Dec 31, 2011
Dec 23, 2011
Dec 18, 2011
Dec 13, 2011
Rakyat to Unite Against Corruption and Injustice
The Rakyat to Unite Against Corruption and Injustice.
Thursday, 15 December 2011
Time: 8 PM
Venue: Markas Tarbiyah PAS Taman Melewar
Lorong Haji Hassan, Taman Melewar,
68100, Batu Caves Selangor
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Dec 11, 2011
Dec 8, 2011
Peaceful Assembly Bill is an Injustice under International Law!
(Extract from Malaysiakini)
A group of UN human rights experts has warned that the Peaceful Assembly Bill not only restricts the right to peaceful assembly, including street protests, but also conditional access for media to public gatherings.
UN Special Rapporteur Maina Kiai voiced “deep regret” that the Human Rights Commission of Malaysia (Suhakam) or civil society was not meaningfully consulted in the drafting of the bill.
In a statement released by the group, Maina (right) said the bill contains a vague definition of assembly and also places broad restrictions and conditions on gatherings, which he described as giving “excessive authority” and power to law enforcement officials and the home minister.
“Many of these restrictions are not justifiable under international law. It also gives discretion to the police to make any form of recording of assemblies,” said Maina who is the UN Special Rapporteur on the rights to freedom of peaceful assembly and of association.
The bill was tabled for its first reading by Minister in the Prime Minister's Department on Nov 21 and it was passed hastily with some amendments less than a fortnight ago, on Nov 29.
The bill was passed amidst awalkout by the opposition MPsafter debating the bill, and also a protest by more than 1,000 lawyerson the same day.
The bill also includes a prohibition on non-citizens and citizens under the age of 21 to assemble peacefully.
Malaysia is a member of the UN Human Rights Council until 2013.
Alarmed by restrictions
Another Special Rapporteur, Margaret Sekaggya (left), said she is alarmed by the provision prohibiting citizens below 21 years of age to assemble.
“Political and social participation through peaceful protests are not only an educational experience for children, youth and students but also an investment for society as a whole,” she exclaimed.
Frank La Rue, another Special Rapporteur on the right to freedom of expression, has urged the Malaysian government to seriously reconsider the adoption of the bill.
“The ability of all individuals to express themselves freely, including in the form of peaceful assemblies, is a litmus test for the level of democracy in any country.”
Fracois Crepeau (left), a Special Rapporteur on the human rights of migrants called for an urgent review of the bill.
“Everyone has the right to freedom of assembly and association, without distinction of any kind, including nationality,” said Crepeau.
All the cited experts report to the UN Human Rights Council, Geneva, in an independent and unpaid capacity.
Last July, the office of the UN High Commissioner for Human Rights voiced concern over the apparent use of excessive force against protesters on the July 9 Bersih 2.0 rally.
A group of UN human rights experts has warned that the Peaceful Assembly Bill not only restricts the right to peaceful assembly, including street protests, but also conditional access for media to public gatherings.
UN Special Rapporteur Maina Kiai voiced “deep regret” that the Human Rights Commission of Malaysia (Suhakam) or civil society was not meaningfully consulted in the drafting of the bill.
In a statement released by the group, Maina (right) said the bill contains a vague definition of assembly and also places broad restrictions and conditions on gatherings, which he described as giving “excessive authority” and power to law enforcement officials and the home minister.
“Many of these restrictions are not justifiable under international law. It also gives discretion to the police to make any form of recording of assemblies,” said Maina who is the UN Special Rapporteur on the rights to freedom of peaceful assembly and of association.
The bill was tabled for its first reading by Minister in the Prime Minister's Department on Nov 21 and it was passed hastily with some amendments less than a fortnight ago, on Nov 29.
The bill was passed amidst awalkout by the opposition MPsafter debating the bill, and also a protest by more than 1,000 lawyerson the same day.
The bill also includes a prohibition on non-citizens and citizens under the age of 21 to assemble peacefully.
Malaysia is a member of the UN Human Rights Council until 2013.
Alarmed by restrictions
Another Special Rapporteur, Margaret Sekaggya (left), said she is alarmed by the provision prohibiting citizens below 21 years of age to assemble.
