CONFIRM : Malaysia is in RECESSION

If recession in Malaysia is measure by the number of pair of shoes purchased by the girls and ladies,then is is CONFIRMED that Malaysia is in RECESSION.It is reported that female shoe customer will on average buy 10 pairs of shoes every year but for 2008,they on average purchase only 7 pairs of shoes.The shoe industry is feeling the pinch of the global economic meltdown as sales have dropped 25% since Hariraya.According to the Malaysia Shoe industry Association sales for 2009 will be worse. The number of pairs purchase by female is a good economy indicator as it show the purchasing power of the ladies.Many years ago,I have a girlfriend Jenny who have the same ideology in shoes as Imelda Marcos.When she go to a shoe boutique,she will buy not one or two pairs but three pairs at any one time. The maximum number of times she wear each pair of shoes is 5 times and subsequently these shoes will be display at her shoes museum until chinese new year where she will take all to her hometown Ipoh and the shoes is given to all the ladies and girls FOC.In good times the female will buy more than one pair of shoes at any given time but currently they will buy only 1 pair. Hence,the shoe industry is expecting a dropped in business of more than 30% for 2009.Therefore,a good indicator have proved that Malaysia is indeed in RECESSION.

CHANGE,CHANGE AND CHANGE

Congratulations to the people of USA for being BRAVE TO MAKE CHANGES in voting OBAMA as the 1st BLACK PRESIDENT of the USA. In Malaysia, we must also BE BRAVE in changing the govt from UMNO and BN to the opposition.In this current Economic Turmoil,we need a clean and transparent govt who work for the people and the country .Because of this personal interest,the govt of Malaysia is in great financial difficulties. Remember that the Japanese have thrown out the Liberal Democrat Party (LDP) which is the longest ruling party in Japan. In Taiwan,the Taiwanese have thrown out the KUOMINTANG Party (KMT) when the KMT does not carry out its responsibilities to the Taiwanese.Hence,Malaysia should follow suit by throwing out UMNO and BN in the next election.Usually,political party that are thrown out tend to do better the next time around when they govern and hence Malaysian must change the govt instead of the other way round.Hopefully when UMNO and BN are sidelined,they will change to become better political party.Judging from the political structure of UMNO,I will bet to mt last dollar that UMNO will not change and we the voter have to do UMNO a big favour by changing the govt.By the way ,CONGRATULATION TO BARACK OBAMA.

Govt has no right to touch EPF MONEY.

I totally agree with MTUC President Syed Shahir who oppose the govt for ordering EPF to lend RM 5 Billion to Valuecap for investment in the local stock market.The hard earned money of the workers does not belongs to the govt,hence the govt has no right to order EPF to lend RM 5 Billion to a secretive company named Valuecap which is owned by Khazanah and PNB.In the nineties when Daim Zainuddin was the Finance Minister,EPF was asked to give a personal loan of RM 400 Million to Tajuddin Ramli.Luckily,the MTUC representative in EPF know about it and MTUC expose this deal and it was subsequently aborted. I will not be surprised if the RM 5 billion will be use to help UMNO cronies who are in trouble as a result of the collapsed in the Bursa Malaysia stock market. It was reported that as at 15 October 08,Malaysia has a reserve of RM 371 Biliion.I can safely say that we do not have this big foreign reserves because if we have the money ,the govt need not ask EPF to loan the RM 5 Billion to Valuecap.It will not surprised me if our foreign reserves is ZERO. Another matter that worries me is whether Valuecap has thw ability to repay EPF or not.Somebody please advise as to whether how an EPF account holder like me can stop EPF from lending to Valuecap.

Govt of Malaysia in deep financial problems.

According to Bank Negara,the foreign reserves of Malaysia as at 31st august 2008 is US$122,580.8 Billion.If Malaysia really have this amount of reserves ,we will not be hit by a recession as this money can be use wisely to prop up and insulate the economy from the world recession.If you ask any business people,they will tell you that the economy is in deep slowdown with decrease in export especially palm oil and foreign investors withdrawing from Malaysia resulting a very weak stock and property market.With the reserves mentioned,the Govt can carry out beneficial infrastruture projects like widening the LRT.With the help of the MULTIPLIER effect,the money spend on infrastructure projects will help the economy to grow and prevent a recession in Malaysia.Unfortunately,We do not have the above amount as proven by the followings events and announcements.

1. Increase in petrol price by 78 sen.The Govt saved RM13.8 Billion in subsidy because of this increased.If we have the US $122 Billion,it is not a problem for us to cover the RM 13.8 Billion especially when we are a net exporter of oil.
2. Cancellation of many major projects like the Penang Outer Ring Road.
3. Today announcement where the govt order EPF to loan RM5 Billion to Valuecap,an investment vehicle to buy shares in Bursa Malaysia.

The above prove that the Govt of Malaysia is in deep financial crisis due to massive corruption by the govt of Umno and BN.

Maybank RESCUE SINGAPORE TEMASEK

Temasek,the investment arm of Singapore failed in 2 big investment totalling US10B that is US$ 5 Billion each in Citigroup and UBS Switzerland.Since both of this investment is bad,Temasek need a SUCKER to rescue itself from financial turmoil. That SUCKER is MAYBANK.Even though the world is in financial crisis,Maybank still insist of concluding the deal with Temasek and Kookmin Bank Korea to buy BII Indonesia at a price of Rupiah 510 when the stock market price is around 170 Rupiah. The reason Maybank buy BII is because Maybank and the Govt of Malalaysia were under the influence of a FORMER MINISTER OF FINANCE OF MALAYSIA to do this deal.This deal is done to return a favour to the Govt of Singapore for helping in the stopping of Dr Mahathir to stay as PM.This is where a big sump was loan by Singapore to the people in power to bribe all the ministers to support the current leadership and to prevent Old man M (who was contemplating to reverse his decision to retire)from staying as PM.The person who do all this arrangement is the former finance minister who was also a former major shareholder of Sorak which sold BII to Maybank.This deal is done at the expense of Malaysian taxpayers as the majority shareholders of Maybank is Khazanah Nasional,ASN and EPF.Thus, the attitude of the current leadership is same and we need to change the govt who have always mislead the RAKYAT.(Before this deal Temasek and Kookmin own Sorak).