The Star
Tuesday October 21, 2008
Funds to buy undervalued
stocks raised to RM10bil
The Government has doubled the amount of money available to buy undervalued stocks to RM10bil and will also continue with its spending to boost the country’s economy. Finance Minister Datuk Seri Najib Tun Razak announced that these two moves were part of the Government’s plan to ensure that the economy would not be affected by the global financial crisis caused by the meltdown of banks in the United States.
1. The US/Europe is now in the process of trying to find out why the financial system collapsed. It is now investigating AIG and credit default swaps. http://www.bloomberg.com/apps/news?pid=20601087&sid=axgmP1GYdrFc&refer=home
2. The world financial system has indeed collapsed, despite a lot of people not being aware. Mahathir is aware, http://test.chedet.com/che_det/2008/10/the-financial-turmoil-and-mala.html
3. People right now are not so concerned about 1 and 2 above. They want to know how to fix it.
4. During the Great Depression in 1929, the problem was fixed by governments acting as "spender of last resort". That means, even when no one is spending, the government can continue spending. Of course, that means printing money. Why are people not spending? Economy is bad, they just want to save. And if nobody spend economy become worse.
5. Today, it's slightly different. Governments all over the world is preparing for the worst; another Great Depression. What are they doing right now? The same thing they did in the 1930s (they got study history one); acting as spender of last resort, in case the whole world goes into recession.
What is different this time is that they cannot print money fast enough. $700 billion, how to print? Ink also cannot dry fast enough. So now they are using the highest form of martial arts - man fatt chiew choong. Just SAY ONLY.
$700 billion! Malaysia, $10 billion! (Ah Cub $10 million only, coming in. This one, already come in.) Europe - we guarantee anything, all your deposits, anything. Malaysia also say we guarantee all your deposits. Where the fuck the world got so much money? Don't care lah, say only.
Niamahkai. Solving the world's financial problems is easy only isn't it?
PS. Ask them try to solve this one lah. This article dated March 14, 2008. ($53 trillion only. Your mother fried chicken...) http://edition.cnn.com/2008/US/03/26/beck.deficit/index.html
2 comments:
Today people are starting to ask what happened.
So, they are lining up all the big shots to be questioned by the authorities.
The first on the line to be questioned is Alan Greenspan, former Federal Reserve Chairman who held the post for almost 20 years.
A lot of fingers are pointing at him, saying that his strategy of lowering interest rates to no end during his term of office has led to the current economic and financial problems.
So, Mr Alan was put on the stand to answer to all the charges against him.
What was his response? He admitted he made mistakes. And his mistakes were (1) he believed in the free market. Now, it turned out that the free market screwed up. (2) he believed the gigantic banks and investment banks know how to look after themselves and their shareholders interest. They will do everything to protect their own interest.
To sum up, his mistake was that he believed in the free market and the banks.
Good tactic of passing the buck. Fantastic! Nobody can question the free market. It is defended by the world's greatest economists, not Alan Greenspan alone.
As for the banks, they can't defend anything - they already bankrupt. TLMKCH.
So, Round One looks like Alan Greenspan won on knockout.
Wangarimahah h......... !!
WTF, now our Najis tell employee save 3% less for EPF. Let the employer die by itself, no need to reduce. Only reduce for employee.
You think got use ah?
This is how our Malaysian government solve our financial problems.
Chau Kai....
Post a Comment