“Political and social participation through peaceful protests are not only an educational experience for children, youth and students but also an investment for society as a whole,” she exclaimed.
Frank La Rue, another Special Rapporteur on the right to freedom of expression, has urged the Malaysian government to seriously reconsider the adoption of the bill.
“The ability of all individuals to express themselves freely, including in the form of peaceful assemblies, is a litmus test for the level of democracy in any country.”
Fracois Crepeau (left), a Special Rapporteur on the human rights of migrants called for an urgent review of the bill.
“Everyone has the right to freedom of assembly and association, without distinction of any kind, including nationality,” said Crepeau.
All the cited experts report to the UN Human Rights Council, Geneva, in an independent and unpaid capacity.
Last July, the office of the UN High Commissioner for Human Rights voiced concern over the apparent use of excessive force against protesters on the July 9 Bersih 2.0 rally.
Nov 25, 2011
CALLING THE RAKYAT! YOUR FREEDOM IS AT STAKE!
Walk For Freedom 2011: Peaceful Assembly Bill Cannot And Must Not Become Law!
Tuesday, 29 Nov 2011 at 11:30 am, From Royal Lake Club to Parliament
Read more HERE
Peaceful Assembly Bill 2011 is a HOAX!
MEDIA STATEMENT ON
THE “PEACEFUL ASSEMBLY BILL 2011”
At a time when more Malaysians are pressing for democratic
rights, the new Peaceful Assembly Bill 2011 tabled in the Dewan Rakyat
yesterday proves beyond doubt that Najib is a congenital liar.
Most convincingly, this new Bill bulldozes to the ground
whatever empty promises Najib made on Sept 15 when he announced that he wanted
to give Malaysians more freedom via a progressive package of social and
political reforms including a review of Section 27 of the Police Act and the
abolition of the Internal Security Act (ISA) and the Restricted Residence Act.
MCLM opposes this proposed law which we deem as a repressive
tool to restrict civil freedom because it accords the police even more power to
arrest individuals.
While the new Bill does away with the need for a permit to
gather in public, alongside is a raft of new restrictions including barring
protesters from taking to the street - a form of assembly in motion, or
procession which is already legally recognised in section 27 of the Police Act
1967.
The Bill is a public comedy of contradictions. On one hand,
the Bill requires people to provide 30 days' advance notice for assemblies,
except for those in designated areas as defined by the home minister but on the
other hand, it prohibits “street protest” - a move inconsistent with section
10(e) (viii) of the Bill itself.
Just last year, the government withdrew its reservations to
Articles 1, 13 and 15 of the CRC on 6 June 2010, thus allowing children “the
freedom to have their say, and the right to form associations and assemble
peacefully”. With this new Bill, children under 15 are not allowed to take part
in assemblies, except in cultural or religious events such as funeral corteges
or events approved by the home minister. Those under 21 years of age are not allowed
to organise assemblies.
Why bother with tabling another Bill to amend the Police
Act, which will take away the need to obtain a police permit prior to
organising an assembly and then impose MORE restrictions with this new Bill?
The new Bill goes against the genuine spirit of human rights
as specified in the Universal Declaration of Human Rights, the Federal
Constitution and the promise of the Prime Minister to institute democratic
reform.
MCLM is appalled that in a tweet, Najib said: "We (are)
transforming our laws to protect constitutional rights of our citizens to
assemble while protecting public order (and) security of Malaysia."
Instead of protecting our constitutional rights, he is
robbing us of those very rights under a hypocritical mask called transformation
of laws!
MCLM views with grave concern that all the pre-conditions,
prior approvals not forgetting the restrictive legal provisions and greater
empowerment of the police will severely discourage and dissuade the freedom of
peaceful assembly, which is a basic human right.
MCLM calls upon every right-minded MP to oppose this bill
when it is debated in Parliament tomorrow for the second reading and for civil
society to rise and reclaim their rights by publicly opposing this unconstitutional
Bill which must NOT be passed at all.
If this Bill is passed, it will prove beyond doubt that the
current BN government will NEVER keep whatever shallow and empty promises made
in a feeble whitewashing tactic to gain brownie points.
