Business

HELLO, DUMBO! – BANK NEGARA WAS ACTUALLY VERY SAVVY TO RAISE OPR JUST A DAY (TIME DIFFERENCE) BEFORE THE U.S. FED HIKED ITS RATE – THAT BNM DID SO SHOWS THEY HAD CONFIDENCE THE LOCAL ECONOMY AKA THE MALAYSIAN PEOPLE CAN SHOULDER THE 25BP INCREASE – PRICES HAVE STOPPED SKY-ROCKETING HERE & THE RINGGIT IS NOW STABLE UNLIKE DURING MUHYIDDIN-ISMAIL SABRI REGIMES, WHERE THE EXPECTATION WAS FOR RINGGIT WEAKEN TO RM5 TO US$1- KEEPING THE OPR ARTIFICIALLY LOW VERSUS A RESERVE CURRENCY LIKE THE U.S. DOLLAR IS ASKING FOR EVEN GREATER INFLATION AHEAD – RECKLESS LOOSE MONETARY POLICY IS WHAT LANDED U.S., THE WORLD LARGEST DEBTOR NATION, IN ITS CURRENT DOWNSPIRAL – POPULIST POLICIES & INDISCIPLINE WILL MAKE THE RINGGIT TOILET PAPER – WHICH IS ACTUALLY WHAT THE U.S. DOLLAR ALSO IS, EXCEPT THAT IT IS PROTECTED BY ITS ‘OTHER NATIONS HAVE NO CHOICE BUT TO USE IT’ STATUS – DUE TO WASHINGTON’S HEGEMONIC POLICIES & ACTIONS – THIS IS WHY NATIONS AROUND THE WORLD INCLUDING MALAYSIA WANT TO DUMP THE DOLLAR & JUMP ONTO DE-DOLLARISATION – BUT UNTIL THAT IS SUFFICIENTLY EFFECTED, MALAYSIANS LIKE OTHER GLOBAL CONSUMERS MUST SUFFER FOR THE SELFISHNESS OF AN UNDISCIPLINED U.S. GOVT – SILLY OR NOT, PKR’S ‘AXE OF HIS OWN TO GRIND’ HASSAN KARIM DEMANDS EXPLANATION FROM ANWAR & RAFIZI – BUT UNTIL HE UNDERSTANDS MORE ABOUT HOW COMPLEX IT ACTUALLY IS TO TWEAK AN ECONOMY WITH BOTH MACRO & MICRO-ECONOMIC POLICIES, HE SHOULD STOP TRYING TO BE ‘POPULIST’ & INSIST ON FEEDING THE PEOPLE WHAT COULD BE A POISON PILL DUE TO HIS OWN CARELESSNESS – BTW, HASSAN! HOW MANY B40 PEOPLE DO YOU KNOW ARE RICH ENOUGH TO AFFORD CAR & HOUSING LOANS FROM THE LIKES OF MBB, CIMB ETC – B40 USUALLY NEED GOVT AID, RIGHT? – HIGHER INTEREST RATES CAN REIN IN COST OF LIVING PRICES AS A STABLE RINGGIT ALSO MEANS LOWER MATERIAL COSTS, IMPORTS, ETC – STABLE CURRENCY ALSO GIVES GOVT MORE SPACE TO MICRO-MANAGE THE NEEDS OF THE HARDCORE POOR WITH TARGETED SUBSIDIES, ETC

May 6, 2023 4:20 pm // 0 Comments

Explain OPR increase, PKR MP tells Anwar and Rafizi Prime Minister Anwar Ibrahim and Economy Minister Rafizi Ramli must explain to the rakyat the recent increase in Bank Negara’s overnight ...
1 2 3 4 5 70