Deputy minister’s idea to print and distribute money ‘naive’, economist says

PETALING JAYA: An economist has dismissed a deputy minister’s suggestion for Bank Negara Malaysia to print and distribute money to those who are in the B40 category to increase their ability to spend, describing it as “naive”.

In an interview with BFM 89.9, Deputy Youth and Sports Minister Wan Ahmad Fayshal had said this is among the measures which could be coupled with his call for a targeted debt jubilee.

Wan Fayshal has since said many have misunderstood his comments, adding that they relate to the modern monetary theory (MMT) which has been advocated by academics.

But Center for Market Education CEO Carmelo Ferlito said MMT and the idea of printing money was flawed and that if printing and distributing money to stimulate consumption worked, then poverty would never be an issue.

Carmelo Ferlito.

“Obviously, in reality, things do not work like that,” he told FMT.

The value of money, he said, is inversely related to the quantity of goods available.

“So if we put more money into the system, the value of money will decrease and at best, people will only be richer in nominal terms.

“In reality, you will see an increase in prices of goods to offset the higher availability of money.”

Ferlito said this is what has happened in Venezuela where banknotes are just discarded on the street because they have lost their value.

Other countries which had implemented such a policy, he said, ended up abandoning it after it resulted in rampant inflation and weaker currencies.

“The best way to help people now is not to give them the false impression of being richer in monetary terms but implementing a strategy to ensure economic growth.

“Economic growth will create job opportunities which the market needs. Ultimately, this is what will see people earning and earning more,” he said.

A deputy unity minister who sows disunity


Ti, the minorities are talking about fairness, racial justice and equality; not racism…’

DAP back at it again, stirring up Chinese emotions

OrangeHawk3664: MCA has been trying to show they are the better Chinese party after losing the trust and support of the community.

So far, all we hear is about the allocation for Tunku Abdul Rahman University College (TAR UC), nothing else.

Ti Lian Ker is the deputy national unity minister and yet is slamming former finance minister Lim Guan Eng for projecting himself as Malay-friendly when in power, how ironic.

What unity can we expect from this racist minister when he himself doesn’t believe in it?

Hagar: Ti, what are you doing about the proposed Budget 2021 where non-bumiputera allocations have been cut drastically in all aspects?

If the PN government is ‘fair’, then I think you should resign as deputy minister and from MCA which claims to represent the Chinese community.

Please do what is fair for the whole country and not just jabbing DAP for the sake of doing so.

Constitutional Supremacy: Ti, what racial card? The Budget treated non-Malays very poorly.

Compared to Malays, the allocation for Chinese and Indians combined is less than 3 percent of that for bumiputera.

How can raising the clear disparity of allocation be considered as stirring racial sentiments?

So you want DAP to be like MCA – for the last 60 years, it has been receiving crumbs. So, you want DAP to emulate and keep quiet?

If DAP is to remain silent, then how is the matter to be addressed? You have to speak up and demand better treatment.

Vision2020: Ti, if you are a Malay, and there is no allocation for Universiti Teknology Mara (UiTM), do you think the Malay community will keep silent?

If you are an Indian, and there is no allocation to support the Indian community, do you think our Indian brothers and sisters will remain quiet?

Ti, the minorities are talking about fairness, racial justice, and equality; not racism.

Kamakasi: Ti can be assured that MCA will be kicked out in the next election. You are stirring Chinese sentiments to insult the Chinese and DAP.

Why didn’t you highlight other Harapan contributions for the Chinese and Indian temples, churches, etc, the huge Orang Asli allocations, private independent schools, and vernacular schools?

All these are not the priority of the present PN illegitimate government which you are a part of.

Anonymous4189: I read this article by Ti. It contains factual arguments. I wish more readers will respond in a fair manner.

DAP, when it was at its most powerful, failed to deliver. Whatever MCA cannot do, DAP could have done. This is because DAP has the numbers. But DAP followed then prime minister Dr Mahathir Mohamad like a dog.

There is no point in blaming MCA now. They did better with seven representatives than DAP’s 42 MPs.

MoreThan3RmToOneSGD: @Anonymous4189, DAP was in government for less than two years. MCA was in government for 63 years.

You expected DAP to correct everything during their short time in power?

Care For Malaysia: Indeed, with only about 22 months in power, what else can Harapan do?