Haris Ibrahim
President
President
Nov 24, 2011
Nov 16, 2011
AUNTY BERSIH AND KAK ROSNI LAUNCH PETITION CALLING FOR ELECTORAL REFORMS!
Annie Ooi Siew Lan and Rosni Malan have pleaded with the king not to dissolve Parliament until electoral reforms have taken place.
Rosni’s husband, Baharuddin Ahmad, died from heart complications during the rally. Ooi, nicknamed “Aunty Bersih” was seen being sprayed with chemical-laced water cannons and tear gas during the rally.
They are asking the king, Tuanku Mizan Zainal Abidin, to use his discretion to not consent to Parliament’s dissolution anytime soon.
Speaking on their behalf, their lawyer M Visvanathan said: “What we’re trying to achieve is to put enough pressure on the powers-that-be, especially the Yang Dipertuan-Agong, to invoke his discretion. He does have the discretion, it should be exercised in this case.”
“It is not a demand…(We ask) that the Agong use his discretion not to dissolve Parliament.”
READ MORE HERE
Nov 15, 2011
DON'T LET HER WALK ALONE
SHE WAS THERE FOR OUR HOMELAND, WERE YOU?
SUPPORT AUNTY BERSIH, BE THERE FOR HER PETITION LAUNCH.
DATE: WEDNESDAY, 16 NOVEMBER 2011
TIME: 2.00 PM
VENUE: GROUND FLOOR, KUALA LUMPUR & SELANGOR CHINESE ASSEMBLY HALL (KLSCAH)
READ MORE HERE
Nov 13, 2011
Overseas Malaysian Filed Lawsuit against Election Commission
Overseas Malaysians file suit against Election Commission
A group of Malaysian citizens overseas has filed a lawsuit against the Election Commission (EC) asking the High Court to compel the EC to register them as absent voters. The group of six Malaysians, who all work in the UK, applied to be registered as absent voters in order to be able to vote in the coming general election, but were instead registered by the EC as ordinary voters, who must return to Malaysia to vote in person.
At present, the EC only allows government servants, members of any armed forces and full-time students to register as absent voters, so as to be entitled to vote by post at the next election. The bulk of Malaysian citizens living overseas, who are working in the private sector, and those who are retired or unemployed, are required to return to Malaysia to vote in person.
In addition, although the existing regulations allow all Malaysian students over the age of 21 to register as absent voters, Malaysian students overseas who have attempted to register have had to overcome many obstacles put in their way, with some embassies and consulates refusing to register students who were not sponsored by the government, and others refusing to register students who had previously registered as ordinary voters at home. Although the EC has clarified that all students are eligible to register as absent voters, as recently as this month, the Malaysian consulate in New York was still telling students that only government scholars could register as absent voters.
Read More HERE
Nov 8, 2011
Nov 2, 2011
Overpaid RM270 Million
The Auditor General Report for 2010 has shown that the Tourism Ministry overpaid close to RM 270 million for advertisements.
The reports expressed that the Tourism Ministry had direct awards without any tender being called for it's advertisements. The Auditor General had further noted that if the Ministry had held an open tender the advertisements would have cost RM75.38 million instead of more than RM345 million expended.
The Auditor General had noted that the Tourism Ministry had breached the Treasury regulations as extended in a circular in 2007.
More Irregularities under the Tourism Ministry as Reported HERE and HERE
Nov 1, 2011
Oct 30, 2011
Oct 23, 2011
Stupid Cow
The stupidest comment of 'em all
by Thomas Lee Seng Hock
I am simply amazed and stunned that a person of Tan Sri Muhyiddin Yassin’s status can come out with such a stupid comment on the case of Lim Guan Eng’s son.
The Deputy Prime Minister cum Education Minister (sic) has remarked that Guan Eng’s denial of the sexual harassment claims against his son was “inadequate”.
Muhyiddin told the media on Saturday 22 October 2011 that if the Penang chief minister “thinks it is important to correct the information, then he has to come up with a strong statement; mere denial is not enough.”
Either Muhyiddin cannot read or he is not so intelligent to understand what the media have been reporting during the last few days. Not only has the principal of the school where the alleged incident was said to have committed come out to refute the lies by the Umno bloggers, but the so-called victim whose photograph was used by the unethical and uncouth Umno people has also issued a strong statement refuting their wicked lies.
