now in place" to "Salvage" the nation !

Do you know what is happening in this Bolehland ?

With the "Double Whammy" Financial & Political Tsunami at our doorsteps....there is still no "Structured Contingency plan nor Quantums" in place....

Whilst the G20 Presidents/PMs/FMs/Governments are strategising & synergising their positions on the GLOBAL FINANCIAL "Chess Board"....

In this Bolehland....

Mahathir wants to retire gracefully but....cannot yet...with Mukhriz's position still "Hung."

Pak lah also wants to retire gracefully but....cannot yet...with SIL's position still "Hung."

Bank Negara's Zeti also wants to retire gracefully with a UN position but....cannot yet...as PM & Finance Minister/PM wannabe are still....

"Quarreling with PR & Anak Bangsa Malaysia with POLITICS JAGUH KAMPONG ala KINDERGARTEN style & still playing with Marbles" when all the other nation's PM & FM are playing "Chess."

We the "Rayaat" have to be "Proactive" and it is a matter of "What can I do for myself & my family NOW" rather than "Ayooo...will the gomen help me...how to live with no money lor !"
SOON....it will be "Every man for himself"....

So please consider repositioning yourselves & family financially (mortgages, Loans, educational expenditures, etc); Rentals cheaper than loans >50% repayments; downsize your cars/loans; reposition your profession, career, jobs, etc;

As such...my frenz....“Pleez Fasten your seatbelts tight” to safely ride this "Double Whammy" Financial & Political Tsunami !

flyer168 - i like your comments - it puts a smile on my face in such grim times. Actually fundamentally Malaysia is definitely better placed vs extremely open economies like Singapore Hong Kong or Taiwan. However exports as a % of GDP for Msia is very high (not as high as Spore but still!)... Exports are falling globally hence you see crazy headline numbers coming out of Japan. Msia is fortunate with its rich resources.

Be on the look out for Msian imports used for processing and re-export. If import starts falling more and more it's a sign that things are not picking up.

I have an uneasy feeling about the future of Malaysia's economic situation.

Our foreign exchange reserves have plunged from a massive US$124 Billion in August 2008 to US$96 Billion in December 2008 – a loss of US$28 Billion in a mere three months. It is expected that in the coming months, our reserves will decrease further.

The initial RM 7.5 million stimulus plan appears insufficient and the Government have indicated a second one is necessary. How much is required and where is the money coming from? Although Mr Najib may have said that Malaysia have sufficient surplus to cover this, I am not so sure. With the decreasing surplus, it is possible we will have insufficient money to fund the second stimulus.

Which then perhaps explains the statement made by Mr Abdullah that "we will be alright as long as we have sufficient money". Question again is, will we have and where will the money be coming from?

In the Wednesday January 7, 2009 Business Times (NST), it was reported by CIMB Investment Bank that the Govt is likely to sell a record RM73b worth of bonds this year to fund economic stimulus spending.

RM73 million! Ouch! That's an awful large amount of money.

Will EPF be forced to take up most of these bonds? What if the economy remains stagnant or worse, deflates for the next 3 years - the most likely scenario given our experience in 1982 and 1987 - how will the government pay back EPF? Will they print more money?

To have to borrow from the EPF means we appear not to have sufficient reserves. We are like the US ... insufficient reserves but in fact a large deficit (borrowings). How much is Malaysia's deficit now? RM50 billion? Or more? Especially in view of our continuing weakening Ringgit.

So what will happen if we start printing more money? Ringgit's value to drop further? Until zero?

Sorry to be an alarmist but I think the road ahead looks bad. Real bad. And I have not even started questioning where all the RM 7.5 + 73 billion is going to.

We need more time to allow our stimulus package to show the effect....we will review time to time.....if 7 billion not enough , we will add another 15 billion to further boost the economy.....we forsee our economy should recover very soon, if rakyat can be patient more another 4 years.........hey, why don't we put any tom & jerry to be our finance minister??????????

Its always darkest before dawn and the Sun shall again shine after every storm.

Have faith, work hard & smart, remove all forms of hatred and anger from your system and pray to God with a real good, kind & generous heart and next year spring will again come

Do you need a Guarantee Card on this ?????????????????????????????????????????????????????????????

i know what I am talking about, cos I have went through this type of White Barbarians-made Dark Tunnels a few times.........and each time there-after, the property and stupid car price doubled & tripled. and people started to spend as if tomorrow never comes.

Do not disdain of your situation in life for it is there for you to face, suffer and conquer. And conquering it will be much easier when done in One United Will. There is no other way to defeat this potent Force.

For if the ECONOMISTS are so bloodly great, we won't be suffering this types of repeated economic downfalls over and over again..this proves that the World's economic books needs to be re-written in a more human-friendly and practical ways.

Universities should not be using OUT OF DATE and OUT OF TOUCH books to churn out tomorrow's generation with yesterday's mindsets that are useless even for today.

I rather consult an Astrologer; for at least he is not day-dreaming.

Dear NAJIB,I really have very little faith in your coming stimulus plan.Since the days when I was in my primary school ,BN govt has been telling me we are a developing economy and after 50 years, today we are still a developing economy . How do you think the rakyat would perceive of your economic plan? Where is the WAWASAN 2020 ?Under the carpet?

Errata : RM73 million! Ouch! That's an awful large amount of money" should read "RM73 billion! Ouch! That's an awful large amount of money".

Too much time and energy plotting to topple PR States instead of working with them.
After all they too have a right to govern in peace.
Now the BN government has lost its focus and time is something the world economy does not give you.
Precious time has already been lost and there is no light at the end of the tunnel except empty promises.

Despite President Obama's stirring speech last Tuesday night, Wall Street fell the next day. For no other reason than the stimulus package money already approved by Congress had not kicked in the economy yet. The effect will take weeks or months. Without the money, there's no money to invest. Without the investors, Wall Street will continue to slump. But at least the action has been taken in the US and it is only a matter of time before the recovery. Time is of the essence, and time is short.

In Perak buat kerja bodoh. Real work forget. now ask for patience. Hello, almost all nations have come out with their packages except maybe Zimbabwe. hehe

you are one of the thousands of contractors who can get projects costing RM500k or less without tenders.
That is how a lot of the stimulus package is going to be spent - propping up inefficient contractors who do not know how to make competitive bids.
Yeap.... that's how the money will be circulated like this:

I guess each RM500k will generate at least another RM500k in the markets like RM100k "kopi duit" etc.

LAWL.... Najib's first step to failure. Very unbecoming statement to say especially before the official date he becomes PM. Failure is imminent and in his vocabulary.

More time? My foot. Give you more time so you can find enough C4 to shaft it into the package and blow it to pieces. That's why you need more time, Mr soon-to-be PM.