Lim’s first priority was to put the poor first. And the poorest are Malays. If Lim put the priority on the Chinese first, then what do you think will happen next since Lim himself also Chinese?

Therefore, I always support Lim. I know you will be the best finance minister ever. Hopefully, you will be back to power again.

Milshah: I have warned that no matter how bad Harapan was as a government, it was the better choice in a multiracial environment. True, the Chinese don’t get everything they wanted in Harapan, but it was better.

But many wanted to teach Harapan a lesson and this was translated in the Tanjung Piai by-election where MCA won by a landslide.

When I told non-Malays, no matter how bad Harapan was, BN was far worse. But no, some of the non-Malay commenters said even if BN wins, then so be it.

I told them they would not be able to stomach a return of BN. Now what I said has come true. There is no need to feel regret.

BN is coming back, and there is nothing you can do about it. Harapan was the better choice for you, but you were too arrogant and ungrateful to see it.

Sentinel: Ti, you excoriate DAP for stirring up Chinese sentiments but in the last paragraph, you pointed out their so-called failures, which can also mean that they were willing to compromise, which is totally opposite to what Umno had said.

So, which is which – is the Umno depiction of DAP as the all-powerful partner in Pakatan Harapan correct, or is MCA’s portrayal of a party that didn’t deliver in Harapan for the Chinese community the truth?

Anonymous 79: It looks like Ti and MCA are panicking because they find themselves in trouble.

It’s the same with Bossku (former prime minister Najib Abdul Razak) and outgoing US president Donald Trump.

All these people are using the same tactics and espousing the same language. Rather than uniting the people, they choose to divide us. It’s only with this way that they can continue in power.

Wristbands will just further stigmatise migrant workers, say activists

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Photographs of construction workers wearing pink wristbands to indicate they are involved in community screenings went viral on social media on Tuesday.

PETALING JAYA: The idea that migrant workers should have to wear wristbands to identify them due to rising Covid-19 cases within their communities is only going to cause further stigmatisation, say several stakeholders.

Calling on the government not to “overreact” or create “xenophobic situations”, Migrant Care Malaysia coordinator Alex Ong said Covid-19 does not differentiate migrants from Malaysians.

“It’s not good to stigmatise migrant workers with all these double standards,” the migrant rights activist told FMT.

“Look at the shortage of workers in the construction, manufacturing, plantations and agriculture sectors. We can see Malaysia needs them (migrant workers).

“If you want to stigmatise them as potential carriers, it must be across the board and you must include Malaysian workers as well,” he said.

Senior Minister for Security Ismail Sabri Yaakob said yesterday Putrajaya is considering whether migrant workers should be made to wear wristbands to identify them in public in light of the increase in Covid-19 cases linked to them.

North-South Initiative director Adrian Pereira said migrant workers already face “all kinds of stigma”, and making them wear wristbands will “further push them into the shadows”.

“This is bound to backfire on us,” warned the activist. “Let’s keep one protocol for all.”

Health systems and policies specialist Dr Khor Swee Kheng said any decision to issue wristbands to migrant workers must be carefully explained by the government.

He said the onus is on Ismail to explain the specific ways this can improve public health rather than “merely asserting” it will indeed improve public health.

“It is more likely that wristbands for migrant workers are stigmatising and ineffective, and will provide a false sense of security,” Khor said.

“It can also draw public attention away from necessary improvements to public health, for example housing, testing and healthcare insurance for migrant workers.”

The Malaysian Trades Union Congress (MTUC) also weighed in on the issue, with its deputy president, Mohd Effendy Abdul Ghani, noting that forcing migrant workers to wear wristbands “is not the solution”.

“It seems discriminatory and a violation of human rights,” he said.

“The government should instead enforce all employers to test their migrant workers, especially in red zones, as it will prevent the spread of Covid-19.”

The Damanlela construction site cluster in Kuala Lumpur and Selangor is currently the second largest active cluster with 1,346 cases, with only the Tembok prison cluster in Kedah and Perak having more cases (1,972).

Meanwhile, the Teratai cluster in Selangor and Kuala Lumpur, which is linked to the positive cases among Top Glove’s factory workers, recorded 18 new cases yesterday, the second highest spike among active clusters. The Teratai cluster currently has 388 cases.  FREE MALAYSIA TODAY