What “strong statement” does the deputy prime minister and Umno deputy president expect Guan Eng to out with to counter the evil personal assault against his son? Any simple person with just simple common sense will know that the whole mischievous fiasco was fabricated with the deceitful intent of sabotaging the political achievements of Guan Eng, especially so after the strong denial by the school principal and the firm refutation by the young lady named in the false accusation.
The most crude and crummy statement by the deputy prime minister is surely a very sad reflection of the quality of our federal leaders, whose intelligence is generally found wanting. How can we achieve the status of a developed nation and high-performance citizenry when our deputy prime minister, who is also the education minister, is a person of such irrational and irresponsible character?
Muhyiddin’s performance as education minister has been the subject of contemptuous ridicule and derision among the educated class and intelligentsia of the nation, especially his inconsistent and fickle policy on the use of the English language in the teaching of science and mathematics. His constant changing merry-go-round manaeuvre of the schooling system is confusing not only the students, but the teachers and parents, too.
Read More HERE
Oct 22, 2011
Oct 4, 2011
Save Malaysia - See you in Kuantan on 9th October 2011
A coalition of environmental activists, including electoral reform group Bersih, have banded together to advocate for sustainable development and are organising a rally in Kuantan, set for Saturday.
Perhimpunan Hijau 109 or the Green Assembly, is led by a local activist group protesting against the Lynas rare earth refinery in Gebeng, not far from Kuantan.
The national steering committee of the event, which is made up of 10 NGOs, expects some 10,000 people to turn up, what with the promised attendance of popular Bersih chief Ambiga Sreenevasan (left).
Speaking to reporters in the Parliament lobby today, the committee's representative, Bang Seet Ping, said the event aims to encourage the people to take responsibility for their future.
"I am just an ordinary person. I want to protect my home, my community and my children. There are many others who share my sentiments and aspirations, who want a better future for their children," said Bang, a mother of two.
"Many of our lawmakers are not environmentally literate. I hope they hear us loud and clear. Environmental issues must be a key issue that voters take into consideration in the next general election," Bang said.
The event will kick off with the rising of the sun at Pantai Balok. An endorsement of the Earth Charter - a declaration of fundamental ethical principles for sustainable development - will be made.
The objective of the event, said Bang, is to propel "a change in our way of life, change in how society works, how decisions are made, and how businesses are conducted".
Also lending their support to the Green Assembly, are the residents of Kampung Bukit Koman in Raub, who are fighting to stop a nearby gold mining operation that is said to be linked tocyanide poisoning.
Sep 29, 2011
Sep 28, 2011
STOP LYNAS COALITION
A coalition has been formed following a Strategic Planning Workshop held in Kuantan, Pahang on the 24 September 2011. The coalition comprising various groups of NGOs, NGIs, Political Parties, Malaysia Medical Association, the Pahang Bar Council, Malaysia Civil Liberty Movement and various interest group had resolved to get together forming the "STOP LYNAS COALITION".
The group is determined to stop the operation of the Australian Mining company, Lynas Corporation which is to operate the Lynas Advanced Material Plant (LAMP) a toxic rare earth refinery in the location of Gebeng, Kuantan in the state of Pahang, Malaysia.
The RM700 million Lynas plant is expected to be operational by end of the year will produce 20,000 tons of radioactive waste a year.
The Stop Lynas Coalition fears that this would be a monumental environmental disaster and a toxic health hazard for the local community and the country at large as the waste would pollute the earth and waters in the surrounding location.
