Wednesday, January 30, 2008

Orang Yang Tak Tahu Ekonomi

I remembered watching a video of Anwar Ibrahim's speech in Kajang saying that he was prepared to lower the oil prices as his first act if the opposition wins the next general election. But in my opinion, it's dream on.

But then a line which from the speech reads: "When I do that, Najib will bash me. He will say, this man doesn't even know economics. Who says? Najib..." (a direct translation from the video, for the sake of international readers)

I came across an interesting piece from the Sun yesterday that simply reads "The Right Way to Fight Inflation" which contains an experts piece of advice of how to fight inflation. In there it does point out to three possible strategies that were introduced by the government a few weeks ago. The final point deals with having a national price council to ensure price efficiency and reduce price profiteering, which is a proper method, but the government had gone wrong with the first two.

The piece also said of a better way (contrasting to the Star's commentary) than stockpiling: removing the restriction of setting up business and bringing imports. Two more ways to do so is to pass benefit of price cut to consumers and removal of import duties. This is something that the Customs department and the government is not doing so. Anwar recently said that the old crude NEP is driving investors away. How will Eric Schmidt, Google CEO, do business in Malaysia if he runs into the NEP requirement if he sets his Google Malaysia up here?

Anyhow, it was a mistake for Abdullah Badawi to hide the actual economic data from the public. I think it was kind of preserving the feel good news image to the people, spins from the 4th floor boys. Any economic data expert who does a meticulous research can see through a thinly veil meant to mislead the public. Does those lies mean that Malaysia has no safety net, right? Now this shows an genuine example of 'Orang Yang Tak Tahu Ekonomi'!

See also @ Malaysiakini: Media Told to Control Coverage on Inflation

Disclaimer: I do not endorse Anwar despite some accurate facts from him.

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