The Stop Lynas Coalition comprises of the following groups:
1. Kuantan Concern Citizen (KCC)
2. Badan Bertindak Anti Rare Earth Refinery (BADAR)
3. Save Malaysia Stop Lynas (SMSL)
4. Gelombang Hijau
5. Malaysia Medical Association (MMA)
6. Pahang Bar Council
7. The People's Green Coalition
8. Consumer Association Penang (CAP)
9. Sahabat Alam Malaysia (SAM)
10. Malaysian Civil Liberties Movement (MCLM)
11. Penang Residents' Welfare and Education Association (PRWEA)
12. Kean Tao Baptist Church Kuantan
13. Pastor English Team Kuantan
14. Kuantan Environmental Watch Group
15. Cyber Research Team of Kuantan MP YB Fuziah Salleh
16. PKR Kuantan
17. PKR Indera Mahkota
18. PAS Indera Mahkota
Watch the Video of the Stop Lynas Coalition Press Conference:
Sep 27, 2011
Sep 20, 2011
Sell Down of GLCs in Bursa
There is a Persistent Sell down of Government Link Companies in the local exchange of Bursa.
Foreign funds vote with their shares. Recent corporate governance issues have been very unpalatable. Some even say that certain parties are trying to push through certain deals prior to the elections, at all costs. Besides the Sime Darby-E&O deal, the AirAsia-MAS deal was a sour note ... not many mainstream media or analysts dared to mention that CIMB was advising both parties??!! What kind of crap is that? Its like a court case where the prosecutor and defending lawyer are from the same firm. Please show me ONE other case in global corporate M&A transactions whereby one investment bank advises both sides.
Read More HERE
Sep 19, 2011
Sep 18, 2011
Never Believe a Corrupt Government
There is an old Chinese saying that says that you should never trust a corrupt government, if there is corruption in that nation than it is the failure of the government, a government that allows for corruption is the most heinous of crime in heaven, a crime that is worse than murder.
This corrupt government will go all out to deceive and will be most pretentious with the objective to stay in power, is incapable of serving the people and will inevitably cause great poverty of the mind and deprive the people of economic wealth.
Old Chinese Proverb: " Never Trust a Politician that is all out to stay in Power and if you were to believe the words of such a Politician than you should believe that the Sow (Female Pig) can climb Trees."
Related Story Here
Aug 25, 2011
OPEN GOVERNMENT
When Brazil’s government buys anything from fighter jets to a fancy villa, details are available online within 24 hours. Such disclosures are a powerful way to combat corruption, and are a model for official openness that could inspire other nations.
Brazil’s online portal started in 2004. Among its contents: information about Brazilian outlays in advance of hosting the 2014 World Cup and the 2016 Olympic Games. The site includes an online channel for whistleblower complaints.
Aug 22, 2011
Does UMNO controls the Judiciary?
Extract from Malaysiakini:
Faced with three options as to whether he will testify under oath from the witness stand, giving a statement from the dock as the accused, and keeping quiet, Anwar Ibrahim has chosen the second option.
Faced with three options as to whether he will testify under oath from the witness stand, giving a statement from the dock as the accused, and keeping quiet, Anwar Ibrahim has chosen the second option.
In his testimony to the court, which is carried below in full, the opposition leader explains his decision to speak from the dock, saying he believes the circumstances surrounding the trial obviate any chances being treated fairly if he testified from the witness stand.
"Yang Arif has created a position under which I cannot give evidence under oath.
"I say, with all the force at my command, that I would have been prepared and willing to give evidence under oath but for the handicaps foisted on me, in the manner YA has conducted the trial and in the manner in which the Court of Appeal judgment dated 6th July, 2011 would have come to the notice of YA with regard to what I have stated herein before."
Statement from the dock
My name is Anwar bin Ibrahim. I am the leader of the Opposition in Parliament. In the 1990s, I was the Finance Minister and Deputy Prime Minister until September 1998 when then Prime Minister Datuk Seri Dr Mahathir bin Mohamad sacked me after I had refused to resign. He had told me to resign or face dire consequences including criminal prosecution for alleged sexual and corruption offences. I refused and all hell broke loose.
My unceremonious and grossly unjust dismissal simultaneously orchestrated with a trial by media under Mahathir's complete control triggered mass and widespread demonstrations throughout the country and launched the movement for change and reform known in our history as the Reformasi era.
After a series of show trials during which every rule in the book on evidence and criminal procedure was violated with impunity at the hands of the prosecution and the courts, I was convicted and sentenced to a total of 15 years.
The charge against me
First and foremost, I categorically deny the charge against me. I want to state in no uncertain terms that I have never had any sexual relations with the complainant Mohamed Saiful. His allegation is a blatant and vicious lie and will be proved to be so.
This is a vile and despicable attempt at character assassination. In this regard, let me reiterate that they can do all they want to assassinate my character and sully my reputation and threaten me with another 20 years of imprisonment but mark my words, they won't be able to cow me into submission. On the contrary, it only serves to fortify my conviction that the truth will eventually prevail. Come what come may, I shall never surrender.
With apologies to Jean Racine in Phaedra:
“You know how well your tyranny favours my temperament and strengthens me to guard the honour of my reputation.”
Yes indeed, I will guard it with my life if I have to. And if I may bring the message closer to home, let me quote the words of Nelson Mandela in his speech made from the dock in the famous Rivonia show trial of 1963 under the Apartheid regime:
“I have fought against white domination, and I have fought against black domination. I have cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities. It is an ideal which I hope to live for and to achieve. But if needs be, it is an ideal for which I am prepared to die.”
Back in 1998, blindfolded and handcuffed, I was beaten senseless by the Inspector General of Police and left to die in the lock up at the Federal Police headquarters.
My name is Anwar bin Ibrahim. I am the leader of the Opposition in Parliament. In the 1990s, I was the Finance Minister and Deputy Prime Minister until September 1998 when then Prime Minister Datuk Seri Dr Mahathir bin Mohamad sacked me after I had refused to resign. He had told me to resign or face dire consequences including criminal prosecution for alleged sexual and corruption offences. I refused and all hell broke loose.
My unceremonious and grossly unjust dismissal simultaneously orchestrated with a trial by media under Mahathir's complete control triggered mass and widespread demonstrations throughout the country and launched the movement for change and reform known in our history as the Reformasi era.
After a series of show trials during which every rule in the book on evidence and criminal procedure was violated with impunity at the hands of the prosecution and the courts, I was convicted and sentenced to a total of 15 years.
The charge against me
First and foremost, I categorically deny the charge against me. I want to state in no uncertain terms that I have never had any sexual relations with the complainant Mohamed Saiful. His allegation is a blatant and vicious lie and will be proved to be so.
This is a vile and despicable attempt at character assassination. In this regard, let me reiterate that they can do all they want to assassinate my character and sully my reputation and threaten me with another 20 years of imprisonment but mark my words, they won't be able to cow me into submission. On the contrary, it only serves to fortify my conviction that the truth will eventually prevail. Come what come may, I shall never surrender.
With apologies to Jean Racine in Phaedra:
“You know how well your tyranny favours my temperament and strengthens me to guard the honour of my reputation.”
Yes indeed, I will guard it with my life if I have to. And if I may bring the message closer to home, let me quote the words of Nelson Mandela in his speech made from the dock in the famous Rivonia show trial of 1963 under the Apartheid regime:
“I have fought against white domination, and I have fought against black domination. I have cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities. It is an ideal which I hope to live for and to achieve. But if needs be, it is an ideal for which I am prepared to die.”
Back in 1998, blindfolded and handcuffed, I was beaten senseless by the Inspector General of Police and left to die in the lock up at the Federal Police headquarters.
However, it was by the grace of God that a few of the rank and file of the police took pity on me and nursed me to recover from the near lethal blows. There was then a cover up by Gani Patail (now the Attorney-General) and Musa Hassan (the IGP at the time that I was charged in this new episode) with the full knowledge and connivance of Dato' Yusuf, the current chief prosecutor in this trial.
All these personalities were linked in one way or the other with the 1998 show trial and more insidiously with the suppression of evidence in respect of the black eye scandal and attempts to pervert the course of justice.
All these personalities were linked in one way or the other with the 1998 show trial and more insidiously with the suppression of evidence in respect of the black eye scandal and attempts to pervert the course of justice.
These are the same personalities who are now actively involved in the current prosecution against me. Res ipsa loquitur, as they say, but in this regard I'm not talking about negligence but rather proof of criminality in this heinous plot betraying indeed “the deep damnation” of the conspiracy.
Aug 11, 2011
Quantitative Easing - Masturbating the Economy
Some of the guys down at the bar ask me what does QE2 means, well i told them that QE2 is not Queen Elizabeth the 2nd but means "Quantitative Easing" and the 2 means "again" the second time. And this friend of mine who is an Engineer added "wtf is that" and the economy?
You see most people have heard this term from the financial papers or over the news especially with the recent Market Crash or more appropriately, It's a damn shit Meltdown! That means more of it to come on a much more prolonged period. A crash could be just a temporary reaction to an event but a Meltdown is a over a much more longer period due to some protracted long overdue inherent critical problem in the economy that remains unresolved.
My answer in short to them down at the Bar was it means you are Screwed! The economy is F@#$! Quantitative Easing is Masturbating the Economy! Your goods are not selling enough and your workers are under worked and overpaid. QE is never the solution but a lazy temporary patch up job and you know what after a while you find that it is a lousy patch up job and its leaking again and you call in the same old repairman again and he comes in to do another patch up job and so there comes your QE2 and the next day it leaks again and you call in the same old guy which gives you another lousy patch up job and so now we have QE3!
This finance guy from the Insurance company added that the US Federal Reserve (US Central bank) has just announced that they will keep the interest rate low for the next two years and that should help the economy in terms of lower cost of funds. Well we could easily translate what the Fed is actually saying is that they are expecting the economy to be real bad for the next two years and if the value of your money as measured by the interest rate is at 0%? And at this rate of 0% interest you probably need to pay the bank for keeping your money. What does it tell you when the value of your money goes to zero percent interest?
This finance guy from the Insurance company added that the US Federal Reserve (US Central bank) has just announced that they will keep the interest rate low for the next two years and that should help the economy in terms of lower cost of funds. Well we could easily translate what the Fed is actually saying is that they are expecting the economy to be real bad for the next two years and if the value of your money as measured by the interest rate is at 0%? And at this rate of 0% interest you probably need to pay the bank for keeping your money. What does it tell you when the value of your money goes to zero percent interest?
Anyway maybe a more profound explanation about QE could be found in this video from CNBC.
Quantitative Easing
Aug 5, 2011
Global Financial Market Meltdown
The Financial Market Plunges to new lows for the year today with the US market losing more than 10% from the high in April this year. this is the worst performance since the 2008 global financial crisis.
Everything except for the US dollar is falling off the cliff, this is a Crash of the global financial markets. The US markets plunge more than 512.76 points or down 4.31%, Oil is down 6%, Gold fell by about 1%, Silver plunge by over 7%. The european markets all closed with heavy sell off by more than 3.00%.
Expect greater Turmoil when the Asian Markets open later.
Will this trigger a Global Financial Meltdown?
Aug 3, 2011
USA - Unable to Spend Anymore..
It is certainly good news that Congress and the White House seem to have an agreement that'll allow the US to pay its bills beyond today. USA shouldn't stand for Unable to Spend Anymore.
I'm assuming, of course, that the budget deal struck over the weekend that is short on cutbacks and long on "we'll take care of it laters" will pass the Senate today.
But lost in all the chatter about how much federal spending needs to be reduced is the fact that the US economy is getting weaker by the month.
I've often mentioned that economic growth would look like it was weakening in the summer because the spring's statistics were overly optimistic. Now that's happening.
The economy isn't going to hell, as we like to say. Not yet. But it certainly is somewhere in the vicinity of purgatory.
Yesterday we learned that manufacturers in this country weren't doing nearly as well as the experts thought -- and the experts weren't very optimistic to begin with.
Read more: http://www.nypost.com/p/news/business/forget_the_ceiling_the_gdp_is_underground_Gcn3R7W14Oxoqa1on2fHHM#ixzz1TtRy0ILY
I'm assuming, of course, that the budget deal struck over the weekend that is short on cutbacks and long on "we'll take care of it laters" will pass the Senate today.
But lost in all the chatter about how much federal spending needs to be reduced is the fact that the US economy is getting weaker by the month.
I've often mentioned that economic growth would look like it was weakening in the summer because the spring's statistics were overly optimistic. Now that's happening.
The economy isn't going to hell, as we like to say. Not yet. But it certainly is somewhere in the vicinity of purgatory.
Yesterday we learned that manufacturers in this country weren't doing nearly as well as the experts thought -- and the experts weren't very optimistic to begin with.
Read more: http://www.nypost.com/p/news/business/forget_the_ceiling_the_gdp_is_underground_Gcn3R7W14Oxoqa1on2fHHM#ixzz1TtRy0ILY
Jul 27, 2011
Bye Bye..
We first heard of a Muhyiddin - Hishamuddin pact some time late last year, there was apparently a secret meeting towards this understanding of the terms of the pact where they will take over the leadership of the country in the in-eventual departure of the husband and wife team or should it be wife and husband team.
And later sometime in March this year there were some buzz in within the inner circle of a 3M Team of which were made clear today with the recent article in the Malaysian Chronicle HERE and in Malaysia Today HERE.
But this insight provided by the Finance Twitter website clarify and sum up all the information we heard from the grapevine, truly an illuminating article as follows:
Resign or Snap Election for Najib, Here're the Reasons
By Finance Twitter
As much as I would like to stop writing about PM Najib administration, the plot just got interesting and I think he may just hit the bull’s eye as far as my prediction that his downfall may be faster than his predecessor, Abdullah Badawi, is concerned. Compared with Najib, Badawi now seems like a cute adorable little kitten, who merely likes to sleep (on the job). Malaysians tend to be more forgiving on lazy prime minister but not a prime minister wholies, cheats, brutal, dirty (allegation on Mongolian Altantuya’s murder),hypocrite but above all stupid yet arrogant.
One cannot help but fell off the chair laughing after read that Najib said he cancels a family vacation because he wants to spend more time with Malaysians. This was perhaps the best joke ever by premier Najib since he took over from Abdullah Badawi. This joke actually worth a thousand “Like” on his facebook page. Forget about Bersih 2.0 because this guy may quit under pressure – not from opposition parties or Bersih 2.0 but from his internal UMNO party. Boy, if it was true that the US$24 million controversial diamond ring indeed belongs to his wife Rosmah Mansor, that ring is cursed.
Anyone notice the deadly silence from Mahathir after the Bersih 2.0 rally that instantly flush Najib’s popularity into the toilet bowl? I’ve wrote earlier that Najib administration’s extreme stupidity in tackling the simple issue of Bersih 2.0 made the whole episode smells rat. Najib can’t be that foolish (or was he?) and even if he was indeed stupid, his wife would have save the day, unless of course the plan to unseat him has been brought forward by his own circles.Mahathir doesn’t like Najib for two main reasons - his wife and his close connection with Singapore Government.
It seems Najib may have to quit soon, probably before his term expires in 2013. And if Najib plans to stay until next year to enjoy more free overseas holidays using taxpayers money under his capacity as the prime minister, his dream is now short-lived based on his emergency return to take control of Putrajaya. How on earth could everything turns upside-down before his “shopping” trip to United Kingdom and Italy ends? It appears he has no other option but to call an early election, possibly before 11-11-2011 in order to neutralize his enemy from within UMNO, if he’s able to do that.
Read the Full Article HERE
Jul 20, 2011
Kleptocracy
I like this article which was published in Malaysia Today.
The Role and Function of a Police Force in a Kleptocracy
By Tuan Abu Bakar bin Tuan Abu Khalid
Kleptocracy is a government of thieves, by thieves and for thieves. The ruling elite in a kleptocracy governs only to extend its personal wealth and political power by stealing from the state’s coffer.
The major characteristics of a kleptocracy are rampant corruption, rent-seeking activities, money-laundering and abuses of human rights.
Since a kleptocracy benefits only a small section of the population at the expense of the wider population, the modus operandi of the kleptocracy to stay in power is to divide the population along tribal, racial or religious lines.
Contemporary kleptocracies often maintain a facade of democracy to camouflage their kleptocratic tendencies. A kleptocracy may have a state constitution, though it is regularly abused to suit the whims and fancies of the ruling elite. Regular elections are also held to enforce the notion of a democratic state. The elections are rigged and manipulated to provide legitimacy to the kleptocracy.
Government agencies such as the judicial system, the civil service, the legislative body, the security forces and even the church act as apparatchik of the kleptocracy. The officials holding key positions are rewarded by having a share of the loot.
Read the Rest of the Article HERE
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